Document:

EXHIBIT 10.1

 

______________, 2012

 

Hyde Park Acquisition Corp.
II

500 Fifth Avenue, 50th Floor

New York, NY 10110

 

Deutsche Bank Securities Inc.

60 Wall Street, 4th
Floor

New York, New York 1000

(as representative of the underwriters)

Attn: General Counsel

 

           Re:                      Initial
Public Offering

 

Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Hyde Park Acquisition Corp. II, a blank check company formed under the laws of the State of Delaware
(the “Company”), and Deutsche Bank Securities Inc., as representative of the underwriters (the “Underwriters”),
relating to an underwritten initial public offering (the “Offering”) of 7,500,000 of the Company’s shares (the
“Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Shares
will be sold in the Offering pursuant to a registration statement on Form S-1 and related prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and shall be quoted and traded
on the OTC Bulletin Board. Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Offering 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.           The
undersigned agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such
proposed Business Combination, the undersigned shall vote all shares of Common Stock held by the undersigned in favor of such proposed
Business Combination.

    	1

    	 

    

 

2.           The
undersigned hereby agrees that in the event that the Company fails to consummate a Business Combination within 21 months from the
date of the Prospectus, the undersigned shall take all reasonable steps to cause the Company as promptly as possible but no more
than 10 business days after the expiration of such 21-month period to redeem 100% of the Company’s outstanding public shares
of Common Stock for a pro rata portion of the funds held in the Trust Account (including any accrued interest, but subject to any
provision for creditors required by applicable law) and then seek to dissolve and liquidate.  The undersigned hereby
agrees not to take any action to cause or permit the Company to extend such 21-month period.

 

3.           (a)           The
undersigned acknowledges that the undersigned has no right, title, interest or claim of any kind in or to any monies held in
the Trust Account or any other asset of the Company as a result of any liquidation of the Trust Account with respect to any
Founders’ Shares or Sponsors’ Shares held by the undersigned. The undersigned hereby further waives, with respect
to any Common Stock held by the undersigned, any conversion rights the undersigned may have in connection with the
consummation of a Business Combination, including, without limitation, any such rights available in the context of a
stockholder vote to approve such Business Combination, in the context of any stockholder vote to amend the Company’s
amended and restated certificate of incorporation or in the context of a tender offer made by the Company to purchase Common
Stock (although the undersigned shall be entitled to liquidation rights with respect to any shares of Common Stock (other
than Founders’ Shares and Sponsors’ Shares) the undersigned holds if the Company fails to consummate a
Business Combination within 21 months from the date of the Prospectus).

 

(b)         To
the extent that the Underwriters do not exercise their over-allotment option to purchase an additional 1,125,000 shares of Common
Stock (as described in the Prospectus), the undersigned agrees to return to the Company for cancellation, at no cost, a number
of Founders’ Shares held by the undersigned as determined in accordance with the Escrow Agreement.

 

(c)         The
undersigned acknowledges and agrees that until the earlier of: (i) one year after the completion of the Company’s initial
Business Combination and (ii) the Company’s consummation of a liquidation, merger, share exchange or other similar transaction
that results in all of the Company’s stockholders having the right to exchange the shares of Common Stock held by the undersigned
for cash, securities or other property following the Company’s completion of its initial Business Combination (the “Lock-Up
Period”), the undersigned shall not (A) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option
to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, 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 Commission promulgated thereunder, with respect to the Founders’ Shares, (B)
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any of the Founders’ Shares, whether any such transaction is to be settled by delivery of the Ordinary Shares or such
other securities, in cash or otherwise, or (C) publicly announce any intention to effect any transaction specified in clause (A)
or (B); provided, however, if the Company’s share price reaches or exceeds $12.50 per share for any 20 trading days within
any 30-trading day period during the Lock-Up Period, 50% of the Founders’ Shares will be released from the lock-up and, if
the Company’s share price reaches or exceeds $15.00 per share for any 20 trading days within any 30-trading day period during
the Lock-Up Period, the remaining 50% of the Founders’ Shares shall be released from the lock-up (as such price of $12.50 and $15.00
may be adjusted for share splits, share dividends, reorganizations, recapitalizations and the like).

    	2

    	 

    

 

[Paragraph 3(d) only applicable
to persons acquiring Sponsors’ Shares]

 

(d)         Until
30 days after the completion of the Company’s initial Business Combination (the “Sponsors’
Shares Lock-Up Period”), each of the undersigned shall not (i) sell, offer to sell, contract or agree to
sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or
indirectly, 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
Commission promulgated thereunder, with respect to the Sponsors’ Shares, (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the
Sponsors’, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii).

 

(e)         Notwithstanding
the provisions contained in paragraph 3(c) [or 3(d)], the undersigned may transfer any Founders’ Shares [or Sponsors’
Shares] owned by the undersigned (i) to officers, directors and employees of the Company and, if the undersigned is an entity,
as a distribution to partners, members or stockholders of the undersigned upon the liquidation and dissolution of the undersigned,
(ii) by bona fide gift to a member of the undersigned’s immediate family or to a trust, the beneficiary of which is the undersigned
or a member of the undersigned’s immediate family for estate planning purposes, (iii) by virtue of the laws of descent and
distribution upon death of the undersigned, (iv) pursuant to a qualified domestic relations order, or (v) by private sales made
at or prior to the consummation of a Business Combination at prices no greater than the price at which the Founders’ Shares
[or Sponsors’ Shares, as applicable,] were originally purchased; provided, however, that in each case, these permitted
transferees enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in paragraph 3(c)
[or 3(d)] herein[, as applicable,] and the terms of the Escrow Agreement.

 

4.           (a)           During
the period commencing on the date of the preliminary prospectus relating to the Offering and ending 180 days after such date, the
undersigned shall not (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or
otherwise dispose of or agree to dispose of, directly or indirectly, 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 Commission promulgated thereunder, with respect to any Common Stock or any securities
convertible into, or exercisable, or exchangeable for, Common Stock owned by the undersigned, (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common
Stock or any securities convertible into, or exercisable, or exchangeable for, Common Stock owned by the undersigned,
whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce
any intention to effect any transaction specified in clause (i) or (ii).  Notwithstanding foregoing, the undersigned
may transfer the Common Stock or any securities convertible into, or exercisable, or exchangeable for, Common
Stock owned by the undersigned (i) if the undersigned is an entity, as a distribution to partners, members or stockholders of the
undersigned upon the liquidation and dissolution of the undersigned, (ii) by bona fide gift to a member of the undersigned’s
immediate family or to a trust, the beneficiary of which is the undersigned or a member of the undersigned’s immediate family
for estate planning purposes, (iii) by virtue of the laws of descent and distribution upon death of the undersigned, or (iv) pursuant
to a qualified domestic relations order; provided, however, that, in each case, these permitted transferees enter into a written
agreement with the Company agreeing to be bound by the transfer restrictions in this paragraph 4.

    	3

    	 

    

 

(b)         The
undersigned acknowledges and agrees that, prior to the effective date of any release or waiver by Deutsche Bank Securities Inc.,
as representative of the Underwriters, of the restrictions set forth in paragraph 3 or this paragraph 4 in connection with a transfer
of any Common Stock the Company shall announce the impending release or waiver by press release through a major
news service at least two business days before the effective date of the release or waiver.  Any release or waiver granted
by Deutsche Bank Securities Inc. to the undersigned shall only be effective two business days after the publication date of such
press release.  The provisions of this paragraph will not apply if (i) the release or waiver is effected solely to permit
a transfer not for consideration and (ii) the transferee has agreed in writing to be bound by the same terms described in this
letter to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

[Paragraph 5 to be included
in officers’ letters only]

 

5. (a)     In
the event of the distribution of the Trust Account upon the Company’s failure to complete a Business Combination within 21
months from the date of the Prospectus, each of the officers of the Company jointly and severally agree (for purposes of this paragraph
5, the officers and directors of the Company shall be referred to as the “Indemnitors”) to indemnify and hold harmless
the Company against any and all loss, liability, claim, 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) to which the Company may become subject as a result of any claim by (i) any third party for
services rendered or products sold to the Company or (ii) a prospective target business with which the Company has entered into
an acquisition agreement (a “Target”); provided, however, that such indemnification of the Company by the Indemnitors
shall apply only to the extent necessary to ensure that such claims by a Target or by a third party for services rendered or products
sold to the Company do not reduce the amount of funds in the Trust Account to below $10.50 per Share of Common Stock sold in the
Offering (the “Offering Shares”) (or approximately $10.41 per Offering Share if the underwriters’ over-allotment
option, as described in the Prospectus, is exercised in full, or such pro rata amount in between $10.41 and $10.50 per Offering Share
that corresponds to the portion of the over-allotment option that is exercised); and provided, further, that only if such third
party or Target has not executed an agreement waiving claims against and all rights to seek access to the Trust Account whether
or not such agreement is enforceable. In the event that any such executed waiver is deemed to be unenforceable against such third
party, the Indemnitors shall not be responsible for any liability as a result of any such third party claims. Notwithstanding any
of the foregoing, such indemnification of the Company by the Indemnitors shall not apply as to any claims against the Company by
the Underwriters. The Indemnitors shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory
to the Company if, within 15 days following written receipt of notice of the claim to the Indemnitors, the Indemnitors notifies
the Company in writing that the Indemnitors shall undertake such defense.

    	4

    	 

    

 

(b)         In
the event of the liquidation of the Company, the Indemnitors further agree to advance the Company the funds necessary to complete
the Company’s liquidation to the extent that the Company does not have sufficient funds to complete such liquidation outside
of the Trust Account. The Indemnitors agrees not to seek repayment of such expenses from the Company or its Public Stockholders.

 

[Paragraph 6 to be included
in officers’ and directors’ letters only]

 

6.           (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, he or she shall present to the Company for its consideration, prior to
presentation to any other entity, any suitable business opportunity, subject to any pre-existing fiduciary or contractual
obligations he or she might have.

 

(b)         The
undersigned agrees that he or she will not participate in the formation of, or become an officer or director of, any other 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 date of the Prospectus.

 

(c)         The
undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in the
event of a breach by the undersigned of his or her obligations under paragraphs 6(a) and/or 6(b) hereof, (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, subject to determination by a court
in a final judgment.

 

7.           The
undersigned’s biographical information previously furnished to the Company is true and accurate in all material
respects and does not omit any material information with respect to the undersigned’s biography. The
undersigned’s questionnaires previously furnished to the Company are true
and accurate in all material respects. The undersigned represents and warrants that:

 

(a)         the
undersigned 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)         the
undersigned has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction
or handling of funds of another person, or (iii) pertaining to any dealings in any securities and the undersigned is not currently
a defendant in any such criminal proceeding; and

    	5

    	 

    

 

(c)         the
undersigned 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.

 

8.           Except
as disclosed in the Prospectus, neither the undersigned nor any affiliate of the undersigned, shall receive any finder’s
fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or in connection
with any services rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless
of the type of transaction that it is), other than the following:

 

(a)         repayment
at the closing of this Offering of an aggregate $100,000 non-interest bearing loan made to the Company by Laurence S. Levy and
Edward Levy;

 

(b)         payment
of $10,000 per month to ProChannel Management LLC, an affiliate of Laurence S. Levy, for office space and secretarial and administrative
services;

 

(e)         reimbursement
of out-of-pocket expenses incurred by the undersigned in connection with certain activities on the Company’s behalf, such
as identifying and investigating possible business targets and business combinations.

 

9.           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 Offering.

 

10.         The
undersigned authorizes any employer, financial institution, or consumer credit reporting agency to release to the Underwriters
and their legal representatives or agents (including any investigative search firm retained by the Underwriters) any information
they may have about the undersigned’s background and finances (“Information”), purely for the purposes of the
Offering (and shall thereafter hold such information confidential).  Neither the Underwriters nor their 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.         The
undersigned acknowledges and agrees that the Company will not consummate any Business Combination with any company with which the
undersigned or any of the undersigned’s affiliates has had any discussions, formal or otherwise, prior to the consummation
of the Offering, with respect to a Business Combination with the Company.

    	6

    	 

    

 

12.         The
undersigned acknowledges and agrees that the Company will not consummate any Business Combination with an entity that is affiliated
with any of the Company’s officers, directors or Sponsors, including (1) an entity that is either a portfolio company of,
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, (2) an entity in which any of the foregoing or their affiliates are currently
passive investors, (3) an entity in which any of the foregoing or their affiliates are currently officers or directors, or (4)
an entity in which any of the foregoing or their affiliates are currently invested through an investment vehicle controlled by
them, unless the Company obtains (i) an opinion from an independent investment banking firm which is a member of the Financial
Industry Regulatory Authority, Inc. that the business combination is fair to the Company public stockholders from a financial point
of view and (ii) the approval of a majority of the disinterested independent directors of the Company.

 

13.         The
undersigned has full right and power, without violating any agreement to which the undersigned is bound (including, without limitation,
any non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement [and
to serve as an officer of the Company or as a director on the board of directors of the Company, as applicable, and hereby consents
to being named in the Prospectus as an officer and/or as a director of the Company, as applicable] [Bracketed language applicable
to all officers and directors].

 

14.         As
used in this Letter Agreement, (i) “Business Combination” shall mean a merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or similar business combination, involving the Company and one or more
businesses or entities; (ii) “Sponsors” shall mean Laurence S. Levy, Edward Levy, Knott Partners, LP, Knott
Partners Offshore Master Fund, L.P., Shoshone Partners, L.P., Mulsanne Partners, L.P., NMJ Trust II, David M. Knott, Matthew
Campbell, Walter McLallen and Greg Rice; (iii) “Founders’ Shares” shall mean the 2,156,250 shares of Common
Stock of the Company acquired by the Sponsors for an aggregate purchase price of $25,000, or approximately $0.01 per share of
Common Stock, prior to the consummation of the Offering; (iv) “Public Stockholders” shall mean the holders of
Common Stock issued in the Offering; (v) “Sponsors’ Shares” shall mean the 693,750 shares of Common Stock that are acquired by the Sponsors at a price per
Share of $10.00 in a private placement that shall close simultaneously with the consummation of the Offering;
(vi) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Offering will
be deposited; and (vii) “Escrow Agreement” shall mean the stock escrow agreement to be entered into among
the Company, the Sponsors and the escrow agent named therein, as described in the Prospectus.

 

15.         This
Letter Agreement, and the exhibits thereto, constitute the entire agreement and understanding of the parties hereto in respect
of the subject matter hereof and supersede 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 the parties hereto.

 

16.         Neither
party may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not
operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the undersigned
and each of the undersigned’s heirs, personal representatives, successors and assigns.

    	7

    	 

    

 

17.         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 parities hereto (i) agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter
Agreement shall be brought and enforced in the courts of New York, in the State of New York, and irrevocably submits to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and venue
or that such courts represent an inconvenient forum.

 

18.         Any
notice, consent or request to be given in connection with any of the terms or provisions of this Letter 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 facsimile transmission.

 

19.         This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Period, or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Offering is not consummated by ______,
2012.

 

[Signature page follows]

    	8

    	 

    

 

	Sincerely,
	 	 
	By:	 
	 	Name:

 

Acknowledged and Agreed:

 

HYDE PARK ACQUISITION CORP.
II

 

	By:	 
	 	Laurence S. Levy
	 	Chief Executive OfficerEXHIBIT 10.2

 

INVESTMENT MANAGEMENT TRUST
AGREEMENT

 

This
Agreement is made as of ___________, 2012 by and between Hyde Park Acquisition Corp. II (the “Company”) and Continental
Stock Transfer & Trust Company (“Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, No. 333-174030 (“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,
Deutsche Bank Securities Inc. (“Deutsche Bank”) is acting as the representative of the underwriters in the IPO; and

 

WHEREAS,
simultaneously with the IPO, the Company’s initial stockholders will be purchasing an aggregate of 693,750 shares
(“Sponsors’ Shares”) from the Company for an aggregate purchase price of $6,937,500; and

 

WHEREAS,
as described in the Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of
Incorporation, $78,750,000 of the gross proceeds of the IPO and sale of the Sponsors’ Shares ($89,746,875 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
(“Common Stock”), issued in the IPO as hereinafter provided and in the event the Shares of Common Stock
are registered in Colorado, pursuant to Section 11-51-302(6) of the Colorado Revised Statutes. A copy of the Colorado Statute
is attached hereto and made a part hereof (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,
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;

 

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 ____________________ and at a brokerage institution selected by the Trustee that
is satisfactory to the Company;

 

    	1

    	 

    

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

 

(c)           In
a timely manner, upon the instruction of the Company, invest and reinvest the Property (i) in United States government treasury
bills having a maturity of 180 days or less  and/or (ii) in money market funds meeting certain conditions under
Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined
by the Company;

 

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

 

(e)           Notify
the Company of all communications received by it 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

 

(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, signed on behalf of the Company by its Chief Executive Officer or Chairman of the Board 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 Effective Date
(“Last 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 as of 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 Trust Account requested
by the Company to cover any income or other tax obligation owed by the Company.

 

    	2

    	 

    

(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 Trust Account requested
by the Company to cover expenses related to investigating and selecting a target business and other working capital requirements;
provided, however, that the Company will not be allowed to withdraw interest income earned on the Trust Account unless there is
an amount of interest income available in the Trust Account sufficient to pay the Company’s tax obligations on such interest
income or otherwise then due at that time.

  

(c)           The
limited distributions referred to in Sections 2(a) and 2(b) above shall be made only from income collected on the
Property while the limited distributions referred to in Section 2(c) above shall be made from the Property
itself.  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.

 

(d)           In
all cases, the Company shall provide Deutsche Bank 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, Vice Chairman of
the Board, Chief Executive Officer, President or Chief Financial Officer.  In addition, except with respect to its
duties under paragraphs 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 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;

 

    	3

    	 

    

(b)           Subject
to the provisions of Section 6(g) 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 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, or pursuant to
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;

 

(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; and

 

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

 

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 paragraphs 1 and 2 hereof and the Trustee shall have no liability
to any party except for liability arising out of its own gross negligence or willful misconduct;

 

    	4

    	 

    

(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 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 paragraph 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;

 

(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 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, 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 or released to it under Section
2(a) hereof).

 

    	5

    	 

    

 

(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.           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 paragraph 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Paragraph 3(b).

 

6.           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.  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.  It
may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall
constitute but one instrument.

 

    	6

    	 

    

(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 Deutsche Bank.  As to any claim, cross-claim or counterclaim in any
way relating to this Agreement, each party waives the right to trial by jury.  The Trustee may require from Company
counsel an opinion as to the propriety of any proposed amendment.

 

(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:

 

Hyde Park Acquisition
Corp. II

500 Fifth Avenue,
50th Floor

New York, New York
10110

Attn:  Laurence
S. Levy, Chairman and Chief Executive Officer

Fax No.:  (___) ___-____

 

in either case with a copy to:

 

Deutsche Bank Securities
Inc.

300 South Grand Avenue

Los Angeles, California
90071

Attn:  Stan
Budeshtsky

Fax No.:  (213) 985-2425

 

    	7

    	 

    

(f)           
This Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(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.  The Trustee acknowledges and agrees
that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled
to any funds in the Trust Account under any circumstance. In the event that the Trustee has a claim against the Company under
this Agreement, the Trustee will pursue such claim solely against the Company and not against the Property held in the Trust Account.

 

(h)           Each
of the Company and the Trustee hereby acknowledge that Deutsche Bank is a third party beneficiary of this Agreement.

 

[Signature Page Follows]

 

    	8

    	 

    

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:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	HYDE PARK ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	9

    	 

    

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount
	 	 	 	 	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	 
	 	 	 	 	 
	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	 	 
	 	 	 	 	 
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 	 
	 	 	 	 	 
	Paying Agent services as required pursuant to section 1(i) and 2(c)	 	Billed to Company upon delivery of service pursuant to section 1(i) and 2(c)	 	Prevailing rates

 

    	10

    	 

    

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 DiPaolo

 

	 	Re:	Trust Account No.     -           Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Hyde Park Acquisition Corp. II (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of _________, 2012 (“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 and (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 if a vote is held and (b) written instructions
with respect to the transfer of the funds held in the Trust Account (“Instruction Letter”).  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, 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.

 

    	11

    	 

    

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,
	 	 
	 	HYDE PARK ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Laurence S. Levy, Chairman of the Board
	 	 
	 	By:	 
	 	 	Carol Zelinski, Secretary

 

cc: Deutsche Bank Securities
Inc.

 

    	12

    	 

    

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 DiPaolo

 

	 	Re:	Trust Account No.    -       Termination Letter

 

Gentlemen:

 

Pursuant
to paragraph 1(i) of the Investment Management Trust Agreement between Hyde Park Acquisition Corp. II (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of ________, 2012 (“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 IPO.

 

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 Checking Account. You agree to be the Paying Agent of record and in your separate capacity
as Paying Agent, to distribute said funds directly to the Company’s stockholders (other than with respect to the initial
shares) 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,
	 	 
	 	HYDE PARK ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Laurence S. Levy, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	Carol Zelinski, Secretary

 

cc: Deutsche Bank Securities
Inc.

 

    	13

    	 

    

EXHIBIT C

 

[Letterhead of Company]

 

                     [Insert
date]

 

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn:  Frank Di
Paolo and Cynthia Jordan

 

	 	Re:	Trust Account No.

 

Gentlemen:

 

Pursuant
to paragraph 2(a) of the Investment Management Trust Agreement between Hyde Park Acquisition Corp. II (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of ___________, 2012 (“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 for 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]

 

	 	HYDE PARK ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Laurence S. Levy, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	Carol Zelinski, Secretary

 

cc: Deutsche Bank Securities
Inc.

 

    	14

    	 

    

EXHIBIT D

[Letterhead of Company]

 

                     [Insert
date]

Continental Stock Transfer

& Trust Company

17 Battery Place

New York, New York 10004

Attn:  Frank Di
Paolo and Cynthia Jordan

 

	 	Re:	Trust Account No.

 

Gentlemen:

 

Pursuant
to paragraph 2(b) of the Investment Management Trust Agreement between Hyde Park Acquisition Corp. II (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of __________, 2012 (“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 cover its expenses relating to investigating and selecting a target business
and 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,
	 	 
	 	HYDE PARK ACQUISITION CORP. II
	 	 
	 	By:	 
	 	 	Laurence S. Levy, Chairman of the Board
	 	 	 
	 	By:	 
	 	 	Carol Zelinski, Secretary

 

cc: Deutsche Bank Securities
Inc.

 

    	15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00204-of-00352.parquet"}]]