Attached files
| file | filename |
|---|---|
| EX-10.1 - EXHIBIT 10.1 - COMMITTED CAPITAL ACQUISITION Corp II | v440105_ex10-1.htm |
| EX-99.1 - EXHIBIT 99.1 - COMMITTED CAPITAL ACQUISITION Corp II | v440105_ex99-1.htm |
| 8-K - FORM 8-K - COMMITTED CAPITAL ACQUISITION Corp II | v440105_8k.htm |
EXHIBIT 10.2
COMMITTED CAPITAL ACQUISITION CORPORATION II
712 Fifth Avenue
22nd Floor
New York, New York 10019
May 16, 2016
Serruya Private Equity
210 Shields Court
Markham, Ontario
L3R 8V2, Canada
RE: Unanimous Board Approval of Initial Business Transaction
Ladies and Gentlemen:
Reference is made to that certain term sheet (the “Term Sheet”, attached hereto as Exhibit A), dated as of May 10, 2016, by and among Committed Capital Acquisition Corporation II, a Delaware corporation (the “Company”), and Serruya Private Equity (“SPE”).
WHEREAS, pursuant to the Term Sheet, SPE and/or its designees have committed to invest up to $50,000,000 in connection with the closing of an initial business transaction (a “Transaction”);
WHEREAS, the Company appointed Aaron Serruya as SPE’s designee to the Company’s Board of Directors (the “Board”);
WHEREAS, the Term Sheet requires that the Company agree that it will not consummate a Transaction without unanimous consent of the Board.
NOW THEREFORE, in consideration of the mutual covenants, agreements and promises contained in the Term Sheet, the receipt and adequacy of which is hereby acknowledged:
The Company hereby agrees and covenants that it will not consummate a Transaction without the unanimous consent of the Board.
[Signature Page to Follow]
COMMITTED CAPITAL ACQUISITION CORPORATION II
By: /S/ Michael Rapp
Name: Michael Rapp
Title: Chairman and Chief Executive Officer