As of August 10, 2005
Exhibit 10.13
As of August 10, 2005
CEA Acquisition Corporation
000 Xxxx Xxxxxxx Xxxxxxxxx – Xxxxx 0000
Xxxxx, Xxxxxxx 00000
Attention: Xxx Xxxxxxx and Xxxxxx Xxxxxxx
Gentlemen:
This is to confirm our agreement whereby CEA Acquisition Corporation (the “Company”) has agreed to compensate EarlyBirdCapital, Inc. and American Fund Advisors (together, the “Finders”) in connection with the introduction of etrials Worldwide, Inc. to the Company as follows:
A cash fee to the Finders equal to $100,000 (One Hundred Thousand) payable on the closing of the proposed transaction.
Warrants issued to the Finders or their designees, to purchase 50,000 shares of common stock on identical terms as the public warrants currently outstanding. The warrants shall be afforded unlimited piggyback registration rights for the shares underlying the warrants so long as their inclusion is permitted by the rules pertaining to the form of the registration statement and subject to customary underwriter cutbacks in the event of primary offerings.
All compensation payable to the Finders shall be paid 50% to EarlyBirdCapital, Inc. and 50% to American Fund Advisors.
If the foregoing correctly sets forth the understanding between the Finders and the Company, please so indicate your agreement by signing below, at which time this letter shall become a binding contract.
EARLYBIRDCAPITAL, INC. |
AMERICAN FUND ADVISORS | |||||||
By: | /s/ XXXXXX XXXXXX | By: | /s/ XXXX X. XXXX | |||||
Name: |
Xxxxxx Xxxxxx | Name: |
Xxxx X. Xxxx | |||||
Title: |
Chief Executive Officer | Title: |
Executive Vice President |
ACCEPETED AND AGREED TO:
CEA ACQUISITION CORPORATION | ||
By: | /s/ XXXXXX XXXXXXX | |
Name: |
Xxxxxx Xxxxxxx | |
Title: |
Executive Vice President |