BOULDER SPECIALTY BRANDS, INC.
Exhibit 10.17
BOULDER SPECIALTY BRANDS, INC.
0000 Xxxxxxx Xxxxx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
June 22, 2005
Xxxxxx Consulting, Inc.
0000 Xxxxxxx Xxxxx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
Jeltex Holdings, LLC
00000 Xxxx Xxxxxx Xxxxxx, Xxxxx 000
Xxxxxxxxxx, Xxxxxxxx 00000
Gentlemen:
This letter will confirm the agreement by and among Boulder Specialty Brands, Inc., a Delaware corporation (the “Company”), Xxxxxx Consulting, Inc. (“HCI”) and Jeltex Holdings, LLC (“JHL”; HCI and JHL are hereinafter collectively referred to as the “Management Companies”) that, commencing on the effective date (“Effective Date”) of the initial public offering (“IPO”) of the Company’s securities and continuing until the earlier of (i) the consummation by the Company of a “Business Combination,” or (ii) the Company’s liquidation as described in the Company’s definitive prospectus relating to the IPO (hereinafter, the earlier of such dates is referred to as the “Termination Date”), the Management Companies shall jointly make available to the Company certain office space, administrative services and secretarial services as may be required by the Company from time to time, at HCI’s primary offices situated at 0000 Xxxxxxx Xxxxx Xxxxx, Xxxxxxxx, Xxxxxxxx 00000, and at the offices of JHL at 00000 Xxxx Xxxxxx Xxxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxx 00000, or at such successor facilities as shall be suitable to meet the Company’s needs and as the Management Companies may elect to provide in lieu of the foregoing offices. In exchange therefore, the Company shall pay the Management Companies a combined sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date.
| Very truly yours, | ||
| By: |
/s/ Xxxxx X. Xxxxx | |
| Name: |
Xxxxx X. Xxxxx | |
| Title: |
Vice Chairman | |
| AGREED TO AND ACCEPTED BY: | ||
| XXXXXX CONSULTING, INC. | ||
| By: |
/s/ Xxxxxxx X. Xxxxxx | |
| Name: Xxxxxxx X. Xxxxxx | ||
| Title: Chief Executive Officer | ||
1
| JELTEX HOLDINGS, LLC | ||
| By: |
/s/ Xxxxx X. Xxxxx | |
| Name: Xxxxx X. Xxxxx | ||
| Title: Chief Executive Officer | ||
2
