Exhibit 10.3
TAILWIND FINANCIAL INC.
July 12, 0000
Xxxxxxxx Xxxxxxxx Ltd.
000 Xxx Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxx, Xxxxxx X0X 0X0
Gentlemen:
This letter will confirm our agreement that, commencing on the effective
date ("EFFECTIVE DATE") of the registration statement for the initial public
offering ("IPO") of the securities of Tailwind Financial Inc. ("COMPANY") and
continuing until the consummation by the Company of a business combination (as
described in the Company's IPO prospectus) or the distribution of the trust
account (as described in the Company's IPO prospectus) to the Company's public
stockholders, Parkwood Holdings Ltd. or its affiliates shall make available to
the Company certain general and administrative services including utilities and
administrative support, as well as the use of certain limited office space, as
may be required by the Company from time to time, initially situated at 000 Xxx
Xxxxxx, Xxxxx 0000, Xxxxxxx, XX X0X 0X0 (or any successor location). In exchange
therefor, the Company shall pay Parkwood Holdings Ltd., or its affiliate, the
sum of $7,500 per month beginning on the Effective Date and continuing monthly
thereafter until consummation of an initial transaction.
Very truly yours,
TAILWIND FINANCIAL INC.
By: /s/ Xxxxxx X. XxXxx
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Name: Xxxxxx X. XxXxx
Title: President and Chief Executive Officer
AGREED TO AND ACCEPTED BY:
PARKWOOD HOLDINGS LTD.
By: /s/ Xxxxxx X. XxXxx
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Name: Xxxxxx X. XxXxx
Title: Chief Executive Officer