Exhibit 10.4 CUSTODY, PLEDGE AND SECURITY AGREEMENT -------------------------------------- CUSTODY, PLEDGE AND SECURITY AGREEMENT, dated as of December 19, 2007 ("Agreement"), by and among ORBIT INTERNATIONAL CORP., a Delaware corporation ------...Custody, Pledge and Security Agreement • December 21st, 2007 • Orbit International Corp • Electronic components, nec • Kentucky
CUSTODY, PLEDGE AND SECURITY AGREEMENT -------------------------------------- CUSTODY, PLEDGE AND SECURITY AGREEMENT, dated as of December 19, 2007 ("Agreement"), by and among ORBIT INTERNATIONAL CORP., a Delaware corporation ------ ("Pledgor"), KENNETH J. ICE, MICHAEL R. RHUDY and JULIE A. MCDEARMAN (each, a "Pledgee" and collectively, the "Pledgees") and Phillips Nizer LLP a New York limited liability partnership, as custodian (the "Custodian"). This Agreement is made pursuant to the Stock Purchase Agreement (the "SPA") dated as of December 19, 2007, by and among Pledgor, Integrated Consulting Services, Inc. ("ICS"), a Kentucky corporation, and the Pledgees. CAPITALIZED TERMS USED AND NOT OTHERWISE DEFINED HEREIN THAT ARE DEFINED IN THE SPA SHALL HAVE THE MEANINGS GIVEN SUCH TERMS IN THE SPA.
