Electrum Special Acquisition Corporation 700 Madison Avenue, 5th Floor New York, NY 10065

EX-10.5 17 v413243_ex10-5.htm EXHIBIT 10.5

 

Exhibit 10.5

 

Electrum Special Acquisition Corporation

700 Madison Avenue, 5th Floor

New York, NY 10065

 

June 10, 2015

  

The Electrum Group LLC

700 Madison Avenue, 5th Floor

New York, NY 10065

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that, commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration Statement”) for the initial public offering (the “IPO”) of the securities of Electrum Special Acquisition Corporation (the “Company”) and continuing until the earlier of (i) the consummation by the Company of an initial business combination or (ii) the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”), The Electrum Group LLC shall make available to the Company certain office space and administrative and support services as may be required by the Company from time to time, situated at 700 Madison Avenue, 5th Floor, New York, NY 10065 (or any successor location). In exchange therefore, the Company shall pay The Electrum Group LLC the sum of $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination Date. The Electrum Group LLC hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies that may be set aside in a trust account (the “Trust Account”) to be established upon the consummation of the IPO (the “Claim”) and hereby waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever.

 

  Very truly yours,
   
  ELECTRUM SPECIAL
  ACQUISITION CORPORATION
   
  By: /s/ Eric N. Vincent
    Name:  Eric N. Vincent
    Title: Chief Executive Officer

 

Acknowledged and Accepted by:

 

THE ELECTRUM GROUP LLC  
     
By: /s/ Andrew M. Shapiro  
  Name: Andrew M. Shapiro  
  Title:  General Counsel