Administrative Support Letter Agreement between Global Technology Industries, Inc. and GTI Holdings, LLC
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Summary
Global Technology Industries, Inc. and GTI Holdings, LLC have agreed that, starting from the effective date of Global Technology Industries' IPO registration statement and continuing until the company completes a business combination, GTI Holdings will provide limited administrative, technology, secretarial services, and office space to the company. In return, Global Technology Industries will pay GTI Holdings $7,500 per month for these services. The agreement is effective at the company's office in New York and continues on a monthly basis until the specified business event occurs.
EX-10.4 15 v037053_ex10-4.htm LETTER AGREEMENT REGARDING ADMINISTRATIVE SUPPORT
LETTER AGREEMENT
GLOBAL TECHNOLOGY INDUSTRIES, INC.
March , 2006
GTI Holdings, LLC
375 Park Avenue, Suite 1505
New York, NY 10152
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 Global Technology Industries, Inc. (“Company”) and continuing until the consummation by the Company of a “Business Combination” (as described in the Company’s IPO prospectus) GTI Holdings, LLC shall make available to the Company certain limited administrative, technology and secretarial services, as well as the use of certain limited office space, as may be required by the Company from time to time, situated at 375 Park Avenue, Suite 1505, New York, NY 10152 (or any successor location). In exchange therefor, the Company shall pay GTI Holdings, LLC the sum of $7,500 per month on the Effective Date and continuing monthly thereafter.
| Very truly yours, | ||
| GLOBAL TECHNOLOGY INDUSTRIES, INC. | ||
| By: Robert B. Kay | ||
| Title: Chief Executive Officer | ||
| AGREED TO AND ACCEPTED BY: | ||
| GTI HOLDINGS, LLC | ||
| By: | ||
| Title: |
