Clarification Letter to Registration Rights and Founding Director Warrant Purchase Agreements – HD Partners Acquisition Corporation and Investors

Summary

This letter agreement, dated December 29, 2006, is between HD Partners Acquisition Corporation and its initial stockholders and warrant purchasers. It clarifies that if a registration statement for securities from Founding Director Warrants is not effective when a holder wants to exercise, those warrants may expire unused. The company is not required to pay cash or settle these warrants in any other way if they cannot be exercised. The letter is signed by the company and all relevant investors and purchasers.

EX-4.5 6 a06-26620_1ex4d5.htm EX-4

Exhibit 4.5

December 29, 2006

HD Partners Acquisition Corporation

2601 Ocean Park Boulevard

Suite 320

Santa Monica, California 90405

Re:  Registration Rights Agreement/Founding Director Warrant Purchase Agreement

Ladies and Gentlemen:

Reference is made to the Registration Rights Agreement dated June 7, 2006 by and among HD Partners Acquisition Corporation, a Delaware corporation (the “Company”), and the initial stockholders of the Company (the “Registration Rights Agreement”) and the Founding Director Warrant Purchase Agreement dated May 9, 2006 by and among the Company and the purchasers listed as signatories thereto (the “Founding Director WPA” and together with the Registration Rights Agreement, the “Agreements”).  The Company, the initial stockholders under the Registration Rights Agreement and the purchasers under the Founding Warrant WPA are collectively referred to as the “Parties”.  Except as otherwise indicated herein, capitalized terms not otherwise defined in this letter have the meanings given to such terms in the Agreements.

For purposes of clarification of the Agreements, the Parties wish to acknowledge that notwithstanding anything to the contrary in the Agreements: (i) if a registration statement covering the securities issuable upon the exercise of the Founding Director Warrants was not effective at the time a holder desired to exercise the instruments, then such Founding Director Warrants could expire unexercised, and (ii) in no event would the Company be obligated to pay cash or other consideration to the holders of such Founding Director Warrants or “net-cash settle” the obligations of the Company under either of the Agreements.

 

 

Very truly yours,

 

 

 

 

 

COMPANY

 

 

 

 

HD PARTNERS ACQUISITION CORPORATION

 

 

 

 

 

/s/ Eddy Hartenstein

 

 

By:    Eddy Hartenstein

 

 

Title: Chairman, President and CEO

 




 

 

INVESTORS

 

 

 

 

 

Robert Lewis Meyers and Karen L. Meyers Family Trust

 

 

 

 

 

/s/ Robert L. Meyers

 

 

By: Robert L. Meyers, Trustee

 

 

 

 

 

Cox-King Family Living Trust

 

 

 

 

 

/s/ Steven J. Cox

 

 

By: Steven J. Cox, Trustee

 

 

 

 

 

Chapman Revocable Trust dated February 27, 2001

 

 

 

 

 

/s/ Lawrence N. Chapman

 

 

By: Lawrence N. Chapman, Trustee

 

 

 

 

 

Lederman Family Trust dated January 17, 2000

 

 

 

 

 

/s/ Bruce Lederman

 

 

By: Bruce Lederman

 

 

 

 

 

Eddy W. Hartenstein

 

 

 

 

 

/s/ Eddy W. Hartenstein

 

 

Eddy W. Hartenstein

 

 

 

 

 

Henry Goldberg

 

 

 

 

 

/s/ Henry Goldberg

 

 

Henry Goldberg

 

 

 

 

 

Martin E. Gottlieb

 

 

 

 

 

/s/ Martin E. Gottlieb

 

 

Martin E. Gottlieb

 




 

PURCHASERS

 

 

/s/ Lawrence Chapman

 

Lawrence Chapman

 

 

 

/s/ Steven Cox

 

Steven Cox

 

 

 

/s/ Eddy Hartenstein

 

Eddy Hartenstein

 

 

 

/s/ Bruce Lederman

 

Bruce Lederman

 

 

 

/s/ Robert Meyers

 

Robert Meyers