Selway Capital Acquisition Corporation 74 Grand Avenue 2nd Floor Englewood, NJ 07631

EX-10.4 8 v304465_ex10-4.htm EXHIBIT 10.4

 

Selway Capital Acquisition Corporation

74 Grand Avenue

2nd Floor

Englewood, NJ 07631

 

November 7, 2011

Selway Capital LLC

74 Grand Avenue

2nd Floor

Englewood, NJ 07631

 

Gentlemen:

 

This letter will confirm our agreement that commencing on the effective date (the “Effective Date”) of the registration statement (the “Registration Statement”) relating to the initial public offering of the securities of Selway Capital Acquisition Corporation (the “Company”) and continuing until the consummation by the Company of an acquisition transaction or the distribution of the trust account to the Company’s then public shareholders (as described in the Registration Statement), Selway Capital LLC (the “Firm”) shall make available to the Company certain general and administrative services, including the use of office space, utilities and secretarial support, as may be required by the Company from time to time, at 74 Grand Avenue, 2nd Floor, Englewood, NJ 07631 (or any successor location). In exchange therefor, the Company shall pay the Firm at the rate of $5,000 per month for up to a maximum of 6 months from the Effective Date. The Firm hereby agrees to continue to provide office space, administrative services and secretarial support without further payment until termination of this agreement if the Company has not completed an acquisition transaction and distributed or liquidated the trust account prior to the end of such 6 month period.

 

[Signature page follows]

 

 
 

 

  Very truly yours,
   
  SELWAY CAPITAL ACQUISITION CORPORATION
   
  By: /s/ Yaron Eitan
  Name: Yaron Eitan
  Title: Chief Executive Officer

 

Agreed to and Accepted as of the date first written above by:  
   
SELWAY CAPITAL LLC  
   
By: /s/ Yaron Eitan  
Name: Yaron Eitan  
Title: Managing Partner  

 

Services Agreement