Services Agreement between Selway Capital Acquisition Corporation and Selway Capital LLC

Contract Categories: Business Operations › Services Agreements
Summary

Selway Capital Acquisition Corporation and Selway Capital LLC have agreed that, starting from the effective date of the company's initial public offering registration, Selway Capital LLC will provide office space, utilities, and secretarial support to the company at a specified address. The company will pay $5,000 per month for these services for up to 12 months. If the company does not complete an acquisition or distribute its trust account within 12 months, Selway Capital LLC will continue providing these services at no additional cost until the agreement ends.

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EX-10.4 8 v229619_ex10-4.htm Unassociated Document
 
Selway Capital Acquisition Corporation
74 Grand Avenue
2nd Floor
Englewood, NJ 07631
 
_________, 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 12 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 12 month period.

 
[Signature page follows]
 
 
 
 
 
 
Very truly yours,
   
 
SELWAY CAPITAL ACQUISITION CORPORATION.
   
 
By:
  
 
Name:
  
 
Title:
  
 
Agreed to and Accepted as of the date first written
above by:
  
   
SELWAY CAPITAL LLC
  
   
By:
    
Name:
    
Title:
    
 
Services Agreement