Office and Secretarial Services Agreement between Services Acquisition Corp. International and Mercantile Companies, Inc.
Services Acquisition Corp. International (SACI) and Mercantile Companies, Inc. have agreed that Mercantile will provide office space and secretarial services to SACI at a specified address. SACI will pay Mercantile $2,625 per month for these services, starting from the effective date of SACI's IPO registration statement and continuing until SACI either completes a business combination or is liquidated. The agreement outlines the basic terms of service provision and payment between the two companies.
Exhibit 10.16
SERVICES ACQUISITION CORP. INTERNATIONAL
401 East Olas Boulevard, Suite 1140
Fort Lauderdale, FL 33301
| March 29, 2005 |
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Mercantile Companies, Inc. | |
1372 Shermer Road | |
Northbrook, IL 60062 | |
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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 Services Acquisition Corp. International (SACI) and continuing until (the Termination Date) the earlier of the consummation by SACI of a Business Combination or SACIs liquidation (as described in SACIs IPO prospectus), Mercantile Companies, Inc. shall make available to SACI certain office and secretarial services as may be required by SACI from time to time, situated at 1372 Shermer Road, Northbrook, IL 60062. In exchange therefor, SACI shall pay Mercantile Companies, Inc. the sum of $2,625 per month on the Effective Date and continuing monthly thereafter until the Termination Date.
| Very truly yours, | ||||
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| SERVICES ACQUISITION CORP. INTERNATIONAL | ||||
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| By: | /s/ Thomas E. Aucamp |
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| Name: Thomas E. Aucamp | ||||
| Title: Vice President | ||||
AGREED TO AND ACCEPTED BY: |
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MERCANTILE COMPANIES, INC. |
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By: | /s/ I. Steven Edelson |
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Name: I. Steven Edelson |
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Title: President |
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