Amendment to Insider Letters Among Millstream Acquisition Corporation, EarlyBirdCapital, and Certain Insiders (June 2003)

Summary

Millstream Acquisition Corporation, EarlyBirdCapital, Inc., and several individual insiders and trusts have agreed to amend their previous insider letter agreements. This amendment removes EarlyBirdCapital's right of first refusal for public sales and deletes certain provisions regarding compensation for originating a business combination. The parties confirm that insiders will not receive or accept any finder's fee or other compensation if they originate a business combination. The agreement is effective as of June 2003 and is signed by all involved parties.

EX-10.11 10 a2113748zex-10_11.htm EXHIBIT 10.11

Exhibit 10.11

June    , 2003

Millstream Acquisition Corporation
c/o Arthur Spector
435 Devon Park Drive
Building 400
Wayne, Pennsylvania 19087

EarlyBirdCapital, Inc.
600 Third Avenue
33rd Floor
New York, New York 10016

    Re:
    Insider Letters

Gentlemen:

        Each of the undersigned hereby confirm that:

        1.     Section 10 of the letter agreements, dated May 9, 2003, among Millstream Acquisition Corporation ("Company"), EarlyBirdCapital, Inc. ("EBC") and each of Arthur Spector, Dr. Heinz C. Schimmelbusch, Robert E. Keith, Jr. and Don K. Rice and Section 9 of the letter agreements, dated May 9, 2003, among the Company, EBC and each of the Spector Family Trust and J. Brian O'Neill, relating to the right of first refusal granted to EBC by the undersigned for public sales, is hereby deleted in its entirety; and

        2.     The last proviso of Section 6 of the letter agreements, dated May 9, 2003, among the Company, EBC and each of Arthur Spector, Dr. Heinz C. Schimmelbusch, Robert E. Keith, Jr. and Don K. Rice and the last proviso of Section 5 of the letter agreements, dated May 9, 2003, among the Company, EBC and each of the Spector Family Trust and J. Brian O'Neill, is hereby deleted in its entirety such that Section 6 and Section 5 read as follows, respectively;

    "The undersigned will not be entitled to receive and will not accept a finder's fee or any other compensation in the event the undersigned originates a Business Combination."



Arthur Spector

 


Dr. Heinz C. Schimmelbusch

 

 

 

 

 

Robert E. Keith, Jr,
 
Don K. Rice

 

 

 

 

 
      SPECTOR FAMILY TRUST

 

 

 

 

 
      By:  

J. Brian O'Neill
   
Adam B. Spector, Trustee

 

 

 

 

 
      By:  
       
Jeremy D. Spector, Trustee

 

 

 

 

 
         

Accepted and Agreed:      

 

 

 

 

 
MILLSTREAM ACQUISITION CORPORATION      

 

 

 

 

 
By:        
 
Arthur Spector, Chairman
     

 

 

 

 

 
EARLYBIRDCAPITAL, INC.      

 

 

 

 

 
By:        
 
Steven Levine, Chairman