Administrative Services Agreement between Santa Monica Media Corporation and Santa Monica Capital Corp.

Contract Categories: Business Operations › Services Agreements
Summary

Santa Monica Media Corporation and Santa Monica Capital Corp. have agreed that Santa Monica Capital Corp. will provide general administrative services, including office space, utilities, and secretarial support, to Santa Monica Media Corporation. The agreement sets a monthly fee of $7,500, with specific payment and accrual terms: $45,000 will accrue but not be paid for the first six months, no fees accrue for the next period, and the accrued amount is paid after the company's IPO. Payments continue monthly until a total of $180,000 is paid or until a business combination occurs, whichever comes first.

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EX-10.4 3 v19539a2exv10w4.htm EXHIBIT 10.4 exv10w4  

Exhibit 10.4
Santa Monica Media Corporation
9229 Sunset Boulevard, Suite 505
Los Angeles, California 90069
(310)  ###-###-#### Office
(310)  ###-###-#### Facsimile
     
 
  April 20, 2006
Santa Monica Capital Corp.
9229 Sunset Boulevard, Suite 505
Los Angeles, California 90069
Gentlemen:
     This will confirm our revised agreement pursuant to which you will provide general and administrative services to us, including office space, utilities and secretarial support. Commencing July 5, 2005, we will pay you a monthly fee of $7,500.00 subject to the following: For the six-month period from July 5, 2005 to January 5, 2006, we will accrue and not pay to you an aggregate fee of $45,000.00. For the period from January 5, 2006 until the sixth-month anniversary of the completion of our initial public offering, no monthly fee will accrue. On the sixth-month anniversary of our initial public offering, we will pay to you the entire accrued amount of $45,000.00 for the period prior to January 5, 2006. During each month following the sixth-month anniversary of the completion of the offering, we will pay to you a fee of $7,500.00. Our obligation to pay such fees will terminate as soon as we have paid to you aggregate fees of $180,000.00 or, if earlier, upon the completion of our initial business combination.
     Please confirm your agreement with the foregoing by signing and returning a copy of this letter.
             
        Sincerely,
 
            
 
          Santa Monica Media Corporation
 
            
 
          /s/ David Marshall
 
           
 
          By: David Marshall, President
 
            
Agreed to:
            
 
            
Santa Monica Capital Corp.
            
 
/s/ David Marshall 
            
             
By: David Marshall, President