[Signatures on next page.]

EX-10.4 5 v142845_ex10-4.htm Unassociated Document
March 13, 2009

Tremisis Energy Acquisition Corporation II
2925 Briarpark, Suite 150-A
Houston, TX 77042
Attention: Ronald D. Ormand

Each of the Investors
set forth in Schedule A
c/o SoftForum Co., Ltd.
(135-270) 7th Floor, SoftForum B/D.
545-7 Dogok-Dong,
Gangnam-Gu, Seoul 135-270 S. Korea
Attention: Sang-Chul Kim, Chairman

Dear Sirs:

Pursuant to that certain Registration Rights Agreement (the “RRA”), dated as of December 6, 2007, by and among Tremisis Energy Acquisition Corporation II, a Delaware Corporation (the “Company”), and the respective undersigned parties (each, individually, a “Stockholder”, and collectively, the “Stockholders”), the Company has granted the Stockholders certain registration rights (the “Registration Rights”) with respect to (a) the shares (the “Warrant Shares”) of common stock of the Company underlying warrants (the “Warrants”) purchased by the Stockholders under the terms of certain Warrant Subscription Agreements (the “Agreements”), by and between the Company and each respective Stockholder, and (b) the shares of common stock (the “Insider Shares”, and together with the Warrant Shares, the “Registrable Securities”) purchased by the Stockholders from the Company prior to the Company’s initial public offering.

The Stockholders have executed an agreement (the “Put/Call Agreement”) of even date herewith pursuant to which the parties have granted each other put and call options by which the Stockholders may sell the Warrants and transfer, for no consideration, certain of the Insider Shares to the investors set forth in Schedule A attached hereto (the “Investors”), in the amounts identified in Schedule A upon consummation of a Business Combination (defined in the RRA).  In connection with the potential sale of the Warrants and transfer of certain of the Insider Shares upon consummation of a Business Combination, the Stockholders desire to assign their Registration Rights conditionally with respect to the Warrants and Insider Shares that may be sold and transferred to the Investors in accordance with Section 6.2 of the RRA, and the Company has agreed to consent to such assignment. Accordingly, upon consummation of a Business Combination and subsequent sale of Warrants and transfer of Insider Shares, the Stockholders’ Registration Rights with respect to such securities shall be assigned to the Investors.  The Stockholders shall maintain their Registration Rights with respect to any Insider Shares not transferred to the Investors.  Until the Warrants and Insider Shares are transferred in accordance with the Put/Call Agreement, the Registration Rights will not be assigned by the Stockholders to the Investors.  Upon consummation of a Business Combination and sale of the Warrants and transfer of Insider Shares, the Investors shall become parties to the RRA and the parties thereto hereby consent to amend such RRA at that time such that the Investors shall have all the benefits of the Stockholders with respect to the transferred Warrants and the Registrable Securities under the RRA as if they were original parties thereto.

 
 

 

This letter serves as each Stockholder’s irrevocable assignment of the Registration Rights, and the Company’s consent to such assignment.

[Signatures on next page.]

 
 

 

Very truly yours,
 
SELLERS:
 
/s/ Lawrence S. Coben
Lawrence S. Coben
 
/s/ Ronald D. Ormand
Ronald D. Ormand
 
/s/ Jon Schotz
Jon Schotz
 
/s/ Charles A. Norris
Charles A. Norris
 
/s/ Stephen N. Casati
Stephen N. Casati
 
/s/ Bill Goldstein
Bill Goldstein
 
/s/ Dean Vanech
Dean Vanech
 
/s/ Dean Vanech
Olympus Capital Investment, LLC
By: Dean Vanech
Its: Member
 
/s/ Jerry Doren
Jerry Doren
 
/s/ Owen Coleman
Owen Coleman

[Signature Page - Registration Rights Assignment Letter]


 
 

 

/s/ Bill Armstrong
Bill Armstrong
 
/s/ Trevor Wilson
Trevor Wilson
 
/s/ Brian McInerney
Brian McInerney
 
/s/ Richard Kassar
Richard Kassar
 
/s/ David Levine
David Levine
 
/s/ Jim Land
Jim Land
 
/s/ David A. Preiser
David A. Preiser
 
/s/ Gary C. Evans
Gary C. Evans
 
/s/ Jonathan Jacobs
Jonathan Jacobs

The undersigned acknowledges and consents to the foregoing terms.

COMPANY:

TREMISIS ENERGY ACQUISITION CORPORATION II

By:
/s/ Lawrence S. Coben
 
Name: Lawrence S. Coben
 
Title: Chief Executive Officer
 
[Signature Page - Registration Rights Assignment Letter]

 
 

 

Schedule A

Seller
 
Insider Shares
   
Warrants
 
Lawrence S. Coben
    794,187       450,000  
Ronald D. Ormand
    794,187       450,000  
Jon Schotz
    138,391       250,000  
Charles A. Norris
    138,391       250,000  
Stephen N. Casati
    18,528       -  
Bill Goldstein
    26,969       75,000  
Dean Vanech
    35,959       -  
Olympus Capital Investment, LLC
    -       100,000  
Jerry Doren
    26,969       75,000  
Owen Coleman
    26,969       75,000  
Bill Armstrong
    26,969       112,500  
Trevor Wilson
    13,485       75,000  
Brian McInerney
    13,485       37,500  
Richard Kassar
    13,485       37,500  
David Levine
    13,485       37,500  
Jim Land
    13,485       37,500  
David A. Preiser
    17,979       50,000  
Gary C. Evans
    179,794       500,000  
Jonathan Jacobs
    13,485       37,500