Exhibit 10.20
TERMINATION
AGREEMENT
This Termination Agreement, dated as
of December 26, 2006 (this “ Agreement ”), is
made by and between Aldabra Acquisition Corporation (“
Aldabra ”) and Terrapin Partners, LLC (“
Terrapin ”). Capitalized terms used herein but
not defined shall have the meanings ascribed thereto in the Letter
Agreement (as hereinafter defined).
RECITALS
WHEREAS, Aldabra and Terrapin are
parties to that certain Letter Agreement, dated on or about
February 7, 2005 (the “ Letter Agreement ”),
pursuant to which Aldabra agreed to pay Terrapin a sum of $7,500
per month (the “Monthly Fee”) in exchange for certain
administrative, technology and secretarial services;
WHEREAS, pursuant to Section
5.C(vii) of the Agreement and Plan of Merger, dated June 20, 2006
(the “Merger Agreement”), by and among GLDD
Acquisitions Corp., Aldabra, Aldabra Merger Sub, L.L.C., and
certain of their respective stockholders as representatives of the
parties to the merger agreement, Aldabra must terminate its
arrangements to pay Terrapin the Monthly Fee as a condition to
completing the merger contemplated by the Merger Agreement;
and
WHEREAS, pursuant to the terms
hereof, Aldabra and Terrapin desire to terminate the Letter
Agreement and any rights and obligations derived therefrom,
including Aldabra’s obligation to pay the Monthly Fee to
Terrapin.
NOW, THEREFORE, in consideration of
the mutual agreements set forth herein, the parties hereto agree as
follows:
Secti
