EX-99.7 3 v134835_ex99-7.htm Unassociated Document
 
Exhibit 99.7
TERMINATION AGREEMENT
     
THIS TERMINATION AGREEMENT (this "Termination Agreement") is made and entered into as of this 15th day of December, 2008, by and among Wynnefield Partners Small Cap Value, L.P., Wynnefield Partners Small Cap Value, L.P. I, Wynnefield Small Cap Value Offshore Fund, Ltd., Channel Partnership II L.P., Wynnefield Capital Management LLC, Wynnefield Capital Inc., Nelson Obus, Joshua Landes, North Star Partners, L.P., North Star Partners II, L.P., Circle T. Explorer Master Limited, NS Advisors, LLC, and Andrew R. Jones (each a “Reporting Person”, and collectively, the “Reporting Persons”).  Capitalized terms used, but not defined herein, shall have the meanings ascribed to them in the Reporting Persons’ Statement of Beneficial Ownership on Schedule 13D filed with the Securities and Exchange Commission on December 6, 2006 (the “Schedule 13D”).
 
 WHEREAS, the Reporting Persons entered into a Joint Filing Agreement, dated March 13, 2007 (the “Joint Filing Agreement”), pursuant to which the Reporting Persons agreed to prepare jointly and file timely the Schedule 13D and all amendments thereto with respect to their respective ownership of the Common Stock of Cornell Companies, Inc.
 
 NOW, THEREFORE, each of the Reporting Persons separately and together desire to mutually terminate the Joint Filing Agreement, and hereby agree as follows:
 
1.      Termination of Joint Filing Agreement. Each party to the Joint Filing Agreement, individually, and as a group, hereby agrees to terminate the Joint Filing Agreement and confirms that, as of the date hereof, the Joint Filing Agreement has been terminated and ceases to be of further effect.
 
2.      Release and Discharge. Each of the Reporting Persons hereby mutually and unconditionally releases and discharges each other Stockholder from all of its obligations under the Joint Filing Agreement to which they are a party.
 
                3.      Counterparts. This Termination Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument.

[signature pages follow]

 
 
 

 


           IN WITNESS WHEREOF, the parties hereto have executed this Termination Agreement as of the date first set forth above.
 
 
 
 
 
 
 
 

WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: WYNNEFIELD CAPITAL MANAGEMENT LLC, its General Partner
 
By: /s/ Nelson Obus
      Nelson Obus, Co-Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: WYNNEFIELD CAPITAL MANAGEMENT LLC, its General Partner
 
By: /s/ Nelson Obus
      Nelson Obus, Co-Managing Member
 
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: WYNNEFIELD CAPITAL, INC.
 
By: /s/ Nelson Obus
      Nelson Obus, President
 
WYNNEFIELD CAPITAL MANAGEMENT, LLC
 
By: /s/ Nelson Obus
      Nelson Obus, Co-Managing Member
WYNNEFIELD CAPITAL, INC.
 
By: /s/ Nelson Obus
       Nelson Obus, President
CHANNEL PARTNERSHIP II, L.P.
 
By: /s/ Nelson Obus
      Nelson Obus, General Partner
 
 
/s/ Joshua H. Landes
Joshua H. Landes
 
 
/s/ Nelson Obus
Nelson Obus


 
 
 

 

           IN WITNESS WHEREOF, the parties hereto have executed this Termination Agreement as of the date first set forth above.

NORTH STAR PARTNERS, L.P.
 
By:  NS ADVISORS, LLC
 Its General Partner
 
By:  /s/ Andrew R. Jones
          Andrew R. Jones, Manager
 
NORTH STAR PARTNERS, II L.P.
 
By:  NS ADVISORS, LLC
 Its General Partner
 
By:  /s/ Andrew R. Jones
         Andrew R. Jones, Manager
 
CIRCLE T. EXPLORER MASTER LIMITED
 
By:  NS ADVISORS, LLC
 Its Portfolio Manager
 
By:  /s/ Andrew R. Jones
          Andrew R. Jones, Manager
 
NS ADVISORS, LLC
  
By:  /s/ Andrew R. Jones                                                      
          Andrew R. Jones, Manager
 
 
 
/s/ Andrew R. Jones
Andrew R. Jones