Document:

Exhibit 10.2

 

[_________], 2021

 

Hawks Acquisition Corp

600 Lexington Avenue, 9th Floor

New York, NY, 10022

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) entered into or proposed to be entered into by Hawks Acquisition Corp, a Delaware corporation (the
 “Company”), and [_________] [and [_________]] as [the representatives [the
 “Representative[s]”) of] the [several] underwriter[s] named therein ([each] an
 “Underwriter” [and collectively, the “Underwriters”]), relating to an
underwritten initial public offering (the “Public Offering”), of 23,000,000 of the Company’s units
(including up to 3,000,000 units that may be purchased to cover the Underwriters’ option to purchase additional units, if any)
(the “Units”), each comprised of one share of Class A common stock of the Company, par value $0.0001 per
share (“Class A Common Stock”), and one-half (1/2) of one redeemable public warrant (each whole public
warrant, a “Public Warrant”). Each Public Warrant entitles the holder thereof to purchase one share of
Class A Common Stock at a price of $11.50 per share, subject to adjustment, as described in the Prospectus (as defined below). The
Units will be sold in the Public Offering pursuant to a registration statement on Form S-1 and a prospectus (the
 “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the
 “Commission”) and the Company has applied to have the Units listed on the New York Stock Exchange. Certain
capitalized terms used herein are defined in paragraph 11 hereof.

 

In order to induce the Company and the [Representative(s) on
behalf of the] Underwriter[s] to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Hawks Sponsor LLC, a Delaware limited
liability company (the “Sponsor”), and the other undersigned persons (each such other undersigned persons,
an “Insider” and collectively, the “Insiders”), each hereby agrees, severally
but not jointly, with the Company as follows:

 

1. The Sponsor and each Insider agrees that if the Company seeks
stockholder approval of a proposed Business Combination, then in connection with such proposed Business Combination, it, he or
she shall (i) vote any Shares owned by it, him or her in favor of any proposed Business Combination (including any proposals recommended
by the Company’s Board of Directors in connection with such Business Combination) and (ii) not redeem any Shares owned by
it, him or her in connection with such stockholder approval. If the Company seeks to consummate a proposed Business Combination
by engaging in a tender offer, the Sponsor and each Insider agrees that it, he or she will not sell or tender any shares of Capital
Stock owned by it, him or her to the Company in connection therewith.

 

2. The Sponsor and each Insider hereby agrees
that in the event that the Company fails to consummate a Business Combination within 18 months (or up to 24 months, as provided by Section
9.1(c) of the Company’s amended and restated certificate of incorporation (the “Charter”)), or such other
time period in which we must consummate an initial business combination pursuant to an amendment to the Charter, from the closing of
the Public Offering (the “Completion Window”), or such later period approved by the Company’s stockholders
in accordance with the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten (10) business days thereafter, subject
to lawfully available funds therefor, redeem 100% of the Class A Common Stock sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest (which interest shall be net of (i) taxes payable and (ii) amounts withdrawn to fund the Company’s working capital requirements,
subject to an annual limit of $$1,000,000 (“Permitted Withdrawals”) and less up to $100,000 of interest to
pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all
Public Stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject
to applicable law and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s
remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s
obligations under Delaware law to provide for claims of creditors and any other requirements of applicable law. The Sponsor and each
Insider agrees to not propose any amendment to the Charter (A) to modify the substance or timing of the Company’s obligation to
allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares if the
Company does not complete its initial Business Combination within the Completion Window or (B) with respect to any other material provision
relating to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides its Public Stockholders
with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per share price, payable in cash, equal
to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of Permitted Withdrawals),
divided by the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each Insider acknowledges that it, he or she
has no right, title, interest or claim of any kind in or to any monies held in the Trust Account as a result of any liquidation
of the Company with respect to the Founder Shares held by it. The Sponsor and each Insider hereby further waives, with respect
to any Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection with (x) the consummation
of a Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to approve
such Business Combination or in the context of a tender offer made by the Company to purchase shares of Class A Common Stock and
(y) a stockholder vote to approve an amendment to the Charter (A) to modify the substance or timing of the Company’s obligation
to allow redemptions in connection with the Company’s initial Business Combination or to redeem 100% of the Offering Shares
if the Company has not consummated its initial Business Combination within the Completion Window or (B) with respect to any other
material provision relating to stockholders’ rights or pre-initial Business Combination activity (although the Sponsor and
the Insiders shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the
Company fails to consummate a Business Combination the time period set forth in the Charter or in connection with a stockholder
vote to approve an amendment to the Charter to modify the substance or timing of the Company’s obligation to redeem 100%
of the Offering Shares if the Company does not complete a Business Combination within the time period set forth in the Charter
or with respect to any other material provisions relating to stockholders' rights or pre-initial Business Combination activity).

 

3. Notwithstanding the provisions set
forth in paragraphs 7(a) and (b) below, during the period commencing on the effective date of the Underwriting Agreement and
ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of the
Representative[s], (i) offer, sell, contract to sell, pledge or grant any option to purchase or otherwise dispose of (or
enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by
actual disposition or effective economic disposition due to cash settlement or otherwise)), directly or indirectly, or
establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of
Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder (the “Exchange Act”), with respect to, any Units, shares of Class A Common Stock,
Public Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Class A Common Stock, (ii) enter
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of
ownership of any Units, shares of Class A Common Stock, Public Warrants or any securities convertible into, or exercisable, or
exchangeable for, shares of Class A Common Stock owned by it, him or her, whether any such transaction is to be settled by
delivery of such securities, in cash or otherwise, or (iii) or publicly announce an intention to effect any such transaction
specified in clause (i) or clause (ii); provided, however, that the foregoing does not apply to the forfeiture
of any Founder Shares pursuant to their terms or any transfer of Founder Shares to any current or future independent director
of the company (as long as such current or future independent director transferee is subject to this Letter Agreement or
executes an agreement substantially identical to the terms of this Letter Agreement, as applicable to directors and officers
at the time of such transfer; and as long as, to the extent any reporting obligation pursuant to Section 16 of the Exchange
Act is triggered as a result of such transfer, any related filing includes a practical explanation as to the nature of the
transfer). Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or
waiver, of the restrictions set forth in this paragraph 3 or paragraph 7 below, the Company shall announce the impending
release or waiver by press release through a major news service at least two business days before the effective date of the
release or waiver. Any such release or waiver granted shall only be effective two business days after the publication date of
such press release. The provisions of this paragraph will not apply if (i) the release or waiver is effected solely to permit
a transfer of securities that is not for consideration and (ii) the transferee has agreed in writing to be bound by the same
terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of
the transfer.

 

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4. In the event of the liquidation of the Trust Account, the
Sponsor (which for purposes of clarification shall not extend to any other holder of common stock or any members or managers of
the Sponsor or to any other Insider) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim,
damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating,
preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may
become subject as a result of any claim by (i) any third party (other than the Company’s independent registered public accounting
firm) for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has discussed
entering into an agreement for a Business Combination (a “Target”); provided, however,
that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by
a third party for services rendered (other than the Company’s independent registered public accounting firm) or products
sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.00 per Offering Share or
(ii) such lesser amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account due
to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case, net of Permitted
Withdrawals, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account
and except as to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities
under the Securities Act of 1933, as amended. In the event that any such executed waiver is deemed to be unenforceable against
such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor
shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within
15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall
undertake such defense. For the avoidance of doubt, none of the Company’s officers or directors will indemnify the Company
for claims by third parties, including, without limitation, claims by vendors or any Target.

 

5. To the extent that the Underwriters do not exercise their
over-allotment option up to an additional 3,000,000 Units within 45 days from the date of the Prospectus (and as further described
in the Prospectus), the Sponsor agrees that it shall forfeit, at no cost, an aggregate number of Founder Shares in the aggregate
equal to the product of (a) 3,000,000 multiplied by a fraction, (i) the numerator of which is 750,000 minus the number of Units
purchased by the Underwriters upon the exercise of their option to purchase additional Units, and (ii) the denominator of which
is 750,000. All references in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect as a contribution
of such Founder Shares to the Company’s capital as a matter of Delaware law. The forfeiture will be adjusted to the extent
that the over-allotment option is not exercised in full by the Underwriters so that the number of Founder Shares will equal an
aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the Public Offering. The Initial
Stockholders further agree that to the extent that the size of the Public Offering is increased or decreased, the Company will
effect a capitalization or share repurchase or redemption or stock split, reverse stock split or other appropriate mechanism, as
applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares
at 20.0% of the Company’s issued and outstanding shares of Capital Stock upon the consummation of the Public Offering. In
connection with such increase or decrease in the size of the Public Offering, then (A) the references to 750,000 in the numerator
and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15.0% of the number
of shares of Class A Common Stock included in the Units issued in the Public Offering and (B) the reference to 750,000 in the formula
set forth in the immediately preceding sentence shall be adjusted to such number of Founder Shares that the Sponsor would have
to return to the Company in order for the number of Founder Shares to equal an aggregate of 20.0% of the Company’s issued
and outstanding shares of Capital Stock after the Public Offering.

 

6. The Sponsor and each Insider hereby agrees and acknowledges
that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such Sponsor or Insider of
its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 7(a), 7(b), and 9, as applicable, of this Letter Agreement, (ii) monetary
damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to seek injunctive relief,
in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

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7. (a) Subject to the exceptions set forth herein, the Sponsor
and each Insider agrees that it, he or she shall not Transfer (as defined below) any Founder Shares (or shares of Class A Common
Stock issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business
Combination and (B) subsequent to the Business Combination, (x) if the last reported sale price of the Class A Common Stock equals
or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for
any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination
or (y) the date on which the Company completes a liquidation, merger, stock exchange, reorganization or other similar transaction
that results in all of the Public Stockholders having the right to exchange their shares of Class A Common Stock for cash, securities
or other property (the “Founder Shares Lock-up Period”).

 

(b) Subject to the exceptions set forth herein, the Sponsor
and each Insider agrees that it, he or she shall not Transfer any Private Placement Warrants or Working Capital Warrants (or shares
of Class A Common Stock issued or issuable upon the conversion or exercise of the Private Placement Warrants), until 30 days after
the completion of a Business Combination (the “Private Placement Warrants Lock-up Period,” together with
the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding the provisions set forth in paragraphs 3
and 7(a) and (b), Transfers of the Founder Shares, Private Placement Warrants and shares of Class A Common Stock issued or issuable
upon the exercise or conversion of the Private Placement Warrants or the Founder Shares and that are held by the Sponsor or any
Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s
officers or directors, any affiliates or family members of any of the Company’s officers or directors, any members of the
Sponsor, or any affiliates of the Sponsor, (b) in the case of an individual, by gift to a member of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person,
or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of
the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers
made in connection with the consummation of the Company’s Business Combination at prices no greater than the price at which
the securities were originally purchased; (f) by an Insider to an entity that is an Affiliate of such Insider; (g) in the event
of the Company’s liquidation prior to the Company’s completion of an initial Business Combination; (h) by virtue of
the laws of Delaware or the Sponsor’s limited liability company agreement, as amended, upon dissolution of the Sponsor; (i)
to a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (a) through
(h) above; or (j) in the event of the Company’s completion of a liquidation, merger, stock exchange, reorganization or other
similar transaction which results in all of the Public Stockholders having the right to exchange their shares of Class A Common
Stock for cash, securities or other property subsequent to the Company’s completion of an initial Business Combination; provided,
however, that in the case of clauses (a) through (f) and (i), these permitted transferees must enter into a written agreement
with the Company agreeing to be bound by the transfer restrictions and other applicable restrictions in this Letter Agreement.
 “Affiliate” means, with respect to any holder any other person who, directly or indirectly (including
through one or more intermediaries), controls, is controlled by, or is under common control with, such person. For purposes of
this definition, “control,” when used with respect to any specified person, shall meant the power, direct or indirect,
to direct or cause the direction of the management and policies of such person, whether through ownership of voting securities
or partnership or other ownership interests, by contract or otherwise; and the terms “controlling” and “controlled”
shall have correlative meanings.

 

8. The Sponsor and each Insider represents and warrants that
it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or
had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information
furnished to the Company, if any (including any such information included in the Prospectus), is true and accurate in all respects
and does not omit any material information with respect to such Insider’s background. The Sponsor and each Insider’s
questionnaire furnished to the Company, if any, is true and accurate in all respects. The Sponsor and each Insider represents and
warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order
or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is
not currently a defendant in any such criminal proceeding.

 

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9. Except as disclosed in, or as expressly contemplated by,
the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer
of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any
repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation
of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than the following,
none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination:
(i) repayment of a loan and advances of up to $750,000 made to the Company by the Sponsors to cover expenses related to the organization
of the Company and the Public Offering; (ii) reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating
and consummating an initial Business Combination; and (iii) repayment of loans, if any, and on such terms as to be determined by
the Company from time to time, made by the Sponsor or certain of the Company’s officers and directors to finance transaction
costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate an
initial Business Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay
such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may
be convertible into warrants (the “Working Capital Warrants”) of the post Business Combination entity
at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the Private Placement Warrants,
including as to exercise price, exercisability and exercise period.

 

10. The Sponsor and each Insider has full right and power, without
violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement
with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or a
director on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer and/or a director
of the Company.

 

11. As used herein, (i)
 “Business Combination” shall mean a merger, consolidation, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii)
 “Capital Stock” shall mean, collectively, the Class A Common Stock and the Founder Shares; (iii)
 “Founder Shares” shall mean the 5,750,000 shares of Class B Common Stock, par value $0.0001 per share,
issued and outstanding immediately prior to the consummation of the Public Offering; (iv) “Initial
Stockholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement
Warrants” shall mean the warrants to purchase up to an aggregate of 6,500,000 shares of Class A Common Stock of the
Company (or 7,100,000 shares of Class A Common Stock if the over-allotment option is exercised in full) that the Sponsor has agreed
to purchase for an aggregate purchase price of $6,500,000 (or $7,100,000 if the over-allotment option is exercised in full), or
$11.50 per Private Placement Warrant, in a private placement transaction that shall occur simultaneously with the consummation of
the Public Offering; (vi) “Public Stockholders” shall mean the holders of securities issued in the Public
Offering; (vii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Public Offering and the sale of the Private Placement Warrants shall be deposited; and (viii) “Transfer”
shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to
purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put
equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of the Exchange Act
with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of
the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such
securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or
(b) herein.

 

12. This Letter Agreement constitutes the entire agreement and
understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements,
or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than
to correct a typographical error) as to any particular provision, except by a written instrument executed by (1) each Insider that
is the subject of any such change, amendment modification or waiver and (2) the Sponsor.

 

13. Except as otherwise provided
herein, no party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder
without the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void
and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter
Agreement shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted
transferees.

 

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14. Nothing in this Letter Agreement shall be construed to confer
upon, or give to, any person or entity other than the parties hereto any right, remedy or claim under or by reason of this Letter
Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions, stipulations, promises
and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors,
heirs, personal representatives and assigns and permitted transferees.

 

15. This Letter Agreement may be executed in any number of original
or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts
shall together constitute but one and the same instrument.

 

16. This Letter Agreement shall be deemed severable, and the
invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Letter Agreement
or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties
hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid or unenforceable
provision as may be possible and be valid and enforceable.

 

17. This Letter Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all agree that any action, proceeding,
claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of
New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and venue shall
be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient
forum.

 

18. Any notice, consent or request to be given in connection
with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by express mail or similar private
courier service, by certified mail (return receipt requested), by hand delivery or facsimile or other electronic transmission.

 

19. Each party hereto shall not be liable for any breaches or
misrepresentations contained in this Letter Agreement by any other party to this Letter Agreement (including, for the avoidance
of doubt, any Insider with respect to any other Insider), and no party shall be liable or responsible for the obligations of another
party, including, without limitation, indemnification obligations and notice obligations.

 

20. This Letter Agreement shall terminate on the earlier of
(i) the expiration of the Lock-up Periods and (ii) the liquidation of the Company; provided, however, that this Letter
Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by [●], 2021; provided
further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature page
follows]

 

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	 	Sincerely,
	 	 
	 	HAWKS SPONSOR LLC
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 
	 	 
	 	 
	 	[D&O Name]
	 	 
	 	 
	 	[D&O Name]
	 	 
	 	 
	 	[D&O Name]
	 	 
	 	 
	 	[D&O Name]

 

	 	[OTHER ADVISOR]
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 	Acknowledged and Agreed:	 
	 	 
	HAWKS ACQUISITION CORP	 
	 	 	 
	By:	 	 
	 	Name: 	 
	 	Title: 	 

 

[Signature Page to Letter Agreement]Exhibit 10.3

 

FORM OF INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management Trust Agreement
(this “Agreement”) is made effective as of [_], 2021 by and between Hawks Acquisition Corp, a Delaware corporation
(the “Company”), and Continental Stock Transfer & Trust Company, a New York limited purpose trust company
(the “Trustee”).

 

WHEREAS, the
Company’s registration statement on Form S-1, File No. 333-[_] (the “Registration Statement”) and
prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the
 “Units”), each of which consists of one share of the Company’s Class A common stock, par value $0.0001 per
share (the “Common Stock”), and one-half of one redeemable warrant, each whole warrant entitling the holder
thereof to purchase one share of Common Stock (such initial public offering hereinafter referred to as the
 “Offering”), has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission;
and

 

WHEREAS, the Company has entered into an Underwriting
Agreement (the “Underwriting Agreement”) with [Representative] (the “Representative”) of
the several underwriters named therein (the “Underwriters”); and

 

WHEREAS, as described in the Registration
Statement, an aggregate of $200,000,000 from the gross proceeds of the Offering and sale of the Private Placement Warrants (as defined
in the Underwriting Agreement) (or $230,000,000 if the Underwriters’ over-allotment option is exercised in full) will be delivered
to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust
Account”) for the benefit of the Company and the holders of the Common Stock included in the Units issued in the Offering
as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to
herein as the “Property,” the stockholders for whose benefit the Trustee shall hold the Property will
be referred to as the “Public Stockholders,” and the Public Stockholders and the Company will be referred to
together as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting Agreement,
a portion of the Property equal to $[_], or $[_] if the Underwriters’ over-allotment option is exercised in full, is attributable
to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriters upon and concurrently
with the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company and the Trustee desire
to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

     

     

    

 

NOW THEREFORE, IT IS AGREED:

 

1.                 
 Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)              Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established
by the Trustee in the United States at JPMorgan Chase Bank, N.A. (or at another U.S. – chartered commercial bank with consolidated
assets of $100 billion or more) and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

(b)              Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)              In a timely manner, upon the written instruction of the Company, invest and reinvest the Property in solely United States
government securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity
of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7
promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company; the Trustee may not invest in any other securities or assets, it being understood
that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder
and the Trustee may earn bank credits or other consideration;

 

(d)              Collect and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)              Promptly notify the Company and the Representative of all communications received by the Trustee with respect to any Property
requiring action by the Company;

 

(f)              Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection
with the Company’s preparation of the tax returns relating to assets held in the Trust Account or in connection with the
preparation or completion of the audit of the Company’s financial statements by the Company’s auditors;

 

(g)              Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as
and when instructed by the Company to do so;

 

(h)              Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all
receipts and disbursements of the Trust Account;

 

    2 

     

    

 

(i)                Commence
liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of
a letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto
as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive
Officer, President, Chief Financial Officer, Secretary or Chairman of the board of directors of the Company (the
 “Board”) or other authorized officer of the Company and, in the case of Exhibit A,
acknowledged and agreed to by the Representative and complete the liquidation of the Trust Account and distribute the
Property in the Trust Account, including interest earned on the funds held in the Trust Account (net of amounts withdrawn in
accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution
expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date
which is the later of (i) 18 months (or up to 24 months, as provided by Section 9(c) of the Company’s amended and restated Certificate of Incorporation) and (ii) such later date as may be approved by the
Company’s stockholders in accordance with the Company’s amended and restated Certificate of Incorporation, if a
Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be
liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the
Property in the Trust Account, including interest earned on the funds held in the Trust Account (net of amounts withdrawn in
accordance with this Agreement and less up to $100,000 of interest that may be released to the Company to pay dissolution
expenses) shall be distributed to the Public Stockholders of record as of such date;

 

(j)                
Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached
hereto as Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and
distribute to the Company the amount of interest earned on the Property requested by the Company to cover any tax obligation owed
by the Company as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered
directly to the Company, the Company shall forward such amount to the relevant taxing authority; provided, however,
that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such
assets held in the Trust Account as shall be designated by the Company in writing to make such distribution, so long as there is
no reduction in the principal amount per share initially deposited in the Trust account; provided, further, that
if the tax to be paid is a franchise tax, the written request by the Company to make such distribution shall be accompanied by
a copy of the franchise tax bill from the relevant taxing authority for the Company. The written request of the Company referenced
above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility
to look beyond said request;

 

(k)               [Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached
hereto as Exhibit D (a “Working Capital Withdrawal Instruction”), withdraw from the Trust Account
and distribute to the Company the amount of interest earned on the Property requested by the Company to fund working capital
compliance requirements (a “Working Capital Withdrawal”), which amount shall be delivered directly to the
Company; provided, however, that to the extent there is not sufficient cash in the Trust Account to fund such
Working Capital Withdrawal, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the
Company in writing to make such distribution, so long as there is no reduction in the principal amount initially deposited in
the Trust account. The written request of the Company referenced above shall constitute presumptive evidence that the
Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request; provided,
further, that Working Capital Withdrawal shall not exceed $[●] per annum;] / [Reserved]

 

    3 

     

    

 

(l)                
Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached
hereto as Exhibit [E] (a “Stockholder Redemption Withdrawal Instruction”), the Trustee shall distribute
to the Public Stockholders on behalf of the Company the amount requested by the Company to be used to redeem shares of Common Stock
from Public Stockholders properly submitted in connection with a stockholder vote to approve an amendment to the Company’s
amended and restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to
redeem 100% of its public shares of Common Stock if the Company has not consummated an initial Business Combination within such
time as is described in the Company’s amended and restated Certificate of Incorporation or with respect to any other material
provisions relating to stockholders’ rights or pre-initial Business Combination activity. The written request of the Company
referenced above shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall
have no responsibility to look beyond said request; and

 

(m)              
Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j),
(k) or (l) above.

 

2.                 
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)              Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President,
Chief Executive Officer, Chief Financial Officer or Secretary. In addition, except with respect to its duties under Sections 1(i),
1(j), 1(k) and 1(l) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic
advice or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized
above to give written instructions, provided that the Company shall promptly confirm such instructions in writing;

 

(b)              Subject
to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable
and documented out-of-pocket expenses, including reasonable outside counsel fees and disbursements, or losses suffered by the
Trustee in connection with any action taken by it hereunder and in connection with any action, suit or other proceeding
brought against the Trustee involving any claim, or in connection with any claim or demand, which arises out of or relates to
this Agreement, the services of the Trustee hereunder, or the Property or any interest earned on the Property, except for
expenses and losses resulting from the Trustee’s, or its representatives’, gross negligence, fraud or willful
misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or
proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The
Trustee shall have the right to conduct and manage the defense against such Indemnified Claim; provided that the
Trustee shall obtain the consent of the Company with respect to the selection of counsel; provided, further
that the Company may conduct and manage the defense against any Indemnified Claim if the Trustee does not promptly take
reasonable steps to mount such a defense. The Trustee may not agree to settle any Indemnified Claim without the prior written
consent of the Company. The Company may participate in any such action with its own counsel;

 

    4 

     

    

 

(c)              Pay the Trustee the fees set forth on Schedule A hereto, including an initial set-up fee, annual administration
fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees unless and until the property is distributed to the Company pursuant
to Sections 1(i) hereof. The Company shall pay the Trustee the initial set-up fee and the first annual administration
fee at the consummation of the Offering. The Trustee shall refund to the Company the annual administration fee (on a pro rata
basis) with respect to any period after the liquidation of the Trust Account. The Company shall not be responsible for any other
fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and as may be provided
in Section 2(b) hereof;

 

(d)              In connection with any vote of the Company’s stockholders regarding a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination involving the Company and one or more businesses (the “Business
Combination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting
verifying the vote of such stockholders regarding such Business Combination;

 

(e)              Provide the Representative with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the
Trustee with respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

(f)              Unless otherwise agreed between the Company and the Representative, ensure that any Instruction Letter delivered in connection
with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount is paid directly to
the accounts as directed by the Representative prior to any transfer of the funds held in the Trust Account to the Company or any
other person;

 

(g)              Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing
the Trustee to make any distributions that are not permitted under this Agreement; and

 

(h)              Within four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised portion
thereof) or such over-allotment expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount,
which shall in no event be less than $[●], or $[●] if the Underwriters’ overallotment option is exercised in
full.

 

    5 

     

    

 

3.                 
 Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a)              Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other
than this Agreement and that which is expressly set forth herein;

 

(b)              Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall
have no liability to any third party except for liability arising out of the Trustee’s, or its representatives’, gross
negligence, fraud, or willful misconduct;

 

(c)              Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend
any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from the Company
given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any reasonably
incurred expenses incident thereto;

 

(d)              Refund any depreciation in principal of any Property;

 

(e)              Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority
to the Trustee;

 

(f)              The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken
or omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s, or its representatives’,
gross negligence, fraud, or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order,
notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s
counsel), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness
of its provisions, but also as to the truth and acceptability of any information therein contained) which the Trustee believes,
in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person or persons. The Trustee
shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement or any of
the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the proper party or parties and,
if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(g)              Verify the accuracy of the information contained in the Registration Statement;

 

(h)              Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company
is as contemplated by the Registration Statement;

 

    6 

     

    

 

(i)               File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide
periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income
earned on the Property;

 

(j)              Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated
by, and activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company,
including, but not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

 

(k)              Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i),
1(j), 1(k) and 1(l) hereof.

 

4.                 
Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely
against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

5.                 
Termination and Replacement of Trustee. This Agreement shall terminate as follows:

 

(a)              If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use
its reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement.
At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject
to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating to the Trust Account and any other reasonable
transfer requests that the Company may make, whereupon this Agreement shall terminate; provided, however, that in
the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation notice from
the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York
or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be
immune from any liability whatsoever; or

 

(b)              At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with
the provisions of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination
Letter, this Agreement shall terminate except with respect to Section 2(b).

 

(c)              If
the Offering is not consummated within ten (10) business days of the date of this Agreement, in which case any funds received
by the Trustee from the Company or Sponsor, as applicable, shall be returned promptly following the receipt by the Trustee of
written instructions from the Company.

 

    7 

     

    

 

6.                 
Miscellaneous.

 

(a)              The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect
to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information
relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason
to believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel.
In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including, account names,
account numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank.
Except for any liability arising out of the Trustee’s, or its representatives’, gross negligence, fraud, or willful
misconduct, the Trustee shall not be liable for any loss, liability or out-of-pocket expense resulting from any error in the information
or transmission of the funds.

 

(b)              This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
This Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and
together shall constitute but one instrument.

 

(c)              This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter
hereof. This Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical
error) by a writing signed by each of the parties hereto.

 

(d)              Sections 1(i)
and 1(j) hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the Consent
of the Stockholders, it being the specific intention of the parties hereto that each of the Company’s stockholders is,
and shall be, a third party beneficiary of this Section 6(d) with the same right and power to enforce this Section 6(d) as
the other parties hereto. For purposes of this Section 6(d), the “Consent of the Stockholders”
means receipt by the Trustee of a certificate from the inspector of elections of the stockholder meeting certifying that
either (i) the Company’s stockholders of record as of a record date established in accordance with
Section 213(a) of the Delaware General Corporation Law, as amended (“DGCL”) (or any successor rule),
who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock and Class B common stock, par
value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment or
modification, or (ii) the Company’s stockholders of record as of the record date who hold sixty-five percent (65%)
or more of all then outstanding shares of the Common Stock and Class B common stock, par value $0.0001 per share, of the
Company voting together as a single class, have delivered to such entity a signed writing approving such change, amendment or
modification. No such amendment will affect any Public Stockholder who has otherwise indicated his election to redeem his
share of Common Stock in connection with a stockholder vote sought to amend the Certificate of Incorporation. Except for any
liability arising out of the Trustee’s, or its representatives’, gross negligence, fraud, or willful misconduct,
the Trustee may rely conclusively on the certification from the inspector or elections referenced above and shall be relieved
of all liability to any party for executing the proposed amendment in reliance thereon.

 

    8 

     

    

 

(e)              The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York,
County of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM
OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

(f)              Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or by facsimile or email transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer &
Trust Company

1 State Street

30th Floor

New York, New York 10004

 

Attn: Francis Wolf and [_]

Email: fwolf@continentalstock.com

[_]

 

if to the Company, to:

Hawks Acquisition Corp

600 Lexington Avenue, 9th Floor

New York, NY 10022

 

Attn: J. Carney Hawks

Email: [carneyhawks@outlook.com]

 

in each case, with copies to:

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, NY 10019

Attn: Brian M. Janson, Esq.

Email: bjanson@paulweiss.com

Fax No.: (212) 492-0588

 

    9 

     

    

 

and

[Representative]

[Address]

Attn: [Name]

 

in each case, with copies to:

 

Latham & Watkins LLP

811 Main Street, Suite 3700

Houston, TX 77002

Attn.: Ryan J. Maierson, Esq.

Email: ryan.maierson@lw.com

 

(g)              This Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(h)              Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized
to enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and
agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled
to any funds in the Trust Account under any circumstance.

 

(i)               Each of the Company and the Trustee hereby acknowledges and agrees that the Representative, on behalf of the Underwriters,
is a third party beneficiary of this Agreement.

 

(j)               The Trustee shall perform its duties under this Agreement in compliance with all applicable laws[, including those relating
to privacy, data protection and information security,] shall keep confidential all information [(including personally identifiable
information and personal data)] relating to this Agreement and, except as required by applicable law, shall not use such information
for any purpose other than the performance of the Trustee’s obligations under this Agreement.

 

(k)              Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any
other person or entity.

 

(l)              Notwithstanding
anything to the contrary in this Agreement, for purposes of all services provided pursuant to this Agreement (the
 “Services”), Trustee shall continuously maintain business continuity and disaster recovery plans (including
regular updates) that are consistent with then current industry standards applicable to similarly situated providers of
services comparable to the Services. Without limiting the generality of the foregoing, the business continuity and/or
disaster recovery plans will cover the computer software, computer hardware, telecommunications capabilities and other
similar or related items of automated, computerized, software system(s) and network(s) or system(s) and will be designed,
among other things, to permit the ongoing operation and functionality of the Services on a continuous basis and/or to
facilitate the continuation and/or resumption of, the Services. In the event of the disruption in the Services for any reason
including the occurrence of a force majeure event that causes Trustee to be required to allocate limited resources between or
among Trustee’s affected customers, Trustee shall not do so in a manner that is intended to treat the Company less
favorably than other similarly situated affected customers generally. In addition, in the event Trustee has knowledge that
there is, or has been, an incident affecting the integrity or availability of Trustee’s business continuity and
disaster recovery system, Trustee shall endeavor to notify the Company in writing, as promptly as practicable, of the
incident.

 

(m)              This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original
but all of which together shall constitute one and the same Agreement. Only one counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this Agreement.

 

[Signature Page Follows]

 

    10 

     

    

 

IN WITNESS WHEREOF, the parties have
duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Continental Stock Transfer & Trust Company, as Trustee

 

	 	By:	 
	 	 	Name:	 Francis Wolf
	 	 	Title:	Vice President

 

	 	Hawks Acquisition Corp

 

	 	By:	 
	 	 	Name:	 J. Carney Hawks
	 	 	Title:	Chief Executive Officer

 

[Signature Page
to Investment Management Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	Time and method of payment	Amount
	Initial set-up fee.	Initial closing of Offering by wire transfer.	$       [_]
	Trustee administration fee	Payable annually. First year fee payable at initial closing of Offering by wire transfer; thereafter, payable by wire transfer or check.	$       [_]
	Transaction processing fee for disbursements to Company under Sections 1(i), 1(j), 1(k) and 1(l)	 Billed to Company following disbursement made to Company under Section 1	$       [_]
	Paying Agent services as required pursuant to Sections 1(i) and 1(l)	Billed to Company upon delivery of service pursuant to Sections 1(i) and 1(l)	Prevailing rates

 

    Sch. A-1 

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & [_]

 

		Re:	Trust Account No. [_] - Termination Letter

 

Dear Mr. Wolf and [_]:

 

Pursuant to Section 1(i) of the
Investment Management Trust Agreement between Hawks Acquisition Corp (the “Company”) and Continental Stock Transfer
 & Trust Company (the “Trustee”), dated as of [_], 20[_] (the “Trust Agreement”), this
is to advise you that the Company has entered into an agreement with [Target] (the “Target Business”) to consummate
a business combination with Target Business (the “Business Combination”) on or about [Date]. The Company shall
notify you at least seventy-two (72) hours in advance of the actual date of the consummation of the Business Combination (the “Consummation
Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account, and to transfer the proceeds
into the trust operating account at JPMorgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of the funds held
in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the
Consummation Date (including as directed to it by the Representative) (with respect to the Deferred Discount). It is acknowledged
and agreed that while the funds are on deposit in the trust operating account at JPMorgan Chase Bank, N.A., awaiting distribution,
the Company will not earn any interest or dividends.

 

On the Consummation Date
(i) counsel for the Company shall deliver to you written notification that the Business Combination has been
consummated, or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the
Company (the “Notification”) and (ii) the Company shall deliver to you (a) [an affidavit] [a
certificate] of the Chief Executive Officer of the Company, which verifies that the Business Combination has been approved by
a vote of the Company’s stockholders, if a vote is held and (b) a joint written instruction signed by the Company
and the Representative with respect to the transfer of the funds held in the Trust Account, including payment of amounts owed
to public stockholders who have properly exercised their redemptions rights and payment of amounts of the Deferred Discount
to the underwriter from the Trust Account directly to the account or accounts directed by the Representative (the
 “Instruction Letter”). You are hereby directed and authorized to transfer the funds held in the Trust
Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of the
Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such
funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution
of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust
Account, your obligations under the Trust Agreement shall be terminated.

 

     Ex. A-1 

     

    

 

In the event that the Business Combination
is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original
Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds
held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such written instructions as soon thereafter as possible.

 

	 	Very truly yours,

 

	 	Hawks Acquisition Corp

 

	 	By:	 
	 	 	Name: J. Carney Hawks
	 	 	Title: Chief Executive Officer

 

	Acknowledged:	 

 

	[Representative]	 

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

     Ex. A-2 

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & [_]

 

		Re:	Trust Account No. [_] - Termination Letter

 

Dear Mr. Wolf and [_]:

 

Pursuant to Section 1(i) of the
Investment Management Trust Agreement between Hawks Acquisition Corp (the “Company”) and Continental Stock Transfer
 & Trust Company (the “Trustee”), dated as of [_], 20[_] (the “Trust Agreement”), this
is to advise you that the Company has been unable to effect a Business Combination with a Target Business within the time frame
specified in the Company’s amended and restated Certificate of Incorporation, as described in the Company’s Prospectus
relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into
a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The Company has
selected [insert completion deadline] as the effective date for the purpose of determining when the Public Stockholders will be
entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity
as Paying Agent, agree to distribute said funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement
and the amended and restated Certificate of Incorporation of the Company. Upon the distribution of all the funds, net of any payments
necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement
shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

 

	 	Very truly yours,

 

	 	Hawks Acquisition Corp

 

	 	By:	 
	 	 	Name: J. Carney Hawks
	 	 	Title: Chief Executive Officer

 

		cc:	[Representative]

 

     Ex. B-1 

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & [_]

 

		Re:	Trust Account No. [_] - Tax Payment Withdrawal Instruction

 

Dear Mr. Wolf and [_]:

 

Pursuant to Section 1(j) of the
Investment Management Trust Agreement between Hawks Acquisition Corp (the “Company”) and Continental Stock Transfer
 & Trust Company the “Trustee”), dated as of [_], 20[_] (the “Trust Agreement”), the Company
hereby requests that you deliver to the Company $___________ of the interest income earned on the Property as of the date hereof.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds to pay for the
tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,

 

	 	Hawks Acquisition Corp

 

	 	By:	 
	 	 	Name: J. Carney Hawks
	 	 	Title: Chief Executive Officer

 

		cc:	[Representative] 

 

    Ex. C-1

     

    

 

[EXHIBIT D

 

[Letterhead of Company] 

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & [_]

 

		Re:	Trust Account No.[_] - Working Capital Withdrawal Instruction

 

Dear Mr. Wolf and [_]:

 

Pursuant to Section 1(k) of
the Investment Management Trust Agreement between Hawks Acquisition Corp (the “Company”) and Continental Stock
Transfer & Trust Company (the “Trustee”), dated as of [_], 20[_] (the “Trust Agreement”),
the Company hereby requests that you deliver to the Company $___________ of the interest income earned on the Property as of the
date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds to fund its working
capital requirements. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via
wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,

 

	 	Hawks Acquisition Corp

 

	 	By:	 
	 	 	Name: J. Carney Hawks
	 	 	Title: Chief Executive Officer

 

		cc:	[Representative]

 

     Ex. D-1 

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & [_]

 

		Re:	Trust Account No. [_] - Stockholder Redemption Withdrawal Instruction

 

Dear Mr. Wolf and [_]:

 

Pursuant to Section 1(l) of the
Investment Management Trust Agreement between Hawks Acquisition Corp (the “Company”) and Continental Stock Transfer
 & Trust Company (the “Trustee”), dated as of [_], 20[_] (the “Trust Agreement”), the
Company hereby requests that you deliver to the redeeming Public Stockholders of the Company $__________ of the principal and interest
income earned on the Property as of the date hereof into a segregated account held by you on behalf of the Beneficiaries for distribution
to the Stockholders who have requested redemption of their shares. Capitalized terms used but not defined herein shall have the
meanings set forth in the Trust Agreement.

 

The Company needs such funds to pay its Public
Stockholders who have properly elected to have their shares of Common Stock redeemed by the Company in connection with a stockholder
vote to approve an amendment to the Company’s amended and restated Certificate of Incorporation. As such, you are hereby
directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.

 

	 	Very truly yours,
	 	 
	 	Hawks Acquisition Corp

 

		By:	 
	 	 	Name: J. Carney Hawks
	 	 	Title: Chief Executive Officer

 

		cc:	[Representative]

 

     Ex. E-1

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