Document:

exv10w2

Exhibit 10.2

FINTECH ACQUISITION CORP.

SPONSOR SECURITIES PURCHASE AGREEMENT

          THIS SPONSOR SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of March ___, 2008, is
entered into by and between FINTECH ACQUISITION CORP., a Delaware corporation (the “Company”) and
TBBK ACQUISITIONS I, LLC, a Delaware limited liability company (the “Purchaser”).

     WHEREAS, the Company intends to file a registration statement (the “Registration Statement”)
for the initial public offering of units (the “Initial Public Offering”), each unit consisting of
one share of the Company’s common stock, par value $0.0001 per share (a “Share”), and one warrant
to purchase one Share at an exercise price of $7.50 per Share.

     WHEREAS, concurrent with the execution and delivery of this Agreement, the Purchaser desires
to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in
this Agreement, at an aggregate purchase price of $13,125 (the “Sponsor Units Purchase Price”),
1,509,375 units (the “Sponsor Units”), each unit consisting of one share of the Company’s common
stock, par value $0.001 per share (the “Sponsor Shares”) and one warrant to purchase one Share at
an exercise price of $7.50 per share (the “Sponsor Warrants”).

     WHEREAS, concurrently with the closing of the Initial Public Offering, the Purchaser desires
to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in
this Agreement, for an aggregate purchase price of $3,300,000 (the “Private Placement Warrants
Purchase Price”), 3,300,000 warrants to purchase Shares (the “Private Placement Warrants”).

     NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Agreement hereby agree as follows:

SECTION 1.

Authorization, Purchase and Sale; Terms of the Sponsor Units, Sponsor Shares,

Sponsor Warrants and Private Placement Warrants

          A. Authorization of the Sponsor Units, Sponsor Shares, Sponsor Warrants, Private
Placement Warrants and Shares Underlying each of the Sponsor Warrants and Private Placement
Warrants. The Company has duly authorized the issuance and sale to the Purchaser of each of the
Sponsor Units, Sponsor Shares, Sponsor Warrants, Private Placement Warrants and Shares underlying
each of the Sponsor Warrants and Private Placement Warrants (collectively, the “Securities”).

 

 

          B. Purchase and Sale of the Sponsor Units and Private Placement Warrants. Concurrently
with the execution and delivery of this Agreement, in the case of the Sponsor Units, and
concurrently with the closing of the Initial Public Offering, in the case of the Private Placement
Warrants, or as each such date may be extended from time to time by mutual agreement of the parties
(in each case, the “Closing Date”), the Company shall issue and sell to the Purchaser and the
Purchaser shall purchase from the Company, the Sponsor Units, Sponsor Shares and Sponsor Warrants
for the Sponsor Units Purchase Price and the Private Placement Warrants for the Private Placement
Warrants Purchase Price, respectively. On the applicable Closing Date, or as soon thereafter as is
practicable, the Company shall deliver certificates evidencing the Sponsor Units, Sponsor Shares
and Sponsor Warrants, or the Private Placement Warrants, as the case may be, to be purchased by the
Purchaser hereunder, in each case registered in the Purchaser’s name, upon the payment by the
Purchaser of the Sponsor Units Purchase Price or the Private Placement Warrants Purchase Price, as
the case may be, by wire transfer of immediately available funds to the Company in accordance with
the Company’s wiring instructions or by such other method as may be reasonably acceptable to the
Company.

     C. Terms of the Sponsor Units, Sponsor Shares, Sponsor Warrants and Private Placement
Warrants.

          (i) Sponsor Units: Each Unit of the Sponsor Units shall consist of one Sponsor Share and one
Sponsor Warrant and shall have the terms set forth in the Unit Certificate attached as EXHIBIT A
hereto.

          (ii) Sponsor Shares: The Sponsor Shares shall have the terms set forth in the Certificate of
Incorporation of the Company and the Sponsor Share Certificate attached as EXHIBIT B hereto.
Without limiting the foregoing, the Purchaser hereby expressly agrees that if the Corporation
consummates the Initial Public Offering, then (i) in connection with the stockholder vote required
to approve a merger, capital stock exchange, asset acquisition or other similar business
combination with one or more businesses or assets (a “Business Combination”), the Purchaser agrees
to vote the Sponsor Shares in accordance with a majority of the shares of common stock voted by
holders of shares of common stock issued in the Initial Public Offering and (ii) the Purchaser
agrees to waive any right to participate in any liquidation distribution to the extent set forth in
Section 3.D of this Agreement.

          (iii) Sponsor Warrants: The Sponsor Warrants shall have the terms set forth in the Warrant
Agreement set forth as EXHIBIT C hereto.

          (iv) Private Placement Warrants: The Private Placement Warrants shall have the terms set forth
in the Warrant Agreement set forth as EXHIBIT C hereto, as such terms may be amended prior to the
applicable Closing Date with the consent of the Purchaser, which consent shall be evidenced by the
purchase of the Private Placement Warrants on the applicable Closing Date.

          (v) Transfer Restrictions: In addition to the restrictions on transfer set forth in Section 9
hereof, the Purchaser shall not sell or transfer the Sponsor Units, Sponsor Shares, Sponsor
Warrants and the Shares underlying the Sponsor Warrants for a period of

 

 

one year from the date the Company completes its initial business combination except to a
Permitted Transferee (as defined in the Warrant Agreement) who agrees in writing with the Company
to be subject to such transfer restrictions, vote the Sponsor Shares as provided in (ii) above;
waive any right to participate in any liquidation distribution as provided in (ii) above and agrees
to the forfeiture of the Sponsor Units, Sponsor Shares and Sponsor Warrants as provided in (vii)
below. During this period, the Purchaser and its Permitted Transferees shall retain all other
rights of holders of Shares, including, without limitation, the right to vote their Shares (except
as described above with respect to a Business Combination) and the right to receive cash dividends,
if declared. If dividends are declared and payable in Shares, such dividends will also be subject
to the restrictions contained in this Section 1.C.(v). In addition to the restrictions on transfer
set forth in Section 9 hereof, the Purchaser acknowledges that the Private Placement Warrants and
the Shares issuable upon exercise of the Private Placement Warrants are subject to the restrictions
on transfer set forth in the Warrant Agreement.

          (vi) Registration Rights: In connection with the closing of the Initial Public Offering, the
Company and the Purchaser shall enter into an agreement (the “Registration Rights Agreement”)
granting the Purchaser registration rights with respect to the Securities.

          (vii) Forfeiture of Sponsor Units, Sponsor Shares and Sponsor Warrants: The Purchaser hereby
agrees to forfeit a number of Securities necessary to ensure that the aggregate amount of Sponsor
Shares held by the Purchaser, insiders of the Company and The Bancorp, Inc., and any permitted
transferees, does not exceed 20% of the issued and outstanding common stock of the Company upon the
consummation of the Initial Public Offering.

SECTION 2

Representations and Warranties of the Company

     As a material inducement to the Purchaser to enter into this Agreement and purchase the
Sponsor Units and Private Placement Warrants, the Company hereby represents and warrants to the
Purchaser that:

     A. Organization and Corporate Power. The Company is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware and is qualified to
do business in every jurisdiction in which the failure to so qualify would reasonably be expected
to have a material adverse effect on the financial condition, operating results or assets of the
Company. The Company possesses all requisite corporate power and authority necessary to carry out
the transactions contemplated by this Agreement and the Warrant Agreement.

     B. Authorization; No Breach.

          (i) The execution and delivery of this Agreement, the Warrant Agreement, the Sponsor Warrants
and the Private Placement Warrants and performance of this Agreement and the Warrant Agreement have
been duly authorized by the Company as of the applicable Closing Date. This Agreement constitutes
the valid and binding obligation

 

 

of the Company, enforceable in accordance with its terms. The Warrant Agreement, and upon
issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this
Agreement, the Sponsor Warrants and the Private Placement Warrants, constitute valid and binding
obligations of the Company, enforceable in accordance with their respective terms as of the
applicable Closing Date.

          (ii) The execution and delivery by the Company of this Agreement, the Warrant Agreement and
the sale and issuance of each of the Securities and the fulfillment of and compliance with the
respective terms hereof and thereof by the Company, do not and will not as of the applicable
Closing Date (i) conflict with or result in a breach of the terms, conditions or provisions of,
(ii) constitute a default under, (iii) result in the creation of any lien, security interest,
charge or encumbrance upon the Company’s capital stock or assets, (iv) result in a violation of, or
(v) require any authorization, consent, approval, exemption or other action by or notice or
declaration to, or filing with, any court or administrative or governmental body or agency pursuant
to the Certificate of Incorporation of the Company or the bylaws of the Company, or any material
law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment
or decree to which the Company is subject, except for any filings required after the date hereof
under federal or state securities laws.

     C. Title to Securities. Upon issuance in accordance with, and payment pursuant to, the
terms hereof and the Warrant Agreement, as the case may be, each of the Securities will be duly and
validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment
pursuant to, the terms hereof and the Warrant Agreement, as the case may be, the Purchaser will
have or receive good title to the Securities, free and clear of all liens, claims and encumbrances
of any kind, other than (a) transfer restrictions hereunder and under the other agreements
contemplated hereby, (b) transfer restrictions under federal and state securities laws, and (c)
liens, claims or encumbrances imposed due to the actions of the Purchaser.

     D. Governmental Consents. No permit, consent, approval or authorization of, or
declaration to or filing with, any governmental authority is required in connection with the
execution, delivery and performance by the Company of this Agreement or the Warrant Agreement, or
the consummation by the Company of any other transactions contemplated hereby.

SECTION 3

Representations and Warranties of the Purchaser

     As a material inducement to the Company to enter into this Agreement and issue and sell the
Sponsor Units and Private Placement Warrants, the Purchaser hereby represents and warrants to the
Company that:

     A. Capacity and State Law Compliance. The Purchaser has engaged in the transactions
contemplated by this Agreement within a state in which the offer and sale of the Securities is
permitted under applicable securities laws. The Purchaser understands and acknowledges that the
purchase of Shares upon the exercise of the Private Placement

 

 

Warrants and the Sponsor Warrants will require the availability of an exemption from
registration under federal and/or state securities laws and that any sale of such Shares shall
require registration or the availability of an exemption from registration under federal and/or
state securities laws.

     B. Authorization; No Breach.

          (i) This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in
accordance with its terms.

          (ii) The execution and delivery by the Purchaser of this Agreement and the fulfillment of and
compliance with the respective terms hereof by the Purchaser do not and shall not as of the
applicable Closing Date conflict with or result in a breach of the terms, conditions or provisions
of the certificate of formation or limited liability company agreement of the Purchaser or any
other agreement, instrument, order, judgment or decree to which the Purchaser is subject.

     C. Investment Representations.

          (i) The Purchaser is acquiring the Securities for its own account, for investment only and not
with a view towards, or for resale in connection with, any public sale or distribution thereof.

          (ii) The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of
Regulation D.

          (iii) The Purchaser understands that the Securities are being offered and will be sold to it
in reliance on specific exemptions from the registration requirements of the United States federal
and state securities laws and that the Company is relying upon the truth and accuracy of, and the
Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein
in order to determine the availability of such exemptions and the eligibility of the Purchaser to
acquire such Securities.

          (iv) The Purchaser did not decide to enter into this Agreement as a result of any general
solicitation or general advertising within the meaning of Rule 502(c) under the Securities Act of
1933, as amended (the “Securities Act”).

          (v) The Purchaser has been furnished with all materials relating to the business, finances and
operations of the Company and materials relating to the offer and sale of the Securities which have
been requested by the Purchaser. The Purchaser has been afforded the opportunity to ask questions
of the executive officers and directors of the Company. The Purchaser understands that its
investment in the Securities involves a high degree of risk. The Purchaser has sought such
accounting, legal and tax advice as the Purchaser has considered necessary to make an informed
investment decision with respect to the Purchaser’s acquisition of the Securities.

 

 

          (vi) The Purchaser understands that no United States federal or state agency or any other
government or governmental agency has passed on or made any recommendation or endorsement of the
Securities or the fairness or suitability of the investment in the Securities by the Purchaser nor
have such authorities passed upon or endorsed the merits of the offering of the Securities.

          (vii) The Purchaser understands that: (a) the Securities have not been and are not being
registered under the Securities Act or any state securities laws, and may not be offered for sale,
sold, assigned or transferred unless (A) subsequently registered thereunder or (B) sold in reliance
on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights
Agreement, neither the Company nor any other person is under any obligation to register the
Securities under the Securities Act or any state securities laws or to comply with the terms and
conditions of any exemption thereunder. In this regard, the Purchaser understands that the
Securities and Exchange Commission has taken the position that promoters or affiliates of a blank
check company and their transferees, both before and after a Business Combination, are deemed to be
“underwriters” under the Securities Act when reselling the securities of a blank check company.
Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for
resale transactions of the Securities despite technical compliance with the requirements of such
Rule, and the Securities can be resold only through a registered offering or in reliance upon
another exemption from the registration requirements of the Securities Act. The Purchaser is able
to bear the economic risk of its investment in the Securities for an indefinite period of time.

          (viii) The Purchaser has such knowledge and expertise in financial and business matters, knows
of the high degree of risk associated with investments generally and particularly investments in
the securities of companies in the development stage such as the Company, is capable of evaluating
the merits and risks of an investment in the Securities and is able to bear the economic risk of an
investment in the Securities in the amount contemplated hereunder. The Purchaser has adequate means
of providing for its current financial needs and contingencies and will have no current or
anticipated future needs for liquidity which would be jeopardized by the investment in the
Securities. The Purchaser can afford a complete loss of its investment in the Securities.

     D. Waiver of Right to Amounts in the Trust Account and Indemnification.

          (i) The Purchaser hereby waives any and all right, title, interest or claim of any kind in or
to any distribution of the trust account established by the Company for the deposit of proceeds
from the Initial Public Offering and the sale of the Private Placement Warrants, as a result of any
liquidation of the trust account, with respect to the Sponsor Shares (“Claim”) and hereby waives
any Claim it may have in the future as a result of, or arising out of, any contracts or agreements
with the Company and will not seek recourse against the trust account for any reason whatsoever
except for any amounts to which it may be entitled upon liquidation of the Company in respect of
the Purchaser’s ownership of Shares other than the Sponsor Shares.

 

 

          (ii) The Purchaser acknowledges and agrees that the stockholders of the Company, including
those who purchase the units in the Initial Public Offering, are and shall be third-party
beneficiaries of the foregoing provisions of Section 3.D. of this Agreement.

          (iii) The Purchaser agrees that to the extent any waiver of rights under this Section 3.D. is
ineffective as a matter of law, the Purchaser has offered such waiver for the benefit of the
Company as an equitable right that shall survive any statutory disqualification or bar that applies
to a legal right. The Purchaser acknowledges the receipt and sufficiency of consideration received
from the Company hereunder in this regard.

SECTION 4

Conditions of the Purchaser’s Obligations

     The obligation of the Purchaser to purchase and pay for the Sponsor Units and Private
Placement Warrants is subject to the fulfillment, on or before the applicable Closing Date, of each
of the following conditions:

     A. Representations and Warranties. The representations and warranties of the Company
contained in Section 2, shall be true and correct at and as of the applicable Closing Date as
though then made.

     B. Performance. The Company shall have performed and complied with all agreements,
obligations and conditions contained in this Agreement that are required to be performed or
complied with by it on or before the applicable Closing Date.

     C. No Injunction. No litigation, statute, rule, regulation, executive order, decree,
ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court
or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby, which prohibits the consummation of any of the
transactions contemplated by this Agreement or the Warrant Agreement.

SECTION 5

Conditions of the Company’s Obligations

     The obligations of the Company to the Purchaser under this Agreement are subject to the
fulfillment, on or before the applicable Closing Date, of each of the following conditions:

     A. Representations and Warranties. The representations and warranties of the Purchaser
contained in Section 3 shall be true and correct at and as of the applicable Closing Date as though
then made.

 

 

     B. Performance. The Purchaser shall have performed and complied with all agreements,
obligations and conditions contained in this Agreement that are required to be performed or
complied with by it on or before the applicable Closing Date.

     C. Corporate Consents. The Company shall have obtained the consent of its Board of
Directors authorizing the execution, delivery and performance of this Agreement and the Warrant
Agreement and the issuance and sale of the Sponsor Units and the Private Placement Warrants.

     D. No Injunction. No litigation, statute, rule, regulation, executive order, decree,
ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court
or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby, which prohibits the consummation of any of the
transactions contemplated by this Agreement or the Warrant Agreement.

SECTION 6

Termination

     This Agreement may be terminated at any time prior to the applicable Closing Date as it
relates only to the Securities to be purchased pursuant to this Agreement on and after such Closing
Date upon the mutual written consent of the Company and the Purchaser.

SECTION 7

Survival of Representations and Warranties

     All of the representations and warranties contained herein shall survive the applicable
Closing Date.

SECTION 8

Definitions

     Terms used but not otherwise defined in this Agreement shall have the meaning assigned such
terms in the Registration Statement.

SECTION 9

Miscellaneous

     A. Legends.

          (i) The certificates evidencing the Sponsor Units and the Sponsor Shares will include the
legend set forth on EXHIBITS A AND B hereto, respectively, which the Purchaser has read and
understands. The Sponsor Warrants, the Private Placement Warrants and Shares issued upon exercise
of the Private Placement Warrants and the Sponsor Warrants (as defined in the Warrant Agreement)
will include the legend set forth

 

 

in Exhibit B to the Warrant Agreement in the case of the Warrants and in the Warrant Agreement
in the case of the Shares, which the Purchaser has read and understands.

          (ii) By accepting the Securities, the Purchaser agrees, prior to any transfer of the
Securities, to give written notice to the Company expressing its desire to effect such transfer and
describing briefly the proposed transfer. Upon receiving such notice, the Company shall present
copies thereof to its counsel and the Purchaser agrees not to make any disposition of all or any
portion of the Securities unless and until:

	 	(a)	 	there is then in effect a registration statement under the
Securities Act covering such proposed disposition and such disposition is made
in accordance with such registration statement, in which case the legends set
forth above with respect to the Securities sold pursuant to such registration
statement shall be removed; or
	 
	 	(b)	 	if reasonably requested by the Company, (A) the Purchaser
shall have furnished the Company with an opinion of counsel, reasonably
satisfactory to the Company, that such disposition will not require
registration of such Securities under the Securities Act, (B) the Company
shall have received customary representations and warranties regarding the
transferee that are reasonably satisfactory to the Company signed by the
proposed transferee and (C) the Company shall have received an agreement by
such transferee to the restrictions contained in the legends referred to in
(i) hereof.

Notwithstanding the foregoing, the Purchaser also understands and acknowledges that the transfer of
the Sponsor Units, Sponsor Shares, Sponsor Warrants and the Private Placement Warrants and exercise
of the Sponsor Warrants and the Private Placement Warrants are subject to the specific conditions
to such transfer or exercise as outlined herein and the Warrant Agreement as to which the Purchaser
specifically assents by its execution hereof.

          (iii) The Company may, from time to time, make stop transfer notations in its records and
deliver stop transfer instructions to its transfer agent to the extent its counsel considers it
necessary to ensure compliance with federal and state securities laws and the transfer restrictions
contained elsewhere in this Agreement and the Warrant Agreement.

     B. Successors and Assigns. Except as otherwise expressly provided herein, all
covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto
shall bind and inure to the benefit of the respective successors of the parties hereto whether so
expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may
not assign this Agreement.

     C. Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law,

 

 

such provision shall be ineffective only to the extent of such prohibition or invalidity,
without invalidating the remainder of this Agreement.

     D. Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, none of which need contain the signatures of more than one party, but all such
counterparts taken together shall constitute one and the same agreement.

     E. Descriptive Headings; Interpretation. The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a substantive part of this Agreement. The
use of the word “including” in this Agreement shall be by way of example rather than by limitation.

     F. Governing Law. This Agreement, the entire relationship of the parties hereto, and
any litigation between the parties (whether grounded in contract, tort, statute, law or equity)
shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the
State of Delaware, without giving effect to its choice of laws principles.

     G. Notices. All notices, demands or other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to
have been given when delivered personally to the recipient, sent to the recipient by reputable
overnight courier service (charges prepaid) or mailed to the recipient by certified or registered
mail, return receipt requested and postage prepaid. Such notices, demands and other communications
shall be sent:

	 	 	 
	If to the Company:

	 	FinTech Acquisition Corp.
	 

	 	405 Silverside Road
	 

	 	Wilmington, DE 19809
	 

	 	Fax No.: (302) 385-5117
	 
	 	 
	With a copy to:

	 	Ledgewood, P.C.
	 

	 	Attn: Mark Rosenstein, Esq.
	 

	 	1900 Market Street, Suite 750
	 

	 	Philadelphia, PA 19103
	 

	 	Fax No.: (215) 735-2513
	 
	 	 
	If to the Purchasers:

	 	c/o The Bancorp, Inc.
	 

	 	Attn: Marty Egan
	 

	 	405 Silverside Road
	 

	 	Wilmington, DE 19809
	 

	 	Fax No.: (302) 385-5117

or to such other address or to the attention of such other person as the recipient party has
specified by prior written notice to the sending party.

     H. No Strict Construction. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent

 

 

or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties
hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any of the provisions of this Agreement.

[SIGNATURE PAGE FOLLOWS]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Purchase Agreement on the date first
written above.

COMPANY:

FINTECH ACQUISITION CORP.

	 	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

Frank M. Mastrangelo
	 	 
	Title:

	 	President	 	 

PURCHASER:

TBBK ACQUISITIONS I, LLC

By: The Bancorp, Inc., its sole member

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

Frank M. Mastrangelo
	 	 
	 

	 	Title:
	 	President and Chief Operating Officerexv10w3

Exhibit 10.3

FORM OF

STOCK ESCROW AGREEMENT

     This STOCK ESCROW AGREEMENT, dated as of                                         , 2008 (the “Agreement”) is entered into
by and among FinTech Acquisition Corp., a Delaware corporation (“Company”), the undersigned parties
listed as Initial Stockholders on the signature page hereto (collectively, the “Initial
Stockholders”) and American Stock Transfer & Trust Company, a New York corporation (“Escrow
Agent”).

     WHEREAS, the Company has entered into an Underwriting Agreement, dated                                         , 2008 (the
“Underwriting Agreement”) with UBS Securities LLC acting as representative of the several
underwriters (collectively, the “Underwriters”), pursuant to which, among other matters, the
Underwriters have agreed to purchase 10,000,000 units (not including the Underwriters’
over-allotment option) (the “Units”) of the Company, with each Unit consisting of one share of the
Company’s common stock, par value $.0001 per share (the “Common Stock”), and one warrant
(“Warrant”), with each Warrant being exercisable to purchase one share of Common Stock, all as more
fully described in the Company’s final prospectus, dated                                         , 2008 (“Prospectus”)
comprising part of the Company’s Registration Statement on Form S-1 (File No. 333-149977) (as
amended, the “Registration Statement”) under the Securities Act of 1933, as amended, declared
effective on                                         , 2008 (the “Effective Date”);

     WHEREAS, solely for the purpose of covering over-allotments, the Company has granted to the
Underwriters the option to purchase from the Company up to an additional 1,500,000 Units (the
“Overallotment Option”);

     WHEREAS, the Initial Stockholders have agreed as a condition of the Underwriters’ obligation
to purchase the Units pursuant to the Underwriting Agreement and to offer them to the public to (i)
deposit all of their Units of the Company, as set forth opposite their respective names in Exhibit
A attached hereto (collectively, the “Escrow Units”), as well as certificates representing the
shares of common stock (the “Escrow Common Shares”) and warrants (the “Escrow Warrants”) underlying
the Escrow Units and (ii) deposit the 3,300,000 Warrants TBBK Acquisitions I, LLC has agreed to
purchase from the Company at a price of $1.00 per warrant in a private placement pursuant to a
warrant agreement between the Company and Escrow Agent as trustee thereunder (the “Warrant
Agreement”) immediately before the completion of the offering (collectively, the “Additional Escrow
Warrants”, and together with the Escrow Common Shares and the Escrow Warrants, the “Escrow
Securities”), in escrow as hereinafter provided; and

     WHEREAS, the Company and the Initial Stockholders desire that the Escrow Agent accept the
Escrow Securities, in escrow, to be held and disbursed as hereinafter provided.

     NOW, THEREFORE, in consideration of the foregoing, of the mutual agreements herein contained,
and for other good and valuable consideration, the receipt and sufficiency of

1

 

which is hereby acknowledged, the Company, each Initial Stockholder and the Escrow Agent
hereby agree as follows:

     1. Appointment of Escrow Agent. The Company and the Initial Stockholders hereby
appoint the Escrow Agent to act in accordance with and subject to the terms of this Agreement and
the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject
to such terms.

     2. Deposit of Escrow Securities. On or before the Effective Date, each of the Initial
Stockholders shall have delivered to the Escrow Agent certificates representing their respective
Escrow Securities as set forth opposite their respective names on Exhibit A hereto, which
certificates shall remain in the name of such Initial Stockholder or in the name of such Initial
Stockholder’s Permitted Transferee (as defined below), to be held and disbursed subject to the
terms and conditions of this Agreement. Each Initial Stockholder acknowledges that the certificate
representing such Initial Stockholder’s Escrow Securities bears a legend to reflect the deposit of
such Escrow Securities under this Agreement.

     3. Disbursement of the Escrow Securities. The Escrow Agent shall hold the Escrow
Units, Escrow Common Shares and Escrow Warrants until the date that is one year after the
consummation of a Business Combination (as such term is defined in the Amended and Restated
Certificate of Incorporation as in effect on the date hereof) and the Additional Escrow Warrants
until the completion of a Business Combination (each such period, an “Escrow Period”), on which
date it shall, upon written instructions from each Initial Stockholder, disburse each of the
Initial Stockholder’s Escrow Securities to such Initial Stockholder; provided, however, that at the
end of the 30-day period in which the Underwriters may exercise their over-allotment option to
purchase an additional 1,500,000 Units of the Company (as described in the Registration Statement),
the Company shall give the Escrow Agent notice with respect to the amount, if any, of the
over-allotment that was exercised by the Underwriters and, upon such notice, the Initial
Shareholders agree that the Escrow Agent shall return to the Company for cancellation, at no cost,
such number of Units as directed by the Company in writing, provided further, however, that if the
Escrow Agent is notified by the Company pursuant to Section 6.7 hereof that the Company is being
liquidated at any time during each Escrow Period, then the Escrow Agent shall promptly destroy the
certificates representing the Escrow Securities. The Escrow Agent shall have no further duties
hereunder after the disbursement or destruction of the Escrow Securities in accordance with this
Section 3.

     4. Rights of Initial Stockholders in Escrow Securities.

          4.1 Voting Rights as a Stockholder. Subject to the terms of the Insider Letter
described in Section 4.4 hereof and except as herein provided, the Initial Stockholders shall
retain all of their rights as stockholders of the Company during each Escrow Period, including,
without limitation, the right to vote the Escrow Common Shares.

          4.2 Dividends and Other Distributions in Respect of the Escrow Securities. During each
Escrow Period, all dividends payable in cash with respect to the Escrow Securities shall be paid to
the Initial Stockholders, but all dividends or other distributions made by the Company during the
Escrow Period payable in shares of Common Stock or other non-cash

2

 

property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance
with the terms hereof. As used herein, the term “Escrow Securities” shall be deemed to include the
Non-Cash Dividends distributed thereon, if any.

          4.3 Restrictions on Transfer. During each Escrow Period, no sale, transfer or other
disposition may be made of any or all of the Escrow Securities except to permitted transferees
which includes: (i) the Company’s officers or directors or any affiliates or family members of any
of its officers or directors; (ii) a member of an Initial Stockholder’s immediate family or a trust
(the beneficiary of which is a member of the Initial Stockholder’s immediate family, an affiliate
of the Initial Stockholder or a charitable organization) or a charitable organization, who in each
case receives such Escrow Securities as a gift; (iii) any person who receives such Escrow
Securities by virtue of the laws of descent and distribution upon death of the Initial Stockholder;
or (iv) any person who receives such Escrow Securities pursuant to a qualified domestic relations
order (each such transferee, a “Permitted Transferee”); provided, however, that such permissive
transfers may be implemented only upon the respective transferee’s written agreement to be bound by
the terms and conditions of this Agreement and of the Insider Letter and Warrant Agreement signed
by the Initial Stockholder transferring the Escrow Securities. During each Escrow Period, the
Initial Stockholders shall not pledge or grant a security interest in the Escrow Securities or
grant a security interest in their rights under this Agreement.

          4.4 Insider Letters. Each of the Initial Stockholders has executed a letter agreement
with UBS Securities LLC acting as representative of the Underwriters, and the Company, the form of
which is filed as an exhibit to the Registration Statement, regarding the rights and obligations of
such Initial Stockholder in certain events described therein, including, without limitation, upon
the liquidation of the Company (such letter agreement, the “Insider Letter”).

          4.5 Escrow Warrants. TBBK Acquisitions I, LLC acknowledges that the Escrow Warrants
are subject to the restrictions on exercise and transfer during the Escrow Period as specified in
the Warrant Agreement.

     5. Concerning the Escrow Agent.

          5.1 Good Faith Reliance. The Escrow Agent shall not be liable for any action taken or
omitted by it in good faith and in the exercise of its own best judgment, and 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 Escrow Agent), 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
is believed by the Escrow Agent to be genuine and to be signed or presented by the proper person or
persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification,
termination or rescission of this Agreement unless evidenced by a writing delivered to the Escrow
Agent signed by the proper party or parties and, if the duties or rights of the Escrow Agent are
affected, unless it shall have given its prior written consent thereto.

3

 

     5.2 Indemnification. The Escrow Agent shall be indemnified and held harmless by the
Company from and against any expenses, including counsel fees and disbursements, or loss suffered
by the Escrow Agent in connection with any action, suit or other proceeding involving any claim
which in any way, directly or indirectly, arises out of or relates to this Agreement, the services
of the Escrow Agent hereunder, or the Escrow Securities held by it hereunder, other than expenses
or losses arising from the gross negligence or willful misconduct of the Escrow Agent. Promptly
after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any
action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing. In
the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an
action in the nature of interpleader in an appropriate court to determine ownership or disposition
of the Escrow Securities or it may deposit the Escrow Securities with the clerk of any appropriate
court or it may retain the Escrow Securities pending receipt of a final, non-appealable order of a
court having jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Securities are to be disbursed and delivered. The provisions of this
Section 5.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to
Sections 5.5 or 5.6 below.

     5.3 Compensation. The Escrow Agent shall be entitled to reasonable compensation from
the Company for all services rendered by it hereunder, as set forth on Exhibit B hereto. The
Escrow Agent shall also be entitled to reimbursement from the Company for all expenses paid or
incurred by it in the administration of its duties hereunder including, but not limited to, all
counsel, advisors’ and agents’ fees and disbursements and all taxes or other governmental charges.

     5.4 Further Assurances. From time to time on and after the date hereof, the Company
and the Initial Stockholders shall deliver or cause to be delivered to the Escrow Agent such
further documents and instruments and shall do or cause to be done such further acts as the Escrow
Agent shall reasonably request to carry out more effectively the provisions and purposes of this
Agreement, to evidence compliance herewith or to assure itself that it is protected in acting
hereunder.

     5.5 Resignation. The Escrow Agent may resign at any time and be discharged from its
duties as escrow agent hereunder by its giving the other parties hereto written notice and such
resignation shall become effective as hereinafter provided. Such resignation shall become
effective at such time that the Escrow Agent shall turn over the Escrow Securities held hereunder
to a successor escrow agent appointed by the Company. If no new escrow agent is so appointed
within the 60 day period following the giving of such notice of resignation, the Escrow Agent may
deposit the Escrow Securities with a State or Federal court located in New York County, New York,
provided the Escrow Agent provides notice of such deposit to the Company and the Initial
Stockholders in accordance with Section 6.7 hereof.

     5.6 Discharge of Escrow Agent. The Escrow Agent shall resign and be discharged from
its duties as escrow agent hereunder if so requested in writing at any time by the other parties
hereto, jointly; provided, however, that such resignation shall become effective only upon the
appointment by a successor escrow agent as provided for in Section 5.5.

4

 

          5.7 Liability. Notwithstanding anything herein to the contrary, the Escrow Agent
shall not be relieved from liability hereunder for its own gross negligence or its own willful
misconduct.

          5.8 Waiver. The Escrow Agent hereby waives any and all right, title, interest or
claim of any kind (each, a “Claim”) in or to any distribution of the Trust Account (as defined in
that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the
Company and the Escrow Agent as trustee thereunder), and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason
whatsoever.

     6. Miscellaneous.

          6.1 Governing Law. This Agreement shall for all purposes be deemed to be made under
and shall be construed in accordance with the laws of the State of New York. Each of the parties
hereby agrees that any action, proceeding or claim against it arising out of or relating in any way
to this Agreement shall be brought and enforced in the courts of the State of New York located in
New York County or the United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the
parties hereby waives any objection to such exclusive jurisdiction and that such courts represent
an inconvenient forum. Any such process or summons to be served upon the Company may be served by
transmitting a copy thereof by registered or certified mail, return receipt requested, postage
prepaid, addressed to it at the address set forth in Section 6.6 hereof. Such mailing shall be
deemed personal services and shall be legal and binding upon the Company in any action, proceeding
or claim.

          6.2 Third Party Beneficiaries. Each of the Initial Stockholders hereby expressly
acknowledges and agrees that the Underwriters are third party beneficiaries of this Agreement and
this Agreement may not be modified, amended or changed without the prior written consent of UBS
Securities LLC.

          6.3 Entire Agreement. This Agreement contains the entire agreement of the parties
hereto with respect to the subject matter hereof and, except as expressly provided herein, may not
be changed or modified except by an instrument in writing signed by the party to be charged.

          6.4 Headings. The headings contained in this Agreement are for reference purposes only
and shall not affect in any way the meaning or interpretation thereof.

          6.5 Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the respective parties hereto and their legal representatives, successors and assigns.

          6.6 Notices. Any notice or other communication required or which may be given
hereunder shall be in writing and either be delivered personally or by private national courier
service, or be mailed, certified or registered mail, return receipt requested, postage prepaid or
via facsimile, and shall be deemed given when so delivered personally or, if sent by private
national courier service, on the next business day after delivery to the courier, or, if

5

 

mailed, two business days after the date of mailing, or if sent via facsimile, the next
business day after transmission of the facsimile, as follows:

If to the Company, to:

FinTech Acquisition Corp.

405 Silverside Road,

Wilmington, Delaware 19089

Attn: Secretary

Fax No.: (302) 385-5117

If to a Stockholder, to his, her or its address set forth in Exhibit A.

and if to the Escrow Agent, to:

American Stock Transfer & Trust Company

59 Maiden Lane, Plaza Level

New York, New York 10038

Attn: Herbert Lemmer

Fax No.: (718) 331-1852

A copy of any notice sent hereunder shall be sent to:

Clifford Chance US LLP

31 West 52nd Street

New York, New York

Attn: Andrew S. Epstein, Esq.

Fax No.: (212) 878-8375

and

Ledgewood, P.C.

1900 Market Street, Suite 750

Philadelphia, Pennsylvania 19103

Attn: J. Baur Whittlesey, Esq.

Fax No.: (215) 735-2513

and

UBS Securities LLC

299 Park Avenue

New York, New York 10171

Attn: Syndicate Department

Fax No.: (212) 878-8375

6

 

     The parties may change the persons and addresses to which the notices or other communications
are to be sent by giving written notice to any such change in the manner provided herein for giving
notice.

          6.7 Liquidation of Company. The Company shall give the Escrow Agent written
notification of the liquidation and dissolution of the Company in the event that the Company fails
to consummate a Business Combination within the time period(s) specified in the Prospectus.

          6.8 Counterparts. This Agreement may be executed in several counterparts each one of
which shall constitute an original and may be delivered by facsimile transmission and together
shall constitute one instrument.

[Signature Page Follows]

7

 

     IN WITNESS WHEREOF, this Stock Escrow Agreement has been duly executed by the parties hereto
as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	FINTECH ACQUISITION CORP.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Betsy Z. Cohen, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Frank M. Mastrangelo, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Daniel G. Cohen, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Peter Chiccino, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Jeremy Kuiper, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Walter T. Beach, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Michele A. Fitzpatrick, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	T. Stephen Johnson, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Raymond Moyer, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Jill Kelly, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	John Barbella, as Initial Stockholder

Signature Page to FinTech Acquisition Corp. Stock Escrow Agreement

8

 

	 	 	 	 	 	 	 
	 	 	   
	 	 	Martin F. Egan, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Arthur Birenbaum, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Jim Hilty, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Don McGraw, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Scott Megargee, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Brian Berry, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Joyce Mehlman, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Sandy Reel, as Initial Stockholder
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	   
	 	 	Nancy Rosenau, as Initial Stockholder

	 	 	 	 	 
	TBBK Acquisitions I, LLC, as Initial Stockholder
	 
	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	AMERICAN STOCK TRANSFER & TRUST COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to FinTech Acquisition Corp. Stock Escrow Agreement

9

 

EXHIBIT B

Escrow Agent Fees

$                                         annually for acting agent escrow fee.

Initial acceptance fee and first year agent fee to be paid at closing.

10

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