Document:

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                                                                    Exhibit 10.2

                      INVESTMENT MANAGEMENT TRUST AGREEMENT

      This Agreement is made as of ___________, 2005 by and between Confluence
Acquisition Partners I, Inc. (the "Company") and Continental Stock Transfer &
Trust Company ("Trustee").

      WHEREAS, the Company's Registration Statement on Form S-1, No.
333-______________ ("Registration Statement"), for its initial public offering
of securities ("IPO") has been declared effective as of the date hereof by the
Securities and Exchange Commission ("Effective Date"); and

      WHEREAS, Dawson James Securities, Inc. (the "Representative") is acting as
the representative of the underwriters in the IPO; and

      WHEREAS, as described in the Registration Statement, and in accordance
with the Company's Certificate of Incorporation, $42,400,000 of the gross
proceeds of the IPO ($49,168,000 if the underwriters' over-allotment option is
exercised in full) will be delivered to the Trustee to be deposited and held in
a trust account for the benefit of the Company and the holders of the Company's
common stock, par value $.01 per share, issued in the IPO (the amount to be
delivered to the Trustee will be 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, 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;

      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 a segregated trust account ("Trust Account")
established by the Trustee at a branch of JPMorgan Chase NY Bank selected by the
Trustee;

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

      (c) In a timely manner, upon the instruction of the Company, to invest and
reinvest the Property in any "Government Security." As used herein, Government
Security means any Treasury Bill issued by the United States, having a maturity
of one hundred and eighty days or less;

      (d) Collect and receive, when due, all principal and income arising from
the Property, which shall become part of the "Property," as such term is used
herein;

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      (e) Notify the Company of all communications received by it with respect
to any Property requiring action by the Company;

      (f) Supply any necessary information or documents as may be requested by
the Company in connection with the Company's preparation of the tax returns for
the Trust Account;

      (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 and to the Representative, and to such other
person as the Company may instruct, monthly written statements of the activities
of and amounts in the Trust Account reflecting all receipts and disbursements of
the Trust Account; and

      (i) Commence liquidation of the Trust Account only after receipt of and
only in accordance with the terms of a letter ("Termination Letter"), in a form
substantially similar to that attached hereto as either Exhibit A or Exhibit B,
signed on behalf of the Company by its President or Chairman of the Board and
Secretary, and complete the liquidation of the Trust Account and distribute the
Property in the Trust Account only as directed in the Termination Letter and the
other documents referred to therein.

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 President or Chairman of the Board. In addition, except with
respect to its duties under paragraph 1(i) above, 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 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) Hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or
loss suffered by the Trustee 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 in any way arises out of or relates to this
Agreement, the services of the Trustee hereunder, or the Property or any income
earned from investment of the Property, except for expenses and losses resulting
from the Trustee's gross negligence 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 paragraph, 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

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counsel, which consent shall not be unreasonably withheld. The Company may
participate in such action with its own counsel; and

      (c) Pay the Trustee an initial acceptance fee of $1,000 and an annual fee
of $3,000 (it being expressly understood that the Property shall not be used to
pay such fee). The Company shall pay the Trustee the initial acceptance fee and
first year's fee at the consummation of the IPO and thereafter on the
anniversary of the Effective Date. The Trustee shall refund to the Company the
fee (on a pro rata basis) with respect to any period after the liquidation of
the Trust Fund. The Company shall not be responsible for any other fees or
charges of the Trustee except as may be provided in paragraph 2(b) hereof (it
being expressly understood that the Property shall not be used to make any
payments to the Trustee under such paragraph).

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

      (a) Take any action with respect to the Property, other than as directed
in paragraph 1 hereof and the Trustee shall have no liability to any party
except for liability arising out of its own gross negligence or willful
misconduct;

      (b) 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
expenses incident thereto;

      (c) Change the investment of any Property, other than in compliance with
paragraph 1(c);

      (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 exercise of its own best judgment, except for its gross
negligence 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), 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
Trustee, in good faith, 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,

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if the duties or rights of the Trustee are affected, unless it shall give its
prior written consent thereto;

      (g) Verify the correctness of the information set forth in the
Registration Statement or to confirm or assure that any acquisition made by the
Company or any other action taken by it is as contemplated by the Registration
Statement; and

      (h) Pay any taxes on behalf of the Trust Account (it being expressly
understood that the Property shall not be used to pay any such taxes and that
such taxes, if any, shall be paid by the Company from funds not held in the
Trust Account).

4. Termination. 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. At such time that the Company notifies the Trustee
that a successor trustee has been appointed by the Company 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, whereupon this Agreement shall terminate; provided, however,
that, in the event that the Company does not locate a successor trustee within
ninety days of receipt of the resignation notice from the Trustee, the Trustee
may submit an application to have the Property deposited 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;

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

      (c) On such date after _________, 2007 when the Trustee deposits the
Property with the United States District Court for the Southern District of New
York in the event that, prior to such date, the Trustee has not received a
Termination Letter from the Company pursuant to paragraph 1(i).

5. 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. Upon receipt of written instructions, the Trustee will
confirm such instructions with an Authorized Individual at an Authorized
Telephone Number listed on the attached Exhibit C. 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 information, or of any change in its authorized personnel. In
executing funds transfers, the Trustee will rely upon account numbers or other
identifying numbers of a beneficiary, beneficiary's bank or intermediary bank,

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rather than names. The Trustee shall not be liable for any loss, liability or
expense resulting from any error in an account number or other identifying
number, provided it has accurately transmitted the numbers provided.

      (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
conflict of laws. It may be executed in several 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 by a writing signed by
each of the parties hereto; provided, however, that no such change, amendment or
modification may be made without the prior written consent of the
Representative. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

      (d) The parties hereto consent to the jurisdiction and venue of any state
or federal court located in the City of New York, Borough of Manhattan, for
purposes of resolving any disputes hereunder.

      (e) 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 transmission:

            if to the Trustee, to:

            Continental Stock Transfer & Trust Company
            17 Battery Place
            8th Floor
            New York, New York 10004
            Attn: Mr. Steven Nelson, President
            Fax No.: (202) 509-5150

            if to the Company, to:

            Confluence Acquisition Partners I, Inc.
            12444 Powerscourt Drive
            Suite 225
            St. Louis, Missouri 63131
            Attn: Mr. John J. Klobnak, President
            Fax: [______________]

            in either case with a copy to:

            Dawson James Securities, Inc.
            925 South Federal Highway

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            6th Floor
            Boca Raton, FL  33432
            Attn: Robert D. Keyser
            Fax:  (561) 208-2966

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

      (g) Each of the Trustee and the Company 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.

      (h) Each of the Trustee and the Company hereby acknowledge that the
Representative is a third party beneficiary of this Agreement.

                           [Signature page to follow]

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      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: Steven Nelson
                                        Title: President

                                        CONFLUENCE ACQUISITION
                                        PARTNERS I, INC.

                                        By: ____________________________________
                                        Name: John J. Klobnak
                                        Title: President

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                                    EXHIBIT A

                             [LETTERHEAD OF COMPANY]

                                  [INSERT DATE]

Continental Stock Transfer & Trust Company
17 Battery Place
8th Floor
New York, New York  10004
Attn: Steven Nelson, President

Re: Trust Account No. [___________] Termination Letter

Gentlemen:

      Pursuant to paragraph 1(i) of the Investment Management Trust Agreement
between Confluence Acquisition Partners I, Inc. ("Company") and Continental
Stock Transfer & Trust Company ("Trustee"), dated as of _____________, 2005
("Trust Agreement"), this is to advise you that the Company has entered into an
agreement ("Business Agreement") with __________________ ("Target Business") to
consummate a business combination with Target Business ("Business Combination")
on or about [INSERT DATE]. The Company shall notify you at least 48 hours in
advance of the actual date of the consummation of the Business Combination
("Consummation Date").

      In accordance with the terms of the Trust Agreement, we hereby authorize
you to commence liquidation of the Trust Account to the effect that, on the
Consummation Date, all of 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.

      On the Consummation Date (i) counsel for the Company shall deliver to you
written notification that the Business Combination has been consummated and (ii)
the Company shall deliver to you written instructions with respect to the
transfer of the funds held in the Trust Account ("Instruction Letter"). You are
hereby directed and authorized to transfer the funds held in the Trust Account
immediately upon your receipt of the counsel's letter 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 of the same and
the Company shall direct you as to whether such funds should remain in the Trust
Account and distributed after the Consummation Date to the Company. Upon the
distribution of all the funds in the Trust Account pursuant to the terms hereof,
the Trust Agreement shall be terminated.

      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 the
funds

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held in the Trust Account shall be reinvested as provided in the Trust Agreement
on the business day immediately following the Consummation Date as set forth in
the notice.

                                         Very truly yours,

                                         CONFLUENCE ACQUISITION PARTNERS I, INC.

                                         By: ___________________________________
                                             NAME
                                             TITLE

                                         By: ___________________________________
                                             NAME
                                             TITLE

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                                    EXHIBIT B

                             [LETTERHEAD OF COMPANY]

                                  [INSERT DATE]

Continental Stock Transfer & Trust Company
17 Battery Place
8th Floor
New York, New York 10004
Attn: Steven Nelson, President
Re: Trust Account No. [_________] Termination Letter

Gentlemen:

      Pursuant to paragraph 1(i) of the Investment Management Trust Agreement
between Confluence Acquisition Partners I, Inc. ("Company") and Continental
Stock Transfer & Trust Company ("Trustee"), dated as of _____________, 2005
("Trust Agreement"), this is to advise you that the Board of Directors of the
Company has voted to dissolve and liquidate the Company due to the Company's
inability to effect a Business Combination with a Target Company within the time
frame specified in the Company's prospectus relating to its IPO. Attached hereto
is a copy of the minutes of the meeting of the Board of Directors of the Company
relating thereto, certified by the Secretary of the Company as true and correct
and in full force and effect.

      In accordance with the terms of the Trust Agreement, we hereby authorize
you to commence liquidation of the Trust Account. You will notify the Company
and JPMorgan Chase NY Bank ("Designated Paying Agent") in writing as to when all
of the funds in the Trust Account will be available for immediate transfer
("Transfer Date"). The Designated Paying Agent shall thereafter notify you as to
the account or accounts of the Designated Paying Agent that the funds in the
Trust Account should be transferred to on the Transfer Date so that the
Designated Paying Agent may commence distribution of such funds in accordance
with the Company's instructions. You shall have no obligation to oversee the
Designated Paying Agent's distribution of the funds. Upon the payment to the
Designated Paying Agent of all the funds in the Trust Account, the Trust
Agreement shall terminate in accordance with the terms thereof.

                                         Very truly yours,

                                         CONFLUENCE ACQUISITION PARTNERS I, INC.

                                         By: ___________________________________
                                             NAME
                                             TITLE

                                         By: ___________________________________
                                             NAME
                                             TITLE

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                                    EXHIBIT C

                 AUTHORIZED INDIVIDUAL(S) AND TELEPHONE NUMBERS

                       AUTHORIZED FOR TELEPHONE CALL BACK

COMPANY: Confluence Acquisition Partners I, Inc.
         12444 Powerscourt Drive
         Suite 225
         St. Louis, Missouri 63131
         Attn: John J. Klobnak, Chief Executive Officer
         Telephone: (314) 432-1945

TRUSTEE: Continental Stock Transfer & Trust Company
         17 Battery Place
         8th Floor
         New York, New York 10004
         Attn: Steven Nelson, President
         Telephone: ( 202 ) 845-3201<PAGE>

                                                                    Exhibit 10.3

                             STOCK ESCROW AGREEMENT

      STOCK ESCROW AGREEMENT, dated as of _________, 2005 ("Agreement"), by and
among CONFLUENCE ACQUISITION PARTNERS I, INC., a Delaware corporation
("Company"), the undersigned parties listed under the Initial Stockholder on
Exhibit A hereto (collectively "Initial Stockholders") and CONTINENTAL STOCK
TRANSFER & TRUST COMPANY, a New York corporation ("Escrow Agent").

      WHEREAS, the Company has entered into an Underwriting Agreement, dated
______, 2005 ("Underwriting Agreement"), with Dawson James Securities, Inc. (the
"Representative") acting as representative of the several underwriters
(collectively, the "Underwriters"), pursuant to which, among other matters, the
Underwriters will agree to purchase 8,000,000 units ("Units") of the Company.
Each Unit will consist of one share of the Company's Common Stock, par value
$.01 per share ("Common Stock"), and two Warrants, each Warrant to purchase one
share of Common Stock, all as more fully described in the Company's final
Prospectus, dated ________, 2005 ("Prospectus") comprising part of the Company's
Registration Statement on Form S-1 (File No. 333-_________) under the Securities
Act of 1933, as amended ("Registration Statement"), declared effective on
_____________, 2005 ("Effective Date").

      WHEREAS, the Initial Stockholders have agreed as a condition of the sale
of the Units to deposit their shares of Common Stock, as set forth opposite
their respective names in Exhibit A attached hereto (collectively "Escrow
Shares"), in escrow as hereinafter provided.

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

      IT IS AGREED:

      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 Shares. On or before the Effective Date, each of the
Initial Stockholders shall deliver to the Escrow Agent certificates representing
his respective Escrow Shares, to be held and disbursed subject to the terms and
conditions of this Agreement. Each Initial Stockholder acknowledges that the
certificate representing his Escrow Shares is legended to reflect the deposit of
such Escrow Shares under this Agreement.

      3. Disbursement of the Escrow Shares. The Escrow Agent shall hold the
Escrow Shares until the third anniversary of the Effective Date ("Escrow
Period"), on which date it shall, upon written instructions from each Initial
Stockholder, disburse each of the Initial Stockholder's Escrow Shares to such
Initial Stockholder; provided, 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 the Escrow Period, then the Escrow Agent shall promptly
destroy the certificates representing the Escrow Shares and; provided further,
that if, after the Company consummates a Business Combination (as such term is
defined in the Registration Statement), it (or the surviving entity)
subsequently consummates a liquidation, merger, stock exchange or other similar

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transaction which results in all of the stockholders of such entity having the
right to exchange their shares of Common Stock for cash, securities or other
property, then the Escrow Agent will, upon receipt of a certificate, executed by
the Chief Executive Officer or Chief Financial Officer of the Company, in form
reasonably acceptable to the Escrow Agent, stating that such transaction is then
being consummated, release the Escrow Shares to the Initial Stockholders upon
consummation of the transaction so that they can similarly participate. The
Escrow Agent shall have no further duties hereunder after the disbursement or
destruction of the Escrow Shares in accordance with this Section 3.

      4. Rights of Initial Stockholders in Escrow Shares.

                  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 the Escrow Period, including, without
limitation, the right to vote such shares.

                  4.2 Dividends and Other Distributions in Respect of the Escrow
Shares. During the Escrow Period, all dividends payable in cash with respect to
the Escrow Shares shall be paid to the Initial Stockholders, but all dividends
payable in stock or other non-cash 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 Shares" shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

                  4.3 Restrictions on Transfer. During the Escrow Period, no
sale, transfer or other disposition may be made of any or all of the Escrow
Shares except (i) by gift to a member of Initial Stockholder's immediate family
or to a trust, the beneficiary of which is an Initial Stockholder or a member of
an Initial Stockholder's immediate family, (ii) by virtue of the laws of descent
and distribution upon death of any Initial Stockholder, (iii) pursuant to a
qualified domestic relations order, or (iv) pursuant to a transfer of record
ownership whereby there is no change in beneficial ownership including a
transfer to the beneficial owners or partners of an Initial Stockholder for no
consideration if such Initial Stockholder is an entity; 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 signed by the Initial Stockholder
transferring the Escrow Shares. During the Escrow Period, the Initial
Stockholders shall not pledge or grant a security interest in the Escrow Shares
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 the Representative and the Company, dated as
indicated on Exhibit A hereto, and which is filed as an exhibit to the
Registration Statement ("Insider Letter"), respecting the rights and obligations
of such Initial Stockholder in certain events, including but not limited to the
liquidation of the Company.

      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

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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.

                  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 Shares 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 Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the
Escrow Shares 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 Shares 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. 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 to a successor escrow agent appointed by the
Company, the Escrow Shares held hereunder. If no new escrow agent is so

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appointed within the 60 day period following the giving of such notice of
resignation, the Escrow Agent may deposit the Escrow Shares with any court it
reasonably deems appropriate.

                  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 acceptance of appointment
by a successor escrow agent as provided in Section 5.5.

                  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.

      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 without giving effect to the conflicts of law principles
that would result in the application of the substantive laws of another
jurisdiction.

                  6.2 Third Party Beneficiary. Each of the Initial Stockholders
hereby acknowledges that the Representative is a third party beneficiary of this
Agreement and this Agreement may not be modified or changed without the prior
written consent of the Representative.

                  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 the 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 be mailed, certified or registered mail, or by private national
courier service, return receipt requested, postage prepaid, and shall be deemed
given when so delivered personally or, if mailed, two days after the date of
mailing, as follows:

If to the Company, to:

      Confluence Acquisition Partners I, Inc.
      12444 Powerscourt Drive
      Suite 225
      St. Louis, Missouri 63131
      Attn: John J. Klobnak, President

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<PAGE>

With a copy to:

      Dilworth Paxson LLP
      1818 N Street, NW; Suite 400
      Washington, DC 20036
      Attn: Kathleen L. Cerveny, Esq.

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

and if to the Escrow Agent, to:

      Continental Stock Transfer & Trust Company
      17 Battery Place
      8th Floor
      New York, New York  10004
      Attn: Steven Nelson, President

A copy of any notice sent hereby shall also be sent to:

      Blank Rome LLP
      1200 N. Federal Highway, Suite 417
      Boca Raton, FL 33432
      Attn: Bruce C. Rosetto, Esq.

and

      Dawson James Securities, Inc.
      925 South Federal Highway, 6th Floor
      Boca Raton, FL 33432
      Attn: Robert Keyster, CEO

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 Amendment. 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 by a writing signed by each of the parties hereto; provided, however,
that no such change, amendment or modification may be made without the prior
written consent of the Representative. As to any claim, cross-claim or
counterclaim in any way relating to this Agreement, each party waives the right
to trial by jury.

                  6.9 Assignment. This Agreement may not be assigned by the
Escrow Agent without the prior consent of the Company.

                                       5
<PAGE>

WITNESS the execution of this Agreement as of the date first above written.

                              CONFLUENCE ACQUISITION PARTNERS I, INC.

                                          ______________________________________
                                               John J. Klobnak
                                               President

                              INITIAL STOCKHOLDERS:

                                          ______________________________________
                                          John J. Klobnak

                                          ______________________________________
                                          B. Charles Bono Revocable Living Trust

                                          ______________________________________
                                          Robert W. May

                                          SV Life Sciences Advisers, Inc.

                                          By: __________________________________

                                          Confluence Acquisition, LLC

                                          By: __________________________________
                                              John J. Klobnak, Manager

                                          Pequot Scout Fund, L.P.

                                          By: __________________________________

                                          Pequot Mariner Master Fund, L.P.

                                          By: __________________________________

                                          ______________________________________
                                          John A. Stiles

                                          ______________________________________
                                          Marc R. Sarni Revocable Trust

                                       6
<PAGE>

                                          ______________________________________
                                          Richard Lindstrom

                                          ______________________________________
                                          George Sertl

                                          ______________________________________
                                          James C. Wachtman

                                          ______________________________________
                                          David L. Gearhart

                                          ______________________________________
                                          Steven Oliveira

                                          ______________________________________
                                          James P. Delsing

                                          ______________________________________
                                          Todd Thomason

                                          ______________________________________
                                          Frank J. Bono

                                          ______________________________________
                                          Donald Strickland

                                          ______________________________________
                                          Stephen Roy

                                          ______________________________________
                                          Timothy Marlo

                              CONTINENTAL STOCK TRANSFER & TRUST COMPANY

                                          By: __________________________________

                                          Name: ________________________________

                                          Title: _______________________________

                                       7
<PAGE>

                                    EXHIBIT A

<TABLE>
<CAPTION>
          INITIAL STOCKHOLDER            NUMBER OF SHARES   STOCK CERTIFICATE NUMBER
--------------------------------------   ----------------   ------------------------
<S>                                      <C>                <C>
John J. Klobnak                              325,000                    1
229 N. Spoede Road
St. Louis, MO 63141

B. Charles Bono Revocable Living Trust       325,000                    2
1330 Dietrich Oaks Drive
Manchester, MO  63021

Robert W. May                                325,000                    3
2322 Picardy Place Drive
Chesterfield, MO 63017

SV Life Sciences Advisers, Inc.              300,000                    4
60 State Street, Suite 3650
Boston, MA 02109

Confluence Acq. LLC                          225,000                    5
229 N. Spoede Road
St. Louis, MO 63141

Pequot Scout Fund, L.P.                      169,900                    6
c/o Pequot Capital Mgmt.
500 Nyala Farm Road
Westport, CT 06880

Pequot Mariner Master Fund, L.P.             105,100                   21
c/o Pequot Capital Mgmt.
500 Nyala Farm Road
Westport, CT 06880

John A. Stiles                                75,000                    8
1242 Bardot Lane
St. Louis, MO 63146

Marc R. Sarni Revocable Trust                 20,000                    9
1032 Tidewater Peace Ct.
St. Louis, MO 63017

Richard Lindstrom                             15,000                   10
710 East 24th Street, Suite 106
Minneapolis, MN 55423
</TABLE>

                                       8
<PAGE>

<TABLE>
<S>                                           <C>                      <C>
George Sertl                                  15,000                   11
10757 Forest Path
St. Louis, MO 63128

James C. Wachtman                             15,000                   12
330 Oakwood
St. Louis, MO 63319

David L. Gearhart                             15,000                   13
1220 S. Mason Road
Town & Country, MO 63131

Steven Oliveira                               15,000                   14
229 N. Spoede Road
St. Louis, MO 63141

James P. Delsing                              10,000                   15
229 N. Spoede Road
St. Louis, MO 63141

Todd Thomasson                                10,000                   16
8117 University Drive
Clayton, MO 63105

Frank J. Bono                                 10,000                   17
14618 Oak Orchard Court
Chesterfield, MO 63017

Donald Strickland                             10,000                   18
4306 West Pine Blvd.
St. Louis, MO 63108

Stephen Roy                                    7,500                   19
2 Berkshire Drive
St. Louis, MO 63117

Timothy Marlo                                  7,500                   20
12444 Powerscourt Drive
Suite 225
St. Louis, MO 63131
</TABLE>

                                       9

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