Document:

Exhibit 10.2

 

[________], 2021

 

StoneBridge Acquisition Corporation

One World Trade Center

Suite 8500

New York, NY 10007

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting
Agreement”) to be entered into by and between StoneBridge Acquisition Corporation, a Cayman Islands exempted company
(the “Company”), and Cantor Fitzgerald & Co. as representative (the “Representative”)
of the underwriters (each, an “Underwriter” and collectively, the “Underwriters”),
relating to an underwritten initial public offering (the “Public Offering”), of up to 23,000,000 of the
Company’s units (including up to 3,000,000 units that may be purchased to cover over-allotments, if any) (the “Units”),
each comprised of one of the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”),
and one-half of one redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder thereof
to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment. The Units shall be sold in the Public Offering
pursuant to a registration statement on Form S-1 (File No. 333-[__________]) and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Company shall
apply to have the Units listed on The Nasdaq Capital Market. Certain capitalized terms used herein are defined in Section 14
hereof.

 

In order to induce
the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, StoneBridge Acquisition Sponsor
LLC, a Delaware limited liability company (the “Sponsor”), and the undersigned individuals, each of whom
is a member of the Company’s board of directors and/or management team (each, an “Insider” and
collectively, the “Insiders”), hereby agree with the Company as follows:

 

1. Proposed Business
Combination. The officer and directors of the Company will not enter into a binding agreement for a proposed Business Combination
or propose any Business Combination to shareholders of the Company unless such action is first approved by the manager(s) of the
Sponsor. Subject to the foregoing, the Sponsor and each Insider agrees that: (a) if the Company seeks shareholder approval of a
proposed Business Combination, then in connection with such proposed Business Combination, it, he or she shall (i) vote any Shares
owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any Shares owned by it, him or her in
connection with such shareholder approval; (b) if the Company engages in a tender offer in connection with any proposed Business
Combination, it, he or she shall not sell any Shares to the Company in connection therewith; and (c) if the Company seeks shareholder
approval of any proposed amendment to the Charter prior to the consummation of a Business Combination, it, he or she shall not
redeem any Shares owned by it, him or her in connection with such shareholder approval.

 

2. Liquidation;
Charter Amendment; Trust Account Funds.

 

(a) The
Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
the time period set forth in the Charter, the Sponsor and each Insider shall take all reasonable steps to cause the Company
to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than
10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Ordinary Shares sold as part of
the Units in the Public Offering (the “Offering Shares”), at a price per Ordinary Share, payable in
cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
Trust Account and not previously released to the Company to pay any taxes (less up to $100,000 of interest to pay dissolution
expenses), divided by the number of then issued outstanding Offering Shares, which redemption will completely extinguish all
Public Shareholders’ rights as shareholders (including the right to receive further liquidating distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in the
case of clauses (ii) and (iii) above to the Company’s obligations under Cayman Islands law to provide for claims of
creditors and other requirements of applicable law.

 

     

     

    

 

(b) The Sponsor
and each Insider agrees to not propose any amendment to the Charter (i) that would affect the substance or timing of the Company’s
obligation to allow redemption in connection with the Business Combination or to redeem 100% of the Offering Shares if the Company
does not complete a Business Combination within the time period described in the Prospectus or (ii) with respect to any other provision
relating to shareholders’ rights or pre-Business Combination activity, unless the Company provides its Public Shareholders
with the opportunity to redeem their Ordinary Shares upon approval of any such amendment at a price per Ordinary Share, payable
in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
Trust Account and not previously released to the Company to pay any taxes, divided by the number of then issued and outstanding
Offering Shares.

 

(c) The Sponsor
and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in
the Trust Account or any other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares
held by it, him or her. The Sponsor and each Insider hereby further waives any claim such Sponsor or Insider 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 in each case with respect to the Insider’s right to a pro rata interest in the proceeds
held in the Trust Account for any Offering Shares such Sponsor or Insider may hold.

 

3. Section 16
Matters. During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after such
date, the Sponsor and each Insider shall not, without the prior written consent of the Representative, (a) sell, offer to sell,
contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly
or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the
meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the
rules and regulations of the Commission promulgated thereunder, with respect to any Units, Ordinary Shares, Founder Shares, Private
Placement Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or
her, (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any Units, Ordinary Shares, Founder Shares, Private Placement Warrants or any securities convertible into, or exercisable,
or exchangeable for, Ordinary Shares owned by it, him or her, whether any such transaction is to be settled by delivery of such
securities, in cash or otherwise, or (c) publicly announce any intention to effect any transaction specified in clause (a) or (b).
The Sponsor and each Insider acknowledge and agree that, prior to the effective date of any release or waiver, of the restrictions
set forth in this Section 3 or Section 7 below, the Company shall announce the impending release or waiver by press
release through a major news service at least two business days before the effective date of the release or waiver. Any release
or waiver granted shall only be effective two business days after the publication date of such press release. The provisions of
this Section 3 will not apply if the release or waiver is effected solely to permit a transfer not for consideration and
the transferee has agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the
duration that such terms remain in effect at the time of the transfer.

 

4. Trust
Account Liquidation. In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of
clarification shall not extend to any other shareholders, members or managers of the Sponsor) agrees to indemnify and hold
harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited
to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation,
whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by
(a) any third party for services rendered or products sold to the Company or (b) a prospective target business with which the
Company has entered into a letter of intent, confidentiality or other similar agreement or a Business Combination agreement
(a “Target”); provided, however, that such indemnification of the Company by the Sponsor
shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the
Company’s independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds
in the Trust Account to below (i) $10.00 per Offering Share or (ii) such lesser amount per Offering Share held in the Trust
Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each
case, net of the amount of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except
as to any claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the
Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against certain
liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed waiver
is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability
for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice
reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor,
the Sponsor notifies the Company in writing that it shall undertake such defense.

 

     

     

    

 

5. Forfeiture.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 3,000,000 Units
within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at
no cost, a number of Founder Shares in the aggregate equal to 750,000 multiplied by a fraction, (a) the numerator of which is 3,000,000
minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (b) the denominator
of which is 3,000,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary so that the Sponsor
and Insiders will own an aggregate of 20.0% of the Company’s issued and outstanding equity shares after the Public Offering.

 

6. Specific Performance.
The parties hereto agree and acknowledge that: (a) the Underwriters, the Sponsor and the Company would be irreparably injured in
the event of a breach by the applicable parties hereto of its, his or her obligations under Section 1, Section 2,
Section 3, Section 4, Section 5, Section 7(a), Section 7(b), Section 8, Section 9,
Section 10, and Section 13, as applicable, of this Letter Agreement (b) monetary damages may not be an adequate remedy
for such breach and (c) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such
party may have in law or in equity, in the event of such breach.

 

7. Lock-Up Restrictions.

 

(a) The Sponsor and each
Insider agrees that it, he or she shall not Transfer any Founder Shares (or Ordinary Shares issuable upon conversion thereof) until
the earlier of (i) one year after the completion of the Company’s initial Business Combination or (ii) subsequent to the
initial Business Combination, (x) if the last sale price of the Ordinary Shares equals or exceeds $12.00 per Ordinary Share (as
adjusted for share splits, share consolidations, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company’s initial
Business Combination or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other
similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares
for cash, securities or other property (the “Founder Shares Lock-up Period”).

 

(b) The Sponsor and each
Insider agrees that it, he or she shall not Transfer any Private Placement Warrants (and the Ordinary Shares issuable upon their
exercise), until 30 days after the completion of the Company’s initial Business Combination (the “Private Placement
Warrants Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c) Notwithstanding
the provisions set forth in Sections 7(a) and Sections 7(b), Transfers of the Founder Shares, Private Placement
Warrants or the Ordinary Shares issued or issuable upon the conversion of the Private Placement Warrants or the Founder
Shares and that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this Section
7(c)), are permitted (i) to the Company’s officers or directors, any affiliates or family members of any of the
Company’s officers or directors, any members of the Sponsor, or any affiliates of the Sponsor; (ii) in the case of an
individual, transfers by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is
a member of the individual’s immediate family or an affiliate of such person, or to a charitable organization; (iii) in
the case of an individual, transfers by virtue of laws of descent and distribution upon death of the individual; (iv) in the
case of an individual, transfers pursuant to a qualified domestic relations order; (v) transfers by private sales or
transfers made in connection with any forward purchase agreement or similar arrangements or in connection with the
consummation of a Business Combination at prices no greater than the price at which the securities were originally purchased;
(vi) transfers in the event of the Company’s liquidation prior to the completion of an initial Business Combination;
and (vii) transfers by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement
upon dissolution of the Sponsor; provided, however, that in the case of clauses (i) through (v) or (vii), these permitted
transferees must enter into a written agreement agreeing to be bound by the restrictions herein and by the same agreements
entered into by the Sponsor with respect to such securities (including provisions relating to voting, the trust account and
liquidation distributions).

 

     

     

    

 

8. Director and
Officer Appointments. Each of the Insiders agrees to be a director or officer of the Company, as applicable, until the
earlier of the consummation by the Company of an initial Business Combination, the liquidation of the Company, or his or her removal,
death or incapacity. In the event of the removal or resignation of an Insider as a director or officer (as applicable), each Insider
agrees that he or she will not, prior to the consummation of the Business Combination, without the prior express written consent
of the Company, (a) use for the benefit of the undersigned or to the detriment of the Company or (b) disclose to any third party
(unless required by law or governmental authority), any information regarding a potential Target that is not generally known by
persons outside of the Company, the Sponsor, or their respective affiliates.

 

9. Approval of
Business Combination. Subject to Section 1, each of the undersigned acknowledges and agrees that prior to entering
into a definitive agreement for a Business Combination with a Target that is affiliated with the Sponsor, any of the Insiders of
the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested directors
and the Company must obtain an opinion from an independent investment banking firm, another independent entity that commonly renders
valuation opinions for the type of company the Company is seeking to acquire, or an independent accounting firm, that such Business
Combination is fair to the Company from a financial point of view.

 

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

 

11. No Insider
Payments. Except as disclosed in the Prospectus, neither the Sponsor, nor any Insider, nor any affiliate of either the
Sponsor or any Insider, nor any director or officer of the Company, shall receive from the Company any finder’s fee, reimbursement
or cash payments prior to or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is), other than the amounts described in the Prospectus
under the heading “Summary – The Offering – Limited Payments to Insiders.”

 

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

 

13. Sponsor Representative

 

(a) The Company and
the Insiders will take all appropriate steps to ensure that the board of directors of the Company consists of [●] members
or as otherwise determined by the Sponsor in accordance with the Charter.

 

(b) The Sponsor shall
be entitled to designate one (1) representative (the “Sponsor Representative”) and the directors of the Company
will, in accordance with the Charter, appoint that Sponsor Representative to the board of directors of the Company as a director
of the Company.

 

     

     

    

 

(c) In the event that
any Sponsor Representative is unable for any reason including lack of qualifications or refusal to serve as a director, then the
Sponsor shall be entitled to name a new nominee to fill such position and the directors of the Company will, in accordance with
the Charter, appoint that Sponsor Representative to the board of directors of the Company as a director of the Company.

 

(d) The Company agrees
that the Sponsor Representative shall be indemnified by the Company for his or her conduct as a director to the same extent and
in the same manner as the current and other directors of the Company are currently indemnified and shall be included on the policy
of directors and officers insurance to the same extent as all other directors.

 

(e) Each of the Insiders
acknowledges and agrees not to take any action resulting in the Company incurring, accruing or being obligated to any expenditure
of $50,000 or greater, without the prior written consent of the Sponsor Representative.

 

14. Defined Terms.
As used herein, (a) “Business Combination” shall mean a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (b) “Shares”
shall mean, collectively, the Ordinary Shares, the Founder Shares and the Ordinary Shares issued or issuable upon the conversion
of the Private Placement Warrants or the Founder Shares; (c) “Founder Shares” shall mean the 5,750,00
of the Company’s Class B ordinary shares, par value $0.0001 per share, initially issued to the Sponsor (up to 750,000 Shares
of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters)
for an aggregate purchase price of $25,000, or $0.004 per share, prior to the consummation of the Public Offering; (d) “Private
Placement Warrants” shall mean the 6,000,000 (or up to 6,600,000 depending on the extent to which the Underwriter’s
over-allotment option is exercised) Warrants of the Company that the Company is selling in a private placement that shall occur
simultaneously with the consummation of the Public Offering; (e) “Public Shareholders” shall mean the
holders of securities issued in the Public Offering; (f) “Trust Account” shall mean the trust fund located
in the United States into which a portion of the net proceeds of the Public Offering shall be deposited; (g) “Transfer”
shall mean the (i) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act and
the rules and regulations of the Commission promulgated thereunder with respect to, any security, (ii) entry into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether
any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) public announcement of any
intention to effect any transaction specified in clause (g)(i) or (g)(ii); and (h) “Charter” shall mean
the Company’s memorandum and articles of association, as the same may be amended from time to time.

 

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

 

16. Assignment;
Successors and Assigns. No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations
hereunder without the prior written consent of the other party. Any purported assignment in violation of this Section shall be
void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement
shall be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

17. Third-Party
Beneficiaries.

 

(a) The Company, the
Sponsor and each Insider hereby acknowledges and agrees that the Representative on behalf of the Underwriters is a third-party
beneficiary of this Letter Agreement.

 

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

 

     

     

    

 

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

 

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

 

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

 

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

 

22. Term.
This Letter Agreement shall terminate on the earlier of (a) the expiration of the Lock-up Periods or (b) the liquidation of the
Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is
not consummated and closed by December 31, 2021; provided, further, that Section 4 of this Letter Agreement shall
survive such liquidation.

 

[Signature Page Follows]

 

     

     

    

 

	 	Sincerely,
	 	 	 
	 	StoneBridge Acquisition Sponsor LLC
	 	 	 
	 	By:	BP SPAC Sponsor LLC
	 	 	Its managing member
	 	 	 
	 	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	 
	 	Bhargava Marepally
	 	 
	 	 
	 	Prabhu Antony
	 	 
	 	 
	 	Richard Saldanha
	 	 
	 	 
	 	Sylvia Barnes
	 	 
	 	 
	 	Shamla Naidoo
	 	 
	 	 
	 	Naresh Kothari
	 	 
	 	 
	 	Jeff Najarian

 

     

     

    

 

Acknowledged and Agreed:

StoneBridge Acquisition Company

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

[Signature Page to Letter Agreement]Exhibit 10.3

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made effective as of _____, 2021, by and between StoneBridge Acquisition
Corporation, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation (the “Trustee”).

 

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

 

WHEREAS, the Company
has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Cantor Fitzgerald &
Co., as representative (the “Representative”) of the several underwriters (the “Underwriters”)
named therein;

 

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

 

WHEREAS, pursuant to
the Underwriting Agreement, a portion of the Property equal to $7,000,000 (or up to $8,050,000 if the Underwriter’s over-allotment
option is exercised in full) of deferred underwriting discounts and commissions that will be payable by the Company to the Representative
upon and concurrently with the consummation of the Business Combination (as defined below) (the “Deferred Discount”);
and

 

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

 

NOW THEREFORE, IT IS
AGREED:

 

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

 

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

 

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

 

(c) In a timely manner,
upon the written instruction of the Company, invest and reinvest the Property solely in United States government securities within
the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in
money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment
Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined
by the Company; it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the
Company’s written instructions hereunder and the Trustee may earn bank credits or other consideration;

 

     

     

    

 

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

 

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

 

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

 

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

 

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

 

(i) Commence liquidation
of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from the
Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer,
President, Secretary or Chairman of the board of directors of the Company (the “Board”) or other authorized
officers of the Company, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including
interest not previously released to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company
to pay dissolution expenses), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon
the date which is, the later of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the
Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles of association
if a Termination Letter has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated
in accordance with the procedures set forth in the Termination Letter attached as Exhibit B and the Property in the Trust
Account, including interest not previously released to the Company to pay its taxes (less up to $100,000 of interest that may be
released to the Company to pay dissolution expenses) shall be distributed to the Public Shareholders of record as of such date;
provided, however, that in the event the Trustee receives a Termination Letter in a form substantially similar to
Exhibit B hereto, or if the Trustee begins to liquidate the Property because it has received no such Termination Letter
by the date specified in clause (y) of this Section 1(i) the Trustee shall keep the Trust Account open until twelve (12) months
following the date the Property has been distributed to the Public Shareholders.

 

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

 

(k) Upon written
request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
D, the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem
Ordinary Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to
the Company’s amended and restated memorandum and articles of association to modify the substance or timing of the
ability of Public Shareholders to seek redemption in connection with an initial Business Combination or the Company’s
obligation to redeem 100% of its public Ordinary Shares if the Company has not consummated an initial Business Combination
within such time as is described in Section 1(i) of the Agreement. The written request of the Company referenced above shall
constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have no
responsibility to look beyond said request; and

 

     

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     

     

    

 

(h) Within four (4) business
days after the Underwriters exercise the over-allotment option (or any unexercised portion thereof) or such over-allotment expires,
provide the Trustee with a notice in writing of the total amount of the Deferred Discount.

 

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

 

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

 

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

 

(c) Institute any proceeding
for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with
respect to, any of the Property unless and until it shall have received written 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;

 

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

 

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

 

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

 

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

 

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

 

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

 

(j) Prepare, execute
and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating
to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, except pursuant to Section
1(j) hereof; or

 

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

 

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

 

     

     

    

 

5. Termination.
This Agreement shall terminate as follows:

 

(a) If the Trustee gives
written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate
a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the Company
notifies the Trustee that a successor trustee has been appointed 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 (90) days
of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited with
any court in the State of New York or with the United States District Court for the Southern District of New York and upon such
deposit, the Trustee shall be immune from any liability whatsoever; or

 

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

 

6. Miscellaneous.

 

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

 

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

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections
1(i), 1(j), 1(k) and 1(l) hereof (which sections may not be modified, amended or deleted without the affirmative
vote of sixty five percent (65%) of the then issued and outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001
per share, of the Company voting together as a single class; provided that no such amendment will affect any Public Shareholder
who has otherwise indicated his election to redeem his Ordinary Shares in connection with a shareholder vote sought to amend this
Agreement), this Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical
error) by a writing signed by each of the parties hereto. Except for any liability arising out of the Trustee’s gross negligence,
fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections referenced
above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon.

 

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

 

     

     

    

 

(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 electronic
mail:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

cgonzalez@continentalstock.com

 

if to the Company, to:

 

StoneBridge Acquisition Corporation

One World Trade Center

Suite 8500

New York, NY 10007

Attn: Prabhu Antony

Email:

 

in each case, with copies to:

 

Reed Smith LLP

599 Lexington Avenue

New York, NY 10022

Attn: Ari Edelman, Esq.

Email: aedelman@reedsmith.com

 

and

 

Cantor Fitzgerald & Co.

110 East 59th Street

New York, New York 10022

Attn: General Counsel

 

and

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

Email: sneuhauser@egsllp.com

 

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

 

(g) This Agreement is
the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation
and agreement of such parties and shall not be construed for or against any party hereto.

 

     

     

    

 

(h) This Agreement may
be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together
constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.

 

(i) Each of the Company
and the Trustee hereby acknowledges and agrees that the Representative on behalf of the Underwriters are third party beneficiaries
of this Agreement.

 

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

 

[Signature Page Follows]

 

     

     

    

 

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:	 
	 	 	Title:	 
	 	 	 	 
	 	STONEBRIDGE ACQUISITION CORPORATION
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

     

     

    

 

SCHEDULE A

 

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

 

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust
Account No. [●] Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between StoneBridge Acquisition Corporation (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of ____,2021 (the “Trust
Agreement”), this is to advise you that the Company has entered into an agreement with (the “Target Business”)
to consummate a business combination with the Target Business (the “Business Combination”) on or about
[insert date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date of the consummation of
the Business Combination (the “Consummation Date”). Capitalized terms used but not defined herein shall
have the meanings set forth in the Trust Agreement.

 

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

 

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

 

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

 

     

     

    

 

	 	StoneBridge Acquisition Corporation 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	AGREED TO AND ACKNOWLEDGED BY	 
	 	 
	Cantor Fitzgerald & Co.	 
	 	 	 	 
	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

     

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust
Account No. [●] Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between StoneBridge Acquisition Corporation (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _____, 2021 (the “Trust
Agreement”), this is to advise you that the Company did not effect a business combination with a Target Business
(the “Business Combination”) within the time frame specified in Section 1(i) of the Trust Agreement.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

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

 

	 	Very truly yours,
	 	 
	 	StoneBridge Acquisition Corporation 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	cc:	Cantor Fitzgerald & Co.

 

     

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account
No. [●] Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez :

 

Pursuant to Section
1(j) of the Investment Management Trust Agreement between StoneBridge Acquisition Corporation (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _____, 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the Company $ [ ] of the interest income earned on the
Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

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

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	StoneBridge Acquisition Corporation 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	cc:	Cantor Fitzgerald & Co.

 

     

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re: Trust Account
No. [●] Shareholder Redemption Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez :

 

Pursuant to Section
1(k) of the Investment Management Trust Agreement between StoneBridge Acquisition Corporation (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _____, 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders of the Company $[
] of the principal and interest income earned on the Property as of the date hereof to a segregated account held by you on behalf
of the Beneficiaries for distribution to the Shareholders who have requested redemption of their Ordinary Shares. Capitalized terms
used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such
funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection
with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association
to modify the substance or timing of the Company’s obligation to redeem 100% of public Ordinary Shares if the Company has
not consummated an initial Business Combination within such time as is described in Section 1(i) of the Trust Agreement. As such,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.

 

	 	Very truly yours,
	 	 
	 	StoneBridge Acquisition Corporation 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	cc:	Cantor Fitzgerald & Co.

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