Document:

STOCK
        ESCROW AGREEMENT

      

      STOCK
        ESCROW AGREEMENT, dated as of _____________, 2006 (“Agreement”), by and among
        ALYST ACQUISITION CORP., a Delaware corporation (“Company”), DR. WILLIAM WEKSEL,
        ROBERT A. SCHRIESHEIM, ROBERT H. DAVIES, MICHAEL E. WEKSEL, PAUL LEVY, IRA
        HOLLENBERG IRA, SILVERMAN REALTY GROUP, INC. PROFIT SHARING PLAN (LCPSP),
        MATHEW
        BOTWIN, NORBERT W. STRAUSS, DAVID STRAUSS and JONATHAN STRAUSS (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 __________,
        2006
        (“Underwriting Agreement”), with Jesup
        & Lamont Securities Corporation
        (“J&LSC”) acting as representative of the several underwriters
        (collectively, the “Underwriters”), pursuant to which, among other matters, the
        Underwriters have agreed to purchase 7,000,000 units (“Units”) of the Company.
        Each Unit consists of one share of the Company’s common stock, par value $.0001
        per share (“Common Stock”), and one Warrant, each Warrant to purchase one share
        of Common Stock, all as more fully described in the Company’s final Prospectus,
        dated _________, 2006 (“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 ________, 2006 (“Effective Date”).

      

      WHEREAS,
        the Initial Stockholders have agreed as a condition of the sale of the Units
        to
        deposit their shares of Common Stock of the Company, 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 one year after the consummation
        of a Business Combination (as defined in the Registration Statement) (“Escrow
        Period”), on which date it shall, upon written instructions from each Initial
        Stockholder, disburse each of the Initial Stockholder’s Escrow Shares (and any
        applicable stock power) 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; provided further, however, 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 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 of the Company, in
        form
        reasonably acceptable to the Escrow Agent, 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, or (iii) pursuant to a qualified domestic relations order;
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 without
        the
        prior consent of the Company.

      

      4.4 Insider
        Letters.
        Each of
        the Initial Stockholders has executed a letter agreement with J&LSC 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 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. 

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

       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 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.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      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 conflicts of law principles that would result in the application
        of
        the substantive laws of another jurisdiction.

      

      6.2 Third
        Party Beneficiaries.
        Each of
        the Initial Stockholders hereby acknowledges that the Underwriters are third
        party beneficiaries of this Agreement and this Agreement may not be modified
        or
        changed without the prior written consent of J&LSC. 

      

      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.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      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:

        

      

       

      
        Alyst
          Acquisition Corp.

      

      233
        East
        69th Street, #6J

      New
        York,
        New York 10021

      Attn: Chairman

      

      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

      New
        York,
        New York 10004

      Attn: Chairman

      

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

      

      

      and:

      

      Jesup
        & Lamont Securities Corporation

      650
        Fifth
        Avenue

      New
        York,
        NY 10019

      Attn: Stephen
        J. DeGroat, Chairman

      

      and:

      

      Graubard
        Miller

      The
        Chrysler Building

      405
        Lexington Avenue

      New
        York,
        New York 10174

      Attn: David
        Alan Miller, Esq.

       

      and:

      

      Greenberg
        Traurig, LLP

      Met
        Life
        Building

      200
        Park
        Avenue

      New
        York,
        New York 1016

      Attn: Alan
        I.
        Annex, Esq.

       

      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 the 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.

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

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

       

      
 

      ALYST
        ACQUISITION CORP.

      

      

      

      By:
         ______________________________  

      Name:

      Title:

       

       

       

      INITIAL
        STOCKHOLDERS:

       

       

      ___________________________

      DR.
        WILLIAM WEKSEL

      

      

      ___________________________

      ROBERT
        A.
        SCHRIESHEIM

      

      

      ___________________________

      ROBERT
        H.
        DAVIES

      

      

      ___________________________

      MICHAEL
        E. WEKSEL

       

      

      ___________________________

      PAUL
        LEVY

       

      
 

      IRA
        HOLLENBERG IRA

      

      

      By: ___________________________

      Name:

      Title:

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      SILVERMAN
        REALTY GROUP, INC.

      PROFIT
        SHARING PLAN (LCPSP)

      

      

      By: ___________________________

      Name:

      Title:

      

      

      ___________________________

      MATHEW
        BOTWIN

      

      

      ___________________________

      NORBERT
        W. STRAUSS

      

      

      ___________________________

      DAVID
        STRAUSS

      

      

      ___________________________

      JONATHAN
        STRAUSS

      

      

      CONTINENTAL
        STOCK TRANSFER

      &
        TRUST COMPANY

      

      

      By: 
        ________________________________

      Name:
        

      Title:
        

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      EXHIBIT
        A

      

      
        	
                 

                Name
                  and Address of 

                Initial
                  Stockholder 

              	 	
                 

                Number
                  

                of
                  Shares

              	 	
                 

                Stock
                  

                Certificate
                  Number

              	 	
                 

                Date
                  of 

                Insider
                  Letter

              
	 	 	 	 	 	 	 
	
                Dr.
                  William Weksel

                Alyst
                  Acquisition Corp.

                233
                  East 69th Street, #6J

                New
                  York, New York 10021

              	 	
                362,500

              	 	
                1

              	 	
                October
                  13, 2006

              
	
                Robert
                  A. Schriesheim

                Alyst
                  Acquisition Corp.

                233
                  East 69th Street, #6J

                New
                  York, New York 10021

              	 	
                362,500

              	 	
                2

              	 	
                October
                  13, 2006

              
	
                Robert
                  H. Davies

                Alyst
                  Acquisition Corp.

                233
                  East 69th Street, #6J

                New
                  York, New York 10021

              	 	
                362,500

              	 	
                3

              	 	
                October
                  13, 2006

              
	
                Michael
                  E. Weksel

                Alyst
                  Acquisition Corp.

                233
                  East 69th Street, #6J

                New
                  York, New York 10021

              	 	
                362,500

              	 	
                4

              	 	
                October
                  13, 2006

              
	
                Paul
                  Levy

              	 	
                90,000

              	 	
                5

              	 	
                October
                  13, 2006

              
	
                Ira
                  Hollenberg IRA

              	 	
                60,000

              	 	
                6

              	 	
                October
                  13, 2006

              
	
                Silverman
                  Realty Group, Inc. Profit Sharing Plan (LCPSP)

              	 	
                60,000

              	 	
                7

              	 	
                October
                  13, 2006

              
	
                Matthew
                  Botwin

              	 	
                30,000

              	 	
                8

              	 	
                October
                  13, 2006

              
	
                Norbert
                  W. Strauss

              	 	
                20,000

              	 	
                9

              	 	
                October
                  13, 2006

              
	
                David
                  Strauss

              	 	
                20,000

              	 	
                10

              	 	
                October
                  13, 2006

              
	
                Jonathan
                  Strauss

              	 	
                20,000

              	 	
                11

              	 	
                October
                  13, 2006WARRANT
      ESCROW AGREEMENT

    

    WARRANT
      ESCROW AGREEMENT, dated as of _____________, 2006 (“Agreement”), by and among
ALYST
      ACQUISITION CORP., a Delaware corporation (“Company”), DR. WILLIAM WEKSEL,
      ROBERT A. SCHRIESHEIM, ROBERT H. DAVIES, MICHAEL E. WEKSEL, PAUL LEVY, IRA
      HOLLENBERG IRA, SILVERMAN REALTY GROUP, INC. PROFIT SHARING PLAN (LCPSP),
      NORBERT W. STRAUSS, DAVID STRAUSS and JONATHAN STRAUSS (collectively, the
“Insider Purchasers”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
a
      New
      York corporation (“Escrow
      Agent”).

    

    WHEREAS,
      the Company has received binding commitments
      (“Subscription Agreements”)
      from the
      Insider Purchasers to purchase an aggregate of 1,820,000 warrants (“Insider
      Warrants”). 

     

    WHEREAS,
      the Company has entered into an Underwriting Agreement, dated __________, 2006
      (“Underwriting Agreement”), with Jesup & Lamont Securities Corporation.
      (“J&LSC”), pursuant to which, among other matters, J&LSC has agreed to
      purchase 7,000,000 units (“Units”) of the Company. Each Unit consists of one
      share of the Company’s common stock, par value $.0001 per share (“Common
      Stock”), and one Warrant, each Warrant to purchase one share of Common Stock,
      all as more fully described in the Company’s final Prospectus, dated _________,
      2006 (“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 ________, 2006
      (“Effective Date”).

    

    WHEREAS,
      the Insider Purchasers have agreed as a condition of the sale of the Units
      to
      deposit their Insider Warrants, as set forth opposite their name in Exhibit
      A
      attached hereto (collectively “Escrow Warrants”), in escrow as hereinafter
      provided.

    

    WHEREAS,
      the Company and the Insider Purchasers desire that the Escrow Agent accept
      the
      Escrow Warrants, in escrow, to be held and disbursed as hereinafter
      provided.

    

    IT
      IS
      AGREED:

    1. Appointment
      of Escrow Agent.
      The
      Company and the Insider Purchasers 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 Warrants.
      On or
      before the Effective Date, the Insider Purchasers shall deliver to the Escrow
      Agent certificates representing the Escrow Warrants, to be held and disbursed
      subject to the terms and conditions of this Agreement. The Insider Purchasers
      acknowledge that the certificates representing the Escrow Warrants are legended
      to reflect the deposit of such Escrow Warrants under this
      Agreement.

    

    3. Disbursement
      of the Escrow Warrants.
      The
      Escrow Agent shall hold the Escrow Warrants until 30 days after the consummation
      of a Business Combination (as such term is defined in the Registration
      Statement) (“Escrow Period”), on which date it shall, upon written instructions
      from the Insider Purchasers, disburse the Insider Purchasers’ Escrow Warrants to
      the Insider Purchasers; 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 Warrants. The Escrow
      Agent shall have no further duties hereunder after the disbursement or
      destruction of the Escrow Warrants in accordance with this
      Section 3.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    4. Restrictions
      on Transfer of Escrow Warrants.
      During
      the Escrow Period, no sale, transfer or other disposition may be made of any
      or
      all of the Escrow Warrants except (i) upon
      the
      dissolution and liquidation of an Insider Purchaser and the distribution of
      assets to its members; (ii) by gift to a immediate family member of an Insider
      Purchaser or to a trust, the beneficiary of which is a member of the Insider
      Purchaser or a member of the immediate family of the Insider Purchaser’s
      members, (iii) by virtue of the laws of descent and distribution upon death
      of
      any Insider Purchaser, or (iv) pursuant to a qualified domestic relations
      order;
      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 Subscription Agreement signed by the Insider Purchaser
      making the transfer. 

    

    5. Concerning
      the Escrow Agent.

    

    5.1 Good
      Faith Reliance.
      The
      Escrow Agent shall not be liable for any action taken or omitted by it in good
      faith and in the exercise of its own best judgment, and may rely conclusively
      and shall be protected in acting upon any order, notice, demand, certificate,
      opinion or advice of counsel (including counsel chosen by the Escrow Agent),
      statement, instrument, report or other paper or document (not only as to its
      due
      execution and the validity and effectiveness of its provisions, but also as
      to
      the truth and acceptability of any information therein contained) which is
      believed by the Escrow Agent to be genuine and to be signed or presented by
      the
      proper person or persons. The Escrow Agent shall not be bound by any notice
      or
      demand, or any waiver, modification, termination or rescission of this Agreement
      unless evidenced by a writing delivered to the Escrow Agent signed by the proper
      party or parties and, if the duties or rights of the Escrow Agent are affected,
      unless it shall have given its prior written consent thereto. 

    

     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 Warrants 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 Warrants or it may deposit the Escrow Warrants with the clerk of
      any
      appropriate court or it may retain the Escrow Warrants 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
      Warrants 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.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    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 Insider
      Purchasers 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 Warrants held
      hereunder. If no new escrow agent is so appointed within the 60 day period
      following the giving of such notice of resignation, the Escrow Agent may deposit
      the Escrow Warrants 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 conflicts of law principles that would result in the application
      of
      the substantive laws of another jurisdiction.

    

    6.2 Third
      Party Beneficiaries.
      Each of
      the Initial Stockholders hereby acknowledges that the Underwriters are third
      party beneficiaries of this Agreement and this Agreement may not be modified
      or
      changed without the prior written consent of J&LSC. 

    

    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.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    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:

      

    

    

    Alyst
      Acquisition Corp.

    233
      East
      69th Street, #6J

    New
      York,
      New York 10021

    Attn: Chairman

    

    If
      to the
      Insider Purchasers, to their respective addresses set forth in Exhibit
      A.

    

    and
      if to
      the Escrow Agent, to:

    

    Continental
      Stock Transfer & Trust Company

    17
      Battery Place

    New
      York,
      New York 10004

    Attn: Chairman

    

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

    

    Jesup
      & Lamont Securities Corporation

    650
      Fifth
      Avenue

    New
      York,
      NY 10019

    Attn: Stephen
      J. DeGroat, Chairman

    

    and:

    

    Graubard
      Miller

    The
      Chrysler Building

    405
      Lexington Avenue

    New
      York,
      New York 10174

    Attn: David
      Alan Miller, Esq.

     

    and:

    

    Greenberg
      Traurig, LLP

    Met
      Life
      Building

    200
      Park
      Avenue

    New
      York,
      New York 1016

    Attn: Alan
      I.
      Annex, Esq.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    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 the 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.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

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

    

    ALYST
      ACQUISITION CORP.

    

    

    

    By:
       ______________________________  

     

     

     

    INSIDER
      PURCHASERS:

     

     

     

    

    __________________________________

    DR.
      WILLIAM WEKSEL

    

    

    

    __________________________________

    ROBERT
      A.
      SCHRIESHEIM

    

    

    

    __________________________________

    ROBERT
      H.
      DAVIES

    

    

    

    __________________________________

    MICHAEL
      E. WEKSEL

    

    

    

    __________________________________

    PAUL
      LEVY

    

    

    

    __________________________________

    IRA
      HOLLENBERG IRA

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    

    

    

    __________________________________

    SILVERMAN
      REALTY GROUP, INC. 

    PROFIT
      SHARING PLAN (LCPSP)

    

    

    

    ___________________________________

    NORBERT
      W. STRAUSS

    

    

    

    ___________________________________

    DAVID
      STRAUSS 

    

    

    

    ___________________________________

    JONATHAN
      STRAUSS

     

     

     

    CONTINENTAL
      STOCK TRANSFER

    &
      TRUST COMPANY

    

    

    By:________________________________

    Name:
      

    Title:
      

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    
      	
               

              Name
                and Address of 

              Insider
                Purchaser

            	 	
               

              Number
                

              of
                Warrants

            	 	
               

               

              Warrant
                Number

            	 	
               

              Date
                of 

              Subscription
                Agreement

            
	 	 	 	 	 	 	 
	
              Dr.
                William Weksel

              Alyst
                Acquisition Corp.

              233
                East 69th Street, #6J

              New
                York, New York 10021

            	 	
              227,500

            	 	
              1

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Robert
                A. Schriesheim

              Alyst
                Acquisition Corp.

              233
                East 69th Street, #6J

              New
                York, New York 10021

            	 	
              227,500

            	 	
              2

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Robert
                H. Davies

              Alyst
                Acquisition Corp.

              233
                East 69th Street, #6J

              New
                York, New York 10021

            	 	
              227,500

            	 	
              3

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Michael
                E. Weksel

              Alyst
                Acquisition Corp.

              233
                East 69th Street, #6J

              New
                York, New York 10021

            	 	
              227,500

            	 	
              4

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Paul
                Levy

            	 	
              227,500

            	 	
              5

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Ira
                Hollenberg IRA

            	 	
              227,500

            	 	
              6

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Silverman
                Realty Group, Inc. Profit Sharing Plan (LCPSP)

            	 	
              227,500

            	 	
              7

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Norbert
                W. Strauss

            	 	
              75,834

            	 	
              8

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              David
                Strauss

            	 	
              75,833

            	 	
              9

            	 	
              October
                12, 2006

            
	 	 	 	 	 	 	 
	
              Jonathan
                Strauss

            	 	
              75,833

            	 	
              10

            	 	
              October
                12, 2006

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]