Document:

EXHIBIT 10.6 

[FORM OF ESCROW
AGREEMENT] 

        ESCROW
AGREEMENT, dated as of _____________, 2007 (“Agreement“), by and among HANOVER-STC
ACQUISITION CORP., a Delaware corporation (“Company“),  HANOVER OVERSEAS LIMITED, STC INVESTMENT
HOLDINGS LLC, SOLAR CAPITAL, LLC, DAVID HAWKINS, STEVEN A. SHENFELD, BRADFORD R. PECK,
and JAKAL INVESTMENTS, LLC (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 __________, 2007
(“Underwriting Agreement”), with Citigroup Global Markets Inc. (“Citigroup“) acting as
representative of the several underwriters (collectively, the “Underwriters”), pursuant
to which, the Underwriters have agreed to purchase 18,750,000 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 to purchase one share of Common Stock, all as
more fully described in the Company’s final Prospectus, dated _________, 2007
(“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 ________, 2007 (“Effective Date”).  

        WHEREAS,
the Underwriters have required as a condition to the purchase of the Units that the
Initial Stockholders deposit the number of shares of Common Stock of the Company (the
“Escrow Shares”) and the number of Sponsors’ Warrants (as defined in the Warrant
Agreement dated [_____], 2007 between the Company and [_____] as Warrant Agent (the
“Warrant Agreement”)) in each case, as set forth opposite their respective names in
Exhibit A attached hereto (the Escrow Shares and Sponsors’ Warrants are collectively
referred to herein as the “Escrow Securities”) in escrow as hereinafter provided.  

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

        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 have delivered or caused to be delivered to the Escrow Agent
certificates representing his, her or its respective Escrow Securities, to be held and
disbursed subject to the terms and conditions of this Agreement. Each Initial Stockholder
acknowledges that the certificates representing his, her or its Escrow Securities is
legended to reflect the deposit of such Escrow Securities under this Agreement. 

 
	 	
	 

        3.
Disbursement of the Escrow Securities. The Escrow Agent shall hold the Escrow Shares
until the date that is one year after the consummation of an Initial Business Combination
(as defined in the Warrant Agreement) and the Sponsors’ Warrants until the date that is
30 days after the consummation of an Initial Business Combination (in each case, the
“Escrow Period”), on which date it shall, upon written instructions from each Initial
Stockholder, disburse the Escrow Shares (and any applicable stock power) or Sponsors’
Warrants, as the case may be, 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 then the Escrow Agent shall promptly destroy the certificates
representing the Escrow Securities held pursuant to this Agreement; provided further,
however, that if, after the Company consummates an Initial Business Combination, (i) 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 or (ii) the Closing Price of the Common Stock (as defined in the Warrant
Agreement) equals or exceeds $11.50 per share for any 20 trading days within any
30-trading day period, then the Escrow Agent will, upon receipt of a certificate,
executed by the Chairman of the Board, President or other authorized officer of the
Company, in form reasonably acceptable to the Escrow Agent, that such transaction is then
being consummated or such conditions have been achieved, as applicable, release the
Escrow Shares to the Initial Stockholders. The Escrow Agent shall have no further duties
hereunder after the disbursement or destruction of the Escrow Securities in accordance
with this Section 3. 

        4.
Rights of Initial Stockholders in Escrow Securities. 

        4.1.
Voting Rights as a Stockholder. Subject to the terms of the Insider Letter described in
Section 4.3 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 the Escrow 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.
Insider Letters. Each of the Initial Stockholders has executed a letter agreement with
Citigroup 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 and certain voting and transfer restrictions which will
apply during the Escrow Period. 

        4.4.
Sponsors’ Warrants. The Initial Stockholders acknowledge that the Sponsors’ Warrants are
subject to restrictions on exercise and transfer during the Escrow Period as specified in
the Warrant Agreement. 

 
	 	
2	 

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

        5.3.
Compensation. The Escrow Agent shall be entitled to reasonable compensation from the
Company for all services rendered by it hereunder. 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  

 
	 	
3	 

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 Securities 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 Securities 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 (whether of the State of New York or any other jurisdiction
that would cause the application of the laws of any jurisdiction other than the State of
New York). The Company hereby agrees that any action, proceeding or claim against it
arising out of or relating in any way to this Agreement shall be brought and enforced in
the courts of the State of New York or the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction
shall be exclusive. The Company hereby waives any objection to such exclusive
jurisdiction or that such courts represent an inconvenience forum. Any such process or
summons to be served upon the Company may be served by transmitting a copy thereof by
registered or certified mail, return receipt requested, postage prepaid, addressed to it
at the address set forth in Section 6.6 hereof. Such mailing shall be deemed personal
service and shall be legal and binding upon the Company in any action, proceeding or
claim. 

        6.2.
Third Party Beneficiaries. Each of the Initial Stockholders hereby 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 Citigroup. 

        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 each party hereto. It
may be executed in several original or facsimile counterparts, each one of which shall
constitute an original, and together shall constitute but one instrument 

        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: 

	 	Hanover-STC Acquisition Corp.
                            

590 Madison Avenue
                           

35th Floor 

                           New York, New York 10022
	 

        If
to an Initial Stockholder, to his, her or its 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: 

                          	 	Davis Polk & Wardwell 

                           450 Lexington Avenue 

                           New York, New York 10017
                           

  Atn: Deanna L. Kirkpatrick, Esq.
	 

        and: 

                           	 	Citigroup Global Markets Inc.
                           

  388 Greenwich Street
                           

  New York, New York 10013
                           

  Attn:_____________________  	 

        and: 

                           	 	Akin Gump Strauss Hauer & Feld LLP
                           

  590 Madison Avenue
                           

  New York, New York 10022
                           

  Attn:    Bruce Mendelsohn, 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. 

 
	 	
5	 

        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 an Initial Business Combination within the time period(s) specified in the
Prospectus. 

[SIGNATURE PAGES FOLLOW] 

 
	 	
6	 

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

	 	  	 	  COMPANY:  
	 	 	 	 	 
	 	 	 	HANOVER-STC
ACQUISITION CORP. 
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 
	 	 	 	INITIAL
STOCKHOLDERS: 
	 	 	 	 	 
	 	 	 	
HANOVER OVERSEAS LIMITED 
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 
	 	 	 	STC
INVESTMENT HOLDINGS LLC 
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 
	 	 	 	SOLAR
CAPITAL, LLC 
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 
	 	 	 	__________________________________

      David
Hawkins 
	 	 	 	 
	 	 	 	__________________________________

      Steven
A. Shenfeld 
	 	 	 	 	 
	 	 	 	__________________________________

      Bradford
R. Peck 

 
	 	
S-1	 

	 	 	 	JAKAL
INVESTMENTS, LLC
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 
	 	 	 	ESCROW
AGENT:
	 	 	 	 	 
	 	 	 	CONTINENTAL
STOCK TRANSFER & TRUST 

      COMPANY
	 	 	 	 	 
	 	 	 	By:         _____________________________

                                                                                                      Name:  _____________________________

                                                                                                    Title:    _____________________________
	 	 	 	 	 

 
	 	
S-2	 

	Name and Address 

  of Initial Stockholder

      

      	Number of 

  Escrow

  Shares 

      

      	Stock 

  Certificate 

  Number 

      

      	Date of 

             Insider 

  Letter

      

      	Number of 

             Sponsors’ 

  Warrants

      

      	Warrant 

          Certificate 

  Number 

      

      
	

       Hanover Overseas Limited

        _________________________

        _________________________

        _________________________

                

    	

      1,757,813

    	

       

    	

       

    	

      1,000,000

    	

       

    
	 	 	 	 	 	 
	

      STC
  Investment Holdings LLC

        _________________________

        _________________________

        _________________________

        

    	

      1,757,813

    	

       

    	

       

    	

      1,000,000

    	

       

    
	 	 	 	 	 	 
	

      Solar Capital, LLC

        _________________________

        _________________________

        _________________________

        

    	

      585,938

    	

       

    	

       

    	

      500,000

    	

       

    
	

      David Hawkins

        _________________________

        _________________________

        _________________________

        

    	

      23,438

    	

       

    	

       

    	

       

    	

       

    
	 	 	 	 	 	 
	

      Steven Shenfeld

        _________________________

        _________________________

        _________________________

                   

    	

      70,313

    	

       

    	

       

    	

      250,000

    	

       

    
	 	 	 	 	 	 
	

      Bradford R. Peck

        _________________________

        _________________________

        _________________________

                   

    	

      23,438

    	

       

    	

       

    	

       

    	

       

    
	 	 	 	 	 	 
	

      Jakal Investments, LLC 

        _________________________

        _________________________

        _________________________

        

    	

      468,747

    	

       

    	

       

    	

      500,000EXHIBIT 10.9 

HANOVER-STC ACQUISITION
CORP. 

SPONSORS’ WARRANTS
SECURITIES PURCHASE AGREEMENT 

        THIS
SPONSORS’ WARRANTS SECURITIES PURCHASE AGREEMENT (as it may from time to time be amended
and including all exhibits referenced herein, this “Agreement“), dated as of March 23,
2007, is entered into by and among Hanover-STC Acquisition Corp, a Delaware corporation
(the “Company“) and the purchasers listed in Schedule A hereto (each a “Purchaser“ and
collectively, the “Purchasers“).  

        WHEREAS,
the Company intends to file a registration statement on Form S-1 with the Securities and
Exchange Commission (the “Registration Statement”) in connection with the proposed
initial public offering of the Company’s units (the “Initial Public Offering”), each unit
consisting of one share of the Company’s common stock, par value $0.0001 per share (a
“Share“), and one warrant to purchase one Share at an exercise price of $6.00 per Share;  

        WHEREAS,
concurrently with the sale of units in the Initial Public Offering, the Company desires
to issue and sell and the Purchasers desire to purchase, in the respective amounts set
forth opposite each Purchaser’s name on Schedule A hereto and upon the terms and
conditions set forth in this Agreement, an aggregate of 3,250,000 warrants (the
“Sponsors’ Warrants”), each Sponsors’ Warrant entitling the holder to purchase one Share
at an exercise price of $6.00 per Share.  

        WHEREAS,
pursuant to the terms of the Warrant Agreement to be entered into by the Company and
[_____], as Warrant Agent, on or prior to the effective date of the Registration
Statement substantially in the form attached as Exhibit A hereto (the “Warrant
Agreement”), upon issuance, the Sponsors’ Warrants will be deposited with [_____], as
escrow agent (the “Escrow Agent”) under the Escrow Agreement to be entered into by the
Initial Stockholders (as defined therein) and the Company on or prior to the effective
date of the Registration Statement, substantially in the form attached as Exhibit B
hereto (the “Escrow Agreement”) until the Transfer Restriction Termination Date.  

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

AGREEMENT  

Section 1.
Authorization, Purchase and Sale; Terms of the Sponsors’ Warrants. 

        A.
Authorization of the Sponsors’ Warrants. The Company has duly authorized the issuance and
sale to the Purchasers of the Sponsors’ Warrants. 

        B.
Purchase and Sale of the Sponsors’ Warrants. Immediately prior to the effective date of
the Registration Statement, or on such earlier date as may be established from time to
time by mutual agreement of the parties (in each case, the “Closing Date”), the Company
shall issue and sell to the Purchasers, and the Purchasers shall purchase from the
Company, the respective number of Sponsors’ Warrants set forth opposite each Purchaser’s
name on Schedule A hereto. The purchase price for each Sponsors’ Warrant shall be $1.00
per warrant, for an aggregate purchase price of $3,250,000 (the “Purchase Price”), which
shall be paid by wire transfer of immediately available funds to the Company in
accordance with the Company’s wiring instructions. On the Closing Date, upon the payment
by the Purchasers of the Purchase Price by wire transfer of immediately available funds
to the Company, the Company shall deliver certificates evidencing the Sponsors’ Warrants
to be purchased by the Purchasers hereunder, registered in the Purchasers’ respective
names to the Escrow Agent for deposit pursuant to the Escrow Agreement.  

 
	 	
	 

        C.
Terms of the Sponsors’ Warrants. 

        (i)
Each Sponsors’ Warrant shall have the terms set forth in the Warrant Agreement. 

        (ii)
Transfer Restrictions: In addition to the restrictions on transfer set forth in Section 9
hereof, each of the Purchasers acknowledges that the Sponsors’ Warrants and the Shares
issuable upon exercise of the Sponsors’ Warrants are subject to the restrictions on
transfer and exercise set forth in the Warrant Agreement and will be deposited with the
Escrow Agent pursuant to the Escrow Agreement until the Transfer Restriction Termination
Date. 

        (iii)
Registration Rights: In connection with the closing of the Initial Public Offering, the
Company and the Purchasers shall enter into an agreement (the “Registration Rights
Agreement”) granting the Purchasers registration rights with respect to Sponsors’
Warrants and the Shares underlying the Sponsors’ Warrants. 

Section 2.
Representations and Warranties of the Company. 

        As
a material inducement to the Purchasers to enter into this Agreement and purchase the
Sponsors’ Warrants, the Company hereby represents and warrants to the Purchasers (which
representations and warranties shall survive the Closing Date) that: 

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

        B.
Authorization; No Breach. 

        (i)
The execution, delivery and performance of this Agreement, the Warrant Agreement and the
Sponsors’ Warrants have been duly authorized by the Company as of the Closing Date. This
Agreement constitutes the valid and binding obligation of the Company, enforceable in
accordance with its terms. The Warrant Agreement, and upon issuance in accordance with,
and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the
Sponsors’ Warrants, constitute valid and binding obligations of the Company, enforceable
in accordance with their respective terms as of the Closing Date. 

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

        C.
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms
hereof and the Warrant Agreement, the Shares issuable upon exercise of the Sponsors’
Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance in
accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the
Purchasers will have good title to the Sponsors’ Warrants and the Shares issuable upon
exercise of such Sponsors’ Warrants, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other
agreements contemplated hereby, (ii) transfer restrictions under 

 
	 	
2	 

federal and state securities laws,
and (iii) liens, claims or encumbrances imposed due to the actions of the applicable
Purchaser. 

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

Section 3.
Representations and Warranties of the Purchasers. 

        As
a material inducement to the Company to enter into this Agreement and issue and sell the
Sponsors’ Warrants to the Purchasers, the Purchasers, severally and not jointly, hereby
represent and warrant to the Company (which representations and warranties shall survive
the Closing Date) that: 

        A.
Capacity and State Law Compliance. The Purchaser has the legal capacity to execute and
perform the obligations imposed on the Purchaser hereunder. The Purchaser has engaged in
the transactions contemplated by this Agreement within a state in which the offer and
sale of the Sponsors’ Warrants is permitted under applicable securities laws. The
Purchaser understands and acknowledges that the purchase of Shares upon the exercise of
the Sponsors’ Warrants will require the availability of an exemption from registration
under federal and/or state securities laws and that any sale of such Shares shall require
registration or the availability of an exemption from registration under federal and/or
state securities laws. 

        B.
Authorization; No Breach. 

        (i)
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable
in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other laws of general applicability relating to or
affecting creditors’ rights and to general equitable principles (whether considered in a
proceeding in equity or law). 

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

        C.
Investment Representations. 

        (i)
The Purchaser is acquiring the Sponsors’ Warrants and, upon exercise of the Sponsors’
Warrants, the Shares issuable upon such exercise (collectively, the “Securities“) for its
own account, for investment purposes only and not with a view towards, or for resale in
connection with, any public sale or distribution thereof.  

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

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

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

 
	 	
3	 

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

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

        (vii)
The Purchaser understands that: (a) the Securities have not been and are not being
registered under the Securities Act or any state securities laws, and may not be offered
for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or
(2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth
in the Registration Rights Agreement, neither the Company nor any other person is under
any obligation to register the Securities under the Securities Act or any state
securities laws or to comply with the terms and conditions of any exemption thereunder.
In this regard, the Purchaser understands that the Securities and Exchange Commission has
taken the position that promoters or affiliates of a blank check company and their
transferees, both before and after a Business Combination, are deemed to be
“underwriters” under the Securities Act when reselling the securities of a blank check
company. Based on that position, Rule 144 adopted pursuant to the Securities Act would
not be available for resale transactions of the Securities despite technical compliance
with the requirements of such Rule, and the Securities can be resold only through a
registered offering or in reliance upon another exemption from the registration
requirements of the Securities Act. The Purchaser is able to bear the economic risk of
its investment in the Securities for an indefinite period of time. 

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

Section 4. Conditions
of the Purchasers’ Obligations. 

        The
obligation of the Purchaser to purchase and pay for the Sponsors’ Warrants is subject to
the fulfillment, on or before the Closing Date, of each of the following conditions: 

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

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

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

Section 5. Conditions
of the Company’s Obligations. 

 
	 	
4	 

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

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

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

        C.
Corporate Consents. The Company shall have obtained the consent of its Board of Directors
authorizing the execution, delivery and performance of this Agreement and the Warrant
Agreement and the issuance and sale of the Sponsors’ Warrants hereunder. 

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

Section 6. Termination. 

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

Section 7. Survival of
Representations and Warranties. 

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

Section 8. Definitions. 

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

Section 9.
Miscellaneous. 

        A.
Legends. 

        (i)
The certificates evidencing the Sponsors’ Warrants and Shares issued upon exercise of any
Sponsors’ Warrants will include the legend set forth in Exhibit B to the Warrant
Agreement. 

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

        (a)
there is then in effect a registration statement under the Securities Act covering such
proposed disposition and such disposition is made in accordance with such registration
statement, in which case the legends set forth above with respect to the Securities sold
pursuant to such registration statement shall be removed; or 

 
	 	
5	 

        (b)
if reasonably requested by the Company, (A) the Purchaser shall have furnished the 

        Company
with an opinion of counsel, reasonably satisfactory to the Company, that such disposition
will not require registration of such Securities under the Securities Act or applicable
state securities laws, (B) the Company shall have received customary representations and
warranties regarding the transferee that are reasonably satisfactory to the Company
signed by the proposed transferee and (C) the Company shall have received an agreement by
such transferee to the restrictions contained in the legends referred to in (i) hereof.
Notwithstanding the foregoing, each of the Purchasers also understands and acknowledges
that the transfer and exercise, as the case may be, of the Sponsors’ Warrants is subject
to the specific conditions to such transfer or exercise as outlined herein and the
Warrant Agreement, as to which each of the Purchasers specifically assents by its
execution hereof. 

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

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

        C.
Severability. Whenever possible, each provision of this Agreement shall be interpreted in
such manner as to be effective and valid under applicable law, but if any provision of
this Agreement is held to be prohibited by or invalid under applicable law, such
provision shall be ineffective only to the extent of such prohibition or invalidity,
without invalidating the remainder of this Agreement. 

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

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

        F.
Governing Law. This Agreement shall be deemed to be a contract made under the laws of the
State of New York and for all purposes shall be construed in accordance with the internal
laws of the State of New York. The parties agree that, all actions and proceedings
arising out of this Agreement or any of the transactions contemplated hereby, shall be
brought in the United States District Court for the Southern District of New York or in a
New York State Court in the County of New York and that, in connection with any such
action or proceeding, submit to the jurisdiction of, and venue in, such court. Each of
the parties hereto also irrevocably waives all right to trial by jury in any action,
proceeding or counterclaim arising out of, connected with or relating to this Agreement
or the transactions contemplated hereby. 

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

        If
to the Company: 

	 	Hanover-STC Acquisition Corp. 

         590 Madison Avenue 

         35th Floor 

         New York, New York 10022
         

  Facsimile:  [______________]
	 

 
	 	
6	 

	 	With a copy to:
         

  Akin Gump Strauss Hauer & Feld LLP
         

  590 Madison Avenue
        

   New York, New York 10022
         

  Attn: Bruce Mendelsohn, Esq.
         

  Facsimile: (212) 872-1002
	 

	  	
If
to a Purchaser, to the address set below such Purchaser’s name on          the signature
pages hereto, or to such other address or to the          attention of such other person
as such Purchaser has specified by prior          written notice to the sending party. 

        H.
No Strict Construction. The parties hereto have participated jointly in the negotiation
and drafting of this Agreement. In the event an ambiguity or question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring
any party by virtue of the authorship of any of the provisions of this Agreement. 

[SIGNATURE PAGES
FOLLOW] 

 
	 	
7	 

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

	 	  	 	COMPANY:    
	 	 	 	 	 
	 	 	 	Hanover-STC
Acquisition Corp. 
	 	 	 	 	 
	 	 	 	By:
/s/ Mark Klein
      

      Name:
Mark D. Klein 

                                                                       Title: Chief
Executive Officer
                                                                                       
	 	 	 	 	 
	 	 		PURCHASERS: 	 
	 	 	 	 	 
	 	 	 	
Hanover Overseas Limited 	 
	 	 	 	 	 
	 	 	 	By: /s/ Lisabeth Style
      

      
                                                                                                      Name:  Lisabeth Style

                                                                                                    Title:  Director 	 
	 	 	 	 	 
	 	 	 	Mailing
Address: 	 
	 	 	 	 	 
	 	 	 	
       

      

      

      

          	 
	 	 	 	 	 
	 	 	 	STC
Investment Holdings LLC 	 
	 	 	 	 	 
	 	 	 	By:
/s/ William Sheoris 

       
      

      Name:
William J. Sheoris 

                                                                       Title: Chief
Financial Officer  
	 	 	 	 	 
	 	 	 	Mailing
Address: 	 
	 	 	 	 	 
	 	 	 	
       

      

      

      

    	 
	 	 	 	 	 
	 	 	 	Solar
Capital, LLC 	 
	 	 	 	 	 
	 	 	 	By:
/s/ Michael Gross 
      

      Name:
Michael S. Gross 

                                                                       Title: Chief
Financial Officer
	 	 	 	 	 
	 	 	 	Mailing
Address: 	 
	 	 	 	 	 
	 	 	 	
       

      

      

      

    	 

Signature Page to
STC-Hanover Acquisition Corp. Securities Purchase Agreement 

 
	 	
	 

	 	 	 	Jakal
Investments, LLC 
	 	 	 	 	 
	 	 	 	By:
/s/ Paul Lapping
                                                                                      

      
      

      Name:
Paul D. 

       Lapping
                                                                       Title: Manager
	 	 	 	 	 
	 	 	 	Mailing
Address: 	 
	 	  	 	  	 
	 	 	 	________________________ 

      ________________________ 

      ________________________
	 
	 	 	 	 	 
	 	 	 	/s/
Steven Shenfeld
      

      Steven
A. Shenfeld 
    
	 	 	 	 	 
	 	 	 	Mailing
Address: 	 
	 	 	 	 	 
	 	 	 	________________________ 

      ________________________ 

      ________________________
	 

Signature Page to
STC-Hanover Acquisition Corp. Securities Purchase Agreement 

 
	 	
	 

Schedule A 

	Purchaser:
      
      

    		Sponsors’ Warrants

Purchased:
      
      

    	Purchase Price of

Sponsors’ Warrants:
      
      

    
	 Hanover Overseas Limited	 	1,000,000	 	$1,000,000	 
	 	 	 	 	 	 
	STC Investment Holdings LLC	 	1,000,000	 	$1,000,000	 
	 	 	 	 	 	 
	Solar Capital, LLC	 	500,000	 	$   500,000	 
	 	 	 	 	 	 
	Jakal Investments, LLC	 	500,000	 	$   500,000	 
	 	 	 	 	 	 
	Steven A. Shenfeld	 	250,000	 	$   250,000	 
	 	 	
      

    	 	
      

    	 
	                Total	 	3,250,000	 	$3,250,000	 

 
	 	
Schedule
A 	 

Exhibit A  

FORM OF WARRANT
AGREEMENT 

(Attached) 

 
	 	
Schedule
A 	 

Exhibit B  

FORM OF ESCROW AGREEMENT 

(Attached) 

 
	 	
Schedule
A

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