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Exhibit 10.8  

 
 

FORM OF STOCK ESCROW AGREEMENT    
    

        This STOCK ESCROW AGREEMENT, dated as of                        ,
2006 ("Agreement"), is by and among TALIERA CORPORATION,
a Delaware corporation ("Company"), TALIERA HOLDINGS, LLC, Martin Frost, Michael V. Cheek
and                        (collectively, the
"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 Morgan
Joseph & Co. Inc. ("MJ"), pursuant to which, among other matters, MJ has agreed to purchase 7,500,000 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. 333-136097) 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 1,875,000 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. 

        NOW,
THEREFORE, the parties agree as follows: 

	1.
	For
purposes of this Agreement:

	(a)
	"Business Combination" shall mean a merger, capital stock exchange, asset or stock acquisition or other similar business combination
with one or more operating businesses.

	(b)
	"Release Date" shall mean the earliest to occur of: (a) twelve (12) months following the closing of a Business
Combination by the Company; or (b) the Sale Date; and (c) the Trust Account Liquidation Date.

	(c)
	"Sale Date" shall mean the date that a Stockholder Liquidation Event occurs.

	(d)
	"Stockholder Liquidation Event" shall mean any of the following events that occurs subsequent to the closing of a Business Combination:
(i) a liquidation, merger, stock exchange or similar transaction involving the Company (or successor to the Company) which results in all of the Company's stockholders having the right to
exchange their Common Stock for cash, securities or other property; or (ii) the liquidation of the Company.

	(e)
	"Trust Account" shall mean a trust account at Smith Barney, a division of Citigroup Global Markets, Inc., maintained by
Continental Stock Transfer & Trust Company, acting as trustee.

	(f)
	"Trust Account Liquidation Date" shall mean the date prior to the completion of a Business Combination that the Trust Account is
liquidated pursuant to the terms of that certain Trust Agreement and the funds in the Trust Account are distributed to the beneficial owners of the Trust Account. 

        2.     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. 

        3.     Deposit of Escrow Shares.    On or before the Effective Date, each of the Initial Stockholders shall deliver to
the Escrow Agent certificates representing his or its 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 or its Escrow Shares is legended to reflect the deposit of such Escrow Shares under this Agreement. 

        4.     Disbursement of the Escrow Shares. 

	(a)
	The
Escrow Agent shall hold the Escrow Shares until the Release Date, 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 of a
Trust Account Liquidation Date, then the Escrow Agent shall promptly destroy the certificates representing the 

 

Escrow
Shares. The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow Shares in accordance with this  Section 4. 

	(b)
	The
Escrow Agent shall rely upon a certificate (the "Officer's Certificate"), executed by the Chief Executive Officer or Chief
Financial Officer of the Company, in form reasonably acceptable to the Escrow Agent, that certifies that the Release Date has occurred, and shall not be required to disburse the Escrow Shares unless
and until it receives the Officer's Certificate. 

        5.     Rights of Initial Stockholders in Escrow Shares. 

        5.1.  Voting Rights as a Stockholder.    Subject to the terms of the Insider Letter described in  Section 5.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as stockholders of the Company with
respect to the Escrow Shares during the Escrow Period, including, without limitation, the right to vote such shares. 

        5.2.  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. 

        5.3.  Restrictions on Transfer.    During the Escrow Period, the Initial Stockholders agree not to sell, transfer or
otherwise dispose of any or all of the Escrow Shares except (i) to its members (and the Escrow Shares may then subsequently be transferred by such members to their ancestors, descendants or
spouse or to trusts established for the benefit of such persons or the member) or (ii) 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. 

        5.4.  Insider Letters.    Each of the Initial Stockholders has executed a letter agreement with MJ and the Company,
dated as indicated on Exhibit A hereto, and which is filed as an exhibit to the Registration Statement (collectively,
the "Insider Letter"), respecting the rights and obligations of such Initial Stockholder in certain events, including but not limited to the liquidation
of the Company. 

        6.     Concerning the Escrow Agent. 

        6.1.  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. 

        6.2.  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
negligence, willful misconduct or bad faith 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 

2

 

provisions
of this Section 6.2 shall survive in the event the Escrow Agent resigns or is discharged pursuant to Sections
6.5 or 6.6 below. 

        6.3.  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 reasonable out-of-pocket 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. 

        6.4.  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. 

        6.5.  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 sixty (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. 

        6.6.  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 6.5. 

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

        7.     Miscellaneous. 

        7.1.  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. 

        7.2.  Intentionally Omitted. 

        7.3.  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. 

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

        7.5.  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. 

        7.6.  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: 

Taliera
Corporation

250 East 96th Street, Suite 415

Indianapolis, Indiana 46240

Attn: J. Smoke Wallin, Chief Executive Officer 

If
to an Initial Stockholder, to his or its address as set forth in Exhibit A. 

3

 

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: 

Ice
Miller LLP

One American Square

Suite 3100

Indianapolis, Indiana 46282-0200

Attn: Joseph E. DeGroff, Esq. 

and: 

Morgan
Joseph & Co. Inc.

600 Fifth Avenue, 19th Floor

New York, New York 10020

Attn: Michael Powell 

and:

Graubard
Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, 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. 

        7.7.  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. 

*
* * * * * * * * * * * 

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

	 	 	TALIERA CORPORATION
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

INITIAL STOCKHOLDERS:
	

 	
 	

	 	 	Taliera Holdings, LLC
	

 	
 	

	 	 	Martin Frost
	

 	
 	

	 	 	Michael V. Cheek
	

 	
 	

	 	 	[Independent Director]
	

 	
 	

CONTINENTAL STOCK TRANSFER

& TRUST COMPANY
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	 	 	Name:
	 	 	 	 	Title:

4

 
 

EXHIBIT A    
    

	Name and Address of

Initial Stockholders
	 	Number

of Shares
	 	Stock

Certificate Number
	 	Date of

Insider Letter

	

Taliera Holdings, LLC	
 	

1,818,750	
 	

	
 	

	

Martin Frost	
 	

18,750	
 	

	
 	

	

Michael V. Cheek	
 	

18,750	
 	

	
 	

	
[Independent Director]	
 	

[18,750]	
 	

	
 	

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FORM OF STOCK ESCROW AGREEMENT

EXHIBIT AExhibit 10.9  

Taliera
Corporation

                                     ,
2006 

eSkye
Solutions, Inc.

250 E. 96th Street

Suite 415

Indianapolis, IN 46240 

Gentlemen:

        This
letter will confirm our agreement that, commencing on the effective date ("Effective Date") of the registration statement for the
initial public offering ("IPO") of the securities of Taliera Corporation (the "Company") and continuing
until the consummation by the Company of a "Business Combination" (as described in the Company's IPO prospectus), eSkye Solutions, Inc. shall
make available to the Company certain limited administrative, technology and secretarial services, as well as the use of certain limited office space, as may be required by the Company from time to
time, situated at 250 E. 96thStreet, Suite 415, Indianapolis, IN 46240 (or any successor location). In exchange therefore, the Company shall pay eSkye Solutions, Inc. the sum of
$7,500 per month on the Effective Date and continuing monthly thereafter. 

	

 	

 	
 	

Very truly yours,
	

 	

 	
 	
TALIERA CORPORATION
	

 	

 	
 	

By:	

    

	 	 	 	Name:	By:    

	 	 	 	Title:	By:    

	

AGREED TO AND ACCEPTED BY:	
 	

 	

 
	
ESKYE Solutions, Inc.	
 	

 	

 
	By:	    
	 	 	 
	Name:	    
	 	 	 
	Title:

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