Exhibit
10.1


 


SELLER
SUPPORT Agreement


 


This
SELLER SUPPORT AGREEMENT (this “Agreement”) is made as of November 16, 2022, by and among Supraeon Investments
Limited, a private limited liability company organized and existing under the Laws of the Republic of Cyprus (the “Company”),
Sagaliam Acquisition Corp., a Delaware corporation (“Sagaliam”), and GLD Partners, LP, a Delaware limited
partnership (“Seller”). The Company, Sagaliam, and Seller are each sometimes referred to in this Agreement
as a “Party,” and collectively as the “Parties.” Capitalized terms used and not defined herein
have the respective meanings ascribed to them in the BCA (as defined below).


 


WHEREAS,
Allenby Montefiore Limited, a private company limited by shares organized and existing under the Laws of the Republic of Cyprus
(“ PubCo”), Sagaliam, the Company, AEC Merger Sub Corp. (“PubCo Merger Sub”), and Seller
are party to that certain Business Combination Agreement, dated
as of the date hereof (as it may be amended, supplemented or restated from time to time in accordance with the terms of such agreement
(the “BCA”), pursuant to which, among other things, the Company will be contributed to PubCo (the “Share
Exchange”), and PubCo Merger Sub will merge with and into Sagaliam, with Sagaliam continuing as the surviving corporation and
becoming thereby a wholly-owned subsidiary of PubCo (the “Merger”).


 


WHEREAS,
as of the date hereof, Seller is the record or beneficial owner (within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934, as amended, which meaning will apply for all purposes of this Agreement whenever the term “beneficial owner” or “beneficially
own” is used) of all of the issued and outstanding equity securities of the Company (collectively the “Seller Shares”);
and


 


WHEREAS,
as an inducement to and in consideration of Sagaliam’s willingness to enter into the BCA, and having reviewed the BCA and the terms
of the Share Exchange and the Merger, Seller has agreed to enter into this Agreement.


 


NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree as follows:


 


Section
1. Execution of Written Consent; Voting of Seller Shares.


 


(a) Following
the execution of this Agreement and no later than forty-eight (48) hours following receipt of written notice from Sagaliam that the Registration
Statement / Proxy Statement has been declared effective by the SEC, Seller shall execute and deliver to Sagaliam the Written Consent,
agreeing to adopt and approve the BCA, the Share Exchange, the Merger and the other transactions contemplated by the BCA, in accordance
with the Laws of the Republic of Cyprus and the Company Organizational Documents, which consent will become effective by its terms immediately
after the execution of the BCA by the parties thereto.


 


(b) During
the period commencing on the date hereof and ending on the earlier of the Closing and the valid termination of the BCA pursuant to Article
X thereof, Seller shall:


 


(i) not
form a group to vote against any directors nominated by the Company and/or Sponsor;


 




    	 



    	 



    

 


(ii) not
approve any measures that would materially impede the Transactions or any other transaction proposal;


 


(iii) take,
or cause to be taken, all actions necessary or advisable to consummate and make effective the transactions contemplated by the BCA, including
(A) consenting to the approval and adoption of the BCA and the transactions contemplated by the BCA, and in any action by written consent
of Seller in its capacity as the sole shareholder of the Company as described above in Section 1(a), (B) not consenting to any
Company Acquisition Proposal, or any merger agreement, merger, consolidation, combination, sale of substantial assets, reorganization
recapitalization, dissolution, liquidation or winding up of or by the Company (other than the BCA and the transactions contemplated thereby),
and (C) not consenting to any action, proposal, transaction, or agreement that could prevent, delay, or adversely affect, impede or interfere
with the consummation of the Share Exchange, the Merger or any of the other transactions contemplated by the BCA or the Ancillary Agreements,
the satisfaction of any conditions to Closing contained in the BCA or any provision of this Agreement; and


 


(iv) not
commit or agree to take any action inconsistent with any of the foregoing.


 


(c) Any
equity securities of Sagaliam or the Company that Seller acquires after the date of this Agreement, including by reason of any stock
split, stock dividend (including any dividend or distribution of securities convertible into capital stock), reorganization, recapitalization,
reclassification, combination, exchange of shares, or other similar transaction, shall be deemed to be Seller Shares for purposes of
this Agreement and shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted Seller Shares
on the date of this Agreement.


 


(d) Seller
acknowledges receipt and review of a copy of the BCA.


 


Section
2. Representations and Warranties of Sellers. Seller represents and warrants to Sagaliam as follows:


 


(a) Organization
and Authorization. Seller is validly existing and in good standing under the Laws of the Republic of Cyprus. Seller has all requisite
private limited company power and authority to execute, deliver, and perform this Agreement and to consummate the transactions contemplated
by this Agreement. The execution, delivery, and performance by Seller of this Agreement and the consummation by Seller of the transactions
contemplated by this Agreement have been validly authorized by all necessary action by Seller and, if applicable, the holders of its
equity securities. Seller has validly executed and delivered this Agreement. This Agreement constitutes a legal, valid, and binding obligation
of Seller, enforceable against Sponsor in accordance with its terms, subject to the Remedies Exceptions.


 


(b) Ownership
of Seller Shares. Seller owns, beneficially and of record, and has good and valid title to the Seller Shares held by Seller, free
and clear of any Lien (other than restrictions on transfer imposed under applicable securities Laws). Other than the Seller Shares, Seller
does not own any equity securities of the Company that provide Seller with any voting rights. Seller agrees that any equity securities
of the Company or Sagaliam acquired after the date hereof shall be deemed the Seller Shares for all purposes of this Agreement, and subject
to the terms of this Agreement, including the voting provisions contained in Section 1. There are no outstanding options, warrants,
rights, calls, convertible securities, or other Contracts obligating Seller to transfer or sell or redeem any equity securities of the
Company, including the Seller Shares. Except for this Agreement, there are no voting trusts, shareholder agreements, proxies, or other
Contracts or understandings in effect to which Seller is a party with respect to the voting or transfer of any of the stock of the Company.


 




    	 



    	 



    

 


(c) Governmental
Consents; No Conflicts.


 


(i) The
execution, delivery, and performance by Seller of this Agreement, and the consummation by Seller of the transactions contemplated by
this Agreement , do not and will not require any consent of or with any Governmental Authority, other than (x) any consent the failure
of which to be obtained would not prevent or delay the consummation by Seller of the transactions contemplated by this Agreement and
(y) any consent that is required as a result of any facts or circumstances relating solely to the Company or any of its affiliates (the
term affiliates as used herein has the meaning given to it in the BCA).


 


(ii) The
execution, delivery, and performance by Seller of this Agreement, and the consummation by Seller of the transactions contemplated by
this Agreement, do not and will not violate, conflict with, result in a breach, cancellation, or termination of, constitute a default
under, result in the creation of any Lien on any of the Seller Shares under, or result in a circumstance that, with or without notice
or lapse of time or both, would constitute any of the foregoing under (A) any Law or order applicable to or binding on Seller or Seller’s
properties or assets, including the Seller Shares, (B) any Contract to which any Seller is a party or by which Seller or any of Seller’s
properties or assets, including the Seller Shares, is bound, (C) any Permit held by Seller, or (D) any of the organizational documents
of Seller, except, in the case of each of clauses (A), (B) and (C), where such violation, conflict, breach, cancellation,
termination, or default would not, individually or in the aggregate, prevent or delay the consummation by Seller of the transactions
contemplated by this Agreement.


 


(d) Proceedings.
There are no actions, proceedings or investigations pending or, to Seller’s knowledge, threatened by or against Seller or any of
its affiliates with respect to this Agreement or the transactions contemplated by this Agreement or that, if determined adversely to
Seller, would prevent or delay the consummation by Seller of the transactions contemplated by this Agreement.


 


(e) Informed
Consent; Reliance. Seller has received and reviewed the BCA and this Agreement, has had an opportunity to obtain the advice of counsel
prior to executing this Agreement, and fully understands, accepts, and agrees to comply with all of the provisions of this Agreement.
Seller acknowledges that Supraeon is entering into the BCA in reliance upon Seller’s execution, delivery, and performance of this
Agreement.


 




    	 



    	 



    

 


Section
3. Additional Agreements Relating to BCA and the Merger.


 


(a) Restrictions
Regarding the Seller Shares. From the date of this Agreement until the Merger Effective Time, without the prior written consent of
Sagaliam, Seller shall not, directly or indirectly, (i) offer to sell, sell, assign, transfer (including by operation of law), or otherwise
dispose of, or incur any Lien on, any of the Seller Shares, (ii) deposit any of the Seller Shares into a voting trust, enter into any
voting agreement, shareholder agreement, or other Contract or understanding with respect to any of the Seller Shares, or grant any proxy
or power of attorney with respect thereto, (iii) enter into any Contract, option, or other arrangement or undertaking with respect to
the direct or indirect sale, assignment, transfer (including by operation of law), or other disposition of, transfer of any interest
in, or the voting of any of the Seller Shares, or (iv) agree to do, approve, or authorize any of the foregoing.


 


(b) Trading
Standstill. Seller agrees that it shall not, without Sagaliam’s prior written consent, directly or indirectly, sell, assign,
transfer or otherwise dispose of any shares of Sagaliam Class A Common Stock at any time between the date of this Agreement and the earlier
of (a) the expiration of the Redemption Rights pursuant to the Sagaliam Certificate of Incorporation, or (b) the termination of this
Agreement in accordance with its terms.


 


(c) Exclusivity.
From the date of this Agreement until the earlier to occur of the Merger Effective Time and the termination of the BCA, Seller shall
not, and shall cause its Representatives not to, (i) initiate, solicit, knowingly facilitate or knowingly encourage the submission of
any proposal or offer from any other Person relating to a Company Acquisition Proposal, (ii) participate in or continue any activities,
discussions, or negotiations regarding a Company Acquisition Proposal, or (iii) provide Confidential Information regarding the Company
or the Company’s business to, or enter into or agree to enter into any Contract with, any Person, other than Sagaliam and its Representatives,
relating to a Company Acquisition Proposal. The Company shall, and shall instruct and cause each of its Representatives, to immediately
cease any solicitations, discussions or negotiations with any person (other than the Parties and their respective Representatives) in
connection with a Company Acquisition Proposal. The Company shall notify Sagaliam promptly (but in no event later than one (1) Business
Day) after receipt of any Company Acquisition Proposal or any proposal, offer or inquiry regarding a Company Acquisition Proposal, and
describe the material terms and conditions of any such proposal, offer or inquiry.


 


(d) Publicity.
Seller will not make any press release or other public disclosure or announcement related to or regarding this Agreement, the BCA or
the transactions contemplated in the BCA, its or their contents, or the transactions contemplated by this Agreement or the BCA without
the written consent of Sagaliam, in any case, as to the form, content, and timing and manner of distribution or publication of such press
release or other public disclosure. Except as may otherwise be required by Law, including any court order or legal process, or the rules
of a national securities exchange, Seller shall hold confidential the terms and provisions of this Agreement, the BCA and the terms of
the transactions contemplated by this Agreement and the BCA until such information is otherwise publicly disclosed without a breach by
Seller of the terms of this Section 3(d).


 




    	 



    	 



    

 


Section
4. Termination. This Agreement will automatically terminate if the BCA is terminated for any reason in accordance with its terms;
provided, however, that (a) Section 3(e), this Section 4, Section 5, Section 6 and Section
7 will survive such termination and (b) no such termination shall relieve Seller from liability for any fraud, intentional misrepresentation,
or intentional or willful breach of this Agreement by a Seller prior to such termination.


 


Section
5. Remedies. Seller acknowledges that (a) money damages may be an insufficient remedy for any actual or threatened breach of this
Agreement by Seller, (b) any such breach may cause Sagaliam irreparable harm, and (c) in addition to any other remedies available at
law or in equity, Sagaliam will be entitled to seek equitable relief by way of injunction, specific performance, or otherwise, without
posting any bond or other undertaking, for any actual or threatened breach of this Agreement by Seller.


 


Section
6. Claims Against Trust Account. Seller agrees that, notwithstanding any other provision contained in this Agreement, Seller does
not now have, and shall not at any time prior to the Merger Effective Time have, any claim to, or make any claim against, the Trust Fund,
regardless of whether such claim arises as a result of, in connection with or relating in any way to, the business relationship between
Seller on the one hand, and Sagaliam on the other hand, this Agreement, or any other agreement or any other matter, and regardless of
whether such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively
referred to in this Section 6 as the “Claims”). Notwithstanding any other provision contained in this Agreement,
Seller hereby irrevocably waives any Claim it may have, now or in the future and will not seek recourse against the Trust Fund for any
reason whatsoever in respect thereof; provided, however, that the foregoing waiver will not limit or prohibit Seller from
pursuing a claim against Sagaliam or any other person (a) for legal relief against monies or other assets of Sagaliam held outside of
the Trust Account or for specific performance or other equitable relief in connection with the Transactions or (b) for damages for breach
of this Agreement against Sagaliam (or any successor entity) in the event this Agreement is terminated for any reason and Sagaliam consummates
a business combination transaction with another party. In the event that Seller commences any action or proceeding against or involving
the Trust Fund in violation of the foregoing, Sagaliam shall be entitled to recover from Seller the associated reasonable legal fees
and costs in connection with any such action, in the event Sagaliam prevails in such action or proceeding.


 


Section
7. Miscellaneous.


 


(a) Further
Assurances. Upon the request of Sagaliam or the Company, Seller shall execute and deliver such further documents and other instruments
as may be reasonably requested by Sagaliam or the Company in order to evidence and effectuate the transactions contemplated by this Agreement.


 




    	 



    	 



    

 


(b) Notices.
All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed
to have been duly given upon receipt) by delivery in person, by email or by registered or certified mail (postage prepaid, return receipt
requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice
given in accordance with this Section 7(b)):


 


If
to Sagaliam, to:


 


Sagaliam
Acquisition Corp.


1800
Avenue of the Stars, Suite 1475


Los
Angeles, California 90067


Attention:
Barry Kostiner; Thomas W. Neukranz


Email:
bkostiner@fintecham.com; tneukranz@gldlp.com


 


with
a copy (which will not constitute notice) to:


 


Mayer
Brown LLP


71
South Wacker Drive


Chicago,
Illinois 60606


Attention:
Esther Chang


Email:
echang@mayerbrown.com


 


and


 


Mayer
Brown LLP


16th
– 19th Floors, Prince’s Building


10
Chater Road, Central


Hong
Kong


Attention:
Thomas Kollar


Email:
thomas.kollar@mayerbrown.com


 


If
to the Company, to:


 


Arabian
Entertainment Company Limited


Jeddah
Street, PO Box 51994


Jeddah
21553, Saudi Arabia


Attention:
Kamran Khan, Chief Operating Officer


Email:
kamrank@tarfeehksa.com


 


with
a copy (which will not constitute notice) to:


 


King
& Spalding LLP


1180
Peachtree Street, NE


Suite
1600


Atlanta,
Georgia 30309


Attention:
Keith M. Townsend


Email:
ktownsend@kslaw.com


 




    	 



    	 



    

 


If
to Seller, to:


 


GLD
Partners, LP


1800
Avenue of the Stars


Suite
1475


Los
Angeles, California 90067


Attention:
Brett Rosen, Esq.


Email:
brosen@gldlp.com


 


(c)
Nonsurvival of Representations, Warranties and Covenants. None of the representations, warranties, covenants, obligations
or other agreements in this Agreement or in any certificate, statement or instrument delivered pursuant to this Agreement, including
any rights arising out of any breach of such representations, warranties, covenants, obligations, agreements and other provisions, shall
survive the Closing and all such representations, warranties, covenants, obligations or other agreements shall terminate and expire upon
the occurrence of the Closing (and there shall be no liability after the Closing in respect thereof), except for (a) those covenants
and agreements contained herein that by their terms expressly apply in whole or in part after the Closing and then only with respect
to any breaches occurring after the Closing and (b) this Section 7.


 


(d) Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the Transactions is not affected in any manner materially adverse to any Party. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement
so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the Transactions
be consummated as originally contemplated to the fullest extent possible.


 


(e) Entire
Agreement; Assignment. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof
and supersede all prior agreements and undertakings, both written and oral, among the Parties, or any of them, with respect to the subject
matter hereof, except for the Confidentiality Agreement. This Agreement shall not be assigned (whether pursuant to a merger, by operation
of law or otherwise) by any Party without the prior express written consent of the other Parties.


 


(f) Parties
in Interest. This Agreement shall be binding upon and inure solely to the benefit of each Party, and nothing in this Agreement, express
or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason
of this Agreement.


 




    	 



    	 



    

 


(g) Governing
Law. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware applicable to Contracts
executed in and to be performed in that State. All legal actions and proceedings arising out of or relating to this Agreement shall be
heard and determined exclusively in any Delaware Chancery Court; provided, however, that if jurisdiction is not then available
in the Delaware Chancery Court, then any such legal Action may be brought in any federal court located in the State of Delaware or any
other Delaware state court. The Parties hereby (a) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves
and with respect to their respective properties for the purpose of any Action arising out of or relating to this Agreement brought by
any Party, and (b) agree not to commence any Action relating thereto except in the courts described above in Delaware, other than Actions
in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein.
Each of the Parties further agrees that notice as provided herein shall constitute sufficient service of process and the Parties further
waive any argument that such service is insufficient. Each of the Parties hereby irrevocably and unconditionally waives, and agrees not
to assert, by way of motion or as a defense, counterclaim or otherwise, in any Action arising out of or relating to this Agreement or
the Transactions, (a) any claim that it is not personally subject to the jurisdiction of the courts in Delaware as described herein for
any reason, (b) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in
such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of
judgment or otherwise) and (c) that (i) the Action in any such court is brought in an inconvenient forum, (ii) the venue of such Action
is improper or (iii) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.


 


(h) WAIVER
OF TRIAL BY JURY. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
TRANSACTIONS. EACH OF THE PARTIES (i) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 7(h).


 


(i) Headings.
The descriptive headings contained in this Agreement are included for convenience of reference only and shall not affect in any way the
meaning or interpretation of this Agreement.


 


(j) Counterparts.
This Agreement may be executed and delivered (including by facsimile or portable document format (pdf) transmission) in counterparts,
and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement.


 




    	 



    	 



    

 


(k) Specific
Performance. The Parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance
with the terms hereof, and, accordingly, that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement or to enforce specifically the performance of the terms and provisions hereof in the Court of Chancery of the State of Delaware
or, if that court does not have jurisdiction, any court of the United States located in the State of Delaware without proof of actual
damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity as expressly permitted in this Agreement.
Each of the Parties hereby further waives (a) any defense in any action for specific performance that a remedy at law would be adequate
and (b) any requirement under any Law to post security or a bond as a prerequisite to obtaining equitable relief.


 


(l) Amendments.
This Agreement may be amended in writing by the Parties at any time prior to the Merger Effective Time. This Agreement may not be amended
except by an instrument in writing signed by each of the Parties.


 


(m) Waiver.
At any time prior to the Merger Effective Time, (a) Sagaliam may (i) extend the time for the performance of any obligation or other act
of Seller, (ii) waive any inaccuracy in the representations and warranties of Seller contained herein or in any document delivered by
Seller pursuant hereto, and (iii) waive compliance with any agreement of Seller or any condition to its own obligations contained herein
and (b) Seller may (i) extend the time for the performance of any obligation or other act of Sagaliam, (ii) waive any inaccuracy in the
representations and warranties of Sagaliam contained herein or in any document delivered by Sagaliam pursuant hereto, and (iii) waive
compliance with any agreement of Sagaliam or any condition to its own obligations contained herein. Any such extension or waiver shall
be valid if set forth in an instrument in writing signed by the Party or Parties to be bound thereby.


 


[Remainder
of page intentionally left blank; signature page follows.]


 




    	 



    	 



    

 


IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered as of the date first written above.



 





	 	SUPRAEON
    INVESTMENTS LTD 
	 	 	 
	 	By:	/s/ Brett Rosen
	 	Name:	Brett
    Rosen
	 	Title:	Director
    



 


	 	GLD
                                            PARTNERS, LP

	                               	 
	 	By:	/s/
    Eric Andrews
	 	Name:	Eric
                                            Andrews

	 	Title:	Chief Financial
                                            Officer






 


[Signature
Page to Seller Support Agreement]


 



    	 



    	 



    

 





	 	SAGALIAM
ACQUISITION CORP. 
	 	 
	 	By:	/s/ Barry Kostiner
	 	Name:	Barry
    Kostiner
	 	Title:	Chief
    Executive Officer 


 





[Signature Page to Seller Support Agreement]