Document:

Document

EXHIBIT 10.3

Extract of the Agreement between 
the Macao Special Administrative Region 
and
Galaxy Casino, S.A.
Amendment to the Concession contract for the operation of games of chance or other games in casino in the Macao Special Administrative Region

I hereby certify that by means of an agreement dated June 23, 2022, recorded on pages 88 to 90 back of book 395A of the Notary Division of the Finance Services Bureau, that the “Concession contract for the operation of games of chance or other games in casino in the Macao Special Administrative Region” dated June 26, 2002, recorded on pages 12 to 91 back of book 338, further amended by means of an agreement dated December 19, 2002,  recorded on pages 65 to 77 back of book 342, all from the said Notary Division, was amended, and now reads as follows: 

Clause 1
Amendment

Clause 8 and Clause 43 of the Concession contract for the operation of games of chance or other games in casino executed by and between the Macao Special Administrative Region and Galaxy Casino, S.A. on June 26, 2002, amended on December 19, 2002, now reads as follows:

“Clause 8 – Term of the concession

1.The term of this concession is extended to December 31, 2022.
2.(Remains unchanged)

“Clause 43 – Reversion of casinos and gaming equipment and utensils allocated to gaming
1

1.On December 31, 2022, except in case the concession is terminated prior to this date, the casinos and the equipment and utensils of the concessionaire allocated to gaming, even when the latter are kept outside the casinos, shall automatically revert to the grantor of the concession, without compensation, and upon the delivery of the aforementioned assets, the concessionaire shall ensure they are in good upkeep and operating conditions, except for normal wear and tear resulting from the use thereof for the purposes of this concession contract, and free of  any liens or charges. 
2.The concessionaire shall immediately deliver the assets mentioned in the previous paragraph, and shall execute all documents requested by the Government in accordance with the law.
3.(Remains unchanged).
4.(Remains unchanged).
5.(Remains unchanged).
6.(Remains unchanged).”

Clause 2
Added Clauses
Clause 9-A, Clause 43-A and Clause 63-A are added to the concession contract with the following wording:

“Clause 9-A – Locations authorized to operate games of chance

The concessionaire is authorized to operate games of chance or other games in casino at the following locations:
1) “Casino Star World”, situated at Avenida da Amizade, Macau;
2)“Casino Galaxy Macau”, situated at Galaxy Macau, Estrada Baía da Nossa Senhora da Esperança, s/n, COTAI, Macau;
3)“Casino Broadway”, situated at Avenida Marginal Flor de Lotus, COTAI, Macao;
4)“Casino Waldo”, situated at Avenida da Amizade, Macau.

2

“Clause 43-A – Casinos

1.    The following casinos of the concessionaire shall, pursuant to article 40 of Law No. 16/2001 and Clause 43 of this concession contract, upon the expiry of the concession, revert to the Macao Special Administrative Region without compensation and free of any liens or charges:
1)“Casino Star World”;
2)“Casino Galaxy Macau”;
3)“Casino Broadway”.

Clause 63-A – Bank guarantee to guarantee the satisfaction of labour debts

1.The concessionaire undertakes to provide an autonomous first demand bank guarantee (“first demand”) in an amount not less than MOP1.63 billion, in favour of the Macao Special Administrative Region, to guarantee the satisfaction of labour debts upon the expiry of this contract.
2.The Macao Special Administrative Region may request to increase the amount of the abovementioned guarantee in accordance with the number of the workers employed by the concessionaire. 
3.The concessionaire undertakes to pursue all actions and comply will all obligations as deemed necessary to keep the bank guarantee mentioned in paragraph 1 effective. 
4.Upon expiry of the term of this concession contract, if the concessionaire fails to satisfy its labour debts within the deadline set by the Macao Special Administrative Region, the latter may enforce the bank guarantee mentioned in paragraph 1. 
5.The bank guarantee mentioned in paragraph 1 may only be cancelled with the authorization of the Macao Special Administrative Region.
6.The expenses related with the issuance, maintenance and cancellation of the bank guarantee mentioned in paragraph 1 shall be entirely borne by the concessionaire.”

Clause 3
Compensation for the extension 
3

1.The concessionaire shall pay the Macao Special Administrative Region the amount of MOP47 million with the execution of this agreement to amend the concession contract, as compensation for the extension of the term of the concession for the operation of games of chance or other games in casino to December 31, 2022.
2.The concessionaire undertakes to comply with the obligation set forth under Clause 63-A added pursuant to Clause 2 of this agreement to amend the concession contract within three months from date of execution of this agreement.

Clause 4
Undertaking 

For the purposes of execution of this contract, the concessionaire and the concessionaire of the land in which are located the casinos referred to in Clause 43-A of the concession contract for the operation of games of chance or other games in casino, as amended by this contract, undertake to execute documents, and undertake to revert the casinos to the Macao Special Administrative Region in accordance with the terms of Law No. 16/2001, as amended, as well as of the concession contract for the operation of games of chance or other games in casino, as amended by this contract. The scope of the casinos is demarcated in the abovementioned documents.

Clause 5
Other clauses of the contract

The remainder of the clauses of the concession contract remain unchanged.

Clause 6
This agreement to amend the concession contract becomes effective as of the date of its execution by the parties. 

Finance Services Bureau June 23, 2022,  - the Private Notary, Ho Im Mei.  
4Exhibit 10.1

 

THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT
BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL
REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE 

 

	Principal Amount: $9,264.32	 	Dated as of July 21, 2022

 

Constellation Acquisition Corp I, a Cayman Islands exempted company
and blank check company (the “Maker”) promises to pay to the order of the payees listed in Schedule A hereto, or their
registered assigns or successors in interest (the “Payees”), or order, the principal sum of nine-thousand two-hundred
and sixty-four U.S. dollars and thirty-two US cents ($9,264.32) in lawful money of the United States of America, on the terms and conditions
described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined
by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this
Note.

 

1. Principal. The principal balance of this Note shall be payable
on the earlier of: (i) twenty-four (24) months from the closing of the initial public offering (or such later date as may be extended
in accordance with the terms of the Maker’s memorandum and articles of association) or (ii) the date on which Maker consummates
a business combination. The principal balance may be prepaid at any time.

 

2. Interest. No interest shall accrue on the unpaid principal
balance of this Note.

 

3. Application of Payments. All payments shall be applied first
to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s
fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

 

4. Events of Default. The following shall constitute an event
of default (“Event of Default”):

 

(a) Failure to Make Required Payments. Failure by Maker to pay
the principal amount due pursuant to this Note within five (5) business days of the date specified above.

 

(b) Voluntary Bankruptcy, Etc. The commencement by Maker of
a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it
to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official)
of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure
of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the
foregoing.

 

(c) Involuntary Bankruptcy, Etc. The entry of a decree or order
for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy,
insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official)
of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of
any such decree or order unstayed and in effect for a period of 60 consecutive days.

 

5. Remedies.

 

(a) Upon the occurrence of an Event of Default specified in Section
4(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal
amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest
or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same
to the contrary notwithstanding.

 

(b) Upon the occurrence of an Event of Default specified in Sections
4(b) and 4(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall automatically and
immediately become due and payable, in all cases without any action on the part of Payee.

 

     

     

    

8. Waivers. Maker and all endorsers and guarantors of, and sureties
for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all
errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue
to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any
sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil
process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained
by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

9. Unconditional Liability. Maker hereby waives all notices
in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability
shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence,
extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals,
waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional
makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

10. Notices. All notices, statements or other documents which
are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent by first class registered or
certified mail, overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile
to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party and
(iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as
may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the
day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic
transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

11. Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

12. Severability. Any provision contained in this Note which
is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

13. Trust Waiver. Notwithstanding anything herein to the contrary,
the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution
of or from the trust account to be established in which the proceeds of the initial public offering (the “IPO”) conducted
by the Maker (including the deferred underwriting discounts and commissions) and the proceeds of the sale of the warrants issued in a
private placement to occur prior to the effectiveness of the IPO are to be deposited, as described in greater detail in the registration
statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to
seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

 

14. Amendment; Waiver. Any amendment hereto or waiver of any
provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

 

15. Assignment. No assignment or transfer of this Note or any
rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of
the other party hereto and any attempted assignment without the required consent shall be void.

 

[Signature page follows]

 

     

     

    

IN WITNESS WHEREOF, Maker, intending to be legally bound hereby,
has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	 	 	 	 	 	 
	 	CONSTELLATION ACQUISITION CORP I
	 	
    a Cayman Islands exempted company

     

	 	 	 
	 	By:	 	
    /s/ Klaus Kleinfeld

	 	 	 	Name:	 	Klaus Kleinfeld
	 	 	 	Title:	 	DIRECTOR

 

 

 

 

 

 

 

 

 

[Signature Page to Promissory Note]

 

     

     

    

Acknowledged and Agreed:

 

	 	Norbert Essing
	 	 	 
	 	 	 	
    /s/ Norbert Essing

 
 
 

 

 

 

 

[Signature Page to Promissory Note]

 

     

     

    

Schedule A: Payees

 

	Payees	 	Amount
	1.	Norbert Essing	USD 9,264.32

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