Document:

Exhibit 4.2

 

RIGHTS AGREEMENT

 

This Right Agreement (this “Agreement”)
is made as of August 10, 2022 between Hainan Manaslu Acquisition Corp., a Cayman Islands exempted company (the “Company”),
and Continental Stock Transfer & Trust Company, a New York limited purposes trust company, with offices at 1 State Street, New York,
New York 10004 (“Rights Agent”).

 

WHEREAS, the Company is engaged in an initial public
offering (the “Offering”) of units of the Company’s equity securities (each, a “Unit”
and collectively, the “Units”) through Ladenburg Thalmann & Co. Inc. (the “Representative”),
as representative of the several underwriters (the “Underwriters”), each such Unit comprised of (i) one ordinary
share of the Company, par value $.0001 per share (the “Ordinary Share”); (ii) one redeemable warrant (the “Warrant”),
each Warrant entitling the holder thereof to purchase one Ordinary Share; and (iii) one right to receive one-tenth of one Ordinary Share
(the “Public Right”) upon the happening of an “Exchange Event” (defined herein), and
in connection therewith, has determined to issue and deliver up to 6,900,000 Public Rights (including up to 900,000 Public Rights subject
to the over-allotment option) to public investors in the Offering; and

 

WHEREAS, on August 10, 2022, the Company entered
into certain Private Placement Unit Purchase Agreement with Bright Winlong LLC, a Cayman Islands limited liability company (the “Sponsor”),
pursuant to which the Sponsor agreed to purchase an aggregate of 310,000 private placement units (or 341,500341,500 private placement
units if the over-allotment option is exercised in full by the Underwriters) simultaneously with the closing of the Offering at a purchase
price of $10.00 per unit and in connection therewith, will issue and deliver up to an aggregate of 310,000 rights (or 341,500 if the over-allotment
option is exercised in full by the Underwriters) (the “Private Placement Rights”); and

 

WHEREAS, in order to finance the Company’s
transaction costs in connection with an intended initial Business Combination (as defined in the Company’s Amended and Restated
Memorandum and Articles of Association), the Sponsor or an affiliate of the Sponsor or certain of the Company’s executive officers
and directors may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000 may be converted
into up to an additional 150,000 private placement units at a price of $10.00 per unit, and in connection therewith, the Company will
issue and deliver up to an aggregate of 150,000 rights as part of such private unit (the “Working Capital Rights”);

 

WHEREAS, in order to extend the period of time
to consummate a Business Combination by an additional one month (for a total of up to 18 months to complete a Business Combination), the
Sponsor (or its designees) must deposit into the trust account $198,000 or $227,700 if the underwriters’ over-allotment option is
exercised in full (approximately $0.033 per public share in either case) on or prior to the date of the applicable deadline, for each
one month extension (up to an aggregate of $1,782,000 (or $2,049,300 if the underwriters’ over-allotment option is exercised in
full), or $0.297 per public share, for an aggregate of nine months), in exchange for a non-interest bearing, unsecured promissory note,
and such loan may be convertible into Units at a price of $10.00 per Unit, each Unit consisting of one Ordinary Share, one right to receive
one-tenth of one Ordinary Share (the “Extension Loan Rights”) and one redeemable warrant to purchase one Ordinary
Share; and

 

WHEREAS, the Company may issue additional rights
from time to time that are to be governed by this Agreement (“Post-IPO Rights” and together with the Private
Placement Rights, the Working Capital Rights and the Public Rights, the “Rights”) in connection with, or following
the consummation by the Company of, a Business Combination; and

 

WHEREAS, the Company has filed with the U.S. Securities
and Exchange Commission (the “SEC”) a registration statement on Form S-1 (the “Registration Statement”),
File No. 333-261340, and the prospectus forming a part thereof (the “Prospectus”), for the registration under
the Securities Act of 1933, as amended (the “Securities Act”), of the Units, each of the securities comprising
the Units, and the Ordinary Shares underlying the Public Rights included in the Units, which Registration Statement has been declared
effective by the SEC; and

 

WHEREAS, the Company desires the Rights Agent to
act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration, transfer and exchange
of the Rights; and

 

    

    	

    

 

WHEREAS, the Company desires to provide for the
form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of rights, and immunities
of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and things have been done and
performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf of the Rights
Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this
Agreement.

 

NOW, THEREFORE, in consideration of the mutual
agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of Rights Agent. The Company hereby appoints
the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts such appointment and agrees to perform
the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Rights.

 

2.1. Form of Right. Each Right shall
be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated
herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Company’s board of directors (the “Board”),
President, Chief Executive Officer, Chief Financial Officer, and the Secretary or other principal officer of the Company. In the event
the person whose facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such person signed
the Right before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of
issuance.

 

2.2. Effect of Countersignature.
Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be
exchanged for Ordinary Shares.

 

2.3. Registration.

 

2.3.1. Right Register. The Rights
Agent shall maintain books (“Right Register”) for the registration of original issuance and the registration
of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the names
of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Rights Agent by
the Company.

 

2.3.2. Registered Holder. Prior to
due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person in whose name
such Right shall be registered upon the Right Register (“registered holder”) as the absolute owner of such Right
and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone
other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.

 

2.4. Detachability of Rights.
The Ordinary Shares, Warrants and Rights comprising the Units shall begin separate trading following the earlier to occur of: (i) the
52nd day following the date of the Prospectus or (ii) the announcement by the Representative of its intention to allow separate
earlier trading, but in no event shall the Ordinary Shares, the Warrants and Rights comprising the Units be separately traded until the
Company has filed a Current Report on Form 8-K with the SEC containing an audited balance sheet reflecting the receipt by the Company
of the gross proceeds of the Offering, including the proceeds then received by the Company from the exercise by the underwriters of their
right to purchase additional Units in the Offering (the “Over-Allotment Option”).

 

3. Terms and Exchange of Rights

 

3.1. Rights. Each Right shall entitle
the holder thereof to receive one-tenth of one Ordinary Share upon the happening of an Exchange Event. No additional consideration shall
be paid by a holder of Rights in order to receive his, her or its Ordinary Shares upon an Exchange Event as the purchase price for such
Ordinary Shares has been included in the purchase price for the Units. In no event will the Company be required to net cash settle the
Rights or issue fractional Ordinary Shares.

 

3.2. Exchange Event. An “Exchange
Event” shall occur upon the Company’s consummation of an initial Business Combination (as defined in the Company’s
Amended and Restated Memorandum and Articles of Association).

 

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3.3. Exchange of Rights.

 

3.3.1. Issuance of Ordinary Shares. As soon
as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to return their Rights Certificates
to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall. issue to the registered holder of such Right(s) the
number of full Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her or
it and issue to such Registered Holder(s) a certificate or book-entry position for the such shares. Notwithstanding the foregoing, or
any provision contained in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights. The
Company shall not issue fractional shares upon exchange of Rights. In the event that any holder would otherwise be entitled to any fractional
share upon exchange of Rights, at the time of an Exchange Event, the Company will instruct the Rights Agent how any such entitlement will
be addressed. To the fullest extent permitted by the Company’s Amended and Restated Memorandum and Articles of Association the Company
reserves the right to deal with any such fractional entitlement at the relevant time in any manner permitted by the Securities Act and
the Amended and Restated Memorandum and Articles of Association, which would include the rounding down of any entitlement to receive Ordinary
Shares to the nearest whole share (and in effect extinguishing any fractional entitlement), or the holder being entitled to hold any remaining
fractional entitlement (without any share being issued) and to aggregate the same with any future fractional entitlement to receive shares
in the Company until the holder is entitled to receive a whole number. Any rounding down and extinguishment may be done with or without
any in lieu cash payment or other compensation being made to the holder of the relevant Rights, such that value received on exchange of
the Rights may be considered less than the value that the holder would otherwise expect to receive.

 

3.3.2. Valid Issuance. All Ordinary Shares
issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and non-assessable.

 

3.3.3. Date of Issuance. Each person in whose
name any such certificate or book entry position, for Ordinary Shares is issued shall for all purposes be deemed to have become the holder
of record of such Ordinary Shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate or entry
of position.

 

3.3.4 Company Not Surviving Following
Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the
definitive agreement will provide for the holders of Rights to receive the same per share consideration the holders of the Ordinary Shares
will receive in such transaction, for the number of Ordinary Shares such holder is entitled to pursuant to Section 3.3.1 above. If the
Company does not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right will be required to affirmatively
convert his/her or its rights in order to receive the one-tenth of one Ordinary Share underlying each Right (without paying any additional
consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will be required to indicate his, her or
its election to convert the Rights into underlying Ordinary Shares as well as to return the original certificates evidencing the Rights
to the Company.

 

3.5 Duration of Rights. If an Exchange
Event does not occur within the time period set forth in the Company’s Amended and Restated Memorandum and Articles of Association,
as the same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer and Exchange of Rights.

 

4.1. Registration of Transfer. The
Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender of such
Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon
any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall be cancelled by
the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from time to time upon request.

 

4.2. Procedure for Surrender of Rights.
Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and thereupon the Rights Agent
shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing
an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer bears a restrictive legend
and the new Rights to be issued will not bear a restrictive legend, the Rights Agent shall not cancel such Right and issue new Rights
in exchange therefor until the Rights Agent has received an opinion of counsel for the Company stating that such transfer may be made
and indicating no restrictive legend is required.

 

4.3. Fractional Rights. The Rights
Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right Certificate
for a fraction of a Right.

 

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4.4. Service Charges. No service
charge shall be made for any exchange or registration of transfer of Rights.

 

4.5. Adjustments to Conversion Ratios. The
number of Ordinary Shares that the holders of Rights are entitled to receive as a result of the occurrence of an Exchange Event shall
be equitably adjusted to reflect appropriately the effect of any share split, reverse share split, share dividend, reorganization, recapitalization,
reclassification, combination, exchange of shares or other like change with respect to the Ordinary Shares occurring on or after the date
hereof and prior to the Exchange Event.

 

4.6. Right Execution and Countersignature.
The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights required
to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent, will supply the Rights
Agent with Rights duly executed on behalf of the Company for such purpose.

 

5. Other Provisions Relating to Rights of Holders
of Rights.

 

5.1. No Rights as Shareholder. Until
exchange of a Right for Ordinary Shares as provided for herein, a Right does not entitle the registered holder thereof to any of the rights
of a shareholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive
rights to vote or to consent or to receive notice as shareholders in respect of shareholder meetings or the appointment of directors of
the Company or any other matter.

 

5.2. Lost, Stolen, Mutilated, or Destroyed
Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may on such terms as to indemnity
or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include the surrender thereof), issue
a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed. Any such new Right shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Right shall be
at any time enforceable by anyone.

 

5.3. Reservation of Ordinary Shares. The
Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares that will be sufficient
to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6. Concerning the Rights Agent and Other Matters.

 

6.1. Payment of Taxes. The Company
will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in respect of the issuance
or delivery of Ordinary Shares upon the exchange of Rights, but the Company shall not be obligated to pay any transfer taxes in respect
of the Rights or such Ordinary Shares.

 

6.2. Resignation, Consolidation, or Merger
of Rights Agent.

 

6.2.1. Appointment of Successor Rights
Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further
duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Rights Agent
becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Rights Agent in place
of the Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing
of such resignation or incapacity by the Rights Agent or by the holder of the Right (who shall, with such notice, submit his, her or its
Right for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State of New York for the County
of New York for the appointment of a successor Rights Agent at the Company’s cost. Any successor Rights Agent, whether appointed
by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing
and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Rights Agent shall
be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Rights Agent with like effect
as if originally named as Rights Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate,
the predecessor Rights Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights
Agent all the authority, powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in
and confirming to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

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6.2.2. Notice of Successor Rights Agent.
In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights Agent and the
transfer agent for the Ordinary Share not later than the effective date of any such appointment.

 

6.2.3. Merger or Consolidation of Rights
Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation resulting
from any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement without
any further act.

 

6.3. Fees and Expenses of Rights Agent.

 

6.3.1. Remuneration. The Company agrees to
pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse the Rights Agent upon
demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further Assurances. The Company agrees
to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other
acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying out or performing of the provisions
of this Agreement.

 

6.4. Liability of Rights Agent.

 

6.4.1. Reliance on Company Statement.
Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by
the Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or Chairman of the
Board of the Company and delivered to the Rights Agent. The Rights Agent may rely upon such statement for any action taken or suffered
in good faith by it pursuant to the provisions of this Agreement.

 

6.4.2. Indemnity. The
Rights Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6 below,
the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of the
Rights Agent’s gross negligence, willful misconduct, or bad faith.

 

6.4.3. Exclusions. The Rights Agent shall
have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Right (except
its countersignature thereof). The Rights Agent shall not be responsible for any breach by the Company of any covenant or condition contained
in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right or as to whether any Ordinary Shares will when
issued be valid and fully paid and non-assessable.

 

6.5 Acceptance of Agency.
The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions
herein set forth.

 

6.6 Waiver. The Rights Agent hereby waives
any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution
of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the
Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever.

 

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7. Miscellaneous Provisions.

 

7.1. Successors. All the covenants and provisions
of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit of their respective successors
and assigns.

 

7.2. Notices. Any notice, statement or demand
authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to or on the Company shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after
deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Rights Agent), as
follows:

 

Hainan Manaslu Acquisition Corp.

B3406, 34F, West Tower, Block B

Guorui Building, 11 Guoxing Avenue

Haikou, Hainan Province, PRC 570203

Attention: Zhifan Zhou

Email: larry_chow86@aliyun.com

 

Any notice, statement or demand authorized by this Agreement to be
given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given when so delivered if
by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

1 State Street

New York, New York 10004

Attn: Compliance Department

 

in each case, with a copy to:

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, New York 10105

Attn: Richard I. Anslow, Esq.

Email: ranslow@egsllp.com

 

and

 

Ladenburg Thalmann & Co. Inc.

640 Fifth Ave., 4th Floor

New York, NY 10019

Attn: Steven Kaplan

Email: skaplan@ladenburg.com

 

and

 

Blank Rome LLP

1271 Avenue of the Americas

New York, New York 10020

Attn: Brad Shiffman, Esq.

Email: brad.shiffman@blankrome.com

 

7.3. Applicable Law and Exclusive Forum.
The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws of the
State of New York, without giving effect to conflict of laws. Subject to applicable law, the Company and the Rights Agent hereby agree
that any action, proceeding or claim against either of them 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 forum for any such action, proceeding or claim. The Company and the
Rights Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding
the foregoing, the provisions of this paragraph will not apply to suits brought to enforce (i) any liability or duty created by the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or the rules and regulations thereunder for which Section
27 of the Exchange Act creates exclusive federal jurisdiction, (ii) with respect to suits brought in federal courts, any duty or liability
created by the Securities Act or the rules and regulations thereunder for which Section 22 of the Securities Act creates concurrent jurisdiction
for federal and state courts or (iii) any other claim for which the federal district courts of the United States of America are the sole
and exclusive forum.

 

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Any person or entity purchasing or otherwise acquiring
any interest in the Rights shall be deemed to have notice of and to have consented to the forum provisions in this Section 7.3.
If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located
within the State of New York or the United States District Court for the Southern District of New York (a “foreign action”)
in the name of any right holder, such right holder shall be deemed to have consented to: (x) the personal jurisdiction of the state and
federal courts located within the State of New York or the United States District Court for the Southern District of New York in connection
with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y)
having service of process made upon such right holder in any such enforcement action by service upon such right holder’s counsel
in the foreign action as agent for such right holder.

 

7.4. Persons Having Rights under
this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended,
or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the Registered Holders
of the Rights and any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise,
or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole
and exclusive benefit of the parties hereto and their successors and assigns and of the Registered Holders of the Rights.

 

7.5. Examination of the Right Agreement.
A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the Borough of Manhattan, City
and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any such holder to submit his,
her or its Right for inspection by it.

 

7.6. Counterparts. This Agreement may be
executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

7.7. Effect of Headings. The Section
headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

7.8. Amendments. This Agreement may be amended
by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting or
supplementing any defective provision contained herein, including to conform the provisions hereof to the description of the terms of
the Rights and this Agreement set forth in the Prospectus, or adding or changing any other provisions with respect to matters or questions
arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest
of the registered holders. All other modifications or amendments shall require the vote or written consent of the registered holders of
a majority of the number of then outstanding Rights.

  

7.9. Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, this Agreement has been duly
executed by the parties hereto as of the day and year first above written.

 

	 	HAINAN MANASLU ACQUISITION CORP.
	 	 
	 	By: 	/s/ Zhifan Zhou
	 	 	Name: 	Zhifan Zhou
	 	 	Title: 	Chairman and Chief Executive Officer
	 	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 
	 	By:	/s/ Luis Ortiz
	 	 	Name:	Luis Ortiz
	 	 	Title: 	Vice President

 

[Signature Page to Rights Agreement]

 

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Exhibit A

 

Form of Right Certificate

 

NUMBER

 

_________R

 

HAINAN MANASLU ACQUISITION CORP.

INCORPORATED UNDER THE LAWS OF

THE CAYMAN ISLANDS

 

RIGHT

 

SEE REVERSE

FOR CERTAIN

DEFINITIONS

 

CUSIP G4233U 115

 

THIS RIGHT CERTIFICATE CERTIFIES THAT, for value received, ____________________________,
or registered assigns, is the registered holder of a right or rights (the “Right” or “Rights,” respectively) to
receive one-tenth of one ordinary share, par value $0.0001 per share (“Ordinary Share”), of Hainan Manaslu Acquisition Corp.,
a Cayman Islands exempted company (the “Company”), for each Right evidenced by this Right Certificate on the Company’s
completion of an initial business combination (as defined in the prospectus relating to the Company’s initial public offering (“Prospectus”))
upon surrender of this Right Certificate pursuant to the Rights Agreement (the “Rights Agreement”) between the Company and
Continental Stock Transfer & Trust Company, as Rights Agent (the “Rights Agent”). In no event will the Company be required
to net cash settle any Right.

 

Upon liquidation of the Company in the event an initial business combination
is not consummated during the required period as identified in the Company’s Amended and Restated Memorandum and Articles of Association,
as the same may be amended from time to time, the Right(s) shall expire and be worthless. The holder of a Right or Rights shall have no
right or interest of any kind in the Company’s trust account.

 

Upon due presentment for registration of transfer of the Right Certificate
at the office or agency of the Rights Agent, a new Right Certificate or Right Certificates of like tenor and evidencing in the aggregate
a like number of Rights shall be issued to the transferee in exchange for this Right Certificate, without charge except for any applicable
tax or other governmental charge.

 

The Company and the Rights Agent may deem and treat the registered
holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone),
for the purpose of any conversion hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.

 

Holders of a Right or Rights are not entitled to any of the rights
of a shareholder of the Company.

 

Dated:

 

	 	 	 
	 	[Corporate Seal]	 
	Secretary	 	Chairman of the Board

 

    

    	

    

 

The following abbreviations, when used in the inscription
on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	 	 	 
	TEN COM  – as tenants in common	UNIF GIFT 	 	Custodian	 
	TEN ENT – as tenants by the entireties	MIN –– ACT	(Cust)	 	(Minor)
	 	 	 
	JT TEN – as joint tenants with right of survivorship and not as tenants in common under U.S. Uniform Gifts to Minors Act
	 	 	 	 	 

 

Additional Abbreviations may also be used though
not in the above list.

 

HAINAN MANASLU

ACQUISITION CORP.

 

The Company will furnish without charge to each
shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each
class of share or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights.
This certificate and the Rights represented thereby are issued and shall be held subject to all the provisions of the Rights Agreement,
and all amendments thereto, to all of which the holder of this certificate by acceptance hereof assents.

 

For value received, ___________________________hereby
sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF
ASSIGNEE(S))

 

Rights represented by the within Certificate, and do hereby irrevocably
constitute and appoint

 

___________________________________________________________________Attorney
to transfer the said rights on the books of the within named Company will full power of substitution in the premises.

 

Dated:____________________

 

	 	 
	 	Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed: 

 

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,
PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED OR ANY SUCCESSOR RULE).Exhibit 10.1

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management Trust Agreement
(this “Agreement”) is made effective as of August 10, 2022 by and between Hainan Manaslu Acquisition Corp.,
a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New
York limited purposes trust company (the “Trustee”).

 

WHEREAS, the Company’s registration
statement on Form S-1, File No. 333-261340 (the “Registration Statement”) and related prospectus (the “Prospectus”)
for the initial public offering (the “Offering”) of the Company’s units (the “Units”),
each of which consists of (i) one ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”);
(ii) one redeemable warrant , each warrant entitling the holder thereof to purchase one Ordinary Share; and (iii) one right to receive
one-tenth of one Ordinary Share, has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission;

 

WHEREAS, the Company has entered into
an Underwriting Agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc. (“Representative”)
as representative of the several underwriters named therein (the “Underwriters”);

 

WHEREAS, if a Business Combination (as
defined herein) is not consummated within the initial nine month period following the closing of the Offering, upon the request of the
Company’s sponsor, Bright Winlong LLC, a Cayman Islands limited liability company (the “Sponsor”), the
Company may extend such period up to nine times, each by an additional one month (for a total of up to 18 months to complete a Business
Combination), subject to the Sponsor or its affiliates or permitted designees, upon five days advance notice prior to the nine month anniversary
of the Offering, or each subsequent monthly anniversary thereafter, as applicable (each, the “Applicable Deadline”),
depositing $198,000 (or up to $227,700 if the Underwriters’ over-allotment option is exercised in full) for each one-month extension,
for a total payment of up to $1,782,000, or $2,049,300 if the Underwriters’ over-allotment option is exercised in full, into the
Trust Account (as defined below) on or prior to the date of the Applicable Deadline for such extensions (each, an “Extension”),
in exchange for which the Sponsor will receive a non-interest bearing, unsecured promissory note for each Extension payable upon consummation
of a Business Combination; and

 

WHEREAS, as described in the Registration
Statement, $60,900,000 of the gross proceeds of the Offering and sale of the Placement Units (as defined in the Underwriting Agreement)
(or $70,035,000 if the Underwriters’ over-allotment option is exercised in full) and the proceeds from any loans in connection with
an Extension will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United
States (the “Trust Account”) for the benefit of the Company and the holders of the Company’s Ordinary
Shares included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest
subsequently earned thereon) is referred to herein as the “Property,” the shareholders for whose benefit
the Trustee shall hold the Property are referred herein to as the “Public Shareholders,” and the Public Shareholders
and the Company together are referred to herein as the “Beneficiaries”);

 

WHEREAS, pursuant to the Underwriting
Agreement, a portion of the Property equal to $1,950,000, or up to $2,242,500 if the Underwriters’ over-allotment option is exercised
in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Representative
upon the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company and the Trustee
desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS AGREED:

 

1. Agreements and Covenants of Trustee. The Trustee
hereby agrees and covenants to:

 

(a) Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by the Trustee
at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with consolidated assets of $100 billion or more) in the
United States, maintained by the Trustee and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the
Company;

 

(b) Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

     

     

    

 

(c) In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property in United States government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in
money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment
Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined
by the Company; it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder and, while funds are invested or uninvested, the Trustee may earn bank credits or other considerations during such
periods;

 

(d) Collect
and receive, when due, all interest or other income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e) Promptly
notify the Company and the Representative of all communications received by the Trustee with respect to any Property requiring action
by the Company;

 

(f) Supply
any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s
preparation of the tax returns relating to assets held in the Trust Account;

 

(g) Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the
Company to do so;

 

(h) Render
to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts and disbursements
of the Trust Account;

 

(i) Commence
liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter from
the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, President, Chief Financial Officer
or Chairman of the board of directors (the “Board”) or other authorized officer of the Company (and in the case
of Exhibit A, jointly signed by the Representative), and complete the liquidation of the Trust Account and distribute the Property
in the Trust Account, including any amounts representing interest earned on the Trust Account, less interest previously released to, or
reserved for use by, the Company in an amount up to $60,000 to pay dissolution expenses (as applicable) and less any other interest released
to, or reserved for use by, the Company to pay taxes as provided in this Agreement only as directed in the Termination Letter and the
other documents referred to therein, or (y) upon the date which is the later of (1) nine months after the closing of the Offering or such
later date upon an Extension effectuated pursuant to the terms hereof and (2) such later date as may be approved by the Company’s
shareholders in accordance with the Company’s amended and restated memorandum and articles of association, if a Termination Letter
has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures
set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including any amounts representing
interest earned on the Trust Account, less interest previously released to, or reserved for use by, the Company in an amount up to $60,000
to pay dissolution expenses (as applicable) and less any other interest released to, or reserved for use by, the Company to pay taxes,
shall be distributed to the Public Shareholders of record as of such date. The Trustee agrees to serve as the paying agent of record (“Paying
Agent”) with respect to any distribution of Property that is to be made to the Public Shareholders and, in its separate
capacity as Paying Agent, agrees to distribute such Property directly to the Company’s Public Shareholders in accordance with the
terms of this Agreement and the Company’s amended and restated memorandum and articles of association in effect at the time of such
distribution;

 

(j) Upon written request from
the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C (a “Withdrawal
Request”), withdraw from the Trust Account and distribute to the Company interest in an amount up to $60,000 to pay dissolution
expenses and any interest to cover any tax obligation owed by the Company as a result of assets of the Company or any taxes of the Company
which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment, and the Company
shall forward such payment to the relevant taxing authority. To the extent there is not sufficient cash in the Trust Account to fulfill
a Withdrawal Request, the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing
to make such distribution, so long as there is no reduction in the principal amount per share initially deposited in the Trust Account.
The Trustee acknowledges and agrees that no amount in excess of interest income earned on the Property shall be payable from the Trust
Account to the Company pursuant to this Section 1(j). A Withdrawal Request shall constitute presumptive evidence that the Company
is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request; 

 

    2

     

    

 

(k) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
D, the Trustee shall distribute on behalf of the Company the amount requested by the Company to be used to redeem Ordinary Shares
from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the Company’s amended
and restated memorandum and articles of association (i) to modify the substance or timing of the Company’s obligation to provide
holders of Ordinary Shares the right to have their Ordinary Shares redeemed in connection with an initial Business Combination or to redeem
100% of the Ordinary Shares included in the Units sold in the Offering if the Company has not consummated an initial Business Combination
within such time as is described in Section 1(i) of this Agreement or (ii) with respect to the other provisions relating to shareholders’
rights or pre-Business Combination activity. The written request of the Company referenced above shall constitute presumptive evidence
that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility to look beyond said request;

 

(l) Not
make any withdrawals or distributions from the Trust Account other than pursuant to Sections 1(i) through 1(k) above; and

 

(m) Upon
receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit E hereto prior to
the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount specified in the Extension
Letter on or prior to the Applicable Deadline, follow the instructions set forth in the Extension Letter.

 

2. Agreements and Covenants of the Company. The Company
hereby agrees and covenants to:

 

(a) Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, President, Chief Executive
Officer or Chief Financial Officer. In addition, except with respect to its duties under Sections 1(i), 1(j) and 1(k)
hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction
which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give written instructions,
provided that the Company shall promptly confirm such instructions in writing;

 

(b) Subject
to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable
counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection
with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand,
which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any interest earned
on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud or willful misconduct. Promptly
after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which
the Trustee intends to seek indemnification under this Section 2(b), the Trustee shall notify the Company in writing of such claim
(hereinafter referred to as the “Indemnified Claim”). The Trustee shall have the right to conduct and manage
the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent of the Company with respect to the
selection of counsel, which consent shall not be unreasonably withheld. The Trustee shall not agree to settle any Indemnified Claim without
the prior written consent of the Company, which such consent shall not be unreasonably withheld. The Company may participate in such action
with its own counsel;

 

(c) Pay
the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction
processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property
shall not be used to pay such fees unless and until the Business Combination is consummated. The Company shall pay the Trustee the initial
acceptance fee and the first annual administration fee at the consummation of the Offering. The Company shall not be responsible for any
other fees or charges of the Trustee except as set forth in this Section 2(c) and as may be provided in Section 2(b) hereof;

 

(d) In
connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination involving the Company and one or more businesses (a “Business Combination”),
provide to the Trustee an affidavit or certificate of the inspector of elections for the general meeting verifying the vote of such shareholders
regarding such Business Combination;

 

(e) Provide the Representative
with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect to any proposed withdrawal
from the Trust Account promptly after it issues the same; 

 

    3

     

    

 

(f) Instruct
the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee to make
any distributions that are not permitted under this Agreement;

 

(g) Within
four (4) business days after the Underwriters exercise the over-allotment option (or any portion thereof) or such over-allotment option
expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount due with respect to such exercise,
which shall be up to $2,242,500;

 

(h) Unless
otherwise agreed between the Company and the Representative, ensure that any Instruction Letter (as defined in Exhibit A) delivered
in connection with a Termination Letter in the form of Exhibit A expressly

provides that the Deferred Discount is paid directly to
the account or accounts directed by the Representative on behalf of the Underwriters prior to any transfer of the funds held in the Trust
Account to the Company or any other person;

 

(i) If
applicable, issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the
Applicable Deadline, the Company received notice from the Sponsor that the Sponsor intends to deposit funds into the Trust Account for
extending the Applicable Deadline and the Board has approved such Extension; and

 

(j) Promptly
following the Applicable Deadline, disclose whether or not the deadline for the Company to consummate a Business Combination has been
extended.

 

3. Limitations of Liability. The Trustee shall have
no responsibility or liability to:

 

(a) Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement
and that which is expressly set forth herein;

 

(b) Take
any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to
any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

(c) Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind
with respect to, any of the Property unless and until it shall have received

instructions from the Company given as provided herein to
do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d) Refund
any depreciation in principal of any Property;

 

(e) Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise
in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f) The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful misconduct. The
Trustee 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 Trustee, which counsel may be the Company’s counsel), 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 the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed
by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent
thereto;

 

(g) Verify
the accuracy of the information contained in the Registration Statement;

 

(h) Provide
any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by
the Registration Statement;

 

(i) File information returns
with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements to the Company
documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property; 

 

    4

     

    

 

(j) Prepare,
execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities relating
to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but not limited to, tax
obligations, except pursuant to Section 1(j) hereof; or

 

(k) Verify
calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j)
or 1(k) hereof.

 

4. Trust Account Waiver. The
Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies
in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the
future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section
2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets outside the Trust
Account and not against the Property or any monies in the Trust Account.

 

5. Termination. This Agreement shall terminate as
follows:

 

(a) If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts
to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the
Company notifies the Trustee that a successor trustee has been appointed and has agreed to become subject to the terms of this Agreement,
the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of
copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however,
that in the event that the Company does not locate a successor trustee within ninety (90) days after receipt of the resignation notice
from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York or with
the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability
whatsoever; or

 

(b) At
such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions of
Section 1(i) and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except as set forth in Section 2(b).

 

6. Miscellaneous.

 

(a) The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures
to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall
rely upon all information supplied to it by the Company, including account names, account numbers, and all other identifying information
relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s
gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or expense resulting from any error
in the information or transmission of the funds.

 

(b) This
Agreement shall be governed by and construed and enforced 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. This Agreement may
be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute
but one instrument.

 

(c) This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for
Section 1(i), 1(j) and 1(k) hereof (which may not be changed, modified, amended or deleted without the affirmative
vote of sixty five percent (65%) of all issued and outstanding Ordinary Shares of the Company having voted in favor of such change, modification,
amendment or deletion; provided that no such amendment will affect any Public Shareholder who has elected to redeem his, her or its Ordinary
Shares in connection with a shareholder vote sought to amend this Agreement), this Agreement or any provision hereof may only be changed,
amended, modified or deleted (other than to correct a typographical error) by a writing signed by each of the parties hereto.

 

(d) The parties hereto
consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York, for purposes
of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY
WAIVES THE RIGHT TO TRIAL BY JURY.

 

    5

     

    

 

(e) Any notice, consent or request to be given
in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express mail or similar private
courier service, by certified mail (return receipt requested), by hand delivery or by facsimile transmission or by electronic mail:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

Hainan Manaslu Acquisition Corp.

B3406, 34F, West Tower, Block B

Guorui Building, 11 Guoxing Avenue

Haikou, Hainan Province, PRC

Attn: Zhifan Zhou

Email: larry_chow86@aliyun.com

 

in each case, with copies to:

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, New York 10105

Attn: Richard I. Anslow, Esq.

Email: ranslow@egsllp.com

 

and

 

Ladenburg Thalmann & Co. Inc.

640 Fifth Ave., 4th Floor

New York, NY 10019

Attn: Steven Kaplan

Email: skaplan@ladenburg.com

 

and

 

Blank Rome LLP

1271 Avenue of the Americas

 New York, New York 10020

Attn: Brad L. Shiffman, Esq.

Email: Brad.Shiffman@blankrome.com

 

(f) Each
of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make
any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account
under any circumstance.

 

(g) This Agreement is the joint
product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation and agreement
of such parties and shall not be construed for or against any party hereto. 

 

    6

     

    

 

(h) This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.

 

(i) Each
of the Company and the Trustee hereby acknowledges and agrees that the Representative, on behalf of the Underwriters, is a third-party
beneficiary of this Agreement.

 

(j) Except
as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity,
without the written consent of the other party.

 

[Signature Page Follows] 

 

    7

     

    

 

IN WITNESS WHEREOF, the
parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	Continental Stock Transfer & Trust Company, as Trustee
	 	 
	 	By: 	/s/ Francis Wolf
	 	Name:	 Francis Wolf
	 	Title:  	Vice President
	 	 
	 	Hainan Manaslu Acquisition Corp.
	 	 
	 	By: 	/s/ Zhifan Zhou
	 	Name:  	Zhifan Zhou
	 	Title: 	Chairman and Chief Executive Officer

 

[Signature Page to the Investment Management
Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,500.00	 
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Section 1	 	Billed to Company following disbursement made to Company under Section 1	 	$	250.00	 
	Paying Agent services as required pursuant to Section 1	 	Billed to Company upon delivery of service pursuant to Section 1	 	 	Prevailing rates	 

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Hainan Manaslu Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of August 10, 2022 (the “Trust Agreement”),
this is to advise you that the Company has entered into an agreement with [insert business] (the “Target Business”)
to consummate a business combination with Target Business (the “Business Combination”) on or about [insert
date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date (or such shorter period as you may
agree) of the consummation of the Business Combination (the “Consummation Date”). Capitalized terms used but
not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms of the
Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account and to transfer the proceeds
into a segregated account at J.P. Morgan Chase Bank, N.A. held by you on behalf of the Beneficiaries so that, on the Consummation Date,
all of funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct
on the Consummation Date (including as directed to it by the Representative on behalf of the Underwriters (with respect to the Deferred
Discount)). It is acknowledged and agreed that while the funds are on deposit in the segregated account at JPMorgan Chase Bank, N.A. awaiting
distribution, the Company will not earn any interest or dividends.

 

On the Consummation Date, (i) counsel
for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated concurrently
with your transfer of funds to the accounts as directed by the Company (the “Notification”), and (ii) the Company
shall deliver to you (a) a certificate by the Chief Executive Officer, President, Chief Financial Officer, Executive Vice President, Vice
President, Secretary or Chairman, which verifies that the Business Combination has been approved by a vote of the Company’s shareholders,
if a vote is held, and (b) a joint written instruction signed by the Company and the Representative with respect to the transfer of the
funds held in the Trust Account, including payment of the Deferred Discount to the Representative from the Trust Account (the “Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt
of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits
held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation
Date to the Company. Upon the distribution of all the funds from the Trust Account, your obligations under the Trust Agreement shall be
terminated.

 

In the event that the Business Combination
is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the original Consummation
Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust
Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation
Date as set forth in such notice as soon thereafter as possible.

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	Hainan Manaslu Acquisition Corp.
	 	 
	 	By:	 
	 	Name: 	              
	 	Title:	 

 

	AGREED TO AND 	 
	ACKNOWLEDGED BY	 
	 	 
	Ladenburg Thalmann & Co. Inc. 	 
	 	 
	By:	 	 
	Name: 	                           	 
	Title:	 	 

 

     

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the
Investment Management Trust Agreement between Hainan Manaslu Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of August 10, 2022 (the “Trust Agreement”),
this is to advise you that the Company has been unable to effect a business combination with a target business within the time frame specified
in Section 1(i) of the Trust Agreement. Capitalized terms used but not defined herein shall have the meanings set forth in the
Trust Agreement.

 

In accordance with the terms of the
Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into a
segregated account at J.P. Morgan Chase Bank, N.A. held by you on behalf of the Beneficiaries to await distribution to the Public Shareholders.
The Company has selected [ ], 202_, as the effective date for the purpose of determining when the Public Shareholders will be entitled
to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying
Agent, we hereby direct you to distribute said funds directly to the Company’s Public Shareholders in accordance with the terms
of the Trust Agreement and the amended and restated memorandum and articles of association of the Company as in effect at the time of
such distribution. Upon the distribution of all funds in the Trust Account, your obligations under the Trust Agreement shall be terminated,
except to the extent otherwise provided in Section 1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 
	 	Hainan Manaslu Acquisition Corp.
	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	           

 

cc: Ladenburg Thalmann & Co. Inc. 

 

     

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account - Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(j) of the
Investment Management Trust Agreement between Hainan Manaslu Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of August 10, 2022 (the “Trust Agreement”),
the Company hereby requests that you deliver to the Company $____ of the interest income earned on the Property as of the date hereof.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds [to pay
for the tax obligations as set forth on the attached tax return or tax statement] [in connection with its dissolution [upon the expiration
of the 9-month period following completion of the Offering (or upon such later date as may be extended in accordance with the terms described
in the Company’s amended and restated memorandum and articles of association)]. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	Hainan Manaslu Acquisition Corp.
	 	 
	 	By:	 
	 	Name:  	           
	 	Title:	 

 

cc: Ladenburg Thalmann & Co. Inc.

 

     

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

 

		Re:	Trust Account Shareholder Redemption Withdrawal Instruction

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(j) of the
Investment Management Trust Agreement between Hainan Manaslu Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of August 10, 2022 (the “Trust Agreement”),
the Company hereby requests that you liquidate sufficient amounts from the trust account and deliver to the redeeming Public Shareholders
of the Company $____ of the principal and interest income earned on the Property as of the date hereof to a segregated account held by
you on behalf of the Beneficiaries. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds to pay
its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder
vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (i) to modify the substance
or timing of the Company’s obligation to redeem 100% of its public Ordinary Shares if the Company has not consummated an initial
Business Combination within such time as is described in Section 1(i) of the Trust Agreement or (ii) with respect to the other
material provisions relating to shareholders’ rights or pre-initial Business Combination activity. As such, you are hereby directed
and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to a segregated account held by you
on behalf of the Beneficiaries.

 

	 	Very truly yours,
	 	 
	 	Hainan Manaslu Acquisition Corp.
	 	 
	 	By:	            
	 	Name: 	 
	 	Title:	 

 

cc: Ladenburg Thalmann & Co. Inc.

 

     

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez.

 

		Re:	Trust Account Extension Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(m)
of the Investment Management Trust Agreement between Hainan Manaslu Acquisition Corp. (the “Company”) and
Continental Stock Transfer & Trust Company, dated as of August 10, 2022 (the “Trust Agreement”), this
is to advise you that the Company is extending the time available to consummate a Business Combination for an additional one month,
from ________ to ________ (the “Extension”).

 

This Extension Letter shall serve as
the notice required with respect to the Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise defined
shall have the meanings ascribed to them in the Trust Agreement.

 

In accordance with the terms of the Trust
Agreement, we hereby authorize you to deposit $________, (or $________ if the underwriters’ over-allotment option was exercised
in full), which will be wired to you, into the Trust Account investments upon receipt.

 

This is the [____] of up to nine Extension Letters.

 

	Very truly yours,	 
	 	 	 
	Hainan Manaslu Acquisition Corp.	 
	 	 	 
	By:	 	 
	Name:  	              	 
	Title:	 	 

 

cc: Ladenburg Thalmann & Co. Inc.

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