Document:

EXHIBIT 10.1

 

ACROPOLIS INFRASTRUCTURE ACQUISITION CORP.

9 West 57th Street, 43rd Floor

New York, NY 10019

 

Mr. Ian Deason

9 West 57th Street, 43rd Floor

New York, NY 10019

Dear Mr. Deason,

As previously discussed, attached hereto as Annex
A is a summary of the terms (the “Term Sheet”) in connection with your service as a director of Acropolis Infrastructure
Acquisition Corp. This letter and Term Sheet memorialize our agreement and constitute a binding commitment on both parties. Please indicate
your agreement with the foregoing, by signing this letter where indicated below.

	 	Very truly yours,	 
	 	 	 
	 	ACROPOLIS INFRASTRUCTURE ACQUISITION CORP.	 
	 	 	 	 
	 	By:	/s/ James Crossen	 
	 	 	Name: James Crossen	 
	 	 	Title: Chief Financial Officer and Chief Accounting Officer	 

 

Agreed to and accepted:

	/s/ Ian Deason
	 
	Dated:8/23/2021

 

 

    	 		 

     

    

Annex A

Summary of Terms for Director of Acropolis
Infrastructure Acquisition Corp.

	Parties:	 	Company: Acropolis Infrastructure Acquisition Corp., a Delaware corporation (the “Company”); and
	 	 	 	 
	 	 	Director: Mr. Ian Deason (the “Director”).
	 	 	 	 
	Term:	 	Subject to the Director’s initial election and re-election, the Director will serve until such time that such Director’s successor is duly elected and qualified, or until such Director’s death or removal from office.
	 	 	 	 
	 	 	The Director may be removed, with or without cause, at any time by the board of directors (the “Board”).
	 	 	 	 
	 	 	The Director will be automatically removed from the Board if such Director resigns such Director’s office by writing delivered to the Board.  
	 	 	 	 
	Fees and Expenses:	 	One-time cash payment of $250,000, to be paid promptly following your initial election to the Board.
	 	 	 	 
	 	 	If the Director resigns, other than in connection with the consummation of a “deSPAC” transaction, or is removed from the Board for cause, then the Director shall repay the Company an amount equal to (i) $250,000 minus (ii) the product of (A) $11,000 multiplied by (B) the number of full months that have elapsed from the commencement of the Director’s service on the Board through the date of such resignation or removal.  Such repayment shall be made within 30 days following such resignation or removal.  
	 	 	 	 
	 	 	The Company shall reimburse to the Director all travel expenses reasonably incurred by such Director in the proper performance of the Director’s obligations under this letter, provided that the Director supplies receipts or other evidence of such expenditures.
	 	 	 	 
	Citizenship	 	The Director confirms that he is a citizen of the United States.
	 	 	 	 
	Duties, Time and Commitment:	 	Shall use reasonable best efforts to attend all convened meetings of the Board and, if requested by the Board, meetings of the shareholders of the Company.
	 	 	 	 

 

    	 	i	 

     

    

 

 

	 	 	Duties of committee members will be as set forth in the committee charters and will include attendance of committee meetings.
	 	 	 	 
	 	 	During the continuance of the Director’s appointment, the Director will be expected to:
	 	 	 	 
	 	 	(i)	faithfully, efficiently, competently and diligently perform the Director’s duties and exercise such powers as are appropriate to the Director’s role as a non-executive director;
	 	 	 	 
	 	 	(ii)	in so far as reasonably possible, attend all meetings of the Board and of any committees of the Board of which the Director is a member;
	 	 	 	 
	 	 	(iii)	promptly declare, so far as the Director is aware, the nature of any interest, whether direct or indirect, in any contract or proposed contract entered into by any member of the Company;
	 	 	 	 
	 	 	(iv)	comply with all reasonable requests, instructions and regulations made or given by the Board (or by any duly authorized committee thereof) and give to the Board such explanations, information and assistance as the Board may reasonably require;
	 	 	 	 
	 	 	(v)	act in the best interests of the Company; and
	 	 	 	 
	 	 	(vi)	use commercially reasonable efforts to promote and extend the interests and reputation of the Company, including assisting the Board in relation to public and corporate affairs and bringing to bear for the benefit of the Board the Director’s particular knowledge and experience.
	 	 	 	 
	 	 	Since the Director is to be classified as an independent director at the time of appointment, the Director shall promptly inform the Board of any circumstances that would likely affect such independent status.
	 	 	 	 
	 	 	The Director shall inform the Board within 10 business days of the Director’s appointment of any held (indirect and indirect) personal interests which may conflict with the Company and its business.
	 	 	 	 
	Confidential	 	The Director agrees that both during and after the
	 	 	 	 

 

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	Information	 	Director’s time as a director of the Company, the Director will not use for the Director’s own, or for another’s benefit, or disclose or permit the disclosure of any confidential information relating to the Company, including without limitation any information about the deliberations of the Board.
	 	 	 	 
	 	 	The restriction shall cease to apply to any confidential information which may (other than by reason of the Director’s breach of these terms) become available to the public generally.
	 	 	 	 
	 	 	The Director also agrees during the Director’s appointment that the Director will not, other than for the benefit of the Company and in connection with service as a director, make any notes, memoranda, electronic records, tape records, films, photographs, plans, drawings or any form of record relating to any matter within the scope of the business or concerning the dealings or affairs of the Company and will return any such items at any time at the request of the Board.
	 	 	 	 
	 	 	The Director confirms that the Director has notified the Board in writing of all other directorships, appointments and interests, including any directorship, appointment or interest in a company, business or undertaking which competes or is likely to compete with the Company or which could otherwise potentially give rise to a conflict with the Director’s duties with the Company (a “Competing Interest”).
	 	 	 	 
	 	 	The Director undertakes that during the term of the Director’s appointment, the Director will promptly disclose to the Board in writing any new directorship, appointment or interest.
	 	 	 	 
	Indemnification:	 	The Director will be entitled to indemnification and advancement of expenses by the Company to the fullest extent permitted by Section 145 of the Delaware General Corporation Law as set forth in the Amended and Restated Certificate of Incorporation of the Company (the “Charter”).  The Charter provides, amongst other things, for indemnification of the Director, to the fullest extent permitted by law, for any losses, liabilities, expenses, incurred or suffered by in connection with any action, suit or proceeding in which the Director is made a party or threatened to be made a party by reason of his service as a director of the Company.  The Charter further provides that 

 

    	 	iii	 

     

    

 

 

	 	 	indemnification will continue after the Director has ceased to be a director of the Company and shall inure to the benefit of his or her heirs, executors and administrators.
	 	 	 	 
	Insurance:	 	The Company has an insurance policy under which the directors and officers of the Company are insured, subject to the limits of the policy, against certain losses arising from claims made against such directors and officers by reason of any acts or omissions covered under the policy in their respective capacities as directors or officers of the Company, including certain liabilities under securities laws.
	 	 	 	 
	Miscellaneous	 	This letter does not create the relationship of employee and employer between the Director and the Company.
	 	 	 	 
	 	 	This letter constitutes the entire agreement between the Director and the Company with respect to the subject matter hereof and supersedes any prior agreement or understanding among or between them with respect to such subject matter.
	 	 	 
	Governing Law and Jurisdiction:	 	This appointment and the terms hereunder are governed under the laws of Delaware. The Delaware courts have non-exclusive jurisdiction to settle any dispute and the parties submit to the non-exclusive jurisdiction of the Delaware courts.
	 	 	 	 
	 	 	The structure, practices and committees of the Board, including matters relating to the size, independence and composition of the Board, the election and removal of directors, requirements relating to Board action, the powers delegated to Board committees and the appointment of executive officers, are governed by the Company’s Charter and Amended and Restated Bylaws (as in effect from time to time).
	 	 	 	 
	Notices:	 	Any notice to be given under the terms of this letter shall, in the case of notice to the Company, be deemed to be given if left at or sent by first class post or facsimile transmission (in each case, addressed to the Chief Financial Officer) to Acropolis Infrastructure Acquisition Corp., 9 West 57th Street, 43rd Floor, New York, New York 10019, Attention: James Crossen. Any such notice shall be deemed to be given at the time of its delivery or dispatch by facsimile transmission or on the next following weekday (not being a public holiday) after it was posted.

 

    	 	ivExhibit 10.1

 

SHAREHOLDER SUPPORT
AGREEMENT

 

THIS
SHAREHOLDER SUPPORT AGREEMENT, dated as of August 23, 2021 (the “Agreement”), by and between Ace Global Business Acquisition
Ltd, a British Virgin Islands company (“Purchaser”), and the undersigned, the shareholders (the “Holders”)
of DDC Enterprise Limited, a Cayman Islands company (the “Company”).

 

WITNESSETH:

 

		A.	WHEREAS, the Purchaser, the Company
and Norma Chu Ka Yin, an individual, as the representative of the Shareholders (the “Shareholders’ Representative”)
are entering into a Share Exchange Agreement of even date herewith (as the same may be amended or supplemented from time to time, the
“Merger Agreement”) providing for the share exchange between the Purchaser and the shareholders of the Company (the
“Merger”), as a result of which the Company shall become a wholly owned Subsidiary of Purchaser and the shareholders
of the Company shall be issued certain numbers of shares of the Purchaser;

 

		B.	WHEREAS, the Holders and their affiliates
are the beneficial owners of an aggregate of approximately 14.5% of all voting rights attached to all issued shares of the Company (the
“Company Shares”) for the time being that are entitled to vote on the transactions contemplated by the Merger Agreement
(such Company Shares owned by the Holders’ and their affiliates’ “Existing Shares” and such Existing Shares,
together with any additional capital stock of the Company beneficially owned or acquired by the Holders and their affiliates on or after
the date hereof, the “Shares”);

 

		C.	WHEREAS, as an inducement and a
condition to Purchaser entering into the Merger Agreement, the Holders are entering into this Agreement with Purchaser; and

 

		D.	WHEREAS, the board of directors
of the Company has approved the Merger Agreement and the transactions contemplated thereby, and has consented to the execution and delivery
of this Agreement in connection therewith, understanding that the execution and delivery of this Agreement by the Holders is a material
inducement and condition to Purchaser’s willingness to enter into the Merger Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements contained herein, and intending to
be legally bound hereby, the parties agree as follows:

 

Article I

GENERAL

 

1.1 Definitions.
Capitalized terms used but not defined herein shall have the meanings set forth in the Merger Agreement.

 

Article II

AGREEMENT TO CONSENT AND VOTE

 

2.1 Agreement
to Deliver Written Consent. Prior to the Termination Date (as defined herein), the Holders irrevocably and unconditionally agree that
Holders shall, promptly following the time at which the Registration Statement becomes effective under the Securities Act (and, in any
event, within two Business Days of such time), execute and deliver (or cause to be executed and delivered) the Shareholder Written Consent,
substantially in the form attached hereto as Exhibit A, pursuant to the Company’s Amended and Restated Memorandum and Articles of
Association and the Amended and Restated Shareholders’ Agreement dated 5 February 2021 of the Company covering all of the Shares
approving the Merger, adopting the Merger Agreement and approving any other matters necessary for consummation of the transactions contemplated
by the Merger Agreement, including the Merger (the “Transaction Matters”).

 

2.2 Agreement
to Vote. Prior to the Termination Date, the Holders irrevocably and unconditionally agree that Holders shall, at any meeting of the
shareholders of the Company (whether annual or special and whether or not an adjourned or postponed meeting), however called, appear at
such meeting or otherwise cause the Shares to be counted as present thereat for purpose of establishing a quorum and vote (or consent),
or cause to be voted at such meeting (or validly execute and return and cause such consent to be granted with respect to), all Shares
in favor of the Transaction Matters.

 

    

     

    

 

Article III

ADDITIONAL AGREEMENTS

 

3.1 Waiver
of Appraisal Rights; Litigation. To the full extent permitted by law, the Holders hereby irrevocably and unconditionally waive, and
agree not to exercise, any rights of appraisal, any dissenters’ rights and any similar rights relating to the Merger that the Holders
may directly or indirectly have by virtue of the ownership of any Shares. The Holders further agree not to commence, join in, facilitate,
assist or encourage, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim,
derivative or otherwise, against Purchaser, or the Company or any of their respective affiliates and each of their successors or directors
relating to the negotiation, execution or delivery of this Agreement or the Merger Agreement or the consummation of the transactions contemplated
hereby or thereby, including any claim (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this
Agreement or (b) alleging a breach of any fiduciary duty of the board of directors of the Company in connection with this Agreement,
the Merger Agreement or the transactions contemplated hereby or thereby, and hereby irrevocably waives any claim or rights whatsoever
with respect to any of the foregoing.

 

3.2 Retention
of Shares. The Holders agree that the Holders shall not, prior to the Termination Date, offer for sale, sell, short sell, transfer,
tender, pledge, encumber, assign, or otherwise dispose of, or grant a proxy with respect to, any of the Holders’ Shares (each a
“Transfer”). Any Transfer violation of this Agreement shall be void ab initio.

 

3.3 Fiduciary
Duties. The Holders are entering into this Agreement solely in their capacity as the record or beneficial owner of the Shares. The
taking of any actions (or failures to act) by the Holders’ designees serving as a director of the Company shall not be deemed to
constitute a breach of this Agreement.

 

Article IV

REPRESENTATIONS AND WARRANTIES

 

4.1 Representations
and Warranties. Each of the Holders hereby represents and warrants as follows:

 

(a) Ownership.
To the Holders’ knowledge, the Holders have, with respect to the Existing Shares, and at all times during the term of this Agreement
will continue to have, beneficial ownership of, good and valid title to and full and exclusive power to deliver written consents, vote,
issue instructions with respect to the matters set forth in Article II, agree to all of the matters set forth in this Agreement and to
Transfer the Shares. The Existing Shares constitute all of the shares of the Company owned of record or beneficially by the Holders as
of the date hereof. There are no agreements or arrangements of any kind, contingent or otherwise, to which the Holders are a party presently
obligating the Holders to Transfer or cause to be Transferred to any person any of the Shares, and no person presently has any contractual
or other right or obligation to purchase or otherwise acquire any of the Shares.

 

(b) Organization;
Authority. Each of the Holders that is a body corporate is a corporation duly organized, validly existing and in good standing under
the Laws of their place of incorporation. Each of the Holders is not in violation of any of the provisions of the Holder’s certificate
of limited partnership, partnership agreement or comparable organizational documents, as applicable. Each of the Holders has full power
and authority and is duly authorized to make, enter into and carry out the terms of this Agreement and to perform its obligations hereunder.
This Agreement has been duly and validly executed and delivered by the Holders and (assuming due authorization, execution and delivery
by Purchaser) constitutes a valid and binding agreement of the Holders, enforceable against the Holders in accordance with its terms,
and no other action is necessary to authorize the execution and delivery by the Holders or the performance of the Holder’s obligations
hereunder.

 

(c) No
Violation. The execution, delivery and performance by the Holders of this Agreement will not (i) violate any provision of any statutory
law; (ii) violate any order, judgment or decree applicable to the Holders or any of their affiliates or (iii) conflict with, or result
in a breach or default under, any agreement or instrument to which the Holders or any of their affiliates is a party or any term or condition
of its certificate of limited partnership, partnership agreement or comparable organizational documents, as applicable, except where such
conflict, breach or default would not reasonably be expected to, individually or in the aggregate, have an adverse effect on the Holders’
ability to satisfy its obligations hereunder.

 

(d) Consents
and Approvals. The execution and delivery by the Holders of this Agreement does not, and the performance of the Holders’ obligations
hereunder will not, require the Holders or any of their affiliates to obtain any consent, approval, authorization or permit of, or to
make any filing with or notification to, any person or governmental Authority, except such filings and authorizations as may be required
under the Exchange Act and under the Holders’ organizational documents.

 

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Article V

MISCELLANEOUS

 

5.1 Disclosure.
The Holders hereby authorize the Purchaser and the Company to publish and disclose in any announcement or disclosure required by the SEC
and in the Registration Statement the Holders’ identity and ownership of the Shares and the nature of the Holders’ obligations
under this Agreement.

 

5.2 Termination.
This Agreement shall terminate at the earlier of (a) the date the Merger Agreement is terminated in accordance with its terms and (b)
the date on which the Merger is consummated (the “Termination Date”).

 

5.3 Amendment.
This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument
in writing specifically designated as an amendment hereto, signed on behalf of each of the parties in interest at the time of the amendment.

 

5.4 Extension;
Waiver. At any time prior to the Effective Time, the parties hereto, may, to the extent legally allowed, (a) extend the time for the
performance of any of the obligations or other acts of the other party hereto, (b) waive any inaccuracies in the representations and warranties
contained herein or in any document delivered pursuant hereto and (c) waive compliance with any of the agreements or contained herein.
Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in a written instrument signed
on behalf of such party, but such extension or waiver or failure to insist on strict compliance with an obligation, covenant, agreement
or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

 

5.5 Expenses.
All fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring
such fees or expenses, whether or not the Merger is consummated.

 

5.6 Notices.
All notices and other communications hereunder shall be in writing and shall be deemed duly given (a) on the date of delivery if delivered
personally, or if by facsimile or email, upon confirmation of receipt, (b) on the first (1st) business day following the date of dispatch
if delivered utilizing a next-day service by a recognized next-day courier or (c) on the earlier of confirmed receipt or the fifth (5th)
business day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid. All
notices hereunder shall be delivered to the addresses set forth below, or pursuant to such other instructions as may be designated in
writing by the party to receive such notice:

 

if to the Holders, to:

 

c/o DDC Enterprise
Limited

Room 3-6, 4/F,
Hollywood Center

233 Hollywood
Road

Sheung Wan, Hong
Kong 

Attn: Norma Chu
Ka Yin, Shareholders’ Representative

Email: norma@daydaycook.com

 

and

 

if to Purchaser,

 

Ace Global Business Acquisition
Ltd

6/F Unit B

Central 88, 88-98 Des Voeux
Road

Central, Hong Kong

Attn: Eugene Wong

Email: eugene@aceglobal-acq.com

  

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5.7 Interpretation.
The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent
or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof
shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. When a reference is made
in this Agreement to Articles or Sections, such reference shall be to an Article or Section of this Agreement unless otherwise indicated.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement,
they shall be deemed to be followed by the words “without limitation.” References to “the date hereof” shall mean
the date of this Agreement. As used in this Agreement, the “knowledge” of the Holders means the actual knowledge of
the Holders or any officer of the Holders that are a body corporate, if applicable, after due inquiry, and the “knowledge”
of Purchaser means the actual knowledge of any of the officers of Purchaser after due inquiry. As used herein, (a) “business
day” means any day other than a Saturday, a Sunday or a day on which banks in New York, New York or Hong Kong are authorized
by Law or executive order to be closed, (b) the term “person” means any individual, corporation (including not-for-profit),
general or limited partnership, limited liability company, joint venture, estate, trust, association, organization, governmental Authority
or other entity of any kind or nature, and (c) an “affiliate” of a specified person is any other person that directly,
or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, such specified person; provided, however,
that solely for purposes of this Agreement, notwithstanding anything to the contrary set forth herein, neither the Company nor any of
its Subsidiaries shall be deemed to be a Subsidiary or affiliate of the Holders; provided, further, that, for
the avoidance of doubt, any general partner of a Holder shall be deemed an affiliate that Holder; and provided, further,
that an affiliate of the Holders shall include any investment fund, vehicle or holding company of which an affiliate serves as the general
partner, managing member or discretionary manager or advisor; and provided, further, that, notwithstanding the
foregoing, an affiliate of the Holders shall not include any portfolio company or other investment of the Holders or any affiliate of
the Holders.

 

5.8 Counterparts.
This Agreement may be executed in two or more counterparts (including by facsimile or other electronic means), all of which shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each of the parties and delivered to the other
party, it being understood that all parties need not sign the same counterpart.

 

5.9 Entire
Agreement. This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement among
the parties and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject
matter hereof.

 

5.10 Waiver
of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR OTHER PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT: (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF ANY ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED
THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.10.

 

5.11 Governing
Law; Jurisdiction.

 

(a) This
Agreement shall be governed and construed in accordance with the laws of the State of New York, without regard to any applicable conflicts
of law.

 

(b) Each
party agrees that it will bring any action or proceeding in respect of any claim arising out of or related to this Agreement or the transactions
contemplated hereby exclusively in the Specified Courts, and, solely in connection with claims arising under this Agreement or the transactions
that are the subject of this Agreement, (i) irrevocably submits to the exclusive jurisdiction of the Specified Courts, (ii) waives any
objection to laying venue in any such action or proceeding in the Specified Courts, (iii) waives any objection that the Specified Courts
are an inconvenient forum or do not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such
action or proceeding will be effective if notice is given in accordance with Section 5.6.

 

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5.12 Assignment.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether
by operation of law or otherwise) without the prior written consent of the other party. Any purported assignment in contravention hereof
shall be null and void. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable
by the parties and their respective successors and assigns.

 

5.13 Specific
Performance. The parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in
accordance with its specific terms or were otherwise breached. Accordingly, the parties shall be entitled to specific performance of the
terms of this Agreement, including an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance
of the terms and provisions hereof (including the Holder’s obligation to deliver the Shareholder Written Consent), in addition to
any other remedy to which they are entitled at law or in equity. Each of the parties hereby further waives (a) any defense in any action
for specific performance that a remedy at law would be adequate and (b) any requirement under any law to post security or a bond as a
prerequisite to obtaining equitable relief.

 

5.14 Severability.
Whenever possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable Law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal or unenforceable
in any respect under any applicable Law in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction
such that the invalid, illegal or unenforceable provision or portion thereof shall be interpreted to be only so broad as is enforceable.

 

5.15 Delivery
by Facsimile or Electronic Transmission. This Agreement and any signed agreement or instrument entered into in connection with this
Agreement, and any amendments or waivers hereto or thereto, to the extent signed and delivered by means of a facsimile machine or by e-mail
delivery of a “.pdf” format data file, shall be treated in all manner and respects as an original agreement or instrument
and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No
party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or e-mail delivery of a “.pdf”
format data file to deliver a signature to this Agreement or any amendment hereto or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or e-mail delivery of a “.pdf” format data file as
a defense to the formation of a contract and each party hereto forever waives any such defense.

 

[Signature Page Follows]

 

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IN
WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed or caused this Agreement to be executed in counterparts,
all as of the day and year first above written.

 

	 	
    ACE GLOBAL BUSINESS ACQUISITION LTD

    

	 	 	 
	 	By:	 
	 	Name: 	Eugene Wong
	 	Title:	Chief Executive Officer

 

[Signature Page to the Shareholder Support Agreement]

 

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	 	Alibaba Hong Kong Entrepreneurs Fund, L.P.
	 	acting by its general partner
	 	 
	 	Name:  	TANG Chibo
	 	Title:	Authorized Signatory

 

[Signature Page to the Shareholder Support Agreement]

 

    7

     

    

 

	 	 
	 	Name: 	Alexander Lanson Lin

 

[Signature
Page to the Shareholder Support Agreement]

 

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	 	MFund, L.P.
	 	acting by its general partner
	 	 
	 	 
	 	Name:	 
	 	Title:	Authorized Signatory

 

[Signature Page to the Shareholder Support Agreement]

 

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EXHIBIT A

 

DDC ENTERPRISE LIMITED 

 

Written Consent
of a Requisite Majority of the Shareholders of DDC Enterprise Limited

Pursuant to Section 2.07 of the Amended and Restated Shareholders’ Agreement dated 5 February 2021 of DDC Enterprise Limited

 

The
undersigned shareholders (the “Consenting Holders”) of DDC Enterprise Limited, a Cayman Islands Company (the “Company”),
being a Requisite Majority of the shareholders of the Company (the “Shareholders”, each a “Shareholder”),
hereby irrevocably consents in writing to the following actions and the adoption of the following resolutions without a meeting of shareholders:

 

WHEREAS,
the Company has entered into a Share Exchange Agreement (the “Merger Agreement”), dated as of August____, 2021, by
and among, the Company, Norma Chu Ka Yin, as the representative of the Shareholders (the “Shareholders’ Representative”),
and Ace Global Business Acquisition Ltd, a British Virgin Islands company (“the “Purchaser”), a copy of which
has been provided to the undersigned Consenting Holders and is attached hereto as Annex A (capitalized terms used but
not defined herein shall have the meanings set forth in the Merger Agreement);

 

WHEREAS,
pursuant to the Merger Agreement, among other things, the Company shall become a wholly owned Subsidiary of Purchaser and the shareholders
of the Company shall be issued certain numbers of shares of the Purchaser (the “Merger”);

 

WHEREAS,
the Company’s Board of Directors has (i) determined that the Merger is fair to, and in the best interests of, the Company and its
shareholders, (ii) approved the Merger, (iii) approved and declared advisable entry into the Merger Agreement and the transactions contemplated
thereby and (iv) subject to the terms and conditions set forth in the Merger Agreement, resolved to recommend the approval of the Merger
Agreement to the Company’s shareholders;

 

WHEREAS,
a Registration Statement has been filed by Purchaser with the SEC pursuant to which the offer and sale of Purchaser Ordinary Shares issuable
in the Merger are being registered with the SEC, which Registration Statement contains the shareholder written consent statement, and
has become effective;

 

WHEREAS,
pursuant to Sections 2.07 and 4.04 of the Amended and Restated Shareholders’ Agreement dated 5 February 2021 of the Company (the
“SHA”), the Merger Agreement must be adopted by the holders of shares representing a Requisite Majority (as defined
in the SHA);

 

WHEREAS,
upon the execution and delivery of this written consent, the requisite shareholder approval for approving the Merger Agreement and the
transactions contemplated thereunder shall have been obtained in accordance with the SHA and the Company’s Amended and Restated
Memorandum and Articles of Association;

 

NOW,
THEREFORE, BE IT RESOLVED, that the Merger Agreement, the Merger and the transactions contemplated thereby are hereby adopted
and approved by the Consenting Holders with the same force and effect as if the Shareholders had taken such action at a meeting of the
shareholders of the Company;

 

FURTHER
RESOLVED, signatures to this Written Consent transmitted by facsimile or PDF copy shall be deemed original signatures for all
purposes, and such execution and transmission shall be considered valid, binding and effective for all purposes.

 

This
Written Consent shall be effective as of the execution and delivery of this Written Consent in accordance with the terms of the Merger
Agreement, shall be filed with the book in which proceedings of meetings of the shareholders of the Company are recorded and shall be
treated for all purposes as action taken at a meeting.

 

[Signature page follows]

 

    10

     

    

 

IN WITNESS WHEREOF, the
undersigned has executed this Written Consent on this _____ day of _______ , 2021.

 

	 	[HOLDER]
	 	 
	 	By:	 
	 	Name: 	[●]
	 	Title:	[●]

 

    11

     

    

 

Annex A

 

Merger Agreement

 

 

12

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