Document:

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Exhibit 10.1
EXECUTION VERSION
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THIS PROMISSORY NOTE (THIS “NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.
PROMISSORY NOTE
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	Principal Amount: $1,000,000
	 
	Dated as of May 9, 2022

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Apollo Strategic Growth Capital II, a Cayman Islands exempted company, incorporated with limited liability (the “Maker”), promises to pay to the order of APSG Sponsor II, L.P., a Cayman Islands limited partnership, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of One Million Dollars ($1,000,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note. Maker and Payee are entering into this Note in connection with the Maker’s ongoing working capital needs.
1. Principal. The entire unpaid principal balance of this Note shall be payable on the earlier of: (i) the date on which Maker consummates an initial business combination or (ii) the liquidation of the Maker in accordance with its amended and restated memorandum and articles of association (such earlier date, the “Maturity Date”). The principal balance may be prepaid at any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.
2. Drawdown Requests. Maker and Payee agree that Maker may request, from time to time, up to One Million Dollars ($1,000,000) in draw downs under this Note to be used for costs and expenses related to Maker’s initial public offering of its securities (the “IPO”), operating expenses or initial business combination. Principal of this Note may be drawn down from time to time prior to the Maturity Date upon written request from Maker to Payee (each, a “Drawdown Request”), provided that each such
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Drawdown Request is duly authorized by an executive officer of Maker. Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later than three (3) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns outstanding under this Note at any time may not exceed One Million Dollars ($1,000,000). No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.
3. Interest. Interest shall accrue on the unpaid principal balance of this Note at a rate of 1.40% per annum.
4. Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges, then to accrued interest thereon to the date of such payment and finally to the reduction of the unpaid principal balance of this Note.
5. Events of Default. The following shall constitute an event of default (“Event of Default”):
(a) Failure to Make Required Payments. Failure by Maker to pay the principal amount and accrued interest due pursuant to this Note within five (5) business days of the Maturity Date.
(b) Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.
(c) Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.
6. Remedies.
(a) Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid interest and principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
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expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.
(b) Upon the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.
7. Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.
8. Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.
9. Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered (i) personally or sent by first class registered or certified mail, overnight courier service, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the day of receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.
10. Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.
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11. Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
12. Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants issued in a private placement that occurred prior to the consummation of the IPO were deposited, as described in greater detail in the registration statement on Form S-1 (Reg. No. 333-251920) filed by the Maker with the Securities and Exchange Commission and declared effective on February 9, 2021, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.
13. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker, Payee and APSG Sponsor II, L.P.
14. Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be void.
[Signature page follows]
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IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.
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	APOLLO STRATEGIC GROWTH CAPITAL II 

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	By:
	 
	/s/ James Crossen

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	Name: James Crossen

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	Title: Chief Financial Officer

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Accepted and agreed this 9th day of May, 2022
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	APSG SPONSOR II, L.P.
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By: AP Caps II Holdings GP, LLC, its general partner
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By: Apollo Principal Holdings III, L.P., its managing member
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By: Apollo Principal Holdings III GP, Ltd., its general partner
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	By:
	 
	/s/ James Elworth

	Name:
	 
	James Elworth

	Title:
	 
	Vice President

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DRAWDOWN REQUEST
Dated: May 9, 2022
APSG Sponsor II, L.P., as Payee under that 
certain Promissory Note referred to below
9 West 57th Street, 43rd Floor
New York, NY 10019
Ladies and Gentlemen:
The undersigned (the “Maker”), refers to the Promissory Note, dated as of May 9, 2022 (as amended, restated, modified and/or supplemented from time to time, the “Promissory Note”), made by the Maker in favor of APSG Sponsor II, L.P., and hereby gives you notice, irrevocably, pursuant to Section 9 of the Promissory Note, that the undersigned hereby requests a drawdown under the Promissory Note, and in that connection sets forth below the information relating to such borrowing (the “Borrowing”):
(i)The business day of the Borrowing is May 9, 2022.
(ii)The aggregate principal amount of the Borrowing is $1,000,000.
(iii)The proceeds from the Borrowing will be used as set forth in Section 2 of the Promissory Note.
The undersigned certifies that no Event of Default (as defined in the Promissory Note) has occurred and is continuing, or would result from such Borrowing or from the application of the proceeds thereof.
IN WITNESS WHEREOF, the undersigned hereby has executed this Drawdown Request as of the date first written above.
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	Very truly yours,

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	APOLLO STRATEGIC GROWTH CAPITAL II

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	By:

	/s/ James Crossen

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	Name: James Crossen

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	Title: Chief Financial Officer

​Exhibit
10.15

 

CONSULTING
AGREEMENT

 

This
Consulting Agreement (the “Agreement”) is made as of April 8, 2021 (the “Effective Date”) by and between
Alset EHome International Inc., a Delaware corporation (the “Company”), and CA Global Consulting Inc., a New
York company (the “Consultant”).

 

In
consideration of the services to be rendered, the mutual covenants set forth herein and for other valuable consideration, receipt and
adequacy of which is acknowledged, the Company and the Consultant agree to the following terms:

 

1.
Term. This Agreement shall commence as of the Effective Date and shall remain in force until it is being terminated by the Company
or the Consultant. Either the Company or the Consultant may terminate this Agreement, with or without cause, upon fifteen days’
advance written notice to the other, unless otherwise mutually agreed upon.

 

2.
Consulting Services. The Consultant, through Mr. Anthony S Chan, CPA, will provide certain CFO advisory services as directed and
prioritized by the Company; and Mr. Chan will report directly to the Company’s Chairman and CEO (Mr. Chan Heng Fai) or his designee.
Based on instructions provided by the Company, the Consultant will liaise with the Company’s Chairman and CEO, senior management,
legal counsel, the Company’s auditor and coordinate with relevant Company’s personnel or professionals during the term of
this Agreement. The scope of the Consulting Services will be directed by the Company, and it may include: (a) the enhancement of the
Company’s compliance, risk management, finance and SEC reporting functions; (b) the completion of the Company’s 2020 year-end
audit; (c) the filing of the Company’s 2020 annual report on Form 10-K; (d) the development of relevant internal control policies
and procedures; and (e) the refinement of the Company’s corporate presentation as well as its investor relations strategy.

 

3.
Independent Contractor. It is the express intention of the parties that the Consultant is an independent contractor and not an
employee, agent, joint venture partner or representative of the Company. Nothing in this Agreement shall be interpreted or construed
as creating or establishing the relationship of employer and employee. Both parties acknowledge that Consultant is not an employee for
state or federal tax purposes.

 

4.
Method of Performing Services. The Company and Consultant will determine the method, details, and means of performing the above-described
services. Consultant agrees that services to be performed will be conducted in a professional and competent manner in conformity with
this Agreement and the Code of Ethics issued by the Company. In providing the services hereunder, the Consultant will comply with all
applicable laws, rules, regulations and standards of any public authority having jurisdiction.

 

5.
Consulting Fees. The Company agrees to pay Consultant a monthly fee of $12,000 which amount must be paid within three business
days upon receipt of the Consultant’s monthly invoice.

 

6.
Ownership of Work Products; Representations and Indemnification.

 

6.1.
The Consultant agrees that it will not incorporate into any work performed for the Company any trade secrets, confidential information,
or other information that could violate any third party’s rights, and represents that it will not employ any persons to assist
or work on the Company’s products.

 

6.2.
The Consultant certifies that the Consultant has no outstanding agreements or obligations that would conflict with any of the provisions
of this Agreement, or that would preclude Consultant from complying with the provisions of this Agreement.

 

    	CA Global Consulting Inc.	 	Page 1 of 5

    	 

    

 

6.3.
The Company agrees that all work products (including, but not limited to notes, schedules, analyses, presentations, records, drawings,
designs, inventions, improvements, developments, discoveries, trade secrets, copyrightable material, as well as all derivatives and modifications
thereof and thereto (collectively, the “Consultant Inventions”) conceived of, made or discovered by the Consultant, solely
or in collaboration with others, which are created prior to the consulting services to be performed by the Consultant pursuant to this
Agreement, as well as any and all intellectual property rights therein and thereto, are the sole property of the Consultant. The Company
agrees to pay the Consultant at a consideration agreed by parties for the Company be authorized to use the Consultant Inventions and
any intellectual property rights relating thereto.

 

7.
Taxes. The Consultant is responsible for paying all required taxes applicable to its jurisdiction. In particular, the Company
will not make unemployment insurance contributions, withhold income taxes, make disability insurance contributions or obtain workers’
compensation insurance on behalf of Consultant or any of Consultant’s employees or subcontractors.

 

8.
No Privileges for Consultant. The Consultant understands and agrees that the Consultant shall not be entitled to any of the rights
and privileges of the Company’s employees, including, but not limited to retirement benefits, medical insurance coverage, life
insurance coverage, disability insurance coverage, severance pay benefits, paid vacation and sick pay or overtime pay.

 

9.
Payment of Expenses. In addition to the Consulting Fees to be paid to the Consultant pursuant to Section 5 above, the Company
shall pay Consultant its actual out-of–pocket expenses reasonably incurred by the Consultant in furtherance of its performance
hereunder including, without limitation, amounts incurred for travel and anything required to meet his deliverables under this Agreement.
The Consultant shall submit supporting receipts for reimbursement, per the Company’s expense reimbursement procedure and guideline.

 

10.
Time Devoted to Company. The Consultant agrees to devote a reasonable amount of time necessary to perform the services under this
Agreement. As agreed by the Company, the Consultant may perform services for, and be employed by such additional persons or companies
as an independent contractor or employee, so long as such services do not materially interfere with the Consulting Services to be rendered
by Consultant pursuant to this Agreement.

 

11.
Hours During Which Services May Be Performed. The Consultant shall perform the Consulting Services under this Agreement at any
suitable time and location that the Consultant sees fit, provided that Consultant will also attend status update or planning calls or
meetings or other conference calls as may be reasonably requested by the Company.

 

12.
Assignment of Consultant’s Duties. This Agreement may not be assigned by this Consultant without the prior written consent
of the Company.

 

13.
Restrictions on Insider Trading. The Consultant acknowledges that the United States securities laws prohibit any person who has
material, non-public information concerning the Company from purchasing or selling securities of the Company or from communicating such
information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell
such securities. The Consultant agrees that it will not violate any provisions of this paragraph or the United States securities laws
or the analogous laws of any state or foreign government, until such time as this Agreement has terminated and Consultant has ceased
having access to any confidential information.

 

    	CA Global Consulting Inc.	 	Page 2 of 5

    	 

    

 

14.
Confidentiality and Non-Disclosure. The Consultant understands that the Consultant’s consulting engagement by the Company
creates a relationship of confidence and trust with respect to any information of a confidential or secret nature that may be disclosed
to the Consultant by the Company or a third party that relates to the business of the Company or to the business of any parent, subsidiary,
affiliate, customer or supplier of the Company or any other party with whom the Company agrees to hold information of such party in confidence
(the “Proprietary Information”). Such Proprietary Information includes, but is not limited to, assigned inventions, marketing
plans, product plans, business strategies, financial information, forecasts, personnel information, customer lists and data, and domain
names. At all times, both during the term of this Agreement and for two years after its termination, the Consultant will keep and hold
all such Proprietary Information in strict confidence and trust. The Consultant will not use or disclose any Proprietary Information
without the prior written consent of the Company, except as may be required by laws. Upon termination of this Agreement, the Consultant
will promptly deliver to the Company all documents and materials of any nature pertaining to the Consultant’s work with the Company
and, upon the Company’s request, will execute a document confirming the Consultant’s agreement to honor the Consultant’s
responsibilities contained in this Agreement. The Consultant will not retain any documents or materials or copies thereof containing
any Proprietary Information.

 

15.
Expiration of Agreement. Unless otherwise terminated or extended as provided herein, this Agreement shall commence as of the Effective
Date above and it shall terminate upon written notice as described in Section 1 or occurrence of certain events as described in Section
16 of this Agreement.

 

16.
Termination. Notwithstanding any other term contained herein, this Agreement shall be terminated immediately by either party upon
a breach by the other party of any of the terms in this Agreement.

 

16.1.
Termination on the Occurrence of Stated Events. This Agreement shall terminate automatically on the occurrence of any of the following
events:

 

	 	(i)	Bankruptcy
    or insolvency of either party; or
	 	(ii)	Dissolution
    of either party.
	 	(iii)	Upon
    thirty days written notice by the Company or by the Consultant.

 

16.2.
Termination without Cause. Notwithstanding anything to the contrary in this Agreement, either party may terminate this Agreement
at any time upon fifteen days written notice to the other party for any reason, without cause.

 

16.3.
Effect of Termination. Notwithstanding anything else contained in this Agreement, termination of this Agreement shall not affect
the Company’s obligation to pay the Consultant for Consulting Services rendered and expenses incurred by the Consultant through
the date of termination.

 

    	CA Global Consulting Inc.	 	Page 3 of 5

    	 

    

 

17. Notices.
All notices or other communications required or permitted hereunder shall be in writing (except as otherwise provided herein) and
shall be deemed duly given when received by delivery in person, by email or by an overnight courier service:

 

	 	If
    to the Company:	Alset
    EHome International Inc.
	 	 	4800
    Montgomery Lane, Suite 210
	 	 	Bethesda,
    Maryland 20814

 

	 	If
    to the Consultant:	CA
    Global Consulting Inc.

 

or
to such other addresses as a party may designate by five days’ prior written notice to the other party.

 

18.
Entire Agreement; Modification. This Agreement supersedes any and all agreements, either oral or written, between the parties
hereto with respect to the rendering of services by the Consultant for the Company and contains all of the covenants and agreements between
the parties with respect to the rendering of such services in any manner whatsoever. Each party to this Agreement acknowledges that no
representations, inducements, promises, or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of
any party, which are not embodied herein, and that no other agreement, statement, or promise not contained in this Agreement shall be
valid or binding. Any modification, amendment or waiver of this Agreement will be effective only if it is in writing signed by the party
to be charged.

 

19.
Partial Invalidity. If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable,
the remaining provisions will nevertheless continue in full force without being impaired or invalidated in any way.

 

20.
Arbitration. Disputes arising under this Agreement shall be settled by one arbitrator pursuant to the rules of the American Arbitration
Association (the “AAA”) for Commercial Arbitration (the “Rules”). Such arbitration shall be held in the State
of New York, or at such other location as mutually agreed to by the parties to the dispute. Any award of the arbitrator shall be accompanied
by a written opinion giving the reasons for the award. The determination of the arbitrator pursuant to this Section 20 shall be final
and binding on the parties and may be entered for enforcement before any court of competent jurisdiction.

 

21.
Attorneys’ Fees; Prejudgment Interest. If the services of an attorney are required by any party to secure the performance
hereof or otherwise upon the breach or default of another party to this Agreement, or if any judicial remedy or arbitration is necessary
to enforce or interpret any provision of this Agreement or the rights and duties of any person in relation thereto, the prevailing party
shall be entitled to reasonable attorneys’ fees, costs and other expenses, in addition to any other relief to which such party
may be entitled. Any award of damages following judicial remedy or arbitration as a result of the breach of this Agreement or any of
its provisions shall include an award of prejudgment interest from the date of the breach at the maximum amount of interest allowed by
law.

 

22.
Authority. Each undersigned party to this Agreement represents and warrants that it is fully authorized and empowered to enter
into this Agreement and that the performance of its obligations under this Agreement will not violate any agreement between such party
and any other person, firm or organization.

 

23.
Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York, without
regard to its conflict of laws principles.

 

    	CA Global Consulting Inc.	 	Page 4 of 5

    	 

    

 

24.
Counterparts. This Agreement may be executed in one or more counterparts, each of which, shall be deemed to be an original, but
all of which together shall constitute one and the same instrument. For the purpose of proving the authenticity of this Agreement, facsimile
signature shall be treated the same as original signatures.

 

WITNESS
WHEREOF, the parties have caused this Agreement to be executed by their duly authorized agents.

 

COMPANY

 

	Alset
    EHome International Inc.	 
	 	 
	/s/
    Chan Heng Fai	 
	Chan
    Heng Fai, Chairman and CEO	 
	 	 
	CONSULTANT	 
	 	 
	CA
    Global Consulting Inc.	 
	 	 
	/s/
    Anthony S. Chan	 
	Anthony
    S Chan, CPA, President	 

 

    	CA Global Consulting Inc.	 	Page 5 of 5

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