Document:

Exhibit
10.5

 

INVESTMENT
AGREEMENT

 

This
Investment Agreement (this “Agreement”), dated as of December __, 2021, is by and, except as otherwise indicated,
among (i) Sagaliam Acquisition Corp. (the “SPAC”), (ii) Sagaliam Sponsor LLC, a Delaware limited liability company,
(the “Sponsor”), and (iii) [●] (the “Investor”).

 

WHEREAS,
in connection with the initial public offering (the “IPO”) of units of the SPAC, Investor has expressed an interest
in acquiring up to 990,000 units in the IPO (with each such unit comprised of one share of Class A common stock, par value $0.0001 per
share, of the SPAC (the “Class A Common Stock”) and one right to receive one-eighth (1/8) of one share of Common Stock
upon consummation of SPAC’s initial business combination (the “Rights”), which shall not exceed 9.9% of the
number of such units and/or the number of shares of the Class A Common Stock underlying the units to be offered (excluding the over-allotment
option) (the “IPO Indication”), at a price of $10.00 per unit.

 

WHEREAS,
the parties wish to enter into this Agreement pursuant to which Investor will purchase from the Sponsor Class B common stock, par value
$0.0001 per share, of the SPAC (the “Founder Shares”), which is convertible into shares of the Class A Common Stock
pursuant to the terms set out in the Registration Statement (as defined herein), for the same value paid by the Sponsor, or approximately
$0.0029 per share.

 

NOW,
THEREFORE, the parties hereby agree as follows:

 

		1.	Sale
                                            and Purchase. 

 

		(a)	In
                                            connection with the IPO Indication, and subject to the satisfaction of the conditions set
                                            forth in Section 1(c), the Sponsor hereby agrees to sell to Investor 20,000 Founder Shares
                                            (such shares, the “Transferred Shares”) for an aggregate purchase price
                                            of $58 ($0.0029 per share) (the “Transfer Price”) on the date of the closing
                                            of the IPO, and Investor hereby agrees to purchase the Transferred Shares (the “Transfer”).
                                            Concurrently with the Transfer, in consideration for the transfer of the Transferred Shares,
                                            Investor shall pay the Transfer Price to the Sponsor in immediately available funds.
	 	 	 
		(b)	Notwithstanding
                                            anything to the contrary herein, the Investor (and its affiliates or any other persons with
                                            which it is acting in concert) shall not be entitled to convert (or cause to be converted)
                                            the Transferred Shares to shares of the Class A Common Stock, from and after the date of
                                            this Agreement, without the prior written consent of the SPAC, to the extent such conversion
                                            would result in such Investor becoming, directly or indirectly, the beneficial owner of more
                                            than 9.9% of Class A Common Stock for the purposes of beneficial ownership under the Securities
                                            Exchange Act of 1934, as amended. Notwithstanding the foregoing, this Section 1(b) shall
                                            not be applicable (and no prior written consent shall be required by the SPAC) in connection
                                            with conversions of the Transferred Shares by the Investor that would not result in the Investor
                                            becoming the beneficial owner of more than 9.9% of the Class A Common Stock.
	 	 	 
		(c)	Subject
                                            to (i) the fulfillment by Investor (but only to the extent actually allocated to Investor
                                            by the underwriters) of the IPO Indication (which shall include the acquisition of 100% of
                                            the units of the SPAC allocated to Investor by the underwriters in the IPO, which number
                                            of allocated units shall not be greater than 9.9% of the units offered in the IPO (exclusive
                                            of any units that may be issued pursuant to the underwriters’ over-allotment option)
                                            or greater than the IPO Indication) and (ii) Investor’s payment of the Transfer Price
                                            as contemplated by Section 1(a) of this Agreement, the Transfer shall occur and be
                                            effective upon the closing of the IPO, automatically and without any action of any other
                                            party hereto. The parties intend that the purchase of the Transferred Shares contemplated
                                            by this Agreement be treated as a taxable sale and purchase of the Transferred Shares that
                                            is governed by Section 1001 of the Internal Revenue Code of 1986, as amended, and agree not
                                            to take any tax reporting position inconsistent with this agreed tax treatment. In the event
                                            the Investor is provided with an opportunity to participate in an overallotment exercise
                                            or purchase more than 990,000 units in the IPO (9.9% of 10,000,000 units), it shall first
                                            be provided with the opportunity to purchase additional Transferred Shares in a manner proportional
                                            to any increase above 990,000 units at $0.0029 per additional Transferred Share. The Transferred
                                            Shares shall not be reduced should the Investor be allocated less than the IPO Indication.

 

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		(d)	Notwithstanding
                                            anything to the contrary herein, the number of Transferred Shares shall not be subject to
                                            share price or other vesting triggers, claw-back, cut-back, reduction, mandatory repurchase,
                                            redemption or forfeiture for any reason, including but not limited to (i) transfer of the
                                            Founder Shares to any person, (ii) downsizing of the offering, (iii) failure of the underwriters
                                            to exercise their green shoe option, (iv) concessions or “earn-out” triggers
                                            in connection with the negotiation of a Business Combination or otherwise (as defined below),
                                            or (v) any other event or modification, without the Investor’s prior written consent.
	 	 	 
		(e)	The
                                            obligations of Investor hereunder are subject to there being no material change in the pricing
                                            of the IPO or in the structure, terms and conditions in the capital structure of the SPAC
                                            from that set forth in the Registration Statement on Form S-1 filed with the United States
                                            Securities and Exchange Commission on May 25, 2021, as amended from time to time (the “Registration
                                            Statement”).
	 	 	 
		(f)	In
                                            the event the IPO does not occur by December 31, 2021, this Agreement shall terminate and
                                            be of no further force and effect unless agreed in writing by the parties hereto.
	 	 	 
		(g)	The
                                            parties hereto acknowledge that in the event the Investor or its affiliates do not submit
                                            the IPO Indication, the Sponsor and the SPAC’s only remedy with respect thereto shall
                                            be the forfeiture of the Investor’s Transferred Shares.

 

		2.	Representations
                                            and Warranties of the SPAC. The SPAC hereby represents and warrants to Investors, as
                                            of the date hereof and as of the closing date of the IPO, as follows:

 

		(a)	The
                                            SPAC is duly organized and in good standing under the laws of the State of Delaware and has
                                            full power and authority to carry on its business as presently conducted and as proposed
                                            to be conducted and execute and deliver this Agreement, to perform its obligations hereunder
                                            and to consummate the transactions contemplated hereby.
	 	 	 
		(b)	This
                                            Agreement has been duly and validly executed and delivered by the SPAC and constitutes a
                                            legal, valid and binding obligation of the SPAC enforceable against the SPAC in accordance
                                            with its terms.
	 	 	 
		(c)	The
                                            execution and delivery of this Agreement, the consummation of the transactions contemplated
                                            hereby and the performance of its obligations hereunder will not materially conflict with,
                                            or result in any material violation of or default under, the SPAC’s organizational
                                            documents, any agreement or other instrument to which the SPAC is a party or by which the
                                            SPAC is bound, or any decree, order, statute, rule or regulation applicable to the SPAC or
                                            the Transferred Shares.
	 	 	 
		(d)	None
                                            of the information conveyed to the Investor in connection with the transactions contemplated
                                            by the Agreement will constitute material non-public information of the SPAC upon the effectiveness
                                            of the Registration Statement.
	 	 	 
		(e)	No
                                            governmental, administrative or other third-party consents or approvals are required by or
                                            with respect to the SPAC in connection with the execution and delivery of this Agreement
                                            and the consummation of the transactions contemplated hereby.
	 	 	 
		(f)	All
                                            information contained in the questionnaires (“Questionnaires”) completed
                                            by each of the SPAC’s officers, directors and the Sponsor (collectively, the “Insiders”)
                                            and provided to the underwriters and their counsel and the biographies of the Insiders contained
                                            in the Registration Statement and prospectus (to the extent a biography is contained) is
                                            true and correct and the SPAC has not become aware of any information which would cause the
                                            information disclosed in the Questionnaires completed by each Insider to become inaccurate,
                                            incorrect or incomplete. There is no action, suit, proceeding, inquiry, arbitration, investigation,
                                            litigation or governmental proceeding pending, or to the SPAC’s knowledge, assuming
                                            reasonable inquiry, threatened against or involving the SPAC or, to the SPAC’s knowledge,
                                            assuming reasonable inquiry, any Insider or any stockholder or member of an Insider that
                                            has not been disclosed, that is required to be disclosed, in the Registration Statement,
                                            the prospectus or the Questionnaires.
	 	 	 
		(g)	The
                                            Founder Shares, when issued to the Sponsor, were validly issued, fully paid and non-assessable,
                                            free and clear of all liens or other restrictions (other than those arising under applicable
                                            securities laws or as otherwise disclosed in the Registration Statement) and were not issued
                                            in violation of, or subject to, any preemptive or similar rights.

 

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		3.	Representations
                                            and Warranties of the Sponsor. The Sponsor hereby represents and warrants and covenants
                                            to Investors, as of the date hereof and as of the closing date of the IPO, as follows:

 

		(a)	The
                                            Sponsor is duly formed and validly existing as a limited liability company in good standing
                                            under the laws of the State of Delaware and has full power and authority to execute and deliver
                                            this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated
                                            hereby.
	 	 	 
		(b)	This
                                            Agreement has been duly and validly executed and delivered by the Sponsor and constitutes
                                            a legal, valid and binding obligation of the Sponsor enforceable against the Sponsor in accordance
                                            with its terms.
	 	 	 
		(c)	The
                                            execution and delivery of this Agreement, the consummation of the transactions contemplated
                                            hereby and the performance of its obligations hereunder will not materially conflict with,
                                            or result in any material violation of or default under, any of the Sponsor’s organizational
                                            documents or any agreement or other instrument applicable to the Transferred Shares or to
                                            which the Sponsor is a party or by which the Sponsor is bound, or any decree, order, statute,
                                            rule or regulation applicable to the Sponsor or the Transferred Shares.
	 	 	 
		(d)	No
                                            governmental, administrative or other third-party consents or approvals are required by or
                                            with respect to the Sponsor in connection with the execution and delivery of this Agreement
                                            and the consummation of the transactions contemplated hereby.
	 	 	 
		(e)	The
                                            terms, rights and conditions set forth in this Agreement are as favorable to the Investor
                                            as the terms, rights and conditions granted to all other investors in connection with expressing
                                            an interest in the IPO or otherwise acquiring Founder Shares in connection with the IPO (each
                                            such other investor, an “Anchor Investor”), provided that the Investor
                                            acknowledges that Founders Shares have been offered to the Sponsor, executive officers, advisors,
                                            directors and director nominees of the SPAC in connection with their service and the Sponsor
                                            expressly reserves the right to issue membership interests in the Sponsor in its sole discretion.
                                            In the case that another Anchor Investor is afforded more favorable terms than Investor,
                                            the Sponsor shall promptly notify Investor of such more favorable terms, and Investor shall
                                            have the right to elect to have such more favorable terms, so as to be on the same terms,
                                            in which case the parties hereto shall promptly amend this Agreement to effect the same.
                                            For the avoidance of doubt, if any other Anchor Investor has an ability to purchase proportionately
                                            more Founder Shares relative to its expression of interest in the IPO than the Investor as
                                            set forth on the signature page hereto, then such other Anchor Investor shall be considered
                                            to have more favorable terms than the Investor.
	 	 	 
		(f)	The
                                            Sponsor is the beneficial owner of the Transferred Shares. Except as described in this Agreement
                                            or in the Registration Statement, there is no agreement, arrangement or understanding with
                                            any other person regarding the sale or transfer of any Transferred Shares, and there exist
                                            no liens, pledges, security interests, claims, options, proxies, voting agreements, charges
                                            or encumbrances of any kind affecting the Transferred Shares, other than any restrictions
                                            on transfer that may be imposed by any applicable statute, law, ordinance, regulation, rule,
                                            code, order, common law, judgment, decree, other requirement or rule of law (“Applicable
                                            Law”) of any federal, state, local or foreign government or political subdivision
                                            thereof, or any agency or instrumentality of such government or political subdivision, or
                                            any self-regulated organization or other non-governmental regulatory authority or quasigovernmental
                                            authority, or any arbitrator, court or tribunal of competent jurisdiction (a “Governmental
                                            Authority”). Upon transfer of the Transferred Shares to the Investor in accordance
                                            with the terms hereof against payment of the Transfer Price, the Investor will acquire ownership
                                            of the Transferred Shares, free and clear of all liens, pledges, security interests, claims,
                                            options, proxies, voting agreements, charges or encumbrances of any kind affecting the Transferred
                                            Shares, other than any restrictions on transfer that may be imposed by Applicable Law. The
                                            sale by the Sponsor of the Founder Shares to the Investor will not result in a violation
                                            of Section 5 under the Securities Act of 1933, as amended (the “Securities Act”).

 

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		4.	Representations
                                            and Warranties of Investor. Investor hereby represents and warrants to the SPAC and the
                                            Sponsor, as follows:

 

		(a)	Investor
                                            has full power and authority to execute and deliver this Agreement and to perform its obligations
                                            hereunder.
	 	 	 
		(b)	This
                                            Agreement has been duly and validly executed and delivered by Investor and constitutes a
                                            legal, valid and binding obligation of Investor enforceable against Investor in accordance
                                            with its terms.
	 	 	 
		(c)	The
                                            execution and delivery of this Agreement, the consummation of the transactions contemplated
                                            hereby and the performance of its obligations hereunder will not materially conflict with,
                                            or result in any material violation of or default under, any of the Investor’s organizational
                                            documents, any agreement or other instrument to which Investor is a party or by which Investor
                                            is bound, or any decree, order, statute, rule or regulation applicable to Investor.
	 	 	 
		(d)	Investor
                                            is (i) a “qualified institution buyer” as that term is defined under Rule 144A
                                            of the Securities Act or (ii) an “accredited investor” as that term is defined
                                            in Regulation D under the Securities Act.

 

		5.	Additional
                                            Agreements and Acknowledgements of Investor. 

 

		(a)	Investor
                                            acknowledges that the SPAC was formed for the purpose of effecting a merger, share exchange,
                                            asset acquisition, share purchase, reorganization or similar business combination with one
                                            or more businesses or entities (a “Business Combination”). Investor agrees
                                            with the SPAC that if the SPAC seeks shareholder approval of a proposed Business Combination,
                                            then in connection with such proposed Business Combination, Investor shall (i) vote all Founder
                                            Shares in favor of such proposed Business Combination and (ii) not redeem any of such Founder
                                            Shares owned by it, him or her in connection with such stockholder approval. Notwithstanding
                                            the foregoing, nothing shall prevent the Investor from exercising its redemption rights and
                                            receiving distributions from the Trust Account for any shares of Class A Common Stock it
                                            acquires in the IPO (including the IPO Indication) or in the open market in accordance with
                                            the terms and conditions applicable to the shares of Class A Common Stock and the IPO described
                                            in the Registration Statement. Without written consent of the SPAC, the Investor agrees with
                                            the SPAC not to transfer, assign or sell any Transferred Shares or the Class A Common Stock,
                                            issuable upon conversion of the Transferred Shares held by it, until the earlier to occur
                                            of: (A) six months after the completion of a Business Combination and (B) subsequent to a
                                            Business Combination, (x) if the reported last sale price of the Class A common stock equals
                                            or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
                                            recapitalizations and the like) for any 20 trading days within any 30-trading day period
                                            commencing at least 150 days after the Business Combination, or (y) the date on which the
                                            SPAC completes a liquidation, merger, capital stock exchange or other similar transaction
                                            that results in all of its stockholders having the right to exchange their shares of common
                                            stock for cash, securities or other property; provided however, that the Investor
                                            shall be permitted to transfer, assign or sell all or a portion of the Transferred Shares
                                            to an affiliate (as such term is defined in Rule 144 promulgated under the Securities Act,
                                            as amended) of the Investor. The Transferred Shares directly or indirectly owned by the Investor
                                            will not be subject to additional lock-ups than detailed in this Section 5(a) or the Registration
                                            Statement. In addition, neither Sponsor nor any other holder of Founder Shares are being
                                            afforded more favorable lockup terms than those detailed in this Section 5(a), and if the
                                            Sponsor or any other holder of Founder Shares is given an early release or favorable modification
                                            of such lockup terms, the parties hereto agree that the Investor will receive the same treatment.
                                            For the avoidance of doubt, this Section 5 shall not restrict the Investor from transferring,
                                            assigning, redeeming or selling any Class A Common Stock, rights or units acquired in the
                                            IPO or in the open market.
	 	 	 
		(b)	Following
                                            the expiration of the transfer restrictions set forth in Section 5(a), if the Transferred
                                            Shares are eligible to be sold without restriction under, and without the SPAC being in compliance
                                            with the current public information requirements of, Rule 144 under the Securities Act, or
                                            if they have been registered for resale under the Securities Act, then at the Investor’s
                                            written request, the SPAC will use its best efforts to cause the SPAC’s transfer agent
                                            to remove any legend(s) to which the Transferred Shares are subject, subject to compliance
                                            by the Investor with the reasonable and customary procedures for such removal required by
                                            the SPAC or its transfer agent. In connection therewith, if required by the SPAC’s
                                            transfer agent, the SPAC will promptly cause an opinion of counsel to the SPAC to be delivered
                                            to and maintained with its transfer agent, together with any other authorizations, certificates
                                            and directions required by the transfer agent that authorize and direct the transfer agent
                                            to issue such Transferred Shares without any such legend(s).

 

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		(c)	Investor
                                            acknowledges that it is aware the SPAC will establish a trust account (the “Trust
                                            Account”) for the benefit of its public shareholders upon the closing of the IPO.
                                            Investor agrees with the SPAC that it has no right, title, interest or claim of any kind
                                            in or to any monies held in the Trust Account, or any other asset of the SPAC as a result
                                            of any liquidation of the SPAC with respect to the Transferred Shares; provided that
                                            nothing herein shall limit the Investor’s rights with respect to the Trust Account
                                            or any claims in respect of shares of Class A Common Stock purchased by Investor in the IPO
                                            or in the open market. With respect to the Transferred Shares, the waiver of claims on the
                                            assets of the Company held outside the Trust Account shall only apply to a liquidation of
                                            the Company prior to the consummation of its initial Business Combination, and not thereafter.
                                            Notwithstanding anything to the contrary contained in this Section 5(c) or otherwise (i)
                                            nothing shall prevent the Investor from redeeming any Class A Common Stock (including shares
                                            included in units) it purchases pursuant to the Registration Statement in the IPO or in the
                                            open market following the IPO (collectively, the “Purchased Public Unit Amount”)
                                            and (ii) the Investor does not waive any right title, interest or claim against the Trust
                                            Account (including any distributions therefrom) arising as a result of, in connection with
                                            or relating in any way to its purchase or ownership of the Purchased Public Unit Amount (including
                                            the IPO Indication and the shares of Common Stock and rights included therein and the shares
                                            of Common Stock issuable upon exercise of such rights) or any other security of the SPAC
                                            acquired in the open market (“Reserved Claims”) and is not prohibited
                                            from seeking recourse against the Trust Account with respect to any Reserved Claims.
	 	 	 
		(d)	In
                                            connection with the IPO, the SPAC shall enter into a registration rights agreement (the “Registration
                                            Rights Agreement”) as agreed by the Sponsor, Investor and certain other parties
                                            thereto in the form filed as an exhibit to the SPAC’s Registration Statement. The Registration
                                            Rights Agreement shall provide Investor with registration rights with respect to the Transferred
                                            Shares that are no less favorable to Investor than the registration rights of the Sponsor
                                            set forth therein. The Investor’s rights under the Registration Rights Agreement may
                                            not be subsequently terminated, amended, revised or otherwise modified without the Investor’s
                                            written consent.

 

		6.	Miscellaneous.

 

		(a)	Any
                                            notice or communication under this Agreement shall be in writing and given by (i) deposit
                                            in the United States mail, addressed to the party to be notified, postage prepaid and registered
                                            or certified with return receipt requested, (ii) recognized courier or overnight delivery
                                            service providing evidence of delivery, or (iii) transmission by hand delivery, electronic
                                            mail or facsimile, if to the SPAC or the Sponsor, to: 1800 Avenue of the Stars, Suite 1475,
                                            Los Angeles, CA 90067, Attention: Barry Kostiner, e-mail: barrykostiner@legacyea.com; and,
                                            if to the Investor, at the Investor’s address or contact information as set forth on
                                            the signature page attached hereto.
	 	 	 
		(b)	This
                                            Agreement shall be governed by the internal laws (and not the law of conflicts) of the State
                                            of New York.
	 	 	 
		(c)	This
                                            Agreement may not be amended, modified or waived without the written consent of the parties
                                            hereto. Notwithstanding the foregoing, the Investor may assign its rights and obligations
                                            under this Agreement to one or more of its affiliates, to other investment funds or accounts
                                            managed or advised by the investment manager who acts on behalf of the Investor or by an
                                            affiliate of such investment manager.
	 	 	 
		(d)	The
                                            parties hereto agree that irreparable damage may occur in the event any provision of this
                                            Agreement was not performed in accordance with the terms hereof and that the parties shall
                                            be entitled to seek specific performance of the terms hereof, in addition to any other remedy
                                            at law or equity or otherwise.
	 	 	 
		(e)	The
                                            rights and obligations under this Agreement may not be assigned by any party hereto without
                                            the prior written consent of the other parties.
	 	 	 
		(f)	From
                                            time to time, at the reasonable request of any of the other parties hereto, each party hereto
                                            shall execute and deliver such additional documents and instruments and take such further
                                            lawful action as may be necessary to consummate and make effective, in the most expeditious
                                            manner practicable, the transactions contemplated by this Agreement.

 

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		(g)	Any
                                            term or provision of this Agreement which is invalid or unenforceable shall be ineffective
                                            to the extent of such invalidity or unenforceability without rendering invalid or unenforceable
                                            the remaining rights of the person intended to be benefited by such provision or any other
                                            provisions of this Agreement.
	 	 	 
		(h)	This
                                            Agreement may be executed in two or more counterparts, each of which shall constitute an
                                            original, and all of which taken together shall constitute one and the same instrument. Any
                                            signature page delivered by a facsimile machine or electronic mail shall be binding to the
                                            same extent as an original signature page.
	 	 	 
		(i)	Notwithstanding
                                            anything to the contrary in this Agreement, Section 5(a), Section 5(b) and Section 5(c) shall
                                            only be enforceable against the Investor by the SPAC on its own behalf. For the avoidance
                                            of doubt and in accordance with their terms, Section 5(a), Section 5(b) and Section 5(c)
                                            are not enforceable by the Sponsor.
	 	 	 
		(j)	Except
                                            as may be required by law, regulation or applicable stock exchange listing requirements or
                                            judicial or administrative order, each of the Sponsor and the SPAC hereby agrees not to disclose
                                            (orally or in writing or by any other means) the name or identity of the Investor or any
                                            of Investor’s affiliates that purchase Transfer Shares or any unit in the IPO (or any
                                            other related identifying information), nor identify the Investor or any of Investor’s
                                            affiliates as an investor in the SPAC (including, without limitation, to any potential investors
                                            in the Sponsor or the SPAC or any potential Business Combination target), in each case without
                                            the prior written consent of the Investor, subject in any such case to the Investor’s
                                            right to review such disclosure of the Investor’s name and the SPAC’s and the
                                            Sponsor’s obligation to incorporate the Investor’s reasonable comments thereto.
	 	 	 
		(k)	Except
                                            as may be required by law, regulation or applicable stock exchange listing requirements or
                                            judicial or administrative order, unless and until the transactions contemplated hereby and
                                            the terms hereof have been publicly announced or otherwise publicly disclosed by the Sponsor,
                                            the parties hereto shall keep confidential and shall not publicly disclose the existence
                                            or terms of this Agreement provided, for the avoidance of doubt, that any and all
                                            such disclosures shall remain subject to the terms hereof, including Section 6(j). Notwithstanding
                                            the foregoing, Investor shall be permitted to disclose any information to its affiliates
                                            and to its and their control persons, officers, directors, employees, advisors, direct or
                                            indirect owners, partners, agents and representatives, in each case so long as such person
                                            or entity has been advised of its obligation to comply with the confidentiality provisions
                                            hereunder, provided, the Investor shall be liable for any breach of such confidentiality
                                            obligations by any such person or entity.

 

[Signature
Pages Follow]

 

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IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above.

 

	 	INVESTOR:
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	Phone:	 
	 	 	 
	 	Email:	 
	 	 	 
	 	SAGALIAM
    ACQUISITION CORP.
	 	 	 
	 	By:	     
	 	Name:	Barry
    Kostiner
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	SAGALIAM
    SPONSOR LLC
	 	 	 
	 	By:	 
	 	Name:	Barry
    Kostiner
	 	Title:	Chief
    Executive Officer

 

[Signature
Page to Investor Agreement]Exhibit 4.1

 

	
     
	 	 	 	 
	NUMBER	 	 	 	UNITS 
	 	 	 
	U-	 	 	 	 
	
    SEE REVERSE FOR

    CERTAIN

    DEFINITIONS
	 	LIV CAPITAL ACQUISITION CORP. II	 	 
	 	 	 	 	CUSIP  [●]

 

UNITS CONSISTING OF ONE CLASS A ORDINARY SHARE
AND THREE-QUARTERS OF ONE WARRANT,

EACH WHOLE WARRANT ENTITLING THE HOLDER TO PURCHASE ONE CLASS A ORDINARY SHARE

 

	
     
	 	 	 	 
	THIS CERTIFIES THAT	 	 	 	 
	 	 	 	 	 
	is the owner of	 	 	 	Units.
	 	 	 	 	 	 	 

 

Each Unit (“Unit”) consists of one (1) Class
A ordinary share, par value $0.0001 per share (“Class A ordinary shares”), of LIV Capital Acquisition Corp.
II, a Cayman Islands exempted company (the “Company”), and three-quarters (3/4th) of one warrant
(each whole warrant, a “Warrant”). Each whole Warrant entitles the holder to purchase one (1) Class A ordinary
share (subject to adjustment) for $11.50 per share (subject to adjustment). Each whole Warrant will become exercisable on the date that
is thirty (30) days after the Company’s completion of a merger, amalgamation, share exchange, asset acquisition, share purchase,
reorganization or other similar business combination with one or more businesses (each a “Business Combination”),
and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which the
Company completes its initial Business Combination, or earlier upon redemption or liquidation. The Class A ordinary shares and Warrants
comprising the Units represented by this certificate will begin separate trading on [●] unless EarlyBirdCapital, Inc. elects to
allow earlier separate trading, subject to the Company’s filing of a Current Report on Form 8-K with the Securities and Exchange
Commission containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of its initial public offering
and issuing a press release announcing when separate trading will begin. The terms of the Warrants are governed by a Warrant Agreement,
dated as of [●], 2021, between the Company and Continental Stock Transfer& Trust Company, as Warrant Agent, and are subject
to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance
hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at One State Street, 30th Floor, New York, New
York 10004, and are available to any Warrant holder on written request and without cost.

 

This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company.

This certificate shall be governed by and construed in accordance with the internal laws of the State of New York.

Witness the facsimile signatures of its duly authorized officers.

 

	
     

    By
	 	 	 	 	 	 
	 	Chief Executive Officer	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

     

     

    

 

LIV Capital Acquisition Corp. II

 

The Company will furnish without charge to each unitholder who so requests,
a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of shares
or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights.

 

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 MIN ACT - 	 	 	 	Custodian	 	 
	TEN ENT –	 	as tenants by the entireties	 	 	 	(Cust)	 	 	 	(Minor)
	JT TEN –	 	as joint tenants with right of	 	under Uniform Gifts to Minors 
	 	 	survivorship	 	 	 	 
	 	 	and not as tenants in common	 	 	 	Act _________________
	 	 	 	 	 	 	(State)
	 	 	 	 	 	 	 

 

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

 

For value received, hereby sell, assign and transfer unto

	
     

	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE
	 
	 

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

	 	 	 
	 	 	Units

 

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

 

Attorney to transfer the said Units on the register of members of the
within named Company with 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.

 

    2

     

    

 

Signature(s) Guaranteed:

	 
	
    THE SIGNATURE(S) MUST 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 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES
    EXCHANGE ACT OF 1934,

 AS AMENDED).

     

    3

     

    

 

In each case, as more fully described in the Company’s final
prospectus dated [●], 2021, the holder(s) of this certificate shall be entitled to receive a pro rata portion of certain funds
held in the trust account established in connection with its initial public offering only in the event that (i) the Company redeems the
Class A ordinary shares sold in its initial public offering and liquidates because it does not consummate an initial business combination
by a date calculated by reference to the Company’s amended and restated memorandum and articles of association, (ii) the Company
redeems the Class A ordinary shares sold in its initial public offering in connection with a shareholder vote to amend the Company’s
amended and restated memorandum and articles of association (a) to modify the substance or timing of the Company’s obligation to
redeem 100% of the Class A ordinary shares if it does not consummate an initial business combination by a date calculated by reference
to the Company’s amended and restated memorandum and articles of association or (b) with respect to any other provision relating
to shareholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash his,
her or its respective Class A ordinary shares in connection with a tender offer (or proxy solicitation, solely in the event the Company
seeks shareholder approval of the proposed initial business combination) setting forth the details of a proposed initial business combination.
In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

 

 

4

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