Document:

EX-4.2

 Exhibit 4.2 

RIGHTS AGREEMENT 
 This
Rights Agreement (this “Agreement”) is made as of September 22, 2022 between Global Star Acquisition, Inc., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York
corporation, with offices at 1 State Street, New York, New York 10004 (the “Right Agent”). 
 WHEREAS, the Company has received a
firm commitment from EF Hutton, division of Benchmark Investments, LLC (the “Representative”), as representative of the several underwriters, to purchase up to an aggregate of 9,200,000 units, each unit (“Unit”) comprised of one
Class A Common Stock of the Company, par value $.0001 per share (the “Common Stock”), one warrant to purchase one share of Class A Common Stock, and one right to receive one-tenth of one
share of Class A common stock (a “Public Right”) upon the happening of the triggering event described herein, and in connection therewith, will issue and deliver up to an aggregate of 9,200,000 Public Rights upon consummation of such
public offering, 1,200,000 of which are attributable to the over-allotment option (“Public Offering”); 
 WHEREAS, the Company has
filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-266387 (“Registration
Statement”), for the registration, under the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public Rights and the Common Stock issuable to the holders of the Public Rights; 

WHEREAS, the Company desires the Right Agent to act on behalf of the Company, and the Right Agent is willing to so act, in connection with the
issuance, registration, transfer and exchange of the Rights; 
 WHEREAS, the Company desires to provide for the form and provisions of the
Rights, the terms upon which they shall be issued, and the respective rights, limitation of rights, and immunities of the Company, the Right Agent, and the holders of the Rights; and 

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

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

 

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

 

	2.	 Rights. 

  

	 	2.1.	 Form of Right. Each Right shall be issued in registered or book entry form, as requested by the Company
or the holder of a Right. Any Rights issued in registered form shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of
the Board or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s seal, if any. In the event the person whose facsimile signature has been placed upon any Right shall
have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance. 

 

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

	 	2.3.	 Registration. 

 

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

  

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

  

	 	2.4.	 Detachability of Rights. The securities comprising the Units, including the Rights, will not be
separately transferable until the fifty-second (52nd) day after the date hereof unless the Representative informs the Company and the Right Agent of its decision to allow earlier separate trading, but in no event will separate trading of the
securities comprising the Units begin until (i) the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the
Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current Report
on Form 8-K announcing when such separate trading shall begin. 

  

	3.	 Terms and Exchange of Rights. 

 

	 	3.1.	 Rights. Each Right shall entitle the holder thereof to receive
one-tenth of one Class A Common Stock upon the happening of the Exchange Event (described below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Common
Stock upon the Exchange Event as the purchase price for such Common Stock has been included in the purchase price for the Units. In no event will the Company be required to net cash settle the Rights or issue fractional Common Stock. The provisions
of this Section 3.1 may not be modified, amended or deleted without the prior written consent of the Representative. 

  

	 	3.2.	 Exchange Event. The Exchange Event shall be the Company’s consummation of an initial Business
Combination (as defined in the Company’s Amended and Restated Certificate of Incorporation). 

	 	3.3.	 Exchange of Rights. 

 

	 	3.3.1.	 Issuance of Certificates. As soon as practicable upon the occurrence of the Exchange Event, the Company
shall direct holders of the Rights to return their Rights Certificates to the Right Agent. If the Company is not the surviving entity in a Business Combination, the holder of Rights must affirmatively elect to such conversion. Upon receipt of a
valid Rights Certificate, the Right Agent shall issue to the registered holder of such Right(s) a certificate or certificates for the number of full Common Stock to which he, she or it is entitled, registered in such name or names as may be directed
by him, her or it. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of
Rights. At the time of the Exchange Event, the Company will instruct the Right Agent to round up to the nearest whole Common Stock or otherwise inform it how fractional shares will be addressed in accordance with Cayman law. 

 

	 	3.3.2.	 Valid Issuance. All Common Stock issued upon an Exchange Event in conformity with this Agreement shall
be validly issued, fully paid and nonassessable. 

  

	 	3.3.3.	 Date of Issuance. Each person in whose name any such certificate for Common Stock is issued shall for
all purposes be deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate. 

 

	 	3.3.4.	 Company Not Surviving Following Exchange Event. If the Exchange Event results in the Company not
continuing as a publicly held reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Common Stock will receive in with the Exchange Event, for the number of
shares such holder is entitled to pursuant to Section 3.1 above. 

  

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

 

	4.	 Transfer and Exchange of Rights. 

 

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

  

	 	4.2.	 Procedure for Surrender of Rights. Rights may be surrendered to the Right Agent, together with a written
request for exchange or transfer, and thereupon the Right Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing an equal aggregate number of Rights; provided,
however, that in the event that a Right surrendered for transfer bears a restrictive legend, the Right Agent shall not cancel such Right and issue new Rights in exchange therefor until the Right Agent has received an opinion of counsel for the
Company stating that such transfer may be made and indicating whether the new Rights must also bear a restrictive legend. 

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

  

	 	4.4.	 Service Charges. There shall be a reasonable service charge paid to the Right Agent for any exchange or
registration of transfer of Rights. 

  

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

  

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

 

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

  

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

  

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

  

	6.	 Concerning the Right Agent and Other Matters. 

 

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

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

 

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

  

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

 

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

 

	 	6.3.	 Fees and Expenses of Right Agent. 

 

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

 

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

	 	6.4.	 Liability of Right Agent. 

 

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

  

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

  

	 	6.4.3.	 Exclusions. The Right Agent shall have no responsibility with respect to the validity of this Agreement
or with respect to the validity or execution of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Right; nor shall it by any
act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Common Stock to be issued pursuant to this Agreement or any Right or as to whether any Common Stock will, when issued, be valid and fully
paid and nonassessable. 

  

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

  

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

 

	7.	 Miscellaneous Provisions. 

 

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

  

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

 Global Star Acquisition, Inc. 

1641 International Drive Unit 208 
 McLean, VA 22102 

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

Continental Stock Transfer & Trust Company 
 1 State
Street 
 New York, NY 10004 
 Attn: Francis Wolf and Celeste
Gonzalez 
 Email: fwolf@continentalstock.com 
 Email:
cgonzalez@continentalstock.com 
 with a copy to: 
 Nelson
Mullins Riley & Scarborough LLP 
 101 Constitution Avenue, NW. Suite 900 

Washington, D.C. 20001 
 Attn: Andrew M. Tucker, Esq. 

and 
 Mayer Brown 

18F Princess Building 
 10 Charter Road 

Central, Hong Kong SAR 
 Attn: Thomas Kollar, Esq. 

and 
 EF Hutton, division of Benchmark Investments, LLC 

590 Madison Ave 39th floor 
 New York, NY 10022 

Attn: Legal Department 

	 	7.3.	 Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and
of the Rights shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby
agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New
York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be
served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such mailing shall be deemed
personal service and shall be legal and binding upon the Company in any action, proceeding or claim. Notwithstanding the foregoing, (i) the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by
the Exchange Act or any other claim for which the federal district courts of the United States of America are the sole and exclusive forum, and (ii) unless the Company consents in writing to the selection of an alternative forum, the federal
district courts of the United States of America shall, to the full extent permitted by law, be the exclusive form for the resolution of any complaint asserting a cause of action arising under the Securities Act or the rules and regulations
promulgated thereunder. 

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

 

	 	7.4.	 Persons Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be
implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the Rights and, for the purposes of Sections 3.1, 7.4 and
7.8 hereof, the Representative, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed to be a third-party beneficiary of this
Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and the Representative with
respect to Sections 3.1, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights. 

  

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

  

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

 

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

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

 

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

[Signature Page Follows] 

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

			
	GLOBAL STAR ACQUISITION, INC.
		
	By:	 	 /s/ Anthony Ang

		 	Name: Anthony Ang
		 	Title: Chief Executive Officer
	
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
		
	By:	 	 /s/ Leicia Savinetti

		 	Name: Leicia Savinetti
		 	Title: Vice President

 [Signature page to Rights Agreement between Global Star Acquisition, Inc. and 

Continental Stock Transfer & Trust Company] 

 EXHIBIT A 

Form of Right 
 (attached)EX-10.1

 Exhibit 10.1 

September 22, 2022 
 Global Star Acquisition
Inc. 
 1641 International Drive Unit 208 
 McLean, VA 22102

 Re: Initial Public Offering 
 Ladies and Gentlemen: 

This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the
“Underwriting Agreement”) to be entered into by and between Global Star Acquisition Inc., a Delaware corporation (the “Company”) and EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters (each,
an “Underwriter” and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public Offering”), of up to 9,200,000 of the Company’s units (including up to 1,200,000 units that
may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), one redeemable warrant and one
right. Each whole warrant (each, a “Warrant”) entitles the holder thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. Each right (each, a “Right”) entitles the holder thereof to
receive one-tenth (1/10) of one share of Common Stock upon consummation of our initial business combination. The Units shall be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Units have been approved to be listed on the Nasdaq Global
Market. Certain capitalized terms used herein are defined in paragraph 11 hereof. 
 In order to induce the Company and the Underwriters to
enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Global Star Acquisition 1 LLC (the “Sponsor”) and
each of the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each, an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as follows: 

1. The Sponsor and each Insider agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such
proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any shares of Common Stock owned by it, him or her in
connection with such stockholder approval. If the Company engages in a tender offer in connection with any proposed Business Combination, each Insider agrees that it, he or she will not seek to sell its, his or her shares of Common Stock to the
Company in connection with such tender offer. 

 2. The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a
Business Combination within 12 months from the closing of the Public Offering, (or up to 21 months if the Company extends the period of time to consummate a business combination, as described in more detail in the Prospectus) or such later period
approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation, the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds therefor, redeem 100% of the Common Stock sold as part of the Units in the Public
Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust
Account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public
Stockholders’ rights as stockholders of the Company (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to
the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and other
requirements of applicable law. The Sponsor and each Insider agree not to propose any amendment to the Company’s amended and restated certificate of incorporation that would modify (i) the substance or timing of the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 12 months from the closing of the Public Offering (or up to 21 months if the Company extends the period of time to consummate a business
combination, as described in more detail in the Prospectus) or (ii) the other provisions relating to stockholders’ rights or pre-initial business combination activities, unless the Company provides
its Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
Trust Account, including interest (which interest shall be net of amounts released for payment of taxes) divided by the number of then outstanding Offering Shares. The Sponsor and each Insider agree to waive its redemption rights with respect to
shares of Capital Stock owned by it in connection with a stockholder vote to approve an amendment to the Company’s amended and restated certificate of incorporation (A) to modify the substance or timing of the Company’s obligation to
redeem 100% of the Offering Shares if the Company does not complete a Business Combination within 12 months from the closing of the Public Offering (or up to 21 months if the Company extends the period of time to consummate a business combination,
as described in more detail in the Prospectus) or (B) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity. 

Each of the Sponsor and each Insider acknowledges that it, he or she 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 Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of
Common Stock held by it, him or her, if any, any redemption rights it, he or she may have in connection with the consummation of a Business Combination, including, without limitation, any such rights available in the context of a stockholder vote to
approve such Business Combination or in the context of a tender offer made by the Company to purchase shares of Common Stock (although the Sponsor, the Insiders and their respective affiliates shall be entitled to redemption and liquidation rights
with respect to any Offering Shares it or they hold if the Company fails to consummate a Business Combination within 12 months from the date of the closing of the Public Offering (or up to 21 months if the Company extends the period of time to
consummate a business combination , as described in more detail in the Prospectus)). 

  
 2 

 3. During the period commencing on the effective date of the Underwriting Agreement and ending 180 days
after such date, the Sponsor and each Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or
agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and the rules and regulations of the Commission promulgated thereunder, with respect to any Units, shares of Common Stock, Warrants, Rights or any securities convertible into, or exercisable, or exchangeable for, shares of
Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Common Stock, Warrants, Rights or any
securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any
intention to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions set forth in this paragraph 3 or
paragraph 7 below, the Company shall announce the impending release or waiver by press release through a major news service at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be
effective two business days after the publication date of such press release. The provisions of this paragraph will not apply if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in
writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer. 

4. In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other stockholders, members
or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in
investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim by (i) any third party (other than the Company’s
independent accountants) for services rendered or products sold to the Company or (ii) a prospective target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement for a Business
Combination (a “Target”); provided, however, that such indemnification of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s
independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.25 per share of the Offering Shares or (ii) such lesser amount per share of the Offering Shares
held in the Trust Account due to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account which may be withdrawn to
pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against
certain liabilities, including liabilities under the Securities Act of 1933. In the event that any such 

  
 3 

 
executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability for such third party claims. The Sponsor shall have the
right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies the Company in writing that it shall
undertake such defense. 
 5. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,200,000
Units within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to the product of 300,000 multiplied by a fraction,
(i) the numerator of which is 1,200,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 1,200,000. The forfeiture will be adjusted to the extent
that the over-allotment option is not exercised in full by the Underwriters so that the Initial Stockholders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Common Stock after the Public Offering (excluding the
Private Placement Units). 
 6. The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be
irreparably injured in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 6, 7(a), 7(b), and 9 of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such
breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach. 

7. (a) The Sponsor and each Insider agrees that (i) 50% of the Founder Shares (or shares of Common Stock issuable upon conversion thereof) will not be
transferred, assigned or sold until the earlier of (A) six months after the date of the consummation of the Company’s initial business combination and (B) the date on which the closing price of the Company’s common stock equals
or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, rights issuances, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after
the Company’s initial business combination and (i) the remaining 50% of the Founder Shares (or shares of Common Stock issuable upon conversion thereof) will not be transferred, assigned, sold or released from escrow until six months after
the date of the consummation of the Company’s initial business combination (the “Founder Shares Lock-up Period”). 

(b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units, the Private Placement Shares, the
Private Placement Warrants or shares of Common Stock issued or issuable upon the exercise of the Private Placement Warrants, until 30 days after the completion of the initial Business Combination (the “Private Placement Units Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”). 

(c) Notwithstanding the provisions set forth in paragraphs 7(a) and 7(b), Transfers of the Founder Shares, Private Placement Units, Private
Placement Shares, Private Placement Warrants, Private Placement Rights and shares of Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants and Private Placement Rights or the Founder Shares that are held
by the Sponsor, any Insider or any of their permitted transferees (that 

  
 4 

 
have complied with this paragraph 7(c)), are permitted (i) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors or
any members of the Sponsor or any affiliates of the Sponsor; (b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s
immediate family, an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (d) in the case of an individual, pursuant to
a qualified domestic relations order; (e) by private sales or transfers made in connection with the consummation of an initial Business Combination (f) in the event of the Company’s liquidation prior to the completion of an initial
Business Combination; (g) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; or (h) in the event of the Company’s liquidation, merger, capital
stock exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having the right to exchange their shares of Common Stock for cash, securities or other property subsequent to the Company’s
completion of an initial Business Combination; provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer
restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions). 

8. Each of the Sponsor and the Insiders represents and warrants that it, he or she has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information furnished to the Company (including any such information included in the
Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s background. The Sponsor and each Insider’s questionnaire furnished to the Company is true and accurate in all
respects. The Sponsor and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she
has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or
she is not currently a defendant in any such criminal proceeding. The Company represents and warrants that, to its knowledge, (i) none of its advisors has been suspended or expelled from membership in any securities or commodities exchange or
association or had a securities or commodities license or registration denied, suspended or revoked, (ii) each advisor’s biographical information furnished to the Company (including any such information included in the Prospectus) is true
and accurate in all respects and does not omit any material information with respect to such advisor’s background and each advisor’s questionnaire furnished to the Company is true and accurate in all respects, (iii) none of its
advisors is subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or
practice relating to the offering of securities in any jurisdiction; and (iii) none of its advisors has been convicted of, or pleaded guilty to, any crime (x) involving fraud, (y) relating to any financial transaction or handling of
funds of another person, or (z) pertaining to any dealings in any securities and none of its advisors is currently a defendant in any such criminal proceeding. 

  
 5 

 9. (a) Except as disclosed in the Prospectus and cash or other compensation to the Company’s officers
or advisors to be engaged subsequent to the consummation of the Public Offering (which will be disclosed in the Company’s other filings with the Securities and Exchange Commission), neither the Sponsor nor any individual who is an officer,
director or advisor of the Company as of the date hereof nor any affiliate thereof shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or other compensation prior to, or
in connection with any services rendered in order to effectuate the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than the following, none of which will be made from the
proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the Company by Global Star Acquisition 1 LLC; reimbursement for any out-of-pocket expenses related to identifying, investigating and consummating an initial Business Combination; payment to an affiliate of the Sponsor of $10,000 per month, for
up to 21 months, for office space, utilities and secretarial and administrative support; and repayment of non-interest bearing loans, if any, and on such terms as to be determined by the Company from time to
time, made by the Sponsor or any of the Company’s officers or directors to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate an initial Business
Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may be
convertible into units, at a price of $10.00 per unit at the option of the lender, upon consummation of the initial Business Combination. The units would be identical to the Private Placement Units. Additionally, up to $264,000 (or $303,600 if the
underwriters’ over-allotment option is exercised in full) may be loaned by the Sponsor to fund nine one-month extensions on the period of time in which the Company has to consummate a Business
Combination. Such loans may be convertible into units at a price of $10.00 per unit, which units would be identical to the Private Placement Units. 
 10.
Each of the Sponsor and each Insider has full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement with any
employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or a director on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer and/or a
director of the Company. 
 11. As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iii) “Founder Shares” shall mean
the 2,300,000 shares of the Company’s Class B common stock, par value $0.0001 per share, initially held by the Sponsor (up to 300,000 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option
is not exercised in full by the Underwriters); (iv) “Initial Stockholders” shall mean the Sponsor and any other holder of Founder Shares immediately prior to the Public Offering; (v) “Private Placement Shares” shall mean the
456,225 shares of Common Stock comprising the Private Placement Units (or up to 498,225 shares of Common Stock if the over-allotment option is exercised in full); (vi) “Private Placement Units” shall mean the 456,225 units to be purchased
by the Sponsor, or up to 498,225 units if the over-allotment option is exercised in full, each 

  
 6 

 
comprised of one share of Common Stock, one Warrant and one Right, with each whole Warrant entitling the holder thereof to purchase one share of Common Stock, that the Sponsor has agreed to
purchase for an aggregate purchase price of $4,562,250 (or up to $4,982,250 if the over-allotment option is exercised in full), or purchase price of $10.00 per Private Placement Unit, in a private placement that shall occur simultaneously with the
consummation of the Public Offering; (vii) “Private Placement Warrants” shall mean the Warrants to purchase up to 456,225 shares of Common Stock (or up to 498,225 shares of Common Stock if the over-allotment option is exercised in full)
comprising the Private Placement Units; (viii) “Private Placement Rights” shall mean the Rights to receive 45,637 shares of Common Stock (or up to 49,837 shares of Common Stock if the over-allotment option is exercised in full) upon the
consummation of the Business Combination (ix) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (x) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the
Public Offering and the sale of the Private Placement Units shall be deposited; and (xi) “Transfer” shall mean the (a) sale or assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to
purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of
Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any
transaction specified in clause (a) or (b). 
 12. This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in
respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions
contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto. 

13. No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the
other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor
and each Insider and their respective successors, heirs and assigns and permitted transferees. 
 14. Nothing in this Letter Agreement shall be construed to
confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants,
conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees. 

  
 7 

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

16. This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or
enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a
provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. 
 17. This Letter Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit
to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 

18. Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be
sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission. 
 19.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however, that this Letter Agreement shall earlier
terminate in the event that the Public Offering is not consummated and closed by December 31, 2022; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation. 

  
 8 

 
			
	Sincerely,
	Global Star Acquisition Inc.
		
	By:	 	 /s/ Anthony Ang

		 	Name: Anthony Ang
		 	Title: Chief Executive Officer
		
	By:	 	 /s/ Anthony Ang

		 	Anthony Ang
		
	By:	 	 /s/ Nicholas Khoo

		 	Nicholas Khoo
		
	By:	 	 /s/ Shan Cui

		 	Shan Cui
		
	By:	 	 /s/ Stephen Drew

		 	Stephen Drew
		
	By:	 	 /s/ Kan Mun Wai Benny

		 	Kan Mun Wai Benny
		
	By:	 	 /s/ Yang Kan Chong

		 	Yang Kan Chong
		
	By:	 	 /s/ Hai Chwee Chew

		 	Hai Chwee Chew
		
	By:	 	 /s/ Jukka Rannila

		 	Jukka Rannila
		
	By:	 	 /s/ Anthony Ang

		 	Name: Global Star Acquisition 1 LLC
		 	By: Anthony Ang
		
	By:	 	 /s/ Ted Kim

		 	Name: Global Star Acquisition 1 LLC
		 	By: Ted Kim
	
	EF Hutton, Division of Benchmark Investments, LLC
		
	By:	 	 /s/ Sam Fleischman

		 	By: Sam Fleischman
		 	Title: Supervisory Principle

 [Signature Page to Letter Agreement] 

  
 9

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