Document:

Exhibit 4.4

 

RIGHTS AGREEMENT

 

This Rights Agreement
(this “Agreement”) is made as of [       ], 2021 between Nocturne Acquisition Corporation,
a Cayman Islands exempted company with number 367466, with offices at 7244 Carrizo Drive, La Jolla, CA 92037 (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation, with offices at One State Street, 30th Floor, New York,
New York 10004 (“Rights Agent”).

 

WHEREAS, the Company
has received binding commitments from its sponsor (as defined in the Registration Statement) to purchase up to 350,000 units (or
up to 380,000 units if the underwriters’ over-allotment option is exercised in full), each unit (“Unit”) comprised
of one ordinary share with par value $0.0001 per share in the Company (“Ordinary Share”) and one right to receive one-tenth
of one Ordinary, subject to adjustment, upon the happening of the triggering event described herein (“Right”), and
in connection therewith, will issue and deliver up to an aggregate of 350,000 Rights (or up to 380,000 units if the underwriters’
over-allotment option is exercised in full) as part of such Units upon consummation of such private placement (the “Private
Offering”); and

 

WHEREAS, the Company
is engaged in a public offering (“Public Offering”) of Units and, in connection therewith, will issue and deliver up
to 10,000,000 Rights (or up to 11,500,000 Rights if the underwriters’ over-allotment option is exercised in full) to the
public investors; and

 

WHEREAS, the Company
has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-252852
(“Registration Statement”), and related Prospectus (“Prospectus”) for the registration, under the Securities
Act of 1933, as amended (“Act”), of, among other securities, the Rights and the Ordinary Shares issuable to the holders
of the Rights; and

 

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

 

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

 

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

 

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

 

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

 

2. Rights.

 

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

 

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

 

     

     

    

 

2.3. Registration.

 

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

 

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

 

2.4.
Detachability of Rights. The securities comprising the Units, including the Rights, will not be separately transferable
until the earlier to occur of: (i) the 90th day following the date of the Prospectus or (ii) the announcement by Chardan
Capital Markets, LLC, as representative of the underwriters in the Public Offering, of its intention to allow separate
earlier trading, except that in no event will the securities comprising the Units be separately tradeable until the Company
files a Current Report on Form 8-K with the SEC 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 by the date thereof and the Company issues a press release
and files a Current Report on Form 8-K with the SEC 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 Ordinary Share upon the happening of an Exchange
Event (defined below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its
Ordinary Shares upon an Exchange Event as the purchase price for such Ordinary Shares has been included in the purchase price
for the Units. In no event will the Company be required to net cash settle the Rights or issue fractional Ordinary
Shares.

 

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

 

3.3. Exchange
of Rights.

 

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

 

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3.3.2. Valid
Issuance. All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement and the Amended and Restated
Memorandum and Articles of Association of the Company shall be validly issued, fully paid and nonassessable.

 

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

 

3.3.4 Company
Not Surviving Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held
reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration the
holders of the Ordinary Shares will receive in such transaction, for the number of shares such holder is entitled to pursuant to
Section 3.3.1 above. If the Company does not continue as the publicly held reporting entity upon an Exchange Event, each holder
of a Right will be required to affirmatively convert his/her or its rights in order to receive the 1/10 share underlying each right
(without paying any additional consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will
be required to indicate his, her or its election to convert the Rights into underlying shares as well as to return the original
certificates evidencing the Rights to the Company.

 

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

 

4. Transfer
and Exchange of Rights.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

6. Concerning
the Rights Agent and Other Matters.

 

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

 

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

 

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

 

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

 

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

 

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6.3. Fees
and Expenses of Rights Agent.

 

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

 

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

 

6.4. Liability
of Rights Agent.

 

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

 

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

 

6.4.3. Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity
or execution of any Right (except its countersignature thereof); 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 Ordinary Shares to be issued pursuant to this
Agreement or any Right or as to whether any Ordinary Shares will when issued be valid and fully paid and nonassessable.

 

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

 

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

 

7. Miscellaneous
Provisions.

 

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

 

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

 

Nocturne Acquisition Corporation

7244 Carrizo Drive

La Jolla, CA 92037

Attn: Henry Monzon, Chairman
and 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 Rights Agent shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the
Company), as follows:

 

Continental Stock Transfer &
Trust Company

One State Street, 30th
Floor

New York, New York 10004

Attn: Compliance Department

 

with a copy to:

 

Ellenoff Grossman & Schole,
LLP

1345 Avenue of the Americas,

New York, NY 10105

Attn: Stuart Neuhauser, Esq.

 

and

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York
10154

Attn: Mitchell S. Nussbaum,
Esq. and Giovanni Caruso, Esq.

 

and

 

Maples and Calder

PO Box 309, Ugland House

Grand Cayman

KY1-1104

Cayman Islands

Attn: Michael Jones and Michael
Lockwood

 

and

 

Chardan Capital Markets, LLC

17 State Street #2100

New York, NY 10004

Attn: [ ]

 

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

 

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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 7.4 and 7.8 hereof, Chardan Capital Markets, LLC, any
right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. Chardan Capital Markets, LLC shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections
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 Chardan Capital Markets, LLC with respect to the Sections 7.4 and 7.8
hereof) and their successors and assigns and of the registered holders of the Rights. The provisions of this Section 7.4 may not
be modified, amended or deleted without the prior written consent of Chardan Capital Markets, LLC.

 

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

 

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

 

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

 

7.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing
any ambiguity, or of curing, correcting or supplementing any defective provision contained herein 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 Chardan Capital Markets, LLC.

 

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

 

 

[Signature Page Follows]

 

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

 

	 	NOCTURNE ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Name: 	Henry Monzon
	 	 	
        Title:
	Chairman
and Chief Executive 

Officer

        

 

	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

[Signature Page to Right Agreement]

 

    8Exhibit 10.1

 

THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED
FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE
SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

PROMISSORY NOTE

 

	
         Principal Amount: $300,000
	Dated as of November 16, 2020

 

Nocturne Acquisition Corporation,
a Cayman Islands exempted company (the “Maker”), promises to pay to the order Nocturne Sponsor, LLC, a Delaware
limited liability company, or its registered assigns or successors in interest (the “Payee”), or order, the
principal sum of Three Hundred Thousand Dollars ($300,000) or such lesser amount as shall have been advanced by Payee to Maker
and shall remain unpaid under this Note on the Maturity Date (as defined below) in lawful money of the United States of America,
on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available
funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in
accordance with the provisions of this Note.

 

1. Principal. The entire unpaid principal
balance of Note shall be payable on the earlier of: (i) June 30, 2021, or (ii) the date on which Maker consummates an initial public
offering of its securities (such earlier date, the “Maturity Date”). The principal balance may be prepaid at
any time. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder
of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder.

 

2. Drawdown Requests. Maker and Payee
agree that Maker may request, from time to time, up to Three Hundred Thousand Dollars ($300,000) in draw downs under this Note
to be used for costs and expenses related to Maker’s formation and the proposed initial public offering of its securities
(the “IPO”). Principal of this Note may be drawn down from time to time prior to the Maturity Date upon written
request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount to be
drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000). Payee shall fund each Drawdown Request no later
than three (3) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns outstanding
under this Note at any time may not exceed Three Hundred Thousand Dollars ($300,000). No fees, payments or other amounts shall
be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

 

3. Interest. No interest shall accrue
on the unpaid principal balance of this Note.

 

4. Application of Payments. All payments
shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without
limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the
unpaid principal balance of this Note.

 

     

     

    

 

5. Events of Default. The following
shall constitute an event of default (“Event of Default”):

 

(a) Failure to Make Required Payments.
Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the date specified above.

 

(b) Voluntary Bankruptcy, Etc. The
commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other
similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment
for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate
action by Maker in furtherance of any of the foregoing.

 

(c) Involuntary Bankruptcy, Etc.
The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary
case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or
liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

 

6. Remedies.

 

(a) Upon the occurrence of an Event of Default
specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon
the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without
presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or
in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon the occurrence of an Event of Default
specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note,
shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

 

7. Waivers. Maker and all endorsers
and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of
protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of
this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or
personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.

 

8. Unconditional Liability. Maker
hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this
Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall not be
affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee,
and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to
the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

    2

     

    

 

9. Notices. All notices, statements
or other documents which are required or contemplated by this Agreement shall be: (i) in writing and delivered personally or sent
by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address designated
in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be
designated in writing by such party and (iii) by electronic mail, to the electronic mail address most recently provided to such
party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so
transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt
of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier
service or five (5) days after mailing if sent by mail.

 

10. Construction. THIS NOTE SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11. Severability. Any provision contained
in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

12. Trust Waiver. Notwithstanding
anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account to be established in which the proceeds of the IPO conducted by the Maker
(including the deferred underwriters discounts and commissions) and the proceeds of the sale of the units issued in a private placement
to occur prior to the consummation of the IPO are to be deposited, as described in greater detail in the registration statement
and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek
recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

 

13. Amendment; Waiver. Any amendment
hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

 

14. Assignment. No assignment or
transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise)
without the prior written consent of the other party hereto and any attempted assignment without the required consent shall be
void.

 

IN WITNESS WHEREOF, Maker, intending
to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

	
         

        
	Nocturne Acquisition Corporation
	 	 	 
	 	By:	/s/ Henry Monzon
	 	 	Name:  	Henry Monzon
	 	 	Title: 	Chief Executive Officer

 

 

3

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