Document:

Exhibit 4.8

 

DESCRIPTION OF SECURITIES

 

General

 

As of December 6, 2022 Arisz Acquisition Corp. had 8,901,389
shares of common stock, par value $0.0001 per share, issued and outstanding. We have four classes of securities registered under Section
12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): (1) our units; (2) our common stock; (3) our rights
and (4) our warrants.

 

The following description of our units, common
stock, rights and warrants is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference
to our Second Amended and Restated Certificate of Incorporation, which is incorporated by reference as an exhibit to the Annual Report
on Form 10-K of which this Exhibit 4.8 is a part.

 

Terms not otherwise defined herein shall have
the meaning assigned to them in the Annual Report on Form 10-K of which this Exhibit 4.8 is a part.

 

Units

 

Each unit has an offering price of $10.00 and
consists of one share of common stock, one right and one redeemable warrant. Each right entitles the holder thereof to receive one-twentieth (1/20)
of a share of common stock upon consummation of our initial business combination. We will not issue fractional shares in connection with
an exchange of rights. As a result, you must hold rights in multiples of 20 in order to receive shares for all of your rights upon closing
of a business combination. Each redeemable warrant entitles the registered holder to purchase three-fourths (3/4) of one share of
common stock at a price of $11.50 per full share, subject to adjustment as described in this prospectus, and shall expire five years
after the completion of an initial business combination, or earlier upon redemption. Pursuant to the warrant agreement, a warrant holder
may exercise its warrants only for a whole number of shares. This means that only warrants in multiples of four may be exercised at any
given time by a warrant holder. For example, if a warrant holder holds one warrant to purchase three-fourths (3/4) of one share,
such warrant shall not be exercisable. If a warrant holder holds four warrants, such warrants will be exercisable for one share. Fractional
shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Delaware
law.

 

The common stock, rights and warrants comprising
the units were eligible for separate trading on December 09, 2021. Holders have the option to continue to hold units or separate their
units into the component pieces. Holders will need to have their brokers contact our transfer agent in order to separate the units into
shares of common stock, rights and warrants.

 

Private Units

 

The private units are identical to the units sold
in this offering except that (a) the private units and their component securities will not be transferable, assignable or salable
until after the completion of our initial business combination except to permitted transferees, and (b) the private warrants, so
long as they are held by our sponsor or its permitted transferees, will be entitled to registration rights, and (iv) with respect to the
private units held by the Representative, for so long as they are held by the underwriters, will not be exercisable more than five years
from the effective date of the registration statement of which this prospectus forms a part in accordance with FINRA Rule 5110(g)(8)(A).

 

Common Stock

 

Holders of record of our common stock are entitled
to one vote for each share held on all matters to be voted on by stockholders. In connection with any vote held to approve our initial
business combination, our insiders, officers and directors, have agreed to vote their respective shares of common stock owned by them
immediately prior to this offering, including both the insider shares and the private shares, and any shares acquired in this offering
or following this offering in the open market, in favor of the proposed business combination.

 

     

     

    

 

We will consummate our initial business combination
only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets to be less than $5,000,001
and, assuming a quorum is present at the meeting, the affirmative vote of a majority of the shares of Common Stock present in person or
represented by proxy and entitled to vote at the meeting are voted in favor of the business combination.

 

Our board of directors is divided into three classes,
each of which will generally serve for a term of three years with only one class of directors being elected in each year. There is
no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares eligible
to vote for the election of directors can elect all of the directors.

 

Pursuant to our certificate of incorporation,
if we do not consummate our initial business combination within 12 months (or up to 18 months if our time to complete a business
combination is extended as described herein) from the closing of this offering, we will (i) cease all operations except for the purpose
of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding
public shares for a pro rata portion of the funds held in the trust account, which redemption will completely extinguish public stockholders’
rights as stockholders (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 our remaining stockholders and our board of directors,
dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims
of creditors and the requirements of other applicable law. Our insiders have agreed to waive their rights to share in any distribution
with respect to their insider shares and private shares.

 

Our stockholders have no conversion, preemptive
or other subscription rights and there are no sinking fund or redemption provisions applicable to the shares of common stock, except that
public stockholders have the right to sell their shares to us in any tender offer or have their shares of common stock converted to cash
equal to their pro rata share of the trust account if they vote on the proposed business combination and the business combination is completed.
If we hold a stockholder vote to amend any provisions of our certificate of incorporation relating to stockholder’s rights or pre-business combination
activity (including the substance or timing within which we have to complete a business combination), we will provide our public stockholders
with the opportunity to redeem their shares of common stock 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 earned on the funds held in the trust account
and not previously released to us to pay our franchise and income taxes, divided by the number of then outstanding public shares, in connection
with any such vote. In either of such events, converting stockholders would be paid their pro rata portion of the trust account promptly
following consummation of the business combination or the approval of the amendment to the certificate of incorporation. If the business
combination is not consummated or the amendment is not approved, stockholders will not be paid such amounts

 

Preferred Stock

 

There are no shares of preferred stock outstanding.
No shares of preferred stock are being issued or registered in this offering. Our certificate of incorporation provides that shares of
preferred stock may be issued from time to time in one or more series. Our board of directors is empowered, without stockholder approval,
to issue preferred stock with dividend, liquidation, conversion, voting or other rights which could adversely affect the voting power
or other rights of the holders of common stock. However, the underwriting agreement prohibits us, prior to a business combination, from
issuing preferred stock which participates in any manner in the proceeds of the trust account, or which votes as a class with the common
stock on our initial business combination. We may issue some or all of the preferred stock to effect our initial business combination.
In addition, the preferred stock could be utilized as a method of discouraging, delaying or preventing a change in control of us. Although
we do not currently intend to issue any shares of preferred stock, we reserve the right to do so in the future.

 

Rights included as part of Units

 

Except in cases where we are not the surviving
company in a business combination, each holder of a right will automatically receive one-twentieth (1/20) of a share of common stock
upon consummation of our initial business combination, even if the holder of a public right converted all shares of common stock held
by him, her or it in connection with the initial business combination or an amendment to our certificate of incorporation with respect
to our pre-business combination activities. In the event we will not be the surviving company upon completion of our initial business
combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-twentieth (1/20)
of a share underlying each right upon consummation of the business combination. No additional consideration will be required to be paid
by a holder of rights in order to receive his, her or its additional shares of common stock upon consummation of an initial business combination.
The shares issuable upon exchange of the rights will be freely tradable (except to the extent held by affiliates of ours). If we enter
into a definitive agreement for a business combination in which we will not be the surviving entity, the definitive agreement will provide
for the holders of rights to receive the same per share consideration the holders of the common stock will receive in the transaction
on an as-converted into common stock basis.

 

    2

     

    

 

The rights were issued in registered form under
a rights agreement between Continental Stock Transfer & Trust Company, as rights agent, and us. The rights agreement provides
that the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct any defective provision,
but requires the approval, by written consent or vote, of the holders of a majority of the then outstanding rights in order to make any
change that adversely affects the interests of the registered holders.

 

We will not issue fractional shares in connection
with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of Delaware law. As a result, you must hold rights in multiples of 20 in order to receive shares for all
of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the required
time period and we liquidate the funds held in the trust account, holders of rights will not receive any of such funds with respect to
their rights, nor will they receive any distribution from our assets held outside of the trust account with respect to such rights, and
the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the
rights upon consummation of an initial business combination. Additionally, in no event will we be required to net cash settle the rights.
Accordingly, the rights may expire worthless.

 

We have agreed that, subject to applicable law,
any action, proceeding or claim against us arising out of or relating in any way to the rights agreement, including under the Securities
Act, will 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 we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such
action, proceeding or claim. See “Risk Factors — Each of our rights agreement and warrant agreement will designate
the courts of the State of New York or the United States District Court for the Southern District of New York as the sole
and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our rights and holders of our warrants,
which could limit the ability of rights holders and warrant holders to obtain a favorable judicial forum for disputes with our company.”
This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which
the federal district courts of the United States of America are the sole and exclusive forum. We note, however, that there is uncertainty
as to whether a court would enforce these provisions and that investors cannot waive compliance with the federal securities laws and the
rules and regulations thereunder. Section 22 of the Securities Act creates concurrent jurisdiction for state and federal courts over
all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder.

 

Warrants

 

There are 6,900,000 warrants are currently outstanding.
Each whole warrant entitles the registered holder to purchase three-fourths of a share of common stock at a price of $11.50 per full
share, subject to adjustment as discussed below, at any time commencing on the later of the completion of an initial business combination
and 12 months from the date of this prospectus. However, except as set forth below, no warrants will be exercisable for cash unless
we have an effective and current registration statement covering the shares of common stock issuable upon exercise of the warrants and
a current prospectus relating to such shares. Notwithstanding the foregoing, if a registration statement covering the shares of common
stock issuable upon exercise of the warrants is not effective within 90 days from the consummation of our initial business combination,
warrant holders may, until such time as there is an effective registration statement and during any period when we shall have failed to
maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the exemption from registration provided
by Section 3(a)(9) of the Securities Act provided that such exemption is available. If an exemption from registration is not available,
holders will not be able to exercise their warrants on a cashless basis. The warrants will expire five years after the completion
of an initial business combination at 5:00 p.m., Eastern time, or earlier upon redemption or liquidation.

 

    3

     

    

 

In addition, if (x) we issue additional shares
of common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination
at an issue price or effective issue price of less than $9.50 per share (with such issue price or effective issue price to be determined
in good faith by our board of directors), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total
equity proceeds, and interest thereon, available for the funding of our initial business combination, and (z) the volume weighted
average trading price of our shares of common stock during the 20 trading day period starting on the trading day prior to the day
on which we consummate our initial business combination (such price, the “Market Price”) is below $9.50 per share, the exercise
price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the Market Price, and the $16.50 per share redemption
trigger price described above will be adjusted (to the nearest cent) to be equal to 165% of the Market Price.

 

The private warrants are identical to the public
warrants underlying the units in the IPO, except that such private warrants will be subject to transfer restrictions and entitled to registration
rights.

 

We may call the warrants for redemption (excluding
the private warrants), in whole and not in part, at a price of $0.01 per warrant:

 

		●	at any time while the warrants are exercisable,

 

		●	upon not less than 30 days’ prior written notice
of redemption to each warrant holder,

 

		●	if, and only if, the reported last sale price of the shares
of common stock equals or exceeds $16.50 per share, for any 20 trading days within a 30 trading day period ending on the third
business day prior to the notice of redemption to warrant holders (the “Force-Call Provision”), and

 

		●	if, and only if, there is a current registration statement
in effect with respect to the shares of common stock underlying such warrants at the time of redemption and for the entire 30-day trading
period referred to above and continuing each day thereafter until the date of redemption.

 

The right to exercise will be forfeited unless
the warrants are exercised prior to the date specified in the notice of redemption. On and after the redemption date, a record holder
of a warrant will have no further rights except to receive the redemption price for such holder’s warrant upon surrender of such
warrant.

 

The redemption criteria for our warrants have
been established at a price that is intended to provide warrant holders a reasonable premium to the initial exercise price and provide
a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the share price declines
as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.

 

If we call the warrants for redemption as described
above, our management will have the option to require all holders that wish to exercise warrants to do so on a “cashless basis.”
In such event, each holder would pay the exercise price by surrendering the whole warrants for that number of shares of common stock equal
to the quotient obtained by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied
by the difference between the exercise price of the warrants and the “fair market value” (defined below) by (y) the fair
market value. The “fair market value” shall mean the volume weighted average trading price of our common stock for the 20 trading
days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. Whether
we will exercise our option to require all holders to exercise their warrants on a “cashless basis” will depend on a variety
of factors, including the price of our shares of common stock at the time the warrants are called for redemption, our cash needs at such
time and concerns regarding dilutive share issuances.

 

The warrants are in registered form under a warrant
agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant agreement provides that the
terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision, but requires
the approval, by written consent or vote, of the holders of a majority of the then outstanding warrants in order to make any change that
adversely affects the interests of the registered holders.

 

The exercise price and number of shares of common
stock issuable on exercise of the warrants may be adjusted in certain circumstances including in the event of a share capitalizations,
extraordinary dividend or our recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for
issuances of shares of common stock at a price below their respective exercise prices.

 

    4

     

    

 

The warrants may be exercised upon surrender of
the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the reverse
side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price, by certified or
official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges
of holders of shares of common stock and any voting rights until they exercise their warrants and receive shares of common stock. After
the issuance of shares of common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held of
record on all matters to be voted on by stockholders.

 

Except as described above, no warrants will be
exercisable and we will not be obligated to issue shares of common stock unless at the time a holder seeks to exercise such warrant, a
prospectus relating to the shares of common stock issuable upon exercise of the warrants is current and the shares of common stock have
been registered or qualified or deemed to be exempt under the securities laws of the state of residence of the holder of the warrants.
Under the terms of the warrant agreement, we have agreed to use our best efforts to meet these conditions and to maintain a current prospectus
relating to the shares of common stock issuable upon exercise of the warrants until the expiration of the warrants. However, we cannot
assure you that we will be able to do so and, if we do not maintain a current prospectus relating to the shares of common stock issuable
upon exercise of the warrants, holders will be unable to exercise their warrants and we will not be required to settle any such warrant
exercise. If the prospectus relating to the shares of common stock issuable upon the exercise of the warrants is not current or if the
shares of common stock is not qualified or exempt from qualification in the jurisdictions in which the holders of the warrants reside,
we will not be required to net cash settle or cash settle the warrant exercise, the warrants may have no value, the market for the warrants
may be limited and the warrants may expire worthless.

 

Warrant holders may elect to be subject to a restriction
on the exercise of their warrants such that an electing warrant holder (and his, her or its affiliates) would not be able to exercise
their warrants to the extent that, after giving effect to such exercise, such holder (and his, her or its affiliates) would beneficially
own in excess of 9.99% of the shares of common stock issued and outstanding. Notwithstanding the foregoing, any person who acquires a
warrant with the purpose or effect of changing or influencing the control of our company, or in connection with or as a participant in
any transaction having such purpose or effect, immediately upon such acquisition will be deemed to be the beneficial owner of the underlying
shares of common stock and not be able to take advantage of this provision.

 

No fractional shares will be issued upon exercise
of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share (as a result
of a subsequent share capitalizations payable in shares of common stock, or by a split up of the shares of common stock or other similar
event), we will, upon exercise, round up or down to the nearest whole number the number of shares of common stock to be issued to the
warrant holder.

 

We have agreed that, subject to applicable law,
any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement, including under the Securities
Act, will 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 we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such
action, proceeding or claim. See “Risk Factors — Each of our rights agreement and warrant agreement will designate
the courts of the State of New York or the United States District Court for the Southern District of New York as the sole
and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our rights and holders of our warrants,
which could limit the ability of rights holders and warrant holders to obtain a favorable judicial forum for disputes with our company.”
This provision applies to claims under the Securities Act but does not apply to claims under the Exchange Act or any claim for which
the federal district courts of the United States of America are the sole and exclusive forum. We note, however, that there is uncertainty
as to whether a court would enforce these provisions and that investors cannot waive compliance with the federal securities laws and the
rules and regulations thereunder. Section 22 of the Securities Act creates concurrent jurisdiction for state and federal courts over
all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder.

 

Dividends

 

We have not paid any cash dividends on our common
stock to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends
in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent
to completion of a business combination. The payment of any cash dividends subsequent to a business combination will be within the discretion
of our board of directors at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring
any stock dividends in the foreseeable future, except if we increase the size of the offering pursuant to Rule 462(b) under
the Securities Act, in which case we will effect a stock dividend immediately prior to the consummation of the offering in such amount
as to maintain the number of insider shares at 20.0% of our issued and outstanding shares of our common stock upon the consummation of
this offering (assuming our insiders do not purchase units in this offering). Further, if we incur any indebtedness, our ability to declare
dividends may be limited by restrictive covenants we may agree to in connection therewith.

 

    5Exhibit 10.1

 

Aerkomm
INC.

 

INVESTMENT CONVERSION AND BOND PURCHASE AGREEMENT

 

This
Investment Conversion and Bond Purchase Agreement (this “Agreement”) is made and entered into as
of _____________, 2022 (the “Effective Date”), by and between Aerkomm
Inc., a Nevada corporation with its principal office at 44043 Fremont Blvd., Freemont, CA 94538 (“Aerkomm”
or the “Company”), and World Praise Limited, a Samoa registered company with an address at Vistra Corporation
Services Center, Ground Floor NFP Building, Beach Road, Apia, Samoa (“WPL”).

 

Recitals

 

A.
On June 28, 2022, Aerkomm and WPL entered into a subscription agreement (the “June Aerkomm Agreement”)
pursuant to which WPL agreed to purchase 516,666 shares of Aerkomm’s common stock, $0.001 par value per share (the “Common
Stock”), at a purchase price per share of Euro 6.00 for an aggregate of EURO 3,100,000, at an agreed upon exchange rate
of EUR/USD 1.0584. Under this June Aerkomm Agreement, WPL paid to Aerkomm a first installment of US $3,175,200 (the “June
Aerkomm Investment”), and to date, no shares of Comon Stock have been issued and delivered to WPL under the June Aerkomm
Agreement.

 

B.  
On September 15, 2022, Aerkomm and WPL entered into an additional subscription agreement (the “September Aerkomm
Agreement”) pursuant to which WPL agreed to purchase 966,669 shares of the Common Stock at a purchase price per share of
Euro 6.00 for an aggregate of EURO 5,800,000, at an agreed upon exchange rate of EUR/USD 0.9982. Under this September Aerkomm Agreement,
WPL paid to Aerkomm a first installment of US $5,674,000 (the “September Aerkomm Investment”), and to date,
no shares of Comon Stock have been issued and delivered to WPL under the September Aerkomm Agreement.

 

C.
On June 28, 2022, WPL and MEPA Labs, Inc., a California corporation and now a wholly owned subsidiary of Aerkomm (“MEPA”),
entered into a subscription agreement (the “June MEPA Agreement,” and together with the June Aerkomm Agreement
and the September Aerkomm Agreement, the “WPL Investment Agreements”) pursuant to which WPL agreed to purchase
4,400,000 shares of MEPA’s common stock at a purchase price per share of US $1.00 for an aggregate of US $4,400,000. Under this
June MEPA Agreement, WPL paid to MEPA a first installment of US $4,324,000 (the “June MEPA Investment,” and
together with the June Aerkomm Investment and the September Aerkomm Investment, the “WPL Investments”), and
to date, no shares of MEPA common stock have been issued and delivered to WPL under the June MEPA Agreement. For the avoidance of doubt,
it is understood by the parties that the WPL Investments, in the aggregate, total US $13,173,200.

 

D.
The Company and MEPA now desire to convert the WPL Investments from obligations to issue shares of Aerkomm and MEPA common
stock to loans to the Company convertible into shares of Aerkomm Common Stock according to the terms of the convertible bond, a copy of
which is attached hereto in final form as Exhibit A (the “Convertible Bond”).

 

E.  
Additionally, WPL now wishes to be able to invest additional funds up to a maximum of US $30,000,000, which number includes
the existing WPL Investments (the “Maximum Loan Amount”), in the Company, with an initial additional loan of
US $10,000,000 (the “Initial Additional Loan Amount”), under, and pursuant to the terms of, the Convertible
Bond.

 

    1

     

    

 

Now
Therefore, in consideration of the mutual promises and covenants set forth herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.  
Outstanding Aggregate WPL Investment. The
Company and WPL hereby acknowledge and agree that the WPL Investments itemized in the recitals above are accurately reflected and that
the Company has received all of the $13,173,200 constituting the WPL Investments.

 

2.  
WPL Investments Conversion; Additional Loan.

 

(a)
Conversion of the WPL Investments. Effective upon the execution and delivery of the Convertible Bond by Aerkomm and WPL on
the Effectives Date, the Company and WPL acknowledge and agree that (a) each of the WPL Investments shall be automatically converted into
a loan to the Company under, and in accordance with the terms of, the Convertible Bond (the “Conversion”), such
aggregate loan amount (the “Conversion Amount”) to be reflected in the Convertible Bond as a component of the
Base Amount, as that term is defined in the Convertible Bond, and that by virtue of such Conversion, the obligations of the Company under
the WPL Investment Agreements are terminated, and all rights, title and interest arising under the WPL Investment Agreements are hereby
cancelled, released, extinguished and of no further force and effect, and (b) the cancellation, release and extinguishment of each of
the WPL Investment Agreements is effective whether or not such agreement is delivered to and cancelled by the Company. Each of the WPL
Investment Agreements is hereby amended to the extent necessary to allow for such Conversion as contemplated by this Agreement.

 

(b)
Additional Loans. On the Effective Date, WPL agrees to deliver to the Company the Initial Additional Loan Amount, such amount
to be reflected in the Convertible Bond as a component of the Base Amount. Any additional loan amounts to be advanced to the Company at
future dates as may be agreed upon by the parties, up to, in the aggregate, the Maximum Loan Amount, shall be recorded on Schedule 1 to
the Convertible Bond in accordance to the terms of the Convertible Bond.

 

3.  
Representations, Warranties and Covenants of the Company.
The Company hereby represents and warrants to WPL as of the date of execution of this Agreement and as of the conversion date of the Convertible
Bond as follows:

 

(a)
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Nevada. The Company has the requisite corporate power to own and operate its properties and assets and
to carry on its business as now conducted and as proposed to be conducted. The Company is duly qualified and is authorized to do business
and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both
owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a Material
Adverse Effect on the Company or its business. For purposes of the Convertible Bond, “Material Adverse Effect” means
(a) a material adverse change in, or a material adverse effect upon, the operations, business, assets, properties, liabilities (actual
or contingent), condition (financial or otherwise) of the Company, or the Company taken as a whole; (b) a material impairment of the rights
and remedies of WPL under the Convertible Bond, or of the ability of the Company to perform its obligations under any such document to
which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Company
of the Convertible Bond to which it is a party.

 

(b)
Corporate Power. The Company shall have all requisite corporate power to execute and deliver the Convertible Bond and to carry
out and perform its obligations under the terms of the Convertible Bond. The Company’s Board of Directors has approved the Convertible
Bond based upon a reasonable belief that the Convertible Bond is appropriate for the Company after reasonable inquiry concerning the Company’s
financing objectives and financial situation.

 

    2

     

    

 

(c)
Authorization. All corporate action on the part of the Company necessary for the authorization, execution, delivery and performance
of the Convertible Bond by the Company and the performance of the Company’s obligations hereunder, including the issuance and delivery
of the Convertible Bond and the reservation of the equity securities issuable upon conversion of the Convertible Bond (collectively, the
“Conversion Securities”) has been taken or will be taken prior to the issuance of such Conversion Securities. This
Agreement and the Convertible Bond , when executed and delivered by the Company, shall constitute valid and binding obligations of the
Company enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief
of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. The Conversion Securities, when issued
in compliance with the provisions of this Agreement or the Convertible Bond, will be validly issued, fully paid and nonassessable and
free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws.

 

(d)
Governmental Consents. All consents, approvals, orders, or authorizations of, or registrations, qualifications, designations,
declarations, or filings with, any governmental authority, required on the part of the Company in connection with the valid execution
and delivery of the Convertible Bond, the offer, sale or issuance of the Convertible Bond and the Conversion Securities issuable upon
conversion of the Convertible Bond or the consummation of any other transaction contemplated hereby shall have been obtained and will
be effective as of the date of the Convertible Bond.

 

(e)
Compliance with Laws. The Company is not in violation of any applicable statute, rule, regulation, order or restriction of
any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership
of its properties, which violation of which would materially and adversely affect the business, assets, liabilities, financial condition,
operations or prospects of the Company.

 

(f)
Litigation. There is no action, suit, proceeding or investigation pending or, to the Company’s knowledge, currently threatened
against the Company, threatened against any of the officers or directors of the Company with respect to such duties and activities with
respect to the Company that would have a Material Adverse Effect.

 

(g)
Compliance with Other Instruments. The Company is not in violation or default of any term of its Amended and Restated Articles
of Incorporation, or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound
or of any judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect on the Company.
The execution, delivery and performance of the this Agreement and the Convertible Bond, and the consummation of the transactions contemplated
hereby and thereby will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and
giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the
creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, impairment, forfeiture, or nonrenewal
of any material permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets
or properties. Without limiting the foregoing, the Company has obtained all waivers reasonably necessary with respect to any preemptive
rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in
order for the Company to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the
Company to offer or issue any securities of the Company as a result of the consummation of the transactions contemplated hereunder.

 

    3

     

    

 

(h)
Offering. Assuming the accuracy of the representations and warranties of WPL contained in Section 4 hereof, the offer,
issue, and sale of the Convertible Bond and the Conversion Securities are and will be exempt from the registration and prospectus delivery
requirements of the Securities Act of 1933, as amended (the “Act”), and have been registered or qualified (or
are exempt from registration and qualification) under the registration, permit, or qualification requirements of all applicable state
securities laws.

 

(i)
Capitalization. The authorized capital stock of the
Company, immediately prior to the date hereof, consists of 90,000,000 shares of Common Stock (the “Common Stock”), $0.001
par value per share, 9,869,165  shares of which are issued and outstanding and 50,000,000
shares of Preferred Stock (the “Common Stock”), $0.001 par value per share, zero (o) shares of which are issued and outstanding.

 

4.  
Representations and Warranties of WPL. WPL
hereby represents and warrants as of the date of execution of this Agreement the following:

 

(a)
Purchase for Own Account. WPL represents that it is acquiring the Convertible Bond and the Conversion Securities (collectively,
the “Securities”) solely for its own account and beneficial interest for investment and not for sale or with
a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or
otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change
in such intention.

 

(b)
Information and Sophistication. Without lessening or obviating the representations and warranties of the Company set forth
in Section 3, WPL hereby: (i) acknowledges that it has received all the information it has requested from the Company and it considers
necessary or appropriate for deciding whether to acquire the Securities, (ii) represents that it has had an opportunity to ask questions
and receive answers from the Company regarding the terms and conditions of the offering of the Securities and to obtain any additional
information necessary to verify the accuracy of the information given WPL and (iii) further represents that it has such knowledge and
experience in financial and business matters that it is capable of evaluating the merits and risk of this investment.

 

(c)
Ability to Bear Economic Risk. WPL acknowledges that investment in the Securities involves a high degree of risk, and represents
that it is able, without materially impairing its financial condition, to hold the Securities for an indefinite period of time and to
suffer a complete loss of its investment.

 

(d)
Further Limitations on Disposition. Without in any way limiting the representations set forth above, WPL further agrees not
to make any disposition of all or any portion of the Securities unless and until:

 

		(i)	There is then in effect a registration
statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement;
or

 

		(ii)	WPL shall have notified the
Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the
proposed disposition, and if reasonably requested by the Company, WPL shall have furnished the Company with an opinion of counsel, that
such disposition will not require registration under the Act or any applicable state securities laws, provided that no such opinion shall
be required for dispositions in compliance with Rule 144, except in unusual circumstances.

 

		(iii)	Notwithstanding the provisions
of paragraphs (i) and (ii) above, no such registration statement or opinion of counsel shall be necessary for a transfer by WPL to shareholder
of WPL, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree
in writing to be subject to the terms hereof to the same extent as if they were parties hereto and holders under the Convertible Bond.

 

    4

     

    

 

(e)
Accredited Investor Status. WPL is an “accredited investor” as such term is defined in Rule 501 under the Act.

 

(f)
Foreign Investors. If WPL is not a United States person (as defined by Section 7701(a)(30) of the Code ), WPL hereby represents
that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe
for the Securities or any use of the Convertible Bond, including (i) the legal requirements within its jurisdiction for the purchase of
the Securities, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may
need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption,
sale, or transfer of the Securities. WPL’s subscription and payment for and continued beneficial ownership of the Securities will
not violate any applicable securities or other laws of WPL’s jurisdiction.

 

(g)
Further Assurances. WPL agrees and covenants that at any time and from time to time it will promptly execute and deliver to
the Company such further instruments and documents and take such further action as the Company may reasonably require in order to carry
out the full intent and purpose of the Convertible Bond and to comply with state or federal securities laws or other regulatory approval

 

5.  
Miscellaneous.

 

(a) Governing Law; Venue.
This Agreement shall be governed by and construed under the laws of the State of California in all respects without giving effect
to conflict of law principles thereof. The parties agree that any action brought by either party under or in relation to this Agreement,
including without limitation to interpret or enforce any provision of this Agreement, shall be brought in, and each party agrees to and
does hereby submit to the jurisdiction and venue of, any state or federal court located in the state of California.

 

(b)
Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon
personal delivery to the party to be notified, (b) when sent by electronic mail or confirmed facsimile if sent during normal business
hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company and WPL at the addresses
as set forth on such party’s signature page hereof or at such other address as the Company or WPL may designate by ten (10) days
advance written notice to the other parties hereto.

 

(c)
Expenses. The Company shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery
and performance of this Agreement and Convertible Bond.

 

(d)
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than
the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement.

 

(e)
Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement,
and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

 

    5

     

    

 

(f)
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

 

(g)
Modification; Waiver. No modification or waiver of any provision of this Agreement shall be effective unless in writing and
approved by the Company and WPL.

 

(h)
Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with regard
to the subjects hereof and no party shall be liable or bound to any other in any manner by any representations, warranties, covenants
and agreements except as specifically set forth herein.

 

(i)
Further Assurances. Each party hereto agrees to execute and deliver, or cause to be executed and delivered, such further instruments
or documents or take such other actions as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(Signature Page Follows)

 

    6

     

    

 

In
Witness Whereof, the parties have executed this Investment Conversion and Bond Purchase
Agreement as of the date first written above.

 

	 	Aerkomm Inc.
	 	 	 
	 	By: 	/s/ Louis Giordimaina
	 	Name:  	Louis Giordimaina
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:
	 	44043 Fremont Blvd. 
	 	Freemont, CA 94538
	 	 	 
	 	World Praise Limited
	 	 	 
	 	By: 	/s/ Leroy Yau
	 	Name:  	Leroy Yau
	 	Title:	Director
	 	 	 
	 	Address:
	 	Vistra Corporation Services Center, Ground Floor NFP Building, Beach Road, Apia, Samoa

 

    7

     

    

 

Exhibit A Convertible
Bond

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