Document:

Exhibit 4.1

  

RIGHTS AGREEMENT

 

This Rights Agreement (this
“Agreement”) is made as of March 30, 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 450,000 units (or up to 495,000 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 450,000 Rights (or up to 495,000 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. 

 

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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. 

 

 

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: George Kaufman

 

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:	 /s/ Henry Monzon
	 	 	Name: 	Henry Monzon
	 	 	Title:	Chairman and Chief Executive

Officer

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 /s/ Ana Gois
	 	 	Name: Ana Gois
	 	 	Title: Vice President

 

 

 

 

 

 

 

 

[Signature Page to Right Agreement]

 

8Exhibit 10.1

 

March
30, 2021

 

7244
Carrizo Drive

La
Jolla, CA 92037

 

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 Nocturne Acquisition Corporation, a Cayman Islands
exempted company (the “Company”), and Chardan Capital Markets, LLC (the “Representative”),
as the representative of the several underwriters (the “Underwriters”), relating to an underwritten initial
public offering (the “Public Offering”) of 11,500,000 of the Company’s units (including up to 1,500,000
units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one ordinary
share of the Company, par value $0.0001 per share (the “Ordinary Shares”) and one right (the “Right”).
Each Right entitles the holder thereof to receive one-tenth (1/10) of one Ordinary Share upon the consummation of the Company’s
initial business combination, subject to adjustment. 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 Securities and Exchange Commission
(the “Commission”) and the Company shall apply to have the Units listed on the Nasdaq Capital Market. Certain
capitalized terms used herein are defined in paragraph 10 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, Nocturne Sponsor, LLC, a Delaware
limited liability company (the “Sponsor”), and the other undersigned persons (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 shareholder approval of a proposed Business Combination (as defined below),
then in connection with such proposed Business Combination, it, he or she shall (i) vote any Ordinary Shares owned by it, him or her
in favor of any proposed Business Combination and (ii) not redeem any Ordinary Shares owned by it, him or her in connection with such
shareholder approval.

 

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 18 months from the closing of the Public Offering 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
shareholders in accordance with the Company’s amended and restated memorandum and articles of association, 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 ten (10) business days thereafter, subject to lawfully available funds therefor, redeem
100% of the Ordinary Shares 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 (which interest
shall be net of taxes payable and 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 Shareholders’ rights as shareholders (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 shareholders and the Company’s board of directors, dissolve
and liquidate, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and
other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Company’s amended
and restated memorandum and articles of association (a) that would affect the ability of Public Shareholders to exercise redemption rights
with respect to the Offering Shares or 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 (or up to 18 months) from the closing of the Public Offering,
or (b) with respect to any other provision relating to shareholders’ rights or pre-initial Business Combination activity, unless
the Company provides its Public Shareholders 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 taxes payable), divided by the number of then outstanding Offering Shares.

 

     

     

    

 

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
(as defined below) held by it. The Sponsor and each Insider hereby further waives, with respect to any Ordinary Shares 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 shareholder vote to approve such Business Combination or in the context
of a tender offer made by the Company to purchase Ordinary Shares (although the Sponsor and the Insiders 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 (or up to 18 months) from the closing of the Public Offering, or such later period approved by the Company’s shareholders
in accordance with the Company’s amended and restated memorandum and articles of association).

 

3.
In the event of the liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other
equity holders, 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 public accountants) for services
rendered or products sold to the Company or (ii) a prospective target business with which the Company has discussed entering into a transaction
agreement (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) $10.10 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, as amended. In the event that any such 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.

 

4.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units within
45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees that it shall forfeit, at no
cost, a number of Founder Shares in the aggregate equal to 375,000 multiplied by a fraction, (i) the numerator of which is 1,500,000
minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of
which is 1,500,000.

 

All
references in this Letter Agreement to Founder Shares of the Company being forfeited shall take effect as surrenders for no consideration
of such Founder Shares as a matter of Cayman Islands law. The forfeiture will be adjusted to the extent that the over-allotment option
is not exercised in full by the Underwriters so that the Founder Shares will represent 20.0% of the Company’s issued and outstanding
Ordinary Shares after the Public Offering (assuming the Initial Shareholders do not purchase any units in the Public Offering and excluding
the Private Shares). The Initial Shareholders further agree that to the extent that the size of the Public Offering is increased or decreased,
the Company will effect a capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, immediately
prior to the consummation of the Public Offering in such amount as to maintain the ownership of the Initial Shareholders prior to the
Public Offering at 20.0% of the Company’s issued and outstanding Ordinary Shares upon the consummation of the Public Offering (assuming
the Initial Shareholders do not purchase any units in the Public Offering and excluding the Private Shares). In connection with such
increase or decrease in the size of the Public Offering, then (A) the references to 1,500,000 in the numerator and denominator of the
formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of Ordinary Shares included in
the Units issued in the Public Offering and (B) the reference to 375,000 in the formula set forth in the immediately preceding sentence
shall be adjusted to such number of Founder Shares that the Founder Shares would represent an aggregate of 20.0% of the Company’s
issued and outstanding Ordinary Shares after the Public Offering (assuming the Initial Shareholders do not purchase any units in the
Public Offering).

 

    2

     

    

 

5.
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 Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 6(a), 6(b) and 8 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 seek injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

6.
(a) The Sponsor and each Insider agrees that it, he or she shall not Transfer (as defined below) any Founder Shares until the earlier
of (A) with respect to 50% of the Founder Shares, for a period ending on the earlier to occur of the six-month anniversary of the completion
of the Business Combination or the date on which the closing price of the Ordinary Shares exceeds $12.50 for any 20 trading days within
a 30-day trading period following the closing of the Business Combination; (B) with respect to the remaining 50% of the Founder Shares,
for a period ending on the six-month anniversary of the closing of the Business Combination or (C) in each case, subsequent to the Business
Combination, the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction that results
in all of the Public Shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

(b)
The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Units (including the Private Shares and Private
Rights) until 30 days after the completion of a 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 6(a) and 6(b), Transfers of the Founder Shares and Private Units (including the
Private Shares and Private Rights), are permitted (a) to the Company’s officers or directors, any affiliates or family members
of any of the Company’s officers or directors, any affiliate of the Sponsor, any members of the Sponsor, or any of its affiliates,
officers, directors, direct and indirect equityholders, (b) in the case of an individual, by gift to a member of the individual’s
immediate family, to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such
person, or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death
of the 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 a business combination at prices no greater than the price at which the securities
were originally purchased; (f) in the event of the Company’s liquidation prior to the completion of the Company’s initial
business combination; or (g) by virtue of the laws of Delaware or the Sponsor’s limited liability company agreement upon dissolution
of the Sponsor, provided, however, that in the case of clauses (a) through (e), or (g) these permitted transferees must enter
into a written agreement agreeing to be bound by these transfer restrictions.

 

7.
The Sponsor and each Insider 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, if any (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 Insider’s background. The
Sponsor and each Insider’s questionnaire furnished to the Company, if any, 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.

 

8.
Except as disclosed in the Prospectus, neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director
or officer of the Company, 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).

 

    3

     

    

 

9.
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 director on the board of directors of the Company and hereby consents to being named in the
Prospectus as an officer/and or director of the Company.

 

10.
As used herein, (i) “Business Combination” shall mean a merger, amalgamation, share exchange, asset acquisition,
share purchase, reorganization or similar business combination, involving the Company and one or more businesses; (i) “Ordinary
Shares” shall mean, collectively, the Ordinary Shares; (ii) “Founder Shares” shall mean the 2,875,000
Ordinary Shares, par value $0.0001 per share, issued and outstanding immediately prior to the consummation of the Public Offering; (iii)
“Initial Shareholders” shall mean the Sponsor and any Insider that holds Founder Shares; (iv) “Private
Units” shall mean the 450,000 units (or up to 495,000 units if the over-allotment option is exercised in full), each comprised
of one ordinary share and one Right, that the Sponsor has agreed to purchase for an aggregate purchase price of $4,500,000 in the aggregate
(or up to $4,950,000 if the over-allotment option is exercised in full), or a purchase price of $10.00 per Private Unit, in a private
placement that shall occur simultaneously with the consummation of the Public Offering; (v) “Private Rights”
shall mean the rights underlying the Private Units, (vi) “Private Shares” shall mean the Ordinary Shares underlying
the Private Units, (vii) “Public Shareholders” shall mean the holders of securities issued in the Public Offering;
(viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of the Public Offering
shall be deposited; (ix) “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, (the “Exchange Act”), 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).

 

11.
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 the Sponsor and each Insider that is the subject of any such change, amendment modification or waiver.

 

12.
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.

 

13.
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.

 

14.
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.

 

    4

     

    

 

15.
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.

 

16.
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.

 

17.
Each party hereto shall not be liable for any breaches or misrepresentations contained in this Letter Agreement by any other party to
this Letter Agreement (including, for the avoidance of doubt, any Insider with respect to any other Insider), and no party shall be liable
or responsible for the obligations of another party, including, without limitation, indemnification obligations and notice obligations.

 

18.
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 June 30, 2021;
provided further that paragraph 3 of this Letter Agreement shall survive such liquidation.

 

    5

     

    

 

	 	Sincerely,

    

    Nocturne Sponsor, LLC
	 	 
	 	By:	 /s/
    Henry Monzon
	 	 	Name: 	Henry
    Monzon
	 	 	Title:	Managing
    Member

 

	 	 /s/
    Henry Monzon
	 	Henry
    Monzon

 

	 	 /s/
    Ka Seng Ao
	 	Ka
    Seng Ao

 

	 	 /s/
    Etienne Snyman
	 	Etienne
    Snyman

 

	 	 /s/
    Marcus Vincent Gomez
	 	Marcus
    Vincent Gomez

 

	 	 /s/
    Kashan Zaheer Piracha
	 	Kashan
    Zaheer Piracha

 

	Acknowledged
    and Agreed:	 
	 	 
	NOCTURNE
    ACQUISITION CORPORATION	 
	 	 
	By:	/s/
    Henry Monzon 	 
	 	Name: 	Henry
    Monzon	 
	 	Title:	Chairman
    and Chief Executive Officer	 

 

 

 

 

 

 

[Signature
Page - Letter Agreement]

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