Document:

Exhibit 10.1

 

March
16, 2022

 

Goldenstone
Acquisition Limited

4360
E New York St.

Aurora,
IL 60504

 

Maxim
Group LLC

405
Lexington Ave.

New
York, NY 10174

 

	 	Re:	Initial
    Public Offering

 

Gentlemen:

 

This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Goldenstone Acquisition Limited, a Delaware corporation (the “Company”), and Maxim
Group LLC, as Representative (the “Representative”) of the several underwriters named on Schedule A thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of common stock of the Company, no
par value (the “Common Stock”), one redeemable warrant, each warrant entitling its holder to purchase one-half
(1/2) of one share of Common Stock at an exercise price of $11.50 per full share (the “Warrants”), and one
right to receive one-tenth (1/10) of one share of Common Stock (the “Rights”). Certain capitalized terms used
herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition
of the benefit that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all Common Stock beneficially
owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.
The undersigned hereby agrees that in the event that the Company fails to consummate a Business Combination within 12 months, the time
period by which the Company must consummate a Business Combination may be extended by up to nine months (or, if the Office of the Delaware
Division of Corporations shall not be open for business (including filing of corporate documents) on such date the next date upon which
the Office of the Delaware Division of Corporations shall be open). For such extension, the undersigned, together with its affiliates
or designees, will deposit into the Trust Fund for each additional three month period, an aggregate of $500,000, or up to $575,000 if
the Underwriters' over-allotment option is exercised in full ($0.10 per share) on or prior to the date of the applicable deadline. Such
extension payments would be made in the form of non-interest bearing loans to the Company (the “Extension Loans”),
which are due and payable on the consummation of the initial Business Combination out of the proceeds of the Trust Fund released to the
Company, or at the option of the Sponsor, all or a portion of all of the total loan amount may be converted into units at a price of
$10.00 per unit, which units will be identical to the Private Units. If the Company does not complete a Business Combination, the loans
would be repaid out of funds not held in the trust account, and only to the extent available.

 

3.
(a) Unless the Company’s stockholders are previously given the option to redeem their shares in connection with amending applicable
documents to extend the time that the Company has to complete a Business Combination and that the Company fails to consummate a Business
Combination within 12 months from the closing of the Company’s IPO (or, in the event that the Company extended the period of time
to consummate a business combination up to three times, each by an additional three months, within 21 months) from the closing of the
Company’s IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to
the holders of the IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and
any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares including any
shares underlying the Private Units (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company, including but not limited to any Extension Loans, and
will not seek recourse against the Trust Fund for any reason whatsoever. The undersigned acknowledges and agrees that there will be no
distribution from the Trust Fund with respect to any Warrants or Rights underlying the Private Units, all of which will terminate on
the Company’s liquidation.

 

(c)
In the event of the liquidation of the Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against any and
all loss, liability, claims, 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) which
the Company may become subject as a result of any claim by any vendor or other person who is owed money by the Company for services rendered
or products sold or contracted for, but only to the extent necessary to ensure that such loss, liability, claim, damage or expense does
not reduce the amount of funds in the Trust Fund; provided, that such indemnity shall not apply if such vendor or other person has executed
an agreement waiving any claims against the Trust Fund.

 

4.
In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not to seek
recourse for such expenses.

 

5.
The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement, which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

6.
The undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Private Units will be subject
to the transfer restrictions described in the Subscription Agreement relating to the undersigned’s Private Units.

 

7.
In order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire a target
business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company, subject to
any pre-existing fiduciary and contractual obligations the undersigned might have.

 

8.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated with,
or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company’s unaffiliated stockholders from a financial point
of view.

 

9.
Except for a total monthly payment of $25,000 to be paid to our sponsor’s affiliate and officers, neither the undersigned, any
member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation
or other cash payment prior to, or for services rendered in connection with, the consummation of the Business Combination; provided
that the Company shall be allowed to repay working capital loans made by the undersigned to the Company in cash upon consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled to
reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

10.
Neither the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned or
any affiliate of the undersigned originates a Business Combination.

 

    2

     

    

 

11.
The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in all material
respects. The undersigned represents and warrants that:

 

	 	(a)	He, she
    or it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him, her
    or it, or any partnership in which he or she was a general partner at or within two years before the time of filing; or (ii) any
    corporation or business association of which he or she was an executive officer at or within two years before the time of such filing;

 

	 	(b)	He, she
    or it has never had a receiver, fiscal agent or similar officer been appointed by a court for his business or property, or any such
    partnership;

 

	 	(c)	He, she
    or it has never been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	He, she
    or it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
    violations and minor offenses);

 

	 	(e)	He, she
    or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
    of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him, her or it from (i) acting as a futures
    commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
    any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the
    foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee
    of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct
    or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
    in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
    or state securities or federal commodities laws;

 

	 	(f)	He, she,
    or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
    or state authority barring, suspending or otherwise limiting for more than 60 days his, her or its right to engage in any activity
    described in 10(e)(i) above, or to be associated with persons engaged in any such activity;

 

	 	(g)	He, she,
    or it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
    securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

	 	(h)	He, she,
    or it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	He, she,
    or it has never been the subject of, or a party to, any Federal, State or foreign judicial or administrative order, judgment, decree
    or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal, State or foreign
    securities or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies
    including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or
    temporary or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or
    wire fraud or fraud in connection with any business entity;

 

	 	(j)	He, she
    or it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any
    self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary
    authority over its members or persons associated with a member;

 

	 	(k)	He, she
    or it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
    municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

    3

     

    

 

	 	(l)	He, she
    or it was never subject to a final order of a state or foreign securities commission (or an agency of officer of a state performing
    like functions); a state or foreign authority that supervises or examines banks, savings associations, or credit unions; a state
    or foreign insurance commission (or an agency or officer of a state performing like functions); an appropriate federal or foreign
    banking agency; the CFTC; or the National Credit Union Administration that is based on a violation of any law or regulation that
    prohibits fraudulent, manipulative, or deceptive conduct;

 

	 	(m)	He, she
    or it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of the sale
    of the Units, restrained or enjoined him, her or it from engaging or continuing to engage in any conduct or practice: (i) in connection
    with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC or any foreign regulatory agency
    with similar functions; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities
    dealer, investment adviser or paid solicitor of purchasers of securities;

 

	 	(n)	He, she
    or it has never been subject to any order of the SEC or any foreign regulatory agency with similar functions that orders him, her
    or it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud provision of the federal
    securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule
    10b-5 thereunder, Section 15(c) and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section
    5 of the Securities Act;

 

	 	(o)	He, she
    or it has never filed (as a registrant or issuer), or been named as an underwriter in any registration statement or Regulation A
    offering statement filed with the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption,
    or is, currently, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	He, she
    or it has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
    restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme
    or device for obtaining money or property through the mail by means of false representations;

 

	 	(q)	He, she
    or it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an
    agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
    Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
    or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
    union activities;

 

	 	(r)	He, she
    or it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
    “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that:
    (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser;
    (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii)
    bars the undersigned from being associated with any entity or from participating in the offering of any penny stock; and

 

	 	(s)	He, she
    or it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
    self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities association)
    for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

    4

     

    

 

12.
The undersigned hereby waives his, her or its right to exercise redemption rights with respect to any Common Stock owned or to be owned
by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether purchased by the undersigned
prior to the IPO, in the IPO or in the aftermarket, and agrees that he, she or it will not seek redemption with respect to or otherwise
sell, such shares in connection with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions
of the Company’s Amended and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

13.
The undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination
unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the Trust Fund.

 

14.
In connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed by,
and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would result
in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding or claim arising
out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration in accordance with the
International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration shall be brought before
the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be conducted in English and will
be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that the arbitrator panel’s decision
shall be final and enforceable by any court having jurisdiction over the party from whom enforcement is sought. The cost of such arbitrators
and arbitration services, together with the prevailing party’s legal fees and expenses, shall be borne by the non-prevailing party
or as otherwise directed by the arbitrators.

 

15.
As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, contractual
arrangement, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(ii) “Insiders” shall mean all officers, directors and stockholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an Insider
prior to the IPO and any shares of Common Stock underlying the Private Units; (iv) “IPO Shares” shall mean
the shares of Common Stock issued in the Company’s IPO; (v) “Private Units” shall mean (x) the Units
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO and (y) the additional
Units that may be purchased in connection with the exercise of the over-allotment option by the underwriters in the IPO as described
in the Registration Statement; (vi) “Registration Statement” means the registration statement on Form S-1 filed
by the Company with respect to the IPO; and (vii) “Trust Fund” shall mean the trust fund into which a portion
of the net proceeds of the Company’s IPO will be deposited.

 

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.

 

If
to the Representative:

 

Maxim
Group LLC

405
Lexington Ave

New
York, NY 10174

Attn:
Alex Jin

Facsimile:
(212) 895-3773

 

with
a copy (which copy shall not constitute notice) to:

 

Ellenoff
Grossman & Schole LLP 

1345
Avenue of the Americas

New
York, New York 10105

Attn:
Barry Grossman, Esq.

Facsimile.:
(212) 370-7889

 

    5

     

    

 

If
to the Company:

 

Goldenstone
Acquisition Limited

 

4360
E New York St.

Aurora,
IL 60504

Attn:
Eddie Ni, Chief Executive Officer

 

with
a copy (which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP

345
Park Avenue

New
York, NY 10154

Attn:
Giovanni Caruso, Esq.

Facsimile:
(212) 504-3013

 

17.
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 party. 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 parties hereto and
any successors and assigns thereof.

 

18.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.

 

19.
The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative
of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the subject
matter hereof.

 

[SIGNATURES
ON FOLLOWING PAGE]

 

    6

     

    

 

	 	 	GOLDENSTONE
    HOLDING, LLC
	 	 	 
	 	By:	/s/
Eddie Ni
	 	 	Name:
    Eddie Ni
	 	 	Title:
    Member

 

    7

     

    

 

	 	 	RAYMOND
    CHARLES HOLDING, LLC
	 	 	 
	 	By:	 /s/
    Ray Chen
	 	 	Name:
    Ray Chen
	 	 	Title:
    Chief Executive Officer

 

    8

     

    

 

	 	 	ASIA PACIFIC
    CAPITAL MANAGEMENT LIMITED
	 	 	 
	 	By:	/s/
Yongsheng Liu
	 	 	Name:
    Yongsheng Liu
	 	 	Title:
    Director

 

    9

     

    

 

March
16, 2022

 

Goldenstone
Acquisition Limited

4360
E New York St.

Aurora,
IL 60504

 

Maxim
Group LLC

405
Lexington Ave.

New
York, NY 10174

 

	 	Re:	Initial
    Public Offering

 

Gentlemen:

 

This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Goldenstone Acquisition Limited, a Delaware corporation (the “Company”), and Maxim
Group LLC, as Representative (the “Representative”) of the several underwriters named on Schedule A thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of common stock of the Company, no
par value (the “Common Stock”), one redeemable warrant, each warrant entitling its holder to purchase one-half
(1/2) of one share of Common Stock at an exercise price of $11.50 per full share (the “Warrants”), and one
right to receive one-tenth (1/10) of one share of Common Stock (the “Rights”). Certain capitalized terms used
herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition
of the benefit that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.
If the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all Common Stock beneficially
owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.
The undersigned hereby agrees that in the event that the Company fails to consummate a Business Combination within 12 months, the time
period by which the Company must consummate a Business Combination may be extended by up to nine months (or, if the Office of the Delaware
Division of Corporations shall not be open for business (including filing of corporate documents) on such date the next date upon which
the Office of the Delaware Division of Corporations shall be open). For such extension, the undersigned, together with its affiliates
or designees, will deposit into the Trust Fund for each additional three month period, an aggregate of $500,000, or up to $575,000 if
the Underwriters' over-allotment option is exercised in full ($0.10 per share) on or prior to the date of the applicable deadline. Such
extension payments would be made in the form of non-interest bearing loans to the Company (the “Extension Loans”),
which are due and payable on the consummation of the initial Business Combination out of the proceeds of the Trust Fund released to the
Company, or at the option of the Sponsor, all or a portion of all of the total loan amount may be converted into units at a price of
$10.00 per unit, which units will be identical to the Private Units. If the Company does not complete a Business Combination, the loans
would be repaid out of funds not held in the trust account, and only to the extent available.

 

3.
(a) Unless the Company’s stockholders are previously given the option to redeem their shares in connection with amending applicable
documents to extend the time that the Company has to complete a Business Combination and that the Company fails to consummate a Business
Combination within 12 months from the closing of the Company’s IPO (or, in the event that the Company extended the period of time
to consummate a business combination up to three times, each by an additional three months, within 21 months) from the closing of the
Company’s IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to
the holders of the IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

    10

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and
any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares (“Claim”)
and hereby waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with
the Company, including but not limited to any Extension Loans, and will not seek recourse against the Trust Fund for any reason whatsoever.

 

4.
The undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement, which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

5.
In order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire a target
business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company, subject to
any pre-existing fiduciary and contractual obligations the undersigned might have.

 

6.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated with,
or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent
investment banking firm that such Business Combination is fair to the Company’s unaffiliated stockholders from a financial point
of view.

 

7.
Except for a total monthly payment of $25,000 to be paid to our sponsor’s affiliate and officers, neither the undersigned, any
member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation
or other cash payment prior to, or for services rendered in connection with, the consummation of the Business Combination; provided
that the Company shall be allowed to repay working capital loans made by the undersigned to the Company in cash upon consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled to
reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

8.
Neither the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned or
any affiliate of the undersigned originates a Business Combination.

 

9.
The undersigned agrees to be a director/officer of the Company until the earlier of the consummation by the Company of a Business Combination
or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company and the Representative
is true and accurate in all material respects, does not omit any material information with respect to the undersigned’s biography
and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities
Act of 1933. The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate
in all material respects. The undersigned represents and warrants that:

 

	 	(a)	He, she
    or it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him, her
    or it, or any partnership in which he or she was a general partner at or within two years before the time of filing; or (ii) any
    corporation or business association of which he or she was an executive officer at or within two years before the time of such filing;

 

	 	(b)	He, she
    or it has never had a receiver, fiscal agent or similar officer been appointed by a court for his business or property, or any such
    partnership;

 

	 	(c)	He, she
    or it has never been convicted of fraud in a civil or criminal proceeding;

 

	 	(d)	He, she
    or it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
    violations and minor offenses);

 

    11

     

    

 

	 	(e)	He, she
    or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
    of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him, her or it from (i) acting as a futures
    commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
    any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of the
    foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee
    of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct
    or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
    in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
    or state securities or federal commodities laws;

 

	 	(f)	He, she,
    or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
    or state authority barring, suspending or otherwise limiting for more than 60 days his, her or its right to engage in any activity
    described in 10(e)(i) above, or to be associated with persons engaged in any such activity;

 

	 	(g)	He, she,
    or it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
    securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

	 	(h)	He, she,
    or it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

	 	(i)	He, she,
    or it has never been the subject of, or a party to, any Federal, State or foreign judicial or administrative order, judgment, decree
    or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal, State or foreign
    securities or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies
    including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or
    temporary or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or
    wire fraud or fraud in connection with any business entity;

 

	 	(j)	He, she
    or it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any
    self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary
    authority over its members or persons associated with a member;

 

	 	(k)	He, she
    or it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
    municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

	 	(l)	He, she
    or it was never subject to a final order of a state or foreign securities commission (or an agency of officer of a state performing
    like functions); a state or foreign authority that supervises or examines banks, savings associations, or credit unions; a state
    or foreign insurance commission (or an agency or officer of a state performing like functions); an appropriate federal or foreign
    banking agency; the CFTC; or the National Credit Union Administration that is based on a violation of any law or regulation that
    prohibits fraudulent, manipulative, or deceptive conduct;

 

	 	(m)	He, she
    or it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of the sale
    of the Units, restrained or enjoined him, her or it from engaging or continuing to engage in any conduct or practice: (i) in connection
    with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC or any foreign regulatory agency
    with similar functions; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities
    dealer, investment adviser or paid solicitor of purchasers of securities;

 

    12

     

    

 

	 	(n)	He, she
    or it has never been subject to any order of the SEC or any foreign regulatory agency with similar functions that orders him, her
    or it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud provision of the federal
    securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule
    10b-5 thereunder, Section 15(c) and Section 206(1) of the Advisers Act or any other rule or regulation thereunder; or (ii) Section
    5 of the Securities Act;

 

	 	(o)	He, she
    or it has never filed (as a registrant or issuer), or been named as an underwriter in any registration statement or Regulation A
    offering statement filed with the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption,
    or is, currently, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

	 	(p)	He, she
    or it has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
    restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme
    or device for obtaining money or property through the mail by means of false representations;

 

	 	(q)	He, she
    or it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an
    agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
    Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
    or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
    union activities;

 

	 	(r)	He, she
    or it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
    “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that:
    (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment adviser;
    (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person; or (iii)
    bars the undersigned from being associated with any entity or from participating in the offering of any penny stock; and

 

	 	(s)	He, she
    or it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
    self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities association)
    for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

10.
The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this letter
agreement and to serve as a Director and/or officer of the Company.

 

11.
The undersigned hereby waives his, her or its right to exercise redemption rights with respect to any Common Stock owned or to be owned
by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether purchased by the undersigned
prior to the IPO, in the IPO or in the aftermarket, and agrees that he, she or it will not seek redemption with respect to or otherwise
sell, such shares in connection with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions
of the Company’s Amended and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

12.
The undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination
unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the Trust Fund.

 

    13

     

    

 

13.
In connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed by,
and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would result
in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding or claim arising
out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration in accordance with the
International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration shall be brought before
the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be conducted in English and will
be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that the arbitrator panel’s decision
shall be final and enforceable by any court having jurisdiction over the party from whom enforcement is sought. The cost of such arbitrators
and arbitration services, together with the prevailing party’s legal fees and expenses, shall be borne by the non-prevailing party
or as otherwise directed by the arbitrators.

 

14.
As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, contractual
arrangement, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(ii) “Insiders” shall mean all officers, directors and stockholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an Insider
prior to the IPO and any shares of Common Stock underlying the Private Units; (iv) “IPO Shares” shall mean
the shares of Common Stock issued in the Company’s IPO; (v) “Registration Statement” means the registration
statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust Fund” shall mean the trust
fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

15.
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.

 

If
to the Representative:

 

Maxim
Group LLC

405
Lexington Ave

New
York, NY 10174

Attn:
Alex Jin

Facsimile:
(212) 895-3773

 

with
a copy (which copy shall not constitute notice) to:

 

Ellenoff
Grossman & Schole LLP 

1345
Avenue of the Americas

New
York, New York 10105

Attn:
Barry Grossman, Esq.

Facsimile.:
(212) 370-7889

 

If
to the Company:

 

Goldenstone
Acquisition Limited

 

4360
E New York St.

Aurora,
IL 60504

Attn:
Eddie Ni, Chief Executive Officer

 

with
a copy (which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP

345
Park Avenue

New
York, NY 10154

Attn:
Giovanni Caruso, Esq.

Facsimile:
(212) 504-3013

 

    14

     

    

 

16.
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 party. 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 parties hereto and
any successors and assigns thereof.

 

17.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent
they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.

 

18.
The undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters a representative
of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with respect to the subject
matter hereof.

 

[SIGNATURES
ON FOLLOWING PAGE]

 

    15

     

    

 

	 	/s/
    Eddie Ni
	 	Eddie
    Ni

 

	 	/s/
    Ray Chen
	 	Ray Chen

 

	 	/s/
    Yongsheng Liu
	 	Yongsheng
    Liu

 

	 	/s/
Jonathan McKeage
	 	Jonathan
    McKeage

 

	 	/s/
Pin Tai
	 	Pin Tai

 

	 	/s/
Nan Sun
	 	Nan Sun

 

Signature
Page to the Insider Letter

 

 

 16Exhibit 10.2

 

STOCK ESCROW AGREEMENT

 

STOCK ESCROW AGREEMENT, dated
as of March 16, 2022 (“Agreement”), by and among GOLDENSTONE ACQUISITION LIMITED, a Delaware corporation (the “Company”),
the initial stockholders listed on Exhibit A attached hereto (each, an “Initial Stockholder” and collectively the “Initial
Stockholders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York limited liability trust company (the “Escrow
Agent”).

 

WHEREAS, the Company has entered
into an Underwriting Agreement, dated as of March 16, 2022 (“Underwriting Agreement”), with Maxim Group LLC, acting as the
representative of the underwriters (collectively, the “Underwriters”), pursuant to which, among other matters, the Underwriters
have agreed to purchase 5,000,000 units (“Units”) of the Company, plus an additional 750,000 Units if the Underwriters exercise
their over-allotment option in full. Each Unit consists of one share of common stock of the Company, no par value (an “Common Stock”),
one redeemable warrant, each redeemable warrant entitling its holder to purchase one-half (1/2) of one share of Common Stock at an exercise
price of $11.50 per full share of Common Stock, and one right to receive one-tenth (1/10) of a share of Common Stock, all as more fully
described in the Company’s final Prospectus, dated March 16, 2022 (“Prospectus”), comprising part of the Company’s
Registration Statement on Form S-1 (File No. 333-257209) under the Securities Act of 1933, as amended (“Registration Statement”),
declared effective on March 16, 2022 (“Effective Date”).

 

WHEREAS, the Initial Stockholders
have agreed as a condition of the sale of the Units to deposit their Insider Shares (as defined in the Prospectus), as set forth opposite
their respective names in Exhibit A attached hereto (collectively “Escrow Shares”), in escrow as hereinafter provided.

 

WHEREAS, the Company and the
Initial Stockholders desire that the Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as hereinafter provided.

 

IT IS AGREED:

 

1. Appointment
of Escrow Agent. The Company and the Initial Stockholders hereby appoint the Escrow Agent to act in accordance with and subject to
the terms of this Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such
terms.

 

2. Deposit
of Escrow Shares. On or prior to the date hereof, each of the Initial Stockholders delivered to the Escrow Agent certificates representing
such Initial Stockholder’s respective Escrow Shares, together with applicable share powers, to be held and disbursed subject to
the terms and conditions of this Agreement. Each of the Initial Stockholders acknowledges that the certificate representing such Initial
Stockholder’s Escrow Shares is legended to reflect the deposit of such Escrow Shares under this Agreement.

 

3. Disbursement
of the Escrow Shares.

 

The Escrow Agent shall hold
the Escrow Shares during the period (the “Escrow Period”) commencing on the date hereof and ending 180 days after the date
of the consummation of the Company’s initial business combination (as described in the Registration Statement, hereinafter a “Business
Combination”). The Company shall promptly provide written notice of the consummation of a Business Combination to the Escrow Agent.
Upon completion of the Escrow Period, the Escrow Agent shall disburse such amount of each Initial Stockholder’s Escrow Shares (and
any applicable share power) to such Initial Stockholder; provided, however, that if the Escrow Agent is notified by the Company pursuant
to Section 6.7 hereof that the Company is being liquidated at any time during the Escrow Period, then the Escrow Agent shall promptly
destroy the certificates representing the Escrow Shares; provided further, however, that if, within the six months after the Company consummates
a Business Combination, the Company (or the surviving entity) subsequently consummates a liquidation, merger, stock exchange or other
similar transaction which results in all of the stockholders of such entity having the right to exchange their shares of Common Stock
for cash, securities or other property, then the Escrow Agent will, upon receipt of a written notice executed by the Chairman of the Board,
Chief Executive Officer or other authorized officer of the Company, in form reasonably acceptable to the Escrow Agent, certifying that
such transaction is then being consummated or such conditions have been achieved, as applicable, release the Escrow Shares to the Initial
Stockholders. The Escrow Agent shall have no further duties hereunder after the disbursement or destruction of the Escrow Shares in accordance
with this Section 3.

 

     

     

    

 

3.2 Notwithstanding Section
3.1, if the Underwriters do not exercise their over-allotment option to purchase an additional 750,000 Units of the Company in full within
45 days of the date of the Prospectus (as described in the Underwriting Agreement), the Initial Stockholders agree that the Escrow Agent
shall return to the Company for cancellation, at no cost, the number of Escrow Shares held by each such holder determined by multiplying
(a) the product of (i) 750,000 multiplied by (ii) a fraction, (x) the numerator of which is the number of Escrow Shares held by each such
holder, and (y) the denominator of which is the total number of Escrow Shares, by (b) a fraction, (i) the numerator of which is 750,000
minus the number of shares of Common Stock purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the
denominator of which is 750,000. The Company shall promptly provide written notice to the Escrow Agent of the expiration or termination
of the Underwriters’ over-allotment option and the number of Units, if any, purchased by the Underwriters in connection with their
exercise thereof.

 

4. Rights
of Initial Stockholders in Escrow Shares.

 

4.1 Voting Rights as a Stockholder.
Subject to the terms of the Insider Letters described in Section 4.4 hereof and except as herein provided, the Initial Stockholders shall
retain all of their rights as stockholders of the Company during the Escrow Period, including, without limitation, the right to vote such
shares.

 

4.2 Dividends and Other Distributions
in Respect of the Escrow Shares. During the Escrow Period, all dividends payable in cash with respect to the Escrow Shares shall be
paid to the Initial Stockholders, but all dividends payable in shares or other non-cash property (“Non-Cash Dividends”) shall
be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used herein, the term “Escrow Shares” shall
be deemed to include the Non-Cash Dividends distributed thereon, if any.

 

4.3 Restrictions on Transfer.
During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) among the initial shareholders or to the
initial shareholders’ or the Company’s officers, directors, consultants or their affiliates, (ii) to a holder’s
shareholders or members upon the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to
a member of the holder’s immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s
immediate family, in each case for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant
to a qualified domestic relations order, (vi) to the Company for no value for cancellation in connection with the consummation of
a Business Combination, (vii) in connection with the consummation of a Business Combination by private sales at prices no greater
than the price at which the Private Warrants were originally purchased, (viii) in the event of the Company’s liquidation prior
to its consummation of an initial Business Combination or (ix) in the event that, subsequent to the consummation of an initial Business
Combination, the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s
shareholders having the right to exchange their Shares for cash, securities or other property, in each case, except for clause (vi), (viii)
or (ix) on the condition that such transfers may be implemented only upon the respective transferee’s written agreement to be bound
by the terms and conditions of this Agreement and of the Insider Letter (as defined below) signed by the Initial Stockholder transferring
the Escrow Shares.

 

4.4 Insider
Letters. Each of the Initial Stockholders has executed a letter agreement with Maxim and the Company, dated as indicated on Exhibit
A hereto, and the form of which is filed as an exhibit to the Registration Statement (“Insider Letter”), respecting the rights
and obligations of such Initial Stockholder in certain events, including but not limited to the liquidation of the Company.

 

5. Concerning
the Escrow Agent.

 

5.1 Good Faith Reliance.
The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise of its own best judgment,
and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including
counsel chosen by the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due execution and the
validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which is
believed by the Escrow Agent to be genuine and to be signed or presented by the proper person or persons. The Escrow Agent shall not be
bound by any notice or demand, or any waiver, modification, termination or rescission of this Agreement unless evidenced by a writing
delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the Escrow Agent are affected, unless
it shall have given its prior written consent thereto.

 

    2

     

    

 

5.2 Indemnification.
The Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses, including reasonable counsel fees
and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding involving any claim which
in any way, directly or indirectly, arises out of or relates to this Agreement, the services of the Escrow Agent hereunder, or the Escrow
Shares held by it hereunder, other than expenses or losses arising from the gross negligence or willful misconduct of the Escrow Agent.
Promptly after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of any action, suit or proceeding,
the Escrow Agent shall notify the other parties hereto in writing. In the event of the receipt of such notice, the Escrow Agent, in its
sole discretion, may commence an action in the nature of interpleader in an appropriate court to determine ownership or disposition of
the Escrow Shares or it may deposit the Escrow Shares with the clerk of any appropriate court or it may retain the Escrow Shares pending
receipt of a final, non-appealable order of a court having jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and delivered. The provisions of this Section 5.2 shall survive in the event the Escrow
Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3 Compensation. The
Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered by it hereunder. The Escrow Agent
shall also be entitled to reimbursement from the Company for all expenses paid or incurred by it in the administration of its duties hereunder
including, but not limited to, all counsel, advisors’ and agents’ fees and disbursements and all taxes or other governmental
charges.

 

5.4 Further Assurances.
From time to time on and after the date hereof, the Company and the Initial Stockholders shall deliver or cause to be delivered to the
Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably
request to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure itself
that it is protected in acting hereunder.

 

5.5 Resignation. The
Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties hereto
written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time
that the Escrow Agent shall turn over to a successor escrow agent appointed by the Company, the Escrow Shares held hereunder. If no new
escrow agent is so appointed within the 60 day period following the giving of such notice of resignation, the Escrow Agent may deposit
the Escrow Shares with any court it reasonably deems appropriate.

 

5.6 Discharge of Escrow Agent.
The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested in writing at any time by the
other parties hereto, jointly, provided, however, that such resignation shall become effective only upon acceptance of appointment by
a successor escrow agent as provided in Section 5.5.

 

5.7 Liability. Notwithstanding
anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross negligence or its own
willful misconduct.

 

5.8 Waiver. The Escrow
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 Escrow 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. 

 

6. Miscellaneous.

 

6.1 Governing Law. This
Agreement shall for all purposes be deemed to be made under and shall be construed 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.

 

6.2 Third Party Beneficiaries.
Each of the Initial Stockholders hereby acknowledges that Maxim is a third party beneficiaries of this Agreement and this Agreement may
not be modified or changed without the prior written consent of Maxim.

 

    3

     

    

 

6.3 Entire Agreement.
This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and, except as expressly
provided herein, may not be changed or modified except by an instrument in writing signed by the party to the charged.

 

6.4 Headings. The headings
contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation thereof.

 

6.5 Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives, successors
and assigns.

 

6.6 Notices. Any notice
or other communication required or which may be given hereunder shall be in writing and either be delivered personally or be mailed, certified
or registered mail, or by private national courier service, return receipt requested, postage prepaid, and shall be deemed given when
so delivered personally or, if mailed, two days after the date of mailing, as follows:

 

If to the Company, to:

 

Goldenstone Acquisition Limited

4360 E New York St.

Aurora, IL 60504

Attn: Eddie Ni, Chief Executive Officer

 

If to a Stockholder, to his address set forth in
Exhibit A.

 

and if to the Escrow Agent, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Ian McKay

 

A copy (which copy shall not constitute notice)
sent hereunder shall be sent to:

 

Maxim Group LLC

405 Lexington Ave

New York, NY 10174

Attn: Alex Jin

Facsimile: (212) 895-3773

 

and:

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Giovanni Caruso, Esq.

 

and:

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, NY 10105

Attn: Barry Grossman, Esq.

 

The parties may change the persons
and addresses to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided
herein for giving notice.

 

6.7 Liquidation of the Company.
The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company in the event that the Company
fails to consummate a Business Combination within the time period specified in the Prospectus.

 

[Signature Page Follows]

 

    4

     

    

 

WITNESS the execution of this Agreement as of the date first above
written.

 

	 	COMPANY:
	 	 	 
	 	GOLDENSTONE ACQUISITION LIMITED
	 	 	 
	 	By:	 
	 	 	Name:  	Eddie Ni 
	 	 	Title: 	Chief Executive Officer

 

	 	INITIAL STOCKHOLDERS:
	 	 	 
	 	GOLDENSTONE HOLDING, LLC
	 	 	 
	 	By:	 
	 	 	Name: 	Eddie Ni
	 	 	Title:	Member
	 	 	 
	 	RAYMOND CHARLES HOLDING, LLC
	 	 	 
	 	By:	 
	 	 	
    Name: Ray Chen

    Title: Chief Executive Officer

	 	 	 
	 	ASIA PACIFIC CAPITAL MANAGEMENT LIMITED
	 	 	 
	 	By:	 
	 	 	Name: Yongsheng Liu
	 	 	Title: Director
	 	 	 
	 	 	Jonathan McKeage
	 	 	 
	 	 	Pin Tai
	 	 	 
	 	 	Nan Sun
	 	 	 
	 	LSS Investment, LLC
	 	 	 
	 	By:	 
	 	 	Name: Mao Lee
	 	 	Title: Member 
	 	Goldenstone Capital, LLC
	 	 	 
	 	By:	 
	 	 	Name: Eddie Ni
	 	 	Title: Authorized Signatory

 

    5

     

    

 

	 	CONTINENTAL STOCK TRANSFER &
 TRUST COMPANY 
	 	 	 
	 	By:	/s/ Erika Young
	 	 	Name: 	 Erika Young
	 	 	Title: 	Vice President

 

Signature Page to Goldenstone Stock Escrow Agreement

 

    6

     

    

 

EXHIBIT A

 

	Name and Address of Initial Stockholder1	 	
    Number

    of Shares
	 	 	Date of Insider Letter	 
	Goldenstone Holding, LLC	 	 	200,000	 	 	 	 March 16, 2022	 
	Raymond Charles Holding, LLC	 	 	100,000	 	 	 	 March 16, 2022	 
	Asia Pacific Capital Management Limited	 	 	100,000	 	 	 	 March 16, 2022	 
	Goldenstone Capital, LLC	 	 	842,350	 	 	 	 March 16, 2022	 
	LSS Investment, LLC	 	 	150,150	 	 	 	March 16,2022	 
	Pin Tai	 	 	15,000	 	 	 	 March 16, 2022	 
	Jonathan McKeage	 	 	15,000	 	 	 	 March 16, 2022	 
	Nan Sun	 	 	15,000	 	 	 	 March 16, 2022	 

 

 

	1	The address of each of the individuals is c/o, Goldenstone
Acquisition Limited, 4360 E New York St., Aurora, IL 60504.

 

 

7

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