Document:

Exhibit 10.10

 

FOUNDER
SHARE TRANSFER AGREEMENT

 

THIS FOUNDER SHARE TRANSFER
AGREEMENT (this “Agreement”), dated as of September __, 2021, is by and among Smilodon Capital, LLC, a Delaware
limited liability company (the “Sponsor”), Project Energy Reimagined Acquisition Corp., a Cayman Islands exempted company
(the “SPAC”), and the investor set forth on the signature page hereto (“Investor”). This Agreement
may be executed by an investment manager on behalf of managed funds and/or accounts (with the allocations for such accounts indicated
on the signature page hereto) and for the elimination of doubt such fund or account shall, severally and not jointly, be the Investor
hereunder; provided that the IPO Indication (as defined below) for all such managed funds or accounts shall be [9/9%/ 8.5%/ 4.95%]
in aggregate (the “Specified Percentage”).

 

WHEREAS, in connection with
the initial public offering (the “IPO”) of 25,000,000 units of the SPAC, Investor has expressed an interest in
acquiring up to the Specified Percentage of the units in the IPO (not including any over-allotment option), which amount shall in no event
exceed the Specified Percentage of the total Class A ordinary shares, par value $0.0001 per share (the “Class A Shares”),
underlying the units (the “IPO Indication”), at a price of $10.00 per unit.

 

WHEREAS, the parties wish
to enter into this Agreement pursuant to which Investor will purchase from the Sponsor Class B ordinary shares, par value $0.0001
per share, of the SPAC (the “Founder Shares”) for the same value paid by the Sponsor, or approximately $0.004 per share.

 

NOW THEREFORE, the parties
hereto hereby agree as follows:

 

Section 1          Sale
and Purchase.

 

		(a)	In connection with the IPO Indication,
                                            and subject to the satisfaction of the conditions set forth in Section 1(b), the Sponsor
                                            hereby agrees to sell to Investor [200,000/ 171,717/100,000] Class B Shares (the
                                            “Transferred Shares”) for the purchase price of $0.004 per share (such
                                            aggregate price for the Transferred Shares, the “Transfer Price”) on the
                                            date of the closing of the IPO, and Investor hereby agrees to purchase the Transferred Shares
                                            (the “Transfer”); provided that the number of Transferred Shares shall
                                            be proportionally reduced if the number of outstanding Founder Shares is reduced as a result
                                            of the sale of less than 25 million Class A Shares in the IPO. [; and provided further,
                                            the number of Transferred Shares shall be proportionally reduced if Investor purchases less
                                            than the Specified Percentage as a result of Investor being allocated less than Investor’s
                                            IPO Indication.]1 Concurrently with the Transfer, in consideration for the transfer
                                            of the Transferred Shares, Investor shall pay the Transfer Price to the Sponsor in immediately
                                            available funds by wire transfer or other method agreed upon by the parties.

 

		(b)	Subject to (i) the fulfillment by
                                            Investor of 100% of the IPO Indication (which shall be deemed fulfilled by the acquisition
                                            of 100% of the units of the SPAC allocated to Investor by the underwriters in the IPO up
                                            to the IPO Indication), (ii) the accuracy of the Investor’s representations and
                                            warranties set forth in Section 4 hereof, and (iii) Investor’s payment
                                            of the Transfer Price as contemplated by Section 1(a) of this Agreement,
                                            the Transfer [of the Transferred Shares (or, in the event the Investor is allocated less
                                            than Investor’s IPO Indication, the number of Transferred Shares reduced proportionally]2
                                            shall occur and be effective upon the closing of the IPO and Investor shall be registered
                                            as the record owner of the Transferred Shares on the books and records of the SPAC’s
                                            transfer agent (subject to Investor providing such information as the transfer agent customarily
                                            and reasonably requests to record such ownership).

 

		(c)	Following the transfer to Investor, the number of Transferred Shares shall not be subject to cut-back,
mandatory repurchase, redemption, reduction or forfeiture prior to or in connection with the Business Combination (as defined below),
including, without limitation, in the event the underwriters for the IPO do not exercise their over-allotment option or a result of any
forfeitures, concessions, modifications or “earn-out” triggers in connection with the negotiation of a Business Combination;
provided, for the avoidance doubt, the foregoing shall not preclude the waiver of the anti-dilution provisions with respect to the Founder
Shares in accordance with the SPAC’s certificate of incorporation as provided therein, the conversion of the Transferred Shares
into Class A Shares in accordance with SPAC’s memorandum and articles of association or the conversion, exchange or adjustment
of the Transferred Shares (or any Class A Shares issued upon conversion thereof), as a matter of law in connection with a merger
or otherwise or in connection with an amendment of the SPAC’s or any successor entity’s memorandum and articles of association,
certificate of incorporation or comparable organizational documents.

 

 

1 Included in agreement with J. Wood Capital only.

2 Included in agreement with J. Wood Capital only.

 

     

     

    

 

		(d)	In the event the IPO does not occur by October 31, 2021, this Agreement shall terminate and be of
no further force and effect.

 

Section 2          Representations
and Warranties of the SPAC. The SPAC hereby represents and warrants to Investor as of the date hereof and as of the closing date of
the IPO, as follows:

 

		(a)	The SPAC is duly organized and in good standing (to the extent applicable) under its jurisdiction of organization
and has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions
contemplated hereby.

 

		(b)	This Agreement has been duly and validly executed and delivered by the SPAC and constitutes a legal, valid
and binding obligation of the SPAC enforceable against the SPAC in accordance with its terms, subject to laws of general application relating
to bankruptcy, insolvency and the relief of debtors and the rules of law governing specific performance, injunctive relief and other
equitable remedies (the “Enforceability Exceptions”).

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby
and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default
under, any of the SPAC’s organizational documents, any agreement or other instrument to which the SPAC is a party or by which the
SPAC is bound, or any decree, order, statute, rule or regulation applicable to the SPAC.

 

		(d)	The Transferred Shares were duly authorized and validly issued, fully paid and non-assessable, free and
clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options, voting trusts, proxies and other
arrangements or transfer or other restrictions of any kind (“Encumbrances”), other than those arising under applicable
securities laws and as provided in Section 5 below or as otherwise disclosed in the SPAC’s Registration Statement on Form S-1
for the IPO (the “Registration Statement”), and were not issued in violation of, or subject to, any preemptive or similar
rights.

 

		(e)	The SPAC’s memorandum and articles of association shall provide that the Transferred Shares will
convert into Class A Shares automatically in connection with the consummation of the Business Combination (and will not provide for
conversion at the option of the Investor prior to such automatic conversion).

 

		(f)	No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of the SPAC in connection with the transactions contemplated by this Agreement.

 

		(g)	None of the information conveyed to the Investor in connection with the transactions contemplated by this
Agreement will constitute material nonpublic information of the SPAC upon the effectiveness of the Registration Statement.

 

Section 3          Representations
and Warranties of the Sponsor. The Sponsor hereby represents and warrants to Investor as of the date hereof and as of the closing
date of the IPO, as follows:

 

		(a)	The Sponsor is duly organized and in good standing (to the extent applicable) under its jurisdiction of
organization and has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby.

 

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		(b)	This Agreement has been duly and validly executed and delivered by the Sponsor and constitutes a legal,
valid and binding obligation of the Sponsor enforceable against the Sponsor in accordance with its terms, subject to the Enforceability
Exceptions.

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby
and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default
under, any of the Sponsor’s organizational documents, any agreement or other instrument to which the Sponsor is a party or by which
the Sponsor is bound, or any decree, order, statute, rule or regulation applicable to the Sponsor or the Transferred Shares.

 

		(d)	The Transferred Shares (i) are owned of record and beneficially by the Sponsor, free and clear of
all Encumbrances, and (ii) upon consummation of the transactions contemplated by this Agreement, the Investor shall own and receive
good title to the Transferred Shares, free and clear of all Encumbrances, in each case as otherwise agreed herein, those arising under
applicable securities laws or as otherwise disclosed in the Registration Statement.

 

		(e)	No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of the Sponsor in connection with the transactions contemplated by this Agreement.

 

Section 4          Representations
and Warranties of Investor. Investor hereby represents and warrants to the SPAC and the Sponsor as of the date hereof and as of the
closing date of the IPO, as follows:

 

		(a)	Investor is duly organized and in good standing (to the extent applicable) under its jurisdiction of organization
and has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder.

 

		(b)	This Agreement has been duly and validly executed and delivered by Investor and constitutes a legal, valid
and binding obligation of Investor enforceable against Investor in accordance with its terms, subject to the Enforceability Exceptions.

 

		(c)	The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby
and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default
under, any of the Investor’s organizational documents, any agreement or other instrument to which Investor is a party or by which
Investor is bound, or any decree, order, statute, rule or regulation applicable to Investor.

 

		(d)	Investor is an “accredited investor” as that term is defined in Regulation D promulgated under
the Securities Act of 1933, as amended (the “Act”), and has such knowledge and experience in financial and business
matters that Investor is capable of evaluating the merits and risks of Investor’s investment in the Transferred Shares, of making
an informed investment decision with respect thereto, and has the ability and capacity to protect Investor’s interests. Investor
acknowledges and agrees that Sponsor is relying upon the representations and warranties made by Investor in the Questionnaire attached
as Annex A hereto.

 

		(e)	If Investor is not a United States person (as defined by Section 7701(a)(30) of the U.S. Internal
Revenue Code of 1986, as amended, and the regulations promulgated thereunder (collectively, the “Code”)), Investor hereby
represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to
subscribe for the Transferred Shares or any use of this Agreement, including (i) the legal requirements within its jurisdiction for
the purchase of the Transferred Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental
or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant
to the purchase, holding, redemption, sale, or transfer of the Transferred Shares. Investor’s subscription and payment for and continued
beneficial ownership of the Transferred Shares will not violate any applicable securities or other laws of Investor’s jurisdiction.

 

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Section 5          Additional
Agreements and Acknowledgements.

 

		(a)	Founder Share Lock-Up.

 

(i)            Without
the written consent of the SPAC (or any successor thereto following the Business Combination), Investor agrees not to Transfer (as
defined below), assign or sell any Transferred Shares or any Class A Shares issued upon the conversion thereof until the earlier
of (A) one year after the date the SPAC consummates a Business Combination (as defined below) and (B) subsequent to the Business
Combination, (x) if the closing price of the Class A Shares equals or exceeds $12.00 per share (as adjusted for share splits,
share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least 150 days after the consummation a Business Combination or (y) the date on which the SPAC consummates a subsequent liquidation,
merger, share exchange or other similar transaction which results in all of the SPAC’s shareholders having the right to exchange
their Class A Shares for cash, securities or other property. For the avoidance of doubt, this Section 5 shall not restrict Investor
from Transferring any Class A Shares, warrants (including any Class A Shares issued upon exercise of the warrants) or units
of the SPAC acquired in the IPO or in the open market or any Class A Shares, warrants or units of the SPAC acquired in any private
transaction (other than the Transferred Shares).

 

(ii)            For
purposes of this Agreement, “Transfer” shall mean the (a) sale 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 Exchange Act, and the rules and regulations of the Securities and Exchange 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

 

(iii)            Notwithstanding
the provisions set forth in this paragraph 5, Transfers of the Transferred Shares and Class A Shares issued or issuable upon the
exercise or conversion of the Transferred Shares that are held by Investor or any of its permitted transferees (that have complied with
this paragraph 5), are permitted (A) to any person that would be a “Permitted Transferee” of the Sponsor pursuant to
the letter agreement among the SPAC and its officers, directors and the Sponsor to be executed in connection with the IPO; (B) to
an affiliate of Investor; (C) in the case of an individual, by gift to a member of such individual’s immediate family or to
a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable
organization; (D) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (E) in
the case of an individual, pursuant to a qualified domestic relations order; (F) in the event of the SPAC’s liquidation, merger,
capital stock exchange or other similar transaction which results in all of the SPAC’s stockholders having the right to exchange
their shares of Class A Shares for cash, securities or other property subsequent to the SPAC’s completion of an initial Business
Combination; provided, however, that in the case of clauses (A) through (E), these permitted transferees must enter into a written
agreement with the SPAC agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Agreement.

 

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		(b)	Substantially concurrently with the execution of this Agreement, the SPAC and Sponsor are entering into
separate agreements with other “anchor investors” in respect of indications of interest in purchasing units in the IPO. The
Sponsor represents that the material terms of such other agreements are not more favorable to such other “anchor investors”
thereunder than the terms of this Agreement. In the case that another “anchor investor” is afforded more favorable terms than
Investor, or the SPAC or the Sponsor waive any material obligation of such other “anchor investor” under such other agreement,
the Sponsor shall promptly notify Investor of such more favorable terms or waiver, and Investor shall have the right to elect to have
such more favorable terms, so as to be on the same terms or receive the benefit of the waiver, in which case the parties hereto shall
promptly amend this Agreement to effect the same so that the material terms of such other agreements are not more favorable to such other
 “anchor investors” thereunder than the terms of this Agreement. For the avoidance of doubt, if any other “anchor investor”
has an ability to purchase proportionately more Founders Shares relative to its expression of interest in the IPO than the Investor as
set forth on the signature page hereto, then such other “anchor investor” shall be considered to have more favorable
terms than the Investor. Notwithstanding the foregoing, (i) this provision does not apply to any anchor investor that participates
in the at-risk capital of the Sponsor via a meaningful investment or co-sponsorship or enters into a meaningful formal forward purchase
agreement in connection with a private investment in public equity (PIPE) in support of the SPAC’s potential business combination
or to payments to an anchor investor for acting as a financial advisor to the SPAC in connection with the IPO, and (ii) this provision
shall not be applicable as a result of anchor investors that have expressed an interest in purchasing less than 9.9% of the units in the
IPO being offered the opportunity to receive proportionally fewer Founder Shares than those anchor investors expressing an interest in
9.9% of the units in the IPO.

 

		(c)	Investor acknowledges that the SPAC was formed for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities (a “Business
Combination”).

 

		(d)	Investor acknowledges that it is aware the SPAC will establish a trust account (the “Trust Account”)
for the benefit of its public shareholders upon the closing of the IPO. Investor agrees that it has no right, title, interest or claim
of any kind in or to any monies held in the Trust Account as a result of any liquidation of the SPAC with respect to the Transferred Shares
(or any Class A Shares or other securities issued or issuable upon the exercise, conversion or exchange of the Transferred Shares).
Investor hereby further waives, with respect to any Transferred Shares (or any Class A Shares or other securities issued or issuable
upon the exercise, conversion or exchange of the Transferred Shares) held by it any redemption rights it may have in connection with the
completion of the Business Combination or redemption rights it may have with respect to a shareholder vote to approve an amendment to
the SPAC’s memorandum and articles of association to modify the substance or timing of the SPAC’s obligation to offer redemption
rights in connection with any proposed initial business combination or with respect to any other material provisions relating to shareholders’
rights or pre-initial Business Combination activity. Nothing in this Agreement shall operate as a waiver of any rights held by the Investor
in respect of securities of the SPAC other than with respect to the Transferred Shares, including, for the avoidance of doubt, any redemption
rights or other claims the Investor may have against the Trust Account in respect of any shares of Class A Shares Investor purchases
in the IPO or in the open market or, with respect to any shares (other than Founder Shares) that Investor may later purchase in any transaction
other than as described in this Agreement.

 

		(e)	In connection with the IPO, the SPAC shall enter into a registration rights agreement (the “Registration
Rights Agreement”) with the Sponsor and other holders of Founder Shares in substantially the form filed as an exhibit to the
Registration Statement. The Registration Rights Agreement shall provide Investor with registration rights with respect to the Transferred
Shares that are no less favorable than the registration rights of the other holders of Founder Shares. The SPAC shall use reasonable best
efforts to have an effective registration statement covering the resale of the Transferred Shares prior to the expiration of the Lock-Up
Period and shall in any event file a registration statement covering the resale of the Transferred Shares no later than 150 days following
the closing of the Business Combination. Following the expiration of any transfer restrictions of the Transferred Shares, if the Transferred
Shares are eligible to be sold without restriction under Rule 144 under the Securities Act of 1933, as amended (the “Act”),
the SPAC shall use reasonably commercial efforts to cause the SPAC’s transfer agent to remove the restrictive legends on the Transferred
Shares subject to compliance by Investor with the reasonable and customary procedures for such removal required by the SPAC or its transfer
agent.

 

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		(f)	In addition to any restrictions contained in paragraph 5(a), Investor agrees not to sell, transfer,
pledge, hypothecate or otherwise dispose of all or any part of the Transferred Shares unless, prior thereto (a) a registration statement
on the appropriate form under the Act and applicable state securities laws with respect to the Transfer Shares proposed to be transferred
shall then be effective, (b) the SPAC has received customary representations reasonably satisfactory to the SPAC that such registration
is not required because such transaction is exempt from registration under the Act and the rules promulgated by the Securities and
Exchange Commission thereunder and with all applicable state securities laws or (c) the Transferred Shares may be sold without restriction
under Rule 144. Investor acknowledges that because the SPAC is a shell company, Rule 144 under the Act may not be available
to Investor for the resale of the Transferred Shares until one year following the consummation of the initial Business Combination of
the SPAC, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer restrictions.
Investor acknowledges that the Transferred Shares will bear restrictive legends evidencing the foregoing restrictions. For clarity, the
parties acknowledge that the agreements set forth in this Section 5(f) and in Section 5(a) are made solely between
Investor and the SPAC.

 

Section 6          Miscellaneous.

 

		(a)	Any notice or communication under this Agreement shall be in writing and given by (i) recognized
courier or overnight delivery service providing evidence of delivery, or (ii) transmission by hand delivery or electronic mail, if
to the Sponsor, or the SPAC, c/o Chief Executive Officer, Project Energy Reimagined Acquisition Corp., 3 Lagoon Drive, Suite 170,
Redwood City, California 94065 (srinath@smilodonai.com); and, if to Investor, at Investor’s address or contact information as set
forth on the signature page attached hereto. Communications shall be deemed to have been received when delivered personally, on the
scheduled arrival date when sent by next day or 2nd-day courier service. If given by electronic transmission, such notice shall be deemed
to be delivered (a) if by electronic mail, when directed to an electronic mail address at which the party has provided to receive
notice; and (b) if by any other form of electronic transmission, when directed to such party.

 

		(b)	This Agreement shall be governed and construed and enforced in accordance with the laws of the State of
New York, without giving effect to its principles or rules of conflict of laws to the extent such principles or rules would
require or permit the application of the laws of another jurisdiction. THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION
WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. With respect to any suit, action or proceeding
relating to the transactions contemplated hereby, the undersigned irrevocably submit to the jurisdiction of the United States District
Court or, if such court does not have jurisdiction, the New York state courts located in the Borough of Manhattan, State of New York,
which submission shall be exclusive.

 

		(c)	This Agreement may not be amended, modified or waived without the written consent of the parties hereto;
provided that no consent of the Sponsor shall be required for the amendment, modification or waiver of any term or condition of Section 5(a) or
Section 5(f) hereof.

 

		(d)	The rights and obligations under this Agreement may not be assigned by any party hereto without the prior
written consent of the other parties, provided, that Investor may assign this Agreement or any of its rights, interests or obligations
hereunder to any of its affiliates at any time without the prior written approval of any party hereto provided such affiliate executes
a joinder to this Agreement and executes the Questionnaire attached as Annex A hereto.

 

		(e)	From time to time, at the reasonable request of any of the other parties hereto, each party hereto shall
execute and deliver such additional documents and instruments and take such further lawful action as may be reasonably necessary to consummate
and make effective, in the most expeditious manner practicable, the transactions contemplated by this Agreement.

 

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		(f)	Any term or provision of this Agreement which is invalid or unenforceable shall be ineffective to the
extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining rights of the person intended to
be benefited by such provision or any other provisions of this Agreement.

 

		(g)	This Agreement may be executed in two or more counterparts, each of which shall constitute an original,
and all of which taken together shall constitute one and the same instrument. Any signature page delivered by a facsimile machine
or electronic mail shall be binding to the same extent as an original signature page.

 

		(h)	This Agreement sets forth the entire agreement and understanding between the SPAC and Sponsor, on the
one hand, and Investor, on the other hand, as to the subject matter thereof and merges and supersedes all prior discussions, agreements
and understandings of any and every nature among them.

 

		(i)	This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective
heirs, legal representatives, successors and permitted assigns.

 

		(j)	No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder,
whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant
hereunder or affect in any way any rights arising because of any prior or subsequent occurrence.

 

		(k)	Except as may be required by law, regulation or applicable stock exchange listing requirements or judicial
or administrative order, unless and until the transactions contemplated hereby and the terms hereof have been publicly announced or otherwise
publicly disclosed by the Sponsor, the parties hereto shall keep confidential and shall not publicly disclose the existence or terms of
this Agreement. Notwithstanding the foregoing, Investor shall be permitted to disclose any information to its affiliates and to its
and their control persons, officers, directors, employees, advisors, direct or indirect owners, partners, agents and representatives,
in each case so long as such person or entity has been advised of its obligation to comply with the confidentiality provisions hereunder.
Investor agrees that SPAC will disclose the terms of this Agreement in the Registration Statement; however, without the prior written
consent of Investor, neither the SPAC nor Sponsor nor any affiliate thereof shall disclose the identity of Investor or its affiliates
or principals (in any regulatory filing or otherwise) unless required by applicable law or regulation or in connection with any inquiry
by a governmental authority (including any request from the Staff of the Securities and Exchange Commission) and, if so required or requested
to be disclosed, the SPAC will provide the Investor with a reasonable opportunity to review such proposed disclosure prior to making such
disclosure.

 

		(l)	Investor acknowledges that it is not relying upon, and has not relied upon, any statement, representation
or warranty made by any person, firm or corporation (including, without limitation, any anchor investor or any of its respective affiliates
or any control persons, officers, directors, employees, partners, agents or representatives of any of the foregoing), other than the statements,
representations and warranties of the Sponsor or SPAC expressly contained herein in making its investment or decision to invest in the
SPAC. All representations and warranties made by the parties hereto in this Agreement shall survive the execution and delivery hereof.

 

* * * * *

 

    7

     

    

 

IN WITNESS WHEREOF, the undersigned
have executed this Agreement as of the date first written above.

 

INVESTOR:

 

_________________________________

Print or Type Name of Entity

 

__________________________________________________________________

Address

 

	 	 	 	 
	Taxpayer I.D. No. (if applicable)	 	Date:	 
	 	 	 	 
	By:	 	 	 
	 	 	 	 
	 	 	 	 
	Signature:	 	 	 
	Name:	 	 	 
	Title:	 	 	 

 

[Signature Page to Founder Share Transfer Agreement]

 

     

     

    

 

	 	SPAC:
	 	PROJECT ENERGY REIMAGINED ACQUISITION CORP.
	 	By:	 
	 	Name:	Srinath Narayanan
	 	Title:	Chief Executive Officer

	 	SPONSOR:
	 	SMILODON CAPITAL, LLC
	 	By:	Admit Capital, LLC Its Manager
	 	By:	 
	 	Name:	Srinath Narayanan
	 	Title:	Manager

 

[Signature Page to Founder Share Transfer
Agreement]

 

     

     

    

 

ACCREDITED
INVESTOR STATUS QUESTIONNAIRE

 

		1.	Accredited Investor Status. Investor is an “accredited investor” because Investor is
(please initial the applicable spaces):

 

		 ̈	A.	Investor
is a natural person whose individual net worth1 or
joint net worth with that person’s spouse or spousal equivalent (i.e., a cohabitant occupying a relationship generally equivalent
to that of a spouse) as of the date hereof is in excess of $1,000,000 (excluding the value of the primary residence of Investor).

 

		 ̈	B.	Investor is a natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income
with that person’s spouse or spousal equivalent (i.e., a cohabitant occupying a relationship generally equivalent to that of a
spouse) in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level during the current
year.

 

		 ̈	C.	Investor is a natural person holding in good standing the General Securities Representative license (Series 7), the Private Securities
Offering Representative license (Series 82), or the Licensed Investment Adviser Representative (Series 65) administered by
FINRA, or one or more other professional certifications or designations or credentials designated by order of the Securities and Exchange
Commission as qualifying an individual for accredited investor status.

 

		 ̈	D.	Investor
is a Knowledgeable Employee.2

 

		 ̈	E.	Investor is a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Transferred Shares,
whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D under the Securities
Act.

 

		 ̈	F.	Investor is an employee benefit plan within the meaning of ERISA, and (please check one):

 

		 ̈	the investment decision has been made by a plan fiduciary, as defined in Section 3(21) of ERISA,
which is either a bank, savings and loan association, insurance company or registered investment adviser, or

 

		 ̈	the employee benefit plan has total assets in excess of $5,000,000, or

 

 

1 When calculating net worth for purposes of this representation:
(i) the value of Investor’s primary residence must not be included as an asset; (ii) indebtedness secured by Investor's primary
residence, up to the estimated fair market value of the primary residence as of the date of this Subscription Agreement may not be included
as a liability (except that if the amount of such indebtedness outstanding at the time of calculation exceeds the amount outstanding
60 days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included
as a liability); and (iii) indebtedness secured by Investor’s primary residence in excess of the estimated fair market value of
the residence must be included as a liability. Joint net worth can be the aggregate net worth of Investor and spouse or spousal equivalent
(i.e., a cohabitant occupying a relationship generally equivalent to that of a spouse); assets need not be held jointly to be included
in the calculation. Reliance on the joint net worth standard for purposes of this representation does not require that the securities
be purchased jointly.

 

2 “Knowledgeable Employee” means any natural
person who is an executive officer, director, trustee, general partner, advisory board member or person serving in a similar capacity
of the Company or an affiliated entity that manages the investment activities of the Company, as well as an employee of the Company or
such an affiliate who, in connection with such employee’s regular functions, participates in the investment activities of the Company
and/or other private investment funds the investment activities of which are managed by such affiliate; provided that such employee has
been performing such functions for or on behalf of the Company or such affiliate, or substantially similar functions for or on behalf
of another investment management firm, for at least twelve months.

 

     

     

    

  

		 ̈	if a self-directed plan, investment decisions are made solely by persons that are accredited investors.

 

		 ̈	G.	Investor is a private business development company as defined in Section 202(a)(22) of the Advisers Act.

 

		 ̈	H.	Investor is a corporation, Massachusetts or similar business trust, partnership or an organization described in Section 501(c)(3) of
the Code, not formed for the specific purpose of acquiring the Transferred Shares with total assets in excess of $5,000,000.

 

		 ̈	I.	Investor is a bank as defined in Section 3(a)(2) of the Securities Act, or a savings and loan association or other institution
as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity.

 

		 ̈	J.	Investor is a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended (the “1934
Act”).

 

		 ̈	K.	Investor is an investment adviser registered pursuant to Section 203 of the Advisers Act or registered pursuant to the laws of a
state.

 

		 ̈	L.	Investor is an investment adviser relying on the exemption from registering with the Securities and Exchange Commission under Section 203(l) or
(m) of the Advisers Act.

 

		 ̈	M.	Investor is an insurance company as defined in Section 2(a)(13) of the Securities Act.

 

		 ̈	N.	Investor is an investment company registered under the Investment Company Act or a business development company as defined in Section 2(a)(48)
of the Investment Company Act.

 

		 ̈	O.	Investor is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or
(d) of the Small Business Investment Act of 1958, as amended.

 

		 ̈	P.	Investor is a Rural Business Investment Company as defined in section 384A of the Consolidated Farm and Rural Development Act.

 

		 ̈	Q.	Investor is a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or
its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000.

 

		 ̈	R.	Investor is a “family office,” as defined in rule 202(a)(11)(G)-1 under the Advisers Act, (i) with assets under
management in excess of $5,000,000, (ii) that was not formed for the specific purpose of acquiring the Transferred Shares, and (iii) whose
prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family
office is capable of evaluating the merits and risks of a prospective investment in the Company.

 

		 ̈	S.	Investor is a “family client,” as defined in rule 202(a)(11)(G)-1 under the Advisers Act, of a “family office”
meeting the requirements in representation s. above, and whose prospective investment in the Company is directed by such “family
office” pursuant to clause (iii) of representation R. above.

 

		 ̈	T.	Investor is an entity in which each of the equity owners are accredited investors as defined in Rule 501(a) of Regulation
D.

 

    2 

     

    

 

		 ̈	U.	Investor is any entity, of a type not listed in representations E. through T. above not formed for the specific purpose of acquiring
the Transferred Shares, owning Investments in excess of $5,000,000.3

 

		 ̈	V.	None of the foregoing statements is true with respect to Investor. If so, Investor’s subscription shall be rejected.

 

 

3
For the purposes of this representation, it is permissible to look through various forms of equity ownership to natural persons in determining
the accredited investor status of entities. If those natural persons are themselves accredited investors, and if all other equity owners
of the entity seeking accredited investor status are accredited investors, then this representation may be available.

 

    3Exhibit
4.5

 

WARRANT
AGREEMENT

 

This
WARRANT AGREEMENT (this “Agreement”) is made as of [_____], 2021 between Kairous Acquisition Corp. Limited, a Cayman
Islands exempted company with limited liability, with its principal executive office at Unit 9-3, Oval Tower @ Damansara, No. 685, Jalan
Damansara, 60000 Taman Tun Dr. Ismail, Kuala Lumpur, Malaysia (the “Company”), and Continental Stock Transfer &
Trust Company, a New York limited purpose trust company, as warrant agent (the “Warrant Agent”).

 

WHEREAS,
the Company is engaged in a public offering (the “Public Offering”) of up to 5,750,000 units (including 750,000 units
which may be issued pursuant to an over-allotment option granted to the underwriters of the Public Offering), each unit (the “Public
Units”) comprised of one ordinary share of the Company, par value $0.0001 each (“Ordinary Share”), one-half
of one redeemable warrant and one right to acquire one-tenth of one Ordinary Share. Each whole redeemable warrant entitles the holder
to purchase one Ordinary Share at a price of $11.50 per share, subject to adjustment as described herein, and, in connection therewith,
the Company will issue and deliver up to 2,875,000 warrants (the “Public Warrants”) to the public investors in connection
with the Public Offering; and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
No. 333-[_____] (as amended, the “Registration Statement”) and prospectus (the “Prospectus”), for
the registration, under the Securities Act of 1933, as amended (the “Act”) of, among other securities, the Public
Warrants; and

 

WHEREAS,
the Company will issue and deliver 125,000 warrants (or 143,750 warrants if the over-allotment option is exercised in full) underlying
a unit purchase option to Maxim Group LLC (the “Representative”) or its designees, which warrants will be identical
to the Public Warrants, subject to compliance with FINRA Rule 5110 (“Representative Warrants”); and

 

WHEREAS,
the Company has received binding commitments (the “Subscription Agreements”) from the Company’s sponsor, Kairous
Asia Limited (the “Sponsor”), to purchase, simultaneously with the closing of the Public Offering, up to an aggregate
of 270,000 units (292,500 units if the over-allotment option is exercised in full) (the “Private Units”), each containing
one Ordinary Share, one-half of one redeemable warrant (the “Private Warrants”, including the warrants underlying
the units that may be issued upon conversion of working capital loans and together with the Public Warrants and the Representative Warrants,
the “Warrants”), and one right to acquire one-tenth of one Ordinary Share. Each whole Private Warrant is exercisable
to purchase one Ordinary Share at a price of $11.50 per share, bearing the legend set forth in Exhibit B hereto; and

 

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

 

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

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant 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 Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants,
and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set
forth in this Agreement.

 

    	 

     

    

 

2.
Warrants.

 

2.1.
Form of Warrant. Each Warrant 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 of Directors or Chief Executive Officer or Chief Financial Officer and Treasurer, Secretary or Assistant 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 Warrant
shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant 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.
Uncertificated Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part
of, and be represented by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or
the facilities of The Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case
as determined by the Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same
terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms
of this Agreement.

 

2.3.
Effect of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned
by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4.
Registration.

 

2.4.1.
Warrant Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original
issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company.

 

2.4.2.
Registered Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing
on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and
for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5.
Detachability of Warrants. The securities comprising the Units will not be separately transferable until the 52nd Business Day
(as defined below) or earlier with the consent of Maxim Group LLC (the “Representative”), but in no event will the
Representative allow separate trading of the securities comprising the Units until (i) the Company has filed a Current Report on Form
8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including
the proceeds received by the Company from the exercise of the underwriters’ over-allotment option in the Public Offering, if the
over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the Company has issued a press release and has filed
a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment Date”). A “Business
Day” means a day, other than a Saturday, Sunday or federal holiday, on which banks in New York City are generally open for normal
business.

 

2.6.
Private Warrant and Representative Warrants Attributes. The Private Warrants and the Representative Warrants will be identical
to the Public Warrants subject to the adjustments provided in Section 5.6.

 

3.
Terms and Exercise of Warrants

 

3.1.
Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle
the registered holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number
of Ordinary Shares stated therein, at the price of $11.50 per full share, subject to the adjustments provided in Section 4 hereof and
in the last sentence of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price per share
at which the Ordinary Shares may be purchased at the time a Warrant is exercised. No fractional warrants will be issued upon separation
of the units and only whole warrants will trade. Any fractional warrants will be canceled for no consideration. As a result, such Registered
Holder must hold and separate units in multiples of two to not have any fractional warrants canceled. The Company in its sole discretion
may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business
Days; provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered
holders of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

    	2

     

    

 

3.2.
Duration of Warrants. A Warrant may be exercised only during the period commencing 30 days after the consummation by the Company
of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination
with one or more businesses or entities (“Business Combination”) (as described more fully in the Registration Statement),
and terminating at 5:00 p.m., New York City time on the earlier to occur of (i) the date that is five (5) years after the date on which
the Company consummates a Business Combination, (ii) at 5:00 p.m., New York City time on the Redemption Date as provided in Section 6.2
of this Agreement and (iii) the liquidation of the Trust Account (defined below) (“Expiration Date”). The period of
time from the date the Warrants will first become exercisable until the expiration of the Warrants shall hereafter be referred to as
the “Exercise Period.” Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder),
as applicable, each outstanding Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and
all rights in respect thereof under this Agreement shall cease at the close of business on the Expiration Date. The Company in its sole
discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide
at least twenty (20) days’ prior written notice of any such extension to registered holders and, provided further that any such
extension shall be applied consistently to all of the Warrants.

 

3.3.
Exercise of Warrants.

 

3.3.1.
Payment. Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may
be exercised by the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor
as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly
executed, and by paying in full the Warrant Price for each Ordinary Share as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer;

 

(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of Ordinary Shares
equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the
excess of the “Fair Market Value” (defined below) over the Warrant Price by (y) the Fair Market Value. Solely for purposes
of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported closing price of the Ordinary Shares for
the ten (10) trading days ending on the third trading day prior to the date of exercise on which the notice of redemption is sent to
holders of the Warrants pursuant to Section 6 hereof; or

 

(c)
in the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days after the
closing of a Business Combination, by surrendering such Warrants for that number of Ordinary Shares equal to the quotient obtained by
dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the excess of the “Fair Market
Value” over the Warrant Price by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted unless
the Fair Market Value is equal to or higher than the Warrant Price. Solely for purposes of this Section 3.3.1(c), the “Fair Market
Value” shall mean the average reported last sale price of the Ordinary Shares for the ten (10) trading days ending on the third
trading day prior to the date of exercise.

 

3.3.2.
Issuance of Ordinary Shares. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment
of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book
entry position, for the number of 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 if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for
the number of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company
be required to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated
to issue Ordinary Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise have been registered,
qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the
event that the condition in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant
shall not be entitled to exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser
of a Unit containing such Warrants shall have paid the full purchase price for the Unit solely for the Ordinary Shares underlying such
Unit. Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise or issuance
would be unlawful.

 

    	3

     

    

 

3.3.3.
Valid Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and non-assessable.

 

3.3.4.
Date of Issuance. Each person in whose name any book entry position or certificate for Ordinary Shares is issued shall for all
purposes be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing
such Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except
that, if the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant
Agent are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding
date on which the share transfer books or book entry system are open.

 

3.3.5
Maximum Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions
contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes
such election. If the election is made by a holder, the Warrant Agent shall not cause the exercise of the holder’s Warrant, and
such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together
with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary
Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude
Ordinary Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such
person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company
beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares
or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the
preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the
number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary Shares as reflected in (1) the Company’s
most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or other public filing with the SEC
as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Warrant Agent
setting forth the number of Ordinary Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant,
the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding.
In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise of equity
securities of the Company by the holder and its affiliates since the date as of which such number of outstanding Ordinary Shares was
reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage
applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective
until the sixty-first (61st) day after such notice is delivered to the Company.

 

    	4

     

    

 

4.
Adjustments.

 

4.1.
Share Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.6 below, the number of outstanding
Ordinary Shares is increased by a share dividend payable in Ordinary Shares, or by a split up of Ordinary Shares, or other similar event,
then, on the effective date of such share dividend, split up or similar event, the number of Ordinary Shares issuable on exercise of
each Warrant shall be increased in proportion to such increase in outstanding Ordinary Shares.

 

4.2.
Aggregation of Shares. If after the date hereof, the number of outstanding Ordinary Shares is decreased by a consolidation, combination,
reverse share split or reclassification of Ordinary Shares or other similar event, then, on the effective date of such consolidation,
combination, reverse share split, reclassification or similar event, the number of Ordinary Shares issuable on exercise of each Warrant
shall be decreased in proportion to such decrease in outstanding Ordinary Shares.

 

4.3
Extraordinary Dividends. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding and
unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Ordinary Shares on account
of such Ordinary Shares (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a)
as described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders
of the Ordinary Shares in connection with a proposed initial Business Combination, (d) as a result of the repurchase of Ordinary Shares
by the Company in connection with an initial Business Combination or as otherwise permitted by the Investment Management Trust Agreement
between the Company and the Warrant Agent dated of even date herewith, (e) or as a result of the issuance of Ordinary Shares as a result
of conversion of the Rights issued in the Public Offering, or (f) in connection with the Company’s liquidation and the distribution
of its assets upon its failure to consummate a Business Combination (any such non-excluded event being referred to herein as an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend,
by the amount of cash and the fair market value (as determined by the Company’s board of directors, in good faith) of any securities
or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts
of all other cash dividends and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration
of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section
4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Ordinary
Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

 

4.4
Adjustments in Exercise Price.

 

4.4.1
Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in Sections 4.1 and 4.2
above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price, immediately prior to such adjustment,
by a fraction, (a) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately
prior to such adjustment, and (b) the denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter,
provided that no adjustment shall be made to the Warrant Price if this would result in the Warrant Price falling below the par value
of the Ordinary Shares. In such cases, the Warrant Price would be equal to the par value of the Ordinary Shares.

 

4.4.2
If (i) the Company issues additional Ordinary Shares or securities convertible into or exercisable or exchangeable for Ordinary Shares
for capital raising purposes in connection with the closing of the initial business combination at an issue price or effective issue
price of less than $9.35 per share of Ordinary Share, with such issue price or effective issue price to be determined in good faith by
the Board, (ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon,
available for funding the initial business combination, and (iii) the volume weighted average trading price of the Ordinary Shares during
the 20 trading day period starting on the trading day prior to the day on which the Company consummates the initial business combination
(the “Market Value”) is below $9.35 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal
to 115% of the Market Value, and the $16.50 per share redemption triggers the Company’s right to redeem the Warrants pursuant to
Section 6.1 below shall be adjusted (to the nearest cent) to be equal to 165% of the Market Price.

 

    	5

     

    

 

4.5.
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary
Shares (other than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Ordinary Shares), or
in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in which
the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary
Shares), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as
an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have
the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary
Shares of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind
and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization,
merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such
Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event. If any reclassification also results in a change
in the Ordinary Shares covered by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4
and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers
or consolidations, sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable
upon exercise of the Warrant. Notwithstanding anything to the contrary herein, in the event of any tender offer for Ordinary Shares,
the offeror shall not make any tender offer for Warrants if the effect of such offer would be to require the Warrants to be accounted
for as liabilities under applicable accounting principles.

 

4.6.
Issuance in connection with a Business Combination. If, in connection with a Business Combination, the Company (a) issues additional
Ordinary Shares or equity-linked securities at an issue price or effective issue price of less than $9.35 per share (with such issue
price or effective issue price as determined by the Company’s Board of Directors, in good faith, and in the case of any such issuance
to the Company’s initial shareholders, or their affiliates, without taking into account any founders’ shares held by them
prior to such issuance), (b) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and
interest thereon, available for the funding of the Business Combination on the date of the consummation of such Business Combination
(net of redemptions), and (c) the Fair Market Value (as defined below) is below $9.35 per share, the exercise price of the warrants will
be adjusted (to the nearest cent) to be equal to 115% of the greater of (i) the Fair Market Value or (ii) the price at which the Company
issues the Ordinary Shares or equity-linked securities, and the $16.50 per share redemption trigger price will be adjusted (to the nearest
cent) to be equal to 165% of the higher of the Fair Market Value and the price at which the Company issues Ordinary Shares or equity-linked
securities. Solely for purposes of this Section 4.6, the “Fair Market Value” shall mean the volume weighted average
reported trading price of the Ordinary Shares for the twenty (20) trading days starting on the trading day prior to the date of the consummation
of the Business Combination.

 

4.7
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a
Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant,
setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence
of any event specified in Sections 4.1, 4.2, 4.3, 4.4, 4.5, or 4.6, then, in any such event, the Company shall give written notice to
each Warrant holder, at the last address set forth for such holder in the Warrant Register, of the record date or the effective date
of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.8.
No Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall
not issue fractional shares upon exercise of Warrants or fractional warrants upon separation of the units and only whole warrants will
trade. If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise
of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round up to the nearest whole number
of Ordinary Shares to be issued to the Warrant holder.

 

4.9.
Form of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

    	6

     

    

 

4.10
Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections
of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an
adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall
appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall
give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent
and purpose of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. provided, however,
that under no circumstances shall the Warrants be adjusted pursuant to this Section 4.10 as a result of any issuance of securities in
connection with a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment
recommended in such opinion.

 

5.
Transfer and Exchange of Warrants.

 

5.1.
Registration of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the
Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants,
properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal
aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated
Warrants, the Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2.
Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book
entry position, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor
one or more new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing
an equal aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive
legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received
an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a
restrictive legend.

 

5.3.
Fractional Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result
in the issuance of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4.
Service Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5.
Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with
the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever
required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6.
Private Warrants. The Warrant Agent shall not register any transfer of Private Warrants until 30 days after the consummation by
the Company of an initial Business Combination, except for transfers (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
Ordinary Shares for cash, securities or other property, in each case (except for clauses (vi), (viii) or (ix) or with the Company’s
prior written consent) on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written
documentation pursuant to which each transferee (each, a “Permitted Transferee”) or the trustee or legal guardian
for such transferee agrees to be bound by the transfer restrictions contained in this section and any other applicable agreement the
transferor is bound by.

 

    	7

     

    

 

5.7.
Transfers prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together
with the Unit in which such Warrants are included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange
of such Units. Furthermore, each transfer of a Unit on the register relating to such Unit shall operate also to transfer the Warrants
included in such Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants
on or after the Detachment Date.

 

6.
Redemption.

 

6.1.
Redemption. Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the
Exercise Period, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the closing price of the Ordinary Shares equals or exceeds $16.50 per share (subject to adjustment in
accordance with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period commencing after the
Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given and provided
that there is an effective registration statement covering the Ordinary Shares issuable upon exercise of the Warrants, and a current
prospectus relating thereto, available throughout the 30-day redemption or the Company has elected to require the exercise of the Warrants
on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however, that if and when the Warrants become redeemable
by the Company, the Company may not exercise such redemption right if the issuance of Ordinary Shares upon exercise of the Warrants is
not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect such registration
or qualification.

 

6.2.
Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the Company shall
fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered holders of the Warrants to be redeemed
at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively
presumed to have been duly given whether or not the registered holder received such notice.

 

6.3.
Exercise After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance
with Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2
hereof and prior to the Redemption Date. In the event the Company determines to require all holders of Warrants to exercise their Warrants
on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate
the number of Ordinary Shares to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term
is defined in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder of the Warrants shall have
no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

7.
Other Provisions Relating to Rights of Holders of Warrants.

 

7.1.
No Rights as Shareholder. A Warrant 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.

 

7.2.
Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant
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
Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated,
or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly
lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

    	8

     

    

 

7.3.
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 exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4.
Registration of Ordinary Shares. The Company agrees that as soon as practicable after the closing of its initial Business Combination,
it shall use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration, under
the Act, of the Ordinary Shares issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is necessary
to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states where
holders of Warrants then reside, the Ordinary Shares issuable upon exercise of the Warrants, to the extent an exemption is not available.
The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement.
If any such registration statement has not been declared effective by the 90th day following the closing of the Business Combination,
holders of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination
and ending upon such registration statement being declared effective by the Securities and Exchange Commission, and during any other
period when the Company shall fail to have maintained an effective registration statement covering the Ordinary Shares issuable upon
exercise of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(c).
The Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities
law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required
to be registered under the Act and (ii) the Ordinary Shares issued upon such exercise will be freely tradable under U.S. federal securities
laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not
be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have been exercised or
have expired, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences
of this Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the prior written consent of
the Representative.

 

8.
Concerning the Warrant Agent and Other Matters.

 

8.1.
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 Warrant Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of Warrants, but the Company shall not
be obligated to pay any transfer taxes in respect of the Warrants or such Ordinary Shares.

 

8.2.
Resignation, Consolidation, or Merger of Warrant Agent.

 

8.2.1.
Appointment of Successor Warrant Agent. The Warrant 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 Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty
(30) days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant
(who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme
Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost.
Any successor Warrant 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 Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations
of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed;
but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of
the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant
Agent hereunder; and upon request of any successor Warrant 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 Warrant Agent all such authority, powers,
rights, immunities, duties, and obligations.

 

    	9

     

    

 

8.2.2.
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the Ordinary Shares not later than the effective date of any such appointment.

 

8.2.3.
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3.
Fees and Expenses of Warrant Agent.

 

8.3.1.
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of
its duties hereunder.

 

8.3.2.
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 Warrant Agent for the
carrying out or performing of the provisions of this Agreement.

 

8.4.
Liability of Warrant Agent.

 

8.4.1.
Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant 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 Chairman of the Board of Directors of the Company and delivered
to the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to
the provisions of this Agreement.

 

8.4.2.
Indemnity. The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith.
The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the
Warrant Agent’s fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3.
Exclusions. The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the
validity or execution of any Warrant (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 Warrant; nor shall it be responsible to make any adjustments required
under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining
of the existence of facts that would require any such adjustment; 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, the Amended and Restated
Memorandum and Articles of Association of the Company, or any Warrant or as to whether any Ordinary Shares will, when issued, be valid
and fully paid and non-assessable.

 

8.5.
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same
upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants
exercised and concurrently account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary
Shares through the exercise of Warrants.

 

    	10

     

    

 

9.
Miscellaneous Provisions.

 

9.1.
Successors. All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall
bind and inure to the benefit of their respective successors and assigns.

 

9.2.
Notices. Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder
of any Warrant to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight
delivery, when so delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such
notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Kairous
Acquisition Corp. Limited

Unit
9-3, Oval Tower @ Damansara,

No.
685, Jalan Damansara,

60000
Taman Tun Dr. Ismail,

Kuala
Lumpur, Malaysia

Attn:
Joseph Lee, Chief Executive Officer

E-mail:
joseph@kairous.com

 

Any
notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on
the Warrant Agent shall be sufficiently given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) 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 Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

 1 State
Street - 30th Floor 

 New York, NY
10004-1561 

Attn:
Compliance Department 

 E-mail: compliance@continentalstock.com 

 

with
a copy in each case to:

 

Loeb&
Loeb LLP

2206-19
Jardine House

1
Connaught Place

Central,
Hong Kong SAR

Attn:
Lawrence Venick, Esq.

E-mail:
lvenick@loeb.com

 

and

 

Hunter
Taubman Fischer & Li LLC

800
Third Avenue

Suite
2800

New
York, New York 10022

Attn:
Guillaume de Sampigny, Esq.

E-mail:
gdesampigny@htflawyers.com

 

and

 

Maxim
Group LLC

405
Lexington Ave

New
York, NY 10174

Attn:
Alex Jin

E-mail:
ajin@maximgrp.com

 

and

 

Ogier

11th
Floor Central Tower

28
Queen’s Road Central

Central,
Hong Kong SAR

Attn:
Nathan Powell

 

    	11

     

    

 

9.3.
Applicable Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall
be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction. Each of the Company and the Warrant Agent hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts
of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction.
Each of the Company and the Warrant Agent hereby waives any objection to such exclusive jurisdiction and that such courts represent an
inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability
or duty created by the Exchange Act or any other claim for which the federal courts of the United States of America have exclusive jurisdiction
or any complaint asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees
or agents. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability
created by the Exchange Act or the rules and regulations thereunder. Any such process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at
the address set forth in Section 9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company
in any action, proceeding or claim.

 

9.4.
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 Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right,
remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof.
The Representative shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof.
All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive
benefit of the parties hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and
assigns and of the registered holders of the Warrants.

 

9.5.
Examination of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant
Agent may require any such holder to submit his Warrant for inspection by it.

 

9.6.
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.

 

9.7.
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.

 

9.8
Amendments. This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of
curing any ambiguity, including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set
forth in the Prospectus, or 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, including
any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered
holders of a majority of the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend
the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders. The
provisions of this Section 9.8 may not be modified, amended or deleted without the prior written consent of the Representative.

 

9.9
Trust Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust
account established by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust
Account”), including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance.
In the event that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely
against the Company and not against the property held in the Trust Account.

 

9.10
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]

 

    	12

     

    

 

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

 

	 	KAIROUS
    ACQUISITION CORP. LIMITED
	 	 	 
	 	By:	
	 	Name:	Joseph
    Lee
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	Name:	
	 	Title:	

 

[Signature
Page to Warrant Agreement]

 

    	13

     

    

 

EXHIBIT
A

 

FORM
OF WARRANT

 

    	 

     

    

 

EXHIBIT
B

 

LEGEND
FOR PRIVATE WARRANTS

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS
ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT BY AND AMONG KAIROUS ACQUISITION CORP. LIMITED (THE “COMPANY”),
MAXIM GROUP LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO
THE DATE THAT IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION
3 OF THE WARRANT AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 5.6 OF THE WARRANT AGREEMENT)
WHO AGREES IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES
EVIDENCED BY THIS CERTIFICATE AND ORDINARY SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION
RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT TO BE EXECUTED BY THE COMPANY.

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