Document:

Exhibit 10.5

 

 

REGISTRATION RIGHTS
AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”) is entered into as of               , by and among Keyarch Acquisition Corporation, a Cayman Islands
exempted company (the “Company”), and the undersigned parties listed under Investors on the signature page hereto
(each, an “Investor” and collectively, the “Investors”).

 

WHEREAS, the Company’s
Registration Statement for an initial public offering of units comprised of the Company’s equity securities through EarlyBirdCapital,
Inc. (the “Representative”), as representative of the several underwriters, each such Unit comprised of: (i) one
Class A ordinary share of the Company, par value $0.0001 per share (an “Ordinary Share”); (ii) one-half
of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share; and (iii) one right to
receive one-tenth (1/10) of one Ordinary Share upon consummation of an initial Business Combination (the “Rights”),
has been declared effective by the SEC.

 

WHEREAS, on             , the Company
entered into certain Private Placement Unit Purchase Agreement with Keyarch Global Sponsor Limited (the “Sponsor”)
and the Representative, pursuant to which the Sponsor and the Representative agreed to purchase an aggregate of 500,000 Private Units,
including 450,000 Private Units to be purchased by the Sponsor and 50,000 Private Units to be purchased by the Representative, (not including
45,000 Private Units, which is comprised of 40,500 units to be purchased by the Sponsor and 4,500 units to be purchased by the Representative
if the over-allotment option is exercised in full) simultaneously with the closing of the IPO at a purchase price of $10.00 per Unit;

 

WHEREAS, the Investors and
the Company desire to enter into this Agreement to provide the Investors with certain rights relating to the registration under the United
States’ federal securities laws and regulations of the certain securities of the Company held by them.

 

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

 

1.                 
DEFINITIONS. The following capitalized terms used herein have the following meanings:

 

“Agreement”
means this Agreement, as amended, restated, supplemented, or otherwise modified from time to time.

 

“Business Combination”
means the acquisition of direct or indirect ownership through a merger, stock exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar type of transaction, of one or more businesses or entities.

 

“Commission”
means the Securities and Exchange Commission, or any other Federal agency then administering the Securities Act or the Exchange Act.

 

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“Company”
is defined in the preamble to this Agreement.

 

“Demand Registration”
is defined in Section 2.1.1.

 

“Demanding Holder”
is defined in Section 2.1.1.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, all as
the same shall be in effect at the time.

 

“Form S-3”
is defined in Section 2.3.

 

“Founder Shares”
means the 2,875,000 Class B ordinary shares of the Company issued to the Sponsor prior to the Company’s initial public offering,
of which 375,000 ordinary shares that are subject to forfeiture by our Sponsor in the event that the overallotment option is not exercised
by the underwriters in the IPO.

 

“Indemnified Party”
is defined in Section 4.3.

 

“Indemnifying
Party” is defined in Section 4.3.

 

“Investor”
is defined in the preamble to this Agreement.

 

“Investor Indemnified
Party” is defined in Section 4.1.

 

“IPO”
means the initial public offering of the Company for Units under the Securities Act conducted on an underwritten firm commitment basis
on the IPO Registration Statement.

 

“IPO Registration
Statement” means the registration statement as filed (File Number:333-261500) with the Commission and declared effective
on, 2022.

 

“Maximum Number
of Shares” is defined in Section 2.1.4.

 

“Notices”
is defined in Section 6.3.

 

“Ordinary Shares”
is defined in the preamble to this Agreement.

 

“Piggy-Back Registration”
is defined in Section 2.2.1.

 

“Private Units”
means the 500,000 Units (or up to 545,000 Units if the over-allotment option as described in the IPO Registration Statement is exercised
in full) sold and issued (or that may be sold or issued) to the Sponsor and the Representative (or their designees or affiliates) simultaneously
with the consummation of the Company’s initial public offering, as further described in the IPO Registration Statement.

 

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“Pro Rata”
is defined in Section 2.1.4.

 

“Register,”
 “Registered” and “Registration” mean a registration effected by preparing and filing
a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations
promulgated thereunder, and such registration statement becoming effective.

 

“Registrable Securities”
means: (i) the Founder Shares (and any underlying Ordinary Shares); (ii) the Representative Shares; (iii) the Private Units
(and their component parts and securities underlying those component parts); and (iv) any units that may be issued on conversion
of working capital loans (and their component parts and securities underlying those component parts) (the “Working Capital
Loan Securities”). Registrable Securities include any warrants, shares of capital stock or other securities of the Company
issued as a dividend or other distribution with respect to or in exchange for or in replacement of such Founder Shares, Representative
Shares, Private Units and Working Capital Loan Securities (and their component parts and any securities underlying those component parts).
As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: (a) a Registration Statement
with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold,
transferred, disposed of or exchanged in accordance with such Registration Statement; (b) such securities shall have been otherwise
transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered by the Company, and
subsequent public distribution of them shall not require registration under the Securities Act; (c) such securities shall have ceased
to be outstanding, or (d) the Registrable Securities are freely saleable under Rule 144 under the Securities Act without volume
limitations.

 

“Registration
Statement” means a registration statement filed by the Company with the Commission in compliance with the Securities Act
and the rules and regulations promulgated thereunder for a public offering and sale of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities (other than a registration statement on Form S-4 or Form S-8,
or their successors, or any registration statement covering only securities proposed to be issued in exchange for securities or assets
of another entity).

 

"Representative
Shares" means the 200,000 Class A ordinary shares that the Company has issued to the Representative and/or its designees.

 

“Rights”
is defined in the preamble to this Agreement.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder, all as the same
shall be in effect at the time.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an underwritten offering and not as part of such dealer’s
market-making activities.

 

“Units”
means the units of the Company as described in the IPO Registration Statement, each comprised of (i) one Ordinary Share, (ii) one-half
of one Warrant and (iii) one Right.

 

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“Warrants”
means the warrants of the Company being offered and sold under the IPO Registration Statement entitling the holder to purchase one Ordinary
Share.

 

2.              REGISTRATION RIGHTS.

 

2.1           
Demand Registration.

 

2.1.1       
Request for Registration. At any time and from time to time on or after (i) in the case of the Founder Shares, the date
that is three months prior to the date on which the Founder Shares are to be released from their contractual transfer restrictions or
(ii) in the case of the Representative Shares, Private Units (and their component parts and securities underlying those component parts)
and Working Capital Loan Securities, the date the Company consummates a Business Combination, the holders of a majority-in-interest of
such Founder Shares, Representative Shares, Private Units (and their component parts and securities underlying those component parts)
and Working Capital Loan Securities as the case may be, may make a written demand for registration under the Securities Act of all or
part of their Founder Shares, Representative Shares, Private Units (and their component parts and securities underlying those component
parts) and Working Capital Loan Securities, as the case may be (a “Demand Registration”). Any demand for a Demand
Registration shall specify the number of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution
thereof. The Company will notify all holders of Registrable Securities of the demand, and each holder of Registrable Securities who wishes
to include all or a portion of such holder’s Registrable Securities in the Demand Registration (each such holder including shares
of Registrable Securities in such registration, a “Demanding Holder”) shall so notify the Company within fifteen
(15) days after the receipt by the holder of the notice from the Company. Upon any such request, the Demanding Holders shall be entitled
to have their Registrable Securities included in the Demand Registration, subject to Section 2.1.4 and the provisos set forth in
Section 3.1.1. The Company shall not be obligated to effect more than an aggregate of three (3) Demand Registrations under this
Section 2.1.1 in respect of all Registrable Securities. Notwithstanding the foregoing, in compliance with FINRA Rule 5110(g)(8),
the registration rights granted to the Representative herein are limited to demand and “piggy back” rights for periods of
five and seven years, respectively, from the effective date of the IPO Registration Statement with respect to the registration under the
Securities Act of the Representative Shares and Private Units (and underlying securities) and demand rights may only be exercised on one
occasion.

 

2.1.2       
Effective Registration. A registration will not count as a Demand Registration until the Registration Statement filed with
the Commission with respect to such Demand Registration has been declared effective and the Company has complied with all of its obligations
under this Agreement with respect thereto; provided, however, that if, after such Registration Statement has been declared effective,
the offering of Registrable Securities pursuant to a Demand Registration is interfered with by any stop order or injunction of the Commission
or any other governmental agency or court, the Registration Statement with respect to such Demand Registration will be deemed not to have
been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a
majority-in-interest of the Demanding Holders thereafter elect to continue the offering; provided, further, that the Company shall not
be obligated to file a second Registration Statement until a Registration Statement that has been filed is counted as a Demand Registration
or is terminated.

 

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2.1.3       
Underwritten Offering. If a majority-in-interest of the Demanding Holders so elect and such holders so advise the Company
as part of their written demand for a Demand Registration, the offering of such Registrable Securities pursuant to such Demand Registration
shall be in the form of an underwritten offering. In such event, the right of any holder to include its Registrable Securities in such
registration shall be conditioned upon such holder’s participation in such underwriting and the inclusion of such holder’s
Registrable Securities in the underwriting to the extent provided herein. All Demanding Holders proposing to distribute their Registrable
Securities through such underwriting shall enter into an underwriting agreement in customary form with the Underwriter or Underwriters
selected for such underwriting by a majority-in-interest of the holders initiating the Demand Registration.

 

2.1.4       
Reduction of Offering. If the managing Underwriter or Underwriters for a Demand Registration that is to be an underwritten
offering advises the Company and the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities
which the Demanding Holders desire to sell, taken together with all other Ordinary Shares or other securities which the Company desires
to sell and the Ordinary Shares, if any, as to which registration has been requested pursuant to written contractual piggy-back registration
rights held by other stockholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that
can be sold in such offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability
of success of such offering (such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of
Shares”), then the Company shall include in such registration: (i) first, the Registrable Securities as to which Demand
Registration has been requested by the Demanding Holders (pro rata in accordance with the number of shares that each such Person has requested
be included in such registration, regardless of the number of shares held by each such Person (such proportion is referred to herein as
 “Pro Rata”)) that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent
that the Maximum Number of Shares has not been reached under the foregoing clause (i), the Ordinary Shares or other securities that
the Company desires to sell that can be sold without exceeding the Maximum Number of Shares; (iii) third, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clauses (i) and (ii), the Ordinary Shares or other securities for
the account of other persons that the Company is obligated to register pursuant to written contractual arrangements with such persons
and that can be sold without exceeding the Maximum Number of Shares.

 

2.1.5       
Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled
to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw
from such offering by giving written notice to the Company and the Underwriter or Underwriters of their request to withdraw prior to the
effectiveness of the Registration Statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest
of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then such registration shall not count
as a Demand Registration provided for in Section 2.1.

 

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2.2             
Piggy-Back Registration.

 

2.2.1       
Piggy-Back Rights. If at any time on or after the date the Company consummates a Business Combination the Company proposes
to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into, equity securities, by the Company for its own account or for shareholders of the
Company for their account (or by the Company and by shareholders of the Company including, without limitation, pursuant to Section 2.1),
other than a Registration Statement (i) filed in connection with any employee stock option or other benefit plan, (ii) for an
exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that
is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then the Company shall (x) give
written notice of such proposed filing to the holders of Registrable Securities as soon as practicable but in no event less than ten (10) days
before the anticipated filing date, which notice shall describe the amount and type of securities to be included in such offering, the
intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, of the offering, and (y) offer
to the holders of Registrable Securities in such notice the opportunity to register the sale of such number of shares of Registrable Securities
as such holders may request in writing within five (5) days following receipt of such notice (a “Piggy-Back Registration”).
The Company shall cause such Registrable Securities to be included in such registration and shall use its best efforts to cause the managing
Underwriter or Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back
Registration on the same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of
such Registrable Securities in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing
to distribute their securities through a Piggy-Back Registration that involves an Underwriter or Underwriters shall enter into an underwriting
agreement in customary form with the Underwriter or Underwriters selected for such Piggy-Back Registration.

 

2.2.2       
Reduction of Offering. If the managing Underwriter or Underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Ordinary Shares
which the Company desires to sell, taken together with Ordinary Shares, if any, as to which registration has been demanded pursuant to
separate written contractual arrangements with persons or entities other than the holders of Registrable Securities hereunder, the Registrable
Securities as to which registration has been requested under this Section 2.2, and the Ordinary Shares, if any, as to which registration
has been requested pursuant to the written contractual piggy-back registration rights of other stockholders of the Company, exceeds the
Maximum Number of Shares, then the Company shall include in any such registration:

 

a)                 
If the registration is undertaken for the Company’s account: (A) the Ordinary Shares or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; (B) to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the Ordinary Shares or other securities, if any, comprised of Registrable Securities,
as to which registration has been requested pursuant to the applicable written contractual piggy-back registration rights of such security
holders, Pro Rata, which can be sold without exceeding the Maximum Number of Shares; and (C) to the extent that the Maximum Number
of Shares has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares or other securities for the account of
other persons that the Company is obligated to register pursuant to written contractual piggy-back registration rights with such persons
and that can be sold without exceeding the Maximum Number of Shares; and

 

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b)                 
If the registration is a “demand” registration undertaken at the demand of persons other than either the holders of
Registrable Securities, (A) first, the Ordinary Shares or other securities for the account of the demanding persons that can be sold
without exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), the Ordinary Shares or other securities that the Company desires to sell which can be sold without exceeding
the Maximum Number of Shares; (C) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (A) and (B), collectively, the Ordinary Shares or other securities comprised of Registrable Securities, Pro Rata, as to which
registration has been requested pursuant to the terms hereof, which can be sold without exceeding the Maximum Number of Shares; and (D) fourth,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares
or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons, that can be sold without exceeding the Maximum Number of Shares.

 

2.2.3       
Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the Registration Statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand
pursuant to written contractual obligations) may withdraw a Registration Statement at any time prior to the effectiveness of such Registration
Statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities in
connection with such Piggy-Back Registration as provided in Section 3.3.

 

2.3             
Registrations on Form S-3. The holders of Registrable Securities may at any time and from time to time request in writing
that the Company register the resale of any or all of such Registrable Securities on Form S-3 or any similar short-form registration
which may be available at such time (“Form S-3”); provided, however, that the Company shall not be obligated
to effect such request through an underwritten offering. Upon receipt of such written request, the Company will promptly give written
notice of the proposed registration to all other holders of Registrable Securities, and, as soon as practicable thereafter, effect the
registration of all or such portion of such holder’s or holders’ Registrable Securities as are specified in such request,
together with all or such portion of the Registrable Securities or other securities of the Company, if any, of any other holder or holders
joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written notice
from the Company; provided, however, that the Company shall not be obligated to effect any such registration pursuant to this Section 2.3:
(i) if Form S-3 is not available for such offering; or (ii) if the holders of the Registrable Securities, together with
the holders of any other securities of the Company entitled to inclusion in such registration, propose to sell Registrable Securities
and such other securities (if any) at any aggregate price to the public of less than $500,000. Registrations effected pursuant to this
Section 2.3 shall not be counted as Demand Registrations effected pursuant to Section 2.1.

 

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3.                 
REGISTRATION PROCEDURES.

 

3.1             
Filings; Information. Whenever the Company is required to effect the registration of any Registrable Securities pursuant
to Section 2, the Company shall use its reasonable best efforts to effect the registration and sale of such Registrable Securities
in accordance with the intended method(s) of distribution thereof as expeditiously as practicable, and in connection with any such request:

 

3.1.1       
Filing Registration Statement. The Company shall use its best efforts to, as expeditiously as possible after receipt of
a request for a Demand Registration pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any
form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for
the sale of all Registrable Securities to be registered thereunder in accordance with the intended method(s) of distribution thereof,
and shall use its reasonable best efforts to cause such Registration Statement to become effective and use its reasonable best efforts
to keep it effective for the period required by Section 3.1.3; provided, however, that the Company shall have the right to defer
any Demand Registration for up to thirty (30) days, and any Piggy-Back Registration for such period as may be applicable to deferment
of any demand registration to which such Piggy-Back Registration relates, in each case if the Company shall furnish to the holders a certificate
signed by the President or Chairman of the Company stating that, in the good faith judgment of the Board of Directors of the Company,
it would be materially detrimental to the Company for such Registration Statement to be effected at such time; provided further, however,
that the Company shall not have the right to exercise the right set forth in the immediately preceding proviso more than once in any 365-day
period in respect of a Demand Registration hereunder.

 

3.1.2       
Copies. The Company shall, prior to filing a Registration Statement or prospectus, or any amendment or supplement thereto,
furnish without charge to the holders of Registrable Securities included in such registration, and such holders’ legal counsel,
copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case
including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration Statement
(including each preliminary prospectus), and such other documents as the holders of Registrable Securities included in such registration
or legal counsel for any such holders may request in order to facilitate the disposition of the Registrable Securities owned by such holders.

 

3.1.3       
Amendments and Supplements. The Company shall prepare and file with the Commission such amendments, including post-effective
amendments, and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep
such Registration Statement effective and in compliance with the provisions of the Securities Act until all Registrable Securities and
other securities covered by such Registration Statement have been disposed of in accordance with the intended method(s) of distribution
set forth in such Registration Statement or such securities have been withdrawn.

 

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3.1.4       
Notification. After the filing of a Registration Statement, the Company shall promptly, and in no event more than two (2) business
days after such filing, notify the holders of Registrable Securities included in such Registration Statement of such filing, and shall
further notify such holders promptly and confirm such advice in writing in all events within two (2) business days of the occurrence
of any of the following: (i) when such Registration Statement becomes effective; (ii) when any post-effective amendment to such
Registration Statement becomes effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if entered); and (iv) any request
by the Commission for any amendment or supplement to such Registration Statement or any prospectus relating thereto or for additional
information or of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter
delivered to the purchasers of the securities covered by such Registration Statement, such prospectus will not contain an untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading,
and promptly make available to the holders of Registrable Securities included in such Registration Statement any such supplement or amendment;
except that before filing with the Commission a Registration Statement or prospectus or any amendment or supplement thereto, including
documents incorporated by reference, the Company shall furnish to the holders of Registrable Securities included in such Registration
Statement and to the legal counsel for any such holders, copies of all such documents proposed to be filed sufficiently in advance of
filing to provide such holders and legal counsel with a reasonable opportunity to review such documents and comment thereon, and the Company
shall not file any Registration Statement or prospectus or amendment or supplement thereto, including documents incorporated by reference,
to which such holders or their legal counsel shall object.

 

3.1.5       
State Securities Laws Compliance. The Company shall use its best efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the
Company and do any and all other acts and things that may be necessary or advisable to enable the holders of Registrable Securities included
in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required
to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.

 

3.1.6       
Agreements for Disposition. The Company shall enter into customary agreements (including, if applicable, an underwriting
agreement in customary form) and take such other actions as are reasonably required in order to expedite or facilitate the disposition
of such Registrable Securities. The representations, warranties and covenants of the Company in any underwriting agreement which are made
to or for the benefit of any Underwriters, to the extent applicable, shall also be made to and for the benefit of the holders of Registrable
Securities included in such registration statement. No holder of Registrable Securities included in such registration statement shall
be required to make any representations or warranties in the underwriting agreement except, if applicable, with respect to such holder’s
organization, good standing, authority, title to Registrable Securities, lack of conflict of such sale with such holder’s material
agreements and organizational documents, and with respect to written information relating to such holder that such holder has furnished
in writing expressly for inclusion in such Registration Statement.

 

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3.1.7       
Cooperation. The principal executive officer of the Company, the principal financial officer of the Company, the principal
accounting officer of the Company and all other officers and members of the management of the Company shall cooperate fully in any offering
of Registrable Securities hereunder, which cooperation shall include, without limitation, the preparation of the Registration Statement
with respect to such offering and all other offering materials and related documents, and participation in meetings with Underwriters,
attorneys, accountants and potential investors.

 

3.1.8       
Records. The Company shall make available for inspection by the holders of Registrable Securities included in such Registration
Statement, any Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such Registration Statement or any Underwriter, all financial
and other records, pertinent corporate documents and properties of the Company, as shall be necessary to enable them to exercise their
due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any
of them in connection with such Registration Statement.

 

3.1.9       
Opinions and Comfort Letters. The Company shall furnish to each holder of Registrable Securities included in any Registration
Statement a signed counterpart, addressed to such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter
and (ii) any comfort letter from the Company’s independent public accountants delivered to any Underwriter. In the event no
legal opinion is delivered to any Underwriter, the Company shall furnish to each holder of Registrable Securities included in such Registration
Statement, at any time that such holder elects to use a prospectus, an opinion of counsel to the Company to the effect that the Registration
Statement containing such prospectus has been declared effective and that no stop order is in effect.

 

3.1.10   
Earnings Statement. The Company shall comply with all applicable rules and regulations of the Commission and the Securities
Act, and make available to its shareholders, as soon as practicable, an earnings statement covering a period of twelve (12) months,
which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.

 

3.1.11   
Listing. The Company shall use its reasonable best efforts to cause all Registrable Securities included in any registration
to be listed on such exchanges or otherwise designated for trading in the same manner as similar securities issued by the Company are
then listed or designated or, if no such similar securities are then listed or designated, in a manner satisfactory to the holders of
a majority of the Registrable Securities included in such registration.

 

3.1.12   
Road Show. If the registration involves the registration of Registrable Securities in an Underwritten Offering under Section 2.1.3
above involving gross proceeds in excess of $15,000,000, the Company shall use its reasonable efforts to make available senior executives
of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter in
any underwritten offering.

 

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3.2             
Obligation to Suspend Distribution. Upon receipt of any notice from the Company of the happening of any event of the kind
described in Section 3.1.4(iv), or, in the case of a resale registration on Form S-3 pursuant to Section 2.3 hereof, upon
any suspension by the Company, pursuant to a written insider trading compliance program adopted by the Company’s Board of Directors,
of the ability of all “insiders” covered by such program to transact in the Company’s securities because of the existence
of material non-public information, each holder of Registrable Securities included in any registration shall immediately discontinue disposition
of such Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such holder receives
the supplemented or amended prospectus contemplated by Section 3.1.4(iv) or the restriction on the ability of “insiders”
to transact in the Company’s securities is removed, as applicable, and, if so directed by the Company, each such holder will deliver
to the Company all written copies, other than permanent file copies then in such holder’s possession, of the most recent prospectus
covering such Registrable Securities at the time of receipt of such notice.

 

3.3             
Registration Expenses. The Company shall bear all costs and expenses incurred in connection with any Demand Registration
pursuant to Section 2.1, any Piggy-Back Registration pursuant to Section 2.2, and any registration on Form S-3 effected
pursuant to Section 2.3, and all expenses incurred in performing or complying with its other obligations under this Agreement, whether
or not the Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees; (ii) fees
and expenses of compliance with securities or “blue sky” laws (including fees and disbursements of counsel in connection with
blue sky qualifications of the Registrable Securities); (iii) printing expenses; (iv) the Company’s internal expenses
(including, without limitation, all salaries and expenses of its officers and employees); (v) the fees and expenses incurred in connection
with the listing of the Registrable Securities as required by Section 3.1.11; (vi) Financial Industry Regulatory Authority fees;
(vii) fees and disbursements of counsel for the Company and fees and expenses for independent certified public accountants retained
by the Company (including the expenses or costs associated with the delivery of any opinions or comfort letters requested pursuant to
Section 3.1.9); (viii) the fees and expenses of any special experts retained by the Company in connection with such registration;
and (ix) the fees and expenses of one legal counsel selected by the holders of a majority-in-interest of the Registrable Securities
included in such registration. The Company shall have no obligation to pay any underwriting discounts or selling commissions attributable
to the Registrable Securities being sold by the holders thereof, which underwriting discounts or selling commissions shall be borne by
such holders. Additionally, in an underwritten offering, all selling shareholders and the Company shall bear the expenses of the Underwriter
pro rata in proportion to the respective amount of shares each is selling in such offering.

 

3.4             
Information. The holders of Registrable Securities shall provide such information as may reasonably be requested by the
Company, or the managing Underwriter, if any, in connection with the preparation of any Registration Statement, including amendments and
supplements thereto, in order to effect the registration of any Registrable Securities under the Securities Act pursuant to Section 2
and in connection with the Company’s obligation to comply with federal and applicable state securities laws. Additionally, each
holder of Registrable Securities confirms and agrees to comply with any and all properties and all prospectus delivery requirements under
the Securities Act and rules and regulations of the Commission thereunder.

 

    11

     

    

 

4.                
INDEMNIFICATION AND CONTRIBUTION.

 

4.1             
Indemnification by the Company. The Company agrees to indemnify and hold harmless each Investor and each other holder of
Registrable Securities, and each of their respective officers, employees, affiliates, directors, partners, members, attorneys and agents,
and each person, if any, who controls an Investor and each other holder of Registrable Securities (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor Indemnified Party”), from
and against any expenses, losses, judgments, claims, damages or liabilities, whether joint or several, arising out of or based upon any
untrue statement (or allegedly untrue statement) of a material fact contained in any Registration Statement under which the sale of such
Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
in the Registration Statement, or any amendment or supplement to such Registration Statement, or arising out of or based upon any omission
(or alleged omission) to state a material fact required to be stated therein or necessary to make the statements therein not misleading,
or any violation by the Company of the Securities Act or any rule or regulation promulgated thereunder applicable to the Company and relating
to action or inaction required of the Company in connection with any such registration; and the Company shall promptly reimburse the Investor
Indemnified Party for any legal and any other expenses reasonably incurred by such Investor Indemnified Party in connection with investigating
and defending any such expense, loss, judgment, claim, damage, liability or action whether or not any such person is a party to any such
claim or action and including any and all legal and other expenses incurred in giving testimony or furnishing documents in response to
a subpoena or otherwise; provided, however, that the Company will not be liable in any such case to the extent that any such expense,
loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly untrue statement or omission or alleged
omission made in such Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or any such amendment or
supplement, in reliance upon and in conformity with information furnished to the Company, in writing, by such selling holder expressly
for use therein. The Company also shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors,
partners, members and agents and each person who controls such Underwriter on substantially the same basis as that of the indemnification
provided above in this Section 4.1.

 

4.2             
Indemnification by Holders of Registrable Securities. Subject to the limitations set forth in Section 4.4.3 hereof,
each selling holder of Registrable Securities will, in the event that any registration is being effected under the Securities Act pursuant
to this Agreement of any Registrable Securities held by such selling holder, indemnify and hold harmless the Company, each of its directors
and officers and each Underwriter (if any), and each other selling holder and each other person, if any, who controls another selling
holder or such Underwriter within the meaning of the Securities Act, against any losses, claims, judgments, damages or liabilities, whether
joint or several, insofar as such losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or are
based upon any untrue statement or allegedly untrue statement of a material fact contained in any Registration Statement under which the
sale of such Registrable Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus
contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or arise out of or are based upon
any omission or the alleged omission to state a material fact required to be stated therein or necessary to make the statement therein
not misleading, if the statement or omission was made in reliance upon and in conformity with information furnished in writing to the
Company by such selling holder expressly for use therein, and shall reimburse the Company, its directors and officers, and each other
selling holder or controlling person for any legal or other expenses reasonably incurred by any of them in connection with investigation
or defending any such loss, claim, damage, liability or action. Each selling holder’s indemnification obligations hereunder shall
be several and not joint and shall be limited to the amount of any net proceeds actually received by such selling holder.

 

    12

     

    

 

4.3             
Conduct of Indemnification Proceedings. Promptly after receipt by any person of any notice of any loss, claim, damage or
liability or any action in respect of which indemnity may be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified
Party”) shall, if a claim in respect thereof is to be made against any other person for indemnification hereunder, notify
such other person (the “Indemnifying Party”) in writing of the loss, claim, judgment, damage, liability or action;
provided, however, that the failure by the Indemnified Party to notify the Indemnifying Party shall not relieve the Indemnifying Party
from any liability which the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the extent the Indemnifying
Party is actually prejudiced by such failure. If the Indemnified Party is seeking indemnification with respect to any claim or action
brought against the Indemnified Party, then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the
extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the defense thereof with counsel satisfactory
to the Indemnified Party. After notice from the Indemnifying Party to the Indemnified Party of its election to assume control of the defense
of such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses subsequently
incurred by the Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided, however,
that in any action in which both the Indemnified Party and the Indemnifying Party are named as defendants, the Indemnified Party shall
have the right to employ separate counsel (but no more than one such separate counsel) to represent the Indemnified Party and its controlling
persons who may be subject to liability arising out of any claim in respect of which indemnity may be sought by the Indemnified Party
against the Indemnifying Party, with the fees and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written
advice of counsel of such Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, consent
to entry of judgment or effect any settlement of any claim or pending or threatened proceeding in respect of which the Indemnified Party
is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such judgment or settlement
includes an unconditional release of such Indemnified Party from all liability arising out of such claim or proceeding.

 

4.4             
Contribution.

 

4.4.1       
If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is unavailable to any Indemnified Party in
respect of any loss, claim, damage, liability or action referred to herein, then each such Indemnifying Party, in lieu of indemnifying
such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, claim, damage,
liability or action in such proportion as is appropriate to reflect the relative fault of the Indemnified Parties and the Indemnifying
Parties in connection with the actions or omissions which resulted in such loss, claim, damage, liability or action, as well as any other
relevant equitable considerations. The relative fault of any Indemnified Party and any Indemnifying Party shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state
a material fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

    13

     

    

 

4.4.2       
The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 4.4 were determined
by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in
the immediately preceding Section 4.4.1.

 

4.4.3       
The amount paid or payable by an Indemnified Party as a result of any loss, claim, damage, liability or action referred to in the
immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred
by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 4.4, no holder of Registrable Securities shall be required to contribute any amount in excess of the dollar amount of the
net proceeds (after payment of any underwriting fees, discounts, commissions or taxes) actually received by such holder from the sale
of Registrable Securities which gave rise to such contribution obligation. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) with respect to any action shall be entitled to contribution in such action from
any person who was not guilty of such fraudulent misrepresentation.

 

5.                 
UNDERWRITING AND DISTRIBUTION.

 

5.1             
Rule 144. The Company covenants that it shall file any reports required to be filed by it under the Securities Act
and the Exchange Act and shall take such further action as the holders of Registrable Securities may reasonably request, all to the extent
required from time to time to enable such holders to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission.

 

6.                 
MISCELLANEOUS.

 

6.1             
Other Registration Rights. The Company represents and warrants that no person, other than the holders of the Registrable
Securities, has any right to require the Company to register any shares of the Company’s capital stock for sale or to include shares
of the Company’s capital stock in any registration filed by the Company for the sale of shares of capital stock for its own account
or for the account of any other person.

 

    14

     

    

 

6.2             
Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties and obligations of the Company hereunder
may not be assigned or delegated by the Company in whole or in part. This Agreement and the rights, duties and obligations of the holders
of Registrable Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities in conjunction with and
to the extent of any transfer of Registrable Securities by any such holder. This Agreement and the provisions hereof shall be binding
upon and shall inure to the benefit of each of the parties, to the permitted assigns of the Investors or holder of Registrable Securities
or of any assignee of the Investors or holder of Registrable Securities. This Agreement is not intended to confer any rights or benefits
on any persons that are not party hereto other than as expressly set forth in Article 4 and this Section 6.2.

 

6.3             
Notices. All notices, demands, requests, consents, approvals or other communications (collectively, “Notices”)
required or permitted to be given hereunder or which are given with respect to this Agreement shall be in writing and shall be personally
served, delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery, telegram, telex or facsimile,
addressed as set forth below, or to such other address as such party shall have specified most recently by written notice. Notice shall
be deemed given on the date of service or transmission if personally served or transmitted by telegram, telex or facsimile; provided,
that if such service or transmission is not on a business day or is after normal business hours, then such notice shall be deemed given
on the next business day. Notice otherwise sent as provided herein shall be deemed given on the next business day following timely delivery
of such notice to a reputable air courier service with an order for next-day delivery.

 

To the Company:

 

Keyarch Acquisition Corporation

275 Madison Avenue, 39th floor

New York, NY 10016

Attn: Chief Executive Officer

Email: kxiong@keywisecapital.com

 

with a copy to:

 

Orrick, Herrington & Sutcliffe LLP

The Orrick Building

45 Howard Street

San Francisco, California 94105

Attn:      Alice Hsu, Esq.

Karen Dempsey, Esq.

Email:    ahsu@orrick.com

kdempsey@orrick.com

 

To an Investor to the address
set forth below such Investor’s name on Exhibit A hereto.

 

6.4             
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 that is valid and enforceable.

 

    15

     

    

 

6.5             
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all
of which taken together shall constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile
or email/pdf transmission shall constitute valid and sufficient delivery thereof.

 

6.6             
Entire Agreement. This Agreement (including all agreements entered into pursuant hereto and all certificates and instruments
delivered pursuant hereto and thereto) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede
all prior and contemporaneous agreements, representations, understandings, negotiations and discussions between the parties, whether oral
or written.

 

6.7             
Modifications and Amendments. No amendment, modification or termination of this Agreement shall be binding upon any party
unless executed in writing by such party.

 

6.8             
Titles and Headings. Titles and headings of sections of this Agreement are for convenience only and shall not affect the
construction of any provision of this Agreement.

 

6.9             
Waivers and Extensions. Any party to this Agreement may waive any right, breach or default which such party has the right
to waive, provided that such waiver will not be effective against the waiving party unless it is in writing, is signed by such party,
and specifically refers to this Agreement. Waivers may be made in advance or after the right waived has arisen or the breach or default
waived has occurred. Any waiver may be conditional. No waiver of any breach of any agreement or provision herein contained shall be deemed
a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or extension
of time for performance of any obligations or acts shall be deemed a waiver or extension of the time for performance of any other obligations
or acts.

 

6.10         
Remedies Cumulative. In the event that the Company fails to observe or perform any covenant or agreement to be observed
or performed under this Agreement, the Investor or any other holder of Registrable Securities may proceed to protect and enforce its rights
by suit in equity or action at law, whether for specific performance of any term contained in this Agreement or for an injunction against
the breach of any such term or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable
right, or to take any one or more of such actions, without being required to post a bond. None of the rights, powers or remedies conferred
under this Agreement shall be mutually exclusive, and each such right, power or remedy shall be cumulative and in addition to any other
right, power or remedy, whether conferred by this Agreement or now or hereafter available at law, in equity, by statute or otherwise.

 

6.11         
Governing Law. This Agreement shall be governed by, interpreted under, and construed in accordance with the internal laws
of the State of New York applicable to agreements made and to be performed within the State of New York, without giving effect to any
choice-of-law provisions thereof that would compel the application of the substantive laws of any other jurisdiction. The Company irrevocably
submits to the nonexclusive jurisdiction of any New York State or United States Federal court sitting in The City of New York, Borough
of Manhattan, over any suit, action or proceeding arising out of or relating to this Agreement. The Company irrevocably waives, to the
fullest extent permitted by law, any objection that they may now or hereafter have to the laying of venue of any such suit, action or
proceeding brought in such a court and any claim that any such suit, action or proceeding brought in such a court has been brought in
an inconvenient forum.

 

    16

     

    

 

6.12         
Waiver of Trial by Jury. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION,
SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS
AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF THE INVESTOR IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT
HEREOF.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    17

     

    

 

IN WITNESS WHEREOF, the parties
have caused this Registration Rights Agreement to be executed and delivered by their duly authorized representatives as of the date first
written above.

 

	 	Keyarch Acquisition Corporation
	 	 	 
	 	By:	 
	 	Name:	Kai Xiong
	 	Title:	Chief Executive Officer
	 	 	 
	 	Keyarch Global Sponsor Limited
	 	 	 
	 	By:	 
	 	Name:	Kai Xiong
	 	Title:	Chief Executive Officer
	 	 	 
	 	EarlyBirdCapital, Inc.
	 	 	 
	 	By:	 
	 	Name:	Steven Levine
	 	Title:	Chief Executive Officer

 

    18

     

    

 

EXHIBIT A

 

	Name and Address of Investor or Underwriter	 	Securities
	Keyarch Global Sponsor Limited	 	450,000 units (not including an additional 40,500 units if the over-allotment option is exercised in full)
	EarlyBirdCapital, Inc.	 	50,000 units (not including an additional 4,500 units if the over-allotment option is exercised in full)

 

    19Exhibit 10.8

 

KEYARCH ACQUISITION
CORPORATION

 

PRIVATE PLACEMENT
UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT
(this “Agreement”) is made as of         , by and between Keyarch Acquisition Corporation, a Cayman Islands exempted
company (the “Company”), having its principal place of business at 275 Madison Avenue, 39th Floor
New York, New York 10016, Keyarch Global Sponsor Limited, a Cayman Islands exempted company (the “Sponsor”)
and EarlyBirdCapital, Inc., a New York Corporation (“EarlyBirdCapital” and, together with the Sponsor, the “Purchasers”).

 

WHEREAS, the Company desires
to conduct an initial public offering (the “IPO”), as described and conducted in accordance with a Registration
Statement on Form S-1 (SEC File. No. 333-261500) (the “Registration Statement”) filed by the Company with the Securities
and Exchange Commission (the “SEC”), of 10,000,000 units (the “Units”) (or 11,500,000
Units if the underwriter’s over-allotment (the “Over-Allotment Option”) is exercised in full), each Unit
consisting of one Class A ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”),
one-half (1/2) of one warrant to purchase one Ordinary Share (each whole warrant, a “Warrant”), and one right
to receive one-tenth (1/10) of one Ordinary Share (the “Right”).

 

WHEREAS, the Company
desires to sell on a private placement basis (the “Offering”) an aggregate of 500,000 units (the
 “Initial Private Units”) of the Company (consisting of 450,000 Initial
Private Units to be purchased by the Sponsor and 50,000 Initial Private Units to be purchased by EarlyBirdCapital and/or its
designees), and up to an additional 45,000 Additional Private Units (“Additional Private Units” and
together with the Initial Private Units, the “Private Units”) of the Company (consisting of up
to 40,500 Additional Private Units to be purchased by the Sponsor and up to 4,500 Additional Private Units to be purchased by
EarlyBirdCapital and/or its designees) in the event that the Over-Allotment Option is exercised in full or part. Each Private
Unit is comprised of one Class A ordinary share of the Company, par value $0.0001 per share (the “Private
Shares”), one-half (1/2) of one warrant to purchase one Private Share (each whole warrant, a “Private
Warrant” and such Private Shares, the “Warrant Shares”), and one right to receive one-tenth
(1/10) of one Private Share (a “Private Right” and each Private Share, the “Right
Shares” and the Right Shares together with the Warrant Shares and Private Shares underlying the Private Units, the
 “Unit Shares”), for a purchase price of $10.00 per Private Unit. The Private Warrants are governed by the
Private Warrant Agreement (defined herein) and the Private Rights are governed by the Rights Agreement (defined herein).

 

WHEREAS, the Purchasers desire
to purchase up to 545,000 Private Units in the aggregate and the Company wishes to accept such subscription.

 

NOW, THEREFORE, in consideration
of the promises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Purchasers hereby agree as follows:

 

1.                 
Agreement to Subscribe

 

1.1              Purchase
and Issuance of the Private Units. For the aggregate sum of $5,000,000 (the “Initial Purchase Price”),
upon the terms and subject to the conditions of this Agreement, the Purchasers hereby agree to purchase from the Company, and the
Company hereby agrees to sell to the Purchasers, on the Closing Date (as defined in Section 1.2) 500,000 Initial Private Units
at $10.00 per Initial Private Unit, with the Sponsor agreeing to purchase 450,000 of such Initial Private Units and EarlyBirdCapital
(and/or its designees) agreeing to purchase 50,000 of such Initial Private Units. 

 

     

     

    

 

In addition to the
foregoing, the Purchasers hereby agree to purchase up to 45,000 Additional Private Units at $10.00 per Additional Private Unit for a
purchase price of up to $450,000 (the “Additional Purchase Price” and together with the Initial Purchase
Price, the “Purchase Price”), with the Sponsor agreeing to purchase up to 40,500 of such Additional
Private Units and EarlyBirdCapital (and/or its designees) agreeing to purchase up to 4,500 of such Additional Private Units. The
purchase and issuance of the Additional Private Units shall occur only in the event that the Over-Allotment Option is exercised in
full or part. The total number of Additional Private Units to be purchased hereunder shall be in the same proportion as the amount
of the Over-Allotment Option that is exercised. Each purchase of Additional Private Units shall occur simultaneously with the
consummation of any portion of the Over-Allotment Option.

 

1.2             
Closing. The closing of the purchase and sale of the Initial Private Units shall take place at the offices of Orrick, Herrington
 & Sutcliffe LLP, 45 Howard Street, San Francisco, California, 94105 simultaneously with the consummation of the IPO and the purchase
and sale of the Additional Private Units shall take place upon the consummation of the exercise of all or any portion of the Over-Allotment
Option (each a “Closing Date”).

 

1.3             
Delivery of the Purchase Price. At least one business day prior to the effective date of the Registration Statement, or
the date of the exercise of the Over-Allotment Option, if any, the Purchasers agree to deliver their respective portions of the Initial
Purchase Price or Additional Purchase Price, as the case may be, by certified bank check or wire transfer of immediately available funds
denominated in United States Dollars to Continental Stock Transfer & Trust Company, the Company’s transfer agent, which is hereby
irrevocably authorized to deposit such funds on the applicable Closing Date to the trust account which will be established for the benefit
of the Company’s public shareholders, managed pursuant to that certain Investment Management Trust Agreement to be entered into
by and between the Company and Continental Stock Transfer & Trust Company and into which substantially all of the proceeds of the
IPO will be deposited (the “Trust Account”). If the IPO is not consummated within 14 days of the date the Initial
Purchase Price is delivered to Continental Stock Transfer & Trust Company, each Purchaser's respective portion of the Initial Purchase
Price shall be returned to the Purchasers by certified bank check or wire transfer of immediately available funds denominated in United
States Dollars, without interest or deduction.

 

1.4             
Delivery of Unit Certificate. Upon the applicable Closing Date after delivery of the Purchase Price in accordance with Section 1.3,
the Purchasers shall become irrevocably entitled to receive a unit certificate representing the Private Units purchased hereunder.

 

2.                 
Representations and Warranties of the Purchasers

 

Each Purchaser represents
and warrants, severally and not jointly, to the Company that:

 

     

     

    

 

2.1             
No Government Recommendation or Approval. It understands that no United States federal or state agency or similar agency
of any other country has passed upon or made any recommendation or endorsement of the Company, the Offering, the Private Units, the Private
Shares, the Private Warrants, the Private Rights, the Warrant Shares and the Right Shares (collectively, the “Securities”).

 

2.2             
Organization. The Sponsor alone represents and warrants that it is an exempted company, validly existing and in good standing
under the laws of the Cayman Islands and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. EarlyBirdCapital alone represents and warrants that it is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware and  possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

2.3             
Private Offering. It is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D
under the Securities Act of 1933, as amended (the “Securities Act”) or it is not a “U.S. Person”
as defined in Rule 902 of Regulation S (“Regulation S”) under the Securities Act. It acknowledges that the sale
contemplated hereby is being made in reliance on a private placement exemption to “Accredited Investors” within the meaning
of Section 501(a) of Regulation D under the Securities Act and similar exemptions under state law or a non-U.S. Person under Regulation
S.

 

2.4             
Authority. This Agreement has been validly authorized, executed and delivered by the Purchaser and is a valid and binding
agreement enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles
of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

2.5             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Purchaser of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Purchaser’s organizational documents,
(ii) any agreement, indenture or instrument to which the Purchaser is a party or (iii) any law, statute, rule or regulation
to which the Purchaser is subject, or any agreement, order, judgment or decree to which the Purchaser is subject.

 

2.6             
No Legal Advice from Company. It acknowledges it has had the opportunity to review this Agreement and the transactions contemplated
by this Agreement and the other agreements entered into between the parties hereto with its own legal counsel and investment and tax advisors.
Except for any statements or representations of the Company made in this Agreement and the other agreements entered into between the parties
hereto, it is relying solely on such counsel and advisors and not on any statements or representations of the Company or any of its representatives
or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by this Agreement or the
securities laws of any jurisdiction. Purchaser understands and acknowledges that the law firm of Orrick, Herrington & Sutcliffe LLP
is not acting as counsel or providing legal advice to Purchaser.

 

     

     

    

 

2.7             
Access to Information; Independent Investigation. Prior to the execution of this Agreement, it has had the opportunity to
ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances,
operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all
information so obtained. In determining whether to make this investment, it has relied solely on its own knowledge and understanding of
the Company and its business based upon its own due diligence investigation and the information furnished pursuant to this paragraph.
It understands that no person has been authorized to give any information or to make any representations which were not furnished pursuant
to this Section 2 and it has not relied on any other representations or information in making its investment decision, whether written
or oral, relating to the Company, its operations and/or its prospects.

 

2.8             
Reliance on Representations and Warranties. It understands the Private Units are being offered and sold to it in reliance
on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various
states, and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of each Purchaser set forth in this Agreement in order to determine the applicability of such provisions.

 

2.9             
No Advertisements. It is not subscribing for the Private Units as a result of or subsequent to any advertisement, article,
notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented
at any seminar or meeting.

 

2.10         
Legend. It acknowledges and agrees the certificates evidencing the Private Units, the Private Shares, the Private Warrants
and the Private Rights shall bear a restrictive legend (the “Legend”), in form and substance as set forth in
Section 4 hereof, prohibiting the offer, sale, pledge or transfer of the securities, except (i) pursuant to an effective registration
statement covering these securities under the Securities Act or (ii) pursuant to any other exemptions from the registration requirements
under the Securities Act and such laws which, in the opinion of counsel for the Company, is available.

 

2.11         
Experience, Financial Capability and Suitability. It is (i) sophisticated in financial matters and is able to evaluate
the risks and benefits of the investment in the Securities and (ii) able to bear the economic risk of its investment in the Securities
for an indefinite period of time because the Securities have not been registered under the Securities Act and therefore cannot be sold
unless subsequently registered under the Securities Act or an exemption from such registration is available. It has substantial experience
in evaluating and investing in transactions of securities in companies similar to the Company so that it is capable of evaluating the
merits and risks of its investment in the Company and has the capacity to protect its own interests.

 

2.12         
Investment Purposes. It is purchasing the Securities solely for investment purposes, for its own account and not for the
account or benefit of any other person, and not with a view towards the distribution or dissemination thereof and it has no present arrangement
to sell the interest in the Securities to or through any person or entity. 

 

     

     

    

 

2.13         
Restrictions on Transfer. It acknowledges and understands the Private Units are being offered in a transaction not involving
a public offering in the United States within the meaning of the Securities Act. The Securities have not been registered under the Securities
Act, and, if in the future, it decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered,
resold, pledged or otherwise transferred only (A) pursuant to an effective registration statement filed under the Securities Act,
(B) pursuant to an exemption from registration under Rule 144 promulgated under the Securities Act (“Rule 144”),
if available, or (C) pursuant to any other available exemption from the registration requirements of the Securities Act, and in each
case in accordance with any applicable securities laws of any state or any other jurisdiction. It agrees that if any transfer of its Securities
or any interest therein is proposed to be made, as a condition precedent to any such transfer, it may be required to deliver to the Company
an opinion of counsel satisfactory to the Company. Absent registration or another available exemption from registration, it agrees it
will not resell the Securities. It further acknowledges that because the Company is a shell company, Rule 144 may not be available to
it for the resale of the Securities until the one-year anniversary following consummation of the initial Business Combination (defined
below) of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions. In addition to the foregoing, the Purchaser acknowledges and agrees that it will be executing an insider letter and lockup
agreement with the Company and EarlyBirdCapital as underwriters’ representative, further restricting the Purchaser’s ability
and rights to transfer any Securities.

 

3.                 
Representations and Warranties of the Company

 

The Company represents and
warrants to each Purchaser that:

 

3.1             
Valid Issuance of Share Capital. The total number of all classes of share capital which the Company has authority to issue
is (i) 180,000,000 Class A ordinary shares, (ii) 20,000,000 Class B ordinary shares and (iii) 1,000,000 preference shares. As of
the date hereof, the Company has issued 2,875,000 Class B ordinary shares (of which up to 375,000 Class B ordinary shares are subject
to forfeiture as described in the Registration Statement related to the IPO) and has not issued any preference shares. All of the issued
share capital of the Company has been duly authorized, validly issued, and are fully paid and non-assessable.

 

3.2             
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the warrant agreement
to be entered into with Continental Stock Transfer & Trust Company on or prior to the closing of the IPO (“Private Warrant
Agreement”), the rights agreement to be entered into with Continental Stock Transfer & Trust Company on or prior to
the closing of the IPO (the “Rights Agreement”) and the Amended and Restated Memorandum and Articles of Association
of the Company, as the case may be, each of the Private Units, Private Warrants, Private Rights and the Private Shares will be duly and
validly issued, fully paid and non-assessable. On the date of issuance of the Private Units, the Warrant Shares and the Right Shares shall
have been reserved for issuance. Upon issuance in accordance with the terms hereof, the Private Warrant Agreement and the Amended and
Restated Memorandum and Articles of Association of the Company, the Purchasers will have or receive good title to the Warrant Shares,
free and clear of all liens, claims and encumbrances of any kind, and upon issuance in accordance with the terms hereof, the Rights Agreement
and the Amended and Restated Memorandum and Articles of Association of the Company, the Purchasers will have or receive good title to
the Right Shares, free and clear of all liens, claims and encumbrances of any kind other than (i) any contractual transfer restrictions
and (ii) transfer restrictions under federal and state securities laws.

 

     

     

    

 

3.3             
Organization and Qualification. The Company has been duly incorporated and is validly existing as a Cayman Islands exempted
company and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

 

3.4             
Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform
its obligations under this Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery
and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized
by all necessary corporate action and no further consent or authorization of the Company or its Board of Directors or shareholders is
required, and (iii) this Agreement constitutes, and upon the execution and delivery thereof, the Private Warrants and Private Warrant
Agreement, and the Rights and Rights Agreement, will constitute, valid and binding obligations of the Company enforceable against the
Company in accordance with their respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution
may be limited by federal and state securities laws or principles of public policy.

 

3.5             
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not (i) result in a violation of the Company’s Memorandum and Articles of Association, (ii) conflict
with, or constitute a default under any agreement, indenture or instrument to which the Company is a party or (iii) conflict with
any law statute, rule or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is
subject. Other than any federal, state or foreign securities filings which may be required to be made by the Company subsequent to the
Closing, and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local
law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Securities in accordance
with the terms hereof.

 

4.                 
Legends

 

4.1             
Legend. The Company will issue the Securities, purchased by the Purchasers, in the name of the Purchasers. The Securities
will bear the following Legend and appropriate “stop transfer” instructions: 

 

     

     

    

 

THESE SECURITIES (i) HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THESE
SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
FILED UNDER THE SECURITIES ACT, (B) TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION
S UNDER THE SECURITIES ACT, (C) PURSUANT TO THE RESALE LIMITATIONS SET FORTH IN RULE 905 OF REGULATION S UNDER THE SECURITIES ACT,
(D) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO ANY
OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS
IN COMPLIANCE WITH THE SECURITIES ACT.

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BETWEEN KEYARCH ACQUISITION CORPORATION AND KEYARCH GLOBAL SPONSOR LIMITED AND MAY ONLY
BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH THEREIN.”

 

4.2             
Purchasers’ Compliance. Nothing in this Section 4 shall affect in any way the Purchasers’ obligations and
agreements to comply with all applicable securities laws upon resale of the Securities.

 

4.3             
Company’s Refusal to Register Transfer of the Securities. The Company shall refuse to register any transfer of the
Securities, if in the sole judgment of the Company such purported transfer would not be made (i) pursuant to an effective registration
statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements of the Securities
Act.

 

4.4             
Registration Rights. The Purchasers will be entitled to certain registration rights with respect to the Ordinary Shares
held by them which will be governed by a registration rights agreement (“Registration Rights Agreement”) to
be entered into with the Company on or prior to the closing of the IPO.

 

5.                 
Lockup

 

The Purchasers acknowledge
and agree severally, and not jointly, that the Securities shall not be transferable, saleable or assignable until thirty (30) days after
the consummation of an acquisition, share exchange, purchase of all or substantially all of the assets of, or any other similar business
combination with one or more businesses or entities (a “Business Combination”), except (a) to the Company's
officers or directors, any affiliates or family members of any of the Company's officers or directors, any partners of the Sponsor, or
any affiliates of the Sponsor, (b) in the case of an individual, by gift to a member of the individual’s immediate family or to
a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or to a charitable
organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the
case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with the
consummation of a business combination at prices no greater than the price at which the securities were originally purchased; (f) in
the event of our liquidation prior to our completion of our initial business combination; (g) by virtue of the laws of Cayman Islands
or the Sponsor's articles of association, as amended, upon liquidation of our sponsor; or (h) in the event of our completion of a liquidation,
merger, amalgamation, share exchange, reorganization or other similar transaction which results in all of our shareholders having the
right to exchange their Class A ordinary shares for cash, securities or other property subsequent to our completion of our initial business
combination; provided, however, that in the case of clauses (a) through (e) and (g) these permitted transferees must enter into a written
agreement agreeing to be bound by these transfer restrictions. 

 

     

     

    

 

The Private Units issued to
EarlyBirdCapital are deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA Rule 5110(e)(1) and
may not be sold, transferred, assigned, pledged or hypothecated or be the subject of any hedging, short sale, derivative, put or call
transaction that would result in the economic disposition of the securities by any person for a 180-day period following the effective
date of the Company's initial public offering prospectus except to any selected dealer participating in the offering and the bona fide
officers or partners of the underwriter and any such participating selected dealer.

 

6.                 
Securities Laws Restrictions

 

The Purchasers agree severally,
and not jointly, not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities unless, prior thereto
(a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with respect to
the Securities proposed to be transferred shall then be effective or (b) the Company shall have received an opinion from counsel
reasonably satisfactory to the Company, that such registration is not required because such transaction complies with the Securities Act
and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

7.                 
Waiver of Distributions from Trust Account

 

In connection with the Securities
purchased pursuant to this Agreement, the Purchasers hereby waive any and all right, title, interest or claim of any kind in or to any
distributions from the Trust Account.

 

8.                 
Rescission Right Waiver and Indemnification

 

8.1             
Rescission Waiver. The Purchasers understand and acknowledge severally, not jointly, that an exemption from the registration
requirements of the Securities Act requires there be no general solicitation of purchasers of the Private Units. In this regard, if the
Offering were deemed to be a general solicitation with respect to the Private Units, the offer and sale of such Private Units may not
be exempt from registration and, if not, the Purchasers may have a right to rescind their purchase of the Private Units. In order to facilitate
the completion of the Offering and in order to protect the Company, its shareholders and the Trust Account from claims that may adversely
affect the Company or the interests of its shareholders, the Purchasers hereby agree severally, not jointly, to waive, to the maximum
extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as the case may be, to seek rescission of
its purchase of the Private Units as a result of the issuance of the Private Units being deemed to be in violation of Section 5 of
the Securities Act. The Purchasers acknowledge and agree severally, not jointly, this waiver is being made in order to induce the Company
to sell the Private Units to the Purchasers. The Purchasers agree severally, not jointly, the foregoing waiver of rescission rights shall
apply to any and all known or unknown actions, causes of action, suits, claims or proceedings (collectively, “Claims”)
and related losses, costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses in
connection therewith, including reasonable attorneys’ and expert witness fees and disbursements and all other expenses reasonably
incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with any present or
future actual or asserted right to rescind the purchase of the Private Units hereunder or relating to the purchase of the Private Units
and the transactions contemplated hereby.

  

     

     

    

 

8.2             
No Recourse Against Trust Account. The Purchasers agree severally, not jointly, not to seek recourse against the Trust Account
for any reason whatsoever in connection with its purchase of the Private Units or any Claim that may arise now or in the future.

 

8.3             
Section 8 Waiver. The Purchasers agree severally, not jointly, that to the extent any waiver of rights under this Section
8 is ineffective as a matter of law, the Purchasers have offered such waiver for the benefit of the Company as an equitable right that
shall survive any statutory disqualification or bar that applies to a legal right. The Purchasers acknowledge severally, not jointly,
the receipt and sufficiency of consideration received from the Company hereunder in this regard.

 

9.                 
Terms of the Unit

 

The Private Units shall be
substantially identical to the Units offered in the IPO as set forth in the Underwriting Agreement, except the Private Units: (i) will
be subject to the transfer restrictions described herein, and (ii) are being purchased pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after certain conditions are met or the resale of the Private
Units is registered under the Securities Act.

 

10.             
Governing Law; Jurisdiction; Waiver of Jury Trial

 

This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such territory.
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.

 

11.             
Assignment; Entire Agreement; Amendment

 

11.1         
Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than
by the Purchasers, without the prior consent of the Company, to one or more persons agreeing to be bound by the terms hereof. Upon such
assignment by a Purchaser, the assignee(s) shall become Purchaser hereunder and have the rights and obligations provided for herein to
the extent of such assignment.

  

     

     

    

 

11.2         
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the parties as to the subject
matter hereof and supersedes any and all prior discussions, agreements and understandings of any and every nature.

 

11.3         
Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver,
discharge or termination is sought.

 

11.4         
Binding upon Successors. 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.

 

12.             
Notices; Indemnity

 

12.1         
Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the
receiving party’s address set forth herein or to such other address as a party may designate by notice hereunder, and shall be either
(a) delivered by hand, (b) sent by overnight courier, or (c) sent by certified mail, return receipt requested, postage
prepaid. All notices, requests, consents and other communications hereunder shall be deemed to have been given either (i) if by hand,
at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if sent by overnight
courier, on the next business day following the day such notice is delivered to the courier service, or (iii) if sent by certified
mail, on the fifth business day following the day such mailing is made.

 

12.2         
Indemnification. Except as set forth in Section 8, each party shall indemnify the other party against any loss, cost
or damages (including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any representation,
warranty, covenant or agreement set forth in this Agreement.

 

13.             
Counterparts

 

This Agreement may be executed
in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile transmission or any other form of electronic delivery,
such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with
the same force and effect as if such signature page were an original thereof.

 

14.             
Survival; Severability

 

14.1         
Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing until
one (1) year following the consummation of an initial Business Combination.

 

14.2         
Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction
to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that
no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party.

  

     

     

    

 

15.             
Headings

 

The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

16.             
Construction

 

The parties hereto have participated
jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement
will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring
any party hereto because of the authorship of any provision of this Agreement. The words “include,” “includes,”
and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the plural
and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
 “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to
any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained
herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein
in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party
hereto is in breach of the first representation, warranty, or covenant.

 

[remainder of page intentionally left blank]

     

     

    

 

 

This subscription is accepted by the Company as
of the date first written above.

 

	 	KEYARCH ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	Name:	Kai Xiong
	 	Title:	Chief Executive Officer

 

	Accepted and agreed this	 
	 	 
	KEYARCH GLOBAL SPONSOR LIMITED	 
	 	 
	By:	 	 
	Name:	Fang Zheng	 
	Title:	Director	 
	 	 	 
	EARLYBIRDCAPITAL, INC.	 
	 	 
	By:	 	 
	Name:	Steven
    Levine	 
	Title:	Chief Executive Officer	 

 

  

[Signature Page for Private Placement Unit Subscription
Agreement]

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