Document:

Exhibit 10.3

 

February 12, 2020

 

Yunhong International

4 – 19/F, 126 Zhong Bei,

Wuchang District, Wuhan,

China, 430061

 

Re: Initial Public Offering

 

Gentlemen:

 

This letter (this “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and among Yunhong International, a Cayman Islands exempted company (the “Company”),
and Maxim Group LLC, as representative (the “Representative”) of the several underwriters (each, an “Underwriter”
and collectively, the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of 6,000,000 of the Company’s units (including up to 900,000 units that may be purchased to cover
over-allotments, if any) (the “Units”), each comprised of one of the Company’s Class A ordinary
shares, par value $0.001 per share (the “Ordinary Shares”), one-half of one redeemable warrant and one
right. Each whole Warrant (each, a “Warrant”) entitles the holder thereof to purchase one Ordinary Share
at a price of $11.50 per share, subject to adjustment. Each right (each, a “Right”) entitles the holder
thereof to receive one-tenth (1/10) of one Ordinary share upon consummation of our initial business combination. The Units shall
be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”) and the Company shall
apply to have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in Section 11 hereof.

 

In order to induce the Company and the
Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, LF International Pte. Ltd. (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each,
an “Insider” and collectively, the “Insiders”), hereby agrees with the Company
as follows:

 

1. The Sponsor and each Insider agrees
that (A) if the Company seeks shareholder approval of a proposed Business Combination (as defined below), then in connection with
such proposed Business Combination, it or he shall (i) vote any Shares owned by it or him in favor of any proposed Business
Combination and (ii) not redeem any Shares owned by it or him in connection with such shareholder approval, (B) if the Company
engages in a tender offer in connection with any proposed Business Combination, it or he shall not sell any Shares to the Company
in connection therewith and (C) if the Company seeks shareholder approval of any proposed amendment to the Charter prior to the
consummation of a Business Combination, it or he shall not redeem any Shares owned by it or him in connection with such shareholder
approval.

 

2. The Sponsor and each Insider hereby
agrees that in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter,
the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully
available funds therefor, redeem 100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering
Shares”), at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust
Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay any
taxes (less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares,
which redemption will completely extinguish all Public Shareholders’ rights as shareholders (including the right to receive
further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors,
dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to the Company’s obligations under Cayman Islands
law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees to not propose
any amendment to the Charter that would affect the substance or timing of the Company’s obligation to redeem 100% of the
Offering Shares if the Company does not complete a Business Combination within the time period described in the Prospectus, unless
the Company provides its public shareholders with the opportunity to redeem their Ordinary Shares upon approval of any such amendment
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay any taxes, divided by
the number of then outstanding Offering Shares.

 

     

     

    

 

The Sponsor and each Insider acknowledges
that it or he has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset
of the Company as a result of any liquidation of the Company with respect to the Founder Shares held by it, or Private Placement
Shares in the case of the Sponsor. The Sponsor and each Insider hereby further waives any claim such Sponsor or Insider may have
in the future as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against
the Trust Fund for any reason whatsoever except in each case with respect to the Insider’s right to a pro rata interest in
the proceeds held in the Trust Fund for any Offering Shares such Sponsor or Insider may hold.

 

3. During the period commencing on
the effective date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each Insider shall not, without
the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge,
grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a
put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to
any Units, Ordinary Shares, Founder Shares, Warrants, Rights or any securities convertible into, or exercisable, or exchangeable
for, Ordinary Shares owned by it or him, (ii) enter into any swap or other arrangement that transfers to another, in whole
or in part, any of the economic consequences of ownership of any Units, Ordinary Shares, Founder Shares, Warrants, Rights or any
securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it or him, whether any such transaction
is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect
any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor acknowledges and agrees that, prior
to the effective date of any release or waiver, of the restrictions set forth in this Section 3 or Section 7 below, the Company
shall announce the impending release or waiver by press release through a major news service at least two business days before
the effective date of the release or waiver. Any release or waiver granted shall only be effective two business days after the
publication date of such press release. The provisions of this Section will not apply if the release or waiver is effected solely
to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in
this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

4. In the event of the liquidation
of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers
of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing
or defending against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject
as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective
target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement or a Business
Combination agreement (a “Target”); provided, however, that such indemnification
of the Company by the Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services
rendered (other than the Company’s independent public accountants) or products sold to the Company or a Target do not reduce
the amount of funds in the Trust Account to below (i) $10.00 per share of the Offering Shares or (ii) such lesser amount
per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the date of
the liquidation of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account which
may be withdrawn to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all
rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. In the event that any such executed
waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the extent of any liability
for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of its choice reasonably
satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor, the Sponsor notifies
the Company in writing that it shall undertake such defense.

 

     

     

    

  

5. To the extent that the Underwriters
do not exercise their over-allotment option to purchase up to an additional 900,000 Units within 45 days from the date of the Prospectus
(and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate
equal to 225,000 multiplied by a fraction, (i) the numerator of which is 900,000 minus the number of Units purchased by the
Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 900,000.

 

6. (a) The Sponsor and each Insider
hereby agree not to become an officer or director of any other special purpose acquisition company with a class of securities registered
under the Securities Exchange Act of 1934, as amended, until the Company has entered into a definitive agreement regarding an initial
Business Combination or unless the Company has failed to complete a Business Combination within the time period set forth in the
Charter.

 

(b) The Sponsor and each Insider
hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach
by such Sponsor or an Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 6(a), 7(a), 7(b), and 9, as applicable,
of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party
shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event
of such breach.

 

7. (a) The Sponsor and each Insider
agrees that it, he or she shall not Transfer any Founder Shares (or Ordinary Shares issuable upon conversion thereof) until the
earlier of (A) six months after the completion of the Company’s initial Business Combination or (B) subsequent
to the Business Combination, (x) if the last sale price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted
for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company
completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the
Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property (the “Founder
Shares Lock-up Period”).

 

(b) The Sponsor and each Insider
agrees that it, he or she shall not Transfer any Private Placement Units, Private Placement Shares, Private Placement Warrants
(or Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants) or Private Placement Rights (or Ordinary
Shares issued or issuable upon the conversion of the Private Placement Rights), until 30 days after the completion of a Business
Combination (the “Private Placement Units Lock-up Period”, together with the Founder Shares Lock-up Period,
the “Lock-up Periods”).

 

(c) Notwithstanding the provisions
set forth in Sections 7(a) and (b), Transfers of the Founder Shares, Private Placement Units, Private Placement Shares, Private
Placement Warrants, Private Placement Rights and Ordinary Shares issued or issuable upon the exercise or conversion of the Private
Placement Warrants, Private Placement Rights or the Founder Shares that are held by the Sponsor, any Insider or any of their permitted
transferees (that have complied with this Section 7(c)), are permitted (a) to the Company’s officers or directors, any
affiliates or family members of any of the Company’s officers or directors, any members of the Sponsor, or any affiliates
of the Sponsor; (b) in the case of an individual, transfers by gift to a member of the individual’s immediate family,
to a trust, the beneficiary of which is a member of the individual’s immediate family or an affiliate of such person, or
to a charitable organization; (c) in the case of an individual, transfers by virtue of laws of descent and distribution upon
death of the individual; (d) in the case of an individual, transfers pursuant to a qualified domestic relations order; (e) transfers
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) transfers in the event of the Company’s liquidation prior
to the completion of an initial Business Combination; (g) transfers by virtue of the laws of Singapore or the Sponsor’s
organizational documents upon dissolution of the Sponsor; (h) in the event of the Company’s liquidation, merger, capital
stock exchange, reorganization or other similar transaction which results in all of the Company’s shareholders having the
right to exchange their Ordinary Shares for cash, securities or other property subsequent to the completion of the Company’s
initial Business Combination; and (i) transfers in connection with the Company’s initial Business Combination with the Company’s
consent to any third party; provided, however, that in the case of clauses (a) through (e), (h) and (i), these permitted transferees
must enter into a written agreement agreeing to be bound by the restrictions herein. 

 

     

     

    

 

8. The Sponsor and each Insider represents
and warrants that:

 

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

 

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

 

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

 

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

 

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

 

(f) He, she, or it has never been the subject of any
order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending
or otherwise limiting for more than 60 days his, her or its right to engage in any activity described in 8(e)(i) above, or to be
associated with persons engaged in any such activity;

 

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

 

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

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

(n) He, she or it has never been subject to any order
of the SEC or any foreign regulatory agency with similar functions that orders him to cease and desist from committing or causing
a future violation of: (i) any scienter-based anti-fraud provision of the foreign or federal securities laws, including, but not
limited to, Section 17(a)(1) of the Securities Act, Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and Rule 10b-5 thereunder, and Section 206(1) of the Investment Advisers Act of 1940, as amended (the “Advisers
Act”), or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

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

 

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

 

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

 

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

 

     

     

    

 

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

 

9. Except as disclosed in the Prospectus,
neither the Sponsor nor any Insider nor any affiliate of the Sponsor or any Insider, nor any director or officer of the Company,
shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan
or other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is), other than the amounts described in the Prospectus
under the heading “Summary – The Offering – Limited Payments to Insiders.”

 

10. The Sponsor and each Insider has
full right and power, without violating any agreement to which it is bound (including, without limitation, any non-competition or non-solicitation agreement
with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director
on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer and/or director of
the Company.

 

11. As used herein, (i) “Business
Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses; (ii) “Shares” shall mean, collectively,
the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall mean (a) the 1,725,000
of the Company’s Class B ordinary shares, par value $0.001 per share, initially issued to the Sponsor (up to 225,000 Shares
of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised by the Underwriters)
of the Company’s Class B ordinary shares, par value $0.001 per share, for an aggregate purchase price of $25,000, or
$0.0145 per share, prior to the consummation of the Public Offering; (iv) “Initial Shareholders”
shall mean the Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Shares” shall
mean the Ordinary Shares included within the Private Placement Units; (vi) “Private Placement Units”
shall mean an aggregate of 232,500 Units (or 250,500 Units if the over-allotment option is exercised in full) which the Sponsor
has agreed to purchase for an aggregate purchase price of $2,325,000 (or $2,505,000 if the over-allotment option is exercised in
full), or $10.00 per Unit, in a private placement that shall occur simultaneously with the consummation of the Public Offering;
(vii) “Private Placement Rights” shall mean the Rights included within the Private Placement Units; (viii)
 “Private Placement Warrants” shall mean the Warrants included within the Private Placement Units; (ix) “Public
Shareholders” shall mean the holders of securities issued in the Public Offering; (x) “Trust Account”
shall mean the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited; (xi) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase
or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position
or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to,
any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash
or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b);
and (xii) “Charter” shall mean the Company’s memorandum and articles of association, as the same
may be amended from time to time.

 

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

 

13. No party hereto may assign either
this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other
party. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate to transfer or
assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider
and their respective successors, heirs and assigns and permitted transferees.

 

     

     

    

 

14. Nothing in this Letter Agreement shall
be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under
or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants, conditions,
stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties
hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

 

15. This Letter Agreement may be executed
in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to be an original,
and all such counterparts shall together constitute but one and the same instrument.

 

16. This Letter Agreement shall be deemed
severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability
of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term
or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in
terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

17. This Letter Agreement shall be
governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts
of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (i) all
agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought
and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which
jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such
courts represent an inconvenient forum.

 

18. Any notice, consent or request
to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent by
express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile transmission.

 

19. This Letter Agreement shall terminate
on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided,
however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed
by June 30, 2020; provided further that Section 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

     

     

    

  

	 	Sincerely,    
	 	 
	 	LF INTERNATIONAL PTE. LTD.
	 	 
	 	By:	/s/ Yubao Li
	 	 	Name: Yubao Li
	 	 	Title: Managing Member
	 	 
	 	 	/s/ Yubao Li
	 	 	Yubao Li
	 	 	 
	 	 	/s/ Andrey Novikov
	 	 	Andrey Novikov
	 	 	 
	 	 	/s/ Patrick Orlando
	 	 	Patrick Orlando
	 	 	 
	 	 	/s/ Biqin Shao
	 	 	Biqin Shao
	 	 	 
	 	 	/s/ Hao Yang
	 	 	Hao Yang
	 	 	 
	 	 	/s/ Seydou Bouda
	 	 	Seydou Bouda

 

 

	Acknowledged and Agreed: 	 
	 	 
	Yunhong International 	 
	 	 
	/s/ Patrick Orlando	 
	Name:	Patrick Orlando	 
	Title:	Chief Executive Officer	 

 

[Signature Page to Letter Agreement]Exhibit 10.4

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT (this “Agreement”)
is made as of this February 12, 2020, by and between Yunhong International, a Cayman Islands exempted company (the “Company”),
having its principal place of business at 4 – 19/F, 126 Zhong Bei, Wuchang District, Wuhan City, Hubei Province, People’s
Republic of China 430061, and LF International Pte. Ltd., a Republic of Singapore company (the “Purchaser”).

 

WHEREAS, the Company desires to sell on a
private placement basis (the “Offering”) an aggregate of up to 232,500 units (the “Initial
Units”) of the Company, and up to an additional 18,000 Units (“Additional Units” and together
with the Initial Units, the “Units”) of the Company in the event that the underwriters’ 45-day
over-allotment option (“Over-Allotment Option”) in the Offering is exercised in full or part, each Unit
comprised of one Class A ordinary share of the Company, par value $0.001 per share (the “Ordinary Shares”),
one-half of one warrant (each whole warrant, a “Warrant”), and one right (the “Right”),
for a purchase price of $10.00 per Unit. Each whole Warrant entitles the holder thereof to purchase one Class A ordinary share
(the “Warrant Shares”) to be governed by the Warrant Agreement (defined herein). Each Right entitles
the holder thereof to receive one-tenth (1/10) of one Class A Ordinary Share (the “Right Shares”) to
be governed by the Rights Agreement (defined herein).

 

WHEREAS, the Purchaser desires to purchase
the 232,500 Initial Units and up to 18,000 Additional Units 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 Purchaser hereby agree as follows:

 

1. Agreement to Subscribe

 

1.1. Purchase and Issuance of the
Units. For the aggregate sum of $2,325,000 (the “Initial Purchase Price”), upon the terms and subject
to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to
sell to the Purchaser, on the Closing Date (as defined in Section 1.2) 232,500 Initial Units at $10.00 per Initial Unit.

 

In addition to the foregoing, the Purchaser
hereby agrees to purchase up to an additional 18,000 Additional Units at $10.00 per Additional Unit for a purchase price of up
to $180,000 (the “Additional Purchase Price” and together with the Initial Purchase Price, the “Purchase
Price”). The purchase and issuance of the Additional Units shall occur only in the event that the Over-Allotment
Option is exercised in full or part. The total number of Additional 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 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 Units shall take place at the offices of Ellenoff Grossman & Schole LLP, 1345 Avenue of
the Americas, New York, New York, 10105 simultaneously with the consummation of the Company’s initial public offering (“IPO”)
of 6,000,000 units consisting of Ordinary Shares, Warrants and Rights and the purchase and sale of the Additional 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.
The Initial Purchase Price is currently held in an account at American Stock Transfer & Trust Company, LLC (“AST”).
At least one business day prior to the effective date of the Company’s registration statement relating to the IPO (“Registration
Statement”), or the date of the exercise of the Over-Allotment Option, if any, the Purchaser agrees to deliver 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 AST, 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 AST 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 AST, the Initial Purchase Price shall
be returned to the Purchaser 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 Purchaser shall become
irrevocably entitled to receive a unit certificate representing the Units purchased hereunder. 

 

2. Representations and Warranties
of the Purchaser

 

The Purchaser represents and warrants 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 Units, the Warrants, the Warrant Shares, the Rights,
the Right Shares or the Ordinary Shares underlying the Units (excluding the Warrant Shares and the Right Shares, the “Unit
Shares” and, collectively with the Units, the Warrant Shares and the Right Shares, the “Securities”).

 

2.2. Organization.  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.

 

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.

 

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 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 the 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 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 Units, the Shares, the Warrants and the 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 his 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. 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 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.

 

3. Representations and Warranties
of the Company

 

The Company represents and warrants to
the 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) 47,000,000 Ordinary Shares, (ii)
2,000,000 Class B ordinary shares, and (iii) 1,000,000 undesignated preference shares. As of the date hereof, the Company has issued
1,725,000 Class B ordinary shares (of which up to 225,000 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 AST
on or prior to the closing of the IPO (“Warrant Agreement”), the rights agreement to be entered
into with AST 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 Warrants, Rights and the Ordinary Shares
will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units, the Warrant Shares and the
Right Shares shall have been reserved for issuance. Upon issuance in accordance with the terms hereof, the Warrant Agreement and
the Amended and Restated Memorandum and Articles of Association of the Company, the Purchaser 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 Purchaser
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) transfer restrictions hereunder and pursuant to the insider letter to be entered into on or prior to the closing of the IPO
(the “Insider Letter”) 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 Warrants and 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 Units, the Warrants,
the Rights, or the Ordinary Shares underlying the Units, Warrants or Rights in accordance with the terms hereof.

  

4. Legends

 

4.1. Legend. The Company will
issue the Units, the Warrants, the Rights and the Unit Shares, and when issued, the Warrant Shares and the Right Shares, purchased
by the Purchaser, in the name of the Purchaser. 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 YUNHONG INTERNATIONAL AND LF INTERNATIONAL PTE. LTD. 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. Purchaser’s Compliance.
Nothing in this Section 4 shall affect in any way the Purchaser’s 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
Purchaser will be entitled to certain registration rights 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 Purchaser acknowledges and agrees that
the Units, the Warrants, the Rights, the Unit Shares, the Warrant Shares and the Right Shares 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 to permitted transferees (as defined in the Insider Letter).

 

6. Securities Laws Restrictions

 

The Purchaser agrees 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 Purchaser hereby waives 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
Purchaser understands and acknowledges that an exemption from the registration requirements of the Securities Act requires there
be no general solicitation of purchasers of the Units. In this regard, if the Offering were deemed to be a general solicitation
with respect to the Units, the offer and sale of such Units may not be exempt from registration and, if not, the Purchaser may
have a right to rescind its purchase of the 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 Purchaser hereby agrees 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 Units as a result of the issuance of the Units
being deemed to be in violation of Section 5 of the Securities Act. The Purchaser acknowledges and agrees this waiver is being
made in order to induce the Company to sell the Units to the Purchaser. The Purchaser agrees 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 Units hereunder or relating to the purchase of the
Units and the transactions contemplated hereby.

 

     

     

    

 

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

 

8.3. Section 8 Waiver. The
Purchaser agrees that to the extent any waiver of rights under this Section 8 is ineffective as a matter of law, the Purchaser
has 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 Purchaser acknowledges the receipt and sufficiency of consideration received from the
Company hereunder in this regard.

 

9. Terms of the Unit

 

The Units shall be substantially identical
to the Units offered in the IPO as set forth in the Underwriting Agreement, except the 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 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 Purchaser, 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.

 

	 	YUNHONG INTERNATIONAL
	 	 	 
	 	By:	/s/ Patrick Orlando
	 	Name:	Patrick Orlando
	 	Title:	Chief Executive Officer

 

Accepted and agreed this

February 12, 2020

 

LF INTERNATIONAL PTE. LTD. 

 

	By:	 /s/ Yubao Li	 
	Name:	 Yubao Li	 
	Title:	Managing Member 	 

 

[Signature Page for
Unit Subscription Agreement]

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