Document:

Exhibit 10.6

 

UNIT SUBSCRIPTION AGREEMENT

 

This UNIT SUBSCRIPTION AGREEMENT (this “Agreement”)
is made as of this [__] day of [________], 2021, by and between Nocturne Acquisition Corporation, a Cayman Islands exempted
company (the “Company”), having its principal place of business 7244 Carrizo Drive, La Jolla, CA 92037,
and Nocturne Sponsor LLC (the “Purchaser”).

 

WHEREAS, the Company desires to sell on a
private placement basis (the “Offering”) an aggregate of 350,000 units (the “Initial Units”)
of the Company, each Initial Unit comprised of one ordinary share of the Company, par value $0.0001 per share (the “Ordinary
Shares”) and one right (the “Right”) to be governed by the Rights Agreement (defined herein),
for a purchase price of $3,500,000, or $10.00 per Initial Unit, and up to 30,000 units (“Additional Units”
and together with the Initial Units, the “Units”), each Additional Unit comprised of one Ordinary Share
and one Right, for a purchase price of $300,000, or $10.00 per Additional Unit. Each Right entitles the holder thereof to receive
one-tenth (1/10) of one Ordinary Share (the “Right Shares”) upon the consummation of an initial business
combination.

 

WHEREAS, the Purchaser
desires to purchase the Initial 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
Initial Units. For the aggregate sum of $3,500,000 (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) 350,000 Initial Units at $10.00 per Initial Unit.

 

In addition to the foregoing, the Purchaser
hereby agrees to purchase up to an additional 30,000 Additional Units at $10.00 per Additional Unit for a purchase price of $300,000
(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 underwriters’
45-day over-allotment option (“Over-Allotment Option”) in the Offering 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 (the
“Closing”) of the Offering 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 10,000,000 Units and 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 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 Continental Stock Transfer & Trust Company, a New York corporation
(“CST”), 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 CST 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 CST, 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 Rights, the Right Shares or the Ordinary
Shares underlying the Units (excluding the Right Shares, the “Unit Shares” and, collectively with the
Units and the Right Shares, the “Securities”).

 

2.2. Organization.  It
is a company, validly existing and in good standing under the laws of its jurisdiction 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.

 

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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 Ordinary Shares 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) 500,000,000 Ordinary Shares and
(ii) 5,000,000 undesignated preference shares. As of the date hereof, the Company has issued 2,875,000 Ordinary Shares (of which
375,000 Ordinary Shares are subject to forfeiture as described in the registration statement related to the IPO) and no preferred
shares are issued and outstanding. All of the issued share capital of the Company has been duly authorized, validly issued, and
are fully paid and non-assessable.

  

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3.2. Title to Securities. Upon
issuance in accordance with, and payment pursuant to, the terms hereof and the rights agreement to be entered into with CST 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 applicable), as the case may be, each of the Rights and the Ordinary Shares will be
duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units and the Right Shares shall have been
reserved for issuance. Upon issuance in accordance with the terms hereof the Rights Agreement, 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 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 Rights or
the Ordinary Shares underlying the Units or Rights in accordance with the terms hereof.

 

4. Legends

 

4.1. Legend. The Company will
issue the Units, the Rights and the Unit Shares, and when issued, 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 NOCTURNE ACQUISITION CORPORATION AND NOCTURNE SPONSOR, LLC AND MAY ONLY BE OFFERED, SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH THEREIN.”

 

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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 Rights, the Unit 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.

 

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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.

 

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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]

 

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

 

	 	NOCTURNE ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	Name:	 Henry Monzon
	 	Title:	 Chief Executive Officer

   

Accepted and agreed this

[__] day of [_______], 2021

 

NOCTURNE SPONSOR, LLC

 

	By:	 	 
	Name: 	 Henry Monzon	 
	Title:	 Managing Member	 

 

 

8Exhibit
10.7

 

FORM
OF INDEMNITY AGREEMENT

 

THIS
INDEMNITY AGREEMENT (this “Agreement”) is made on February [ ], 2021.

 

Between:

 

	(1)	Nocturne
    Acquisition Corporation, a Cayman Islands exempted company with its registered office at PO Box 309, Ugland House, Grand
    Cayman KY10-1104, Cayman Islands (the “Company”); and

 

	(2)	_____________
    (“Indemnitee”).

 

Whereas:

 

	(A)	Highly
    competent persons have become more reluctant to serve publicly-held companies as directors, officers or in other capacities
    unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of
    claims and actions against them arising out of their service to and activities on behalf of such companies;

 

	(B)	The
    board of directors of the Company (the “Board”) has determined that, in order to attract and retain
    qualified individuals, the Company will use commercially reasonable efforts to maintain on an ongoing basis, at its sole
    expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although
    the furnishing of such insurance has been a customary and widespread practice among publicly traded companies and other
    business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available
    to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers and other persons
    in service to companies or business enterprises are being increasingly subjected to expensive and time-consuming litigation
    relating to, among other things, matters that traditionally would have been brought only against the Company or business
    enterprise itself. The amended and restated memorandum and articles of association of the Company (the
    “Articles”) provide for the indemnification of the officers and directors of the Company. Indemnitee may
    also be entitled to indemnification pursuant to applicable Cayman Islands law. The Articles expressly provide that the
    indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into
    between the Company and members of the Board, officers and other persons with respect to indemnification, hold harmless,
    exoneration, advancement and reimbursement rights;

 

	(C)	The
    uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining
    such persons;

 

	(D)	The
    Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
    of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty
    of such protection in the future;

 

	(E)	It
    is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate
    and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve
    or continue to serve the Company free from undue concern that they will not be so protected against liabilities;

 

	(F)	This
    Agreement is a supplement to and in furtherance of the Articles and any resolutions adopted pursuant thereto, and shall not
    be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

	(G)	Indemnitee
    may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the
    Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take
    on additional service for or on behalf of the Company on the condition that he be so indemnified; and

 

     

     

    

 

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement
dated as of October 15, 2020 between the Company and Indemnitee pursuant to the Underwriting Agreement between the Company and
the Underwriters in connection with the Company’s initial public offering, the Company and Indemnitee do hereby covenant
and agree as follows:

 

TERMS
AND CONDITIONS

 

	1	SERVICES
    TO THE COMPANY

 

Indemnitee
will serve or continue to serve as an officer, director, advisor, key employee or in any other capacity of the Company, as applicable,
for so long as Indemnitee is duly elected, appointed or retained or until Indemnitee tenders his resignation or until Indemnitee
is removed. The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased
to serve as a director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This
Agreement, however, shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the
Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any.

 

	2	DEFINITIONS

 

As
used in this Agreement:

 

	2.1	References
    to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
    of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
    as a director, officer, employee, advisor, fiduciary or other official of another company, corporation, partnership, limited
    liability company, joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the
    interests of the Company or a subsidiary of the Company.

  

	2.2	The
    terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth
    in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

  

	2.3	“Cayman
    Court” shall mean the Grand Court of the Cayman Islands.

 

	2.4	A
    “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
    of any of the following events:

 

	 	(a)	Acquisition
    of Shares by Third Party. Other than an affiliate of Nocturne Sponsor LLC, any Person (as defined below) is or becomes
    the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the
    combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of directors,
    unless (1) the change in the relative Beneficial Ownership of the Company’s securities by any Person results solely
    from a reduction in the aggregate number of outstanding shares entitled to vote generally in the election of directors, or
    (2) such acquisition was approved in advance by the Continuing Directors (as defined below) and such acquisition would
    not constitute a Change in Control under part (c) of this definition;

 

	 	(b)	Change
    in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose
    election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two
    thirds of the directors then still in office who were directors on the date hereof or whose election or nomination for election
    was previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute
    at least a majority of the members of the Board;

 

    2

     

    

 

	 	(c)	Corporate
    Transactions. The effective date of a merger, share exchange, asset acquisition, share purchase, reorganization
    or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
    in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities
    who were the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to
    such Business Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then
    outstanding securities of the Company entitled to vote generally in the election of directors resulting from such Business
    Combination (including, without limitation, a companywhich as a result of such transaction owns the Company or all or substantially
    all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions
    as their ownership immediately prior to such Business Combination, of the securities entitled to vote generally in the election
    of directors; (2) other than an affiliate of Nocturne Sponsor LLC, no Person (excluding any company resulting from such
    Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the
    then outstanding securities entitled to vote generally in the election of directors of the surviving company except to the
    extent that such ownership existed prior to the Business Combination; and (3) at least a majority of the Board resulting
    from such Business Combination were Continuing Directors at the time of the execution of the initial agreement, or of the
    action of the Board, providing for such Business Combination;

 

	 	(d)	Liquidation.
    The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
    for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring
    the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the Board to
    proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

	 	(e)	Other
    Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of
    Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange
    Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

	2.5	“Corporate
    Status” describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing
    member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or
    was serving at the request of the Company.

 

	2.6	“Disinterested
    Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below)
    in respect of which indemnification is sought by Indemnitee.

 

	2.7	“Enterprise”
    shall mean the Company and any other company, corporation, constituent company or corporation (including any constituent of
    a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party,
    limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee
    is or was serving at the request of the Company as a director, officer, trustee, general partner, manager, managing member,
    fiduciary, employee or agent.

 

	2.8	“Exchange
    Act” shall mean the United States Securities Exchange Act of 1934, as amended.

 

	2.9	“Expenses”
    shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without
    limitation,     all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts,
    witness fees, travel     expenses, fees of private investigators and professional advisors, duplicating costs, printing and
    binding costs, telephone     charges, postage, delivery service fees, fax transmission charges, secretarial services and all
    other disbursements, obligations     or expenses in connection with prosecuting, defending, preparing to prosecute or defend,
    investigating, being or preparing     to be a witness in, settlement or appeal of, or otherwise participating in, a
    Proceeding (as defined below), including reasonable     compensation for time spent by Indemnitee for which he or she is not
    otherwise compensated by the Company or any third party.     Expenses also shall include Expenses incurred in connection with
    any appeal resulting from any Proceeding (as defined below),     including without limitation the principal, premium,
    security for, and other costs relating to any cost bond, supersedeas bond,
or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or
the amount of judgments or fines against Indemnitee.

 

    3

     

    

 

	2.10	“Indemnity
    Obligations” shall mean all obligations of the Company to Indemnitee under this Agreement, including, without limitation,
    the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

 

	2.11	“Independent
    Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporate law
    and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in
    any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or
    of other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined
    below) giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent
    Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing,
    would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
    rights under this Agreement.

 

	2.12	References
    to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan;
    references to “serving at the request of the Company” shall include any service as a director, officer,
    employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee,
    agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in
    good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries
    of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests
    of the Company” as referred to in this Agreement.

 

	2.13	The
    term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange
    Act as in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company;
    (ii) any Subsidiaries (as defined below) of the Company; (iii) any employment benefit plan of the Company or of
    a Subsidiary (as defined below) of the Company or of any company or corporation owned, directly or indirectly, by the shareholders
    of the Company in substantially the same proportions as their ownership of share of the Company; and (iv) any trustee
    or other fiduciary holding securities under an employee benefit plan of the Company or of a Subsidiary (as defined below)
    of the Company or of a company or corporation owned directly or indirectly by the shareholders of the Company in substantially
    the same proportions as their ownership of share of the Company.

 

	2.14	The
    term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
    alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or
    completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional
    or unintentional tort claims), criminal, administrative, or investigative or related nature, in which Indemnitee was, is,
    will or might be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of
    the Company, by reason of any action (or failure to act) taken by him or of any action (or failure to act) on his part while
    acting as a director or officer of the Company, or by reason of the fact that he is or was serving at the request of the Company
    as a director,

officer,
trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether
or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or
advancement of expenses can be provided under this Agreement.

 

	2.15	The
    term “Subsidiary,” with respect to any Person, shall mean any company, corporation, limited liability company,
    partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities
    or equity interest is owned, directly or indirectly, by that Person.

 

    4

     

    

 

	3	INDEMNITY
    IN THIRD-PARTY PROCEEDINGS

 

To
the fullest extent permitted by applicable law and the Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee
in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made, a party to or a participant
(as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company to procure
a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee
shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and amounts
paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of
such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on
his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in
a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding,
had no reasonable cause to believe that his conduct was unlawful; provided, in no event shall Indemnitee be entitled to be indemnified,
held harmless or advanced any amounts hereunder in respect of any Expenses, judgments, liabilities, fines, penalties and amounts
paid in settlement (if any) that Indemnitee may incur by reason of his or her own actual fraud or intentional misconduct. Indemnitee
shall not be found to have committed actual fraud or intentional misconduct for any purpose of this Agreement unless or until
a court of competent jurisdiction shall have made a finding to that effect.

 

	4	INDEMNITY
    IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY

 

To
the fullest extent permitted by applicable law and the Articles, the Company shall indemnify, hold harmless and exonerate Indemnitee
in accordance with the provisions of this Section 4 if Indemnitee was, is, or is threatened to be made, a party to or a participant
(as a witness, deponent or otherwise) in any Proceeding by or in the right of the Company to procure a judgment in its favor by
reason of Indemnitee’s Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified, held
harmless and exonerated against all Expenses actually and reasonably incurred by him or on his behalf in connection with such
Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the Company. No indemnification, hold harmless or exoneration for Expenses
shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally
adjudged by a court of competent jurisdiction to be liable to the Company, unless and only to the extent that any court in which
the Proceeding was brought or the Cayman Court shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held
harmless or to exoneration. 

 

	5	INDEMNIFICATION
    FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL

 

Notwithstanding
any other provisions of this Agreement except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s
Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense
of any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law
and the Articles, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by him
in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted
by applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably
incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter. If Indemnitee is
not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by applicable law and the Articles,
indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a claim, issue or
matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section 5 and
without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

  

     

     

    

 

	6	INDEMNIFICATION
    FOR EXPENSES OF A WITNESS

 

Notwithstanding
any other provision of this Agreement except for Section 27, to the extent that Indemnitee is, by reason of his Corporate
Status, a witness or deponent in any Proceeding to which Indemnitee is not a party or threatened to be made a party, he shall,
to the fullest extent permitted by applicable law and the Articles, be indemnified, held harmless and exonerated against all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith.

  

	7	ADDITIONAL
    INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS

 

	7.1	Notwithstanding
    any limitation in Sections 3, 4, or 5, except for Section 27, the Company shall, to the fullest extent permitted by applicable
    law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made
    a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against
    all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges
    paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement)
    actually and reasonably incurred by Indemnitee in connection with the Proceeding. No indemnification, hold harmless
    or exoneration rights shall be available under this Section 7.1 on account of Indemnitee’s conduct which constitutes
    a breach of Indemnitee’s duty of loyalty to the Company or its shareholders or is an act or omission not in good faith
    or which involves intentional misconduct or a knowing violation of the law.

 

	7.2	Notwithstanding
    any limitation in Sections 3, 4, 5 or 7.1, except for Section 27, the Company shall, to the fullest extent permitted
    by applicable law and the Articles, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened
    to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its
    favor) against all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments
    and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts
    paid in settlement) actually and reasonably incurred by Indemnitee in connection with the Proceeding.

 

	8	CONTRIBUTION
    IN THE EVENT OF JOINT LIABILITY

 

	8.1	To
    the fullest extent permitted by applicable law and the Articles, if the indemnification, hold harmless and/or exoneration
    rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company,
    in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred
    by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses,
    in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives
    and relinquishes any right of contribution it may have at any time against Indemnitee.

 

	8.2	The
    Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
    be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against
    Indemnitee.

 

	8.3	The
    Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may
    be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

	9	EXCLUSIONS

 

Notwithstanding
any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification, advance
expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

     

     

    

 

	 	(a)	for
    which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
    provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement,
    other indemnity or advancement provision or otherwise;

 

	 	(b)	for
    an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
    within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law;
    or

 

	 	(c)	except
    as otherwise provided in Sections 14.5 and 14.6 hereof, prior to a Change in Control, in connection with any Proceeding
    (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated
    by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized
    the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification,
    hold harmless or exoneration payment, in its sole discretion, pursuant to the powers vested in the Company under applicable
    law. Indemnitee shall seek payments or advances from the Company only to the extent that such payments or advances are unavailable
    from any insurance policy of the Company covering Indemnitee.

  

	10	ADVANCES
    OF EXPENSES; DEFENSE OF CLAIM

 

	10.1	Notwithstanding
    any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited by applicable
    law or the Articles, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be
    incurred by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt
    by the Company of a statement or statements requesting such advances from time to time, prior to the final disposition of
    any Proceeding. Advances shall, to the fullest extent permitted by applicable law, be unsecured and interest free. Advances
    shall, to the fullest extent permitted by applicable law and the Articles, be made without regard to Indemnitee’s ability
    to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or exonerated
    under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing
    a Proceeding to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the
    Company to support the advances claimed. To the fullest extent required by applicable law and the Articles, such payments
    of Expenses in advance of the final disposition of the Proceeding shall be made only upon the Company’s receipt of an
    undertaking, by or on behalf of Indemnitee, to repay the advanced amounts to the extent that it is ultimately determined that
    Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Articles, applicable
    law or otherwise. If it shall be determined by a final judgement or other final adjudication that Indemnitee was not
    so entitled to indemnification, any advanced amount shall be returned to the Company (without interest) by the Indemnitee.
    This Section 10.1 shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration
    payment is excluded pursuant to Section 9.

 

	10.2	The
    Company will be entitled to participate in the Proceeding at its own expense.

 

	10.3	The
    Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
    penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

	11	PROCEDURE
    FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION

 

	11.1	Indemnitee
    agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
    information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless
    or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
    shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

     

     

    

 

	11.2	Indemnitee
    may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this
    Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems
    appropriate in his or her sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s
    entitlement to indemnification shall be determined according to Section 12.1 of this Agreement.

  

	12	PROCEDURE
    UPON APPLICATION FOR INDEMNIFICATION

 

	12.1	A
    determination, if required by applicable law and the Articles, with respect to Indemnitee’s entitlement to indemnification
    shall be made in the specific case by one of the following methods: (i) if no Change in Control has occurred, (x) by a majority
    vote of the Disinterested Directors, even though less than a quorum of the Board, (y) by a committee of Disinterested Directors,
    even though less than a quorum of the Board, or (z) if there are no Disinterested Directors, or if such Disinterested Directors
    so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or
    (ii) if a Change in Control has occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall
    be delivered to Indemnitee. The Company will promptly advise Indemnitee in writing with respect to any determination
    that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification
    has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall
    be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons
    or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing
    to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged
    or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.
    Any costs or Expenses (including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
    with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination
    as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify and to hold Indemnitee
    harmless therefrom.

 

	12.2	In
    the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1
    hereof, the Independent Counsel shall be selected as provided in this Section 12.2. The Independent Counsel shall
    be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall
    give written notice to the Company advising it of the identity of the Independent Counsel so selected and certifying that
    the Independent Counsel so selected meets the requirements of “Independent Counsel” as defined in Section 2
    of this Agreement. If the Independent Counsel is selected by the Board, the Company shall give written notice to Indemnitee
    advising him of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected
    meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. In either
    event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection
    shall have been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection;
    provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not
    meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection
    shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person
    so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent
    Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent
    jurisdiction has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee
    of a written request for indemnification pursuant to Section 11.2 hereof, no Independent Counsel shall have been selected
    and not objected to, either the Company or Indemnitee may petition the Cayman Court for resolution of any objection which
    shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment
    as Independent Counsel of a person selected by the Cayman Court, and the person with respect to whom all objections are so
    resolved or the person so appointed shall act as Independent Counsel under Section 12.1 hereof. Upon the due commencement
    of any judicial proceeding or arbitration pursuant to Section 14.1 of this Agreement, Independent Counsel shall
    be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional
    conduct then prevailing).

 

    6

     

    

 

	12.3	The
    Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such
    Independent Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement
    or its engagement pursuant hereto.

 

	13	PRESUMPTIONS
    AND EFFECT OF CERTAIN PROCEEDINGS

 

	13.1	In
    making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such
    determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted
    a request for indemnification in accordance with Section 11.2 of this Agreement, and the Company shall have the burden
    of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination
    contrary to that presumption. Neither the failure of the Company (including by its Disinterested Directors or Independent
    Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification
    is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination
    by the Company (including by its Disinterested Directors or Independent Counsel) that Indemnitee has not met such applicable
    standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard
    of conduct.

 

	13.2	If
    the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee
    is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of
    the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent permitted
    by applicable law and the Articles, be deemed to have been made and Indemnitee shall be entitled to such indemnification,
    absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
    statement not materially misleading, in connection with the request for indemnification, or (ii) a final judicial determination
    that any or all such indemnification is expressly prohibited under applicable law; provided, however, that such 30-day period
    may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the person, persons or entity making
    the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining
    or evaluating of documentation and/or information relating thereto.

 

	13.3	The
    termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
    a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
    adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith
    and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect
    to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

	13.4	For
    purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
    action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied
    to Indemnitee by the directors, managers, managing members, or officers of the Enterprise in the course of their duties, or
    on the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general
    partner, manager, or managing member or on information or records given or reports made to the Enterprise, its Board, any
    committee of the Board or any director, trustee, general partner, manager or managing member by an independent certified public
    accountant or by an appraiser or other expert selected by the Enterprise, its Board, any committee of the Board or any director,
    trustee, general partner, manager or managing member. The provisions of this Section 13.4 shall not be deemed to
    be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable
    standard of conduct set forth in this Agreement.

 

    7

     

    

 

	13.5	The
    knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
    agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
    under this Agreement.

 

	14	REMEDIES
    OF INDEMNITEE

 

	14.1	In
    the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled
    to indemnification under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable
    law and the Articles, is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement
    to indemnification shall have been made pursuant to Section 12.1 of this Agreement within thirty (30) days after receipt
    by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 5,
    6, 7 or the last sentence of Section 12.1 of this Agreement within ten (10) days after receipt by the Company of
    a written request therefor, (v) a contribution payment is not made in a timely manner pursuant to Section 8 of this
    Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made in accordance
    with this Agreement within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification,
    or (vii) payment to Indemnitee pursuant to any hold harmless or exoneration rights under this Agreement or otherwise
    is not made within ten (10) days after receipt by the Company of a written request therefor, Indemnitee shall be
    entitled to an adjudication by the Cayman Court to such indemnification, hold harmless, exoneration, contribution or advancement
    rights. Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single
    arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the American Arbitration Association.
    Except as set forth herein, the provisions of Cayman Islands law (without regard to its conflict of laws rules) shall apply
    to any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award
    in arbitration.

 

	14.2	In
    the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not
    entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted
    in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that
    adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee
    shall be presumed to be entitled to be indemnified, held harmless, exonerated to receive advances of Expenses under this Agreement
    and the Company shall have the burden of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and
    to receive advances of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any determination
    pursuant to Section 12.1 of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial
    proceeding or arbitration pursuant to this Section 14, Indemnitee shall not be required to reimburse the Company
    for any advances pursuant to Section 10 until a final determination is made with respect to Indemnitee’s entitlement
    to indemnification (as to which all rights of appeal have been exhausted or lapsed).

 

	14.3	If
    a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to indemnification,
    the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
    absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
    statement not materially misleading, in connection
with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

	14.4	The
    Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14
    that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such
    court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

    8

     

    

 

	14.5	The
    Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by applicable law and the Articles against
    all Expenses and, if requested by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written
    request) pay to Indemnitee, to the fullest extent permitted by applicable law and the Articles, such Expenses which are incurred
    by Indemnitee in connection with any judicial proceeding or arbitration brought by Indemnitee (i) to enforce his rights
    under, or to recover damages for breach of, this Agreement or any other indemnification, hold harmless, exoneration, advancement
    or contribution agreement or provision of the Articles now or hereafter in effect; or (ii) for recovery or advances under
    any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and whether Indemnitee
    ultimately is determined to be entitled to such indemnification, hold harmless or exoneration right, advancement, contribution
    or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee in
    good faith).

 

	14.6	Interest
    shall be paid by the Company to Indemnitee at the legal rate under New York law for amounts which the Company indemnifies,
    holds harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period commencing with the date
    on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement
    of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

	15	SECURITY

 

Notwithstanding
anything herein to the contrary except for Section 27, to the extent requested by Indemnitee and approved by the Board, the
Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through
an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may
not be revoked or released without the prior written consent of Indemnitee.

 

	16	NON-EXCLUSIVITY;
    SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION

 

	16.1	The
    rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may
    at any time be entitled under applicable law, the Articles, any agreement, a vote of shareholders or a resolution of directors,
    or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict
    any right of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened,
    commenced or completed)
arising out of, or related to, any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment,
alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits greater
indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under the Articles
or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically be deemed to be
amended to require that the Company indemnifies Indemnitee to the fullest extent permitted by law. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment
of any other right or remedy.

 

	16.2	The
    Companies Law (2020 Revision) of the Cayman Islands and the Articles permit the Company to purchase and maintain insurance
    or furnish similar protection or make other arrangements including, but not limited to, providing a trust fund, letter of
    credit, or surety bond (“Indemnification Arrangements”) on behalf of Indemnitee against any liability asserted
    against him or incurred by or on behalf of him or in such capacity as a director, officer, employee or agent of the Company,
    or arising out of his status as such, whether or not the Company would have the power to indemnify him against such liability
    under the provisions of this Agreement or under the Companies Law (2020 Revision) of the Cayman Islands, as it may then be
    in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall not in any way
    limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided
    herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect
    the rights and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement.

 

    9

     

    

 

	16.3	To
    the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
    trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise
    which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
    with its or their terms to the maximum extent of the coverage available for any such director, officer, trustee, partner,
    manager, managing member, fiduciary, employee or agent under such policy or policies. If, at the time the Company receives
    notice from any source of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise),
    the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding
    to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
    take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
    of such Proceeding in accordance with the terms of such policies.

 

	16.4	In
    the event of any payment under this Agreement, the Company, to the fullest extent permitted by applicable law and the Articles,
    shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers
    required and take all action necessary to secure such rights, including execution of such documents as are necessary
    to enable the Company to bring suit to enforce such rights. No such payment by the Company shall be deemed to relive any insurer
    of its obligations.

 

	16.5	The
    Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was
    serving at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
    or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold
    harmless or exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any other provision
    of this Agreement to the contrary except for Section 27, (i) Indemnitee shall have no obligation to reduce, offset,
    allocate, pursue or apportion any indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage
    among multiple parties possessing such duties to Indemnitee prior to the Company’s satisfaction and performance of all
    its obligations under this Agreement, and (ii) the Company shall perform fully its obligations under this Agreement without
    regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold harmless, exoneration,
    contribution or insurance coverage rights against any person or entity other than the Company.

 

	16.6	The
    Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement of Expenses and/or insurance
    provided by one or more Persons with whom or which Indemnitee may be associated. The Company hereby acknowledges and agrees
    that (i) the Company shall be the indemnitor of first resort with respect to any Proceeding, Expense, liability or matter
    that is the subject of the Indemnity Obligations, (ii) the Company shall be primarily liable for all Indemnity Obligations
    and any indemnification afforded to Indemnitee in respect of any Proceeding, Expense, liability or matter that is the subject
    of Indemnity Obligations, whether created by law, organizational or constituent documents, contract (including, without limitation,
    this Agreement) or otherwise, (iii) any obligation of any other Persons with whom or which Indemnitee may be associated to
    indemnify Indemnitee and/or advance Expenses to Indemnitee in respect of any proceeding shall be secondary to the obligations
    of the Company hereunder, (iv) the Company shall be required to indemnify Indemnitee and advance Expenses to Indemnitee hereunder
    to the fullest extent provided herein without regard to any rights Indemnitee may have against any other Person with whom
    or which Indemnitee may be associated or insurer of any such Person and (v) the Company irrevocably waives, relinquishes and
    releases any other Person with whom or which Indemnitee may be associated from any claim of contribution, subrogation or any
    other recovery of any kind in respect of amounts paid by the Company hereunder. In the event that any other Person with whom
    or which Indemnitee may be associated or their insurers advances or extinguishes any liability or loss which is the subject
    of any Indemnity Obligation owed by the Company or payable under any insurance policy provided under this Agreement, the payor
    shall have a right of subrogation against the Company or its insurer or insurers for all amounts so paid which would otherwise
    be payable by the Company or its insurer or insurers under this Agreement. In no event will payment of an Indemnity Obligation
    of the Company under this Agreement by any other Person with whom or which Indemnitee may be associated or their insurers,
    affect the obligations of the Company hereunder or shift primary liability for any Indemnity Obligation to any other Person
    with whom or which Indemnitee may be associated. Any indemnification and/or insurance or advancement of Expenses provided
    by any other Person with whom or which Indemnitee may be associated, with respect to any liability arising as a result of
    Indemnitee’s Corporate Status or capacity as an officer or director of any Person, is specifically in excess of any
    Indemnity Obligation of the Company or valid and any collectible insurance (including, without limitation, any malpractice
    insurance or professional errors and omissions insurance) provided by the Company under this Agreement, and any obligation
    to provide indemnification and/or insurance or advance Expenses provided by any other Person with whom or which Indemnitee
    may be associated shall be reduced by any amount that Indemnitee collects from the Company as an indemnification payment or
    advancement of Expenses pursuant to this Agreement.

 

    10

     

    

 

	17	DURATION
    OF AGREEMENT

 

All
agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves as a director or
officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of
any other company, corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee
serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding
(including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement)
by reason of his Corporate Status, whether or not he is acting in any such capacity at the time any liability or expense is incurred
for which indemnification or advancement can be provided under this Agreement.

 

	18	SEVERABILITY

 

If
any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and
shall remain enforceable to the fullest extent permitted by applicable law (and the Articles); (b) such provision or provisions
shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of
the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation,
each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal
or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
manifested thereby.

 

	19	ENFORCEMENT
    AND BINDING EFFECT

 

	19.1	The
    Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
    in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges
    that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

	19.2	Without
    limiting any of the rights of Indemnitee under the Articles as they may be amended from time to time, this Agreement constitutes
    the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements
    and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

	19.3	The
    indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
    shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any
    direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or
    assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of
    the Company or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any
    other Enterprise at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns,
    heirs, devisees, executors and administrators and other legal representatives.

 

    11

     

    

 

	19.4	The
    Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
    to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form
    and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to
    the same extent that the Company would be required to perform if no such succession had taken place.

 

	19.5	The
    Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
    impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly,
    the parties hereto agree that Indemnitee may, to the fullest extent permitted by applicable law and the Articles, enforce
    this Agreement by seeking, among other things, injunctive relief and/or specific performance hereof, without any necessity
    of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee
    shall not be precluded from seeking or obtaining any other relief to which he may be entitled. The Company and Indemnitee
    further agree that Indemnitee shall to the fullest extent permitted by applicable law (and the Articles) be entitled to such
    specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent
    injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges
    that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a Court of competent jurisdiction
    and the Company hereby waives any such requirement of such a bond or undertaking to the fullest extent permitted by applicable
    law and the Articles.

 

	20	MODIFICATION
    AND WAIVER

 

No
supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the Company and Indemnitee.
No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this
Agreement nor shall any waiver constitute a continuing waiver.

 

	21	NOTICES

 

All
notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have
been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after
the date on which it is so mailed:

 

	 	(a)	If
    to Indemnitee, at the address indicated on the signature page of this Agreement or such other address as Indemnitee shall
    provide in writing to the Company.

 

	 	(b)	If
    to the Company, to:

 

Nocturne
Acquisition Corporation

7244
Carrizo Drive

La
Jolla, CA 92037

Attn: Henry Monzon

 

With
a copy, which shall not constitute notice, to:

 

Ellenoff
Grossman & Schole LLP

1345
Avenue of the Americas, 11th Floor

New
York, New York 10105

Attn:
Stuart Neuhauser, Esq. 

 

or
to any other address as may have been furnished to Indemnitee in writing by the Company.

 

    12

     

    

 

	22	APPLICABLE
    LAW AND CONSENT TO JURISDICTION

 

This
Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws
of the State of New York. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14.1 of this
Agreement, to the fullest extent permitted by law the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree
that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Courts of the State
of New York and not in any other state or federal court in the United States of America or any court in any other country; (b) consent
to submit to the exclusive jurisdiction of the Courts of the State of New York for purposes of any action or proceeding arising
out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding
in the Courts of the State of New York; and (d) waive, and agree not to plead or to make, any claim that any such action
or proceeding brought in the Courts of the State of New York has been brought in an improper or inconvenient forum, or is subject
(in whole or in part) to a jury trial. To the fullest extent permitted by law, the parties hereby agree that the mailing of process
and other papers in connection with any such action or proceeding in the manner provided by Section 21 or such other manner as
may be permitted by law, shall be valid and sufficient service thereof.

 

	23	IDENTICAL
    COUNTERPARTS

 

This
Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all
of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

	24	MISCELLANEOUS

 

Use
of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction thereof.

 

	25	PERIOD
    OF LIMITATIONS

 

No
legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s
spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such
cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by
the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations
is otherwise applicable to any such cause of action such shorter period shall govern.

 

	26	ADDITIONAL
    ACTS

 

If
for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure is required, to
the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure to be affected
or adopted in a manner that will enable the Company to fulfil its obligations under this Agreement.

 

	27	WAIVER
    OF CLAIMS TO TRUST ACCOUNT

 

Indemnitee
hereby agrees that it does not have any right, title, interest or claim of any kind (each, a “Claim”) in or
to any monies in the trust account established in connection with the Company’s initial public offering for the benefit
of the Company and holders of shares issued in such offering, and hereby waives any Claim it may have in the future as a result
of, or arising out of, any services provided to the Company and will not seek recourse against such trust account for any reason
whatsoever. Accordingly, Indemnitee acknowledges and agrees that any indemnification provided hereto will only be able to be satisfied
by the Company if (i) the Company has sufficient funds outside of the Trust Account to satisfy its obligations hereunder or (ii)
the Company consummated a Business Combination.

 

    13

     

    

 

	28.	MAINTENANCE
    OF INSURANCE

 

The
Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company
is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies
to provide the officers/directors of the Company with coverage for losses from wrongful acts and omissions and to ensure the Company’s
performance of its indemnification obligations under this Agreement. The Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any such director or officer under such
policy or policies. In all such insurance policies, the Indemnitee shall be named as an insured in such a manner as to provide
the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company’s directors
and officers.

 

	29.	INTERPRETATION

 

In
this Agreement:

 

	 	(a)	words
    importing the singular number include the plural number and vice versa; words importing the masculine gender include the feminine
    gender;

 

	 	(b)	“written”
    and “in writing” include all modes of representing or reproducing words in visible form, including in the form
    of an Electronic Record;

 

	 	(c)	“shall”
    shall be construed as imperative and “may” shall be construed as permissive;

 

	 	(d)	references
    to provisions of any law or regulation shall be construed as references to those provisions as amended, modified, re-enacted
    or replaced;

 

	 	(e)	any
    phrase introduced by the terms “including”, “include”, “in particular” or any similar
    expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms;

 

	 	(f)	the
    term “and/or” is used herein to mean both “and” as well as “or. “ The use of “and/or”
    in certain contexts in no respects qualifies or modifies the use of the terms “and” or “or” in others.
    The term “or” shall not be interpreted to be exclusive and the term “and” shall not be interpreted
    to require the conjunctive (in each case, unless the context otherwise requires);

 

	 	(g)	headings
    are inserted for reference only and shall be ignored in construing this Agreement;

 

	 	(h)	any
    requirements as to delivery under this Agreement include delivery in the form of an electronic record (as defined in the Electronic
    Transactions Law (2003));

 

	 	(i)	any
    requirements as to execution or signature under this Agreement including the execution of this Agreement itself can be satisfied
    in the form of an electronic signature (as defined in the Electronic Transactions Law (2003 Revision));

 

	 	(j)	sections
    8 and 19(3) of the Electronic Transactions Law (2003 Revision) shall not apply.

 

 

[SIGNATURE
PAGE FOLLOWS]

  

    14

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Indemnity Agreement to be signed on the day and year first above written.

 

	 	Nocturne
    acquisition corporation
	 	 
	 	By:	 
	 	 	Name:	Henry
    Monzon
	 	 	Title:	Chairman
    and Chief Executive Officer
	 	 	 
	 	 	 
	 	 	INDEMNITEE
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	 
	 	 	Address:

 

 

[Signature
Page to Indemnity Agreement]

 

    15

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