Document:

Exhibit
4.7

  

THE REGISTERED HOLDER OF THIS PURCHASE OPTION
BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN PROVIDED AND THE REGISTERED
HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION OR CAUSE IT
TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION
OF THE PURCHASE OPTION BY ANY PERSON FOR A PERIOD OF ONE YEAR (INCLUDING THE ONE HUNDRED EIGHTY DAY PERIOD REQUIRED BY FINRA RULE 5110(E)(1))
FOLLOWING THE EFFECTIVE DATE (AS DEFINED HEREIN) TO ANYONE OTHER THAN TO (I) MAXIM GROUP LLC (“MAXIM”) OR AN UNDERWRITER
OR SELECTED DEALER PARTICIPATING IN THE OFFERING OR (II) AN OFFICER OR PARTNER, REGISTERED PERSON OR AFFILIATE OF MAXIM OR OF ANY SUCH
UNDERWRITER OR SELECTED DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(E) (2).

 

THIS
PURCHASE OPTION IS EXERCISABLE COMMENCING ON THE LATER OF THE FIRST ANNIVERSARY OF THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT
OF GOLDENSTONE ACQUISITION LIMITED (“COMPANY”) AND THE CONSUMMATION OF AN INITIAL BUSINESS COMBINATION AS
DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT (DEFINED HEREIN))] AND [●]1. VOID AFTER 5:00
P.M. NEW YORK CITY LOCAL TIME, ON THE EARLIER OF THE LIQUIDATION OF THE COMPANY’S TRUST ACCOUNT (AS DESCRIBED IN THE
REGISTRATION STATEMENT) IF THE COMPANY HAS NOT COMPLETED A MERGER, SHARE EXCHANGE, ASSET ACQUISITION, RECAPITALIZATION,
REORGANIZATION OR OTHER SIMILAR BUSINESS COMBINATION (“BUSINESS COMBINATION”) WITHIN THE REQUIRED TIME PERIODS OR
[●]2.

 

UNIT
PURCHASE OPTION FOR THE PURCHASE OF UP TO 270,250 UNITS OF GOLDENSTONE

 ACQUISITION LIMITED

 

1.
PURCHASE OPTION.

 

THIS CERTIFIES THAT, in consideration of $100.00
duly paid by or on behalf of Maxim Group LLC (“Holder”), as registered owner of this Purchase Option, to Company,
a Delaware corporation, Holder is entitled, at any time or from time to time on or after the later of the first anniversary of the effective
date (“Effective Date”) of the Registration Statement and the consummation of an initial business combination
(“Commencement Date”), (as described in the Company’s registration statement (“Registration
Statement”) pursuant to which Units are offered for sale to the public in Company’s initial public offering (“Offering”))
until five years from the Effective Date of the Registration Statement (“Expiration Date”), but not thereafter,
to subscribe for, purchase and receive, in whole or in part, up to Two Hundred Thirty-Five Thousand (235,000) units (or up to Two Hundred
Seventy Thousand Two Hundred Fifty (270,250) units with full exercise of the over-allotment option in the offering) (“Units”)
of the Company, each Unit consisting of one (1) share of common stock of the Company, par value $0.0001 per share (“Common Stock(s)”),
one redeemable warrant (“Warrant(s)”), each whole Warrant entitling the holder thereof to purchase one-half (1/2) of
one share of Common Stock, and one (1) right to receive one-tenth (1/10) of one share of Common Stock upon the consummation of a Business
Combination (“Right(s)”). Each Right is the same as the right included in the units being registered for sale to the
public by way of the Registration Statement (“Public Rights”). Each Warrant is the same as the whole warrant included
in the Units being registered for sale to the public by way of the Registration Statement (the “Public Warrants”).
If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Option may be exercised
on the next succeeding day which is not such a day in accordance with the terms herein. During the period ending on the Expiration Date,
the Company agrees not to take any action that would terminate the Purchase Option. This Purchase Option is initially exercisable at $11.00
per Unit so purchased; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof
, the rights granted by this Purchase Option, including the exercise price per Unit and the number of Units (and Common Stock, Warrants
and Rights) to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall
mean the initial exercise price or the adjusted exercise price, depending on the context.

 

 

	1	Insert
date that is one (1) year from the effective date of the registration statement.

	2	Insert
date that is five (5) years from the effective date of the registration statement.

 

     

     

    

  

2.
EXERCISE OF PURCHASE OPTION.

 

2.1
Exercise Form. In order to exercise this Purchase Option, the exercise form attached hereto must be duly executed and completed
and delivered to the Company, together with this Purchase Option and payment of the Exercise Price for the Units being purchased payable
in cash or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before
5:00 p.m., New York City local time, on the Expiration Date, this Purchase Option shall become and be void without further force or effect,
and all rights represented hereby shall cease and expire.

 

2.2
Legend. Each certificate for the securities purchased under this Purchase Option shall bear a legend as follows, unless such securities
have been registered under the Securities Act of 1933, as amended (“Act”):

 

“The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (“Act”)
or applicable state law. The securities may not be offered for sale, sold or otherwise transferred except pursuant to an effective registration
statement under the Act, or pursuant to an exemption from registration under the Act and applicable state law.”

 

2.3
Cashless Exercise. 

 

2.3.1
Determination of Amount. In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase
Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1 ,
and subject to Section 6.1  hereof, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised
portion of this Purchase Option into Units (“Cashless Exercise Right”) as follows: upon exercise of the Cashless
Exercise Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number
of Units (or that number of Common Stock, Warrants and Rights comprising that number of Units) equal to the number of Units to be exercised
multiplied by the quotient obtained by dividing (x) the “Value” (as defined below) of the portion of the Purchase Option
being converted by (y) the Current Market Value (as defined below). The “Value” of the portion of the Purchase
Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of
Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number
of Units underlying the portion of the Purchase Option being converted. As used herein, the term “Current Market Value”
per Unit at any date means: (A) in the event that the Units, Common Stock, Public Warrants, and Public Rights are still trading, (i)
if the Units are listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), the average reported
last sale price of the Units in the principal trading market for the Units as reported by the exchange, Nasdaq or the Financial Industry
Regulatory Authority (“FINRA”), as the case may be, for the three trading days preceding the date in question;
or (ii) if the Units are not listed on a national securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but
is traded in the residual over-the-counter market, the average reported last sale price for Units for the three trading days preceding
the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; (B) in the
event that the Units are not still trading but the Common Stock, Public Warrants, and Public Rights underlying the Units are still trading,
the aggregate of (i) the product of (x) the Current Market Price of the Common Stock and (y) the number of the Common Stock underlying
one Unit (which shall include the portion of an Common Stock the holder of a Unit would automatically receive in connection with the
Right included in each such Unit), plus (ii) the product of (x) the Current Market Price of the Public Warrants and (y) the number of
Warrants included in one Unit; or (C) in the event that neither the Units nor the Public Warrants are still trading, the aggregate of
(i) the product of (x) the Current Market Price of the Common Stock and (y) the number of the Common Stock underlying one Unit (which
shall include the portion of an Common Stock the holder of a Unit would automatically receive in connection with the Right included in
each such Unit), plus (ii) the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of
Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the product of (aa) the Current Market Price of the
Common Stock multiplied by (bb) the number of Ordinary Shares underlying the Warrants included in each such Unit. The “Current
Market Price” shall mean (i) if the Common Stock (or Public Warrants, as the case may be) are listed on a national securities exchange
or quoted on the OTC Bulletin Board (or successor exchange), the average reported last sale price of the Common Stock (or Public Warrants)
in the principal trading market for the Common Stock (or Public Warrants) as reported by the exchange, Nasdaq or FINRA, as the case may
be, for the three trading days preceding the date in question; (ii) if the Common Stock (or Public Warrants) are not listed on a national
securities exchange or quoted on the OTC Bulletin Board (or successor exchange), but are traded in the residual over-the-counter market,
the average reported last sale price for the Common Stock (or Public Warrants) on for the three (3) trading days preceding the date in
question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair
market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the
Company shall determine, in good faith. In the event the Public Warrants have expired and are no longer exercisable, no “Value”
shall be attributed to Warrants underlying this Purchase Options.

 

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2.3.2
Mechanics of Cashless Exercise. The Cashless Exercise Right may be exercised by the Holder on any business day on or after the
Commencement Date and not later than the Expiration Date by delivering the Purchase Option with the duly executed exercise form attached
hereto with the cashless exercise section completed to the Company, exercising the Cashless Exercise Right and specifying the total number
of Units the Holder will purchase pursuant to such Cashless Exercise Right

 

2.4
No Obligation to Net Cash Settle. Notwithstanding anything to the contrary contained in this Purchase Option, in no event will
the Company be required to net cash settle the exercise of the Purchase Option or Warrants underlying the Purchase Option. The holder
of the Purchase Option and Warrants underlying the Purchase Option will not be entitled to exercise the Purchase Option or the Warrants
underlying such Purchase Option unless it exercises such Purchase Option pursuant to the Cashless Exercise Right or a registration statement
is effective, or an exemption from the registration requirements is available at such time and, if the holder is not able to exercise
the Purchase Option or underlying Warrants, the Purchase Option and/or the underlying Warrants, as applicable, will expire worthless.

  

3.
TRANSFER OF PURCHASE OPTION.

 

3.1
General Restrictions. The registered Holder of this Purchase Option, by its acceptance hereof, agrees that it will not sell,
transfer, assign, pledge or hypothecate this Purchase Option (or the Common Stock and Warrants underlying this Purchase Option), or cause
the Purchase Option (or the Common Stock and Warrants underlying this Purchase Option) to be the subject of any hedging, short sale,
derivative, put, or call transaction that would result in the effective economic disposition of the Purchase Option by any person, for
a period of 360 days (including the 180 day period required by Rule 5110(e)(1) of the Conduct Rules of FINRA) following the Effective
Date to anyone other than (i) Maxim or an underwriter or selected dealer in connection with the Offering, or (ii) a bona fide officer
or partner, associated person or affiliate of Maxim or of any such underwriter or selected dealer. On and after the 181st day following
the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order
to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed,
together with the Purchase Option and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within
5 business days transfer this Purchase Option on the books of the Company and shall execute and deliver a new Purchase Option of like
tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Units purchasable hereunder or
such portion of such number as shall be contemplated by any such assignment.

 

3.2
Restrictions Imposed by the Act. The securities evidenced by this Purchase Option shall not be transferred unless and until (i)
the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration
under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company
(the Company hereby agreeing that the opinion of Ellenoff Grossman & Schole LLP shall be deemed satisfactory evidence of the availability
of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such securities
has been filed by the Company and declared effective by the Securities and Exchange Commission (the “Commission”)
and compliance with applicable state securities law has been established.

 

4.
NEW PURCHASE OPTION TO BE ISSUED.

 

4.1
Partial Exercise or Transfer. Subject to the restrictions in Section 3  hereof, this Purchase Option may be exercised
or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Option
for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price (except
to the extent that the Holder elects to exercise this Purchase Option by means of a cashless exercise as provided in Section 2.3 above)
and/or transfer tax, the Company shall cause to be delivered to the Holder without charge a new Purchase Option of like tenor to this
Purchase Option in the name of the Holder evidencing the right of the Holder to purchase the number of Units purchasable hereunder as
to which this Purchase Option has not been exercised or assigned

  

    3

     

    

 

4.2
Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Purchase Option and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a
new Purchase Option of like tenor and date. Any such new Purchase Option executed and delivered as a result of such loss, theft, mutilation
or destruction shall constitute a substitute contractual obligation on the part of the Company.

 

5.
REGISTRATION RIGHTS.

 

5.1
Demand Registration.

 

5.1.1
Grant of Right. The Company, upon written demand (“ Initial Demand Notice ”) of the Holder(s) of at
least 51% of the Purchase Option and/or the underlying Units and/or the underlying securities (“Majority Holders”),
agrees to use its best efforts to register (the “Demand Registration”) under the Act on one occasion, all or
any portion of the (i) Purchase Option requested by the Majority Holders in the Initial Demand Notice and all of the securities underlying
such Purchase Option, including the Units, Common Stock, Warrants, Rights and the Common Stock underlying the Warrants and Rights and
(ii) the securities issued to the Holder prior to or concurrently with the Offering and all the securities underlying such securities
(collectively, the “Registrable Securities”). On such occasion, the Company will use its best efforts to file
a registration statement or a post-effective amendment to the Registration Statement covering the Registrable Securities as expeditiously
as possible within sixty (60) days after receipt of the Initial Demand Notice and use its best efforts to have such registration statement
or post-effective amendment declared effective as soon as possible thereafter. The demand for registration may be made at any time during
a period of four and one-half years beginning 180 days after the Effective Date. The Initial Demand Notice shall specify the number of
shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify all
holders of the Purchase Option and/or Registrable Securities of the demand within ten days from the date of the receipt of any such Initial
Demand Notice. Each holder of Registrable Securities who wishes to include all or a portion of such holder’s Registrable Securities
in the Demand Registration (each such holder including shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company within fifteen (15) days after the receipt by the holder of the notice from the Company.
Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration,
subject to Section 5.1.4 . The Company shall not be required to effect more than one (1) Demand Registrations under this Section
5.1 in respect of all Registrable Securities. 

 

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5.1.2
Effective Registration. Notwithstanding Section 5.1.5 , a registration will not count as a Demand Registration until the
registration statement filed with the Commission, with respect to such Demand Registration, has been declared effective and the Company
has complied with all of its obligations under this Purchase Option with respect thereto.

 

5.1.3
Underwritten Offering. If the Majority Holders so elect and such holders so advise the Company as part of the Initial Demand Notice,
the offering of such Registrable Securities pursuant to such Demand Registration shall be in the form of an underwritten offering. In
such event, the right of any holder to include its Registrable Securities in such registration shall be conditioned upon such holder’s
participation in such underwriting and the inclusion of such holder’s Registrable Securities in the underwriting to the extent
provided herein. All Demanding Holders proposing to distribute their securities through such underwriting shall enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such underwriting by the Majority Holders.

 

5.1.4 Reduction of Offering.
If the managing underwriter or underwriters for a Demand Registration that is to be an underwritten offering advises the Company and
the Demanding Holders in writing that the dollar amount or number of shares of Registrable Securities which the Demanding Holders desire
to sell, taken together with all other Common Stock or other securities which the Company desires to sell and the Common Stock, if any,
as to which registration has been requested pursuant to written contractual piggy-back registration rights held by other shareholders
of the Company who desire to sell, exceeds the maximum dollar amount or maximum number of shares that can be sold in such offering without
adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering
(such maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of Shares”), then
the Company shall include in such registration: (i) first, the Registrable Securities as to which Demand Registration has been requested
by the Demanding Holders (pro rata in accordance with the number of shares that each such person has requested be included in such registration,
regardless of the number of shares held by each such person (such proportion is referred to herein as “Pro Rata”))
that can be sold without exceeding the Maximum Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not
been reached under the foregoing clause (i), the Common Stock or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (iii) third, to the extent that the Maximum Number of Shares has not been reached under the foregoing
clauses (i) and (ii), the Common Stock or other securities registrable pursuant to the terms of the Registration Rights Agreement between
the Company and the initial investors in the Company and Maxim, dated as of [●] (the “Registration Rights Agreement”
and such registrable securities, the “Investor Securities”) as to which “piggy-back” registration
has been requested by the holders thereof, Pro Rata, that can be sold without exceeding the Maximum Number of Shares; and (iv) fourth,
to the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (i), (ii), and (iii), the Common Stock
or other securities for the account of other persons that the Company is obligated to register pursuant to written contractual arrangements
with such persons and that can be sold without exceeding the Maximum Number of Shares.

 

5.1.5
Withdrawal. If a majority-in-interest of the Demanding Holders disapprove of the terms of any underwriting or are not entitled
to include all of their Registrable Securities in any offering, such majority-in-interest of the Demanding Holders may elect to withdraw
from such offering by giving written notice to the Company and the underwriter or underwriters of their request to withdraw prior to
the effectiveness of the registration statement filed with the Commission with respect to such Demand Registration. If the majority-in-interest
of the Demanding Holders withdraws from a proposed offering relating to a Demand Registration, then the Company does not have to continue
its obligations under Section 5.1 , provided that, any such withdrawal will not count as the Demand Registration if the
Demanding Holders pay all of the Company’s out-of-pocket expenses, with respect to such withdrawn registration.

 

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5.1.6
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities, but the Holders
shall pay any and all underwriting commissions. The Company agrees to use its reasonable best efforts to qualify or register the Registrable
Securities in such states as are reasonably requested by the Majority Holder(s); provided, however, that in no event shall
the Company be required to register the Registrable Securities in a state in which such registration would cause (i) the Company to be
obligated to qualify to do business in such state, or would subject the Company to taxation as a foreign corporation doing business in
such jurisdiction or (ii) the principal shareholders of the Company to be obligated to escrow their shares of capital stock of the Company.
The Company shall use its best efforts to cause any registration statement or post-effective amendment filed pursuant to the demand rights
granted under Section 5.1.1  to remain effective for a period of nine consecutive months from the effective date of such registration
statement or post-effective amendment.

 

5.2
Piggy-Back Registration.

 

5.2.1 Piggy-Back Rights.
If at any time during the seven year period commencing on the Effective Date the Company proposes to file a registration statement under
the Act with respect to an offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible
into, equity securities, by the Company for its own account or for shareholders of the Company for their account (or by the Company and
by shareholders of the Company including, without limitation, pursuant to Section 5.1 ), other than a registration statement (i)
filed in connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely
to the Company’s existing shareholders, (iii) for an offering of debt that is convertible into equity securities of the Company
or (iv) for a dividend reinvestment plan, then the Company shall (x) give written notice of such proposed filing to the holders of Registrable
Securities as soon as practicable but in no event less than ten (10) days before the anticipated filing date, which notice shall describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed
managing underwriter or underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in such notice
the opportunity to register the sale of such number of shares of Registrable Securities as such holders may request in writing within
five (5) days following receipt of such notice (a “Piggy-Back Registration”). The Company shall cause such
Registrable Securities to be included in such registration and shall use its best efforts to cause the managing underwriter or underwriters
of a proposed underwritten offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration on the
same terms and conditions as any similar securities of the Company and to permit the sale or other disposition of such Registrable Securities
in accordance with the intended method(s) of distribution thereof. All holders of Registrable Securities proposing to distribute their
securities through a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting agreement
in customary form with the underwriter or underwriters selected for such Piggy-Back Registration.

 

5.2.2
Reduction of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten
offering advises the Company and the holders of Registrable Securities in writing that the dollar amount or number of Common Stock which
the Company desires to sell, taken together with Common Stock, if any, as to which registration has been demanded pursuant to written
contractual arrangements with persons other than the holders of Registrable Securities hereunder, the Registrable Securities as to which
registration has been requested under this Section 5.2 , and the Common Stock, if any, as to which registration has been requested
pursuant to the written contractual piggy-back registration rights of other shareholders of the Company, exceeds the Maximum Number of
Shares, then the Company shall include in any such registration:

 

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

 

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

 

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

 

5.2.3
Withdrawal. Any holder of Registrable Securities may elect to withdraw such holder’s request for inclusion of Registrable
Securities in any Piggy-Back Registration by giving written notice to the Company of such request to withdraw prior to the effectiveness
of the registration statement. The Company (whether on its own determination or as the result of a withdrawal by persons making a demand
pursuant to written contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration
statement. Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of Registrable Securities
in connection with such Piggy-Back Registration as provided in Section 5.2.4 .

 

5.2.4
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities, including the expenses
of one legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities but the Holders
shall pay any and all underwriting commissions related to the Registrable Securities. In the event of such a proposed registration, the
Company shall furnish the then Holders of outstanding Registrable Securities with not less than fifteen days written notice prior to
the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each applicable
registration statement filed (during the period in which the Purchase Option is exercisable) by the Company until such time as all of
the Registrable Securities have been registered and sold. The Holders of the Registrable Securities shall exercise the “piggy-back”
rights provided for herein by giving written notice within ten days of the receipt of the Company’s notice of its intention to
file a registration statement. The Company shall use its best efforts to cause any registration statement filed pursuant to the above
“piggyback” rights to remain effective for at least nine months from the date that the Holders of the Registrable Securities
are first given the opportunity to sell all of such securities.

 

5.3
General Terms.

 

5.3.1
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense
or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending
against litigation, commenced or threatened, or any claim whatsoever whether arising out of any action between the underwriter and the
Company or between the underwriter and any third party or otherwise) to which any of them may become subject under the Act, the Exchange
Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant
to which the Company has agreed to indemnify the underwriters contained in Section 5 of the Underwriting Agreement between the Company,
Maxim and the other underwriters named therein dated the Effective Date (“Underwriting Agreement ”). The Holder(s)
of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally,
and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls the Company within the meaning
of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim, damage, expense or liability (including all reasonable
attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to
which they may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such
Holders, or their successors or assigns for specific inclusion in such registration statement or arising from any omission or the alleged
omission to state a material fact required to be stated therein or necessary to make the statement contained therein not misleading in
connection with the registration of the Registrable Securities, to the same extent and with the same effect as the provisions contained
in Section 5 of the Underwriting Agreement pursuant to which the underwriters have agreed to indemnify the Company.

  

    7

     

    

 

5.3.2
Exercise of Purchase Option. Nothing contained in this Purchase Option shall be construed as requiring the Holder(s) to exercise
their Purchase Option or Warrants underlying such Purchase Option prior to or after the initial filing of any registration statement
or the effectiveness thereof.

 

5.3.3
Documents Delivered to Holders. The Company shall furnish Maxim, for as long as it is a Holder, as representative of the Holders
participating in any of the foregoing offerings, a signed counterpart, addressed to the participating Holders, of (i) an opinion of counsel
to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort” letter
dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, a letter
dated the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued a report
on the Company’s financial statements included in such registration statement, in each case covering substantially the same matters
with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’ letter,
with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s
counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall
also deliver promptly to Maxim, as representative of the Holders participating in the offering, the correspondence and memoranda described
below and copies of all correspondence between the Commission and the Company, its counsel or auditors and all memoranda relating to
discussions with the Commission or its staff with respect to the registration statement and permit Maxim, as representative of the Holders,
to do such investigation, upon reasonable advance notice, with respect to information contained in or  from the registration statement
as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access
to books, records and properties and opportunities to discuss the business of the Company with its officers and independent auditors,
all to such reasonable extent and at such reasonable times and as often as Maxim, as representative of the Holders, shall reasonably
request. The Company shall not be required to disclose any confidential information or other records to Maxim, as representative of the
Holders, or to any other person, until and unless such persons shall have entered into reasonable confidentiality agreements (in form
and substance reasonably satisfactory to the Company), with the Company with respect thereto.

 

5.3.4
Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected
by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter shall be reasonably
acceptable to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such
managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily
contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating
to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties
and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such
Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except
as they may relate to such Holders and their intended methods of distribution. Such Holders, however, shall agree to such covenants and
indemnification and contribution obligations for selling shareholders as are customarily contained in agreements of that type used by
the managing underwriter. Further, such Holders shall execute appropriate custody agreements and otherwise cooperate fully in the preparation
of the registration statement and other documents relating to any offering in which they include securities pursuant to this Section
5. Each Holder shall also furnish to the Company such information regarding itself, the Registrable Securities held by it, and the intended
method of disposition of such securities as shall be reasonably required to effect the registration of the Registrable Securities.

 

    8

     

    

  

5.3.5
Rule 144 Sale. Notwithstanding anything contained in this Section 5  to the contrary, the Company shall have no obligation
pursuant to Sections 5.1  or 5.2  to use its best efforts to obtain the registration of Registrable Securities held by
any Holder (i) where such Holder would then be entitled to sell under Rule 144 within any three-month period (or such other period prescribed
under Rule 144 as may be provided by amendment thereof) all of the Registrable Securities then held by such Holder, or (ii) where the
number of Registrable Securities held by such Holder is within the volume limitations under paragraph (e) of Rule 144 (calculated as
if such Holder were an affiliate within the meaning of Rule 144).

 

5.3.6
Supplemental Prospectus. Each Holder agrees, that upon receipt of any notice from the Company of the happening of any event as
a result of which the prospectus included in the registration statement, as then in effect, includes an untrue statement of a material
fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light
of the circumstances then existing, such Holder will immediately discontinue disposition of Registrable Securities pursuant to the registration
statement covering such Registrable Securities until such Holder’s receipt of the copies of a supplemental or amended prospectus,
and, if so desired by the Company, such Holder shall deliver to the Company (at the expense of the Company) or destroy (and deliver to
the Company a certificate of such destruction) all copies, other than permanent file copies then in such Holder’s possession, of
the prospectus covering such Registrable Securities current at the time of receipt of such notice.

 

6.
ADJUSTMENTS.

 

6.1 Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Units underlying the Purchase Option shall be
subject to adjustment from time to time as hereinafter set forth:

 

6.1.1
Stock Dividends - Split-Ups. If after the date hereof, and subject to the provisions of Section 6.3  below, the number
of outstanding Common Stock is increased by a stock dividend payable in Common Stock or by a split-up of Common Stock or other similar
event, then, on the effective date thereof, the number of Common Stock underlying each of the Units purchasable hereunder shall be increased
in proportion to such increase in outstanding shares. In such case, the number of Common Stock, and the exercise price applicable thereto,
underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in accordance with the terms of the Warrants.

  

6.1.2
Aggregation of Shares. If after the date hereof, and subject to the provisions of Section 6.3 , the number of outstanding
Common Stock is decreased by a consolidation, combination or reclassification of Common Stock or other similar event, then, on the effective
date thereof, the number of Common Stock underlying each of the Units purchasable hereunder shall be decreased in proportion to such
decrease in outstanding shares and the Exercise Price shall be proportionately increased. In such case, the number of Common Stock, and
the exercise price applicable thereto, underlying the Warrants underlying each of the Units purchasable hereunder shall be adjusted in
accordance with the terms of the Warrants.

 

6.1.3
Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Common
Stock other than a change covered by Section 6.1.1  or 6.1.2  hereof or that solely affects the par value of such Common
Stock, or in the case of any merger or consolidation of the Company with or into another company (other than a consolidation or merger
in which the Company is the continuing entity and that does not result in any reclassification or reorganization of the outstanding Common
Stock), or in the case of any sale or conveyance to another company or entity of the property of the Company as an entirety or substantially
as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Option shall have the right thereafter
(until the expiration of the right of exercise of this Purchase Option) to receive upon the exercise hereof, for the same aggregate Exercise
Price payable hereunder immediately prior to such event, the kind and amount of shares or other securities or property (including cash)
receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer,
by a Holder of the number of Common Stock of the Company obtainable upon exercise of this Purchase Option and the underlying Warrants
immediately prior to such event; and if any reclassification also results in a change in Common Stock covered by Section 6.1.1 or
6.1.2 , then such adjustment shall be made pursuant to Sections 6.1.1 , 6.1.2  and this Section 6.1.3 . The
provisions of this Section 6.1.3  shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers.

 

    9

     

    

  

6.1.4
Changes in Form of Purchase Option. This form of Purchase Option need not be changed because of any change pursuant to this Section,
and a Purchase Option issued after such change may state the same Exercise Price and the same number of Units as are stated in the Purchase
Option as initially issued. The acceptance by any Holder of the issuance of a new Purchase Option reflecting a required or permissive
change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation thereof.

 

6.2
Substitute Purchase Option. In case of any consolidation of the Company with, or merger of the Company with, or merger of the
Company into, another entity (other than a consolidation or merger which does not result in any reclassification or change of the outstanding
Common Stock), the entity formed by such consolidation or merger shall execute and deliver to the Holder a supplemental Purchase Option
providing that the holder of each Purchase Option then outstanding or to be outstanding shall have the right thereafter (until the stated
expiration of such Purchase Option) to receive, upon exercise of such Purchase Option, the kind and amount of shares and other securities
and property receivable upon such consolidation or merger, by a holder of the number of Common Stock of the Company for which such Purchase
Option might have been exercised immediately prior to such consolidation, merger, sale or transfer. Such supplemental Purchase Option
shall provide for adjustments which shall be identical to the adjustments provided in Section 6 . The above provision of this
Section shall similarly apply to successive consolidations or mergers.

 

6.3 Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Common Stock or
Warrants upon the exercise of the Purchase Option, nor shall it be required to issue scrip or pay cash in lieu of any fractional
interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down
to the nearest whole number of Warrants, Common Stock or other securities, properties or rights.

 

7.
RESERVATION AND LISTING. The Company shall at all times reserve and keep available out of its authorized but unissued Common Stock,
solely for the purpose of issuance upon exercise of the Purchase Option (including the Common Stock underlying the Rights) or the Warrants,
such number of Common Stock or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants
and agrees that, upon exercise of the Purchase Option and payment of the Exercise Price therefor, all Common Stock and other securities
issuable upon such exercise shall be duly and validly issued, fully paid and non- assessable and not subject to preemptive rights of
any shareholder. The Company further covenants and agrees that upon exercise of the Warrants underlying the Purchase Option and payment
of the respective Warrant exercise price therefor, all Common Stock and other securities issuable upon such exercise shall be duly and
validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholders. As long as the Purchase Option
shall be outstanding, the Company shall use its best efforts to cause all (i) Units and Common Stock issuable upon exercise of the Purchase
Option, (ii) Warrants issuable upon exercise of the Purchase Option, (iii) Common Stock issuable upon exercise of the Warrants included
in the Units issuable upon exercise of the Purchase Option, (iv) Rights issuable upon exercise of the Purchase Option and (v) Common
Stock underlying the Rights included in the Units issuable upon exercise of the Purchase Option to be listed and/or quoted (subject to
official notice of issuance) on all securities exchanges (or, if applicable, on the OTC Bulletin Board or OTC Markets Group, Inc. or
any successor trading market) on which the Common Stock or the Public Warrants may then be listed and/or quoted.

 

8.
CERTAIN NOTICE REQUIREMENTS.

 

8.1 Holder
’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent
as a shareholders for the election of directors or any other matter, or as having any rights whatsoever as a shareholders of the
Company. If, however, at any time prior to the expiration of the Purchase Option and its exercise, any of the events described in Section
8.2  shall occur, then, in each such event, the Company shall give written notice of such event at least fifteen days prior to
the date fixed as a record date or the date of closing the transfer books for the determination of the shareholders entitled to such
dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer
books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to
the other shareholders of the Company at the same time and in the same manner that such notice is given to the
shareholders.

 

    10

     

    

 

8.2
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the
following events: (i) if the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, or (ii) the Company
shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or securities convertible into
or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution,
liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all or substantially
all of its property, assets and business shall be proposed.

 

8.3
Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant
to Section 6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice
shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the
Company’s Chief Executive Officer.

 

8.4
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Option shall be in writing
and shall be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Option, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to the
following address or to such other address as the Company may designate by notice to the Holders:

 

Eddie
Ni

Chief
Executive Officer

4360
E New York St.

Aurora,
IL 60504

Tel:
330-352-7788

 

9.
MISCELLANEOUS.

 

9.1
Amendment The Company and Maxim, for as long as it is a Holder, may from time to time supplement or amend this Purchase Option
without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that
may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions
arising hereunder that the Company and Maxim may deem necessary or desirable and that the Company and Maxim deem shall not adversely
affect the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party
against whom enforcement of the modification or amendment is sought.

 

9.2
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit
or affect the meaning or interpretation of any of the terms or provisions of this Purchase Option.

 

9.3
Entire Agreement. This Purchase Option (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Option) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4
Binding Effect. This Purchase Option shall inure solely to the benefit of and shall be binding upon the Holder and the Company
and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Option or any provisions herein
contained.

 

    11

     

    

  

9.5 Governing
Law; Submission to Jurisdiction. This Purchase Option shall be governed by and construed and enforced in accordance with the
laws of the State of New York, without giving effect to conflict of laws principles thereof. Each of the Holder and the Company
hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Option shall
be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern
District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each of the Holder and
the Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any
process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail,
return receipt requested, postage prepaid, addressed to it at the address set forth in Section 8.4  hereof. Such mailing
shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and
the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its
reasonable attorneys' fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation
therefore.

 

9.6
Waiver, Etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Option shall
not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Option or any
provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Option. No
waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Option shall be effective unless set
forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver
of any such breach, non-compliance or non- fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach
or non-compliance.

 

9.7
Execution in Counterparts. This Purchase Option may be executed in one or more counterparts, and by the different parties hereto
in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the
same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered
to each of the other parties hereto.

 

9.8
Exchange Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Option, Holder agrees that,
at any time prior to the complete exercise of this Purchase Option by Holder, if the Company and Maxim enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Options will be exchanged for securities or cash or
a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature
Page Follows]

 

    12

     

    

 

IN WITNESS WHEREOF, the Company has caused this
Purchase Option to be signed by its duly authorized officer as of the _____ day of_________, 2022.

 

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

  

    13

     

    

  

Form
to be used to exercise Purchase Option

 

Eddie
Ni

Chief
Executive Officer

4360
E New York St.

Aurora,
IL 60504

Tel:
330-352-7788

 

Date:
[●], 20__

 

The
undersigned hereby elects irrevocably to exercise all or a portion of the within Purchase Option and to purchase         Units of
Goldenstone Acquisition Limited and hereby makes payment of $         (at the rate of $         per Unit) in payment of the Exercise Price pursuant
thereto. Please issue the securities as to which this Purchase Option is exercised in accordance with the instructions given
below.

 

Or

 

The
undersigned hereby elects irrevocably to convert its right to purchase         Units purchasable under the within Purchase Option by surrender
of the unexercised portion of the attached Purchase Option (with a “Value” based of $         based on a “Market Price”
of $         ). Please issue the securities comprising the Units as to which this Purchase Option is exercised in accordance with the instructions
given below.

  

 

NOTICE:
The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without
alteration or enlargement or any change whatever

 

Signature(s)
Guaranteed:

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

INSTRUCTIONS
FOR REGISTRATION OF SECURITIES

 

Name

 

(Print in Block Letters)

 

 

Address

 

    14

     

    

 

Form
to be used to assign Purchase Option:

 

ASSIGNMENT

 

(To
be executed by the registered Holder to effect a transfer of the within Purchase Option):

FOR
VALUE RECEIVED,________________________________________ does hereby sell, assign and transfer
unto____________________________________ the right to purchase _________ Units of Goldenstone Acquisition Limited
(“Company”) evidenced by the within Purchase Option and does hereby authorize the Company to transfer such right
on the books of the Company.

 

Dated:
__________, 20__

  

	 	 
	 	Signature

  

	 	 
	 	NOTICE:
The signature to this assignment must correspond with the name as written upon the face of the purchase option in every particular, without
alteration or enlargement or any change whatever.

  

  

Signature(s)
Guaranteed:

 

 

 

THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

 

 

15Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as of
[*], 2022 by and between Goldenstone Acquisition Limited (the “Company”) and Continental Stock Transfer & Trust Company,
a New York limited purpose trust company (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. 333-257209 (“Registration Statement”) for its initial public offering of securities
(“IPO”) has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange Commission
(capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement); and

 

WHEREAS, Maxim Group LLC (“Maxim”)
is acting as the underwriter in the IPO; and

 

WHEREAS, if a Business Combination
is not consummated within the initial 12 month period following the closing of the IPO, the Company’s insiders may extend such period
by three three-month periods, up to a maximum of 21 months in the aggregate, by depositing $500,000 (or $575,000 if the Underwriters’
over-allotment option is exercised in full, or in any case, $0.10 per public share) into the Trust Account (as defined below) no later
than the 12 month anniversary of the IPO, the 15 month anniversary of the IPO, the 18 month anniversary of the IPO, or the 21 month anniversary
of the IPO (each, an “Applicable Deadline”), as applicable, for each three-month extension (each, an “Extension”),
in exchange for which they will receive promissory notes; and

 

WHEREAS, as described in the
Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $50,750,000 of the
gross proceeds of the IPO and the net proceeds of a private placement taking place simultaneously therewith ($58,362,500 if the over-allotment
option is exercised in full), plus any amount eventually deposited on account of any Extension, will be delivered to the Trustee to be
deposited and held in the Trust Account for the benefit of the Company and the holders of the Company’s common stock, par value
0.0001 per share, issued in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee, including the proceeds from
any loans in connection with an Extension, if any, will be referred to herein as the “Property”; the stockholders for whose
benefit the Trustee shall hold the Property will be referred to as the “Public Stockholders,” and the Public Stockholders
and the Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS, the Company and the
Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

IT IS AGREED:

 

1. Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a) Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust account (“Trust
Account”) established by the Trustee at JP Morgan Chase Bank, N.A. in the United States (or at another U.S. chartered commercial
bank with consolidated assets of $100 billion or more), maintained by Trustee, and at a brokerage institution selected by the Trustee
that is reasonably satisfactory to the Company;

 

(b) Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c) In a timely manner, upon
the written instruction of the Company, invest and reinvest the Property solely in United States government securities within the meaning
of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds
meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act of 1940,
as amended (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined by the Company, the
Trustee may not invest in any other securities or assets; it being understood that the Trust Account will earn no interest while account
funds are uninvested awaiting the Company’s instructions hereunder; and while account funds are invested or uninvested, the Trustee
may earn bank credits or other consideration;

 

     

     

    

 

(d) Collect
and receive, when due, all principal and income arising from the Property, which shall become part of the “Property,” as such
term is used herein;

 

(e) Notify
the Company and Maxim of all communications received by it with respect to any Property requiring action by the Company;

 

(f) Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of its tax
returns;

 

(g) Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the
Company to do so;

 

(h) Render
to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements
of the Trust Account; and

 

(i) Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf
of the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary and, in the case
of a Termination Letter in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by Maxim,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been received
by the Trustee by the 12-month anniversary of the closing of the IPO (“Closing”) or, in the event that the Company extended
the time to complete the Business Combination for up to 21-months from the closing of the IPO by depositing $500,000 (or $575,000 if the
underwriters’ over-allotment option was exercised in full) for each 3-month extension, but has not completed the Business Combination
within the applicable monthly anniversary of the Closing, (“Last Date”), the Trust Account shall be liquidated in accordance
with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed to the Public Stockholders
as of the Last Date.

 

(j) Upon
receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit D hereto at least five business
days prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount specified
in the Extension Letter on or prior to the Applicable Deadline, to follow the instructions set forth in the Extension Letter.

 

(k) Not disburse any amounts
from the Trust Account in connection with a Business Combination in the event that the amount per share to be received by the redeeming
Public Stockholders is less than $10.15 per share (plus the amount per share deposited in the Trust Account pursuant to any Extension
Letter).

 

(l) In
connection with a Business Combination, the Company or any other person, disburse the per share amount to redeeming Public Stockholders
(other than shares tendered through the Depository Trust Company) that have tendered their shares directly to the Trustee.

 

    2

     

    

 

(m) Promptly
acknowledge and comply with any irrevocable instruction letter delivered in the form of Exhibit E delivered by the Company in connection
with the disbursement of funds to a Public Stockholder.

 

(n) Promptly
acknowledge, in writing to any redeeming Public Stockholder and the Company, any irrevocable instruction letter in the form of Exhibit
F delivered by such redeeming Public Stockholder after the announcement by the Company of a proposed Business Combination and promptly
comply with any irrevocable written instruction letter in the form of Exhibit F delivered by such Public Stockholder in connection
with the disbursement of funds to such Public Stockholder if the Company has not notified the Trustee in writing during the Objection
Period that such irrevocable written instruction letter is a Non-Compliant Instruction Letter (as defined below).

 

2. Limited Distributions
of Income from Trust Account.

 

(a) Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company
to cover any income or other tax obligation owed by the Company.

 

(b) The
limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided in
Section 2(a), no other distributions from the Trust Account shall be permitted except in accordance with Section 1(i) hereof.

 

(c) The
Company shall provide Maxim with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee with
respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

3. Agreements
and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give
all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer, President
or Chief Financial Officer. In addition, except with respect to its duties under paragraphs 1(i), 2(a) and 2(b) above, the Trustee shall
be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it in good faith believes
to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm
such instructions in writing;

 

(b) Subject
to the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against, any
and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any claim, potential
claim, action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand which
in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from
investment of the Property, except for expenses and losses resulting from the Trustee’s gross negligence or willful misconduct.
Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant
to which the Trustee intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter
referred to as the “Indemnified Claim”); provided, however, that the Trustee’s failure to provide such notice shall
not relieve the Company of its liability hereunder, except to the extent that it is materially prejudiced by such failure. The Trustee
shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to
settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably withheld or delayed.
The Company may participate in such action with its own counsel;

 

    3

     

    

 

(c) Pay
the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections
2(a) and 2(b) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee shall be deducted
by the Trustee from the disbursements made to the Company pursuant to Sections 1(i) solely in connection with the consummation of a Business
Combination, or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the
consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

(d) In
connection with any vote of the Company’s stockholders regarding a Business Combination, provide to the Trustee an affidavit or
certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating stockholder votes verifying the vote of
the Company’s stockholders regarding such Business Combination; and

 

(e) In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees
that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement.

 

(f) Upon receiving the written
request of a Public Stockholder to do so at any time after the date hereof, provide such Public Stockholder with a copy of any instruction
provided to the Trustee pursuant to Section 1(i) or Section 1(j) along with any Notification (as defined in Exhibit A), Instruction
Letter (as defined in Exhibit A), applicable flow of funds memorandum (or similar document), or any other notice delivered to the
Trustee by the Company regarding the disbursement of Property from the Trust Account resulting in the Property left in the Trust Account
being less than $50,750,000 (or $58,362,500 if the Underwriters’ over-allotment option is exercised in full) plus any amount eventually
deposited on account of any Extension, which, in each case, shall specify to whom the Property shall be disbursed (such written notice,
a “Disbursement Notice” and the date such Public Stockholder receives a Disbursement Notice, a “Disbursement Notice
Date”). Each Disbursement Notice shall be delivered to such Public Stockholder at least two business days prior to the disbursement
of any Property pursuant to Section 1(i) or Section 1(j) and no Property shall be disbursed from the Trust Account prior to the date that
is two business days from the applicable Disbursement Notice Date.

 

(g) At the request of any Public
Stockholder who has removed shares from street name and holds such shares either in certificated or book-entry form and, except if such
shares are held in book-entry form, delivered such certificated shares to the Trustee for purposes of redemption in connection with a
Business Combination, concurrently with the delivery of such shares, solely if such shares are certificated. to the Trustee, send an irrevocable
written instruction letter in the form of Exhibit E to the Trustee directing the Trustee to disburse no less than $10.15 per share
(plus the amount per share deposited in the Trust Account pursuant to any Extension Letter) to such Public Stockholder.

 

(h) Following
receipt of a copy of an irrevocable written instruction letter in the form of Exhibit F delivered by a Public Stockholder who has
removed shares from street name and holds such shares either in certificated or book-entry form and, except if such shares are held in
book-entry form, delivered such certificated shares to the Trustee for purposes of redemption in connection with a Business Combination
to the Trustee, review such letter to confirm (i) such letter is in the form of Exhibit F, (ii) a Business Combination has been
announced on or prior to the date of such letter and (iii) the number of shares of common stock set forth on such letter to be redeemed
is not greater than the number of shares of common stock held by the applicable Public Stockholder. Solely if the Company cannot confirm
the requirements of clauses (i) through (iii) of this Section 3(h), but not for any other reason, then within two days of the Company’s
receipt of the applicable copy of the irrevocable written instruction letter in the form of Exhibit F (such time period, the “Objection
Period”), the Company will notify the applicable Public Stockholder and the Trustee in writing that such irrevocable written instruction
letter is a “Non-Compliant Instruction Letter” and that the Trustee shall not comply with such letter.

 

    4

     

    

 

(i). If applicable, the Company
shall issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable
Deadline, the Company received notice from the Company’s insiders that the insiders intend to extend the Applicable Deadline;

 

(j). Promptly following the
Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination has been extended.

 

4. Limitations
of Liability. The Trustee shall have no responsibility or liability to:

 

(a) Take
any action with respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability to
any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b) Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind
with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to
do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(c) Change
the investment of any Property, other than in compliance with paragraph 1(c);

 

(d) Refund
any depreciation in principal of any Property;

 

(e) Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise
in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f) The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee may rely conclusively
and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by
the Trustee), statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness
of its provisions, but also as to the truth and acceptability of any information therein contained) which is believed by the Trustee,
in good faith, to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice
or demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a
written instrument delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected,
unless it shall give its prior written consent thereto;

 

    5

     

    

 

(g) Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by the Company
or any other action taken by it is as contemplated by the Registration Statement;

 

(h) File
local, state and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee statements
with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income earned on the Property;

 

(i) Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes and
that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section 2(a) hereof);

 

(j) Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein; and

 

(k) Verify
calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i), 2(a) or 2(b) above.

 

5. Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or
to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have
now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets outside the Trust
Account and not against the Property or any monies in the Trust Account.

 

6. Termination.
This Agreement shall terminate as follows:

 

(a) If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts
to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement. At such time that the Company
notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this
Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer
of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that,
in the event that the Company does not locate a successor trustee within ninety days of receipt of the resignation notice from the Trustee,
the Trustee may submit an application to have the Property deposited with any court in the State of New York or with the United States
District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever;
or

 

(b) At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(i) hereof,
and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect
to Paragraph 3(b).

 

7. Miscellaneous.

 

(a) The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures
to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon all
information supplied to it by the Company, including account names, account numbers and all other identifying information relating to
a beneficiary, beneficiary’s bank or intermediary bank. The Trustee shall not be liable for any loss, liability or expense resulting
from any error in the information or transmission of the wire.

 

    6

     

    

 

(b) This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect
to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. It may be executed
in several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections 1(i), 1(m),
1(n), 1(o), 1(p), 3(g), 3(h) 7(c) and 7(h) (which may only be amended with the approval of the holders of at least 50% or more of all
then outstanding shares of the Common Stock present or represented at the meeting, par value $0.0001 per share, of the Company voting
together as a single class, have voted in favor of such change, amendment or modification., provided that all Public Stockholders must
be given the right to receive a pro-rata portion of the trust account (no less than $10.15 per share plus the amount per share deposited
in the Trust Account pursuant to any Extension Letter) in connection with any such amendment), this Agreement or any provision hereof
may only be changed, amended or modified by a writing signed by each of the parties hereto; provided, however, that no such change, amendment
or modification may be made without the prior written consent of Maxim. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury. The Trustee may require from Company counsel an opinion as to the propriety
of any proposed amendment.

 

(d) The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of Manhattan,
for purposes of resolving any disputes hereunder.

 

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

 

if to the Trustee, to:

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste
Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

Goldenstone Acquisition
Limited

4360 E New York St.

Aurora, IL 60504

Attn: Eddie Ni

 

    7

     

    

 

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

 

Maxim Group LLC

405 Lexington Ave

New York, NY 10174

Attn: Alex Jin

Facsimile: (212) 895-3773

 

and

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York
10154

Attn: Giovanni Caruso, Esq.

Fax No.: (212) 407-4990

 

and 

 

Ellenoff Grossman & Schole
LLP 

1345 Avenue of the
Americas

New York, New York
10105

Attn: Barry Grossman,
Esq.

Facsimile.: (212)
370-7889

 

(f) This Agreement may not be
assigned by the Trustee or the Commpany without the prior consent of the other party.

 

(g) Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder.

 

(h) Each
of the Company and the Trustee hereby acknowledge that Maxim is a third party beneficiary of this Agreement.

 

    8

     

    

 

IN WITNESS WHEREOF, the parties have duly executed
this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee

 

	 	By:	 
	 	 	Name:	Francis Wolf
	 	 	Title:	Vice President

 

	 	GOLDENSTONE ACQUISITION LIMITED

 

	 	By:	 
	 	 	Name:	Eddie Ni
	 	 	Title:	Chief Executive Officer

  

    9

     

    

 

SCHEDULE A

 

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,500.00	 
	Annual fee	 	Initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Section 2	 	Billed to the Company following disbursement made to Company under Section 2	 	$	250	 
	Paying Agent services as required pursuant to section 1(i)	 	Billed to Company upon delivery of service pursuant to section 1(i)	 	 	Prevailing rates
 	 

 

    10

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

                      [Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:    Trust
Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to paragraph 1(i) of
the Investment Management Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer&
Trust Company (“Trustee”), dated as of [*] , 2022 (“Trust Agreement”), this is to advise you that the Company
has entered into an agreement with [__________________] (“Target Business”) to consummate a business combination with Target
Business (“Business Combination”) on or about [insert date]. The Company shall notify you at least 72 hours in advance
of the actual date of the consummation of the Business Combination (“Consummation Date”). Capitalized terms used herein and
not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments and to transfer the proceeds to the above-referenced
account at JPMorgan Chase Bank, N.A. to the effect that, on the Consummation Date, all of funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct on the Consummation Date. It is acknowledged and agreed
that while the funds are on deposit in the trust account awaiting distribution, the Company will not earn any interest or dividends.

 

On the Consummation Date (i)
counsel for the Company shall deliver to you written notification that the Business Combination has been consummated, and (ii) the Company
shall deliver to you (a) [an affidavit] [a certificate] of the Chief Executive Officer, which verifies the vote of the Company’s
stockholders in connection with the Business Combination if a vote is held and (b) joint written instructions from the Company and Maxim
Group LLC with respect to the transfer of the funds held in the Trust Account, which must provide for the disbursement of no less than
$10.15 per share plus the amount per share deposited in the Trust Account per Extension Letter to redeeming Public Stockholders (“Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of
the counsel’s letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain
deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and distributed after the Consummation
Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
be terminated.

 

In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the
funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately following the Consummation
Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	GOLDENSTONE ACQUISITION LIMITED

 

	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Secretary/Assistant Secretary

 

	Acknowledged and Agreed:	 
	 	 
	Maxim Group LLC	 

 

	
    By:
		
	Name:	 	 
	Title:	 	 

 

 

    11

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

                      [Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:    Trust
Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to paragraph 1(i) of
the Investment Management Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer&
Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this is to advise you that the Company has
been unable to effect a Business Combination with a Target Company within the time frame specified in the Company’s Amended and
Restated Certificate of Incorporation, as described in the Company’s prospectus relating to its IPO. Capitalized terms used herein
and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments and to transfer the total proceeds to the
Trust Operating Account at JPMorgan Chase Bank, N.A. to await distribution to the Public Stockholders. The Company has selected [____________,
20__] as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the
liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation proceeds while on deposit in
the Trust Checking Account. You agree to be the Paying Agent of record and in your separate capacity as Paying Agent, to distribute said
funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds in the Trust Account, your obligations under the Trust Agreement
shall be terminated.

 

 

	 	Very truly yours,
	 	 
	 	GOLDENSTONE ACQUISITION LIMITED

 

	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Secretary/Assistant Secretary

 

		cc:	Maxim Group LLC

 

    12

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

                     [Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:    Trust
Account - Interest Withdrawal Request (Taxes) 

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to paragraph 2(a) of
the Investment Management Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer
& Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), the Company hereby requests that you
deliver to the Company [$_______] of the interest income earned on the Property as of the date hereof. The Company needs such funds to
pay for its tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via
wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	GOLDENSTONE ACQUISITION LIMITED
	 	 
	 	By:	                       
	 	Name:	 
	 	Title:	 

 

		cc:	Maxim Group LLC

 

    13

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

                      [Insert
date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:    Trust
Account - Extension Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(l) of the Investment Management
Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer & Trust Company, dated
as of [*], 2022 (“Trust Agreement”), this is to advise you that the Company is extending the time available in order to consummate
a Business Combination with the Target Businesses for an additional three (3) months, from _______ to _________ (the “Extension”).

 

This Extension Letter shall serve as the notice
required with respect to Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise defined shall have
the meanings ascribed to them in the Trust Agreement.

 

In accordance with the terms of the Trust Agreement,
we hereby authorize you to deposit [$500,000] [(or $575,000 if the underwriters’ over-allotment option was exercised in full, or
in any case, $0.10 per public share)], which will be wired to you, into the Trust Account investments upon receipt.

 

This is the ____ of up to three Extension Letters.

 

	 	Very truly yours,
	 	 
	 	GOLDENSTONE ACQUISITION LIMITED
	 	 
	 	By :	                      
	 	Name:	 
	 	Title:	 

 

		cc:	Maxim Group LLC

 

    14

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

                      [Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

 

 Re:    Trust Account - Irrevocable
Instruction in Connection with Business Combination

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to paragraphs 1(m) and 3(g) of the Investment
Management Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this constitutes our irrevocable instruction to
you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share amount of $______, for
a total disbursement of $__________________which is not less than $10.15 per share (plus the amount per share deposited in the Trust Account
pursuant to any Extension Letter) to ________________ (the “Stockeholder”) for the _____________________ shares of common
stock of the Company delivered to you prior to or concurrently herewith for redemption in connection with the Business Combination, and
(ii) deliver to the Stockholder the amounts specified in clause (i) prior to delivering and amounts to the Depository Trust Company, the
Company, or any person from whom you have not received an irrevocable instruction substantially similar to this one. The Stockholder wire
instructions are attached. A share advice or DWAC instruction from our broker is also attached. A processing fee of $250 will be deducted
from the proceeds delivered to the stockholder.

 

The Company shall indemnify you and
your officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and all
loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted against
you or any of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder and
otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder,
except that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross
negligence or in bad faith. You shall have no liability to the Company in respect to any action taken or any failure to act in respect
of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard on the advice
of counsel.

 

The Board of Directors of the Company
has approved the foregoing irrevocable instructions and does hereby extend the Company’s irrevocable agreement to indemnify your
firm for all loss, liability or expense in carrying out the authority and direction herein contained on the terms herein set forth.

 

The Stockholder is intended to be and
is a third party beneficiary of this letter and the irrevocable instructions set forth herein, and no amendment or modification to the
instructions set forth herein may be made without the prior written consent of the Stockholder.

 

By signing below, the person executing
this letter certifies that they are duly authorized to execute this letter on behalf of the Company and to bind the Company to all of
the terms and conditions contained herein.

 

[remainder of page intentionally left blank]

 

    15

     

    

 

	 	Very truly yours,
	 	 
	 	GOLDENSTONE ACQUISITION LIMITED
	 	 
	 	By: 	                      
	 	Name:	 
	 	Title: 	 

 

	Acknowledged and Agreed:	 
	 	 
	CONTINENTAL STOCK TRANSFER &

 TRUST COMPANY, as Trustee	 
	 	 
	 	 
	Name:	 	 
	Title:	 	 

 

		Cc:	[STOCKHOLDER].

 

Attachments: 

Stockholder Wire Instructions

Share advice or instruction

 

    16

     

    

 

EXHIBIT F

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez 

 

 Re:    Trust Account - Irrevocable
Instruction in Connection with Business Combination

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to paragraphs 1(n) and 3(h) of the Investment
Management Trust Agreement between Goldenstone Acquisition Limited (“Company”) and Continental Stock Transfer & Trust
Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this constitutes our irrevocable instruction to
you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share amount of $______, for
a total disbursement of $_________________which is not less than $10.15 (plus the amount per share deposited in the Trust Account pursuant
to any Extension Letter) per share to ________________ (the “Stockholder”) for the _____________________ shares of common
stock of the Company delivered to you prior to or concurrently herewith for redemption in connection with the Business Combination, and
(ii) deliver to the Stockholder the amounts specified in clause (i) prior to delivering and amounts to the Depository Trust Company, the
Company, or any person from whom you have not received an irrevocable instruction substantially similar to this one. Our wire instructions
are attached. We understand that a servicing fee of $250.00 will deducted from our payment. A share advice or DWAC instruction from our
broker is attached.

 

The Company shall indemnify you and
your officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and all
loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted against
you or any of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder and
otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder,
except that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross
negligence or in bad faith. You shall have no liability to the Company in respect to any action taken or any failure to act in respect
of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard on the advice
of counsel.

 

The Board of Directors of the Company
does hereby extend the Company’s irrevocable agreement to indemnify your firm for all loss, liability or expense in carrying out
the authority and direction herein contained on the terms herein set forth.

 

No amendment or modification to the
instructions set forth herein may be made without the prior written consent of the Stockholder.

 

By signing below, the person executing
this letter certifies that they are duly authorized to execute this letter on behalf of the Stockholder and to bind the Stockeholder to
all of the terms and conditions contained herein.

 

[remainder of page intentionally left blank]

 

    17

     

    

 

	 	Very truly yours,
	 	 
	 	[STOCKHOLDER]
	 	 
	 	By: 	                   
	 	Name:	 
	 	Title: 	 

 

	Acknowledged and Agreed:
	 
	CONTINENTAL STOCK TRANSFER &
 TRUST COMPANY, as Trustee
	 	 	 
	                     	 
	Name:	 	 
	Title:	 	 

 

		Cc:	Goldenstone Acquisition Limited

 

4360 E New York St.

Aurora, IL 60504

Attn: Eddie Ni, Chief Executive Officer

 

Attachments:

Stockholder Wire Instructions

Share advice or instruction

 

 

18

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