Document:

Exhibit
10.13

 

PERFECT CORP.

 

(INCORPORATED
IN THE CAYMAN ISLANDS WITH LIMITED LIABILITY)

 

(THE “COMPANY”)

 

2021 STOCK COMPENSATION
PLAN

 

(ADOPTED BY THE
BOARD OF DIRECTORS OF THE COMPANY ON DECEMBER 13, 2021)

 

PURPOSE

 

The board of directors of the Company (the “Board”)
has established the 2021 Stock Compensation Plan (the “Plan”). The Board has determined that it would be in the best
interests of the Company and its shareholders to grant the Options described in the Plan to the Employee, director, agent, consultant
or service provider of the Company or its Affiliates, selected by the Board as an inducement to remain employment with the Company and/or
the Company’s Affiliates, and to encourage motivated services provided to the Company and/or the Company’s Affiliates, and
as an incentive for promoting the Optionees’ contribution with the Company and/or the Company’s Affiliates. Options granted
under the Plan to U.S. Taxpayer Participants may be Incentive Stock Options as determined by the Board at the time of grant of an Option
and subject to the applicable provisions of Section 422 of the Code and the regulations promulgated thereunder.

 

	1.	DEFINITIONS.

 

Wherever
the following terms are used in the Plan or any applicable Option agreements they shall have the meanings specified below, unless the
context clearly indicates otherwise. The singular pronoun shall include the plural where the context so indicates.

 

		(1)	“Affiliate” means, with respect to any specified person, any other person directly
or indirectly controlling or controlled by or under direct or indirect common control with such specified person. For the purposes of
this definition, “control” when used with respect to any person means the power to direct the management and policies of such
person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.

 

		(2)	“Articles” means the Memorandum and Articles of Association of the Company as amended
from time to time.

 

		(3)	“Award” means any award of an Option under the Plan.

 

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		(4)	“Board” has the meaning given to it in Purpose.

 

		(5)	“CAA” means Chinese Arbitration Association, Taipei.

 

		(6)	“Cause” means: (i) the Participant’s willful failure or gross neglect to perform
his or her material duties and responsibilities to the Company and/or the Company’s Affiliates or material violation of a written
policy of the Company, and/or the Company’s Affiliates; (ii) the Participant’s commission of any act of fraud, embezzlement,
dishonesty or any conduct which is punishable as a criminal offence; (iii) any willful misconduct that has caused or is reasonably expected
to result in material injury to the Company or any of the Affiliates; or (iv) unauthorized use or disclosure by the Participant of any
proprietary information or trade secrets of the Company or any of the Affiliates. The determination as to whether a Participant’s
employment has been terminated for Cause shall be made in good faith by the Company and shall be final and binding on the Participant.
The foregoing definition does not in any way limit the Company’s ability to terminate a Participant’s employment or consulting
relationship at any time.

 

		(7)	“CEO” means the Chief Executive Officer of the Company.

 

		(8)	“Change of Control” means any of the following: (i) a transfer of all or substantially
all of the Company’s assets, (ii) a merger, consolidation or other capital reorganization or business combination transaction of
the Company with or into another corporation, entity or person, except for a transaction in which holders of the outstanding voting securities
of the Company immediately prior to such merger, consolidation or other capital reorganization hold, in the aggregate, securities possessing
more than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the surviving entity immediately
after such merger or consolidation, or (iii) the consummation of a transaction, or series of related transactions, in which any individual,
corporation, partnership, limited partnership, proprietorship, association, limited liability company, firm, trust, estate or other enterprise
or entity, becomes the beneficial owner of all or substantially all of the Company’s then outstanding capital stock. Notwithstanding
the foregoing, in no event will a Change in Control be considered to have occurred as a result of the Company’s initial public offer
in any stock exchange.

 

		(9)	“Corporate Transaction” means a Change of Control, and also includes a merger, consolidation
or other capital reorganization or business combination transaction of the Company with or into another corporation, entity or person
irrespective of whether such event is a Change of Control.

 

		(10)	“Code” means the U.S. Internal Revenue Code of 1986, as amended.

 

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		(11)	“Disability” means a medically determinable physical or mental impairment that has
rendered the Optionee unable to perform the duties of the Optionee’s employment with the Company for a period of not less than ninety
(90) days, or as otherwise determined by the CEO or other senior officer(s) designated by the Board. An
Optionee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy
the CEO or other senior officer(s) designated by the Board in its discretion.

 

		(12)	“Effective Date” means the date the Plan is approved by the Board.

 

		(13)	“Employee” means any person employed by the Company or any Affiliates, with the status
of employment determined pursuant to such factors as are deemed appropriate by the Company in its sole discretion, subject to any requirements
of applicable laws.

 

		(14)	“Employees’ Achievement of the Annual Performance Goal” means the employees’
performance review generated every year by the Company.

 

		(15)	“Fair Market Value” means: (1) for Options granted after the initial public offering
of the Company, the average of the daily closing prices traded for the twenty (20) consecutive trading days before the Grant Date; or
(2) for Options granted before the initial public offering of the Company, the fair market value as determined by the CEO or other senior
officer(s) designated by the Board in good faith on such basis as it deems appropriate and applied consistently with respect to all Participants.

 

		(16)	“Grant Date” means in respect of any particular Option, the date of grant set forth
in the Grant Notice provided to the Optionee.

 

		(17)	“Incentive Stock Option” means an Option granted to a U.S. Taxpayer Participant that
is intended to, and which does, in fact, qualify as an incentive stock option within the meaning of Section 422 of the Code.

 

		(18)	“Option” means the right(s) to subscribe for Option Shares granted by the Company pursuant
to this Plan.

 

		(19)	“Optionee” means the employees and/or any other persons having service relationship
with the Company or its Affiliates, who are eligible to be granted the Option(s).

 

		(20)	“Option Shares” means the ordinary shares of a par value of US$0.1 in the Company issued
due to exercise of the Option.

 

		(21)	“Ordinary Resolution” has the meaning given in the Articles of the Company.

 

		(22)	“Plan” has the meaning given to it in Purpose.

 

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		(23)	“Participant” means any holder of one or more Options issued pursuant to an Award.

 

		(24)	“Ten Percent Holder” means a person who owns shares representing more than ten percent
(10%) of the voting power of all classes of shares of the Company at date of grant.

 

		(25)	“Two-Year Restriction” has the meaning given to it in Section 5.

 

		(26)	“Tax Obligation” means any and all income tax, social insurance, payroll tax, payment
on account or other tax related items arising out of Participant’s participation in the Plan and legally applicable to Participant.

 

		(27)	“U.S. Taxpayer Participant” means a Participant who is a citizen of the U.S., a resident
of the U.S. or is otherwise subject to the federal income tax laws of the U.S.

 

		(28)	“U.S.” means the United States of America.

 

	2.	MAXIMUM NUMBER OF SHARES AVAILABLE FOR SUBSCRIPTION

 

		(1)	Subject to the provisions of Section 11 below, the maximum aggregate number of the Option Shares that
may be issued by the Company upon exercise of all Options to be granted under this Plan shall be 30,000,000
Option Shares, up to 30,000,000 ordinary shares may be issued under the Plan pursuant to Incentive Stock Option to U.S. Taxpayer Participants.

 

		(2)	If an Award should expire or become un-exercisable for any reason without
having been exercised in full, or if Option Shares are issued under the Plan and later forfeited to the Company due to the failure to
vest, the unissued or forfeited Option Shares that were subject thereto shall, unless the Plan shall have been terminated, continue to
be or again be available for issuance pursuant to future Awards and grants under the Plan.

 

		(3)	Notwithstanding the foregoing, subject to the provisions of Section 11
below, in no event shall the maximum aggregate number of Option Shares that may be issued under the Plan pursuant to Incentive Stock Options
granted to U.S. Taxpayer Participants exceed the number set forth in the first sentence of this Section 2 plus, to the extent allowable
under Section 422 of the Code and the regulations promulgated thereunder, any shares that again become available for issuance pursuant
to the remaining provisions of this Section 2.

 

	3.	ELIGIBILITY.

 

The Optionees may be an Employee,
director, agent, consultant or service provider of the Company or its Affiliates, as selected by the Board; provided,
however, that Incentive Stock Option may only be granted to U.S. Employees of the Company or its Affiliates. The eligible
Optionees will receive a Grant Notice in the form of Exhibit I. With respect to the Incentive Stock Option, the eligible U.S.
Taxpayer Participants will also sign an Incentive Stock Option Agreement (attached as Exhibit III). Eligibility may be based on the
Employees’ Achievement of the Annual Performance Goal, including continued employment, seniority, satisfaction of performance
criteria and/or other conditions, or potential/future contribution to Company and/or its Affiliates.

 

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	4.	ADMINISTRATION.

 

This Plan shall be subject to the administration
of the Board or any senior officer(s) designated by the Board from time to time, whose decision (save as otherwise provided herein) shall
be final and binding on all parties. The Board shall have such powers and authorizations related to the administration of this Plan as
are consistent with Company’s Memorandum and Articles of Association and applicable laws. The Board shall have the full power and
authority to take all actions and to make all determinations required or provided for under this Plan, and to amend or terminate the Plan
and adopt a new plan, as long as the Optionees’ economic interests that he or her would be otherwise entitled to are not materially
adversely affected. If the Board proposes any amendment to the Plan that will have a material adverse effect on the economic interest
of the Optionees, such amendment will take effect after the approval of the Option holders representing a majority of then granted Options.

 

The power of the Board, the CEO, and
other senior officer(s) designated by the Board:

 

		(1)	To determine the Fair Market Value, provided that such determination shall be applied consistently with
respect to Participants under the Plan;

 

		(2)	To select the Employees, agents, directors, consultants and service providers to whom Awards may from
time to time be granted;

 

		(3)	To determine the number of shares to be covered by each Award;

 

		(4)	To approve the form(s) of agreement(s) and other related documents used under the Plan;

 

		(5)	To determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted
hereunder, which terms and conditions include but are not limited to the exercise price or purchase price, the time or times when Awards
may vest and/or be exercised (which may be based on performance criteria), the circumstances (if any) when vesting will be accelerated
or forfeiture restrictions will be waived, and any restriction or limitation regarding any Award or Option Shares;

 

		(6)	To approve the issue of shares pursuant to the terms of any Award;

 

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		(7)	To approve addenda to the Plan pursuant to Section 17 below or to grant Awards to, or to modify the terms
of, any outstanding Option Agreement or any agreement related to any Option Shares held by Participants who are subject to non-domestic
legal regimes with such terms and conditions as the CEO or other senior officer(s) designated by the Board deems necessary or appropriate
to accommodate differences in local law, tax policy or custom which deviate from the terms and conditions set forth in this Plan to the
extent necessary or appropriate to accommodate such differences, however, for Options granted to a U.S. Taxpayer Participant any such
modifications shall comply with Code sections 422, 424 and 409A, as applicable;

 

		(8)	To construe and interpret the terms of the Plan, any Option agreement or any agreement related to any
Option Shares, which constructions, interpretations and decisions shall be final and binding on all Participants; and

 

		(9)	To make all other determinations deemed necessary or advisable for administering the Plan.

 

To the maximum extent
permitted by applicable laws and the Company’s Articles, each member of the Board, the CEO, and other senior officer(s) designated
by the Board shall be indemnified and held harmless by the Company against and from (i) any loss, cost, liability, or expense that may
be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which
he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan or pursuant
to the terms and conditions of any Award except for actions or omissions taken in bad faith or by reason of such indemnified person’s
own dishonesty, willful default or fraud, and (ii) any and all amounts paid by him or her in settlement thereof, with the Company’s
approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided
that such member shall give the Company an opportunity, at its own expense, to handle and defend any such claim, action, suit or proceeding
before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive
of any other rights of indemnification to which such persons may be entitled under the Company’s applicable corporate organizational
documents by contract, as a matter of law, or otherwise, or under any other power that the Company may have to indemnify or hold harmless
each such person.

 

	5.	VESTING SCHEDULE.

 

		(1)	No Options shall be vested in the first two (2) years from the Grant Date (the “Two-Year Restriction”);

 

		(2)	Following the end of Two-Year Restriction, 50% of the Options shall be vested;

 

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		(3)	Following the end of the third anniversary of the Grant Date, 75% of the Options cumulatively shall be
vested; and

 

		(4)	On the date of the fourth anniversary of the Grant Date, 100% of the Options cumulatively shall be vested;

 

provided that in the
event of retirement, death, or permanent injury due to occupational hazards during the employment, if within the Two-Year Restriction,
50% will be vested; if after the Two-Year Restriction but before the end of the third year, 75% will be vested; if after the beginning
of the fourth year, 100% will be vested.

 

	6.	EXERCISE PRICE.

 

The
per Option Share exercise price for the ordinary shares to be issued pursuant to the exercise of an Option shall be such price as is determined
by the Board, the CEO, or other senior officer(s) designated by the Board and set forth in the applicable Option agreement but shall not
be less than the par value per share. Notwithstanding the foregoing, exercise price of Incentive Stock Option granted to U.S. Taxpayer
Participants shall be subject to the following:

 

		(1)	granted to a U.S. Taxpayer Participant Employee who at the time of grant is a Ten Percent Holder, the
per share exercise price shall be no less than one hundred ten percent (110%) of the Fair Market Value on the date of grant;

 

		(2)	grant to any other U.S. Taxpayer Participant Employee, the per Share exercise price shall be no less than
one hundred percent (100%) of the Fair Market Value on the date of grant.

 

	7.	EXERCISE PERIODS.

 

When the Options are vested, the Optionees
are entitled to exercise the vested Options cumulatively within the term of the Option (as defined in Section 12 hereunder).

 

	8.	METHOD OF EXERCISE.

 

		(1)	A vested Option may be exercised by the Optionee’s delivery of a notice of exercise in the form
of Notice of Exercise (attached as Exhibit II) within the respective exercise period to Company. Such notice shall specify the number
of ordinary shares with respect to which the Option is being exercised.

 

		(2)	When Company receives the payment for the exercise price for the Option Shares for which the Option is
being exercised, Company shall deliver such Option Shares to the Optionees directly.

 

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		(3)	The consideration to be paid for the shares to be issued upon exercise of an Option, including the method
of payment, shall be determined by the Board, the CEO, or other senior officer(s) designated by the Board (and, in the case of an Incentive
Stock Option granted to a U.S. Taxpayer Participant and to the extent required by the U.S. applicable laws, shall be determined at the
time of grant) and shall consist entirely of cash; provided that the consideration shall not be less than the aggregate par value of the
relevant shares.

 

		(4)	EXERCISE OF OPTION

 

General.

 

		a.	Any Option granted hereunder shall be exercisable at such times and under such conditions as proposed
by the CEO or other senior officer(s) designated by the Board and approved by the Board, consistent with the terms of the Plan and reflected
in the applicable Option agreement, including vesting requirements and/or performance criteria with respect to the Company, its Affiliates,
and/or the Optionee; provided that in no event shall any Option be exercised after the tenth anniversary of its grant date.

 

		b.	An Option may not be exercised for a fraction of a share. The CEO or other senior officer(s) designated
by the Board may require that an Option be exercised as to a minimum number of shares, provided that such requirement shall not prevent
an Optionee from exercising the full number of shares as to which the Option is then exercisable.

 

		c.	An Option shall be deemed exercised when (a) the Notice of Exercise has been received by the Company in
accordance with the terms of the applicable Option agreement by the person entitled to exercise the Option, (b) the Company has received
full payment for the shares with respect to which the Option is exercised and (c) the Participant has paid, or made arrangements to satisfy,
any applicable taxes, withholding, required deductions or other required payments in accordance with Section 10 below.

 

		d.	The issue of shares upon the exercise of an Option shall result in a decrease in the number of shares
that thereafter may be available, both for purposes of the Plan and for sale under the Option, by the number of shares as to which the
Option is exercised.

 

		e.	Until the issuance of the shares (as evidenced by the appropriate entry in the register of members of
the Company), no right to vote or receive dividends or any other rights as a holder of shares shall exist with respect to the Option Shares,
notwithstanding the exercise of the Option. No adjustment will be made for a dividend or other right for which the
record date is prior to the date the shares are issued, except as provided below in Section 11.

 

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Exercise Following
Termination of Employment.

 

		a.	Termination
for Reasons Other Than Cause, Death, Disability.

 

If the Participant's
employment is terminated for any reason other than Cause, death or Disability, the Participant may exercise the vested portion of the
Option, but only within such period of time ending on the earlier of: (a) the date one (1) month (three (3) months for Incentive Stock
Option) following the termination of the Participant's employment or (b) the term of the Option pursuant to Section 12 hereof. Any unvested
Options shall be deemed cancelled and forfeited as of the termination date.

 

		b.	Termination
for Cause.

 

If the Participant's
employment is terminated for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be exercisable. Any
unvested Options shall be deemed cancelled and forfeited as of the termination date.

 

		c.	Termination
due to Disability.

 

If the Participant's
employment terminates as a result of the Participant's Disability, the Participant may exercise the vested portion of the Option, but
only within such period of time ending on the earlier of: (a) the date twelve (12) months following the Participant's termination of the
employment or (b) the term of the Option pursuant to Section 12 hereof. Any unvested Options shall be deemed cancelled and forfeited as
of the termination date.

 

		d.	Termination due to Death.

 

If the Participant's
employment terminates as a result of the Participant's death, the vested portion of the Option may be exercised by the Participant's estate,
by a person who acquired the right to exercise the Option by bequest or inheritance or by the person designated to exercise the Option
upon the Participant's death, but only within the time period ending on the earlier of: (a) the date three (3) months following the Participant's
termination of employment or (b) the term of the Option pursuant to Section 12 hereof. Unvested Options shall be deemed cancelled and
forfeited upon the Participant’s death.

 

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		e.	In the event a Participant’s termination of employment occurs, any Options vested to such Participant,
which have not been exercised by the Participant prior to or at the relevant due date stated above, shall be deemed cancelled and forfeited
upon such due date.

 

Exercise Following Leave from Work.

 

In the event a leave application (including
but not limited to leave of absence and maternity leave) by a Participant is approved by the Company or its Affiliates, the Participant
may exercise his or her vested Options within one month following the day the leave starts. If the Participant fails to exercise within
this one-month period, the Participant cannot exercise his or her vested Options until the Participant returns to work. The vesting period
under Section 5 on the unvested Options granted to the Participant shall be tolled (stop running) during the day the leave starts and
the day he or she returns to work and shall resume when the Participant returns to work.

 

	9.	OPTION NONTRANSFERABLE.

 

Other than by will
or the laws of descent and distribution, the Optionee may not sell, transfer, assign, pledge or otherwise dispose of any Option granted
under this Plan unless approved by the CEO or other senior officer(s) designated by the Board.

 

	10.	TAXES

 

		(1)	As a condition of the grant, vesting and exercise of an Award, the Participant (or in the case of the
Participant’s death or a permitted transferee, the person holding or exercising the Award) shall make such arrangements as the CEO
or other senior officer(s) designated by the Board may require for the satisfaction of any applicable local or foreign tax, withholding,
and any other required deductions or payments that may arise in connection with such Award. The Company shall not be required to issue
any shares under the Plan until such obligations are satisfied. Regardless of any action the Company and/or the Participant takes with
respect to the Tax Obligation, Participant acknowledges that the ultimate liability for all Tax Obligations is and remains Participant’s
sole responsibility and may exceed the amount actually withheld by the Company.

 

		(2)	If the Option granted to the Participant herein is an Incentive Stock Option and the Participant is a
U.S. taxpayer, and if the Participant sells or otherwise disposes of any of the shares acquired pursuant to the Incentive Stock Option
on or before the later of (i) the date two (2) years after the date of grant of Options, or (ii) the date one (1) year after the date
of exercise, the Participant shall immediately notify the Company in writing of such disposition. The Participant agrees that the Participant
may be subject to a Tax Obligation by the Company on the compensation income recognized by the Participant.

 

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	11.	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, MERGER OR CERTAIN OTHER TRANSACTIONS.

 

		(1)	In the event of a Corporate Transaction, each outstanding Award (vested or unvested) will be treated as
the CEO or other senior officer(s) designated by the Board determines, which determination may be made without the consent of any Participant
and need not treat all outstanding Awards (or portion thereof) in an identical manner. Such determination, without the consent of any
Participant, may provide (without limitation) for one or more of the following in the event of a Corporate Transaction: (A) the termination
or continuation of such outstanding Awards by the Company (if the Company is the surviving corporation); (B) the assumption of such outstanding
Awards by the surviving corporation or its parent; or (C) the substitution by the surviving corporation or its parent of new options or
equity awards for such Awards. If the Award is continued, the Board, CEO or other senior officer(s) designated by the Board may make further
adjustments in accordance with the terms of this Section 11(2).

 

		(2)	Subject to any action required under applicable laws by the holders of shares, and for Options granted
to a U.S. Taxpayer Participant subject to the requirements of Code sections 422, 424 and 409A, as applicable, in the event that the Board,
the CEO, or other senior officer(s) designated by the Board shall determine that any share dividend, split,
spin-off, repurchase, recapitalization, reorganization, combination, or share exchange, or other similar corporate transaction or event
has occurred, which does not constitute a Corporate Transaction, then the Board, the CEO, or other
senior officer(s) designated by the Board shall make such equitable changes or adjustments as it deems necessary or appropriate to any
or all of (i) the number and class of the Company shares or other stock or securities which may thereafter be issued in connection with
future Awards or the outstanding Award under Section 2 hereof, (ii) the exercise price per share
of each outstanding Option, (iii) any repurchase price per share applicable to shares issued pursuant to any Award, and any such adjustment
by the CEO or other senior officer(s) designated by the Board shall be made in the CEO’s or the senior officer(s)’ sole and
absolute discretion and shall be final, binding and conclusive.

 

If, by reason of a transaction
described in this Section 11 or an adjustment pursuant to this Section 11, a Participant’s Award agreement or agreement related
to any Option Shares covers additional or different shares or other securities, then such additional or different shares, and the Award
agreement or agreement related to the Option Shares in respect thereof, shall be subject to all of the terms, conditions and restrictions
which were applicable to the Award and Option Shares prior to such adjustment.

 

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		(3)	Except as expressly provided herein, no issuance by the Company of shares any class, or securities convertible
into shares of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares
subject to an Award.

 

		(4)	In the event of the dissolution or liquidation of the Company, each Award will terminate immediately prior
to the consummation of such action, unless otherwise determined by the CEO or other senior officer(s) designated by the Board.

 

		(5)	The existence of this Plan, the Option agreements and the Awards granted hereunder shall not limit, affect
or restrict in any way the right or power of the Board or the holders of capital stock of the Company to make or authorize: (a) any adjustment,
recapitalization, reorganization or other change in the capital structure or business of the Company or any Affiliates, (b) any merger,
amalgamation, consolidation or change in the ownership of the Company or any Affiliates, (c) any issue of bonds, debentures, capital,
preferred or prior preference stock ahead of or affecting the capital stock (or the rights thereof) of the Company or any Affiliates,
(d) any dissolution or liquidation of the Company or any Affiliates, (e) any sale or transfer of all or any part of the assets or business
of the Company or any Affiliates, or (f) any other corporate act or proceeding by the Company or any Affiliates. No Participant, beneficiary
or any other person shall have any claim under any Award or Option agreement against any member of the Board, the CEO, or other senior
officer(s) designated by the Board, or the Company or any employees, officers or agents of the Company or any Affiliates, as a result
of any such action.

 

	12.	TERM.

 

Options under this Plan must be granted
within ten (10) years from the earlier of: (a) the Effective Date; or (b) the date the Plan was approved by the shareholders of the Company,
after which no further Options shall be granted but the provisions of this Plan shall remain in full force and effect to the extent necessary
to give effect to the exercise of any Options granted prior thereto or otherwise as may be required in accordance with the provisions
of this Plan.

 

The term of each Option shall be five
(5) years from the Grant Date; provided that the term shall be no more than ten (10) years from the date of grant thereof or such
shorter term as may be provided in the Option agreement (if any) and provided further that, in the case of an Incentive Stock Option
granted to a U.S. Taxpayer Participant who at the time of such grant is a Ten Percent Holder, the term of the Option shall be five (5)
years from the date of grant thereof or such shorter term as may be provided in the Incentive Stock Option Agreement. Any Options not
exercised during the term shall be cancelled and forfeited.

 

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	13.	TIME OF GRANTING AWARDS.

 

The
date of grant of an Award shall, for all purposes, be the date on which the CEO or other senior officer(s) designated by the Board makes
the determination granting such Award, or such other date as is determined by the CEO or other senior officer(s) designated by the Board.

 

	14.	CONDITIONS UPON ISSUANCE OF SHARES.

 

Notwithstanding
any other provision of the Plan or any agreement entered into by the Company pursuant to the Plan, the Company shall not be obligated,
and shall have no liability for failure, to issue or deliver any shares under the Plan unless such issuance or delivery would comply with
applicable laws, with such compliance determined by the Company in consultation with its legal counsel. 

 

	15.	APPROVAL OF HOLDERS OF SHARES.

 

If
required by applicable laws, including any applicable provisions of Section 422 of the Code and the regulations promulgated thereunder,
continuance of the Plan shall be subject to approval by the holders of shares of the Company by an Ordinary Resolution within twelve (12)
months before or after the date the Plan is adopted or, to the extent required by applicable laws, any date the Plan is amended. Such
approval shall be obtained in the manner and to the degree required under the Articles of the Company.

 

	16.	NOT EMPLOYMENT CONTRACT.

 

Nothing in this Plan shall confer upon
the Optionee any right with respect to continued employment with Company or its Affiliates, nor shall it interfere with or restrict in
any way the rights of Company or its Affiliates, to terminate the Optionee’s employment at any time.

 

	17.	ADDENDA.

 

The
CEO or other senior officer(s) designated by the Board may approve such addenda to the Plan as it may consider necessary or appropriate
for the purpose of granting Awards to Employees, directors or consultants, which Awards may contain such terms and conditions as the CEO
or other senior officer(s) designated by the Board deems necessary or appropriate to accommodate differences in local law, tax policy
or custom, which may deviate from the terms and conditions set forth in this Plan. The terms of any such addenda shall supersede the terms
of the Plan to the extent necessary to accommodate such differences but shall not otherwise affect the terms of the Plan as in effect
for any other purpose.

 

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	18.	NOTICES.

 

		(1)	All notices or communications under this Plan shall be in writing and sent by registered or certified
mail to the Company at the address as follows: 14F, No. 98, Minquan Road, Xindian Dist., New Taipei City, Taiwan
231, or to such other address as the Company may designate in writing from time to time.

 

		(2)	Any such notices or communications shall be sent by registered or certified mail, return receipt requested
and shall be deemed received seven days after it has been put into the post. Either party may from time to time change its notice address
by written notice to the other party.

 

	19.	APPLICABLE LAW AND DISPUTE.

 

This Plan and all Options granted hereunder
shall be governed by and construed in accordance with the laws of Cayman Islands (without regard to their choice-of-law provisions).

 

Any dispute, controversy, difference
or claim arising out of or relating to this Plan, including the existence, validity, interpretation, performance, breach or termination
thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved
by (2) arbitrations administered by the Chinese Arbitration Association, Taipei (“CAA”) under the Taiwanese Arbitration
Act and the CAA Arbitration Rules.

 

[The remainder of this page is intentionally left
blank]

 

    14

     

    

 

EXHIBIT I

 

2021 STOCK COMPENSATION
PLAN

 

GRANT NOTICE

 

Dear Mr./Ms. _________,

 

You have been granted
an Option to purchase ________ ordinary shares of Perfect Corp. (“Company “) under the 2021 Stock Compensation Plan,
as follows:

 

	 	Date
    of Grant:	___________,
    2021	 
	 	 	 	 
	 	Exercise
    Price Per Share:	US$_________	 
	 	 	 	 
	 	Term/Expiration
    Date:	[●],
    20_____	 

 

The terms and conditions
of such Option shall be as set forth in the 2021 Stock Compensation Plan

 

PERFECT CORP.

 

	 	 
	Name:	 
	Title:	 

 

    15

     

    

 

EXHIBIT II

 

Notice of Exercise

 

This notice is
given by the undersigned pursuant to the 2021 STOCK COMPENSATION PLAN (the “Plan”) dated December 13, 2021 adopted
by Perfect Corp. (the “Company”) and for the undersigned to exercise the Options to purchase ___ shares of the Company’s
ordinary shares (the “Purchased Shares”) at the Option exercise price of US$________ per share (the “Exercise
Price”).

 

By delivering this
Notice of Exercise to Company, the undersigned agrees to pay the Exercise Price within ten days upon receiving the payment instruction
from Company in accordance with the provisions of the Plan, and agrees to deliver such additional documents as may be requested pursuant
to the Plan or the applicable law.

 

The undersigned
also agrees that this Option is exercised and the Purchased Shares to be issued in accordance with the terms and conditions set forth
in 2021 STOCK COMPENSATION PLAN.

 

	Ø	Print
                                            Name in exact manner it is to appear on the share certificate:	 
	 	 	 

 

	Ø	Address
                                            to which share certificate is to be sent:	 
	 	 	 

 

	Ø	Passport
                                            No.:	 
	 	 	 

 

	Signature:	 	 	 

 

	Dated	                               ,
                        

 

    16

     

    

 

EXHIBIT III

 

Incentive Stock
Option Agreement

 

This Incentive Stock
Option Agreement (this "Agreement") is made and entered into as of [DATE] by and between Perfect Corp., a company incorporated
in the Cayman Islands with limited liability (the "Company") and [EMPLOYEE NAME] (the "Participant").
Capitalized terms used but not defined herein will have the meaning ascribed to them in the Plan.

 

Grant Date: ____________________________________

Exercise Price per
Share: __________________________

Number of Option Shares:
_________________________

Expiration Date: _________________________________

 

1.            
Grant of Option.

 

1.1             
Grant; Type of Option. The Company hereby grants to the Participant an option (the "Option")
to purchase the total number of the ordinary shares of the Company equal to the number of Option Shares set forth above, at the Exercise
Price set forth above. The Option is being granted pursuant to the terms of the Company's 2021 Incentive Stock Option Plan (the "Plan").
The administration of the Plan is subject to the Board of the Company, the CEO, or the senior officer(s) designated by the Board from
time to time for administration of the Plan. The Option is intended to be an Incentive Stock Option within the meaning of Section 422
of the Code, although the Company makes no representation or guarantee that the Option will qualify as an Incentive Stock Option. To
the extent that the aggregate Fair Market Value (determined on the Grant Date) of the ordinary shares with respect to which Incentive
Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and its
Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to the order in which they were granted)
shall be treated as non-qualified stock options.

 

1.2             
Consideration; Subject to Plan. The grant of the Option is made in consideration of the services
to be rendered by the Participant to the Company and/or the Company’s Affiliates and is subject to the terms and conditions of
the Plan.

 

2.            
Exercise Period; Vesting.

 

2.1             
Vesting Schedule. The Option will become
vested according to the below schedule until 100% vested.

 

(a)              
No Options shall be vested in the first two (2) years from the Grant Date (the “Two-Year
Restriction”); 

 

(b)              
Following the end of Two-Year Restriction, 50% of the Options shall be vested; 

 

(c)              
Following the end of the third anniversary of the Grant Date,
75% of the Options cumulatively shall be vested; and

 

    17

     

    

 

(d)              
 On the date of the fourth anniversary of the Grant Date,
100% of the Options cumulatively shall be vested; 

 

provided
that in the event of retirement, death, or permanent injury due to occupational hazards during the employment, if within the Two-Year
Restriction, 50% will be vested; if after the Two-Year Restriction but before the end of the third year, 75% will be vested; if after
the beginning of the fourth year, 100% will be vested.

 

2.2             
Expiration. The term of each Option shall be five (5) years from the date of grant; provided
that, in the case of an Incentive Stock Option granted to a U.S. Taxpayer Participant who at the time of such grant is a Ten Percent
Holder, the term of the Option shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the
Incentive Stock Option Agreement. Any Options not exercised during the term shall be cancelled and forfeited.

 

3.            
Termination of Employment.

 

3.1             
Termination for Reasons Other Than Cause, Death, Disability. If the Participant's employment
is terminated for any reason other than Cause, death or Disability, the Participant may exercise the vested portion of the Option, but
only within such period of time ending on the earlier of: (a) the date three (3) months following the termination of the Participant's
employment or (b) the term of the Option pursuant to Section 2.2 hereof. Any unvested Options shall be deemed cancelled and forfeited
as of the termination date.

 

3.2             
Termination for Cause. If the Participant's employment is terminated for Cause, the Option
(whether vested or unvested) shall immediately terminate and cease to be exercisable. Any unvested Options shall be deemed cancelled
and forfeited as of the termination date.

 

3.3             
Termination due to Disability. If the Participant's employment terminates as a result of
the Participant's Disability, the Participant may exercise the vested portion of the Option, but only within such period of time ending
on the earlier of: (a) the date twelve (12) months following the Participant's termination of employment or (b) the term of the Option
pursuant to Section 2.2 hereof. Any unvested Options shall be deemed cancelled and forfeited as of the termination date.

 

3.4             
Termination due to Death. If the Participant's
Employment terminates as a result of the Participant's death, the vested portion of the Option may be exercised by the Participant's
estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by the person designated to exercise the
Option upon the Participant's death, but only within the time period ending on the earlier of: (a) the date three (3) months following
the Participant's termination of Employment or (b) the term of the Option pursuant to Section 2.2 hereof. Any unvested Options shall
be deemed cancelled and forfeited as of the termination date.

 

4.             Exercise
Following Leave from Work. In the event a leave application (including but not limited to leave of absence and maternity leave)
by a Participant is approved by the Company or its Affiliates, the Participant may exercise his or her vested Options within one
month following the day the leave starts. If the Participant fails to exercise within this one-month period, the Participant cannot
exercise his or her vested Options until the Participant returns to work. The vesting period under Section 5 of the Plan on the
unvested Options granted to the Participant shall be tolled (stop running) during the day the leave starts and the day he or she
returns to work and shall resume when the Participant returns to work.

 

    18

     

    

 

5.            
Manner of Exercise.

 

5.1             
Election to Exercise. To exercise the Option, the Participant (or in the case of exercise
after the Participant's death or incapacity, the Participant's executor, administrator, heir or legatee, as the case may be) must deliver
to the Company the Notice of Exercise attached as Exhibit II of the Plan;

 

If
someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company
verifying that such person has the legal right to exercise the Option.

 

5.2             
Payment of Exercise Price. The entire exercise price of the Option shall be payable in full
at the time of exercise in the manner designated by the Board, the CEO or other senior officer(s) designated by the Board.

 

5.3             
Issuance of Shares. Provided that the
Notice of Exercise and payment are in form and substance satisfactory to the Company, the Company shall issue the ordinary shares registered
in the name of the Participant, the Participant's authorized assignee, or the Participant's legal representative which shall be evidenced
by stock certificates representing the shares with the appropriate legends affixed thereto, appropriate entry on the books of the Company
or of a duly authorized transfer agent, or other appropriate means as determined by the Company.

 

6.            
No Anti-Dilution. Where the Company capitalizes the retained earnings and/or capital reserves
after the issuance of the Options, or there is any capital increase or decrease by the Company the total number of shares relating to
the Options granted, whether vested or not, shall not be adjusted.

 

7.            
No Right to Continued Employment; No Rights as Shareholder.
Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as an Employee, consultant
or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company
to terminate the Participant's employment at any time, with or without Cause. The Participant shall not have any rights as a shareholder
with respect to any ordinary shares subject to the Option unless and until certificates representing the shares have been issued by the
Company to the holder of such shares, or the shares have otherwise been recorded on the books of the Company or of a duly authorized
transfer agent as owned by such holder.

 

8.            
Transferability. The Option is not transferable
by the Participant other than to a designated beneficiary upon the Participant's death or by will or the laws of descent and distribution
and is exercisable during the Participant's lifetime only by him or her. No assignment or transfer of the Option, or the rights represented
thereby, whether voluntary or involuntary, by operation of law or otherwise (except to a designated beneficiary, upon death, by will
or the laws of descent or distribution) will vest in the assignee or transferee any interest or right herein whatsoever, but immediately
upon such assignment or transfer the Option will terminate and become of no further effect.

 

    19

     

    

 

9.            
 Tax Matters.

 

9.1             
As a condition of the grant, vesting and exercise of an Option, the Participant shall make such arrangements as the Board, the
CEO or other senior officer(s) designated by the Board may require for the satisfaction of any applicable local or foreign tax, withholding,
and any other required deductions or payments that may arise in connection with such Options. The Company shall not be required to issue
any shares under the Plan until such obligations are satisfied. Regardless of any action the Company and/or the Participant takes with
respect to the tax obligation, the Participant acknowledges that the ultimate liability for all tax obligations is and remains the Participant’s
sole responsibility and may exceed the amount actually withheld by the Company.

 

9.2             
The shares granted hereby are intended to qualify as Incentive Stock Options under Section 422 of the Code. Notwithstanding
the foregoing, the shares will not qualify as Incentive Stock Options, if, among other events, (i) the dispose of the shares acquired
upon exercise of Options within two (2) years from the Grant Date or one (1) year after such shares were acquired pursuant to exercise
of Options; (ii) except in the event of death or Disability, the Participant is not employed by the Company or its Affiliates at
all times during the period beginning on Grant Date and ending on the day that is three (3) months before the date of exercise of
any shares; or (iii) to the extent the aggregate Fair Market Value (determined as of the Grant Date)
of the ordinary shares subject to Incentive Stock Options held by the Participant which becomes exercisable for the first time in any
calendar year exceeds $100,000.

 

9.3             
To the extent that any share does not qualify as an Incentive Stock Option, it shall not affect the validity of such shares and
shall constitute a separate non-qualified stock option. In the event that the Participant disposes of the shares acquired upon exercise
of Options within two (2) years from the Grant Date or one (1) year after such shares were acquired pursuant to exercise of this option,
regardless of whether such disposition was a transfer to a trustee, receiver, or other similar fiduciary in any bankruptcy or insolvency
proceeding, the Participant must immediately deliver to the Company a written notice specifying the date on which such shares were disposed
of, the number of shares so disposed, and, if such disposition was by a sale or exchange, the amount of consideration received. The Participant
also agrees to provide the Company with any information concerning any such dispositions as the Company requires for tax purposes Additionally,
the Participant agrees that he/she may be subject to a tax obligation by the Company on the compensation income recognized by such Participant.

 

9.4             
The intent of the parties is that benefits under this Agreement be exempt from the provisions of
Section 409A of the Code and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be limited, construed
and interpreted in accordance with such intent. In no event whatsoever shall the Company be liable for any additional tax, interest or
penalties that may be imposed on the Participant by Section 409A of the Code or any damages for failing to comply with Section 409A
of the Code hereunder or otherwise.

 

10.        
Compliance with Law. The exercise of the Option
and the issuance and transfer of the ordinary shares shall be subject to compliance by the Company and the Participant with all applicable
requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's ordinary
shares may be listed.

 

    20

     

    

 

No shares shall be
issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies have
been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no
obligation to register the shares with the Securities and Exchange Commission, any state securities commission or any stock exchange
to effect such compliance.

 

11.        
Notices. All
notices or communications under this Agreement shall be in writing and sent by registered or certified mail to the Company at the address
as follows: 14F, No. 98, Minquan Road, Xindian Dist., New Taipei City, Taiwan 231.

 

Any
notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant's
address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved
by the Company) from time to time.

 

12.        
Governing Law.
This Agreement will be construed and interpreted in accordance with the laws of Cayman Islands without regard to conflict of law principles.

 

Any
dispute, controversy, difference or claim arising out of or relating to this Plan, including the existence, validity, interpretation,
performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall
be referred to and finally resolved by (2) arbitrations administered by the Chinese Arbitration Association, Taipei (“CAA”)
under the Taiwanese Arbitration Act and the CAA Arbitration Rules.

 

13.        
Options Subject to Plan. This Agreement is subject
to the Plan pursuant to the Company shareholders’ approval. The terms and provisions of the Plan as it may be amended from time
to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a
term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

 

14.        
Successors and Assigns. The Company may assign
any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of
the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's
beneficiaries, executors, administrators and the person(s) to whom this Agreement may be transferred by will or the laws of descent or
distribution.

 

15.        
Severability. The invalidity or unenforceability
of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or
this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

 

16.        
Discretionary Nature of Plan. The Plan is discretionary
and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement
does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will
be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment
of the terms and conditions of the Participant's employment with the Company.

 

    21

     

    

 

17.        
 Amendment. The Committee has the right to amend,
alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that, no such amendment shall adversely affect
the Participant's material rights under this Agreement without the Participant's consent.

 

18.        
No Impact on Other Benefits.
The value of the Participant's Option is not part of his or her normal or expected compensation for purposes of calculating any severance,
retirement, welfare, insurance or similar employee benefit.

 

19.        
Confidentiality. This Agreement and the contents hereof shall be confidential and the Participant
shall not disclose to or discuss with any third party the receipt of this Agreement nor the contents hereof; except that if the Participant
has any questions, he/she may contact the CEO of the Company directly. The Participant shall not ask or discuss with any other employees
of the Company or any of its Affiliates in connection with the Options granted under the Plan, including but not limited to the relevant
agreements and notices issued. Violation of the requirements under this paragraph will be deemed a material violation of a written policy
of the Company, which will entitle the Company to terminate the employment agreement for cause, thereby causing forfeiting of all of
the Options granted whether vested or unvested and all of the Options granted being terminated and void.

 

20.        
Counterparts. This Agreement may be executed
in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

 

21.        
Acceptance. The Participant hereby acknowledges
receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts
the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant acknowledges that there may be
adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the Participant should consult
a tax advisor prior to such exercise or disposition.

 

[signature
page follows]

 

    22

     

    

 

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

 

	Perfect Corp.	 
	 	 	 
	By	      	 
	Name:	 	 
	Title:	 	 
	 	 	 
	[EMPLOYEE NAME]	 
	 	 	 
	By	 	 
	Name:	 	 

 

    23

     

    

 

FORM OF CONFIRMATION
LETTER FOR SHARE ISSUANCE

 

Perfect Corp.

PO Box 309, Ugland
House

Grand Cayman, KY1-1104

Cayman Islands

To: Maples
Corporate Services Limited

53rd
Floor, The Center

99 Queen's Road
Central

Hong Kong

 

Date: _____________
2021

 

Dear Sirs

 

Perfect Corp. (the
 “Company”) – Issue of Common Shares pursuant to 2021 Stock Compensation Plan

 

I hereby confirm,
on behalf of the Board of Directors of the Company, that you are instructed to make entries in the Register of Members of the Company
in order to record and give effect to the issue of 30,000,000 Common shares of par value of US$0.1 each in the Company, pursuant to the
2021 Stock Compensation Plan (the "Plan") approved by the written resolutions of the Board of Directors of the Company dated
December 13, 2021.

 

I confirm, on behalf
of the Board of Directors of the Company, that the Exercise Price set out in the Plan and all required fees and charges have been received
in full by the Company.

 

This issue of shares
complies with all relevant provisions of the Memorandum and Articles of Association of the Company, the Plan and the other applicable
share option award agreement and the employee share incentive plan under which such shares are issued.

 

Yours faithfully

 

	 	 
	Name:	 
	Director	 
	For and on behalf of	 
	Perfect Corp.	 

 

    24Exhibit 10.14

Execution Version

 

Perfect
Corp.

 

SERIES
C PREFERRED SHARE SUBSCRIPTION AGREEMENT

 

Dated

 

December 11, 2020

 

     

     

    

 

Table of Contents

 

	1.   Definitions and Interpretations	2
	1.1	Certain Defined Terms	2
	1.2	Interpretations	15
	2.   Authorization, Subscription and Issuance of the Investor Shares	16
	2.1	Authorization	16
	2.2	Subscription and Issuance of the Investor Shares	16
	3.   Closing and Delivery	17
	3.1	Closing	17
	3.2	Deliveries by the Company at or prior to the Closing	17
	3.3	Use of Proceeds	18
	4.   Conditions to the Investor’s Obligations	18
	4.1	Representations and Warranties	18
	4.2	Authorizations	19
	4.3	Proceedings and Documents	19
	4.4	Covenants	19
	4.5	No Action	19
	4.6	Compliance Certificate	19
	4.7	Restated Articles	19
	4.8	Transaction Documents	19
	4.9	Approval	20
	4.10	Board of Directors	20
	4.11	No Material Adverse Effect	20
	4.12	Due Diligence	20
	4.13	Legal Opinions	20
	4.15	Latest Financials	20
	4.16	Closing Deliveries	20
	4.17	MC Side Letter	20
	5.   Conditions to the Company’s Obligations	20
	5.1	Representations and Warranties	20
	5.2	Covenants	20
	5.3	Authorizations	21
	5.4	No Action	21
	5.5	Transaction Documents	21
	6.   Warrantors’ Representations and Warranties	21
	6.1	Organization, Good Standing and Qualification	21
	6.2	Capitalization and Voting Rights	21
	6.3	Corporate Structure and Subsidiaries	24
	6.4	Power and Authority	25
	6.5	Authorization	25
	6.6	Consents and No Conflicts	25
	6.7	Offering	26
	6.8	Valid Issuance of Shares	26

 

    i

     

    

 

	6.9	Compliance with Laws	26
	6.10	Actions	27
	6.11	Charter Documents; Books and Records	27
	6.12	Financial Statements	28
	6.13	Changes	29
	6.14	Liabilities	30
	6.15	Tax Matters	30
	6.16	Material Contracts and Obligations	33
	6.17	Anti-Bribery, Anti-Corruption, Anti-Money Laundering and Sanctions; Absence of Government Interests	34
	6.18	Property and Assets	36
	6.19	Related Party Transaction	37
	6.20	Intellectual Property	37
	6.21	Data Privacy and Security	42
	6.22	Labor and Employment Matters	44
	6.23	Insurance	46
	6.24	Internal Controls	46
	6.25	No Brokers	46
	6.26	No General Solicitation	46
	6.27	Non-compete	47
	6.28	No Undisclosed Business	47
	6.29	Status	47
	6.30	Founder Acknowledgement	47
	6.31	PRC Person	47
	6.32	Disclosure	47
	6.33	Separate and Independent Representation and Warranty	48
	7.   Investor’s Representations and Warranties	48
	7.1	Authorization	48
	7.2	Purchase Entirely for Own Account	48
	7.3	Information and Sophistication	48
	7.4	Restricted Securities	48
	7.5	Non-PRC Person	48
	8.   Covenants	49
	8.1	Executory Period Covenants	49
	8.2	Exclusivity	50
	8.3	Intellectual Property	50
	8.4	Data Privacy and Security	50
	8.5	Compliance Policies and Training	51
	8.6	Improvement of Internal Control System	51
	8.7	Filing of the Restated Articles	51
	8.8	Compliance with Material Contracts and Law	51
	8.9	PRC Person	51
	8.10	PRC Investment Regulations Compliance	52
	8.11	Related Party Transactions	52
	8.12	Payment of Stamp Duty by Perfect Taiwan	52
	8.13	NDA Amendment or Supplement	52
	8.14	Further Assurances	52

 

    ii

     

    

 

	9.   Confidentiality and Announcement	53
	9.1	Confidential Information	53
	9.2	Permitted Disclosures	53
	9.3	Legally Compelled Disclosure	53
	9.4	Press Release	54
	9.5	Use of Logo	54
	9.6	No Promotion	54
	9.7	Other Information	54
	10. Termination	55
	10.1	Termination	55
	10.2	Effect of Termination and Survival	55
	11. Indemnification	55
	12. Miscellaneous	57
	12.1	Survival of Representations and Warranties	57
	12.2	Successors and Assigns	57
	12.3	Amendments and Waivers	57
	12.4	No Waiver	58
	12.5	Validity of the Agreement	58
	12.6	Entire Agreement	58
	12.7	Notices	58
	12.8	No Partnership	59
	12.9	Severability	59
	12.10	Governing Law	59
	12.11	Dispute Resolution	59
	12.12	Fees and Expenses	59
	12.13	No Presumption	60
	12.14	Delays or Omissions	60
	12.15	Titles and Subtitles	60
	12.16	Counterparts	60
	12.17	Joint and Several Liabilities	60
	12.18	Obligations of Investors	60
	12.19	Rights Cumulative; Specific Performance	60
	12.20	Third Party Rights	61
	12.21	No Fiduciary Duty	61
	12.22	Investment Bank Services	61
	12.23	Exculpation Among Investors	61

 

    iii

     

    

 

INDEX OF EXHIBITS

 

	Exhibit A	SCHEDULE OF THE FOUNDER AND THE FOUNDER HOLDING COMPANIES
	 	 
	Exhibit B	SCHEDULE OF INVESTORS
	 	 
	Exhibit C	CAPITALIZATION TABLE IMMEDIATELY PRIOR TO AND FOLLOWING THE CLOSING
	 	 
	Exhibit D	DISCLOSURE SCHEDULE
	 	 
	Exhibit E	FORM OF COMPLIANCE CERTIFCATE
	 	 
	Exhibit F	FORM OF SHAREHOLDERS AGREEMENT
	 	 
	Exhibit G	FORM OF RESTATED ARTICLES
	 	 
	Exhibit H	FORM OF DIRECTOR INDEMNIFICATION AGREEMENT
	 	 
	Exhibit I	LIST OF KEY EMPLOYEES
	 	 
	Exhibit J	SPECIFIC INDEMNIFICATION EVENTS
	 	 
	Exhibit K	IDENTIFIED BRANDS
	 	 
	Exhibit L	FORM OF CAYMAN LEGAL OPINION
	 	 
	Exhibit M	FORM OF TAIWAN LEGAL OPINION

 

    iv

     

    

 

SERIES
C PREFERRED SHARE SUBSCRIPTION AGREEMENT

 

This SERIES
C PREFERRED SHARE Subscription Agreement (this “Agreement”) is dated as of December 11, 2020 (the “Effective
Date”),

 

BY AND AMONG

 

		(1)	Perfect Corp., an exempted company incorporated in the Cayman Islands whose registered office is
located at PO Box 309, Ugland House, Grand Cayman, KY1-1104 (the “Company”);

 

		(2)	Perfect Mobile Corp., a company duly incorporated and validly existing under the laws of the British
Virgin Islands with its registered address at Sea Meadow House, Blackburne Highway, (P.O. Box 116), Road Town, Tortola, British Virgin
Islands (“Perfect BVI”);

 

		(3)	Perfect Mobile Limited (玩美移動股份有限公司),
a company duly incorporated and validly existing under the laws of Hong Kong with its registered address at Unit 706, Haleson Building,
No. 1 Jubilee Street, Hong Kong (香港中環租庇利街1號喜訊大廈706室)
(“Perfect HK”);

 

		(4)	Perfect Corp. (パーフェクト株式会社),
a company duly incorporated and validly existing under the laws of Japan (Corporate No. 3010401117117) with its registered address at
3-5-39 Shibaura, Minato-ku, Tokyo 108-0023 Japan (東京都港区芝浦三丁目5番39号)
(“Perfect Japan”);

 

		(5)	Perfect Corp (Shanghai) Co., Ltd. (玩美商贸(上海)有限公司),
a company duly incorporated and validly existing under the laws of the PRC (Unified Credit No.: 91310000322242053F) with its registered
address at Room 935, 9th Floor, No.1788 West NanJing Road, JingAn District, Shanghai 200049 (上海市静安区南京西路1788号9楼935室
(1788 国际中心)), (“Perfect Shanghai”);

 

		(6)	Perfect Mobile Corp. (玩美移動股份有限公司),
a company duly incorporated and validly existing under the laws of Taiwan (GUI No. 24725102) with its registered address at 14F., 98 Minquan
Rd., Xindian District, New Taipei City, Taiwan (新北市新店區民權路98號14樓)
(“Perfect Taiwan”);

 

		(7)	Perfect Corp., a company duly incorporated and validly existing under the laws of the United States
of America (File Number: C3753247) with its registered address at 3031 Tisch Way, 110 Plaza West, San Jose, California 95128, United States
(“Perfect USA”);

 

		(8)	Ms. Alice H. Chang, a citizen of Taiwan with passport number 312667488 (the “Founder”)
and each of the holding companies wholly owned by the Founder listed on Exhibit A attached hereto (each such holding company, a
 “Founder Holding Company” and collectively, the “Founder Holding Companies”);

 

    1

    

    

 

		(9)	the person or persons listed on Exhibit B attached hereto (the “Investors” and
each, an “Investor”).

 

Each of the parties
listed above is referred to herein individually as a “Party” and collectively as the “Parties.”

 

WHEREAS

 

		(A)	The Company is seeking to obtain equity financing from the Investors in the aggregate amount of up to
US$50,000,000 for capital expenditure, business expansion and other general working capital needs;

 

		(B)	The Company has agreed to, among others things, issue to each Investor, and each Investor has agreed to
subscribe for, certain Series C Shares (as defined below) from the Company on the Closing Date, on the terms and subject to the conditions
of this Agreement; and

 

		(C)	The Parties desire to enter into this Agreement and make the respective representations, warranties, covenants
and agreements set forth herein on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the foregoing
recitals, the mutual promises hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

		1.	Definitions and Interpretations

 

		1.1	Certain Defined Terms. As used
in this Agreement, the following terms shall have the following meanings:

 

“2015 Incentive
Option Plan” means the 2015 incentive stock option plan of the Company adopted on August 10, 2015, as amended from time to time.

 

“2018 Incentive
Option Plan” means the 2018 incentive stock option plan of the Company adopted on July 30, 2018, as amended from time to time.

 

“Accounting
Standards” means the Generally Accepted Accounting Principles in Taiwan or International Financial Reporting Standards applicable
in Taiwan, as approved by the Board and as applied on a consistent basis.

 

“Action”
means any charge, claim, action, complaint, petition, investigation, appeal, suit, litigation, arbitration, grievance, inquiry or other
proceeding, whether administrative, civil, regulatory or criminal, whether at law or in equity, or otherwise under any applicable law,
and whether or not before any mediator, arbitrator or Governmental Authority.

 

“Affiliates”
means, with respect to any specified person, any other person who, directly or indirectly, controls, is controlled by, or is under
common control with, such person, including, without limitation, any general partner, managing member, officer or director of such
person or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members
of, or shares the same management company with, such person. In the case of GS, notwithstanding any other provision of this
Agreement and any other Transaction Documents to the contrary, Affiliates shall also include any fund or holding company formed for
investment purposes that is promoted, sponsored, managed or advised by The Goldman Sachs Group, Inc. or any of its Affiliates.

 

    2

    

    

 

“Agreement”
has the meaning ascribed to it in the Preamble.

 

“Anti-Corruption
Laws” means any anti-bribery- or anti-corruption-related laws or regulations that are applicable to business and transactions
of the Warrantors and their respective Affiliates, including laws and regulations relating to anti-corruption and anti-commercial bribery
in the PRC, Taiwan, the Cayman Islands, the British Virgin Islands and Japan, the U.S. Foreign Corrupt Practices Act of 1977 (the “FCPA”),
the United Kingdom Bribery Act of 2010, the Hong Kong Prevention of Bribery Ordinance, as well as applicable anti-bribery or anti-corruption
laws of other countries, each as amended from time to time.

 

“Anti-Money
Laundering Laws” means all applicable anti-money laundering laws of all jurisdictions that are applicable to business and transactions
of the Warrantors and their respective Affiliates, the rules and regulations thereunder, including all anti-money laundering laws of the
PRC, Hong Kong, Taiwan, the Cayman Islands, the British Virgin Islands, Japan, and the United States.

 

“ArcSoft
Settlement” has the meaning ascribed to it in Section 6.20(c).

 

“Associate”
means, with respect to any person, (a) a corporation or organization (other than the Group Companies) of which such person is an officer
or partner or is, directly or indirectly, the record or beneficial owner of five percent (5%) or more of any class of Equity Securities
of such corporation or organization; (b) any trust or other estate in which such person has a substantial beneficial interest or as to
which such person serves as trustee or in a similar capacity; or (c) any relative or spouse of such person, or any relative of such spouse.

 

“Benefit
Plan” means any employment Contract, deferred compensation Contract, bonus plan, incentive plan (including the 2015 Incentive
Option Plan and the 2018 Incentive Option Plan), profit sharing plan, retirement Contract or other employment compensation Contract or
any other plan which provides or provided benefits for any past or present employee, officer, consultant, and/or director of a person
or with respect to which contributions are or have been made on account of any past or present employee, officer, consultant, and/or director
of such a person.

 

“BIPA”
means the Biometric Information Privacy Act, 740 ILCS 14 et seq, as amended and interpreted from time to time.

 

“Board”
means the board of directors of Company.

 

“Books and
Records” has the meaning ascribed to it in Section 6.11.

 

“Business”
means the business operated by the Group Companies as currently conducted and as proposed to be conducted from time to time.

 

    3

    

    

 

“Business
Partners” has the meaning ascribed to it in Section 6.17(f).

 

“CCPA”
means the California Consumer Privacy Act of 2018, as amended and interpreted from time to time.

 

“Charter
Documents” means, with respect to a particular legal entity, the articles of incorporation, certificate of incorporation, formation
or registration (including, if applicable, certificates of change of name), memorandum of association, articles of association, bylaws,
articles of organization, limited liability company agreement, trust deed, trust instrument, operating agreement, joint venture agreement,
business license, or similar or other constitutive, governing, or charter documents, or equivalent documents, of such entity.

 

“Closing”
has the meaning ascribed to it in Section 3.1.

 

“Closing
Date” has the meaning ascribed to it in Section 3.1.

 

“Common Shares”
means the Company’s common shares of par value US$0.10 each, having the rights, privileges, preferences, and restrictions set forth
in the Shareholders Agreement and the Restated Articles.

 

“Company”
has the meaning ascribed to it in the Preamble.

 

“Company
IP” has the meaning ascribed to it in Section 6.20(a).

 

“Company
Owned IP” means all Intellectual Property owned by, purported to be owned by, or exclusively licensed to, the Group Companies
and includes Company Registered IP.

 

“Company
Registered IP” means all Intellectual Property for which registrations are owned by or held in the name of, or for which applications
have been made in the name of, any Group Company.

 

“Compelled
Party” has the meaning ascribed to it in Section 9.3.

 

“Compliance
Laws” has the meaning ascribed to it in Section 6.17(a).

 

“Confidential
Information” has the meaning ascribed to it in Section 9.1.

 

“Consent”
means any consent, approval, authorization, release, waiver, acknowledgement, permit, grant, franchise, concession, license, exemption
or order of, registration, certificate, declaration or filing with, or report or notice to, any person, including any Governmental Authority.

 

“Contract”
means a contract, agreement, understanding, indenture, note, bond, loan, instrument, lease, mortgage, franchise, license, commitment,
purchase order, and other legally binding arrangement, whether written or oral.

 

    4

    

    

 

“Conversion
Shares” means the Common Shares into which the Series C Shares issued under this Agreement are convertible.

 

“CyberLink”
means CyberLink International Technology Corp., an international business company duly incorporated and validly existing under the laws
of the British Virgin Islands.

 

“Data Protection
Commissioner” means the person or body in the relevant jurisdiction employed to issue, supervise, review and/or enforce the
provisions of the laws relating to privacy, data privacy, information and network security, data breach notification, data protection
or the Processing of Personal Data or Sensitive Data in that jurisdiction.

 

“Data Protection
Obligations” means, in relation to a Party or a Group Company or its Business, all applicable laws, self-regulatory standards,
national or industry standards, policies, frameworks, and requirements, contractual obligations and written policies and terms of use
relating to privacy, data privacy, information and network security, data protection or the Processing of Personal Data, Sensitive Data,
or Important Data, in each case as may be amended, updated or replaced from time to time and as and to the extent applicable to a Party
or a Group Company or the operation of the Business.

 

“Data Systems”
means all Systems that Process data.

 

“Director
Indemnification Agreement” means the director indemnification agreement by and among the Company, the Lead Investor, and the
director of the Company designated by the Lead Investor, in form and substance attached hereto as Exhibit H.

 

“DTSA”
means the United States Defend Trade Secrets Act of 2016, as amended and interpreted from time to time.

 

“DTSA Notice”
means a notice containing the provisions required under the DTSA.

 

“Economic
Sanctions” means all economic or financial sanctions laws, measures or embargoes administered or enforced by the United States
(including all sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury, and its “Specially
Designated Nationals and Blocked Persons” lists), the PRC, Hong Kong, the European Union (including under Council Regulation (EC)
No. 194/2008), the United Nations, the United Kingdom, or any other relevant sanctions Governmental Authority.

 

“Effective
Date” has the meaning ascribed to it in the Preamble.

 

“Equity Securities”
means, with respect to any person that is a legal entity, any and all shares of capital stock, membership interests, units, profits interests,
ownership interests, equity interests, registered capital, and other equity securities of such person, and any right, warrant, option,
call, commitment, conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into,
exchangeable or exercisable for any of the foregoing, or any Contract providing for the acquisition of any of the foregoing.

 

    5

    

    

 

“Event”
includes any act, occurrence, transaction or omission, and any reference to an event occurring on or before a particular date shall include
events which for Tax purposes are deemed to have, or are treated as having, occurred
on or before that date.

 

“FCPA”
has the meaning ascribed to it in the definition of Anti-Corruption Laws.

 

“Financial
Statements” has the meaning ascribed to it in Section 6.12.

 

“Founder”
has the meaning ascribed to it in the Preamble.

 

“Founder
Holding Companies” has the meaning ascribed to it in the Preamble.

 

“Fundamental
Warranties” means the representations and warranties made by the Warrantors set forth in Sections 6.1 to 6.8,
6.18(a) and 6.25.

 

“GDPR”
means the European Union General Data Protection Regulation, as amended and interpreted from time to time.

 

“Governmental
Authority” means any government of any nation, federation, province or state or any other political subdivision thereof, any
entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government,
including any government authority, agency, department, board, commission or instrumentality of any country, or any political subdivision
thereof, any court, tribunal or arbitrator, any self-regulatory organization, any state-owned or state-controlled enterprise, and any
public international organization.

 

“Governmental
Order” means any applicable order, ruling, decision, verdict, decree, writ, subpoena, mandate, precept, command, directive,
consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental
Authority.

 

“Government
Officials” means (a) officers, employees and other persons (regardless of seniority) working in an official capacity on behalf
of any Governmental Authority at any level (e.g., county and municipal level, provincial or central level), or any department or agency
thereof; (b) political party officials and candidates for political office; (c) directors, officers and employees of state-owned, state-controlled
or state-operated enterprises; (d) officers, employees and other persons working in an official capacity on behalf of any public international
organization; or (e) close relatives of persons identified above (e.g., parents, children, spouse and parents-in-law), close friends and
business partners.

 

“Group Company”
means each of the Company, Perfect BVI, Perfect HK, Perfect Japan, Perfect Shanghai, Perfect Taiwan, and Perfect USA, sales office, representative
offices or branches, from time to time, whether in existence now or in the future (collectively, the “Group” or the
 “Group Companies”). For the avoidance of doubt, the Group does not include CyberLink.

 

“GS”
has the meaning ascribed to it in Exhibit B.

 

“HKIAC”
has the meaning ascribed to it in Section 12.11.

 

    6

    

    

 

“Hong Kong”
means the Hong Kong Special Administrative Region of the People’s Republic of China.

 

“Important
Data” means (a) any data or information in any media that is closely related to national security, economic development, and
social and public interests or (b) any data or information that constitutes important data or important information under any applicable
law, Data Protection Obligation, or Contract under which any Group Company has a legal obligation, or any Party or Group Company’s
or Group Company’s third party partner privacy policies.

 

“Indebtedness”
of any person means, without duplication, each of the following of such person: (a) all indebtedness for borrowed money; (b) all obligations
issued, undertaken or assumed as the deferred purchase price of property or services (other than trade payables entered into in the ordinary
course of business); (c) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments;
(d) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced that are incurred
in connection with the acquisition of properties, assets or businesses; (e) all indebtedness created or arising under any conditional
sale or other title retention agreement, or incurred as financing, in either case with respect to any property or assets acquired with
the proceeds of such indebtedness (even though the rights and remedies of the seller or bank under such agreement in the event of default
are limited to repossession or sale of such property); (f) all obligations that are capitalized (including capitalized lease obligations);
(g) all obligations under banker’s acceptance, letter of credit or similar facilities; (h) all obligations to purchase, redeem,
retire, decease or otherwise acquire for value any Equity Securities of such person; (i) all obligations in respect of any interest rate
swap, hedge or cap agreement; and (j) all guarantees issued in respect of the Indebtedness referred to in clauses (a) through (i) above
of any other person, but only to the extent of the Indebtedness guaranteed.

 

“Indemnifiable
Loss” means, with respect to any person, any action, claim, cost, damage (including consequential and indirect damages), deficiency,
diminution in value of shares, disbursement, expense, liability, loss, obligation, penalty or settlement of any kind or nature imposed
on or otherwise incurred or suffered by such person, including, without limitation, reasonable legal, accounting and other professional
fees and expenses incurred in the investigation, collection, prosecution and defense of claims and amounts paid in settlement and Taxes
payable by such person by reason of the indemnification, but excluding special and punitive damages.

 

“Indemnified
Party” has the meaning ascribed to it in Section 11.1.

 

“Indemnifying
Party” has the meaning ascribed to it in Section 11.2.

 

“Intellectual
Property” means any and all (a) patents, patent rights and applications therefor and reissues, reexaminations,
continuations, continuations-in-part, divisions, and patent term extensions thereof; (b) inventions (whether patentable or not),
discoveries, improvements, concepts, innovations and industrial models; (c) registered and unregistered copyrights, copyright
registrations and applications, mask works and registrations and applications therefor, author’s rights and works of
authorship (including artwork, Software, including computer programs, source code, object code and executable code, firmware,
development tools, files, records and data, and related documentation); (d) URLs, web sites, web pages and any part thereof; (e)
technical information, know-how, trade secrets, drawings, designs, design protocols, specifications, proprietary data, customer
lists, databases, proprietary processes, technology, formulae, and algorithms and other Technology and intellectual property; (f)
trade names, trade dress, trademarks, domain names, service marks, logos, business names, and registrations and applications
therefor; and (g) the goodwill symbolized or represented by the foregoing.

 

    7

    

    

 

“Investor”
or “Investors” has the meaning ascribed to it in the Preamble.

 

“Investor
Shares” has the meaning ascribed to it in Section 2.1.

 

“Key Employees”
means each of the persons set out in Exhibit I attached hereto and “Key Employee” means any of them.

 

“Liabilities”
means, with respect to any person, all liabilities, obligations and commitments of such person of any nature, whether accrued, absolute,
contingent or otherwise, and whether due or to become due.

 

“Lead Investor”
has the meaning ascribed to it in Exhibit B.

 

“Lead Investor
Director” has the meaning ascribed to it in Section 4.10.

 

“Lead Investor
Transaction Costs” has the meaning ascribed to it in Section 12.12.

 

“Lease”
has the meaning ascribed to it in Section 6.18(b).

 

“Lien”
means any claim, charge, easement, encumbrance, lease, covenant, security interest, lien, option, pledge, rights of others, or restriction
(whether on voting, sale, transfer, disposition or otherwise), whether imposed by Contract, understanding, law, equity or otherwise.

 

“Material
Adverse Effect” means any event, circumstance, change or effect that, individually or in the aggregate, has had, or would be
reasonably expected to have, a material adverse effect (i) on the business, assets (including intangible assets), liabilities, financial
condition, property, results of the operations or prospect of the Group taken as a whole, or (ii) the ability of any Warrantor to consummate
the transactions or perform any obligations contemplated by the Transaction Document, provided that in no event shall any of the
following, either alone or in combination, constitute, or be taken into account in determining whether there has been or would reasonably
be expected to be, a Material Adverse Effect:

 

		(a)	effects resulting from the consummation of the transactions contemplated by the Transaction Documents;

 

		(b)	natural disasters, declarations of war, acts of sabotage or terrorism or armed hostilities (except for
COVID-19 and other epidemic, pandemic or similar outbreak or health crisis);

 

		(c)	any breach of this Agreement by any Investor;

 

    8

    

    

 

		(d)	effects affecting the industry in which Company and the other Group Companies operate in the jurisdictions
in which the Group Companies currently operate (other than those that have a materially disproportionate impact on the Group Companies
compared to other companies that operate in the industry in which the Group Companies operate);

 

		(e)	changes in general business, economic or political conditions of the jurisdictions in which the Group
Companies currently operate; or

 

		(f)	the failure by any of the Group Companies to meet any internal or industry estimates, expectations, forecasts,
projections or budgets for any period; provided further that the underlying causes of such failure may, to the extent applicable,
be considered in determining whether there has been, or would be reasonably expected to be, a Material Adverse Effect).

 

“Material
Contract” has the meaning ascribed to it in Section 6.16(a).

 

“MC”
means MC Investment Asset Holdings LLC.

 

“MIIT”
means the Ministry of Industry and Information Technology of the PRC and its competent local counterparts.

 

“MOFCOM”
means the Ministry of Commerce of the PRC and its competent local counterparts.

 

“NDA”
means a non-disclosure agreement and warranty entered into between a Group Company and an employee of the Group.

 

“Open Source
Software” has the meaning ascribed to it in Section 6.20(f).

 

“Option Pool”
has the meaning ascribed to it in Section 6.2(i)(iii).

 

“Party”
or “Parties” has the meaning ascribed to it in the Preamble.

 

“Perfect
BVI” has the meaning ascribed to it in the Preamble.

 

“Perfect
HK” has the meaning ascribed to it in the Preamble.

 

“Perfect
Japan” has the meaning ascribed to it in the Preamble.

 

“Perfect
Shanghai” has the meaning ascribed to it in the Preamble.

 

“Perfect
Taiwan” has the meaning ascribed to it in the Preamble.

 

“Perfect
USA” has the meaning ascribed to it in the Preamble.

 

“Permitted
Liens” means (a) Liens for Taxes not yet delinquent or the validity of which are being contested in good faith and for which
there are adequate reserves on the applicable financial statements; and (b) Liens incurred in the ordinary course of business, which (i) do
not individually or in the aggregate materially detract from the value, use, or transferability of the assets that are subject to such
Liens; and (ii) were not incurred in connection with the borrowing of money.

 

    9

    

    

 

“Personal
Data” means (a) any data or information in any media that is linked to the identity of a particular individual, browser, or
device; (b) any data or information that constitutes personal data or personal information under any applicable law, Data Protection Obligation,
or Contract under which any Group Company has a legal obligation, or any Party or Group Company’s or Group Company’s third
party partner privacy policies; and (c) any data or information of or about a particular individual that under any applicable law, Data
Protection Obligation, or Contract under which any Group Company has a legal obligation requires specific handling or protection requirements,
and includes an individual’s combined first and last name, birthday, home address, previous addresses, telephone number, fax number,
email address, social security number or other government authority-issued identifier (including state identification number, tax identification
number, driver’s license number, or passport number), photos and images, information about family members or friends (including
the existence and nature of such relationships and such individual’s communications with them), education, work and employment history,
personal experiences, personal preferences, voting history, political affiliation, precise geolocation information of an individual or
device, biometric data, medical or health information, bank, credit card or other financial information (including bank account and credit
card account information), information useful for assessing credit, cookie identifiers associated with registration information, any other
browser- or device-specific number or identifier not controllable by the end user, and any other information specific to the physical,
physiological, genetic, mental, economic, cultural or social identity of an individual, and web or mobile browsing or usage information
that is linked to the foregoing.

 

“PRC”
means the People’s Republic of China (solely for purposes of this Agreement, excluding Hong Kong, the Macau Special Administrative
Region and Taiwan).

 

“PRC Investment
Regulations” means any laws or regulations set forth to govern any form of direct or indirect investment made by a PRC Person
to the entity, branch or business established in Taiwan, including but not limited to the Act Governing Relations between the People of
the Taiwan Area and the Mainland Area (臺灣地區與大陸地區人民關係條例),
the Enforcement Rules for the Act Governing Relations Between the People of the Taiwan Area and the Mainland Area (臺灣地區與大陸地區人民關係條例施行細則),
and the Regulations Governing People from Mainland Area to Invest in Taiwan (大陸地區人民來臺投資許可辦法),
in each case, as such laws or regulations may be amended and as interpreted by Taiwan Governmental Authorities from time to time.

 

“PRC
Person” means (i) any person that is a “Mainland Area Person (大陸地區人民)”
as defined in Article 2, Item 4 and Article 3 of the of the Act Governing Relations between the People of the Taiwan Area and the
Mainland Area (臺灣地區與大陸地區人民關係條例),
Articles 5 and 7 of the Enforcement Rules for the Act Governing Relations Between the People of the Taiwan Area and the Mainland
Area (臺灣地區與大陸地區人民關係條例施行細則),
(ii) any juristic person, group or other organization registered in the PRC, and (iii) any “Third Jurisdiction Company”
invested by any of (i) and (ii) above (第三地區投資之公司)
as defined in Article 3, Paragraph 2 of the Regulations Governing People from Mainland Area to Invest in Taiwan (大陸地區人民來臺投資許可辦法),
which meets either of the following criteria:

 

    10

    

    

 

		(a)	thirty percent (30%) or more of such entity’s Equity Securities are held or capital is contributed
directly or indirectly by any Mainland Area Person(s), in aggregate; or

		(b)	Mainland Area Person(s) have any of the following control powers over such entity:

		(i)	Mainland Area Person(s) have control over the majority of the votes in accordance with a Contract with
other shareholders;

		(ii)	Mainland Area Person(s) have control over matters related to financial, operational and/or human resources
matters;

		(iii)	Mainland Area Person(s) have the right to appoint or discharge a majority of the directors of the board
of directors or other organisation capable of making business decisions, and the board of directors or such organization is in charge
of the operation of such entity;

		(iv)	Mainland Area Person(s) have control over the majority of the votes on the board of directors or other
organisation capable of making business decision, and the board of directors or such organization is in charge of the operation of such
entity; or

		(v)	Mainland Area Person(s) have any other controlling powers as defined under the International Financial
Reporting Standards or the Enterprise Accounting Standards,

in each case, as such laws may be amended and as interpreted by Taiwan Governmental Authorities from time to time.

 

“Preferred
Shares” means the Series A Shares, the Series A-1 Shares, the Series B Shares and the Series C Shares of the Company.

 

“Prohibited
Person” means any person that is (a) a national or resident of any U.S. embargoed or restricted country; (b) included on, or
affiliated with any person on, the United States Commerce Department’s Denied Parties List, Entities and Unverified Lists; the U.S.
Department of Treasury’s Specially Designated Nationals, Specially Designated Narcotics Traffickers or Specially Designated Terrorists,
or the Annex to Executive Order No. 13224; the Department of State’s Debarred List; UN Sanctions; (c) a person with whom business
transactions, including exports and re-exports, are restricted by a U.S. Governmental Authority, including, in each clause above, any
updates or revisions to the foregoing and any newly published rules; (d) a person with whom transactions are restricted by any Economic
Sanctions; or (e) any person that is owned or controlled by a Prohibited Person.

 

    11

    

    

 

“Process”
or “Processing” means the receipt, access, acquisition, collection, compilation, use, use or transfer for use in direct
marketing, storage, maintenance, processing, safeguarding, security, disposal, destruction, disclosure, or transfer of data or Sensitive
Data.

 

“Related
Party” means any Affiliate, officer, director, supervisory board member, Key Employee, or holder of any Equity Security of any
Group Company, and any Affiliate or Associate of any of the foregoing.

 

“Representatives”
has the meaning ascribed to it in Section 6.17(a).

 

“Required
Governmental Consents” has the meaning ascribed to it in Section 6.9(b).

 

“Restated
Articles” means the Fourth Amended and Restated Memorandum and Articles of Association of the Company to be adopted on or prior
to the Closing Date in form and substance attached hereto as Exhibit G, as amended and restated from time to time.

 

“SAFE”
means the State Administration of Foreign Exchange of the PRC and its competent local counterparts.

 

“SAFE Rules
and Regulations” means the Circular 37 issued by SAFE on July 4, 2014 (as supplemented by implementing rules and regulations
and by any successor rule or regulation under PRC law, including any rule or regulation interpreting or setting forth provisions for implementation
of any of the foregoing) and any other applicable SAFE rules and regulations.

 

“SAMR”
means the State Administration for Market Regulation of the PRC and its competent local counterparts, or, with respect to the issuance
of any business license or filing or registration to be effected by or with the State Administration for Market Regulation, any Governmental
Authority which is similarly competent to issue such business license or accept such filing or registration under the laws of the PRC.

 

“Securities
Act” means the U.S. Securities Act of 1933, as amended and interpreted from time to time, and the rules and regulations promulgated
thereunder.

 

“Security
Breach” means any (a) unauthorized acquisition of, access to, loss of, or misuse (by any means) of Personal Data or Sensitive
Data or System; (b) unauthorized or unlawful Processing, sale, or rental of Personal Data or Sensitive Data; (c) other act or omission
that compromises the security, integrity, or confidentiality of Personal Data or Sensitive Data or System; or (d) any security breach
(or substantially similar term) as defined in applicable law or Data Protection Obligation, in each case of (a) to (d), with respect to
such data maintained by a Group Company or by any third party on behalf of a Group Company.

 

“Sensitive
Data” means all (a) Personal Data and Important Data that is subject to a Data Protection Obligation; and (b) other confidential
or proprietary business information or trade secret information.

 

    12

    

    

 

“Series A
Shares” means the Company’s series A preferred shares of par value US$0.10 each, having the rights, privileges, preferences,
and restrictions set forth in the Shareholders Agreement and the Restated Articles.

 

“Series A-1
Shares” means the Company’s series A-1 preferred shares of par value US$0.10 each, having the rights, privileges, preferences,
and restrictions set forth in the Shareholders Agreement and the Restated Articles.

 

“Series B
Shares” means the Company’s series B preferred shares of par value US$0.10 each, having the rights, privileges, preferences,
and restrictions set forth in the Shareholders Agreement and the Restated Articles.

 

“Series C
Shares” means, collectively, the Series C-1 Shares and the Series C-2 Shares.

 

“Series C-1
Shares” means the Company’s series C-1 preferred shares of par value US$0.10 each, having the rights, privileges, preferences,
and restrictions set forth in the Shareholders Agreement and the Restated Articles.

 

“Series C-2
Shares” means the Company’s series C-2 preferred shares of par value US$0.10 each, having the rights, privileges, preferences,
and restrictions set forth in the Shareholders Agreement and the Restated Articles.

 

“Shareholders
Agreement” means the Company’s Second Amended and Restated Shareholders Agreement to be entered into by the parties named
therein on or prior to the Closing, in form and substance attached hereto as Exhibit F.

 

“Social Insurance”
means any form of social insurance required under applicable laws, including without limitation, the national and local employer’s
contributions for pensions, medical insurance, unemployment insurance, work-related injury insurance, pregnancy benefits, and housing
accumulation funds as required in the PRC, Taiwan and other applicable jurisdictions.

 

“Software”
means any and all (a) computer programs, whether in source code or object code or executable code, firmware, algorithms, development tools,
files, and records; (b) databases and compilations, whether machine readable or otherwise; (c) descriptions, flow-charts and other work
product used to design, plan, organize and develop any of the foregoing; and (d) all documentation including user manuals and other training
documentation related to any of the foregoing.

 

“Statement
Date” has the meaning ascribed to it in Section 6.12.

 

“Subscription
Price” has the meaning ascribed to it in Section 2.2.

 

“System”
means all Software, hardware, firmware, networks, switches, endpoints, platforms, servers, storage, interfaces, applications, websites
and information technology systems, and all electronic connections between and among them, owned, operated, outsourced or used or held
for use by or for the Group Company or the Business.

 

“Taiwan”
means the Republic of China (Taiwan).

 

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“Taiwan Company
Act” means the Taiwan Company Act as of 2018, as amended and interpreted from time to time.

 

“Taiwan Government
Project Agreement” means that certain artificial intelligence cosmetic consulting project agreement pursuant to which Perfect
Taiwan received certain amount of grant from the Industrial Development Bureau of the Ministry of Economic Affairs.

 

“Tax”
or “Taxes” means PRC (including any subdivision, municipality, province or locality of the PRC or any agency thereof)
or other non-PRC income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, unclaimed property to escheatment, customs duties, capital stock, franchise, profits, withholding, social security (or
similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, value added, alternative or
add-on minimum, estimated, or other tax of any kind whatsoever, including any interest, penalty, or addition thereto, whether disputed
or not and including any obligations to indemnify or otherwise assume or succeed to the tax liability of any other person. “Taxable”
shall be construed accordingly.

 

“Tax Return”
means any report, return, election, statement or other document or similar filing (including the attached schedules) required to be filed
with respect to Taxes, including any information return, claim for refund, amended return, or declaration of estimated Taxes.

 

“Tax Warranties”
means the representations and warranties made by the Warrantors set forth in Section 6.15.

 

“Trademark
Filing Plan” has the meaning ascribed to it in Section 6.20(l).

 

“Transaction
Documents” means, collectively, this Agreement, the Shareholders Agreement, the Restated Articles, and the Director Indemnification
Agreement and any schedules and exhibits attached hereto and thereto, and any other documents reasonably required to be entered into in
connection with the transactions contemplated hereunder and thereunder.

 

“Technology”
means, collectively, designs, formulae, algorithms, procedures, methods, techniques, ideas, know-how, results of research and development,
Software, tools, data, inventions, apparatus, creations, improvements, works of authorship and other similar materials, and all recordings,
graphs, drawings, analyses, and any other embodiments of the above, in any form whether or not specifically listed herein, and all related
technology, that are used, incorporated or embodied in or displayed by any of the foregoing or used in the design, development, reproduction,
sale, marketing, maintenance or modification of any of the foregoing.

 

“United States”
means the United States of America.

 

“Warrantors”
means, collectively, the Group Companies, the Founder and the Founder Holding Companies.

 

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		1.2	Interpretations. Unless the context
requires otherwise or unless otherwise specified herein, in this Agreement:

 

		(a)	all words used in the singular herein shall be deemed to have been used in the plural and in the masculine
shall include the feminine and the neuter and vice versa;

 

		(b)	any reference to any party shall be construed so as to include its successors in title and permitted assigns;

 

		(c)	any reference to any agreement or instrument is a reference to that agreement or instrument as amended
or novated;

 

		(d)	“assets” includes present and future properties, revenues and rights of every description;

 

		(e)	“business day” is a day on which commercial banks and foreign exchange markets settle
payments in Taiwan, the PRC, Hong Kong and the Cayman Islands but does not include a Saturday, Sunday or a public holiday;

 

		(f)	“control” of a given person means the power or authority, whether exercised or not,
to direct the business, management and policies of such person, directly or indirectly, whether through the ownership of voting securities,
by Contract or otherwise; provided that such power or authority shall conclusively be presumed to exist upon possession of beneficial
ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or
shareholders of such person or power to control the composition of a majority of the board of directors of such person. The terms “controlled,”
 “controlling” and “under common control with” have meanings correlative to the foregoing;

 

		(g)	“person” includes an individual, a partnership, a corporation (including a business
trust), a joint stock company, a limited liability company, an unincorporated association, a joint venture or other entity or a governmental
authority;

 

		(h)	“laws” means any constitutional provision, statute or other law, regulation, rule,
official directive, order, request, codes of practice or guideline (whether or not having the force of law) of any governmental, intergovernmental
or supranational body, agency, department or regulatory, self-regulatory or other authority or organization and references to laws include
any such law modifying, re-enacting, extending or made pursuant to the same or which is modified, re-enacted, or extended by the
same or pursuant to which the same is made;

 

		(i)	the term “or” is not exclusive;

 

		(j)	the terms “herein,” “hereof,” and other similar words refer to this
Agreement as a whole and not to any particular section, subsection, paragraph, clause, or other subdivision;

 

		(k)	the term “including” will be deemed to be followed by, “but not limited to”;

 

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		(l)	the phrase “directly or indirectly” means directly, or indirectly through one or more
intermediate persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning;

 

		(m)	all references in this Agreement to designated “Sections” and other subdivisions are to the
designated Sections and other subdivisions of the body of this Agreement;

 

		(n)	all accounting terms not otherwise defined herein have the meanings assigned under the Accounting Standards;

 

		(o)	references to this Agreement, any other Transaction Documents and any other document shall be construed
as references to such document as the same may be amended, supplemented or novated from time to time;

 

		(p)	all references to “US$” are to currency of the United States (and shall be deemed to include
reference to the equivalent amount in other currencies); and

 

		(q)	whenever any statement herein or in any schedule, exhibit, certificate or other document delivered to
any party pursuant to this Agreement is made “to the knowledge” or “to the best knowledge” or words
of similar intent or effect by any party or its representative, such party or representative shall make such statement after making an
inquiry of all relevant officers, employees or agents of such entity and careful consideration of the matters set forth in the statements
that are so qualified, and each such statement shall be deemed to include a representation that such inquiry has been made.

 

		2.	Authorization, Subscription and Issuance of the Investor Shares

 

		2.1	Authorization. The Company will,
prior to the Closing, duly authorize, (a) the sale and issuance of that number of Series C Shares set forth opposite each Investor’s
name on Exhibit B attached hereto (collectively, the “Investor Shares”); and (b) the reservation of the relevant
Conversion Shares.

 

		2.2	Subscription and Issuance of the Investor
Shares. Subject to the terms and conditions of this Agreement, each Investor agrees to subscribe for, and Company agrees to
issue to each Investor, such Investor’s portion of the Investor Shares at a price per share and for an aggregate subscription price
set forth opposite such Investor’s name on Exhibit B attached hereto (collectively, the “Subscription Price”)
at the Closing. At the Closing, subject to the satisfaction or waiver of all the conditions set forth in Section 4 below, each
Investor shall pay, or cause to be paid, its portion of the Subscription Price by wire transfer of immediately available funds in US$
into the bank account below:

 

	Account Name: 	PERFECT  CORP.
	 	 
	Account Number:	2120-22-113101-99
	 	 
	Bank Name: 	CHANG HWA COMMERCIAL BANK LTD. CHI-CHENG BRANCH

 

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	Bank Address:	No. 98, Minquan Rd., Xindian Dist., New Taipei City 231, Taiwan (R.O.C.)
	 	 
	SWIFT Code:	CCBCTWTP965
	 	 
	Currency:	USD

 

		2.3	Capitalization Table. The capitalization
table of the Company immediately prior to and immediately following the
Closing is attached hereto as Exhibit C.

 

		3.	Closing and Delivery

 

		3.1	Closing. The consummation of the
subscription and issuance of the Investor Shares with respect to each Investor and payment by such Investor of the Subscription Price
for the Investor Shares it subscribes for (the “Closing”) shall take place as promptly as practicable following, but
in no event later than, the tenth (10th) business day after all closing conditions specified in Section 4 and Section
5 hereof have been waived or satisfied, or at such other time as the Company and such Investor may mutually agree in writing (such
date is hereinafter referred to as the “Closing Date”), via electronically transmitted signatures and other mutually
acceptable means of communications and delivery (with originals to be delivered as soon as reasonably practicable thereafter, but in no
event later than ten (10) business days after the Closing Date). For the avoidance of doubt, each Investor shall be entitled to proceed
with the Closing (as defined below) with respect to the issuance of its portion of the Investor Shares in accordance with the terms of
this Agreement, regardless of whether the other Investors proceed with their Closing or not.

 

		3.2	Deliveries by the Company at or prior to the
Closing. At or prior to the Closing, in addition to any items the delivery of which is made an express condition to each Investor’s
obligations at the Closing pursuant to Section 4, the Company shall deliver, or cause to be delivered, to such Investor:

 

		(a)	(i) a copy of the updated register of members of the Company certified by the registered office provider
of the Company (with the original certified true copy to be delivered to such Investor within five (5) business days after the Closing)
and (ii) a copy of the share certificate(s) (with the original share certificate(s) to be delivered to such Investor within five (5) business
days after the Closing), in each case, reflecting the issuance to such Investor of its portion of the Investor Shares pursuant to Section
2;

 

		(b)	a copy of the updated register of directors of the Company, certified by the registered officer provider
of the Company, evidencing the resignation and appointment of the directors as contemplated by Section 4.10 hereof (with the original
delivered to such Investor within five (5) business days after the Closing);

 

		(c)	a certificate of good standing of the Company, dated no more than ten (10) calendar days prior to the
Closing;

 

		(d)	the resolutions of the Board approving, among other customary matters, (i) the Company’s entry into
this Agreement and other Transaction Documents and the transactions contemplated hereby and thereby;
(ii) instructing the Company’s registered office service provider to update the records of the Company, including but not limited
to the register of members and the register of directors, to reflect such transactions; and (iii) acknowledging the adoption of the Restated
Articles with effect from the Closing; and

 

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		(e)	the resolutions of the shareholders of the Company approving and/or consenting to among other things,
(i) the Company’s entry into this Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby;
(ii) waiving each shareholder’s preemptive rights, rights of first refusal, redemption, put or call rights, and any similar rights
with respect to the transactions contemplated hereby and thereby; (iii) approving any shareholder reserved matter required in order implement
the transactions contemplating by this Agreement and any other Transaction Document (including for the avoidance of doubt, the adoption
of the Restated Article); (iv) amending the authorized share capital of the Company for the creation of the Series C Shares; and (v) adopting
the Restated Articles with effect from the Closing.

 

		3.3	Use of Proceeds. Subject to the
terms of this Agreement, the Company shall only use the proceeds from the issuance of the Investor Shares for capital expenditure, business
expansion and other general working capital needs of the Company in accordance with the annual budget and business plan duly approved
by the Board in accordance with the Shareholders Agreement and the Restated Articles. Unless otherwise agreed by the Board and the Lead
Investor in writing, no such proceeds shall be used for any other purpose (including, without limitation, settling any shareholder loan
or making any distribution or payment to any Related Party). The Company shall not use any of the proceeds of the Subscription Price to
take any action in violation of applicable laws, including, without limitation, the Anti-Corruption Laws, the Anti-Money Laundering Laws
and the Economic Sanctions.

 

		4.	Conditions to the Investor’s Obligations

 

The obligations of each Investor to
consummate the Closing under Section 2 are subject to the fulfillment, to the satisfaction of such Investor on or prior to the
Closing (other than Section 4.17, which shall have been fulfilled by the Company and MC on or prior to Closing), or waiver by such
Investor, of the following conditions:

 

		4.1	Representations and Warranties.
(a) Each of the Fundamental Warranties are true, complete and not misleading in all respects when made and shall be true, complete and
not misleading on and as of the Closing with the same effect as though such representations and warranties had been made on and as of
the date of the Closing; and (b) each of the representations and warranties of the Warrantors set forth in Section 6 hereof (other
than the Fundamental Warranties) (i) that are not qualified by materiality shall have been true, complete and not misleading in all material
respects when made and shall be true, complete and not misleading on and as of the Closing with the same effect as though such representations
and warranties had been made on and as of the date of the Closing and, (ii) that are qualified by materiality shall have been true, complete
and not misleading in all respects when made and shall be true, complete and not misleading on and as of the Closing with the same effect
as though such representations and warranties had been made on and as of the date of the Closing, except in either case for those representations
and warranties that address matters only as of a particular date, which representations
and warranties will have been true, complete and not misleading as of such particular date.

 

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		4.2	Authorizations. All Consents of
any competent Governmental Authority or of any other person that are required under any law or any Material Contract to be obtained by
any Warrantor in connection with the consummation of the transactions that are required to be consummated prior to the Closing as contemplated
by the Transaction Documents (including, without limitation, those related to the lawful issuance of the Investor Shares, including any
reserved matter approval, and any waivers of notice requirements, rights of first refusal, preemptive rights, put or call rights or any
other similar rights) shall have been duly obtained and effective as of the Closing.

 

		4.3	Proceedings and Documents. All
corporate and other proceedings in connection with the transactions to be completed at the Closing and all documents incident thereto,
including without limitation written approval from all of the then current holders of equity interests of each Group Company, as applicable,
with respect to this Agreement and the other Transaction Documents and the transactions contemplated hereby and thereby, shall have been
completed in form and substance reasonably satisfactory to such Investor, such Investor shall have received all such counterpart copies
of such documents as it may reasonably request.

 

		4.4	Covenants. All covenants, agreements,
and conditions contained in each Transaction Document to be performed by each Warrantor on or prior to the Closing Date shall have been
performed or complied with in all material respects.

 

		4.5	No Action. No Action shall have
been instituted or threatened which seeks to enjoin, restrain or prohibit, or might result in damages in respect of, any Transaction Document
or the completion of the transactions contemplated by the Transaction Documents, and which would in the reasonable judgment of such Investor
make it inadvisable to consummate such transactions. No laws or regulations shall be in effect, and no court order shall have been entered
in any Action instituted by any party which enjoins, restrains or prohibits any Transaction Document or the complete consummation of the
transactions contemplated by the Transaction Documents.

 

		4.6	Compliance Certificate. With respect
to the consummation of the Closing, Company shall have delivered to such Investor a certificate substantially in the form of Exhibit
E attached hereto, executed by the chairman of the Board, dated the Closing Date, certifying the fulfillment of the conditions specified
in this Section 4, and attaching and certifying as true and complete a copy of the Restated Articles as in effect as of the
Closing Date.

 

		4.7	Restated Articles. The Restated
Articles substantially in the form of Exhibit G attached hereto shall have been duly adopted by all necessary action of the Board
and/or the members of the Company, and such adoption shall have become effective on or prior to the Closing.

 

		4.8	Transaction Documents. Each of
the parties to the Transaction Documents (other than such Investor) shall have executed and delivered such Transaction Documents to such
Investor.

 

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		4.9	Approval. The investment in the
Company by the Lead Investor shall have been approved by the global investment committee of the Lead Investor.

 

		4.10	Board of Directors. The Company
shall have taken all necessary corporate action such that immediately following the Closing, one (1) director shall be appointed by the
Lead Investor to the Board (the “Lead Investor Director”).

 

		4.11	No Material Adverse Effect. There
shall have been no Material Adverse Effect since the Effective Date.

 

		4.12	Due Diligence. The Lead Investor
shall have completed its business, legal, financial due diligence investigation of the Group Companies to its satisfaction.

 

		4.13	Legal Opinions. The Lead Investor
shall have received a legal opinion, dated as of the date of the Closing Date, from each of the Cayman Islands and Taiwan legal counsels
of the Company in form and substance as Exhibit L and Exhibit M attached hereto.

 

		4.14	Director Indemnification Agreement. The Lead Investor shall have received a copy of the Director
Indemnification Agreement duly executed by the Company in form and substance as Exhibit H attached hereto.

 

		4.15	Latest Financials. The Company
shall have delivered to such Investor the unaudited consolidated financials and the management account of the Company as of the latest
available period end to such Investor’s satisfaction.

 

		4.16	Closing Deliveries. The Company
shall have delivered to the Investors all of the items that are required to be delivered to the Investors at the Closing under Section
3.2.

 

		4.17	MC Side Letter. The Company and
MC shall have executed and delivered a letter agreement in the form and substance as agreed to between MC and the Company.

 

5.            Conditions to the Company’s Obligations

 

The obligations of the Company to consummate
the Closing with each Investor under Section 2 are subject to the fulfillment, to the reasonable satisfaction of the Company on
or prior to the Closing, or waiver by the Company, of the following conditions:

 

		5.1	Representations and Warranties.
Each of the representations and warranties of such Investor set forth in Section 7 hereof (a) that are not qualified by materiality
shall have been true, complete and not misleading in all material respects when made and shall be true, complete and not misleading on
and as of the Closing with the same effect as though such representations and warranties had been made on and as of the date of the Closing
and, (b) that are qualified by materiality shall have been true, complete and not misleading in all respects when made and shall be true,
complete and not misleading on and as of the Closing with the same effect as though such representations and warranties had been made
on and as of the date of the Closing, except in either case for those representations and warranties that address matters only as of a
particular date, which representations will have been true, complete and not misleading as of such particular date.

 

		5.2	Covenants. All covenants,
                                                           agreements, and conditions contained in each Transaction Document to which such Investor is a party that are required to be
                                                           performed by such Investor on or prior to the Closing
Date shall have been performed or complied with in all material respects.

 

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		5.3	Authorizations. All Consents of
any competent Governmental Authority or of any other person that are required to be obtained by such Investor to execute and deliver the
Transaction Documents, subscribe for such Investor Shares and to carry out the transactions contemplated hereby and thereby shall have
been obtained.

 

		5.4	No Action. No Action shall have
been instituted or threatened which seeks to enjoin, restrain or prohibit, or might result in damages in respect of, any Transaction Document
or the completion of the transactions contemplated by the Transaction Documents, and which would in the reasonable judgment of the Company
make it inadvisable to consummate such transactions. No law shall be in effect, and no court order shall have been entered in any action
or proceeding instituted by any party which enjoins, restrains or prohibits any Transaction Document or the complete consummation of the
transactions contemplated by the Transaction Documents.

 

		5.5	Transaction Documents. Such Investor
shall have executed and delivered all applicable Transaction Documents to which it is a party to the Company.

 

		6.	Warrantors’ Representations and Warranties

 

Each of the Warrantors jointly and severally
represents and warrants (other than Sections 6.29 and 6.30, which are represented and warranted solely by the Founder) to each Investor
that, except as otherwise specifically set forth on the Disclosure Schedule attached hereto as Exhibit D, which exceptions shall
be deemed to be part of the representations and warranties made hereunder, each of the following statements contained in this Section
6 shall be true, complete and not misleading as of the Effective Date and as at the Closing Date, with the same effect as if made
on and as of such dates, except as otherwise indicated:

 

		6.1	Organization, Good Standing and Qualification.
Each Group Company is duly organized, validly existing and in good standing (or equivalent status in the relevant jurisdiction) under,
and by virtue of, the laws of the place of its incorporation or establishment and has all requisite power and authority to own its properties
and assets and to carry on its business as now conducted and as proposed to be conducted, and to perform each of its obligations under
the Transaction Documents to which it is a party. Each Group Company is duly licensed and qualified to do business and is in good standing
(or equivalent status in the relevant jurisdiction) in each jurisdiction that such Group Company is doing business. Perfect Shanghai has
a valid business license issued by the SAMR or other relevant Governmental Authorities (a true and complete copy of which has been delivered
to each Investor), and has, since its establishment, carried on its business in compliance with the business scope set forth in its business
license.

 

		6.2	Capitalization and Voting Rights.

 

		(a)	Immediately prior to the Closing, the authorized share capital of Company will be US$82,000,000
                                                               divided into (i) 574,808,927 Common Shares of par value US$0.10 each, 298,396,755 of which are issued and outstanding, (ii)
                                                               245,191,073 Preferred Shares comprising of (x) 47,140,160 Series A Shares of par value US$0.10 each, 47,140,160 of which are issued
                                                               and outstanding, (y) 50,000,000 Series A-1 Shares of par value
US$0.10 each, 47,140,163 of which are issued and outstanding, (iii) 73,206,440 Series B Shares of par value US$0.10 each, 73,206,440 of
which are issued and outstanding, (iv) 16,270,745 Series C-1 Shares of par value US$0.10 each, none of which are issued and outstanding
and (v) 58,573,728 Series C-2 Shares of par value US$0.10 each, and in the case of Sections 6.2(a)(iv) and 6.2(a)(v), none
of which are issued and outstanding. Section 6.2(a) of the Disclosure Schedule sets forth the capitalization tables of (x) each
Group Company (including the Company) as of immediately prior to the Closing; and (y) each Group Company (including the Company) as of
immediately after the Closing, in each case, reflecting all of the then outstanding and authorized Equity Securities of such Group Company,
the record and beneficial holders thereof and the terms of any vesting applicable thereto. The rights, privileges and preferences of the
Common Shares, the Series A Shares, the Series A-1 Shares, the Series B Shares and the Series C Shares are set out in the Shareholders
Agreement and the Restated Articles.

 

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		(b)	Perfect BVI. Immediately prior to and following the Closing, Perfect BVI shall have issued 40,000,000
ordinary shares, all of which are issued and outstanding and held by the Company.

 

		(c)	Perfect HK. Immediately prior to and following the Closing, Perfect HK shall have issued 2,490,000
ordinary shares, all of which are issued and outstanding and held by Perfect BVI.

 

		(d)	Perfect Japan. Immediately prior to and following the Closing, Perfect Japan shall have issued
3,240 ordinary shares, all of which are issued and outstanding and held by the Company.

 

		(e)	Perfect Shanghai. The registered capital of Perfect Shanghai is set forth opposite its name on
Section 6.2(e) of the Disclosure Schedule, together with an accurate list of the record and beneficial owners of such registered
capital.

 

		(f)	Perfect Taiwan. Immediately prior to and following the Closing, Perfect Taiwan shall have issued
28,000,000 ordinary shares, all of which are issued and outstanding and held by the Company.

 

		(g)	Perfect USA. Immediately prior to and following the Closing, Perfect USA shall have issued 1,380,000
ordinary shares, all of which are issued and outstanding and held by the Company.

 

		(h)	No Other Securities. Except for (i) certain rights provided in the Charter Documents of the Company
as currently in effect; (ii) certain rights provided in the Restated Articles and the Shareholders Agreement; and (iii) the outstanding
Equity Securities set forth in Section 6.2(a) of the Disclosure Schedule, (x) there are no and at the Closing there shall be no
other authorized, reserved for issuance or outstanding Equity Securities of any Group Company; (y) no Equity Securities of any Group Company
are subject to any preemptive rights, rights of first refusal (except to the extent provided by applicable PRC laws in respect of the
Equity Securities of Perfect Shanghai and except to the extent provided by applicable Taiwan laws in respect of the Equity Securities
of Perfect Taiwan and), right of first offer or other rights to purchase such Equity Securities or any other rights with respect to such Equity
Securities, and (z) no Group Company is a party or subject to any Contract that affects or relates to the voting or giving of written
Consents with respect to, or the right to cause the redemption, or repurchase, of any Equity Security of such Group Company. Except as
set forth in the Shareholders Agreement, the Company has not granted any registration rights or information rights to any other person,
nor is the Company obliged to list any of the Equity Securities of any Group Companies on any securities exchange. Except as contemplated
under the Transaction Documents, there are no voting or similar agreements which relate to the share capital or registered capital of
any Group Company.

 

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		(i)	The Company has reserved:

 

		(i)	the Investor Shares for issuance pursuant to this Agreement;

 

		(ii)	245,191,073 Common Shares (as may be adjusted in accordance with the provisions of the Shareholders Agreement
and the Restated Articles) for issuance upon conversion of the Preferred Shares; and

 

		(iii)	30,000,000 Common Shares and 15,000,000 Common Shares for issuance to its officers, directors, employees
and consultants pursuant to the 2015 Incentive Option Plan and the 2018 Incentive Option Plan, respectively (collectively, the “Option
Pool”). As of the date of this Agreement, (x) under the 2015 Incentive Option Plan, options to purchase 30,000,000 Common Shares
have been granted to the employees and 0 Common Shares are available for grant, and 14,667,500 Common Shares under the 2015 Incentive
Option Plan have been exercised and issued to Perfect AA Corp.; and (y) under the 2018 Incentive Option Plan, the options to purchase
8,970,000 Common Shares have been granted to the employees and 6,030,000 Common Shares are available for grant. None of the granted options
under the 2018 Incentive Option Plan have been exercised.

 

		(j)	Issuance and Status. All presently issued and outstanding Equity Securities of each Group Company
were duly and validly issued (or subscribed for) in compliance with all applicable laws, preemptive rights or similar of any person, applicable
Charter Documents and applicable Contracts. All share capital or registered capital, as the case may be, of each Group Company has been
duly and validly issued, is fully paid (or subscribed for) and non-assessable, and is and as of the Closing shall be free of any and all
Liens (except for any restrictions on transfer under the Shareholders Agreement and Restated Articles and applicable laws). No Contract
of any Group Company relating to its Equity Securities provides for acceleration of vesting (or lapse of a repurchase right) or other
changes in the vesting provisions or other terms of such agreement or understanding upon the occurrence of any event or combination of
events. No Group Company has ever adjusted or amended the exercise price of any share options previously awarded, whether through amendment,
cancellation, replacement grant, repricing, or any other means. Except as contemplated under the Transaction Documents, there are no (i)
resolutions pending to increase the share capital or registered capital of any Group Company or cause the liquidation, winding up, dissolution
of any Group Company (nor have any other actions or events analogous to the foregoing
been taken), nor has any distress, execution or other process been levied against any Group Company; (ii) dividends which have accrued
or been declared but are unpaid by any Group Company; (iii) obligations, commitments or arrangements, contingent or otherwise, of any
Group Company to repurchase, redeem, or otherwise acquire any Equity Securities; or (iv) outstanding or authorized equity appreciation,
phantom equity, equity plans or similar rights with respect to any Group Company. All dividends (if any) or distributions (if any) declared,
made or paid by each Group Company, and all repurchases and redemptions of Equity Securities of each Group Company (if any), have been
declared, made, paid, repurchased or redeemed, as applicable, in accordance with its Charter Documents and all applicable laws. Except
as set forth in the Shareholders Agreement and the Amended Articles or the Charter Documents of any other Group Company, there are no
restrictions of any kind that prevent or restrict the payment of any dividends or other distributions in respect of the Equity Securities
of any Group Company other than imposed by applicable laws of general applicability of its jurisdiction of organization.

 

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		(k)	Title. Each Group Company is the sole record holder and beneficial owner of all of the Equity Securities
set forth opposite its name on Section 6.2(a) of the Disclosure Schedule, free and clear of all Liens of any kind other than those
arising under applicable law.

 

		(l)	Founder and Founder Holdings Companies. Immediately prior to the Closing, the Founder indirectly
owns 81,000,000 Common Shares and 8,328,094 Series A-1 Shares of the Company, accounting for approximately 17.43% of the total outstanding
issued share capital of the Company (on a fully-diluted and as converted basis), and other than the foregoing, the Founder does not directly
or indirectly own any other Equity Securities of any Group Company. The Founder is the sole record holder and beneficial owner of the
entire issued share capital of the Founder Holding Companies set forth in Exhibit A, free and clear of all Liens of any kind other
than those arising under the applicable law and the Transaction Documents.

 

		6.3	Corporate Structure and Subsidiaries.
Section 6.3 of the Disclosure Schedule sets forth a complete and true structure chart showing the Group Companies, and indicating
the ownership and control relationships among all Group Companies or a description of such structure with such ownership and control relationships,
the nature of the legal entity which each Group Company constitutes, the jurisdiction in which each Group Company was or will be organized,
and each jurisdiction in which each Group Company is required to be qualified or licensed to do business as a foreign person or a domestic
person, as the case may be, as currently contemplated at the Closing. No Group Company owns or controls, or has ever owned or controlled,
directly or indirectly, any Equity Security in any other person or is or was a participant in any joint venture, partnership or similar
arrangement except as set for the in Section 6.3 of the Disclosure Schedule. No Group Company is obligated to make any investment
in or capital contribution in or on behalf of any other person. Except as set forth in the Shareholders Agreement or the Restated Articles
(or the Charter Documents of the Group Companies), there are no irrevocable proxies and no voting agreements with respect to any capital
stock of, or other equity or voting interests in, any Group Company (or in any subsidiary of any
Group Company). The Company was formed solely to acquire and hold the Equity Securities in Perfect BVI, Perfect Japan, Perfect Shanghai,
Perfect Taiwan and Perfect USA. Perfect BVI was formed solely to acquire and hold the Equity Securities in Perfect HK. Each of the Company,
Perfect BVI and Perfect HK is an investment holding company only and has not engaged in any other business and has not incurred any Liability
since its date of formation. Perfect HK has been a dormant company since November 16, 2018 and is in compliance with all requirements
for a dormant company under all applicable laws. Each of Perfect Japan, Perfect Shanghai, Perfect Taiwan and Perfect USA is engaged in
the Business and has no other business since its date of incorporation. None of the Founder or any Founder Holding Company, and no person
owned or controlled by the Founder or any Founder Holding Company (other than a Group Company), is engaged in the Business or has any
assets in relation to the Business (other than through an advisory, employment or consulting relationship with a Group Company) or any
Contract with any Group Company.

 

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		6.4	Power and Authority. Each Warrantor
has all requisite power, authority and legal capacity to execute, deliver and perform the Transaction Documents to which it is a party
and to carry out and perform its obligations under the terms of the Transaction Documents.

 

		6.5	Authorization. All actions on the
part of each party to the Transaction Documents (other than the Investors) (and, as applicable, its officers, directors and shareholders)
necessary for the authorization, execution and delivery of the Transaction Documents, the performance of all obligations of each such
party, and, in the case of the Company, the authorization, issuance (or reservation for issuance), and delivery of the Investor Shares
and the Conversion Shares, has been taken or will be taken prior to the Closing. This Agreement is and each other Transaction Document
will be on or prior to the Closing, duly executed and delivered by each party thereto (other than the Investors) and (assuming the due
authorization, execution and delivery thereof by the other parties hereto or thereto) constitutes valid and legally binding obligations
of such party, enforceable against such party in accordance with its terms, except as limited by (a) applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws relating to or affecting the enforcement of creditors’ rights generally; and (b) laws
relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

		6.6	Consents and No Conflicts.
                                                           All Consents from or with any Governmental Authority or any other person required in connection with (i) the valid execution,
                                                           delivery and performance of the Transaction Documents, (ii) the consummation of the transactions contemplated by the Transaction
                                                           Documents, and (iii) performance of and compliance with Material Contracts to which any Group Company is a party, in any case on the
                                                           part of any party thereto (other than the Investors) have been duly obtained or completed (as applicable) and are in full force and
                                                           effect. The execution, delivery and performance of each Transaction Document by each party thereto (other than the Investors) do
                                                           not, and the consummation by such party of the transactions contemplated thereby will not (with or without the passage of time or
                                                           the giving of notice), (a) result in any violation of, be in conflict with, or constitute a default under, require any Consent
                                                           under, or give any person rights of termination, amendment, acceleration or cancellation under, any Governmental Order, any
                                                           provision of the Charter Documents of any Group Company, any applicable laws, any Material Contract
or by which any of the properties or assets of any Group Company may be bound; (b) result in any termination, modification, cancellation,
loss of any benefit, or suspension of any material right of, or any augmentation or acceleration of any material obligation of, any Group
Company (including without limitation, any Indebtedness of such Group Company); or (c) result in the creation of any Lien upon any of
the properties or assets of any Group Company other than Permitted Liens.

 

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		6.7	Offering. Assuming the accuracy
of the representations made by the Investors in Section 7.2 and Section 7.3 hereof, the offer, issue, and sale of the Investor
Shares and the Conversion Shares to the Investors are and will be exempted from the registration and prospectus delivery requirements
of the Securities Act.

 

		6.8	Valid Issuance of Shares. The Investor
Shares, when issued and allotted in accordance with the terms of this Agreement for the consideration expressed herein, will be duly and
validly issued, fully paid and non-assessable, free from any Liens (except for any restrictions on transfer under applicable laws, the
Restated Articles and under the Transaction Documents). The Conversion Shares have been reserved for issuance and, upon issuance in accordance
with the terms of the Restated Articles, will be duly and validly issued, fully paid and non-assessable, free from any Liens (except for
any restrictions on transfer under the Shareholders Agreement and the Restated Articles). The issuance of the Investor Shares and the
Conversion Shares is not subject to any preemptive rights, rights of first refusal or other similar rights of any person which have not
otherwise been waived.

 

		6.9	Compliance with Laws.

 

		(a)	Each Group Company is, and has been, in compliance with all applicable laws and regulations (including
any reporting obligations, any Consents applicable to it since its respective date of incorporation, COVID-19 related laws, regulations
and/or guidelines, and/or any applicable Tax laws and regulations (including Accounting Standards)) in all material respects. No event
has occurred and no circumstance exists that (with or without notice or lapse of time) (i) may constitute or result in a violation by
any Group Company of, or a failure on the part of such entity to comply with, any applicable laws or regulations (including any Consents),
except the violation of which has not or would not reasonably be expected to be material to any Group Company, taken as a whole; or (ii)
may give rise to any obligation on the part of any Group Company to undertake, or to bear all or any portion of the cost of, any remedial
action of any nature. None of the Group Companies has received any notice from any Governmental Authority regarding any of the foregoing.
None of the Group Companies is, to the knowledge of the Warrantors, under investigation or inquiry or may be subject to any pending or
threatened investigation or inquiry of any sort with respect to a violation of any law or regulation.

 

		(b)	All Consents from or with the relevant
                                            Governmental Authority required in respect of the due and proper establishment and operations
                                            of each Group Company as now conducted, including the Consents from or with MOFCOM, SAMR,
                                            SAFE, MIIT, any Tax bureau, customs authorities, and product registration authorities, and
                                            the local counterpart thereof, as applicable (or any predecessors thereof, as applicable)
                                            (collectively, the “Required Governmental Consents”), have been duly obtained
                                            or completed in accordance with all applicable laws.

 

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		(c)	No Required Governmental Consent contains any materially burdensome restrictions or conditions, and each
Required Governmental Consent is in full force and effect and will remain in full force and effect upon the consummation of the transactions
contemplated hereby. All such Consents are valid and have not lapsed, been cancelled, terminated or withdrawn. None of the Group Companies
is in default under any Required Governmental Consent, except where such default has not or would not reasonably be expected to be material
to any Group Company, taken as a whole. To the knowledge of the Warrantors, there is no reason to believe that any Required Governmental
Consent which is subject to periodic renewal will not be granted or renewed. None of the Group Companies has received any letter or other
communication from any Governmental Authority threatening or providing notice of revocation, termination, suspension, withdrawal or otherwise
limitation of any Required Governmental Consent issued to such Group Company or the need for compliance or remedial actions in respect
of the activities carried out directly or indirectly by such Group Company.

 

		6.10	Actions. There is no Action pending,
or to the Warrantors’ knowledge, threatened, against or affecting any Group Company or any of its officers, directors, employees
or any Founder Holding Companies (i) with respect to the Business or proposed business activities or any assets of such Group Company;
(ii) which may adversely affect any Warrantor’s ability and right to perform any obligation under the Transaction Documents; or
(iii) with respect to any officers, directors or employee of any Group Company in connection with such person’s respective relationship
with such Group Company. Without limiting the generality of the foregoing, there are no Actions pending against any of the Group Companies
or, to the knowledge of the Warrantors, threatened against any of the Group Companies, relating to the use by any employee of any Group
Company of any information, technology or techniques allegedly proprietary to any of their former employers, clients or other parties.
There is no judgment or award unsatisfied against any Group Company, nor is there any Governmental Order in effect and binding on any
Group Company or their respective assets or properties. There is no Action pending by any Group Company against any third party nor does
any Group Company intend to commence any such Action. No Governmental Authority has at any time challenged or questioned the legal right
of any Group Company to conduct the Business.

 

		6.11	Charter Documents; Books and Records.
The Charter Documents of each Group Company are in the form provided to each Investor. Each Group Company has been in compliance with
its Charter Documents, and none of the Group Companies has violated or breached any of their respective Charter Documents. Each Group
Company maintains its books of account and other financial records, minute books, stock record books, and other records (the “Books
and Records”) in the usual, regular and ordinary manner, on a basis consistent with prior practice, and which permits its Financial
Statements (as defined below) to be prepared in accordance with the Accounting Standards. Each Group Company has made available to each
Investor or its counsel a copy of its minute books. Such copy is true, correct and complete, and contains all amendments and all minutes
of meetings and actions taken by its shareholders and directors since the time of formation
through the date hereof and reflects all transactions referred to in such minutes accurately. The register of members and directors (if
applicable) of each Group Company is correct, there has been no notice of any proceedings to rectify any such register, and there are
no circumstances which might lead to any application for its rectification. All documents required to be filed by each Group Company with
the applicable Governmental Authority in respect of the relevant jurisdiction in which the relevant Group Companies is being incorporated
have been properly made up and filed.

 

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		6.12	Financial Statements. The Company
has delivered to each Investor the audited consolidated balance sheet and statement of operations and cash flows for the Group as of and
for the twelve-month periods ending on December 31, 2017, December 31, 2018 and December 31, 2019, and unaudited consolidated balance
sheet and income statement as at September 30, 2020 (the “Statement Date”, and all such financial statements collectively,
the “Financial Statements”). All Financial Statements (x) have been prepared in accordance with the Books and Records
of the relevant Group Companies; (y) truly and fairly present the financial condition and position of the relevant Group Companies as
of the dates indicated therein and the results of operations and cash flows of the relevant Group Companies for the periods indicated
therein, except in the case of unaudited financial statements for the omission of notes thereto and normal year-end audit adjustments
that are not expected to, individually or in the aggregate, be material to the relevant Group Companies; and (z) were prepared in accordance
with the applicable Accounting Standards applied on a consistent basis throughout the periods involved. To the extent that contingent
Liabilities were not required to be included in the Liabilities of any Group Companies reflected in the balance sheet of the Financial
Statements, such Liabilities have been adequately disclosed in the notes to the Financial Statements (other than the unaudited financial
statements which do not contain notes). All of the accounts receivable owing to any of the Group Companies, including without limitation
all accounts receivable set forth on the Financial Statements, constitute valid and enforceable claims and are current and collectible
in the ordinary course of business, net of any reserves shown on the Financial Statements (which reserves are adequate and were calculated
on a basis consistent with the Accounting Standards), and no further goods or services are required to be provided in order to complete
the sales and to entitle the applicable Group Company to collect in full in respect of any such receivables. All reserves, allowances
and discounts with respect to such accounts receivable were and are adequately consistent in extent with reserves, allowances an discounts
previously maintained by the Group Companies with respect to accounts receivable in the ordinary course of business consistent with past
practices. There are no material contingent or asserted claims, refusals to pay, or other rights of set-off with respect to any accounts
receivable of any Group Company. The financial projections and business plan provided by the Company to each Investor (including the annual
budget and the business plan) were reasonably prepared on a basis reflecting management’s best estimates, assumptions and judgments,
at the time provided to each Investor, as to the future financial performance of the Group.

 

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		6.13	Changes. Since the Statement
                                                            Date, each Group Company (a) has operated its business in the ordinary course consistent with its past practice; (b) used its
                                                            reasonable best efforts to preserve its business; (c) collected receivables and paid payables and similar obligations in the
                                                            ordinary course of business consistent with past practice; and (d) not engaged in any new line of business or entered into any
                                                            agreement, transaction or activity or made any commitment except
those in the ordinary course of business consistent with past practice. Since the Statement Date, there has not been any Material Adverse
Effect or any material change in the way any Group Company conducts its business, and there has not been by or with respect to any Group
Company:

 

		(a)	any purchase, acquisition, sale, lease, disposal of or other transfer of any assets that are individually
or in the aggregate material to its business, whether tangible or intangible, other than the purchase or sale of inventory in the ordinary
course of business consistent with its past practice;

 

		(b)	any acquisition (by merger, consolidation or other combination, or acquisition of stock or assets, or
otherwise) of any business or other person or division thereof, or any sale or disposition of any business or division thereof;

 

		(c)	any waiver, termination, cancellation, settlement or compromise by a Group Company of a material right,
debt or claim owed to it;

 

		(d)	any incurrence, creation, assumption, repayment, satisfaction, or discharge of (i) any Lien (other than
Permitted Liens) or (ii) any Indebtedness or guarantee, or the making of any loan or advance (other than reasonable and normal advances
to employees for bona fide expenses that are incurred in the ordinary course of business consistent with its past practice), or the making
of any investment or capital contribution;

 

		(e)	any amendment to or early termination of any Material Contract, or any amendment to or waiver under any
Charter Document;

 

		(f)	any change in any compensation arrangement or Contract with any employee of any Group Company, except
in the ordinary course of business consistent with past practice or adoption of any new Benefit Plan, or make any material change in any
existing Benefit Plan by more than twenty-five percent (25%);

 

		(g)	any declaration, setting aside or payment or other distribution in respect of any Equity Securities of
any Group Company, or any issuance, transfer, redemption, purchase or acquisition of any Equity Securities by any Group Company;

 

		(h)	any damage, destruction or loss, whether or not covered by insurance, that would have a material adverse
effect on the assets, properties, financial condition, operation or business of any Group Company;

 

		(i)	any material change in accounting methods or practices or any revaluation of any of its assets;

 

		(j)	except in the ordinary course of business consistent with its past practice, entry into any closing agreement
in respect of Taxes, settlement of any claim or assessment in respect of any Taxes, or consent to any extension or waiver of the limitation
period applicable to any claim or assessment in respect of any Taxes, entry or change of any Tax election, change of any method of accounting
resulting in an amount of additional Tax or filing of any material amended Tax Return;

 

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		(k)	any commencement or settlement of any Action;

 

		(l)	any authorization, sale, issuance, transfer, pledge or other disposition of any Equity Securities of any
Group Company;

 

		(m)	any resignation or termination of any Key Employee of any Group Company or any material group of employees
of any Group Company;

 

		(n)	any transaction with any Related Party; or

 

		(o)	any agreement or commitment to do any of the things described in this Section 6.13.

 

		6.14	Liabilities. No Group Company has
any Liabilities of the type required to be disclosed on a balance sheet except for (a) liabilities set forth in the Financial Statements
that have not been satisfied since the Statement Date; and/or (b) current liabilities incurred since the Statement Date in the ordinary
course of the Group’s business consistent with its past practices and which do not exceed US$100,000 in the aggregate. Except as
otherwise disclosed in Section 6.14 of the Disclosure Schedule, none of the Group Companies has any Indebtedness that it has directly
or indirectly created, incurred, assumed, or guaranteed, or with respect to which the Group Company has otherwise become directly or indirectly
liable. None of the Group Companies is a guarantor or indemnitor of any Liabilities of any other person (other than a Group Company).

 

		6.15	Tax Matters.

 

		(a)	Each Group Company has duly and timely filed all Tax Returns as required by law to have been filed by
it and all such Tax Returns are true, correct, and complete in all material respects and were prepared in compliance with all applicable
laws. Each Group Company has paid in full all Taxes (whether or not shown on any Tax Returns) required to be paid by it. No Tax Liens
(other than for current Taxes not yet due or payable) are currently in effect against any of the assets of any Group Company.

 

		(b)	The provisions for Taxes in the Financial Statements fully reflect all unpaid Taxes of each Group Company,
whether or not assessed or disputed as of the date of the applicable Financial Statements. The unpaid Taxes of any Group Company (i) did
not, as of the date of the Financial Statements, exceed the reserve for Tax liability (rather than any reserve for deferred Taxes established
to reflect timing differences between book and Tax income) set forth on the face of the Financial Statements (rather than in any notes
thereto); and (ii) do not exceed that reserve as adjusted for the passage of time through the Closing Date in accordance with the past
custom and practice of each Group Company in filing their Tax Returns.

 

		(c)	No Tax audits or administrative or judicial Tax proceedings by any Governmental Authority with respect
to the each Group Company is currently in progress or, to the knowledge of the Warrantors, has been threatened. No assessment of Tax has
been proposed in writing against any Group Company or any of their assets or properties. No Group Company has received from any Governmental
Authority (including jurisdictions where a Group Company has not filed Tax Returns) any (i) notice
indicating an intent to open audit or other review; (ii) request for information related to Tax matters; or (iii) notice of deficiency
or proposed adjustment for any amount of Tax proposed, asserted, or assessed by any Governmental Authority against any Group Company.
No Group Company is subject to any waivers or extensions of applicable statutes of limitations with respect to Taxes for any year. Except
for extensions applied for and granted in the ordinary practice of the applicable jurisdiction, no Group Company currently is the beneficiary
of any extension of time within which to file any Tax Return.

 

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		(d)	Since the Statement Date, no Group Company has incurred any Taxes other than in the ordinary course of
business consistent with past custom and practice. No Group Company has received any written claim from a Governmental Authority in a
jurisdiction where a Group Company does not file Tax Returns that such member of the Group Company is or may be subject to taxation by
that jurisdiction. No Group Company is treated as a resident for Tax purposes of, or is otherwise subject to income Tax in, or has branch,
permanent establishment, agency or other Taxable presence in, any jurisdiction other than the jurisdiction in which it has been established.

 

		(e)	Each Group Company has withheld and paid all Taxes required to have been withheld and paid in connection
with any amounts due, owing to or paid to any person.

 

		(f)	Each Group Company is in compliance in all respects with all terms, conditions and formalities necessary
for the continuance of any Tax exemption, Tax holiday, Tax credit, Tax incentive, Tax refund or other Tax reduction agreement or order
available under any applicable law. Each such Tax exemption, Tax holiday, Tax credit, Tax incentive, Tax refund or other Tax reduction
agreement or order is expected to remain in full effect throughout the current effective period thereof after the Closing Date and is
not subject to reduction, revocation, cancellation or any other changes (including retroactive changes) in the future, and no Group Company
has received any notice to the contrary or is aware of any event that may result in repeal, cancellation, revocation, or return of such
entitlements.

 

		(g)	Each Group Company is in compliance with all transfer pricing requirements in all jurisdictions in which
they are required to comply with applicable transfer pricing regulations, and all the transactions between any Group Company and other
Related Parties (including any Group Company) have been effected on an arm’s length basis. All exemptions, reductions and rebates
of material Taxes granted to any Group Company by a Governmental Authority are in full force and effect and have not been terminated as
evidenced with valid governmental approvals.

 

		(h)	The books and other records of each Group Company relating to Taxes, including documentation required
for intercompany transactions, have been properly maintained, are in all material respects correct and complete, and are physically or
electronically available for inspection on the premises of the relevant Group Company or the Group Companies’ Tax advisors.

 

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		(i)	No Group Company is responsible for Taxes of any other person by reason of contract, successor liability,
operation of law or otherwise. No member of the Group Company is, or has been, party to, involved with, bound by or otherwise subject
to any Tax-sharing agreement, Tax-allocation agreement or similar agreement.

 

		(j)	No Group Company will be required to include material amounts in income, or exclude material items of
deduction, or qualification for Tax exemption, Tax holiday, Tax credit, Tax incentive or Tax refund, in any Taxable period beginning after
the Closing Date as a result of (i) a change in method of accounting occurring on or prior to the Closing Date; (ii) agreement with any
Governmental Authority executed on or prior to the Closing Date; (iii) installment sale or open transaction disposition made on or prior
to the Closing Date; or (iv) prepaid amount received on or prior to the Closing Date. The transactions contemplated under this Agreement
and the other Transaction Documents to which any Group Company is a party are not in violation of any applicable law regarding Tax, and
will not result in any Tax exemption, Tax holiday, Tax credit, Tax incentive, or Tax refund being revoked, cancelled or terminated or
trigger any Tax liability for the Group.

 

		(k)	No Group Company (i) has been a member of an affiliated group filing a consolidated Tax Return (other
than an affiliated group the common parent of which is the Company); or (ii) has any Liability for the Taxes of any person (other than
the Group) as a result of the Group being part of or owned by, or ceasing to be part of or owned by, an affiliated, combined, consolidated,
unitary or other similar group prior to the Closing, as a transferee or successor, by contract or otherwise.

 

		(l)	Each Group Company has not entered into (i) any transaction the sole or main purpose of which was the
avoidance or deferral or reduction of Tax by each Group Company or any associated person; or (ii) any transaction the object of which
was the exclusion or reduction of the amount of any income, profits, gains, sales, supplies or imports made or enjoyed by each Group Company
or any associated person for any Tax purpose, or the creation or increase of the amount of any deduction, loss, allowance or credit claimed
or intended to be claimed by each Group Company or any associated person for any Tax purpose, that may be challenged, disallowed or investigated
by any Governmental Authority.

 

		(m)	To the knowledge of the Warrantors, there are no circumstances which have caused or could cause any Governmental
Authority to make any transfer pricing adjustment to the profits of each Group Company, or require any such adjustment to be made to the
terms on which any such transaction is treated as taking place, and no such adjustment has been made or threatened.

 

		(n)	Each Group Company has complied with all statutory provisions rules, regulations, orders and directions
in respect of any value added or similar Tax on sales and consumption, has promptly submitted accurate returns, maintains full and accurate
records, and has never been subject to any interest, forfeiture, surcharge or penalty and is not a member of a group or consolidation
with any other company for the purposes of value added Tax.

 

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		(o)	The Disclosure Schedule contains details of any concession, agreements (including agreements for the deferred
payment of any Tax liability) or other formal or informal arrangement with any Governmental Authority relating to the Group.

 

		(p)	No Group Company has filed any U.S. Tax election, including any entity classification election pursuant
to any applicable U.S. Treasury Regulations. The Company is not a “passive foreign investment company” within the meaning
of Code Section 1297(a). No Group Company owns a less than 25% equity interest (by value) in any other entity.

 

		(q)	There exist no encumbrances on any of the Group Companies’ assets that arose in connection with
any failure (or alleged failure) to pay any Tax.

 

		6.16	Material Contracts and Obligations.

 

		(a)	Section 6.16(a) of the Disclosure Schedule contains a complete and accurate list of all Material
Contracts as of the Closing Date. “Material Contracts” means, collectively, each Contract or group of related Contracts
in effect as of the Effective Date to which a Group Company or any of its properties or assets is bound or currently subject to that (i)
involves obligations (contingent or otherwise) or payments by, or which is reasonably expected to generate payments to, any Group Company
in any one (1) year in excess of US$150,000 (provided that the aggregate consideration payable to or by any Group Company which is a party
under such Contract or group of related Contracts, if any, shall be taken into account for the purposes of determining whether the relevant
monetary threshold of US$150,000 has been satisfied); (ii) (a) transferring of (or licensing or granting rights on an exclusive basis
in) any Intellectual Property, or (b) on a non-exclusive basis any material Intellectual Property or Systems, in each case, to or from
a Group Company, but excluding (x) in-licenses of uncustomized, “off-the-shelf”, commercially available Software for less
than US$100,000, and (y) non-exclusive licenses granted to customers of the Business in the ordinary course of business and consistent
with past practice, the forms of which have been provided to each Investor; (iii) restricts the ability of a Group Company to compete
or to conduct or engage in any business or activity or in any territory; (iv) relates to the sale, issuance, grant, exercise, award, purchase,
repurchase or redemption of any Equity Securities; (v) involves any provisions providing for exclusivity, “change in control,”
 “most favored nation,” rights of first refusal or first negotiation or similar rights, or grants a power of attorney, agency
or similar authority, except for the power of attorney granted to the filing agents engaged by any Group Company to assist such Group
Company to obtain necessary Consents from the Governmental Authorities in order to complete the transaction contemplated hereunder; (vi)
is with a Related Party; (vii) involves Indebtedness over US$100,000, an extension of credit, a guaranty, surety or assumption of any
obligation or any secondary or contingent Liabilities, deed of trust, or the grant of a Lien; (viii) involves the lease, license, sale,
use, disposition or acquisition of all or substantially all of the assets of a business, or (ix) involves the waiver, compromise, or settlement
of any dispute, claim, litigation or arbitration over US$50,000; (x) involves the ownership or lease of, title to, use of, or any leasehold
or other interest in, any real or personal property (except for personal property leases in the ordinary course
of business and involving payments of less than US$100,000), including without limitation, the Leases; (xi) involves the establishment,
contribution to, or operation of a partnership, joint venture, alliance or similar entity, or involving a sharing of profits or losses
(including joint development and joint marketing Contracts), or any investment in, loan to or acquisition or sale of the securities, equity
interests or assets of any person; (xii) is with a Governmental Authority, state-owned enterprise, or sole-source supplier of any material
product or service (other than utilities), including the Taiwan Government Project Agreement; (xiii) is a Benefits Plan, or a collective
bargaining agreement or is with any labor union or other representatives of the employees; (xiv) is a brokerage or finder’s agreement;
(xv) material sales agency, marketing, services, sales, advertising, licensing or distributorship Contract valued at over US$50,000 or
executed with brands identified in Exhibit K attached hereto; (xvi) the service agreement dated September 26, 2019 between the
Company and the Founder or (xvii) is otherwise material to a Group Company or is one on which a Group Company is substantially dependent.

 

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		(b)	A true, fully executed copy of each Material Contract including all amendments and supplements thereto
has been made available to each Investor or its counsel for review during the legal due diligence. Each Material Contract is a valid and
binding agreement of the Group Company that is a party thereto, the performance of which does not and will not violate any applicable
law or Governmental Order, and is in full force and effect and enforceable against the parties thereto, except (i) as may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, and (ii) as may be limited by laws relating to the availability of specific performance, injunctive relief or other
remedies in the nature of equitable remedies. Each Group Company has duly performed all of its obligations under each Material Contract
to the extent that such obligations to perform have accrued, and no breach, default or assertion of force majeure event, alleged breach,
alleged default or alleged assertion of force majeure event, or event which would (with the passage of time, notice or both) constitute
a breach or default thereunder by such Group Company or any other party or obligor with respect thereto, has occurred, or to the knowledge
of the Warrantors, as a result of the execution, delivery, and performance of the Transaction Documents will occur. No Group Company has
given notice that it intends to terminate a Material Contract or that any other party thereto has breached, violated or defaulted under
any Material Contract. No Group Company has received any notice that it has breached, violated or defaulted under any Material Contract
or that any other party thereto intends to terminate such Material Contract.

 

		6.17	Anti-Bribery, Anti-Corruption, Anti-Money
Laundering and Sanctions; Absence of Government Interests.

 

		(a)	Each Group Company, the Founder, the Founder Holding Companies and their respective directors, officers,
employees, agents, affiliates, and all other persons acting on their behalf (collectively, “Representatives”) are familiar
with and are and have been in compliance with all applicable Anti-Corruption Laws, Anti-Money Laundering Laws, Economic Sanctions, and
record keeping and internal control laws and regulations
(collectively, the “Compliance Laws”) including the FCPA as if it were a U.S. person. No Government Official holds
an ownership or other economic interest, direct or indirect, in any of the Group Companies or in the contractual relationship formed by
this Agreement or serves as an officer, director or employee of any Group Company.

 

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		(b)	Without limiting the foregoing, neither any Group Company nor any Representative has, directly or indirectly,
offered, authorized, promised, condoned, participated in, consummated, or received notice of any allegation of

 

		(i)	the making of any gift or payment of anything of value to any Government Official by any person to (A)
influence any act or decision of such Government Official in his or her official capacity; (B) obtain any improper advantage; (C) induce
such Government Official to act or omit to act in violation of lawful duties; (D) induce such Government Official to affect or influence
any act or decision of any Governmental Authority; (E) assist any Group Company in obtaining or retaining business for, or with, or directing
business to, any person; or (F) in connection with receiving any approval of the transaction contemplated herein;

 

		(ii)	the taking of any action by any person which (A) would violate the FCPA, if taken by an entity subject
to the FCPA; or (B) could reasonably be expected to constitute a violation of any applicable Compliance Law;

 

		(iii)	the making of any false or fictitious or inaccurate entries in the books or records of any Group Company
by any person; or

 

		(iv)	the using of any assets of any Group Company for the establishment of any unlawful or unrecorded fund
of monies or other assets, or the making of any unlawful or undisclosed payment.

 

		(c)	No Group Company or any of its Representatives has ever been found by a Governmental Authority to have
violated any criminal or securities law or is subject to any indictment or any government investigation for bribery, corruption, money
laundering, or economic sanctions violations. None of the beneficial owners of any Equity Securities or other interest in any Group Company
or the current or former Representatives of any Group Company are or were Government Officials.

 

		(d)	No Group Company or any of its Representatives is a Prohibited Person, and no Prohibited Person will be
given an offer to become an employee, officer, consultant, agent or director of any Group Company. No Group Company has conducted or agreed
to conduct any business, or entered into or agreed to enter into any transaction with a Prohibited Person.

 

		(e)	No action, suit, or proceeding by or before any court or Governmental Authority or regulatory agency,
authority, or body or any arbitrator involving the Group Companies or any of its Representatives with respect to the Anti-Money Laundering
Laws is pending, or threatened.

 

		(f)	No Group Company nor any of its Representatives has violated applicable laws regarding commercial bribery
by paying, offering or taking property, anything of value, or other interests to obtain improper benefits, impose undue influence, or
obtain other inappropriate commercial advantage with existing or potential business partners (“Business Partners”).
Business Partners include, but are not limited to, Governmental Authorities, non-government customers, suppliers or distributors, owners,
directors, managers or other employees of the entities identified above.

 

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		6.18	Property and Assets.

 

		(a)	Each Group Company has good and valid title to all of its assets, whether real or personal, tangible or
intangible (including those reflected in the Financial Statements, together with all assets acquired thereby since the Statement Date,
but excluding those that have been disposed of since the Statement Date in each case free and clear of all Liens (other than Permitted
Liens). The foregoing assets collectively represent all assets (including all rights and properties) necessary and sufficient for the
conduct of the Business. Except for leased or licensed assets, no person other than a Group Company owns any interest in any such assets.
To the knowledge of the Warrantors, all leases of real or personal property to which a Group Company is a party are fully effective and
afford the Group Company valid leasehold possession of the real or personal property that is the subject of the lease. All machinery,
vehicles, equipment and other tangible personal property owned or leased by a Group Company are in good condition and repair (reasonable
wear and tear excepted). There are no facilities, services, assets or properties which are used in connection with the business of the
Group and which are shared with any other person that is not a Group Company.

 

		(b)	No Group Company owns or has legal or equitable title or other right or interest in any real property
other than as held pursuant to Leases. Section 6.18(b) of the Disclosure Schedule sets forth each leasehold interest pursuant to
which any Group Company holds any real property (a “Lease”), indicating the parties to such Lease and the address of
the property demised under the Lease, the rent payable under the Lease and the terms of the Lease. Each Lease constitutes a valid, subsisting
and binding obligation of the relevant Group Company which is a party to such Lease, enforceable against such Group Company and, to the
knowledge of the Warrantors, against the other party or parties thereto, in accordance with its terms, except as limited by (a) applicable
bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or affecting the enforcement of creditors’ rights
generally; and (b) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. The lessor
under each Lease is qualified and has obtained all Consents necessary to enter into such Lease, including without limitation any Consents
required from the owner of the property demised pursuant to the Lease if the lessor is not such owner. There is no material claim asserted
or, to the knowledge of the Warrantors, threatened in writing by any person regarding the lessor’s ownership of the property demised
pursuant to each Lease. No Group Company is in default under or in breach of, any Lease. Each Lease is in compliance in all material respects
with applicable laws, including with respect to the ownership and operation of property
and conduct of business as now conducted by the applicable Group Company which is a party to such Lease. Each Group Company which is a
party to a Lease has accepted possession of the property demised pursuant to the Lease and is in actual possession thereof and has not
sublet, assigned or hypothecated its leasehold interest. No Group Company uses any real property in the conduct of its business except
insofar as it has secured a Lease with respect thereto. To the knowledge of the Warrantors, the leasehold interests under the Leases held
by each Group Company are adequate for the conduct of the Business of such Group Company as currently conducted. All rents and any other
payments due on each Lease (including any applicable stamp duties and other charges thereof, if any) have been paid on time.

 

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		6.19	Related Party Transaction. No Related
Party has any Contract, understanding, or proposed transaction with, or is indebted to, any Group Company or has any direct or indirect
interest in any Group Company other than as set forth in Section 6.2(a) of the Disclosure Schedule which includes but is not limited
to such Contracts entered into during the ordinary course of business at arm’s length, nor is any Group Company indebted (or committed
to make loans or extend or guarantee credit) to any Related Party (other than for accrued salaries, for the current pay period, reimbursable
expenses or other standard employee benefits). Other than transactions solely for any Group Company’s fund flow purposes, which
are properly disclosed in Section 6.19 of the Disclosure Schedule, each Related Party transaction is on arm’s length terms
or on terms no less favorable to the applicable Group Company as would have been obtainable by it in a comparable transaction with an
unrelated third party. Except as otherwise disclosed in Section 6.19 of the Disclosure Schedule, no Related Party has any direct
or indirect interest in any person with which a Group Company is affiliated or with which a Group Company has a material business relationship
(including any person which purchases from or sells, licenses or furnishes to a Group Company any goods, intellectual or other property
rights or services), or in any Contract to which a Group Company is a party or by which it may be bound or affected, and no Related Party
directly or indirectly competes with, or has any interest in any person that directly or indirectly competes with, any Group Company (other
than ownership of less than one percent (1%) of the stock of publicly traded companies).

 

		6.20	Intellectual Property.

 

		(a)	Company IP. Section 6.20(a) of the Disclosure Schedule sets forth an accurate and complete
list of all Intellectual Property that has been registered or for which applications for registration have been made that is owned by
or exclusively licensed to or purportedly owned by or exclusively licensed to the Group, and all unregistered Intellectual Property owned
by or exclusively licensed to or purportedly owned by or exclusively licensed to the Group that is material to the Business. Section
6.20(a) of the Disclosure Schedule specifically identifies, for each such item registered or applied to be registered Intellectual
Property, the registration or application number and date (as applicable), the jurisdiction, and the name of the registrant or applicant,
and for each item of exclusively or non-exclusively licensed Intellectual Property, the Contract pursuant to which such Intellectual Property
is licensed. Each Group Company solely and exclusively owns all Company Owned IP and owns or otherwise has sufficient rights (including the rights
of development, maintenance, licensing and sale) to use all other Intellectual Property and Technology used in or necessary for the Business
(“Company IP”) and will retain such rights immediately after the Closing.

 

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		(b)	IP Ownership. All Company Registered IP is owned by and registered or applied for solely in the
name of a Group Company, is valid and subsisting and has not been abandoned, and all necessary registration, maintenance and renewal fees
with respect thereto and currently due have been satisfied. No Group Company or any of its directors, and no employee or officer of any
Group Company has taken any actions or failed to take any actions that would cause any Company Owned IP to be invalid, unenforceable or
not subsisting. No funding or facilities of a Governmental Authority or a university, college, other educational institution or research
center was used in the development of any Company Owned IP. No Company Owned IP is the subject of any Lien, license or other Contract
granting rights therein to any other person. No Group Company is or has been a member or promoter of, or contributor to, any industry
standards bodies, patent pooling organizations or similar organizations that could require or obligate a Group Company to grant or offer
to any person any license or right to any Company Owned IP. No Company Owned IP is subject to any proceeding or outstanding Governmental
Order or settlement agreement or stipulation, or any other contractual obligation, that (i) restricts in any manner the use, transfer
or licensing thereof, or the making, using, sale, or offering for sale of any Group Company’s products or services, by any Group
Company; or (ii) may affect the validity, use or enforceability of such Company Owned IP. The Founder has assigned and transferred to
a Group Company any and all of her rights in any and all Intellectual Property related to the Business. No Group Company has (x) transferred
or assigned any Company IP material to the Business; (y) authorized the joint ownership of, any Company IP; or (z) permitted the rights
of any Group Company in any Company IP to lapse or enter the public domain.

 

		(c)	Infringement, Misappropriation and Claims. No Group Company or any of its products or services
have misappropriated, or violated, or infringed any Intellectual Property of any other person, nor has any Group Company received any
written notice alleging any of the foregoing except for the alleged trademark infringement claim brought by ArcSoft, Inc., which was later
settled among CyberLink Corporation, ArcSoft, Inc., Perfect USA, and the Company and executed by ArcSoft, Inc. on May 16, 2016 (the “ArcSoft
Settlement”). No person has violated, infringed or misappropriated any Company IP of any Group Company, and no Group Company
has given any notice to any other person alleging any of the foregoing. No Group Company has received any notice from any person challenging
the ownership, validity, enforceability, or use of any Company IP by it. No Group Company has agreed to indemnify any person for any infringement,
violation or misappropriation of any Intellectual Property by such person. The Group has been in compliance in all aspects with any and
all obligations under the ArcSoft Settlement.

 

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		(d)	Assignments and Prior IP. All inventions and know-how conceived by employees of a Group Company
related to the Business of such Group Company are owned exclusively by a Group
Company. All employees, contractors, agents and consultants of a Group Company who are or were involved in the creation of any Intellectual
Property for such Group Company have executed an assignment of inventions agreement that vests in a Group Company exclusive ownership
of all right, title and interest in and to such Intellectual Property, to the extent not already provided by law. The Group Companies
have paid any and all reward and remunerations required to be paid under applicable laws to their employee inventors who have created
service inventions for the Group Companies. No person, other than such Group Company, has any right, title or interest, directly or indirectly,
in whole or in part, in any Intellectual Property created or developed by such employees, contractors, agents and consultants. None of
the employees, consultants, agents, or independent contractors currently or previously employed or otherwise engaged by any Group Company,
(i) has excluded works or inventions related to the Business from his, her or its assignment of inventions pursuant to such agreements;
(ii) is in material violation of any current or prior confidentiality, non-competition or non-solicitation obligations to such Group Company
or to any other persons, including former employers; or (iii) is obligated under any Contract, or subject to any Governmental Order, that
would materially interfere with the use of his or her best efforts to promote the interests of the Group Companies or that would conflict
with the Business.

 

		(e)	Licenses. Section 6.20(e) of the Disclosure Schedule sets forth an accurate and complete
list of Licenses used in or necessary for the Business of such Group Company in the manner in which it is currently being conducted and
currently proposed to be conducted. The “License(s)” means, collectively, (i) all licenses, sublicenses, and other Contracts
to which any Group Company is a party or pursuant to which any third party is authorized to use, exercise or receive any benefit from
any material Company IP; and (ii) all licenses, sublicenses and other Contracts to which any Group Company is a party and pursuant to
which such Group Company is authorized to use, exercise, or receive any benefit from any material Intellectual Property of another person,
in each case except for (i) agreements involving uncustomized, “off-the-shelf”, commercially available Software for less than
US$100,000, and (ii) non-exclusive licenses to customers of the Business in the ordinary course of business and consistent with past practice,
the forms of which have been provided to each Investor. No Group Company has been or is in violation of any provision of any License.

 

		(f)	Software. Section 6.20(f)(i) of the Disclosure Schedule sets forth an accurate and complete
list of Software that are used in the conduct of the Business, excluding uncustomized, commercial-off-the-shelf Software available on
reasonable terms for an aggregate license fee of no more than US$100,000. Section 6.20(f)(ii) of the Disclosure Schedule sets forth
an accurate and complete list of all open source Software, freeware, public library or other Software distributed under similar licensing
or distribution models (“Open Source Software”) material to the business practices, methods, products, services or
operations of the Group Companies.

 

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		(g)	Systems. Each Group Company lawfully owns, leases or licenses all Systems that are used in the
operation of the Business and will retain such rights immediately after the Closing. The Group
has secured all necessary license rights from third party owners of Software, Intellectual Property and Technology utilized in connection
with the Systems sufficient for the Business. The Systems are adequate for current and expected needs of the Business. The Systems are
in satisfactory working order and have been properly maintained by technically competent personnel, in keeping with changing security
threats and advancing technologies, and by applying on a timely basis all security patches available for the Systems, and in the last
three (3) years there has not been, in relation to the Systems (or any elements thereof), any (i) failures, breakdowns, performance reductions,
interruptions or corruption of any of the Systems; or (ii) Security Breaches, which have had a material adverse effect on the Group or
caused material disruption, interruption or loss to the Group. The Group has, in accordance with applicable law, Data Protection Obligations
and standard industry practices in each relevant jurisdiction, implemented and maintained an information security program (w) that is
comprised of commercially reasonable organizational, physical, administrative, and technical safeguards designed to protect the security,
confidentiality, integrity and availability of the Systems, including all Personal Data and Sensitive Data Processed thereby and maintained
thereon, in a sustained manner and in keeping with changing data security threats and advancing technologies, and to prevent the Systems
(and data therein) from being affected by a Security Breach; (x) that is subject to the responsibility and oversight of its directors
and executive officers; (y) that is in compliance with Data Protection Obligations and consistent with industry practices in each relevant
jurisdiction; and (z) that has been implemented and maintained through regular training, auditing, review, and remediation in accordance
with standard industry practices and through the use of competent internal or external data security personnel or consultants. The Group
Companies have used their best efforts, consistent with industry best practices, to apply all security patches available for the Systems
on a timely basis. The Group has taken commercially reasonable steps to provide for the backup and recovery of data and information and,
as applicable, has taken commercially reasonable steps to implement such plans and procedures. The Group has implemented reasonable procedures
to identify, remediate and protect the Systems from all “back doors,” “Trojan horses,” “worms,” “drop
dead services,” “viruses” and other Software that permit unauthorized use of, access to or disablement of any Software,
data or Systems. Neither the Group nor its Systems have experienced any material unpermitted intrusions or been adversely affected by
and material denial-of-service attacks.

 

		(h)	Open Source Software. No Open Source Software has been incorporated into any Systems or Software
owned or licensed by the Group that would in any way obligate the Group to disclose to any third party the source code for any such Software.
Each of the Group Companies is in compliance with their obligations under their Contracts relating to Open Source Software, including
attribution and notice obligations. None of the Group Companies (i) has provided or is obligated to provide or license to any third party
the source code for any Software, or any part thereof, owned or purportedly owned by the Group; or (ii) is limited in its freedom to seek
full compensation in connection with the marketing, licensing or distribution of any of the products or services of the Business. Except
as otherwise disclosed in Section 6.20(h) of the Disclosure Schedule, no third person (including any
former or current employees, agents, consultants, or contractors) possesses any of the Group Companies’ proprietary source code
(other than escrow agents pursuant to escrow agreements, copies of which have been provided to Lead Investor). Each Group Company has
(w) adopted all appropriate technical and organizational security measures designed to protect against unauthorized, inadvertent, or accidental
use or incorporation of any Open Source Software into any Systems, Software owned or licensed by the Group, or any products or services
of the Group; (x) applied on a timely basis all security patches available for Open Source Software used or incorporated into any Systems,
Software owned or licensed by the Group, or any products or services of the Group; (y) adopted reasonable Open Source Software use policies
regarding the use or incorporation of Open Source Software into any Systems, Software owned or licensed by the Group, or any products
or services of the Group, and each Group Company is and in the past three (3) years has been in compliance in all respects with such policies;
and (z) used reasonable efforts to inform and train all employees, agents and consultants of the Group who create, develop, or maintain
Systems, Software owned or licensed by the Group, or any products or services of the Group of such policies, and no such employees, agents,
or consultants have in the past three (3) years failed to comply in any respect with such policies.

 

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		(i)	Protection of IP. Each Group Company has taken reasonable and appropriate steps to protect, maintain
and safeguard Company IP and made all applicable filings, registrations and payments of fees in connection with the foregoing. To the
extent that any Company IP has been developed or created independently or jointly by an independent contractor or other third party for
any Group Company, or is incorporated into any products or services of any Group Company, such Group Company has a written agreement with
such independent contractor or third party and has thereby obtained ownership of, and is the exclusive owner of all such independent contractor’s
or third party’s Intellectual Property in such work, material or invention by operation of law or valid assignment.

 

		(j)	Trade Secret. The Group has taken adequate security measures, consistent with best practices in
the industry in which the Group operates, to protect the secrecy, confidentiality and value of all the trade secrets and any other non-public,
proprietary information included in the Intellectual Property and Technology owned by the Group and used in the Business (including all
proprietary source code). The Group has executed valid, written agreements with all of its past and present employees, contractors and
consultants pursuant to which such employees, contractors and consultants have agreed to hold all trade secrets and other confidential
information of the Group Companies in confidence both during and after their engagement and/or employment. Without limiting the foregoing,
no confidential information owned by the Group or an Affiliate of any Group Company has been authorized to be disclosed or has been actually
disclosed to any person other than pursuant to a valid, written non-disclosure agreement restricting the disclosure and use of such information
both during and after the term of their engagement. No employees, contractors and consultants have misappropriated, or otherwise used,
trade secrets and any other non-public proprietary information of any person during their employments or relationships with the Group or in creating
any Intellectual Property and Technology owned by the Group or used in the Business.

 

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		(k)	Intra-Group Company license. Each Group Company has executed one or more intra-Group Company license
agreements that grant all Group Companies the rights and licenses to Company Owned IP necessary or used in their conduct of the Business
and to vest in the proper Group Company any Intellectual Property that is created by the Group Companies.

 

		(l)	Trademark Filing Plan. The Company has developed, filed and prosecuted the trademarks identified
in the Group Companies’ trademark portfolio in the PRC, Taiwan, and other jurisdictions material to the Business (the “Trademark
Filing Plan”) under the relevant classes, products and services as identified in the Trademark Filing Plan. The Company has
implemented the Trademark Filing Plan.

 

		6.21	Data Privacy and Security.

 

		(a)	Processing of Personal Data. The Group Companies have all rights, licenses, permissions, and consents
from the owners of Personal Data and required by all applicable laws and Data Protection Obligations to Process Personal Data to conduct
the Business.

 

		(b)	Compliance. Each Group Company has:

 

		(i)	and any Processing of Personal Data and Sensitive Data by it or on its behalf has, complied, and is in
compliance, in all material respects, with all applicable Data Protection Obligations including BIPA, CCPA and GDPR, including through
(y) implementing all appropriate and commercially reasonable technical and organizational security measures designed to protect the confidentiality,
integrity and availability of Personal Data and Sensitive Data and Systems, including against accidental or unlawful destruction or accidental
loss, alteration, unauthorized disclosure or access; and (z) implementing commercially reasonable privacy and security policies regarding
the Systems and the Processing of Personal Data and Sensitive Data in connection with the operation of the Business, and has used reasonable
efforts to inform all employees, agents and consultants of the Group who Process Personal Data or Sensitive Data on its behalf of such
policies, and each Group Company is and in the past three (3) years has been in compliance in all material respects with such policies;

 

		(ii)	obtained and maintained in full force and effect all consents, registrations and notifications required
under applicable Data Protection Obligations, and any Processing of Personal Data or Sensitive Data by it or on its behalf has been in
accordance with and within the scope of such consents, registrations and notifications;

 

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		(iii)	duly provided data subjects with information notices, which fully and accurately disclose how such Group
Company Processes Personal Data as required by applicable Data Protection Obligations, and acquired the consent of data subjects to the
Processing of their Personal Data by it or on its behalf as required under applicable Data Protection Obligations, and any and all Processing
of Personal Data by it or on its behalf has been in accordance with and within the scope of such notices and consents and the Data Protection
Obligations;

 

		(iv)	written agreements with each third party, including without limitation service providers, outsourcers
and data processors, which it has authorized to Process Personal Data or Sensitive Data on its behalf, which require such third party
to (v) take reasonable steps to protect and secure Personal Data and Sensitive Data from loss, theft, unauthorized access, use, modification,
disclosure or other misuse; (w) not retain any Personal Data and Sensitive Data for longer than is necessary for the Processing of the
Personal Data and Sensitive Data; (x) maintain an information privacy and security program that implements commercially reasonable and
appropriate measures to protect the privacy, operation, confidentiality, integrity, availability and security of all Personal Data and
Sensitive Data against any Security Breach; (y) maintain a written public-facing privacy policy that fully and accurately discloses how
the Group Company Processes Personal Data; and (z) comply at all times with applicable Data Protection Obligations; and

 

		(v)	complied with all Data Protection Obligations relating to third party data transfers, cross border data
transfers and data localization requirements.

 

		(c)	Data Breaches. There have been no incidents of (i) Security Breaches or (ii) unauthorized access
or unauthorized use of any Systems necessary for the operations of the Business, and no Group Company has been required by any applicable
Data Protection Obligation to notify any third party of any Security Breach. No Group Company has received a notice (including any enforcement
notice) or, letter of any complaint, claim, investigation or inquiry from a Data Protection Commissioner, or any other third party alleging
breach by it, of any Data Protection Obligations. No third party has been awarded compensation by a Data Protection Commissioner or by
a court of law from any Group Company under any Data Protection Obligations. No request has been made by a third party to, or order has
been made by a Data Protection Commissioner or a court of law against, any Group Company for access to, the rectification, blocking, erasure
or destruction of any Personal Data or Sensitive Data under any Data Protection Obligations.

 

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		(d)	Data Systems. The Data Systems are in satisfactory working order and have been properly maintained
by technically competent personnel, in keeping with changing security threats and advancing technologies, and by applying on a timely
basis all security patches available for the Data Systems, and in the last five (5) years there has not been, in
relation to the Data Systems (or any elements thereof), any (i) failures, breakdowns, performance reductions, interruptions or corruption
of any of the Data Systems; or (ii) Security Breaches, which have had a material adverse effect on the Group or caused material disruption,
interruption or loss to the Group. The Group has, in accordance with applicable laws and Data Protection Obligations and best industry
practices in each relevant jurisdiction, implemented and maintained an information security program (w) that is comprised of commercially
reasonable organizational, physical, administrative, and technical safeguards designed to protect the security, confidentiality, integrity
and availability of the Data Systems, including all Personal Data and Sensitive Data Processed thereby and maintained thereon, in a sustained
manner and in keeping with changing data security threats and advancing technologies, and to prevent the Data Systems (and data therein)
from being affected by a Security Breach; (x) that is subject to the responsibility and oversight of its directors and executive officers;
(y) that is in compliance with Data Protection Obligations and consistent with industry best practices in each relevant jurisdiction;
and (z) that has been implemented and maintained through regular training, auditing, review, and remediation in accordance with industry
best practices and through the use of competent internal or external data security personnel or consultants. The Group Companies have
applied all security patches available for the Data Systems of which it has been notified or has knowledge of after making due inquiry
and exercising due diligence consistent with best industry practices on a timely basis. The Group has taken commercially reasonable steps
to provide for the backup and recovery of Personal Data and Sensitive Data it Processes and, as applicable, has taken commercially reasonable
steps to implement such plans and procedures. The Group has implemented reasonable procedures to identify, remediate and protect the Data
Systems from all “back doors,” “Trojan horses,” “worms,” “drop dead services,” “viruses”
and other Software that permit unauthorized use of, access to or disablement of any Software, data or Data Systems. Neither the Group
nor its Data Systems have experienced any material unpermitted intrusions nor been adversely affected by any denial-of-service attacks.

 

		(e)	PCI-DSS. None of the Group Companies handles, uses, processes, stores, or transmits any payment
card data, and none of the Group Companies is subject to any obligations under the Payment Card Industry Data Security Standard.

 

		6.22	Labor and Employment Matters.

 

		(a)	Each Group Company has complied with all applicable laws related to labor or employment in all material
respects, including provisions thereof relating to labor contracts, wages, hours, working conditions, benefits, retirement, social welfare,
equal opportunity and collective bargaining. Except as otherwise disclosed in Section 6.22(a) of the Disclosure Schedule, there
is no pending or threatened, and there has not been since the incorporation of each Group Company, any Action relating to the violation
or alleged violation of any applicable laws and regulation by such Group Company related to labor or employment, including any Action,
charge or complaint filed by an employee with any Governmental Authority against any Group Company.

 

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		(b)	Section 6.22(b) of the Disclosure Schedule contains a true and complete list of each Benefit Plan
currently or previously adopted, maintained, or contributed to by any Group Company or under which any Group Company has any Liability
or under which any employee or former employee of any Group Company has any present or future right to benefits. Except for required contributions
or benefit accruals for the current plan year, no Liability has been or is expected to be incurred by any Group Companies under or pursuant
to any applicable laws relating to any Benefit Plan or individual employment compensation agreement, and no event, transaction or condition
has occurred or exists that would result in any such Liability to any Group Companies. Each of the Benefit Plans listed in Section
6.22(b) of the Disclosure Schedule is and has at all times been in compliance in all material respects with all applicable laws (including
without limitation, SAFE Rules and Regulations, if applicable), and all contributions to, and payments for each such Benefit Plan have
been timely made. There are no pending or, to the knowledge of the Warrantors, threatened Actions involving any Benefit Plan listed in
Section 6.22(b) of the Disclosure Schedule (except for claims for benefits payable in the normal operation of any Benefit Plan).
Each Group Company maintains, and has fully funded, each Benefit Plan and any other labor-related plans that it is required by law or
by Contract to maintain. Each Group Company is in compliance in all material respects with all laws and Contracts relating to its provision
of any form of Social Insurance, and has paid, or made provision for the payment of, all Social Insurance contributions required under
applicable laws and Contracts.

 

		(c)	There has not been, and there is not now pending or, to the knowledge of the Warrantors, threatened, any
strike, union organization activity, lockout, slowdown, picketing, or work stoppage or any unfair labor practice charge against any Group
Company. No Group Company is bound by or subject to (and none of their assets or properties is bound by or subject to) any written or
oral Contract, commitment or arrangement with any labor union or any collective bargaining agreements.

 

		(d)	Each of the Key Employees is currently devoting all of his or her business time to the conduct of the
business of the applicable Group Company, no such individual is subject to any covenant restricting him/her from working for any Group
Company, and no such individual is obligated under, or in violation of any term of, any Contract or any Governmental Order relating to
the right of any such individual to be employed by, or to contract with, such Group Company. No Group Company has received any notice
alleging that any such violation has occurred. To the knowledge of the Warrantors, no such individual is currently working or plans to
work for any other person that competes with any Group Company, whether or not such individual is or will be compensated by such person.
No such individual or any group of employees of any Group Company has given any written notice of an intent to terminate their employment
with any Group Company, nor does any Group Company have a present intention to terminate the employment of any such individual or any
group of employees.

 

		(e)	Neither the execution and delivery of this Agreement or any Transaction Document nor the consummation
of the transactions contemplated hereby or thereby would, either alone or in combination
with another event, (i) entitle any employee, director, officer or individual independent contractor of any Group Company to severance
pay or any material increase in severance pay; (ii) accelerate the time of payment or vesting, or materially increase the amount of compensation
due to such employee, director, officer or individual independent contractor; (iii) directly or indirectly cause any Group Company to
transfer or set aside any assets to fund any material benefits under any Benefits Plan, or (iv) limit or restrict the right to merge,
materially amend, terminate or transfer the assets of any Benefits Plan on or following the Closing.

 

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		6.23	Insurance. Each Group Company has
in full force and effect insurance policies, with coverage sufficient in amount (subject to reasonable deductibles) to allow it to reasonably
replace any of its properties and material assets that might be damaged or destroyed and in amounts customary for companies similarly
situated and, to the extent applicable, to comply with applicable insurance requirements under the Material Contract. There is no material
claim pending thereunder as to which coverage has been questioned, denied or disputed. All premiums due and payable under all such policies
and bonds have been timely paid, and to the knowledge of the Warrantors, each Group Company is otherwise in compliance in all material
respects with the terms of such policies and bonds. No notice has been received by any Group Company from any insurance carrier purporting
to cancel or limit coverage under such insurance policies.

 

		6.24	Internal Controls. Each Group Company
has maintained a system of effective internal accounting controls, including complete and accurate books and records, sufficient to provide
reasonable assurance that (a) such system is in accordance with Compliance Laws and applicable Accounting Standards; (b) transactions
(including derivative transactions) by each Group Company are executed in accordance with management’s general or specific authorization;
(c) transactions by each Group Company are recorded as necessary to permit preparation of financial statements in conformity with the
Accounting Standards and to maintain asset accountability; (d) access to assets of each Group Company is permitted only in accordance
with management’s general or specific authorization; (e) the recorded inventory of assets is compared with the existing tangible
assets at reasonable intervals and appropriate action is taken with respect to any material differences; (f) segregating duties for cash
deposits, cash reconciliation, cash payment, proper approval is established; and (g) no personal assets or bank accounts of the employees,
directors, officers are mingled with the corporate assets or corporate bank account, and no Group Company uses any personal bank accounts
of any employees, directors, officers thereof during the operation of the business.

 

		6.25	No Brokers. Except as otherwise
disclosed in Section 6.25 of the Disclosure Schedule, neither any Group Company nor any of its Affiliates has any Contract with
any broker, finder or similar agent with respect to the transactions contemplated by this Agreement or by any of the Transaction Documents,
or has incurred any Liability for any brokerage fees, agents’ fees, commissions or finders’ fees in connection with any of
the Transaction Documents or the consummation of the transactions contemplated therein.

 

		6.26	No General Solicitation. Neither
any Group Company, nor any of its officers, directors, employees, agents, stockholders or partners has either directly or indirectly,
including through a broker or finder (a) engaged in any general solicitation; or (b) published any advertisement in connection
with the offer and sale of the Investor Shares.

 

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		6.27	Non-compete. There is no non-compete
agreement or other similar commitment to which a Group Company is a party that would impose restrictions upon the Lead Investor, MC, or
their respective Affiliates.

 

		6.28	No Undisclosed Business.
Neither any Group Company nor any of its subsidiaries is engaged in insurance, banking and financial services, telecommunications or public
utility business or any other regulated business.

 

		6.29	Status. The Founder is a citizen
of Taiwan, resident in Taiwan and domiciled in Taiwan. The Founder is not a minor, and is of full age and sound mind.

 

		6.30	Founder Acknowledgement.

 

		(a)	The Founder has such knowledge and experience in financial and business matters that it is capable of
evaluating the risks of the transaction and the transactions contemplated hereby and thereby.

 

		(b)	The Founder has been given a copy of the Transaction Documents, is knowledgeable regarding the structure
of the transaction including the basis and purpose of each of the Transaction Documents to which it is a party and the transactions contemplated
thereby and the roles of each of the respective parties thereto, and further acknowledges that the structure of the transaction and the
entry into the related Transaction Documents is reasonable, customary in transactions of this type, is beneficial to the Founder, accords
with the intentions and objectives of the Founder and is necessary for obtaining the proceeds of sale and the fulfilment of the purposes
thereof as described in Transaction Documents.

 

		(c)	The Founder fully understand all of the terms, conditions, restrictions and provisions set forth in this
Agreement.

 

		(d)	The Founder has not been induced to engage in the obtaining of the proceeds of sale nor enter into any
Transaction Documents or the transactions contemplated thereby by means of any fraud, manipulation, legal manufacturing, fiction, fabrication
or other deceptive means.

 

		6.31	PRC Person. The Company is not
a PRC Person as of the date of this Agreement, and will not become a PRC Person as a result of the transactions contemplated under this
Agreement (including the Closing) or the other Transaction Documents.

 

		6.32	Disclosure. No representation or
warranty by the Warrantors in this Agreement and no information or materials provided by the Warrantors to each Investor in connection
with the negotiation or execution of this Agreement or any agreement contemplated hereby contains any untrue statement of a material fact,
or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances in which they are made, not misleading. Except as set forth in this Agreement or the Disclosure Schedule and to the knowledge
of the Warrantors, there is no fact that has not been disclosed to each Investor in writing that has had or would reasonably be expected
to have any Material Adverse Effect.

 

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		6.33	Separate and Independent Representation and
Warranty. Each of the representations and warranties in this Section 6 shall be separate and independent and shall not
be limited by reference to any other paragraph or anything in this Agreement or any other Transaction Document as agreed by the Parties.

 

		7.	Investor’s Representations and Warranties

 

Each Investor hereby severally but not
jointly represents and warrants to the Company that each of the following statements contained in this Section 7 shall be true,
complete and not misleading as of the Effective Date and as at the Closing Date, with the same effect as if made on and as of the date
of the Closing, except as otherwise indicated:

 

		7.1	Authorization. Such Investor has
all requisite power and authority to execute and deliver the Transaction Documents to which it is a party and to carry out and perform
its obligations thereunder. All action on the part of such Investor necessary for the authorization, execution and delivery of the Transaction
Documents to which it is a party has been taken or will be taken prior to the Closing. Each Transaction Document has been duly executed
and delivered by such Investor (to the extent it is a party), enforceable against such party in accordance with its terms, except as limited
by (a) applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or affecting the enforcement of
creditors’ rights generally; and (b) laws relating to the availability of specific performance, injunctive relief or other
equitable remedies.

 

		7.2	Purchase Entirely for Own Account.
Such Investor represents that it is acquiring its portion of the Investor Shares and Conversion Shares solely for its own account and
beneficial interest for investment and not for sale or with a view to distribution of its portion of the Investor Shares and Conversion
Shares or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation
in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention.

 

		7.3	Information and Sophistication.
Without lessening or obviating the representations and warranties of the Warrantors set forth in Section 6, such Investor hereby
(i) acknowledges that it has received all the information it has requested from Company and it considers necessary or appropriate for
deciding whether to acquire its portion of the Investor Shares and Conversion Shares, (ii) represents that it has had an opportunity to
ask questions and receive answers from the Group regarding the terms and conditions of the offering of the Investor Shares and Conversion
Shares and to obtain any additional information necessary to verify the accuracy of the information given such Investor, and (iii) further
represents that it is able to fend for itself and can bear the economic risk of its investment, that it has such knowledge and experience
in financial and business matters that it is capable of evaluating the merits and risk of this investment and that it is able, without
materially imparining its financial condition, to hold the Investor Shares and Conversion Shares for an indefinite period of time and
to suffer a complete loss of its investment.

 

		7.4	Restricted Securities. Such Investor
understands that the Investor Shares and Conversion Shares have not been, and will not be, registered under the Securities Act, by reason
of a specific exemption from the registration provisions of the Securities Act, which depends upon, among other things, the bona fide
nature of the investment intent and the accuracy of such Investor’s
representations as expressed herein. Such Investor acknowledges that the Company has no obligation to register or qualify the Investor
Shares and Conversion Shares for resale.  Such Investor further acknowledges that if an exemption from registration or qualification
is available, it may be conditioned on various requirements including the time and manner of sale, the holding period for the Investor
Shares and Conversion Shares, and on requirements relating to Company which are outside of such Investor’s control, and which Company
is under no obligation, and may not be able, to satisfy.

 

		7.5	Non-PRC Person. Each Investor is
not a PRC Person.

 

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		8.	Covenants

 

		8.1	Executory Period Covenants. Between
the Effective Date and the earlier of the Closing or the termination of this Agreement in accordance with Section 10 (Termination),
unless the Lead Investor and MC consent in writing otherwise:

 

		(a)	Pre-Closing Actions. As promptly as practicable, each Warrantor shall (i) use its best efforts
to obtain, or cause to be obtained, all Consents necessary to be obtained by such Party in order to consummate the transactions contemplated
pursuant to the Transaction Documents; and (ii) coordinate and cooperate with each Investor in exchanging such information and supplying
such assistance as may be reasonably requested by each Investor in connection with any filings and other actions to be made or taken in
order to consummate the transactions contemplated pursuant to the Transaction Documents.

 

		(b)	Non-Violation. Pending the Closing, none of the Warrantors shall take any action which (i) would
render any of the representations or warranties made by the Warrantors in this Agreement untrue if given with reference to the facts and
circumstances then existing; or (ii) would result in any of the covenants contained in this Agreement becoming incapable of performance.
Each Warrantor shall promptly advise the Investors of any action or event of which such Warrantor becomes aware which would have the effect
of making incorrect any such representations or warranties if given with reference to facts and circumstances then existing or which has
the effect of rendering any such covenants incapable of performance; provided that, such notice shall not cure any breach of any
representation or warranty requiring disclosure of such matter or any breach of any covenant, condition or agreement contained in this
Agreement or other Transaction Documents or otherwise limit or affect the rights of, or the remedies available to, the Investors, including
the rights and remedies under Section 11 (Indemnification).

 

		(c)	Conduct of Business. Except as otherwise permitted by the Transaction Documents, the Warrantors
shall: (i) carry on the Business in the ordinary course consistent with past practice and in substantially the same manner as conducted
prior to the date hereof and use their respective best efforts to preserve its relationships with customers, suppliers and others having
business dealings with the Group; and (ii) not commit any action or thing which would result in a breach of Section 6.13 (Changes).

 

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		8.2	Exclusivity. From the Effective
Date until the earlier of the Closing or the termination of this Agreement in accordance with Section 10 (Termination),
the Warrantors shall deal exclusively with the Investors in connection with any investment in any Group Company or the purchase of any
assets from any Group Company, and shall not, and shall cause their respective Affiliates and any person acting on behalf of them or any
of their Affiliates not to, directly or indirectly, solicit, initiate, encourage or entertain any inquiries or proposals from, discuss
or negotiate with, provide any non-public information to or consider the merits of any inquiries or proposals from, any person (other
than the Investors) relating to the transactions contemplated by this Agreement, including the sale of shares (including in trust), the
merger or consolidation of any Group Company, or the sale of all or any material portion of any Group Company’s business or assets,
or any comparable transaction or other transaction that would be inconsistent with the transactions contemplated by this Agreement. The
Warrantors shall immediately notify the Investors of any such inquiry or proposal promptly upon receipt or awareness of the same, or the
intention to solicit or initiate any such inquiry or proposal, by any Warrantor, their respective Affiliates, or any person acting on
their behalf.

 

		8.3	Intellectual Property. As soon
as practicable after the Closing but in any event no later than three (3) months after the Closing, each of the Group Companies that have
employees or contractors located in the United States who are privy to the trade secrets of the Group Companies shall, and each of the
Warrantors shall cause such Group Companies to, include the DTSA Notice in each such Group Company’s employment agreements or proprietary
information and inventions agreements in the United States in form and substance to the satisfaction of the Lead Investor.

 

		8.4	Data Privacy and Security.

 

		(a)	Each of the Group Companies shall, and each of the Warrantors shall cause the Group Companies to, comply
with all applicable Data Protection Obligations, including BIPA, CCPA, GDPR, and all current and then-current requirements with respect
to cross-border transmission of Personal Data and Sensitive Data.

 

		(b)	As soon as practicable after the Closing but in any event no later than three (3) months after the Closing:

 

		(i)	the Board shall discuss in good faith and shall establish, update, and implement consistent and comprehensive
data privacy policies and procedures, in form and substance to the satisfaction of the Lead Investor, that cover all its data practices
for the Group Companies and comply in all material aspects with all Data Protection Obligations, including a comprehensive data breach
response policy, and a comprehensive data retention policy;

 

		(ii)	each of the Group Companies shall, and each of the Warrantors shall cause the Group Companies to, work
in good faith and with reasonable care, diligence and effort to make any enhancements as reasonably required by the Investors, to ensure
that all important security patches available for the Group’s Data Systems are applied on a timely basis, and to ensure that all
security alerts are responded to and remediated in accordance with generally accepted information security practices; and

 

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		(iii)	each of the Group Companies shall, and each of the Warrantors shall cause the Group Companies to, hire
external counsel to design and implement data privacy and cybersecurity compliance programs, including the implementation of a commercially
reasonable backup and disaster recovery procedure to ensure the availability of critical data and information and the continued operation
of the business, in form and substance to the satisfaction of the Lead Investor.

 

		8.5	Compliance Policies and Training.
As soon as practicable after the Closing but in any event no later than three (3) months after the Closing, the Company shall (a) adopt
adequate and reasonably designed written anti-corruption, anti-bribery, anti-money laundering, and economic sanctions policies that are
applicable to each of the Group Companies, (b) conduct a training on the newly adopted compliance policies and procedures, and compliance
with applicable Compliance Laws, for its senior managers and other key employees, and (c) hire external counsel to design and implement
compliance and training programs. Each of (a), (b) and (c) shall be done to the reasonable satisfaction of the Lead Investor.

 

		8.6	Improvement of Internal Control System.
As soon as practicable after the Closing but in any event no later than three (3) months after the Closing, the Group Companies shall,
and the Warrantors shall procure the Group Companies to, set up and maintain internal control and sound corporate governance to the satisfaction
of the Lead Investor, including financing, derivative transactions, data privacy and Tax (including the timely filing of required Tax
Returns and timely payment of Taxes).

 

		8.7	Filing of the Restated Articles.
As soon as practicable after the Closing but in any event no later than ten (10) business days after the Closing, the Company shall deliver
a copy of such duly filed Restated Articles to each Investor stamped by the Registrar of Companies in the Cayman Islands.

 

		8.8	Compliance with Material Contracts and Law.
Each of the Group Companies shall, and each of the Warrantors shall cause the Group Companies to, conduct its business in compliance with
all Material Contracts and applicable laws in all material respects, including without limitation, all applicable laws in each jurisdiction
in which the Group Companies operate relating to (a) the Business; (b) the Intellectual Property; (c) data privacy including BIPA, CCPA
and GDPR; (d) Tax (including the timely filing of required Tax Returns and timely payment of Taxes, and compliance with accounting guidelines
(including Accounting Standards) and rules relating to stamp duties); (e) labor and employment; and (f) social welfare and Social Insurance.

 

		8.9	PRC Person. The Company and each
of the Warrantors shall ensure that (a) the Company will not be treated as a PRC Person pursuant to the PRC Investment Regulations; and
(b) Perfect Taiwan shall at all times remain as a wholly-owned subsidiary of the Company, and the Company shall remain the ultimate holding
company of the Group, subject to such measures (including implementing a group reorganization or restructuring) to ensure compliance of
the Group Companies with the PRC Investment Regulations or such other specific measures ordered by the Governmental Authority in Taiwan
as contemplated pursuant to Section 13.11 of the Shareholders Agreement.

 

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		8.10	PRC Investment Regulations Compliance.
The Company and Perfect Taiwan shall, and the Warrantors shall cause the Company and Perfect Taiwan to, take all necessary measures to
comply with the PRC Investment Regulations then in effect, including closely review the shareholding structure of any future investors
and assess the operation of any shareholders’ rights under this Agreement and the other Transaction Documents. In case where the
Governmental Authority in Taiwan opines that the Company’s group structure may violate the PRC Investment Regulations or upon the
receipt by the Group Company of a notification from the Governmental Authority in Taiwan indicating any Group Company’s violation
of the PRC Investment Regulations, the Group Companies shall, and the Warrantors shall cause the Group Companies to, take all necessary
measures (including implementing a group reorganization or restructuring) to mitigate and to rectify such violation or potential violation
and to ensure the compliance of the Group Companies with the PRC Investment Regulations in form and substance to the reasonable satisfaction
of the Lead Investor.

 

		8.11	Related Party Transactions. Each
of the Group Companies shall, and each of the Warrantors shall cause the Group Companies to, (a) comply with all applicable Tax laws,
and transfer pricing requirements and regulations; (b) ensure all transactions between any Group Company and other Related Parties (including
any Group Company) have been effected on an arm’s length basis; and (c) as soon as practicable after the Closing but in any event
no later than three (3) months after the Closing, conduct transfer pricing studies with its auditor for the Group in form and substance
to the reasonable satisfaction of the Lead Investor.

 

		8.12	Payment of Stamp Duty by Perfect Taiwan.
As soon as practicable after the Closing but in any event no later than three (3) months after the Closing, Perfect Taiwan shall, and
each of the Warrantors shall cause Perfect Taiwan to, pay all underpaid stamp duty to the applicable Governmental Authority in Taiwan,
with evidence of affixing and cancellation of stamps in accordance with the Taiwan Stamp Duty Act in form and substance to the reasonable
satisfaction of the Lead Investor being furnished to the Lead Investor as soon as practicable after such payment is made.

 

		8.13	NDA Amendment or Supplement. As
soon as practicable after the Closing but in any event no later than three (3) months after the Closing, the Group Companies shall, and
the Warrantors shall cause the Group Companies to, amend the existing NDA(s) entered into by the relevant Group Companies prior to the
date of this Agreement, or to enter into supplemental NDA(s), with the Key Employees in form and substance to the reasonable satisfaction
of the Lead Investor.

 

		8.14	Further Assurances. Upon the terms
and subject to the conditions herein, each of the Parties agrees to use its commercially reasonable efforts to take or cause to be taken
all action, to do or cause to be done, to execute such further instruments, and to assist and cooperate with the other Parties in doing,
in all material respects, all things necessary, proper or advisable under applicable laws or otherwise to consummate and make effective,
in the most expeditious manner practicable, the transactions contemplated by this Agreement and the other Transaction Documents, provided
that except as expressly provided herein, no Party shall be obligated to grant any waiver of any condition or other waiver hereunder.

 

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		9.	Confidentiality and Announcement

 

		9.1	Confidential Information. The Parties
acknowledge that the terms and conditions of this Agreement, the other Transaction Documents, any term sheet entered into pursuant to
the transactions contemplated hereby, all exhibits and schedules attached hereto and thereto, the transactions contemplated hereby and
thereby, including their existence, and all information furnished by any Party hereto and by representatives of such Parties to any other
Party hereof or any of the representatives of such Parties (collectively, the “Confidential Information”), shall be
considered confidential information and shall not be disclosed by any Party to any third party except in accordance with the provisions
set forth below. Notwithstanding any other provision of this Section 9, the confidentiality obligations of the Parties shall not
apply to (a) information which a receiving Party learns from a third party which the receiving party reasonably believes to have the right
to make the disclosure, provided that the receiving Party complies with any restrictions imposed by the third party; (b) information
which is rightfully in the receiving Party’s possession prior to the time of disclosure by the disclosing Party and not acquired
by the receiving Party under a confidentiality obligation; or (c) information which enters the public domain without breach of confidentiality
by the receiving Party.

 

		9.2	Permitted Disclosures. Notwithstanding
the foregoing, each Party may disclose (a) the Confidential Information to its current or bona fide prospective investors, Affiliates
and its and their respective partners, directors, officers and employees, bankers, transferees, lenders, accountants, legal counsels,
representatives or advisors who need to know such information, in each case only where such persons or entities are informed of the confidential
nature of the Confidential Information and are under appropriate non-disclosure obligations substantially similar to those set forth in
this Section 9.2; (b) such Confidential Information as required by law, regulation, legal process, subpoena, civil investigative
demand (or similar process), order, statute, rule, request or other legal or similar requirement made, promulgated or imposed by a court
or by a judicial, governmental, regulatory, self-regulatory (including stock exchange) or legislative body, organization, commission,
agency or committee or otherwise in connection with any judicial or administrative proceeding (including, in response to oral questions,
interrogatories or requests for information or documents); (c) such Confidential Information as is required to be disclosed pursuant to
examination requests from any Governmental Authority with authority to regulate such Party’s operations, in each case as such Party
deems appropriate in good faith; and (d) the Confidential Information to any person to which disclosure is approved in writing by the
other Parties. Any Party hereto may also provide disclosure in order to comply with applicable laws, as set forth in Section 9.3
below.

 

		9.3	Legally Compelled Disclosure. Except
as set forth in Section 9.2 above, in the event that any Party is requested or becomes legally compelled (including without limitation,
pursuant to any applicable Tax, securities, other laws of any jurisdiction, or any applicable stock exchange rules or regulations) to
disclose the existence of this Agreement or any Confidential Information, such party (the “Compelled Party”) shall
provide the other Parties hereto with prompt written notice of that fact and shall consult with the other Parties hereto regarding such
disclosure. At the request of any other Parties, the Compelled Party shall, to the extent reasonably possible and with the cooperation
and reasonable efforts of the other Parties, seek a protective order, confidential treatment or other appropriate remedy. In any event,
the Compelled Party shall furnish only that portion of the
information that is legally required and shall exercise reasonable efforts to obtain reliable assurance that confidential treatment will
be accorded such information. The provisions of this Section 9 shall terminate and supersede the provisions of any separate nondisclosure
agreement executed by any of the Parties with respect to the transactions contemplated hereby.

 

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		9.4	Press Release. None of the Warrantors
shall issue any press release or make any public announcement with respect to any Transaction Document or the transactions contemplated
hereby and thereby or use the name of any Investor, in the case of the Lead Investor, the name of Goldman, Sachs & Co. LLC, and in
the case of MC, the name of MC Investment Asset Holdings LLC, or any of their respective Affiliates without obtaining in each instance
the prior written consent of such Investor.

 

		9.5	Use of Logo. The Company shall
grant the Lead Investor, MC and their respective Affiliates permission to use the Company’s name and logo in their or their respective
Affiliate’s marketing and bid documentation in relation to potential transactions.

 

		9.6	No Promotion. The Company agrees
that it will not, without the prior written consent of the applicable Affiliate of the Lead Investor, in each instance, (a) use in advertising,
publicity, or otherwise the name of Goldman, Sachs & Co. LLC, or any Affiliate of the Lead Investor, or any partner or employee of
an Affiliate of the Lead Investor, nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction
or simulation thereof owned by Goldman, Sachs & Co. LLC or its Affiliates, or (b) represent, directly or indirectly, that any product
or any service provided by the Company has been approved or endorsed by Goldman, Sachs & Co. LLC or an Affiliate of the Lead Investor.
The Company further agrees that it shall obtain the written consent from the applicable Affiliate of the Lead Investor prior to the Company’s
issuance of any public statement detailing such Affiliate’s participation of in the transactions contemplated in the Transaction
Documents. The Company agrees that it will not, without the prior written consent of the applicable Affiliate of MC, in each instance,
(a) use in advertising, publicity, or otherwise the name of MC Investment Assets Holding LLC, or any Affiliate of MC, or any partner or
employee of an Affiliate of MC, nor any trade name, trademark, trade device, service mark, symbol or any abbreviation, contraction or
simulation thereof owned by MC or its Affiliates, or (b) represent, directly or indirectly, that any product or any service provided by
the Company has been approved or endorsed by MC or an Affiliate of MC. The Company further agrees that it shall obtain the written consent
from the applicable Affiliate of MC prior to the Company’s issuance of any public statement detailing such Affiliate’s participation
of in the transactions contemplated in the Transaction Documents.

 

		9.7	Other Information. The provisions
of this Section 9 shall be in addition to, and not in substitution for, the provisions of any separate non-disclosure agreement
executed by any of the parties with respect to the transactions contemplated hereby. Notwithstanding the preceding sentence, the provisions
of this Section 9 shall govern and supersede any prior confidentiality obligations entered into by the Lead Investor or MC in relation
to the transactions contemplated hereby, and such prior confidentiality obligations shall have no effect following the date hereof.

 

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		10.	Termination

 

		10.1	Termination. This Agreement may
be terminated prior to the Closing:

 

		(a)	by mutual written consent of the Company and each Investor with respect to the issuance of such Investor’s
portion of the Investor Shares;

 

		(b)	by written notice from either the Company or any Investor with respect to the issuance of such Investor’s
portion of the Investor Shares if a final non-appealable order permanently enjoining or otherwise prohibiting the transactions contemplated
by the Transaction Documents has been issued by a Governmental Authority of competent jurisdiction;

 

		(c)	by written notice from the non-breaching party to the breaching party if there has been a material misrepresentation
or material breach of a covenant or agreement contained in this Agreement, and such breach, if curable, has not been cured within thirty
(30) calendar days of such notice; or

 

		(d)	by written notice from either the Company or any Investor with respect to the issuance of such Investor’s
portion of the Investor Shares in the event the Closing fails to take place within one hundred and eighty (180) calendar days after the
date of this Agreement, or such other date as may be agreed in advance by the Parties hereto in writing; provided that the right
to terminate this Agreement under this Section 10.1(d) shall not be available to such Investor if the failure of such Investor
to fulfil or breach by such Investor of any obligation under this Agreement has been the cause of, or resulted in, the failure of the
Closing to occur on or before such date and time, and shall not be available to the Company if the failure of the Company to fulfil or
breach by the Company of any obligation under this Agreement has been the cause of, or resulted in, the failure of the Closing to occur
on or before such date and time.

 

		10.2	Effect of Termination and Survival.
If this Agreement is terminated as provided under Section 10.1, this Agreement will be of no further force or effect upon termination;
provided that (a) the termination will not relieve any Party from any liability for any antecedent breach of this Agreement, and
(b) Section 9 (Confidentiality and Announcement), this Section 10 (Termination), Section 11 (Indemnification)
and Section 12 (Miscellaneous) shall survive the termination of this Agreement.

 

		11.	Indemnification

 

		11.1	Each of the Warrantors hereby agrees to jointly and severally indemnify and hold harmless each Investor,
its Affiliates, its or its Affiliates’ respective directors, officers, employees, professional advisors, representatives, Associates,
agents and assigns (the “Indemnified Parties”), from and against any and all Indemnifiable Losses suffered by the Indemnified
Parties, directly or indirectly, as a result of, or based upon or arising from or relating to:

 

		(a)	any inaccuracy in or breach or violation of any of the representations or warranties, made by any Warrantor
in or pursuant to this Agreement or any of the other Transaction Documents (in each case, assuming that all qualifiers contained in this
Agreement and in any other Transaction Documents and each such schedule or certificate as to materiality, including each qualifying reference
to the defined term “Material Adverse Effect,” the words “material” and “materially” and all similar
phrases and words were deleted therefrom);

 

    55 

     

    

 

 

		(b)	any
                                            breach, non-performance or violation of any covenant or agreement contained in the Transaction
                                            Documents by any Warrantor;

 

		(c)	any
                                            fraud, willful misconduct, willful concealment or intentional misrepresentation on the part
                                            of the Warrantors;

 

		(d)	the
                                            occurrence of any matters set forth on Exhibit J attached hereto (to the extent that
                                            the status, state of affair or condition of such matter exists but notwithstanding any disclosure
                                            in the Disclosure Schedule or any knowledge otherwise acquired by any Indemnified Party at
                                            any time);

 

		(e)	any
                                            Taxes (or the non-payment thereof) of the Group Companies or the Business for all Taxable
                                            periods ending on or before the Closing Date and the portion through the end of the Closing
                                            Date for any Taxable period that includes (but does not end on) the Closing Date, or arising
                                            as a consequence of or by reference to any Event which occurred (or was deemed to occur for
                                            relevant Tax purposes) on or before the Closing; or

 

		(f)	(i)
                                            any Taxes imposed on the Indemnified Party by any Governmental Authority due to the Investors’
                                            payment of the Subscription Price and issuance of Investor Shares to the Investors at the
                                            Closing; and (ii) any Indemnifiable Loss attributable to (x) all liability for any Taxes
                                            of any other person imposed by any Governmental Authority on any Group Company as a transferee,
                                            successor, withholding agent, or accomplice in connection with an event or transaction occurring
                                            before the Closing; and (y) all liability for Taxes attributable to any misrepresentation
                                            or breach of warranty made in Section 6.15 (Tax Matters).

 

		11.2	Any
                                            Indemnified Party seeking indemnification shall give written notice to the Party required
                                            to provide indemnity hereunder (the “Indemnifying Party”). Any such notice
                                            shall describe in reasonable detail the basis on which such claim is being made, the material
                                            facts related thereto, and the amount of the claim asserted; provided that no failure
                                            to deliver such notice or no defect in the information contained in such notice from the
                                            Indemnified Parties to any Indemnifying Party will relieve such Indemnifying Party from any
                                            obligation under this Section 11. If any claim, demand or Liability is asserted by
                                            any third party against any Indemnified Party, the Indemnifying Party shall, upon the written
                                            request of the Indemnified Party, defend any actions or proceedings brought against the Indemnified
                                            Party in respect of matters embraced by the indemnity under this Section 11. If, after
                                            a request to defend any action or proceeding, the Indemnifying Party neglects to defend the
                                            Indemnified Party, a recovery against the Indemnified Party suffered by it in good faith
                                            shall be conclusive in its favor against the Indemnifying Party, provided that, if
                                            the Indemnifying Party has not received reasonable notice of the action or proceeding against
                                            the Indemnified Party or is not allowed to control its defense, judgment against the Indemnified
                                            Party shall only constitute presumptive evidence against the Indemnifying Party. The Indemnifying
                                            Party shall not, without the written consent of the Indemnified Party, compromise or settle
                                            any such third party claim or permit a default or consent to entry of any judgment unless
                                            the claimant or claimants and the Indemnifying Party provide to the Indemnified Party an
                                            unqualified release from all liability in respect of the third party claim.

 

    56

     

    

 

		11.3	The payment of any claims made
by an Indemnifying Party to an Indemnified Party hereunder shall be made promptly and in any event within ten (10) business days after
becoming due and payable. Any such payments will be made and deemed made to each Investor unless such Investor directs otherwise.

 

		11.4	Notwithstanding
                                            the foregoing, absent fraud and willful misconduct by any Warrantor, the maximum aggregate
                                            amount payable by the Indemnifying Parties to the Indemnified Parties pursuant to Section
                                            11.1 shall not exceed one time of the Subscription Price, provided that (a) such
                                            limitation shall not apply to any inaccuracies, misrepresentations or otherwise in violation
                                            of any Fundamental Warranties or Tax Warranties; and (b) the Indemnifying Parties shall not
                                            be obliged to indemnify the Indemnified Parties (i) if the aggregate amount of the Indemnifiable
                                            Loss is no more than US$500,000; and (ii) in respect of any inaccuracy in or breach or violation
                                            of the representations and warranties made by the Warrantors in Section 6.31, where the Investor
                                            with which such Indemnified Parties are concerned have breached their respective representations
                                            and warranties made under Section 7.5 and such breach is the cause of the Warrantors
                                            breaching the representations and warranties made by them in Section 6.31. For the
                                            avoidance of doubt, in respect of Section 11.1, until the total amount of the Indemnifiable
                                            Loss payable by the Indemnifying Parties exceeds US$500,000, no amount shall be payable by
                                            the Indemnifying Parties, and if such limit is exceeded, the Indemnifying Parties shall be
                                            liable for the full amount of Indemnifiable Loss of the Indemnified Parties and not just
                                            the excess.

 

		11.5	This
                                            Section 11 shall not be deemed to preclude or otherwise limit in any way the exercise
                                            of any other rights or pursuit of other remedies for the breach of this Agreement or the
                                            other Transaction Documents or with respect to any misrepresentation.

 

		12.	Miscellaneous

 

		12.1	Survival
                                            of Representations and Warranties. The representations and warranties of the Warrantors
                                            contained in this Agreement shall survive for three (3) years after the Closing; provided,
                                            however, that (a) the Fundamental Warranties shall survive the execution and delivery of
                                            this Agreement and the Closing indefinitely and (b) the Tax Warranties shall survive the
                                            applicable statute of limitation plus sixty (60) days thereafter.

 

		12.2	Successors
                                            and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement
                                            shall inure to the benefit of and be binding upon the respective successors and assigns of
                                            the Parties hereto whose rights or obligations hereunder are affected by such terms and conditions.
                                            No Party shall assign its rights and obligations to any other party, except that the Lead
                                            Investor and MC can assign their respective rights and obligations herein to any of its Affiliates.
                                            Nothing in this Agreement, express or implied, is intended to confer upon any Party other
                                            than the Parties or their respective successors and assigns any rights, remedies, obligations,
                                            or liabilities under or by reason of this Agreement, except as expressly provided in this
                                            Agreement.

 

		12.3	Amendments and Waivers.
With the written consent of (i) the Company, the Lead Investor and MC if such amendment or waiver is made prior to the Closing , or (ii)
the Investors holding a majority of the Investors Shares after the Closing, the terms of this Agreement may be amended, and any of its
terms may be waived (either generally or in a particular instance, either retroactively or prospectively and either for a specified period
of time or indefinitely) and any amendments or waivers so approved shall be binding as to all Parties; provided, however, that
any amendment or waiver relating to the rights or obligations of MC under Sections 9.4, 9.5, 9.6, 12.2 and
this proviso shall require the consent of MC. Neither this Agreement nor any provisions hereof may be amended, waived, discharged or
terminated orally, but only by a signed statement in writing.

 

    57

     

    

 

		12.4	No
                                            Waiver. Failure to insist upon strict compliance with any of the terms, covenants, or
                                            conditions hereof will not be deemed a waiver of such term, covenant, or condition, nor will
                                            any waiver or relinquishment of, or failure to insist upon strict compliance with, any right,
                                            power or remedy power hereunder at any one or more times be deemed a waiver or relinquishment
                                            of such right, power or remedy at any other time or times.

 

		12.5	Validity
                                            of the Agreement. This Agreement shall become effective on the Effective Date subject
                                            to the execution of it by the authorized representatives of the Parties, and shall continue
                                            in force.

 

		12.6	Entire
                                            Agreement. This Agreement together with the other Transaction Documents, together with
                                            all schedules and exhibits hereto and thereto, constitute and contain the entire agreement
                                            among parties and supersede any and all prior agreements, negotiations, correspondence, understandings
                                            and communications among parties, whether written or oral, respecting the subject matter
                                            hereof.

 

		12.7	Notices.

 

		(a)	Unless
                                            otherwise agreed by the Parties, all notices, requests, demands, consents, instructions or
                                            other communications required or permitted hereunder shall be in writing and sent by hand
                                            or by messenger, addressed to:

 

		(i)	if
                                            to any Warrantor:

 

		Address:	14F,
                                            Minquan Rd., Xindian City, New Taipei City 231, Taiwan

		Attention:	Alice
                                            H. Chang

		Email:	alice@perfectcorp.com

 

		(ii)	if
                                            to Investors, as set forth on Exhibit B attached hereto.

 

		(b)	All such notices and communications
shall be effective (i) when sent by international express courier or other overnight service of recognized standing, on the business
day following the deposit with such service; (ii) when mailed, by registered or certified mail, first class postage prepaid and addressed
as aforesaid, upon the earlier of actual receipt or the fourth business day after the date of mailing; (iii) when delivered by hand,
upon delivery; (iv) when faxed, upon confirmation that all pages have been transmitted except where the dispatch is not on a business
day; and (v) when emailed, upon such email being sent by the sender and no transmission error message being received by the sender. If
a communication would otherwise be deemed to have been delivered outside normal business hours (after 5:30 p.m. on a business day) in
the time zone of the territory of the recipient under this Section 12.7, it shall be deemed to have been delivered at 9:30 a.m.
on the next business day in the territory of the recipient. In proving service of communication, it shall be sufficient to show that
delivery by hand was made or that the envelope containing the communication was properly addressed and mailed or that the facsimile transmission
was despatched and a confirmatory transmission report or other acknowledgment of good receipt was received.

 

    58

     

    

 

		12.8	No
                                            Partnership. Nothing contained in this Agreement is intended to, or shall be deemed to,
                                            create a partnership or joint venture relationship among the Parties or any of their Affiliates
                                            for any purpose, including Tax purposes. Neither of the Parties nor any of their Affiliates
                                            will take a position contrary to the foregoing.

 

		12.9	Severability.
                                            If any provision of this Agreement or the application thereof to any person or circumstance
                                            shall be invalid or unenforceable to any extent, the remainder of this Agreement and the
                                            application of such provision to other persons or circumstances shall not be affected thereby
                                            and shall be enforced to the maximum extent permitted by law.

 

		12.10	Governing
                                            Law. This Agreement and all actions arising out of or in connection with this Agreement
                                            shall be governed by and construed in accordance with the laws of Hong Kong without regard
                                            to principles of conflicts of law.

 

		12.11	Dispute
                                            Resolution. Any dispute, controversy, difference or claim arising out of or relating
                                            to this Agreement, including the existence, validity, interpretation, performance, breach
                                            or termination thereof or any dispute regarding non-contractual obligations arising out of
                                            or relating to it shall be referred to and finally resolved by arbitration administered by
                                            the Hong Kong International Arbitration Centre (the “HKIAC”) under the
                                            HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted.
                                            The law of this arbitration clause shall be the laws of Hong Kong. The seat of arbitration
                                            shall be Hong Kong. The number of arbitrators shall be three (3).  The complainant
                                            and the respondent to such dispute shall each select one (1) arbitrator and the chairperson
                                            of the HKIAC shall elect the third arbitrator. The arbitration proceedings shall be conducted
                                            in English. The decision of the arbitration tribunal shall be final, conclusive and
                                            binding on the parties to the arbitration.

 

		12.12	Fees and Expenses. The
Company and each Investor (other than the Lead Investor) shall bear its own costs and all Taxes (including stamp duties) arising out
of or in connection with this Agreement, the other Transaction Documents and the transactions contemplated hereby and thereby. Further,
(a) at the Closing, or (b) if this Agreement and the transactions contemplated hereby are terminated due to the failure of any Party
(other than the Lead Investor) to fulfill, or breach by any Party (other than the Lead Investor) of, any obligation under this Agreement
and such failure or breach has been the cause of, or resulted in, the failure of the Closing to occur, within ten (10) business days
of such termination, the Company shall also pay or reimburse all reasonable costs, expenses and fees incurred by the Lead Investor and
its advisors (with such payment subject to a cap of US$300,000) in connection with the negotiation, execution, delivery and performance
of this Agreement, the other Transaction Documents and the transactions contemplated hereby and thereby, including the actual fees and
disbursements of counsel and other professional advisors to the Lead Investor (the “Lead Investor Transaction Costs”).
The Lead Investor shall be entitled to offset against its payment of any portion of its Subscription Price hereunder the amount of any
Lead Investor Transaction Costs payable to the Lead Investor. Subject to the foregoing, in the event that this Agreement and the transactions
contemplated hereby are terminated by any Investor at its discretion, such Investor shall bear its own costs and all Taxes arising out
of or in connection with this Agreement, the other Transaction Documents and the transactions contemplated hereby and thereby.

 

    59

     

    

 

		12.13	No
                                            Presumption. The Parties acknowledge that any applicable law that would require interpretation
                                            of any claimed ambiguities in this Agreement against the Party that drafted it has no application
                                            and is expressly waived. If any claim is made by a Party relating to any conflict, omission
                                            or ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion
                                            will be implied because this Agreement was prepared by or at the request of any Party or
                                            its counsel. Each Party agrees and acknowledges that (a) each of them was afforded sufficient
                                            opportunity to obtain independent legal advice regarding this Agreement, the other Transaction
                                            Documents, the transactions contemplated hereby and thereby; and (b) each of them fully understands
                                            all of the terms, conditions, restrictions and provisions set forth in this Agreement, the
                                            other Transaction Documents and the obligations and liabilities hereof and thereof.

 

		12.14	Delays
                                            or Omissions. Except as expressly provided herein, no delay or omission to exercise any
                                            right, power or remedy accruing to any Party upon any breach or default of any other Party
                                            under this Agreement shall impair any such right, power or remedy of such non-defaulting
                                            Party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
                                            therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver
                                            of any single breach or default be deemed a waiver of any other breach or default theretofore
                                            or thereafter occurring. Any waiver, permit, consent or approval of any kind or character
                                            on the part of any Party of any breach or default under this Agreement, or any waiver on
                                            the part of any Party of any provisions or conditions of this Agreement, must be in writing
                                            and shall be effective only to the extent specifically set forth in such writing.

 

		12.15	Titles
                                            and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for
                                            convenience of reference only and are not to be considered in construing this Agreement.

 

		12.16	Counterparts.
                                            This Agreement may be executed in any number of counterparts, each of which shall be deemed
                                            an original, but all of which together shall constitute one and the same instrument. Facsimile
                                            and emailed copies of signatures shall be deemed to be originals for purposes of the effectiveness
                                            of this Agreement.

 

		12.17	Joint
                                            and Several Liabilities. The liabilities of each of the Warrantors under the Transaction
                                            Documents or in relation to a breach of the Transaction Documents by any of them shall be
                                            joint and several.

 

		12.18	Obligations
                                            of Investors. The obligations of the Investors hereunder shall be several and not joint.
                                            No Investor shall be responsible for the breach of any provision of this Agreement by any
                                            other Investor.

 

		12.19	Rights Cumulative; Specific
Performance. Each and all of the various rights, powers and remedies of a Party will be considered to be cumulative with and in addition
to any other rights, powers and remedies which such Party may have at law or in equity in the event of the breach of any of the terms
of this Agreement. Without limiting the foregoing, the Warrantors acknowledge and agree that irreparable harm may occur for which money
damages would not be an adequate remedy in the event that any of the provisions of this Agreement were not performed by the Warrantors
in accordance with their specific terms or were otherwise breached by any Warrantor. It is accordingly agreed that each Investor shall
be entitled to injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement.

 

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		12.20	Third
                                            Party Rights. The Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the laws
                                            of Hong Kong) shall not apply to this Agreement and, unless expressly provided herein, no
                                            person other than the Parties shall have any rights under it nor shall it be enforceable
                                            by any person other than the Parties.

 

		12.21	No
                                            Fiduciary Duty. The parties hereto acknowledge and agree that nothing in this Agreement
                                            or other Transaction Documents shall create a fiduciary duty of (i) Goldman, Sachs &
                                            Co. LLC or any Affiliate of the Lead Investor or (ii) MC or any Affiliate of MC, to the Company
                                            or its shareholders.

 

		12.22	Investment
                                            Bank Services. Notwithstanding anything to the contrary herein or in the other Transaction
                                            Documents or any actions or omissions by representatives of Goldman, Sachs & Co. LLC
                                            or any of its Affiliates in whatever capacity, including as a director to the Board, it is
                                            understood that neither Goldman, Sachs & Co. LLC nor any of its Affiliates is acting
                                            as a financial advisor, agent or underwriter to the Company or any of its Affiliates or otherwise
                                            on behalf of the Company or any of its Affiliates unless retained to provide such services
                                            pursuant to a separate written agreement.

 

		12.23	Exculpation
                                            Among Investors. Each Investor acknowledges that it is not relying upon any person, firm
                                            or corporation, other than the Company and its officers and directors, in making its investment
                                            or decision to invest in the Company. Each Investor agrees that no Investor nor the respective
                                            controlling persons, officers, directors, partners, agents, or employees of any Investor
                                            shall be liable to any other Investor for any action heretofore or hereafter taken or omitted
                                            to be taken by any of them in connection with the transactions contemplated herein.

 

		12.24	Lead
                                            Investor Role.

 

		(a)	The
                                            Founder has not relied, and will not rely, upon any investigation or due diligence that the
                                            Lead Investor may have conducted with respect to the transaction and nothing in the Transaction
                                            Documents or the discussions with the Lead Investor in relation to the transactions contemplated
                                            by the Transaction Documents should be construed as a recommendation to the Founder to participate
                                            in the transaction.

 

		(b)	The
                                            Founder has obtained independent legal, financial and tax advice in relation to its obligations
                                            and liabilities under the Transaction Documents and has consulted or will consult its advisors
                                            or otherwise satisfy itself concerning, without limitation, the tax, legal, currency and
                                            other economic considerations relating to the transactions contemplated by the Transaction
                                            Documents.

 

[Signature
Pages Follow]

 

    61

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

 

	 	“Company”	 
	 	 	 	 
	 	Perfect
    Corp.	 
	 	 	 	 
	 	By:	/s/
    Alice H. Chang	 
	 	Name:  	Alice
    H. Chang	 
	 	Title:
    	Director
    and Chief Executive Officer	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

  

	 	“Perfect
BVI”	 
	 	 	 	 
	 	Perfect
Mobile Corp.	 
	 	 	 	 
	 	By:	/s/
Alice H. Chang	 
	 	Name:  	Alice H. Chang	 
	 	Title:
	Director	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

  

     

     

    

  

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Perfect
    HK”	 
	 	 	 	 
	 	Perfect
    Mobile Limited. (玩美移動股份有限公司)	 
	 	 	 	 
	 	By:	/s/
    Alice H. Chang	 
	 	Name:  	Alice
    H. Chang	 
	 	Title:
    	Director	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

  

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Perfect
    Japan”	 
	 	 	 	 
	 	Perfect
    Corp. (パーフェクト株式会社)	 
	 	 	 	 
	 	By:	/s/
    Yorinobu Isozaki	 
	 	Name:  	Yorinobu
    Isozaki	 
	 	Title:
    	General
    Manager	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

  

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Perfect
Shanghai”	 
	 	 	 	 
	 	Perfect
Corp (Shanghai) Co., Ltd. (玩美商贸(上海)有限公司)	 
	 	 	 	 
	 	By:	/s/
Baoping Hu	 
	 	Name:  	Baoping Hu	 
	 	Title:
	Legal
Representative	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Perfect
Taiwan”	 
	 	 	 	 
	 	Perfect
Mobile Corp. (玩美移動股份有限公司)	 
	 	 	 	 
	 	By:	/s/
Clinton Huang	 
	 	Name:  	Clinton Huang	 
	 	Title:
	Authorized
Signatory	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

  

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Perfect
U.S.A.”	 
	 	 	 	 
	 	Perfect
Corp.	 
	 	 	 	 
	 	By:	/s/
Alice H. Chang	 
	 	Name:  	Alice H. Chang	 
	 	Title:
	Director	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

 

	 	“Founder”	 
	 	 	 
	 	/s/
    Alice H. Chang	 
	 	Name:
    Alice H. Chang	 
	 	 	 
	 	World
    Speed Company Limited 	 
	 	 	 
	 	By:	/s/
    Sun, Liang-Chu	 
	 	Name:	Sun, Liang-Chu	 
	 	Title:	Director	 
	 	 	 
	 	Golden
    Edge Co., Ltd	 
	 	 	 
	 	By:	/s/
    Chen, Hsiao-Chuan	 
	 	Name:  	Chen,
    Hsiao-Chuan	 
	 	Title:	Director	 
	 	 	 
	 	DVDonet.com
    Inc.	 
	 	 	 
	 	By:	/s/
    Sun, Liang-Chu	 
	 	Name:   	Sun, Liang-Chu	 
	 	Title:	Director	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Lead
    Investor”	 
	 	 	 
	 	Goldman
    Sachs Asia Strategic II Pte. Ltd.	 
	 	 	 
	 	By:	/s/
    Tan Ching Chek	 
	 	Name:	Tan Ching
    Chek	 
	 	Title:
    	Director	 
	 	 	 
	 	StoneBridge
    2020, L.P.	 
	 	By:
     Bridge Street Opportunity Advisors, L.L.C., its general partner	 
	 	 	 
	 	By: 	/s/
    Susan Hodgkinson	 
	 	Name:
    	Susan
    Hodgkinson	 
	 	Title:
    	Vice President
    & Secretary	 
	 	 	 
	 	StoneBridge
    2020 Offshore Holdings II, L.P.	 
	 	By:
     Bridge Street Opportunity Advisors, L.L.C., its general partner	 
	 	 	 
	 	By:	/s/
    Susan Hodgkinson	 
	 	Name:  	Susan
    Hodgkinson	 
	 	Title: 	Vice President & Secretary	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

  

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Investor”	 
	 	 	 	 
	 	CyberLink
International Technology Corp.	 
	 	 	 	 
	 	By:	/s/
Huang, Jau-Hsiung	 
	 	Name:  	Huang, Jau-Hsiung	 
	 	Title:
	Director	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Investor”	 
	 	 	 	 
	 	Yuanta
Asia Investment (Hong Kong) Limited	 
	 	 	 	 
	 	By:	/s/
Yu, Hsiao-Tsai	 
	 	Name:  	Yu, Hsiao-Tsai
 游曉翠	 
	 	Title:
	President	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Investor”	 
	 	 	 
	 	The
    Kleinrock 1990 Trust	 
	 	 	 
	 	By:	/s/
    Leonard Kleinrock	 
	 	Name:
    	Leonard
    Kleinrock	 
	 	Title:	Trustee	 
	 	 	 
	 	“Investor”	 
	 	 	 
	 	LMRN,
    L.P.	 
	 	 	 
	 	By:
    	/s/
    Leonard Kleinrock	 
	 	Name:
      	Leonard
    Kleinrock	 
	 	Title:	General Partner	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers
as of the date first written above.

 

	 	“Investor”	 
	 	 	 	 
	 	MC
Investment Asset Holdings LLC	 
	 	 	 	 
	 	By:	/s/Steve
Hwang	 
	 	Name:  	Steve Hwang	 
	 	Title:
	President	 

 

Signature
Page to Series C Preferred Share Subscription Agreement Perfect Corp.

 

     

     

    

 

Exhibit
A 

Schedule
of the Founder and the Founder Holding Companies

 

     

     

    

 

 

Exhibit B

Schedule of Investors

  

     

     

    

 

Exhibit C

Capitalization Table Immediately Prior to and Following the Closing

 

     

     

    

 

Exhibit D

Disclosure Schedule

 

     

     

    

 

Exhibit E

Form of Compliance Certificate

 

PERFECT CORP.

 

________, 2020

 

Capitalized terms used herein
without definition have the meaning ascribed to such terms in the Series C Preferred Share Subscription Agreement entered into on December
11, 2020 (the “Agreement”) by, among others, Perfect Corp., a company organized under the laws of the Cayman Islands
with its registered office located at c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104 (the “Company”)
and the Investor or Investors listed on Exhibit B attached thereto (the “Investors” and each, an “Investor”).
This Compliance Certificate (this “Certificate”) is being issued pursuant to Section 4.6 of the Agreement.

 

The undersigned, Alice H.
Chang, the Company’s Chairman, hereby certifies on behalf of Company that:

 

		1.	all of the conditions specified in Section 4 of the Agreement have been fulfilled; and

 

		2.	the attached Fourth Amended and Restated Memorandum and Articles of Association of Company is a true and
complete copy of the Restated Articles as in effect as of the date hereof.

 

IN WITNESS WHEREOF, the undersigned
has set forth his signature on this Certificate as of the date first set forth above.

 

	 	For and on behalf of
	 	Perfect Corp.
	 	 
	 	By:	 
	 	Name: Alice H. Chang
	 	Title: Chairman

 

     

     

    

 

Exhibit F

Form of Shareholders Agreement

 

     

     

    

 

Exhibit G

Form of Restated Articles

 

     

     

    

 

Exhibit H

Form of Director Indemnification Agreement

 

     

     

    

 

Exhibit I

List of Key Employees

 

 

     

     

    

 

Exhibit J

Specific Indemnification Events

 

		1.	any non-compliance with the PRC Investment Regulations by the Company or Perfect Taiwan;

 

		2.	any non-compliance with any terms and conditions under the Taiwan Government Project Agreement by Perfect
Taiwan;

 

		3.	any non-compliance with any applicable Tax laws and regulations (including the transfer pricing requirements
and regulations) and/or the accounting guidelines of the Group Companies adopted from time to time by any Group Company;

 

		4.	any non-compliance with any applicable Data Protection Obligations including BIPA, CCPA and GDPR;

 

		5.	any Security Breach; and

 

		6.	any breach of any Material Contract.

 

     

     

    

 

Exhibit K

Identified Brands

 

     

     

    

 

Exhibit L

Form of Cayman Legal Opinion

 

     

     

    

 

Exhibit M

Form of Taiwan Legal Opinion

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