Document:

Exhibit 10.5

 

SUBSCRIPTION AGREEMENT

 

TO:       The
sole director of A SPAC II Acquisition Corp. (the “Company”).

 

WHEREAS, on June 28, 2021 the Company issued
to its sponsor, A SPAC II (Holdings) Corp. 5,750,000 Class B ordinary shares (the “Shares”) of the Company for an aggregate
purchase price of $25,000, or approximately $0.004 per share;

 

WHEREAS, on March 24, 2022, the
Company canceled 431,250 of such Shares for no consideration; and

 

NOW, THEREFORE, the undersigned hereby
subscribes for 5,318,750 Shares of the Company for which such aggregate purchase price of $25,000 was provided on June 28, 2021.

 

We agree to take the Shares subject to the Memorandum
and Articles of Association of the Company and we authorize you to enter the following name and address in the register of members of
the Company:

 

	 	Name:	A SPAC II (Holdings)  Corp.

		Address:	Cheung Kong Center

58th Floor, Unit 5801

 2 Queens Road Central 

Central 

Hong Kong

 

In the event of the Company’s initial public
offering (the “IPO”) of units on a recognised stock exchange and the over-allotment option granted to the underwriters of
the IPO (the “Overallotment Option”) is not exercised in full, we acknowledge and agree that the Company shall forfeit any
and all rights to such number of the Shares purchased and issued to us such that immediately following such forfeiture, we will own, in
total, an aggregate number of the ordinary shares (not including the ordinary shares underlying any private placement units or warrants
(whether comprised in any such units or standing alone) that may be issued to us upon exercise of any warrants or any securities or rights
purchased by us in the IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the Company immediately
following the IPO.

 

If any of the Shares are forfeited in accordance
with this agreement, then after such time we shall no longer have any rights as a holder of such forfeited Shares, and the Company shall
take such action as is appropriate to redeem and cancel such forfeited Shares, which may include by way of the compulsory redemption and
cancellation of such Shares for nil consideration. In addition, we hereby irrevocably grants the Company a limited power of attorney for
the purpose of effectuating the foregoing and agrees to take any and all action reasonably requested by the Company necessary to effect
any adjustment in this letter (including any such redemption as is referred to herein above).

 

     

     

    

 

For and on behalf of

A SPAC II (Holdings)  Corp.

 

	By: 	/s/	 
	Name:	 
	Title:	 
	 	 
	Dated:	 	 
	 	 
	Accepted:	 
	 	 
	For and on behalf of	 
	A SPAC II Acquisition Corp.	 
	 	 
	By:	 /s/	 
	Name:	 
	Title:	 
	 	 
	Dated:	 	 

 

    2Exhibit 10.6

 

WARRANT
SUBSCRIPTION AGREEMENT

 

This WARRANT SUBSCRIPTION AGREEMENT
(this “Agreement”) is made as of this [●], 2022, by and between A SPAC II Acquisition Corp., a British
Virgin Islands business company (the “Company”), having its principal place of business at 289 Beach Road, #03-01,
Singapore 199552, and A SPAC II (Holdings) Corp., a British Virgin Islands business company (the “Purchaser”).

 

WHEREAS,
the Company desires to sell on a private placement basis (the “Offering”)
an aggregate of up to 8,450,000 warrants (the “Initial Warrants”) of
the Company, and up to an additional 971,250 warrants (“Additional Warrants”
and together with the Initial Warrants, the “Warrants”) of the Company
in the event that the underwriters’ 45-day over-allotment option (“Over-Allotment Option”)
in the Offering is exercised in full or part, each Warrant exercisable for one Class A ordinary share of the Company, no par value (the
 “Ordinary Shares”), for a purchase price of $11.50 per Ordinary Share.

 

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

 

1.                 
Agreement
to Subscribe

 

1.1         
Purchase and Issuance of the Warrants. For the aggregate sum of $8,450,000 (the “Initial Purchase Price”),
upon the terms and subject to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company
hereby agrees to sell to the Purchaser, on the Closing Date (as defined in Section 1.2) 8,450,000 Initial Warrants at $1.00 per Initial
Warrant.

 

In
addition to the foregoing, the Purchaser hereby agrees to purchase up to an additional 971,250 Additional Warrants at $1.00 per Additional
Warrant for a purchase price of up to $971,250 (the “Additional Purchase Price”
and together with the Initial Purchase Price, the “Purchase Price”).
The purchase and issuance of the Additional Warrants shall occur only in the event that the Over-Allotment Option is exercised in full
or part. The total number of Additional Warrants to be purchased hereunder shall be in the same proportion as the amount of the OverAllotment
Option that is exercised. Each purchase of Additional Warrants shall occur simultaneously with the consummation of any portion of the
Over-Allotment Option.

 

1.2         
Closing. The closing of the purchase and sale of the Initial Warrants shall take place at the offices of ArentFox Schiff
Hardin LLP, 1717 K Street NW, Washington, DC 20006 simultaneously with the consummation of the Company’s initial public offering
(“IPO”) and the purchase and sale of the Additional Warrants shall take place upon the consummation of the
exercise of all or any portion of the Over-Allotment Option (each a “Closing Date”).

 

     

     

    

 

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

 

1.4        
Delivery
of Warrants. Upon the applicable Closing Date after delivery of the Purchase Price in accordance with Section 1.3, the Purchaser
shall become irrevocably entitled to receive the Warrants purchased hereunder.

 

2.                
Representations
and Warranties of the Purchaser

 

The
Purchaser represents and warrants to the Company that:

 

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

 

2.2         Organization.
It is a business company, validly existing and in good standing under the laws of the British Virgin Islands and possesses all
requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

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

 

    2

     

    

 

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

 

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

 

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

 

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

 

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

 

    3

     

    

 

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

 

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

 

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

 

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

 

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

 

    4

     

    

 

3.                
Representations
and Warranties of the Company

 

The
Company represents and warrants to the Purchaser that:

 

Valid
Issuance of Share Capital. The total number of all classes of share capital which the Company has authority to issue is (i)
500,000,000 Class A Ordinary Shares, (ii) 50,000,000 Class B ordinary shares, and (iii) 1,000,000 undesignated preference shares. As
of the date hereof, the Company has issued 5,318,750 Class B ordinary share that will automatically convert into Class A ordinary shares
immediately at consummation of the Company’s initial Business Combination (as defined below) and has not issued any preference
shares. All of the issued share capital of the Company has been duly authorized, validly issued, and are fully paid and non-assessable.

 

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

 

3.2         
Organization
and Qualification. The Company has been duly incorporated and is validly existing as a British Virgin Islands business company and
has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.

 

3.3         
Authorization;
Enforcement. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this
Agreement and to issue the Securities in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement
by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate
action, and (iii) this Agreement constitutes, and upon the execution and delivery thereof, the Warrants and Warrant Agreement,
will constitute, valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization,
or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by equitable principles
of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities
laws or principles of public policy.

 

    5

     

    

 

3.4         
No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i) result in a violation of the Company’s Memorandum and Articles of Association, (ii) conflict with, or constitute
a default under any agreement, indenture or instrument to which the Company is a party or (iii) conflict with any law statute, rule or
regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject. Other than any
federal, state or foreign securities filings which may be required to be made by the Company subsequent to the Closing, and any registration
statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation to obtain
any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or self-regulatory
entity in order for it to perform any of its obligations under this Agreement or issue the Warrants or the Warrant Shares in accordance
with the terms hereof.

 

4.                 
Legends

 

4.1         Legend.
The Company will issue the Warrants, and when issued, and the Warrant Shares, purchased by the Purchaser, in the name of the
Purchaser. The Securities will bear the following Legend and appropriate “stop transfer” instructions:

 

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

 

    6

     

    

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BETWEEN A SPAC II ACQUISITION CORP. AND A SPAC II (HOLDINGS) CORP. AND MAY ONLY BE OFFERED,
SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH THEREIN.”

 

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

 

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

 

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

 

5.                
Lockup

 

The
Purchaser acknowledges and agrees that the Warrants and the Warrant Shares shall not be transferable, saleable or assignable except as
described in the Warrant Agreement.

 

6.                  Securities
Laws Restrictions

 

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

 

7.                 
Waiver of Distributions from Trust Account

 

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

 

    7

     

    

 

8.                 
Rescission Right Waiver and Indemnification

 

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

 

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

 

8.3             
Section 8 Waiver. The Purchaser agrees that to the extent any waiver
of rights under this Section 8 is ineffective as a matter of law, the Purchaser has offered such waiver for the benefit of the Company
as an equitable right that shall survive any statutory disqualification or bar that applies to a legal right. The Purchaser acknowledges
the receipt and sufficiency of consideration received from the Company hereunder in this regard.

 

9.                 
Terms of the Warrants

 

The Private Warrants shall
be substantially identical to the Warrants offered in the IPO as set forth in the Underwriting Agreement, except as described in the
Warrant Agreement.

 

10.             
Governing Law; Jurisdiction; Waiver of Jury Trial

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly
performed within such territory. The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant
to this Agreement and the transactions contemplated hereby.

 

    8

     

    

 

11.             
Assignment; Entire Agreement; Amendment

 

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

 

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

 

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

 

11.4          Binding
upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective
heirs, legal representatives, successors and permitted assigns.

 

12.             
Notices; Indemnity

 

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

 

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

 

    9

     

    

 

13.             
Counterparts

 

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

 

14.             
Survival; Severability

 

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

 

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

 

15.             
Headings

 

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

 

16.             
Construction

 

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

 

[remainder
of page intentionally left blank]

 

    10

     

    

 

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

 

By:

Name:
Claudius Tsang

Title:
Chief Executive Officer and Chief Financial Officer

 

Accepted
and agreed this

 

_________  day
of [ ], 2022

 

A
SPAC II (HOLDINGS)  CORP.

 

By:

Name:
Serena Shie

Title:
Authorized Signatory 

 

[Signature
Page for Warrant Subscription Agreement]

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