Document:

EX-10.6

 Exhibit 10.6 

AMENDMENT TO 
 SECURITIES
SUBSCRIPTION AGREEMENT 
 This AMENDMENT to the SECURITIES SUBSCRIPTION AGREEMENT (this “Amendment”) is entered into as
of July 26, 2022 (the “Effective Date”), by and between Global Star Acquisition I LLC, a Delaware limited liability company (the “Subscriber” or “you”), and Global Star Acquisition, Inc., a Delaware
corporation (the “Company,” “we” or “us”). 
 WHEREAS, the Parties entered into a Securities Subscription
Agreement dated February 14, 2022 (the “Original Agreement”). 
 WHEREAS, the Parties hereto desire to amend the Original
Agreement and intend to modify Section 3. Forfeiture of Shares and Section 4. Waiver of Liquidation Distributions; Redemption Rights. 

WHEREAS, the Subscriber desires to surrender 575,000 founder shares to the Company for cancellation, for no consideration. 

NOW, THEREFORE, in consideration of the promises and mutual covenants and conditions contained in this Agreement and other good and valuable
consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, the Parties agree to amend the Original Agreement as follows: 
  

	 	1.	 The Subscriber hereby surrenders 575,000 founder shares to the Company. 

 

	 	2.	 Section 3 and Section 4 of the Original Agreement is amended by deleting the existing Section 3
and Section 4 and replacing it in its entirety by the following: 

  

	 	3.	 Forfeiture of Shares. 

3.1     Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the
underwriters of the IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 300,000 Shares
and pro rata based upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares (not
including (i) any private placement units that are expected to be purchased at the closing of the IPO, (ii) shares of Class A common stock issuable upon exercise of any warrants or (iii) shares of Class A common stock
purchased by Subscriber in the IPO or in the aftermarket) equal to 20% of the issued and outstanding shares of the Company’s common stock immediately following the IPO (excluding private placement units that are expected to be purchased at the
closing of the IPO and securities expected to be issued to the underwriters for the IPO). 
 3.2     Termination of
Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited
Shares, and the Company shall take such action as is appropriate to cancel such forfeited Shares. 

 3.3     Share Certificates. In the event an adjustment to the
Original Certificate, if any, is required pursuant to this Section 3, then the Subscriber shall return such Original Certificate to the Company or its designated agent as soon as practicable upon its receipt of notice from
the Company advising Subscriber of such adjustment, following which a new certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held by the Subscriber. The New Certificate,
if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment for any Uncertificated Securities held by the Subscriber shall be made in book-entry form. 

4.     Waiver of Liquidation Distributions; Redemption Rights.  

4.1     In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and all
right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds of the
IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination as defined in the Company’s Certificate of Incorporation. For
purposes of clarity, in the event the Subscriber purchases shares of Class A common stock in the IPO or in the aftermarket (the “Additional Shares”), any additional Shares of Class A common stock so purchased shall be eligible to
receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any shares of common stock, both Shares and Additional Shares, into funds held in the Trust Account upon the successful
completion of an initial business combination. 
 4.2     In connection with the Shares purchased pursuant to this
Agreement and the Additional Shares, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the Trust Account in connection with the approval by the Company’s
shareholders of an amendment to the Company’s Certificate of Incorporation: (i) that modifies the substance or timing of the Company’s obligation to provide for the redemption of the Company’s Series A Common shares public shares
in connection with an initial business combination or to redeem 100% of our public shares if the Company does not complete its initial business combination within 12 months from the date of the IPO (or up to 21 months from the date of the IPO at the
election of the Company pursuant to nine one month extensions subject to satisfaction of certain conditions, including the deposit of up to $264,000 per month or $303,600 per month if the underwriters’ over-allotment option is exercised in full
($0.033 per unit in either case); or (ii) with respect to any other material provision relating to stockholders’ rights or pre-initial business combination activity. 

3.     Scope of Amendment. This Amendment is limited to the matters expressly set forth in Section 1 hereof
and, except to the extent expressly set forth in Section 1 hereof, all of the provisions of the Original Agreement shall continue in full force and effect, 

4.     Governing Law. This Amendment and all acts and transactions pursuant hereto and the rights and obligations
of the parties hereto shall be governed, construed and interpreted in accordance with the internal Laws of the State of Delaware, without giving effect to principles of conflicts of law. 

5.     Counterparts’ Facsimile Transmission. This Amendment may be executed in two 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; and it being understood that both parties need not sign the
same counterpart. In the event that any signature is 

 delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature page were an original thereof. 

If the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.

  

			
	Global Star Acquisition, Inc.
		
	By:	 	 /s/ Anthony Ang

	Name:	 	Anthony Ang
	Title:	 	Chief Executive Officer
	
	Global Star Acquisition I LLC
		
	By:	 	 /s/ Ted Kim

	Name:	 	Ted Kim
	Title:	 	Managing MemberEX-10.7

 Exhibit 10.7 

Global Star Acquisition, Inc.
 1641 International Drive Unit 208

 McLean, VA 22102 

[            ], 2022 

Ladies and Gentlemen: 
 Global Star Acquisition,
Inc. (the “Company”), a blank check company formed for the purpose of acquiring one or more businesses or entities (a “Business Combination”), intends to register its securities under the Securities Act of 1933, as amended
(“Securities Act”), in connection with its initial public offering (“IPO”), pursuant to a registration statement on Form S-1 (“Registration Statement”). 

The undersigned hereby commits that it will purchase 456,225 units of the Company (“Private Units”), each Private Unit consisting of
one share of Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”), one warrant (the “Warrants”) and one right, with each whole warrant entitling its holder to purchase one
(1) share of Class A Common Stock, for a purchase price of $4,562,250 (the “Private Unit Purchase Price”). 
 The
undersigned hereby agrees that it will purchase an additional amount of units of the Company (“Over-Allotment Units”), up to a maximum of 42,000 Over-Allotment Units, or a maximum purchase price of $420,000 (“Over-Allotment Unit
Purchase Price”, together with the Private Unit Purchase Price, the “Purchase Price”), in the event EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”) exercises its over-allotment option, such that the
amount held in the trust account (as described in the Registration Statement) does not fall below $10.25 per share for each share of Class A Common Stock sold in the IPO. 

At least twenty-four (24) hours prior to the effective date of the Registration Statement, the undersigned will cause the Private Unit
Purchase Price to be delivered to Nelson Mullins Riley & Scarborough LLP (“Nelson Mullins”), counsel for the Company, by wire transfer as set forth in the instructions attached as Exhibit A to hold in a non-interest bearing account until the Company consummates the IPO. 
 The consummation of the purchase
and issuance of the Private Units shall occur simultaneously with the consummation of the IPO and the consummation of the purchase and issuance of the Over-Allotment Units shall occur simultaneously with the closing of any exercise of the
over-allotment option related to the IPO. Simultaneously with the consummation of the IPO, Nelson Mullins shall deposit the Private Unit Purchase Price, without interest or deduction, into the trust fund (“Trust Fund”) established by the
Company for the benefit of the Company’s public shareholders as described in the Registration Statement. If the Company does not complete the IPO within ten (10) days from the date of this letter, the Private Unit Purchase Price (without
interest or deduction) will be returned to the undersigned. 
 Each of the Company, and the undersigned acknowledges and agrees that Nelson
Mullins is serving hereunder solely as a convenience to the parties to facilitate the purchase of the Private Units and Nelson Mullins’s sole obligation under this letter agreement is to act with respect to holding and disbursing the Private
Unit Purchase Price as described above. Nelson Mullins shall not be liable to the Company, EF Hutton or the undersigned or any other person or entity in respect of any act or failure to act hereunder or otherwise in connection with performing its
services hereunder unless Nelson Mullins has acted in a manner constituting gross negligence or willful misconduct. The Company and the undersigned shall indemnify Nelson Mullins against any claim made against it (including reasonable
attorney’s fees) by reason of it acting or failing to act in connection with this letter agreement except as a result of its gross negligence or 

 
willful misconduct. Nelson Mullins may rely and shall be protected in acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and believed by it
to be genuine and to have been signed or presented by the proper party or parties. 
 The Private Units and Over-Allotment Units will be
identical to the units to be sold by the Company in the IPO. Additionally, the undersigned agrees: 
  

	 	•	 	 to vote the shares of Class A Common Stock included in the Private Units and Over-Allotment Units in favor
of any proposed Business Combination; 

  

	 	•	 	 not to propose, or vote in favor of, an amendment to the Company’s Certificate of Incorporation that would
affect the substance or timing of the Company’s obligation to redeem 100% of the Company’s shares of Class A Common Stock sold in the IPO if the Company does not complete an initial Business Combination within 12 months from the
closing of the IPO (or up to 21 months from the closing of the IPO if the Company extends the period of time to consummate an initial Business Combination as described in more detail in the prospectus included in the Registration Statement), unless
the Company provides the holders of shares of Class A Common Stock sold in the IPO with the opportunity to redeem their shares of Class A Common Stock upon approval of any such amendment at a
per-share price, payable in cash, equal to the aggregate amount of the Trust Fund, including interest earned on Trust Fund and not previously released to the Company to pay the Company’s franchise and
income taxes, divided by the number of then outstanding shares of Class A Common Stock sold in the IPO; 

  

	 	•	 	 not to convert any shares of Class A Common Stock included in the Private Units and Over-Allotment Units
into the right to receive cash from the Trust Fund in connection with a shareholder vote to approve either a Business Combination or an amendment to the provisions of the Company’s Certificate of Incorporation, and not to tender the Private
Units and Over-Allotment Units in connection with a tender offer conducted prior to the closing of a Business Combination; 

  

	 	•	 	 the undersigned will not participate in any liquidation distribution with respect to the Private Units and
Over-Allotment Units (but will participate in liquidation distributions with respect to any units or shares of Class A Common Stock purchased by the undersigned in the IPO or in the open market) if the Company fails to consummate a Business
Combination; 

  

	 	•	 	 that the Private Units, Over-Allotment Units, and underlying securities will not be transferable until after the
consummation of a Business Combination except (i) to the Company’s pre-IPO shareholders, or to the Company’s officers, directors, advisors and employees, (ii) transfers to the
undersigned’s affiliates or its members upon its liquidation, (iii) to relatives and trusts for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic
relations order, (vi) by private sales made in connection with the 

	 	 
consummation of a Business Combination at prices no greater than the price at which the Private Units were originally purchased or (vii) to the Company for cancellation in connection with
the consummation of a Business Combination, in each case (except for clause vii) where the transferee agrees to the terms of the transfer restrictions; and 

  

	 	•	 	 the Private Units and Over-Allotment Units will include any additional terms or restrictions as is customary in
other similarly structured blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate the IPO, each of which will be set forth in the Registration Statement. 

The undersigned acknowledges and agrees that the purchaser of the Private Units and Over-Allotment Units will execute agreements in form and
substance typical for transactions of this nature necessary to effectuate the foregoing agreements and obligations prior to the consummation of the IPO as are reasonably acceptable to the undersigned, including but not limited to an insider letter.

 The undersigned hereby represents and warrants that: 
  

	 	(a)	 it has been advised that the Private Units and Over-Allotment Units have not been registered under the
Securities Act; 

  

	 	(b)	 it will be acquiring the Private Units and Over-Allotment Units for its account for investment purposes only;

  

	 	(c)	 it has no present intention of selling or otherwise disposing of the Private Units and Over-Allotment Units in
violation of the securities laws of the United States; 

  

	 	(d)	 it is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the
Securities Act of 1933, as amended; 

  

	 	(e)	 it has had both the opportunity to ask questions and receive answers from the officers and directors of the
Company and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder; 

  

	 	(f)	 it is familiar with the proposed business, management, financial condition and affairs of the Company;

  

	 	(g)	 it has full power, authority and legal capacity to execute and deliver this letter and any documents
contemplated herein or needed to consummate the transactions contemplated in this letter; and 

  

	 	(h)	 this letter constitutes its legal, valid and binding obligation, and is enforceable against it.

 This letter agreement constitutes the entire agreement between the undersigned and the
Company with respect to the purchase of the Private Units and Over-Allotment Units, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the same. 

 

			
	Very truly yours,
	
	GLOBAL STAR ACQUISITION 1 LLC
		
	By:	 	
                     

	Name:	 	Ted Kim
	Title:	 	Managing Member

  

					
	Accepted and Agreed:
	
	GLOBAL STAR ACQUISITION, INC.
		
	By:	 	
                     

		 	Name:	 	Anthony Ang
		 	Title:	 	Chief Executive Officer

 Exhibit A 

Wire Instructions 
 Bank Name: [redacted] 

Bank Address: [redacted] 
 Account Name: [redacted] 

Account Number: [redacted] 
 Routing/ABA Number (Domestic Wires):
[redacted]

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