Document:

Exhibit
10.1

 

AMENDMENT
TO INVESTMENT MANAGEMENT TRUST AGREEMENT

 

THIS
AMENDMENT TO INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Amendment Agreement”), dated as of December 15, 2022,
is made by and between Simon Property Group Acquisition Holdings, Inc., a Delaware corporation (the “Company”), and
Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”), and amends that certain Investment
Management Trust Agreement, effective as of February 18, 2021 (the “Trust Agreement”), by and between the Company
and the Trustee. Capitalized terms used but not defined in this Amendment Agreement have the meanings assigned to such terms in the Trust
Agreement.

 

WHEREAS,
Section 1(i) of the Trust Agreement provides that the Trustee is to liquidate the Trust Account and distribute the Property in the Trust
Account, including interest not previously released to the Company to pay its franchise and income taxes (less up to $100,000 of interest
that may be released to the Company to pay dissolution expenses) (x) upon receipt of, and only in accordance with, the terms of a Termination
Letter in a form substantially similar to that attached to the Trust Agreement as Exhibit A or Exhibit B, as applicable, or (y) upon
the date which is the later of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company’s
stockholders in accordance with the Company’s amended and restated certificate of incorporation;

 

WHEREAS,
Section 6 of the Trust Agreement provides that the Trust Agreement may only be amended by a writing signed by each of the Company and
the Trustee with the Consent of the Stockholders; and

 

WHEREAS,
at a meeting of the stockholders of the Company held on or about the date hereof (the “Meeting”), at least
sixty five percent (65%) of the voting power of all then outstanding shares of the Common Stock and the Company’s Class B common
stock have voted to approve this Amendment Agreement;

 

WHEREAS,
at the Meeting, the stockholders of the Company also voted to approve the second amendment of the Company’s certificate of incorporation
(the certificate of incorporation, as so amended, the “Certificate”); and

 

WHEREAS,
each of the Company and the Trustee desires to amend the Trust Agreement as provided herein.

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.
Amendment to the Trust Agreement. 

Effective
as of the execution hereof, Section 1(i) of the Trust Agreement is hereby amended to replace the words “24 months after the closing
of the Offering” with “December 16, 2022”

 

2.
No Further Amendment. The parties hereto agree that except as provided in this Amendment Agreement, the Trust Agreement shall continue
unmodified, in full force and effect and constitute legal and binding obligations of all parties thereto in accordance with its terms.
This Amendment Agreement forms an integral and inseparable part of the Trust Agreement.

 

3.
References.

 

(a)
All references to the “Trust Agreement” (including “hereof,” “herein,” “hereunder,”
 “hereby” and “this Agreement”) in the Trust Agreement shall refer to the Trust Agreement as amended by this Amendment
Agreement. Notwithstanding the foregoing, references to the date of the Trust Agreement (as amended hereby) and references in the Trust
Agreement to “the date hereof,” “the date of this Trust Agreement” and terms of similar import shall in all instances
continue to refer to February 18, 2021.

 

(b)
All references to the “amended and restated certificate of incorporation” in the Trust Agreement (as amended by this Amendment
Agreement) and terms of similar import shall mean the Certificate.

 

4.
Governing Law; Jurisdiction. This Amendment Agreement shall be governed by and construed and enforced in accordance with the laws
of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City
of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY
WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

     

     

    

 

5.
Counterparts. This Amendment Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute
an original, and together shall constitute but one instrument.

 

6.
Other Miscellaneous Terms. The provisions of Sections 6(f), 6(h) and 6(j) of the Trust Agreement shall apply mutatis mutandis
to this Amendment Agreement, as if set forth in full herein.

 

[Signature
Pages Follow]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly executed by their duly authorized representatives,
all as of the day and year first above written.

 

	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	By:	/s/ Francis Wolf
	 	Name:
    	Francis
    Wolf
	 	Title:
    	Vice
    President

 

[Signature Page to Amendment
to Investment Management Trust Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly executed by their duly authorized representatives,
all as of the day and year first above written.

 

	 	SIMON
    PROPERTY GROUP ACQUISITION HOLDINGS, INC.
	 	 	 
	 	By:
    	/s/ Steven E. Fivel
	 	Name:	 Steven E. Fivel
	 	Title:  	Secretary

 

[Signature Page to Amendment
to Investment Management Trust Agreement] 

 

     

     

    

 

Effective as of the execution hereof, Exhibit B to the Trust Agreement is hereby amended and restated in its entirety as follows:

 

EXHIBIT B

 

Simon Property Group Acquisition Holdings, Inc.

225 West Washington Street

Indianapolis, IN 46204

 

December 15, 2022

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf & Celeste Gonzalez

 

		Re:	Trust Account - Termination Letter

 

Dear Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section 1(i) of the
Investment Management Trust Agreement between Simon Property Group Acquisition Holdings, Inc. (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of February 18, 2021, 2021 (the
 “Trust Agreement”), this is to advise you that the Company has been unable to effect a Business Combination with a
Target Business within the time frame specified in the Company’s amended and restated Certificate of Incorporation, as described
in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement.

 

In accordance with the terms of the Trust Agreement,
we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into a segregated account
held by you on behalf of the Beneficiaries to await distribution to the Public Stockholders. The Company has selected December 16,
2022 as the effective date for the purpose of determining when the Public Stockholders will be entitled to receive their share of the
liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said
funds directly to the Public Stockholders in accordance with the terms of the Trust Agreement and the amended and restated Certificate
of Incorporation of the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses
related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise
provided in Section 1(i) of the Trust Agreement.

 

     

     

    

 

	 	Very truly yours,
	 	 	 
	 	SIMON PROPERTY GROUP ACQUISITION HOLDINGS, INC.
	 	 	 
	 	By:	 
		 	Name:

Title:

 

		cc:	Goldman Sachs & Co. LLCExhibit 10.2
AMENDMENT NO. 1 TO
AMENDED AND RESTATED EXCLUSIVE SOFTWARE LICENSE AGREEMENT
This Amendment No. 1 to the Amended and Restated Exclusive Software License Agreement (the “First Amendment”) is entered into as of December 13, 2022 by and between SDE Inc., a California corporation (“Licensor”), and SNAIL GAMES USA, INC., a California corporation (“Licensee”). Licensor and together with Licensee, the “Parties,” and each, a “Party”). Capitalized terms used and not defined in this First Amendment have the respective meanings assigned to them in the Existing Agreement (as defined below).
WHEREAS, the Parties entered into that certain Amended and Restated Exclusive Software License Agreement dated January 1, 2022 (the “Existing Agreement”);
WHEREAS, the Parties desire to amend certain terms of the Existing Agreement pertaining to the Royalty Payments with respect to the Game; and
WHEREAS, for the purposes of reflecting the items described in the foregoing recital, the Parties desire to amend the Existing Agreement on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1.Amendments to the Existing Agreement. As of the date hereof, the Existing Agreement is hereby amended as follows:
(a)Monthly License Fee.  Section 4.01 of the Existing Agreement is  hereby amended by deleting it in its entirety and replacing it with the following:
“Section 4.01 Monthly License Fee. During the Term, Licensee shall pay Licensor a monthly licensing fee of one million five hundred thousand U.S. dollars ($1,500,000), for a total of eighteen million U.S. dollars ($18,000,000) per year; provided, however, Licensee’s obligation to pay the foregoing monthly licensing fee shall be automatically terminated upon the public release of the sequel of the Game being developed by Licensor and currently titled as “ARK 2” (the “New Game”); provided, further however, Licensee shall remain obligated to pay the unpaid licensing fee attributable to the period ending on the date of the public release of the New Game.”
(b)Royalty Payments.  Section 4.02 of the Existing Agreement is  hereby amended by deleting it in its entirety and replacing it with the following:
“Section 4.02 Royalty Payments.  Licensee shall pay Licensor twenty-five percent (25%) of the Total Revenue of the Game (hereinafter referred to as the “Royalty Payment”). For the avoidance of doubt, Licensee shall retain the remaining seventy-five percent (75%) of the Total Revenue. Upon the public release of the New Game and concurrently with the
​

termination of Licensee’s obligation to pay the monthly licensing fee under Section 4.01, the amount of the Royalty Payment shall increase from twenty-five percent (25%) of the Total Revenue of the Game to forty-five percent (45%) of the Total Revenue of the Game, and Licensee shall retain the remaining fifty-five percent (55%) of the Total Revenue. For the avoidance of doubt, Licensee shall not owe Licensor any royalty payments based on Retail Revenue.”
2.Limitation of Amendment. Except as specifically set forth herein, this First Amendment shall not be deemed to waive, amend or modify any term or condition of the Existing Agreement, which is hereby ratified and reaffirmed and which shall remain in full force and effect according to its terms.
3.Counterparts; Electronic Signature. This First Amendment may be executed and delivered in two or more counterparts, each of which shall be deemed an original, and all of which shall be deemed to constitute one and the same agreement.  An executed counterpart of this First Amendment delivered by fax or other means of electronic communications, including DocuSign, and shall be deemed to be an original and shall be as effective for all purposes as delivery of a manually executed counterpart.
[Signature page follows]
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IN WITNESS WHEREOF, the Parties have executed this First Amendment as of the date first written above.
	​
	SNAIL GAMES USA, INC.

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	​

	​
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	​
	By
	/s/ Jim Tsai

	​
	Name: Jim Tsai

	​
	Title: Chief Executive Officer

	​
	​

	​
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	​
	SDE INC.

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	​

	​
	​

	​
	By
	/s/ Zhou Ying

	​
	Name: Zhou Ying

	​
	Title: Chief Executive Officer

​

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