Document:

Exhibit 4.3

 

Form of Warrant Certificate

[FACE]

Number

Warrants

 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

POMELO ACQUISITION CORPORATION LIMITED

 

Incorporated Under the Laws of the Cayman Islands

CUSIP G7167D 116

 

Warrant Certificate

 

This Warrant Certificate
certifies that ___________________, or registered assigns, is the registered holder of ____ warrant(s) evidenced hereby
(the “Warrants” and each, a “Warrant”) to purchase Class A ordinary shares, $0.001
par value (the “Class A ordinary shares”), of Pomelo Acquisition Corporation Limited, a Cayman Islands
exempted company (the “Company”).  Each Warrant entitles the holder, upon exercise during the period set
forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable Class A
ordinary shares as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the
Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement)
of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of
the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this
Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole Warrant is initially
exercisable for one fully paid and non-assessable Class A ordinary share. No fractional shares will be issued upon exercise of any
Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in a Class A ordinary share,
the Company will, upon exercise, round down to the nearest whole number of Class A ordinary shares to be issued to the Warrant holder.
The number of Class A ordinary shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain
events as set forth in the Warrant Agreement.

 

The initial Exercise Price
per one Class A ordinary share for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the
occurrence of certain events as set forth in the Warrant Agreement.

 

Subject to the conditions
set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the
end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set forth
in the Warrant Agreement.

 

Reference is hereby made to
the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes
have the same effect as though fully set forth at this place.

 

This Warrant Certificate shall
not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate shall
be governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles
thereof.

 

	 	POMELO ACQUISITION CORPORATION LIMITED
	 	 	 
	 	By:	                              
	 	 	Name:
	 	 	Title:
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
	 	as Warrant Agent
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     

     

    

 

[Form of Warrant Certificate]

[Reverse]

 

The Warrants evidenced by
this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Class A ordinary
shares and are issued or to be issued pursuant to a Warrant Agreement dated as of [            ],
2022 (the “Warrant Agreement”), duly executed and delivered by the Company to Continental Stock Transfer &
Trust Company, a New York limited purpose trust company, as warrant agent (the “Warrant Agent”), which Warrant
Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the
rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words
“holders” or “holder” meaning the Registered Holders or Registered Holder, respectively)
of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms
used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised
at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate
may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed
and executed, together with payment of the Exercise Price as specified in the Warrant Agreement (or through “cashless exercise”
as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent.  In the event that upon any
exercise of Warrants evidenced hereby the number of Warrants exercised shall be less than the total number of Warrants evidenced hereby,
there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not
exercised.

 

Notwithstanding anything else
in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration
statement covering the issuance of the Class A ordinary shares to be issued upon exercise is effective under the Securities Act and
(ii) a prospectus thereunder relating to the Class A ordinary shares is current, except through “cashless exercise”
as provided for in the Warrant Agreement.

 

The Warrant Agreement provides
that upon the occurrence of certain events the number of Class A ordinary shares issuable upon exercise of the Warrants set forth
on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled
to receive a fractional interest in a Class A ordinary share, the Company shall, upon exercise, round down to the nearest whole number
of Class A ordinary shares to be issued to the holder of the Warrant.

 

Warrant Certificates, when
surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement,
but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate
a like number of Warrants.

 

Upon due presentation for
registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates
of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this
Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental
charge imposed in connection therewith.

 

The Company and the Warrant
Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding
any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the
holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the
contrary.  Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company.

 

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Election to Purchase

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby irrevocably
elects to exercise the right, represented by this Warrant Certificate, to receive Class A ordinary shares and herewith tenders payment
for such Class A ordinary shares to the order of Pomelo Acquisition Corporation Limited (the “Company”)
in the amount of $_____ in accordance with the terms hereof.  The undersigned requests that a certificate for such Class A
ordinary shares be registered in the name of _______________, whose address is ____________________ and that such Class A ordinary
shares be delivered to _______________, whose address is ____________________. If said number of Class A ordinary shares is
less than all of the Class A ordinary shares purchasable hereunder, the undersigned requests that a new Warrant Certificate representing
the remaining balance of such Class A ordinary shares be registered in the name of _______________, whose address is ____________________ and
that such Warrant Certificate be delivered to _______________, whose address is ____________________.

 

In the event that the Warrant
has been called for redemption by the Company pursuant to Section 6 of the Warrant Agreement and the Company has
required a cashless exercise pursuant to Section 6 of the Warrant Agreement, the number of Class A ordinary shares that this Warrant
is exercisable for shall be determined in accordance with subsection 3.3.1(b) of the Warrant Agreement.

 

In the event that the Warrant
is to be exercised on a “cashless” basis pursuant to Section 7.4 of the Warrant Agreement, the number
of Class A ordinary shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of
the Warrant Agreement.

 

In the event that the Warrant
may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of Class A ordinary
shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which
allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects
to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to
receive Class A ordinary shares. If said number of shares is less than all of the Class A ordinary shares purchasable hereunder
(after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance
of such Class A ordinary shares be registered in the name of _______________, whose address is ____________________ and that
such Warrant Certificate be delivered to _______________, whose address is ____________________.

 

[Signature Page Follows]

 

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	Date:         , 20	 	 
	 	 	(Signature)
	 	 	 
	 	 	(Address)
	 	 	 
	 	 	 
	 	 	(Tax Identification Number)
	 	 	 
	Signature Guaranteed:	 	 
	 	 	 
	 	 	 
	 	 	 

 

THE SIGNATURE(S) SHOULD
BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP
IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

 

4Exhibit 10.2

 

[    ], 2022

 

Pomelo Acquisition Corporation Limited

Room 1001, No. 4, Lane 1, West Weifang Road

Pudong New Area, Shanghai, China

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and among Pomelo Acquisition Corporation Limited, a Cayman Islands exempted company (the “Company”),
and Prime Number Capital LLC, as representative (the “Representative”) of the several underwriters (each, an
“Underwriter” and collectively, the “Underwriters”), relating to an underwritten initial
public offering (the “Public Offering”) of up to 8,625,000 of the Company’s units (including up to 1,125,000
units that may be purchased to cover over-allotments, if any) (the “Units”), each comprised of one Class A ordinary
share of the Company, par value $0.001 per share (the “Ordinary Shares”), and one-half of one warrant. Each
whole warrant (each, a “Warrant”) entitles the holder thereof to purchase one Ordinary Share. The Units shall
be sold in the Public Offering pursuant to a registration statement on Form S-1 (File 333-260643) and prospectus (the “Prospectus”)
filed by the Company with the Securities and Exchange Commission (the “Commission”), and the Company shall apply
to have the Units listed on the Nasdaq Global Market. Certain capitalized terms used herein are defined in Section 11 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Fruitbasket Holding Ltd. (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team, hereby agree
with the Company as follows:

 

1. Each Insider agrees that
(A) if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business Combination,
it, he or she shall (i) vote any Shares owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem
any Shares, Placement Shares, or Ordinary Shares underlying the Working Capital Units owned by it, him or her in connection with such
shareholder approval; (B) if the Company engages in a tender offer in connection with any proposed Business Combination, it, he or she
shall not sell any Shares to the Company in connection therewith; and (C) if the Company seeks shareholder approval of any proposed amendment
to the Charter prior to the consummation of a Business Combination, it, he or she shall not redeem any Shares, Placement Shares, or Ordinary
Shares underlying the Working Capital Units owned by it, him or her in connection with such shareholder approval.

 

2. Each Insider hereby agrees
that, in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter, each Insider
shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as
promptly as reasonably possible but not more than ten (10) business days thereafter, subject to lawfully available funds therefor, redeem
100% of the Ordinary Shares sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
Trust Account and not previously released to the Company to pay any taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Shareholders’
rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as
promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the
Company’s board of directors, dissolve and liquidate, subject in the case of clauses (ii) and (iii) above to the Company’s
obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. Each Insider agrees
to not propose any amendment to the Charter (i) that would affect the substance or timing of the Company’s obligation to provide
holders of the Offering Shares the right to have their Offering Shares redeemed in connection with the Business Combination or redeem
100% of the Offering Shares if the Company does not complete a Business Combination within the time period described in the Prospectus
or (ii) with respect to any other provision relating to shareholders’ rights or pre-Business Combination activity, unless the Company
provides its Public Shareholders with the opportunity to redeem their Ordinary Shares upon approval of any such amendment at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the
Trust Account and not previously released to the Company to pay any taxes, divided by the number of then outstanding Offering Shares.

 

     

     

    

 

Each Insider acknowledges
that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset
of the Company as a result of any liquidation of the Company with respect to the Founder Shares, Placement Shares, and Ordinary Shares
underlying the Working Capital Units held by it, him or her. Each Insider hereby further waives any claim such Insider may have in the
future as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever except in each case with respect to the Insider’s right to a pro rata interest in the proceeds held in
the Trust Fund for any Offering Shares such Insider may hold.

 

3. During the period
commencing on the effective date of the Underwriting Agreement and ending one hundred eighty (180) days after such date, each Insider
shall not, without the prior written consent of the Underwriter, (i) sell, offer to sell, contract or agree to sell, hypothecate,
pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase
a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units,
Ordinary Shares, Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned
by it, him or her, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of any Units, Ordinary Shares, Founder Shares, Warrants or any securities convertible into, or exercisable,
or exchangeable for, Ordinary Shares owned by it, him or her, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each
of the Insiders acknowledges and agrees that, prior to the effective date of any release or waiver of the restrictions set forth in this
Section 3, the Company shall announce the impending release or waiver by press release through a major news service at least two
(2) business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective two (2) business
days after the publication date of such press release. The provisions of this Section will not apply if the release or waiver is effected
solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same terms described in
this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer.

 

4. In the event of the
liquidation of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members
or managers of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense
whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending
against any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of
any claim by (i) any third party for services rendered or products sold to the Company or (ii) a prospective target business
with which the Company has entered into a letter of intent, confidentiality or other similar agreement or a Business Combination agreement
(a “Target”); provided, however, that such indemnification of the Company by the Sponsor
shall apply only to the extent necessary to ensure that such claims by a third party for services rendered or products sold to the Company
or a Target do not reduce the amount of funds in the Trust Account to below (i) $10.05 per share of the Offering Shares or (ii) such
lesser amount per share of the Offering Shares held in the Trust Account due to reductions in the value of the trust assets as of the
date of the liquidation of the Trust Account, in each case, net of the amount of interest earned on the property in the Trust Account
which may be withdrawn to pay taxes, except as to any claims by a third party (including a Target) who executed a waiver of any and all
rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the Underwriters against
certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”).
In the event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible
to the extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel
of its choice reasonably satisfactory to the Company.

 

5. To the extent that
the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,125,000 Units within forty five (45) days
from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to surrender, at no cost, a number of
Founder Shares in the aggregate equal to 281,250 multiplied by a fraction,
(i) the numerator of which is 1,125,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment
option, and (ii) the denominator of which is 1,125,000.

 

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6. Each Insider hereby
agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such
Insider of its, his or her obligations under Sections 1, 2, 3, 4, 5, 7(a), 7(b), and
9, as applicable, of this Letter Agreement; (ii) monetary damages may not be an adequate remedy for such breach; and (iii) the non-breaching party
shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of
such breach.

 

7. (a) Subject to
Section 7(c), each Insider agrees that it, he or she shall not Transfer any Founder Shares (or Ordinary Shares issuable upon conversion
thereof), (i) with respect to 50% of the Founder Shares for a period ending on the six-month anniversary of the date of the consummation
of the Company’s initial Business Combination and (ii) with respect to the remaining 50% of such shares, the earlier of six months
after the date of the consummation of the Company’s initial Business Combination and the date on which the last reported sale price
of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share subdivisions, share capitalizations, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period after the Company’s initial Business Combination;
or earlier, in either case, if, subsequent to the initial Business Combination, the Company completes a liquidation, merger, share exchange,
reorganization, recapitalization or other similar transaction that results in all of its Public Shareholders having the right to exchange
their Ordinary Shares for cash, securities or other property (the “Founder Shares Lock-up Period”).

 

(b) Subject to Section
7(c), each Insider agrees that it, he or she shall not Transfer any Placement Units, Placement Shares, Placement Warrants (or Ordinary
Shares issued or issuable upon the conversion or exercise of Placement Warrants), Units which may be issued in payment of working capital
loans made to the Company (the “Working Capital Units”) (or Ordinary Shares underlying Working Capital Units)
or Warrants underlying the Working Capital Units (the “Working Capital Warrants”) (or Ordinary Shares issued
or issuable upon the conversion or exercise of Working Capital Warrants) until thirty (30) days after the completion of a Business Combination
(the “Placement Unit Lock-up Period”, together with the Founder Shares Lock-up Period, the
“Lock-up Periods”).

 

(c) Notwithstanding
the provisions set forth in Sections 7(a) and (b), Transfers of the Founder Shares, Placement Units, Working Capital
Units (or Ordinary Shares underlying Working Capital Units), Placement Shares, Placement Warrants, Working Capital Warrants and Ordinary
Shares issued or issuable upon the exercise or conversion of Placement Warrants, Working Capital Warrants or the Founder Shares and that
are held by any Insider or any of their permitted transferees (that have complied with this Section 7(c)), are permitted (1) (a)
to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any
affiliate of the Sponsor or to any shareholder of the Sponsor or any of their affiliates, (b) in the case of an individual, by gift to
a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate
family, an affiliate of such individual or to a charitable organization, (c) in the case of an individual, by virtue of the laws of descent
and distribution upon death of such person, (d) in the case of an individual, pursuant to a qualified domestic relations order, (e) by
private sales or transfers made in connection with the consummation of the Company’s initial Business Combination at prices no greater
than the price at which the securities were originally purchased (f) by virtue of the laws of the British Virgin Islands or the organizational
documents of the Sponsor upon liquidation or dissolution of the Sponsor (g) in the event of the Company’s liquidation prior to consummation
of the Company’s initial Business Combination, (h) to the Company for no value for cancellation in connection with the consummation
of an initial Business Combination, or (i) in the event that, subsequent to the consummation of a Business Combination, the Company completes
a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the
right to exchange their ordinary shares for cash, securities or other property; provided, however, that in the case of clauses (a) through
(f), these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and (2)
in connection with an initial Business Combination with the consent of the Company to any third party that agrees in writing to be bound
by the provisions of this Letter Agreement applicable to Insiders (other than paragraph 1).

 

(d) Subject to the limitations
described herein, each Insider shall retain all of such Insider’s rights as a security holder during, as applicable, the Lock-up
Periods including, without limitation, the right to vote, as the case may be, the Founder Shares and/or Placement Shares.

 

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8. Each Insider represents
and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities exchange or association
or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s biographical information
furnished to the Company (including any such information included in the Prospectus) is true and accurate in all respects and does not
omit any material information with respect to the Insider’s background and contains all of the information required to be disclosed
pursuant to Item 401 of Regulation S-K promulgated under the Securities Act. Each Insider’s questionnaire furnished to the Company
is true and accurate in all respects. Each Insider represents and warrants that: it, he or she is not subject to or a respondent in any
legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating
to the offering of securities in any jurisdiction; it or he has never been convicted of, or pleaded guilty to, any crime (i) involving
fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings
in any securities, and it or he is not currently a defendant in any such criminal proceeding.

 

9. Except as disclosed
in the Prospectus, neither any Insider, nor any affiliate of any Insider, nor any director or officer of the Company, shall receive from
the Company any finder’s fee, reimbursement or cash payments prior to, or in connection with any services rendered in order to effectuate
the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it is), other than the
amounts described in the Prospectus under the heading “Summary – The Offering – Limited Payments to Insiders.”

 

10. Each Insider has
full right and power, without violating any agreement to which it, he or she is bound (including, without limitation, any non-competition or non-solicitation agreement
with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve as an officer and/or director
on the board of directors of the Company and hereby consent to being named in the Prospectus as an officer and/or director of the Company.

 

11. As used herein, (i) “Business
Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses; (ii) “Shares” shall mean, collectively,
the Ordinary Shares and the Founder Shares; (iii) “Founder Shares” shall mean (a) the 2,156,250 Class B
ordinary shares of the Company, par value $0.001 per share, initially issued to the Sponsor (up to 281,250 of which are subject to complete
or partial surrender by the Sponsor if the over-allotment option is not exercised by the Underwriters) for an aggregate purchase price
of $25,000, or approximately $0.012 per share, prior to the consummation of the Public Offering; (iv) “Initial Holders”
shall mean any Insider that holds Founder Shares; (v) “Insiders” shall mean the Sponsor and its members,
any holders of Founder Shares, any person who receives Placement Units, Working Capital Units, Founder Shares or their respective underlying
securities as a permitted transferee and each officer and director of the Company; (vi) “Placement Shares” shall
mean the Ordinary Shares sold as part of the Placement Units; (vii) “Placement Warrants” shall mean the Warrants
to purchase up to an aggregate of 174,681 Ordinary Shares that are included in the Placement Units; (viii) “Placement Units”
shall mean the aggregate of up to 349,362 Units of the Company (each Placement Unit consists of one-half of a Placement Warrant and one
Placement Share) sold in the Private Placement to the Sponsor for an aggregate purchase price of up to $3,493,625; (ix) “Private
Placement” shall mean that certain private placement transaction occurring simultaneously with the closing of the Public
Offering pursuant to which the Company has agreed to sell an aggregate of up to 349,362 Placement Units to the Sponsor; (x) “Public
Shareholders” shall mean the holders of securities issued in the Public Offering; (xi) “Trust Account”
shall mean the trust fund into which a portion of the net proceeds of the Public Offering and the sale of the Placement Units (and, if
applicable, any extension loan, as described in the prospectus related to the IPO) shall be deposited; (xii) “Transfer”
shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or
otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or
liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry
into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any
security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement
of any intention to effect any transaction specified in clause (a) or (b); and (xiii) “Charter” shall
mean the Company’s amended and restated memorandum and articles of association, as the same may be amended from time to time.

 

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12. This Letter Agreement
constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to
the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived
(other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

  

13. No party hereto may
assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the
other party. Any purported assignment in violation of this Section shall be void and ineffectual and shall not operate to transfer or
assign any interest or title to the purported assignee. This Letter Agreement shall be binding on each Insider and their respective successors,
heirs and assigns and permitted transferees.

 

14. Nothing in this Letter
Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or
claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants,
conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the
parties hereto and their successors, heirs, personal representatives and assigns and permitted transferees.

  

15. This Letter Agreement
may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and the same instrument.

 

16. This Letter Agreement
shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability
of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision,
the parties hereto intend that there shall be added as a part of this Letter Agreement a provision as similar in terms to such invalid
or unenforceable provision as may be possible and be valid and enforceable.

 

17. This Letter 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 (i) all
agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought
and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction
and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent
an inconvenient forum.

 

18. Any notice, consent
or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing and shall be sent
by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or facsimile or other
electronic transmission. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute a
valid and sufficient delivery thereof.

 

19. This Letter Agreement
shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company;
provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed
by June 30, 2022; provided further that Section 4 of this Letter Agreement shall survive such liquidation.

 

[Signature Page Follows]

 

     

     

    

 

	 	Sincerely,
	 	 
	 	POMELO ACQUISITION CORPORATION LIMITED
	 	 
	 	By:	 
	 	Name: 	Kiyohiro Kawayanagi
	 	Title:	Chief Executive Officer and Chairman
	 	 
	 	FRUITBASKET HOLDING LTD.
	 	 
	 	By:	 
	 	Name:	Hong Yan
	 	Title:	Chief Financial Officer and Director
	 	 
	 	 
	 	Name:	Hong Yan
	 	 
	 	 
	 	Name:	Kiyohiro Kawayanagi
	 	 
	 	 
	 	Name:	Borys Priadko
	 	 
	 	 
	 	Name:	Yingchen Liu
	 	 
	 	 
	 	Name:	Liang Zheng

 

[Signature Page to Letter Agreement]

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