Document:

Exhibit 4.3

 

CONFIDENTIAL

 

AMENDMENT TO

 

PERFECT CORP.

 

(INCORPORATED IN THE CAYMAN ISLANDS WITH LIMITED
LIABILITY)

 

(THE “COMPANY”)

 

2021 STOCK COMPENSATION PLAN

 

This amendment (this “Amendment”)
to the Company’s 2021 Stock Compensation Plan (the “2021 Stock Compensation Plan”), dated December 13,
2021, is adopted by the board of directors of the Company (the “Board”) on October 25, 2022. All capitalized terms
used but not defined herein shall have the meanings given such terms in the 2021 Stock Compensation Plan.

 

WHEREAS,
the Company, Provident Acquisition Corp., Beauty Corp. and Fashion Corp. entered into an Agreement and Plan of Merger, dated March 3,
2022, and the First Amendment to Agreement and Plan of Merger, dated September 16, 2022 (collectively, the “Business Combination
Agreement”), which contemplate the mergers and transactions that constitute a Corporate Transaction under the 2021 Stock Compensation
Plan; and

 

WHEREAS,
pursuant to Section 4, Section 11.1 and Section 11.2 of the 2021 Stock Compensation Plan, the Board desires to make certain
adjustments to the 2021 Stock Compensation Plan as set forth below.

 

NOW,
THEREFORE, the 2021 Stock Compensation Plan is hereby amended as follows:

 

Section 1.     A
new definition as follows shall be added to Section 1 of the 2021 Stock Compensation Plan:

 

(20A)     “ordinary
shares” means, collectively, the Class A ordinary shares of a par value of US$0.1 of the Company and the Class B ordinary
shares of a par value of US$0.1 of the Company.

 

Section 2.     Section 2(1) of
the 2021 Stock Compensation Plan is hereby amended as follows:

 

(1)            Subject
to the provisions of Section 11 below, the maximum aggregate number of the Option Shares that may be issued by the Company upon exercise
of all Options to be granted under this Plan shall be 5,311,310 Option Shares, and up to 5,311,310 ordinary shares may be issued under
the Plan pursuant to Incentive Stock Option to U.S. Taxpayer Participants. In the case that the Optionee is Alice H. Chang, the Option
Shares to be issued to the Optionee shall be Class B ordinary shares of a par value of US$0.1 of the Company, otherwise the Option
Shares to be issued to the Optionee shall be Class A ordinary shares of a par value of US$0.1 of the Company.

 

Section 3.     Exhibit I, II
and III of the 2021 Stock Compensation Plan are hereby substituted by Exhibit I, II and III attached hereto, respectively.

 

     

     

    

 

Section 4.     This
Amendment shall be governed by and construed in accordance with the laws of Cayman Islands (without regard to their choice-of-law provisions).
Any dispute, controversy, difference or claim arising out of or relating to this Amendment, including the existence, validity, interpretation,
performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it, shall
be referred to and finally resolved by arbitrations administered by the Chinese Arbitration Association, Taipei (“CAA”)
under the Taiwanese Arbitration Act and the CAA Arbitration Rules. This Amendment is effective immediately. Except as amended hereby,
the 2021 Stock Compensation Plan shall remain in full force and effect. In the event of any inconsistency or conflict between this Amendment
and the 2021 Stock Compensation Plan, the terms and provisions contained in this Amendment shall supersede, govern and control.

 

[The remainder of this page is intentionally
left blank]

 

    -2- 

     

    

 

EXHIBIT I

 

2021
STOCK COMPENSATION PLAN

 

GRANT
NOTICE

 

Dear Mr./Ms. __________,

 

You
have been granted an Option to purchase _____________[Class A/Class B]1 ordinary shares of Perfect Corp. (the “Company”)
under the 2021 Stock Compensation Plan adopted by the written resolutions of the Board of Directors of the Company dated December 13,
2021, as amended by the written resolutions of the Board of Directors of the Company dated October 25, 2022 (the “Plan”),
as follows:

 

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

 

The terms and conditions of such Option shall be as set forth in the
Plan.

 

	PERFECT
    CORP.	 
	 	 
	 	 
	 	 
	Name:	 
	 	 
	Title:	 

 

 

1 NTD: to be selected by the Company pursuant to the Plan
before sending this Exhibit I to the participant.

 

    -3- 

     

    

 

EXHIBIT II

 

Notice
of Exercise

 

This Notice of Exercise is given by the undersigned
pursuant to the 2021 STOCK COMPENSATION PLAN adopted by the written resolutions of the Board of Directors of Perfect Corp. (the “Company”)
dated December 13, 2021, as amended by the written resolutions of the Board of Directors of the Company dated October 25, 2022 (the
 “Plan”), and for the undersigned to exercise the Options to purchase                   shares
of the Company’s [Class A/Class B]2 ordinary shares (the “Purchased Shares”) at the Option
exercise price of US$                per share (the
 “Exercise Price”).

 

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

 

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

 

	Ø	Print
                                            name in exact manner it is to appear in the Register of Members of the Company:

 

	 	 	 

 

	Ø	Address
                                            to be recorded in the Register of Members of the Company:

 

	 	 	 

 

	Ø	Passport
                                            No.:

 

	 	 	 

 

	Signature: _______________________________	 
	 	 
	Dated
    ____________,_____________________	 

 

 

2 NTD: to be selected by the Company pursuant to the Plan
before sending this Exhibit II to the participant.

 

    -4- 

     

    

 

EXHIBIT III

 

Incentive
Stock Option Agreement

 

This Incentive Stock Option Agreement (this “Agreement”)
is made and entered into as of [DATE] by and between Perfect Corp., an exempted company incorporated in the Cayman Islands with limited
liability (the “Company”) and [EMPLOYEE NAME] (the “Participant”).

 

Capitalized terms used but not defined herein
will have the meaning ascribed to them in the 2021 Stock Compensation Plan adopted by the written resolutions of the Board of Directors
of the Company dated December 13, 2021, as amended by the written resolutions of the Board of Directors of the Company dated October
25, 2022 (the “Plan”).

 

	Grant
    Date:	 	 
	 
	Exercise
    Price per Share:	 	 
	 
	Number
    of Option Shares:	 	[Class A/Class B]3
    ordinary shares
	 
	Expiration
    Date:	 	 

 

1.            Grant
of Option.

 

1.1.          Grant;
Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase the total number
of the [Class A/Class B]4
ordinary shares of the Company equal to the number of Option Shares set forth above, at the Exercise Price set forth above. The Option
is being granted pursuant to the terms of the Plan. The administration of the Plan is subject to the Board of the Company, the CEO, or
the senior officer(s) designated by the Board from time to time for administration of the Plan. The Option is intended to be an Incentive
Stock Option within the meaning of Section 422 of the Code, although the Company makes no representation or guarantee that the Option
will qualify as an Incentive Stock Option. To the extent that the aggregate Fair Market Value (determined on the Grant Date) of the ordinary
shares with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under
all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to the
order in which they were granted) shall be treated as non-qualified stock options.

 

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

 

2.            Exercise
Period; Vesting.

 

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

 

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

 

 

3 NTD: to be selected by the Company pursuant to the Plan
before sending this Exhibit III to the participant.

4 NTD: to be selected by the Company pursuant to the Plan
before sending this Exhibit III to the participants.

 

    -5- 

     

    

 

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

 

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

 

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

 

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

 

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

 

3.            Termination
of Employment.

 

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

 

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

 

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

 

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

 

    -6- 

     

    

 

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

 

5.            Manner
of Exercise.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -7- 

     

    

 

9.            Tax
Matters.

 

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

 

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

 

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

 

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

 

    -8- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -9- 

     

    

 

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

 

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

 

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

 

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

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

    -10- 

     

    

 

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

 

Perfect Corp.

 

	By	 	 
	 	 
	Name:	 
	 	 
	Title:	 

 

[EMPLOYEE NAME]

 

	By	 	 
	 	 
	Name:	 

 

    -11-Exhibit 10.1

 

EXECUTION VERSION

 

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

 

THIS
ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT (this “Agreement”), dated as of October 28, 2022, is entered
into by and among Perfect Corp., a Cayman Islands exempted company (“Perfect”), Provident Acquisition Corp., a Cayman
Islands exempted company (“PAQC”), and Continental Stock Transfer & Trust Company, a New York corporation,
as warrant agent (the “Warrant Agent”) and amends the Warrant Agreement (the “Existing Warrant Agreement”),
dated as of January 7, 2021, by and between PAQC and the Warrant Agent, a copy of which is attached hereto as Annex A. Capitalized
terms used but not defined herein shall have the meaning ascribed to such terms in the Existing Warrant Agreement.

 

WHEREAS,
as of the date hereof and pursuant to the Existing Warrant Agreement, PAQC issued (a) 11,500,000 Public Warrants, (b) 6,600,000
Private Placement Warrants to Sponsor and (c) 2,750,000 Forward Purchase Warrants pursuant to Forward Purchase Agreements;

 

WHEREAS, all of the Warrants are governed by the
Existing Warrant Agreements;

 

WHEREAS, Perfect, Beauty Corp., a Cayman Islands
exempted company with limited liability and a wholly-owned direct subsidiary of Perfect (“Merger Sub 1”), Fashion Corp.,
a Cayman Islands exempted company with limited liability and a wholly-owned direct subsidiary of Perfect (“Merger Sub 2”)
and PAQC entered into the Agreement and Plan of Merger on March 3, 2022, and the First Amendment to Agreement and Plan of Merger
on September 16, 2022 (collectively, the “Business Combination Agreement”), pursuant to which, among other things,
(a) Merger Sub 1 will merge with and into PAQC (the “First Merger”), with PAQC surviving the First Merger as a
wholly-owned subsidiary of Perfect, and (b) immediately after the consummation of the First Merger, PAQC (as the surviving company
of the First Merger) will merge with and into Merger Sub 2 (the “Second Merger” and together with the First Merger,
the “Mergers”), with Merger Sub 2 surviving the Second Merger as a wholly-owned subsidiary of Perfect;

 

WHEREAS, the consummation
of the transactions contemplated by the Business Combination Agreement, including the Mergers, will constitute a Business Combination
as defined in the Existing Warrant Agreement;

 

WHEREAS, upon consummation of the First Merger,
as provided in Section 4.4 of the Existing Warrant Agreement and Section 3.06(a) of the Business Combination Agreement,
the Warrants will no longer be exercisable for Class A ordinary shares of PAQC, par value $0.0001 per share, but instead will be
exercisable (subject to the terms and conditions of the Existing Warrant Agreement, as amended hereby) for Class A ordinary shares
of Perfect, par value $0.10 per share (the “Perfect Class A ordinary shares”);

 

WHEREAS, in connection with the transactions contemplated
by the Business Combination Agreement, PAQC desires to assign to Perfect, and Perfect desires to assume, all of PAQC’s rights, interests
and obligations under the Existing Warrant Agreement; and

 

WHEREAS, Section 9.8 of the Existing Warrant
Agreement provides that all parties to the Existing Warrant Agreement may amend the Existing Warrant Agreement without the consent of
any Registered Holder for the purpose of adding or changing any provisions with respect to matters or questions arising under the Existing
Warrant Agreement as parties thereof may deem necessary or desirable and that the parties thereof deem shall not adversely affect the
interest of the Registered Holders.

 

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

 

1.            Assignment
and Assumption; Consent.

 

    1 

     

    

 

1.1.          Assignment
and Assumption. As of and with effect on and from the effective time of the First Merger (the “First Merger Effective Time”),
PAQC hereby assigns to Perfect all of PAQC’s right, title and interest in and to the Existing Warrant Agreement; and Perfect hereby
assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of PAQC’s liabilities and obligations
under the Existing Warrant Agreement arising on, from and after the First Merger Effective Time.

 

1.2.          Consent.
The Warrant Agent hereby consents to (a) the assignment of the Existing Warrant Agreement by PAQC to Perfect and the assumption of
the Existing Warrant Agreement by Perfect from PAQC, in each case pursuant to Section ‎1.1, and (b) the continuation
of the Existing Warrant Agreement (as amended by this Agreement), in full force and effect from and after the First Merger Effective Time.

 

2.            Amendment
of Existing Warrant Agreement. Effective as of the First Merger Effective Time, Perfect and the Warrant Agent hereby amend the Existing
Warrant Agreement as provided in this Section ‎2, and acknowledge and agree that the amendments to the Existing
Warrant Agreement set forth in this Section ‎2 (a) are necessary and desirable and do not adversely affect
the rights of the Registered Holders under the Existing Warrant Agreement and (b) are to provide for the Alternative Issuance pursuant
to Section 4.4 of the Existing Warrant Agreement (in connection with the First Merger and the other transactions contemplated by
the Business Combination Agreement).

 

2.1.            References
Change.

 

2.1.1.            “Agreement”
or “Warrant Agreement”. Each reference to “this Agreement,” “Warrant Agreement,” “hereof,”
 “herein,” “hereunder,” “hereby” and each other similar reference contained in the Existing Warrant
Agreement (including all exhibits thereto) shall, from and after the effectiveness of this Agreement, refer to the Existing Warrant Agreement
as amended by this Agreement. Notwithstanding the foregoing, references to the date of the Existing Warrant Agreement and references in
the Existing Warrant Agreement to “the date hereof,” “the date of this Agreement” and other similar references
shall in all instances continue to refer to January 7, 2021.

 

2.1.2.            “Business
Combination”. All references to “Business Combination” in the Existing Warrant Agreement (including all exhibits
thereto) shall be references to the transactions contemplated by the Business Combination Agreement, and references to “the completion
of the Business Combination” and all variations thereof in the Existing Warrant Agreement (including all exhibits thereto) shall
be references to the Closing (as defined in the Business Combination Agreement).

 

2.1.3.            “Class A
ordinary shares”. References to “Class A ordinary shares” in the Existing Warrant Agreement (including all
exhibits thereto) shall be references to (a) prior to the First Merger Effective Time, Class A ordinary shares of PAQC, par
value $0.0001 per share, and (b) from and after the First Merger Effective Time, Perfect Class A ordinary shares.

 

2.1.4.            “Company”.
References to the “Company” in the Existing Warrant Agreement (including all exhibits thereto) shall be references to (a) prior
to the First Merger Effective Time, PAQC, and (b) from and after the First Merger Effective Time, Perfect.

 

2.2.            Other
Amendments.

 

2.2.1.            SEC
Filings. The references to “annual report on Form 10-K” and “current report on Form 8-K” in subsection
3.3.5 of the Existing Warrant Agreement are hereby deleted and replaced with “annual report on Form 20-F” and “current
report on Form 6-K”, respectively. The reference to “quarterly report on Form 10-Q” in subsection 3.3.5 of
the Existing Warrant Agreement is hereby deleted. The reference to “Current Report on Form 8-K” in Section 4.4 of
the Existing Warrant Agreement is hereby deleted and replaced with “current report on Form 6-K”.

 

    2 

     

    

 

2.2.2.            Correction
of Typographical Errors.

 

(a)            Section 6.1
of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Redemption
of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00. Subject to Section ‎6.5
hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable
and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described
in Section 6.3 below, at a Redemption Price (as defined below) of $0.01 per Warrant, provided that the Reference Value (as
defined below) has been at least $18.00 per share (subject to adjustment in compliance with Section ‎4
hereof) and provided that there is an effective registration statement covering the Class A ordinary shares issuable upon exercise
of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section ‎6.2
below).”

 

(b)            Section 6.3
of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section ‎6.1
or Section 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption
shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the
 “30-day Redemption Period”) to the Registered Holders of the Public Warrants to be redeemed at their last addresses
as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have
been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption
Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and
(b) “Reference Value” shall mean the last reported sales price of the Class A ordinary shares for
any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice
of the redemption is given.”

 

2.2.3.            Company’s
Officers. The reference to “the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer,
Secretary or other principal officer of the Company” in subsection 2.3.1 of the Existing Warrant Agreement is hereby deleted and
replaced with “the Chairman of the Board or Chief Executive Officer”. The reference to “the Chief Executive Officer,
Chief Financial Officer, Chief Operating Officer, Secretary or Chairman of the Board of the Company” in subsection 8.4.1 of the
Existing Warrant Agreement is hereby deleted and replaced with “the Chairman of the Board or Chief Executive Officer”.

 

2.2.4.            Notices.
Section 9.2 of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Any notice, statement or demand authorized
by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent),
as follows:

 

Perfect Corp.

14F, No 98, Minchuan Road

Shindian District, New Taipei City 231, Taiwan

Attention: Alice Chang

Email: Alice@PerfectCorp.com

 

    3 

     

    

 

With a copy to:

 

Sullivan & Cromwell (Hong Kong) LLP

20th Floor, Alexandra House

18 Chater Road, Central, Hong Kong

Attention: Ching-Yang Lin

Email: linc@sullcrom.com

 

Any notice, statement or demand authorized by this Agreement to be
given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered
if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such
notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attention: Compliance Department”

 

2.2.5.            Exhibit B.
Exhibit B (Form of Warrant Certificate) annexed to the Existing Warrant Agreement is hereby deleted and replaced with Exhibit A
annexed to this Agreement.

 

3.            Miscellaneous
Provisions.

 

3.1.            Effectiveness
of the Agreement. Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly subject
to the occurrence of the First Merger and the immediate subsequent occurrence of the Closing (as defined in the Business Combination Agreement)
and shall automatically be terminated and shall be null and void if the Business Combination Agreement shall be terminated for any reason.

 

3.2.            Successors.
All the covenants and provisions of this Agreement by or for the benefit of Perfect, PAQC or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns.

 

3.3.            Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by 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. Perfect hereby agrees that any action, proceeding or claim against it arising out of or relating in any
way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Perfect hereby waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

3.4.            Appointment
of Agent for Service of Process. Perfect will at all times have an authorized agent in the City of New York to receive on its behalf
service of any and all process, notices or other documents that may be served in any suit, action or proceeding arising out of or relating
to the Warrants, the Existing Warrant Agreement or this Agreement. Service of process upon such agent shall to the fullest extent permitted
by applicable law be deemed in every respect effective service of process upon Perfect, in any such suit, action or proceeding. Perfect
hereby appoints Cogency Global Inc. as its agent for such purpose, and covenants and agrees that all service of process in any suit, action
or proceeding may be made upon it at the office of such agent at 122 East 42nd Street, 18th Floor, New York, NY 10168. Notwithstanding
the foregoing, Perfect may, with prior written notice to the Warrant Agent, terminate the appointment of Cogency Global Inc. and appoint
another agent for the above purposes so that Perfect shall at all times have an agent for the above purposes in the City of New York.
Perfect hereby agrees to take any and all action as may be necessary to maintain the designation and appointment of such agent in full
force and effect until the sixth anniversary of the later of (a) the date on which the last outstanding Warrant is exercised and
(b) the last occurring Expiration Date.

 

    4 

     

    

 

3.5.            Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument. Delivery of this Agreement by one party to the other may be made by facsimile, electronic mail (including any
electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended
from time to time, or other applicable law) or other transmission method, and the parties hereto agree that any counterpart so delivered
shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

3.6.            Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

3.7.            Severability.
This 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 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 Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    5 

     

    

 

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

 

	 	PERFECT CORP.
	 	 
	 	By:	/s/ Alice H. Chang
	 	 	Name:	Alice H. Chang 
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Assignment, Assumption and Amendment Agreement]

 

     

     

    

 

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

 

	 	PROVIDENT ACQUISITION CORP.
	 	 
	 	By:	/s/ Michael Aw Soon Beng 
	 	 	Name:	Michael Aw Soon Beng 
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Assignment, Assumption and Amendment Agreement]

 

     

     

    

 

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

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	By:	/s/ Keri-Ann Cuadros
	 	 	Name:	Keri-Ann Cuadros
	 	 	Title:	Account Manager

 

[Signature Page to Assignment, Assumption and Amendment Agreement]

 

     

     

    

 

EXHIBIT A

 

[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

PERFECT CORP.

Incorporated Under the Laws of the Cayman Islands

 

CUSIP G7006A117

 

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,
$0.10 par value (“Perfect Class A ordinary shares”), of Perfect Corp., a Cayman Islands exempted company
with limited liability (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 Perfect 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 Perfect 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 Perfect Class A ordinary share, the Company will, upon
exercise, round down to the nearest whole number the number of Perfect Class A ordinary shares to be issued to the Warrant holder.
The number of Perfect 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 Perfect 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.

 

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.

 

     

     

    

 

	 	PERFECT CORP.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to Assignment, Assumption
and Amendment Agreement]

 

     

     

    

 

[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 Perfect Class A ordinary shares and are issued or to be
issued pursuant to the warrant agreement by and between Provident Acquisition Corp. (“PAQC”) and the Warrant Agent (as defined
below), dated January 7, 2021, as amended by the Assignment, Assumption and Amendment Agreement, dated as of [●], 2022 (the
 “Warrant Agreement”), duly executed by and among the Company, PAQC and Continental Stock Transfer &
Trust Company, a New York corporation, 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 Perfect
Class A ordinary shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating
to the Perfect 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 Perfect 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 Perfect Class A ordinary share, the Company shall, upon exercise, round down to the nearest whole number of Perfect 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.

 

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 Perfect Class A ordinary
shares to the order of Perfect Corp. (the “Company”) in the amount of $[•] in accordance with the terms
hereof. The undersigned requests that a certificate for such Perfect Class A ordinary shares be registered in the name of [•],
whose address is [•] and that such Perfect Class A ordinary shares be delivered to [•] whose address is [•]. If said
number of Perfect Class A ordinary shares is less than all of the Perfect Class A ordinary shares purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining balance of such Perfect 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 is a Private Placement Warrant that is
to be exercised on a “cashless” basis pursuant to the Warrant Agreement, the number of Perfect Class A ordinary shares
that this Warrant is exercisable for shall be determined in accordance with 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 Perfect 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 Perfect Class A ordinary shares. If said
number of shares is less than all of the Perfect 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 Perfect 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]

 

     

     

    

 

Date:          , 20

 

	 	 
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	 
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)

 

	 	 
	Signature Guaranteed:	 
	 	 
	 	 
	 	 

THE SIGNATURE(S) MUST 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 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

     

     

    

 

ANNEX A

 

EXISTING WARRANT AGREEMENT

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