Document:

Exhibit 10.7

 

April 14, 2021

 

TradeUP 88 Corp.

PO Box 309

Ugland House

Grand Cayman

KY1-1104

Cayman Islands

 

		Re:	Securities Subscription Agreement

 

Ladies and Gentlemen:

 

TradeUP 88 Corp., a Cayman
Islands exempted company (the “Company” or “us”), is pleased to accept the offer of TradeUP 88 Sponsor
LLC, a Cayman Islands limited liability company (the “Subscriber” or “you”), to purchase 2,530,000
shares of Class B ordinary shares (the “Shares”), par value $0.0001 per share (the “Class B Ordinary
Shares” and, together with all other classes of Company ordinary shares, the “Ordinary Shares”), of which
up to 330,000 Shares are subject to complete or partial forfeiture by you if the underwriter of the initial public offering (“IPO”)
of the Company does not fully exercise its over-allotment option (the “Over-allotment Option”). The terms of this letter
agreement (this “Agreement”) on which the Company is willing to sell, and the Subscriber is willing to purchase, the
Shares, and the Company and the Subscriber’s agreements regarding such Shares, are as follows:

 

1.            Purchase
of Shares. For the sum of $25,000, which the Company acknowledges receiving in cash, the Company hereby sells and issues the Shares
to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject to the forfeiture provisions of Section 3
below, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the Subscriber’s execution of this
Agreement, the Company shall register the Shares in the name of the Subscriber on the register of members of the Company.

 

2.            Representations,
Warranties and Agreements.

 

2.1.          Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby represents
and warrants to the Company and agrees with the Company as follows:

 

2.1.1.            No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made any recommendation
or endorsement of the offering of the Shares.

 

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

 

2.1.3.            Organization
and Authority. The Subscriber is a Cayman Islands limited liability company, validly existing and in good standing under the laws
of the Cayman Islands and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by you, this Agreement will be a legal, valid and binding agreement of Subscriber, enforceable against Subscriber
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance
or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding at law or in equity).

 

2.1.4.            Experience,
Financial Capability and Suitability.  Subscriber is: (i) sophisticated in financial matters and is able to evaluate the
risks and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an
indefinite period of time because the Shares have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and therefore cannot be resold unless subsequently registered under the Securities Act or an exemption from such registration
is available. Subscriber is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect
its own interests. Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (x) an effective
registration statement under the Securities Act or (y) an exemption from registration available with respect to such sale. Subscriber
is able to bear the economic risks of an investment in the Shares and can afford a complete loss of Subscriber’s investment in the
Shares.

 

    

     

    

 

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

 

2.1.6.            Regulation
D Offering.  Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act, and acknowledges the sale contemplated hereby is being made in reliance on a private placement
exemption applicable to “accredited investors” within the meaning of Section 501(a) of Regulation D under the Securities
Act or similar exemptions under federal and state law.

 

2.1.7.            Investment
Purposes.  The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Subscriber
did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 of
Regulation D under the Securities Act.

 

2.1.8.            Restrictions
on Transfer; Shell Company.  Subscriber understands the Shares are being offered in a transaction not involving a public
offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” as defined
in Rule 144(a)(3) under the Securities Act, and Subscriber understands that the book-entry(ies) representing the Shares will
contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge or otherwise transfer
the Shares, such Shares may be offered, resold, pledged or otherwise transferred only in accordance with the provisions of Section 5.1
hereof. Subscriber agrees that if any transfer of its Shares or any interest therein is proposed to be made, as a condition precedent
to any such transfer, Subscriber may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration
or an exemption, the Subscriber agrees not to resell the Shares. Subscriber further acknowledges that because the Company is a shell company,
Rule 144 may not be available to the Subscriber for the resale of the Shares until one year following consummation of the initial
business combination of the Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of
any contractual transfer restrictions.

 

2.1.9.            No
Governmental Consents.  No governmental, administrative or other third party consents or approvals are required, necessary or
appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2.          Company’s
Representations, Warranties and Agreements.  To induce the Subscriber to purchase the Shares, the Company hereby represents
and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1.            Organization
and Corporate Power.  The Company is a Cayman Islands exempted corporation and is qualified to do business in every jurisdiction
in which the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

2.2.2.           No
Conflicts.  The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the Company’s Memorandum
and Articles of Association, as amended to the date hereof (the "Memorandum and Articles"), (ii) any agreement,
indenture or instrument to which the Company is a party, (iii) any law, statute, rule or regulation to which the Company
is subject, or (iv) any agreement, order, judgment or decree to which the Company is subject.

 

    2

     

    

 

2.2.3.            Title to
Securities.  Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Memorandum and Articles,
and registration in the register of members of the Company, the Shares will be duly and validly issued as fully paid and
nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Memorandum and Articles, the
Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other
than (a) transfer restrictions hereunder and under the other agreements to which the Shares may be subject, (b) transfer
restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due to the actions of the
Subscriber.

 

2.2.4.           No Adverse
Actions.  There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this
Agreement or (ii) question the validity or legality of any transactions or seek to recover damages or to obtain other relief in
connection with any transactions.

 

2.2.5            Authorization.
The Class A Shares issuable upon conversion of the Class B Shares have been duly authorized and reserved for issuance upon such
conversion.

 

3.            Forfeiture
of Shares.

 

3.1.          Partial
or No Exercise of the Over-allotment Option.  In the event the Over-allotment Option granted to the underwriter of the IPO is
not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares) shall forfeit
any and all rights to such number of Shares (up to an aggregate of 330,000 Shares and pro rata based upon the percentage of the Over-allotment
Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial shareholders prior to the IPO,
if any) will own an aggregate number of Shares (not including any private placement units that are expected to be purchased prior to
or at the closing of the IPO, Shares issuable upon exercise of any warrants or any Ordinary Shares purchased by Subscriber (and all other
initial shareholders prior to the IPO, if any) in the IPO or in the aftermarket) equal to 20% of the issued and outstanding Ordinary
Shares immediately following the IPO (in each case, not including Class A Shares issuable upon exercise of any warrants).

 

3.2.          Termination
of Rights as Shareholder.  If any of the Shares are forfeited in accordance with this Section 3, then after
such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company
shall take such action as is appropriate to cancel such forfeited Shares.

 

4.            Waiver
of Liquidation Distributions; Redemption Rights.  In connection with the Shares purchased pursuant to this Agreement, the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account
which will be established for the benefit of the Company’s public shareholders and into which substantially all of the proceeds
of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s
failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber purchases Ordinary Shares
in the IPO or in the aftermarket, any additional Ordinary Shares so purchased shall be eligible to receive any liquidating distributions
by the Company. However, in no event will the Subscriber have the right to redeem any Shares into funds held in the Trust Account upon
the successful completion of an initial business combination.

 

5.            Restrictions
on Transfer.

 

5.1.          Securities
Law Restrictions.  In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated at or prior to the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not
to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to
be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company,
that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated
by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

 

    3

     

    

 

5.2.          Lock-up.
Subscriber acknowledges that the Shares will be subject to lock-up provisions (the “Lock-up”) contained in the Insider
Letter.

 

5.3.          Restrictive
Legends.  All book-entries representing the Shares shall be subject to the following restrictive legends:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS
AVAILABLE.”

 

“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO LOCKUP PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING
THE TERM OF THE LOCKUP PERIOD.”

 

5.4.          Additional
Shares or Substituted Securities.  In the event of the declaration of a share dividend, the declaration of a special dividend
payable in a form other than Ordinary Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding Ordinary Shares without receipt of consideration, any new, substituted or additional
securities or other property which are by reason of such transaction distributed with respect to any Shares subject to this Section 5
or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section 3.
Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number or class of Shares subject
to this Section 5 and Section 3.

 

5.5.          Registration
Rights.  Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to a Registration
and Shareholder Rights Agreement to be entered into with the Company at or prior to the closing of the IPO (the “Registration
Rights Agreement”).

 

6.            Other
Agreements.

 

6.1.          Further
Assurances.  Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary
to carry out the intent of this Agreement.

 

6.2.          Notices. 
All notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered: (i) personally
or sent by first class registered or certified mail, overnight courier service or facsimile or electronic transmission to the address
designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as
may be designated in writing by such party and (iii) by electronic mail, to the email address most recently provided to such party
or such other email address as may be designated in writing by such party. Any notice or other communication so transmitted shall be deemed
to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if
sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days
after mailing if sent by mail.

 

6.3.          Entire
Agreement.  This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the
form to be filed as an exhibit to the Company’s Registration Statement on Form S-1 for the IPO, embodies the entire agreement
and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes all prior oral or written
agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of
any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions
of this Agreement.

 

6.4.          Modifications
and Amendments.  The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

    4

     

    

 

6.5.          Waivers
and Consents.  The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be
deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not
similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and
shall not constitute a continuing waiver or consent.

 

6.6.          Assignment. 
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of the other
party.

 

6.7.          Benefit. 
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto and shall
inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed
to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary
of this Agreement.

 

6.8.          Governing
Law.  This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York.

 

6.9.          Severability. 
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in this Agreement
shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems
it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such
provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force
and effect.

 

6.10.        No
Waiver of Rights, Powers and Remedies.  No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such
party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance
of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise
of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right
of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall
entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute
a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice
or demand.

 

6.11.        Survival
of Representations and Warranties.  All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any
investigations made by or on behalf of the parties.

 

6.12.        No
Broker or Finder.  Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create
any liability on the other. Each of the parties hereto agrees to indemnify and hold the other harmless from any claim or demand for commission
or other compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such
party and to bear the cost of legal expenses incurred in defending against any such claim.

 

6.13.        Headings
and Captions.  The headings and captions of the various sections of this Agreement are for convenience of reference only and
shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14.        Counterparts;
Electronic Signature.  This Agreement may be executed in one or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to
the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an
original thereof. The words “execution,” “signed,” “signature,” and words of like import in this Agreement
or in any other certificate, agreement or document related to this Agreement shall include images of manually executed signatures transmitted
by facsimile or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”) and
other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records
(including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic
means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping
system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law
based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

 

    5

     

    

 

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

 

6.16.        Mutual
Drafting.  This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject to
the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7.            Voting
and Redemption of Shares.  Subscriber agrees to vote the Shares in favor of an initial business combination that the Company
negotiates and submits for approval to the Company’s shareholders and shall not seek redemption with respect to such Shares in connection
with an initial business combination or any amendment to the Company’s Memorandum and Articles of Association, as amended, prior
to an initial business combination. Additionally, the Subscriber agrees not to redeem any Shares in connection with a redemption or tender
offer presented to the Company’s shareholders in connection with an initial business combination negotiated by the Company.

 

(Signature Page Follows)

 

    6

     

    

 

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

 

	 	Very truly yours,
	 	 
	 	TradeUP 88 Corp.

 

	 	By:	/s/ Lei Huang
	 	 	Name: Lei Huang
	 	 	Title: Director

 

	Accepted and agreed as of the date first written above.	 
	 	 
	TradeUP 88 Sponsor LLC	 

 

	By:	/s/ Jianwei Li	 
	 	Name: Jianwei Li	 
	 	Title: Manager	 

 

Signature
Page to Securities Subscription AgreementExhibit 10.8

 

SECURITIES ASSIGNMENT AGREEMENT

 

This Securities Assignment Agreement is dated as
of May 24, 2021 (this “Assignment”), by and among TradeUp 88 Sponsor LLC, a Cayman limited liability company (the “Seller”),
and the parties identified on the signature page hereto (each a “Buyer” and collectively, the “Buyers”).

 

WHEREAS, on the terms and subject to the conditions
set forth in this Assignment, the Seller wishes to assign to the Buyers Class B ordinary shares, $0.0001 par value (“Class B
Shares”), of TradeUp 88 Corp., a Cayman Islands exempted company (the “Company”), a newly-organized blank
check company, or special purpose acquisition company, formed for the purpose of effecting a merger, stock exchange, asset acquisition,
stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities (a “Business
Combination”), and the Buyers wish to purchase and receive such Shares (as defined below) from the Seller.

 

NOW, THEREFORE, in consideration of the premises,
representations, warranties and the mutual covenants contained in this Assignment, and for other good and valuable consideration, the
receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as
follows:

 

Section 1.           Assignment of Shares. Seller hereby assigns 20,000 Class B Shares to each of the Buyers (collectively,
the “Shares”) for a total of 60,000 Class B Shares. Each Buyer has paid to the Seller an aggregate amount of One Hundred
Ninety Eight Dollars ($198), for an aggregate purchase price of Five Hundred Ninety Four Dollars ($594) (the “Purchase Price”),
in consideration of the assignment of the Shares.

 

Section 2.          Potential Forfeiture of Shares.

 

(a) In the event that the Company determines for
any reason not to nominate, elect or appoint any Buyer as a member of the board of directors of the Company, or if any Buyer otherwise
does not become a member of the board of directors of the Company for any reason, on or prior to the closing of the Public Offering (as
defined below), or if the Public Offering is not consummated on or prior to December 31, 2021, such Buyer shall automatically forfeit
all of the Shares held by such Buyer, which Shares shall automatically be assigned and returned to the Seller, and the Seller shall promptly
return the applicable portion of the Purchase Price to such Buyer.

 

(b)       In
the event that, following the closing of the Public Offering and prior to the consummation of a Business Combination, any Buyer resigns
or otherwise ceases to serve as a member of the board of the directors for any reason, Seller (or its designee(s)) shall have the right,
but not the obligation, to purchase from the Buyer fifty percent (50%) of the Shares purchased by such Buyer hereunder, for a purchase
price equal to the per-share purchase price paid by such Buyer for such Shares hereunder. Such right shall be exercisable by Seller at
any time prior to the consummation of a Business Combination by providing written notice of such exercise to the applicable Buyer.

 

    	 	1	 

     

    

 

(c)        The
applicable Buyer shall take all actions as may be reasonably necessary to consummate any forfeiture or sale contemplated by this Section
2, including entering into agreements and delivering certificates and instruments and consents as may be deemed by Seller to be necessary
or appropriate, and the applicable Buyer hereby grants to Seller and any representative designated by Seller without further action by
such Buyer a limited irrevocable power of attorney to effect any forfeiture or transfer contemplated hereby on behalf of such Buyer, which
power of attorney shall be deemed to be coupled with an interest.

 

Section 3.           No Conflicts. Each party represents
and warrants that neither the execution and delivery of this Assignment by such party, nor the consummation or performance by such party
of any of the transactions contemplated hereby, will with or without notice or lapse of time, constitute, create or result in a breach
or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any agreement
to which it is a party.

 

Section 4.           Investment Representations. Each
Buyer represents and warrants, with respect to himself or herself only, as set forth herein. Such Buyer hereby acknowledges that an investment
in the Shares involves certain significant risks. Such Buyer has no need for liquidity in its investment in the Shares for the foreseeable
future and is able to bear the risk of that investment for an indefinite period. Such Buyer acknowledges and hereby agrees that the Shares
will not be transferable under any circumstances unless registered by the Company in accordance with federal and state securities laws
or sold in compliance with an exemption under such laws and such transfer complies with all applicable lock-up restrictions on such Buyer
(as described in the Company’s draft registration statement on Form S-1, as may be amended (the “Registration Statement”),
under the Securities Act of 1933, as amended (the “Act”), relating to a contemplated underwritten public offering by
the Company (the “Public Offering”)). Such Buyer further understands and agrees that Buyer will be required to execute
and deliver (a) a letter agreement including, among other provisions, the foregoing transfer restrictions, and (b) a stock escrow agreement
with respect to such shares, in each case as described in the Registration Statement, and that any certificates evidencing the Shares
bear a legend referring to such transfer restrictions.

 

The Shares are being acquired solely for such Buyer’s
own account, for investment purposes only, and are not being purchased with a view to or for the resale, distribution, subdivision or
fractionalization thereof; and such Buyer has no present plans to enter into any contract, undertaking, agreement or arrangement for such
resale, distribution, subdivision or fractionalization. Such Buyer has been given the opportunity to (i) ask questions of and receive
answers from the Seller and the Company concerning the terms and conditions of the Shares, and the business and financial condition of
the Company and (ii) obtain any additional information that the Seller possesses or can acquire without unreasonable effort or expense
that is necessary to assist such Buyer in evaluating the advisability of the purchase of the Shares and an investment in the Company.
Such Buyer is not relying on any oral representation made by any person as to the Company or its operations, financial condition or prospects.
Such Buyer is an “accredited investor” as defined in Regulation D promulgated by the Securities and Exchange Commission under
the Act. In the event such Buyer does not join the Board of Directors of the Company upon the consummation of the Public Offering (whether
and either at the election of the Company or such Buyer for any reason), then the Buyer shall promptly return the Shares to the Company.

 

    	 	2	 

     

    

 

Section 5.            Miscellaneous. This Assignment,
together with the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes the entire agreement
and understanding of the parties hereto in respect of its subject matter. This Assignment may be executed in two or more counterparts,
each of which will be deemed an original but all of which together will constitute one and the same instrument. This Assignment may not
be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto. Except as
otherwise provided herein, no party hereto may assign either this Assignment or any of its rights, interests, or obligations hereunder
without the prior written approval of the other party.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	3	 

     

    

  

IN WITNESS WHEREOF, the undersigned have executed
this Assignment to be effective as of the date first set forth above.

  

 

	 	TRADEUP 88 SPONSOR LLC
	 	 
	 	 
	 	By:	 /s/ Jianwei Li
	 	Name: Jianwei Li
	 	Title:   Manager
	 	 
	 	 
	 	BUYERS:
	 	 
	 	 
	 	/s/ David X. Li
	 	David X. Li
	 	 
	 	/s/ Tao Jiang
	 	Tao Jiang
	 	 
	 	/s/ Michael Davidov
	 	Michael Davidov

 

 

[Signature Page to Securities Assignment Agreement]

 

    	 	4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}]]