SEC Contract Filing

Filing Date: 2024-01-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>ea191042ex10-3_aibacq.htm
<DESCRIPTION>FORM OF REGISTRATION RIGHTS AGREEMENT, DATED AS OF DECEMBER 27, 2023, BY AND AMONG PS INTERNATIONAL GROUP LTD., AIB ACQUISITION CORPORATION, AND CERTAIN INVESTORS OF AIB ACQUISITION CORPORATION AND PSI GROUP HOLDINGS LTD
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<P STYLE="font-size: 10pt; text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.3</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit C</B></FONT></P>

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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Execution Version</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>FORM OF REGISTRATION RIGHTS
AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS REGISTRATION RIGHTS AGREEMENT
(this &ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into as of December 27, 2023 by and among (i) PS International Group Ltd., an
exempted company incorporated with limited liability in the Cayman Islands (including any successor entity thereto, &ldquo;<B><I>Pubco</I></B>&rdquo;),
(ii) AIB Acquisition Corporation, an exempted company incorporated with limited liability in the Cayman Islands (the &ldquo;<B><I>SPAC</I></B>&rdquo;),
and (iii) the undersigned parties listed under &ldquo;<B><I>SPAC Investor</I></B>&rdquo; on the signature page(s) hereto (the Sponsor
and each such party, a &ldquo;<B><I>SPAC Investor</I></B>,&rdquo; and, such parties collectively, including the Sponsor, the &ldquo;<B><I>SPAC
Investors</I></B>&rdquo;), and the undersigned parties listed under &ldquo;<B><I>Company Investor</I></B>&rdquo; on the signature page(s)
hereto (each such party, a &ldquo;<B><I>Company Investor</I></B>,&rdquo; and, collectively, the &ldquo;<B><I>Company Investors</I></B>&rdquo;
and each such SPAC Investor and Company Investor an &ldquo;<B><I>Investor</I></B>&rdquo; and collectively, the &ldquo;<B><I>Investors</I></B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, on December
27, 2023, (i) PSI Group Holdings Ltd <FONT STYLE="font-family: Times New Roman, Times, Serif">&#21033;&#33322;&#22283;&#38555;&#25511;&#32929;&#26377;&#38480;&#20844;&#21496;</FONT>,
an exempted company incorporated with limited liability in the Cayman Islands (the &ldquo;<B><I>Company</I></B>&rdquo;), (ii) AIB LLC,
a Delaware limited liability company, in the capacity under the Business Combination Agreement (defined below) as the SPAC Representative
(the &ldquo;<B><I>SPAC Representative</I></B>&rdquo; or the &ldquo;<B><I>Sponsor</I></B>&rdquo;), (iii) Pubco, (iv) PSI Merger Sub I Limited,
an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned subsidiary of Pubco (&ldquo;<B><I>First
Merger Sub</I></B>&rdquo;), (v) PSI Merger Sub II Limited, an exempted company incorporated with limited liability in the Cayman Islands
and a wholly-owned subsidiary of Pubco (&ldquo;<B><I>Second Merger Sub</I></B>&rdquo;), and (vi) SPAC, entered into that certain Business
Combination Agreement (as amended from time to time in accordance with the terms thereof, the &ldquo;<B><I>Business Combination Agreement</I></B>&rdquo;);</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to
the Business Combination Agreement, subject to the terms and conditions thereof, upon the consummation of the transactions contemplated
thereby (the &ldquo;<B><I>Closing</I></B>&rdquo;), among other matters, (i) First Merger Sub will merge with and into the Company, with
the Company continuing as the surviving entity and a wholly-owned subsidiary of Pubco (the &ldquo;<B><I>First Merger</I></B>&rdquo;),
and each ordinary share of the Company issued and outstanding immediately prior to the effective time of the First Merger will automatically
be cancelled, in exchange for the right of the holder thereof to receive Pubco Ordinary Shares, and (ii) on the following Business Day,
and as part of the same overall transaction as the First Merger, Second Merger Sub will merge with and into the SPAC (the &ldquo;<B><I>Second
Merger</I></B>&rdquo;), with the SPAC surviving the Second Merger as a wholly-owned subsidiary of Pubco and with the holders of SPAC&rsquo;s
securities receiving substantially equivalent securities of Pubco, all upon the terms and subject to the conditions set forth in the Business
Combination Agreement and in accordance with the provisions of applicable Law;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in connection
with the execution of the Business Combination Agreement, certain of the Investors (the &ldquo;<B><I>Lock-Up Investors</I></B>&r