SEC Contract Filing

Filing Date: 2021-08-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>ea145819ex10-3_albertonacq.htm
<DESCRIPTION>NOTE CONVERSION AGREEMENT DATED AUGUST 11, 2021, BY AND BETWEEN ALBERTON AND GLOBAL NATURE
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>THIS
AGREEMENT</B> (this &ldquo;<B>Agreement</B>&rdquo;) is dated as of August 11, 2021 (the &ldquo;<B>Effective Date</B>&rdquo;) by and between
Global Nature Investment Holdings Limited, a company incorporated under the laws of the Cayman Islands (&ldquo;<B>Global Nature</B>&rdquo;),
and Alberton Acquisition Corporation, a British Virgin Islands Company (the &ldquo;<B>Company</B>&rdquo;). Global Nature and Company are
sometimes referred to collectively as the &ldquo;<B>Parties</B>&rdquo;, and each, individually, as a &ldquo;<B>Party</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
in October 2019, the Company issued to Global Nature, its registered assignees or successor in interest (the &ldquo;<B>Payee</B>&rdquo;)
a note (the &ldquo;<B>GN Note 1</B>&rdquo;) in the principal amount of $1,148,800 in connection with a non-binding letter of intent to
consummate a potential business combination with Global Nature (the &ldquo;<B>GN LOI</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
in December 2019, the Company issued another note (the &ldquo;<B>GN Note 2</B>&rdquo;) in the principal amount of $500,000 to the Payee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
both GN Note 1 and GN Note 2 shall be repaid as soon as possible with best efforts but no later than 5 business days after the Company&rsquo;s
initial combination or the expiry of the term of the Company, whichever is earlier;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
the Company has entered into that certain Merger Agreement (as amended, the &ldquo;<B>Merger Agreement</B>&rdquo;) dated October 27, 2020
by and among the Company, Alberton Merger Subsidiary Inc., a Nevada corporation and a wholly-owned subsidiary of the Company (&ldquo;<B>Merger
Sub</B>&rdquo;), and SolarMax Technology, Inc., a Nevada corporation (&ldquo;<B>SolarMax</B>&rdquo;), pursuant to which SolarMax will
merge (the &ldquo;<B>Merger</B>&rdquo;) with and into Merger Sub and SolarMax will survive the Merger as a wholly-owned subsidiary of
the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
the Merger Agreement provides that the Company will settle its obligations under the promissory notes that were outstanding on September
3, 2020 by delivery of ordinary shares of the Company owned by its sponsor and its affiliate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,
the Company and Global Nature have agreed that 50% of the aggregate principal amount of GN Note 1 and GN Note 2, which is $824,400 (the
&ldquo;<B>Convertible Payable</B>&rdquo;), shall be converted (the &ldquo;<B>Conversion</B>&rdquo;) and issued to Global Nature in the
form of ordinary shares (the &ldquo;<B>Conversion Shares</B>&rdquo;) of the Company, no par value (&ldquo;<B>Ordinary Shares</B>&rdquo;)
, subject only to (i) the agreement of SolarMax to the terms of this Agreement and (ii) the closing of the Merger pursuant to the Merger
Agreement, as the same shall be amended from time to time, including an amendment consistent with the Company&rsquo;s obligations under
this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><B>WHEREAS</B>,