SEC Contract Filing

Filing Date: 2024-05-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea020685701ex10-1_aceglobal.htm
<DESCRIPTION>MUTUAL TERMINATION AGREEMENT DATED MAY 24, 2024 BY AND AMONG ACE, PURCHASER, MERGER SUB AND THE COMPANY
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Mutual Termination Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This <B>Mutual Termination Agreement</B> (this
&ldquo;<B>Agreement</B>&rdquo;) is entered into as of <U STYLE="text-decoration: none">24 May</U>, 2024 (the &ldquo;<B>Effective Date</B>&rdquo;) by and among (i)
Ace Global Business Acquisition Limited, a British Virgin Islands business company (&ldquo;<B>Parent</B>&rdquo;); (ii) ACBA Merger Sub
I Limited, a British Virgin Islands business company and wholly owned subsidiary of Parent (&ldquo;<B>Purchaser</B>&rdquo;); (iii) ACBA
Merger Sub II Limited, a British Virgin Islands business company and wholly owned subsidiary of Purchaser (&ldquo;<B>Merger Sub</B>&rdquo;
and together with Parent and Purchaser, the &ldquo;<B>Purchaser Parties</B>&rdquo;); and (iv) LE Worldwide Limited, a British Virgin
Islands business company (the &ldquo;<B>Company</B>&rdquo; and together with Parent, Purchaser and Merger Sub, the &ldquo;<B>Parties</B>&rdquo;
and each, a &ldquo;<B>Party</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WHEREAS</B>, the Parties previously entered
into that certain Business Combination Agreement dated December 23, 2022 between Parent and the Company (as supplemented by a Joinder
Agreement dated March 2, 2023 between Parent, the Company, Purchaser and Merger Sub and as amended on July 6, 2023 and September 19, 2023)
(the &ldquo;<B>Merger Agreement</B>&rdquo;); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WHEREAS</B>, pursuant to Section 14.1(a) of
the Merger Agreement, the Parties desire to terminate the Merger Agreement by mutual written consent of the Purchaser Parties and the
Company, as provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOW THEREFORE</B>, in consideration of the
premises and the mutual agreements and covenants hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged,
the Parties hereby agree as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Definitions</U>. Capitalized terms used but not defined in this Agreement shall have the meanings ascribed
to them in the Merger Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Termination of the Merger Agreement</U>. Effective as of the Effective Date, the Merger Agreement is
hereby mutually terminated by the Parties in all respects in accordance with Section 14.1(a) of the Merger Agreement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Further Assurances</U>. The Parties hereby agree to execute and deliver, and to cause their respective
representatives and Affiliates to execute and deliver, from time to time, such additional documents, conveyances or other assurances reasonably
necessary to carry out the intent of this Agreement.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in">[the remainder of
this page is left blank intentionally; signature page follows]</P>

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

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

<!-- Field: Page; Sequence: 1 -->
 <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
 <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
 <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IN W