SEC Contract Filing

Filing Date: 2024-08-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea021120201ex10-1_aerkomm.htm
<DESCRIPTION>EXECUTED AUGUST 12, 2024 SAFE AGREEMENT IN THE AMOUNT OF $637,100
<TEXT>
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<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: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS INSTRUMENT AND ANY SECURITIES ISSUABLE PURSUANT
HERETO HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;<B>SECURITIES ACT</B>&rdquo;), OR UNDER THE SECURITIES
LAWS OF CERTAIN STATES. THESE SECURITIES MAY&nbsp;NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED
IN THIS SAFE AND UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.</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: center"><B>AERKOMM INC.</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>SAFE</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>(Simple Agreement for Future Equity)</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 CERTIFIES THAT in exchange for the payment
by&nbsp;_______________ (the &ldquo;<B>Investor</B>&rdquo;) of US$_____________ (the &ldquo;<B>Purchase Amount</B>&rdquo;) on [Date of
Safe] (the &ldquo;<B>Issuance Date</B>&rdquo;), AERKOMM Inc., a Nevada corporation (the &ldquo;<B>Company</B>&rdquo;), issues to the Investor
the right to certain shares of the Company&rsquo;s Capital Stock, subject to the terms described below. The Purchase Amount shall initially
be placed in an escrow account and may be released from such escrow account to an account of the Company by the joint written instructions
of the Company and the SPAC.</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">See&nbsp;<B>Section&nbsp;2</B>&nbsp;for certain
defined terms.</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>1. <I>Events</I></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">(a) <B><U>Equity
Financing</U></B>. If there is an Equity Financing before the termination of this Safe, on the closing of such Equity Financing, this
Safe will automatically convert into the number of shares of SPAC Common Stock equal to (i)&nbsp;the Purchase Amount divided by (ii)&nbsp;the
Redemption Price (the &ldquo;<B>Purchased Shares</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">In addition, if this Safe automatically converts
pursuant to an Equity Financing and subject to the terms of this paragraph, the Investor will receive, in addition to the shares of SPAC
Common Stock this Safe is convertible into, an additional number of shares of SPAC Common Stock (the &ldquo;<B>Incentive Shares</B>&rdquo;)
equal to (i)&nbsp;the Purchased Shares,&nbsp;<I>multiplied</I>&nbsp;by (ii)&nbsp;[0.94] (the &ldquo;<B>Incentive Share Ratio</B>&rdquo;).
The Incentive Shares will be subject to the restrictions and Milestone Events outlined in Section&nbsp;3 below. Receipt of the Incentive
Shares will be subject to an evaluation of the Investor&rsquo;s shareholding on the one-year anniversary of the Equity Financing (the
&ldquo;<B>One Year Test Date</B>&rdquo;). If the Investor has sold&nbsp;any Purchased Shares prior to the One Year Test Date, the Investor
will forfeit the same proportional amount of the Incentive Shares the Investor received (for example, if the Investor in one or more transactions
closing prior to the one-year anniversary of the Equity Financing sells 25% of the Investor&rsquo;s Purchased Shares, then the Investor
will thereby forfeit 25% of the Incentive Shares received by the Investor (the &ldquo;<B>Forfeited Incentive Shares</B>&rdquo;)). However,
in the event that one or more of the Milestone Events (as defined below) to release the Incentive Shares are achieved by the Company prior
to the One Year Test Date, there shall be no limitation on the Investor&rsquo;s ability to transact or sell those released Incentive Shares,
or to sell an equivalent proportion of their Purchased Shares, and selling of such shares shall not be evaluated on the One Year Test
Date (for example, if the Company achieves the First Milestone Event and the Investor receives the First Third (as defined below) of the
Incentive Shares prior to the One Year Test Date, the Investor can freely trade all of the Incentive Shares received in the First Third,
as well as up to 33.3% of their Purchased Shares prior to the One Year Test Date without any requirement for the Investor to forfeit any
of the Investor&rsquo;s remaining Incentive Shares). After the One Year Test Date, any Forfeited Incentive Shares will be redistributed
on a pro rata basis among the Company Shareholders who are subjec