Form 8-K
8-K — Calisa Acquisition Corp
Accession: 0001493152-26-043574
Filed: 2026-09-21
Period: 2026-09-15
CIK: 0002026767
SIC: 7374 (SERVICES-COMPUTER PROCESSING & DATA PREPARATION)
Item: Entry into a Material Definitive Agreement
Item: Financial Statements and Exhibits
Documents
8-K — form8-k.htm (Primary)
EX-10.1 (ex10-1.htm)
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8-K
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2026-09-15
2026-09-15
0002026767
ALIS:OrdinarySharesParValue0.000075PerShareMember
2026-09-15
2026-09-15
0002026767
ALIS:RightsEachEntitlingHolderToOneTenthOfOneOrdinaryShareUponCompletionOfCompanysInitialBusinessCombinationMember
2026-09-15
2026-09-15
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): September 15, 2026
CALISA
ACQUISITION CORP
(Exact
Name of Registrant as Specified in Charter)
Cayman
Islands
001-42910
00-0000000 N/A
(State
or Other Jurisdiction
(Commission
(IRS
Employer
of
Incorporation)
File
Number)
Identification
No.)
205
W. 37th Street
New
York, NY 10018
(Address
of Principal Executive Offices) (Zip Code)
(203)
998-5540
(Registrant’s
Telephone Number, Including Area Code)
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☒
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to section 12(b) of the Act:
Title
of Each Class
Trading
Symbol(s)
Name
of each exchange on which registered
Units,
each consisting of one ordinary share and one right
ALISU
The
Nasdaq Stock Market LLC
Ordinary
Shares, par value $0.000075 per share
ALIS
The
Nasdaq Stock Market LLC
Rights,
each entitling the holder to one tenth of one ordinary share upon the completion of the Company’s initial business combination
ALISR
The
Nasdaq Stock Market LLC
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01. Entry into a Material Definitive Agreement.
On
September 15, 2026, Calisa Acquisition Corp, a Cayman Islands exempted company (the “Company”), Goodvision AI Inc., a Cayman
Islands exempted company (“Goodvision”), and the funds, accounts and/or other investment vehicles managed by Harraden Circle
Investments, LLC signatory thereto (collectively, the “Purchaser”), entered into a Prepaid Forward Purchase Agreement (the
“FPA”). As previously disclosed, the Company, Calisa Merger Sub, a Cayman Islands exempted company and a direct, wholly owned
subsidiary of the Company (“Merger Sub”), and Goodvision are parties to a Business Combination Agreement, dated as of March
6, 2026 (as amended, the “Business Combination Agreement”), pursuant to which Merger Sub will merge with and into Goodvision,
with Goodvision surviving the merger as a direct, wholly owned subsidiary of the Company (the “Business Combination”). The
FPA is intended to potentially maximize the amount of funds retained by the Company following consummation of the Business Combination.
In
accordance with the FPA and subject to the terms and conditions set forth therein, the Purchaser will purchase from holders of ordinary
shares, par value $0.000075 per share, of the Company (“Ordinary Shares”) up to 3,000,000 Ordinary Shares (such shares to
be purchased, the “Forward Purchase Shares”), at a price per share no greater than the redemption price payable to redeeming
public shareholders of the Company (the “Redemption Price”). The cash held in the Company’s trust account as of August
31, 2026 was approximately $10.31 per public share. The Purchaser will not vote any Ordinary Shares purchased pursuant to the
FPA at the shareholder meeting relating to the Business Combination.
No
later than the earlier of (a) one business day after the closing of the Business Combination and (b) the date any assets from the Company’s
trust account are disbursed in connection with the Business Combination, the Company will cause the Purchaser to be paid directly, out
of the funds so disbursed, a cash amount (the “Prepayment Amount”) equal to the number of Forward Purchase Shares multiplied
by the Redemption Price. The Company will also reimburse the Purchaser for expenses incurred in connection with the FPA and the purchase
of the Forward Purchase Shares.
On
the date that is 12 months after the closing of the Business Combination (or such earlier date specified by the Seller) (the “Maturity
Date”), any Forward Purchase Shares not sold by the Purchaser will be returned to the Company, and any remaining amounts in respect
of the Forward Purchase Shares will be retained by the Purchaser, less any amounts then owing to the Company from sales effected prior
to the Maturity Date.
The Seller may
terminate any portion of the FPA earlier than the Maturity Date by notifying the Company of the termination and paying the Company the
then applicable Reset Price. The Reset Price is initially the Redemption Price, but may be adjusted downwards under certain circumstances
as described in the FPA.
The
foregoing description of the FPA is not complete and is qualified in its entirety by reference to the full text of the FPA, a copy of
which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Cautionary
Note Regarding Forward Looking Statements
Neither
the Company, Goodvision nor any of their respective affiliates makes any representation or warranty as to the accuracy or completeness
of the information contained in this Current Report on Form 8-K. This Current Report is not intended to be all-inclusive or to contain
all the information that a person may desire in considering the proposed transactions discussed herein, and it is not intended to form
the basis of any investment decision or any other decision in respect of the proposed transactions.
This
Current Report and the exhibits filed or furnished herewith include certain “forward-looking statements” within the meaning
of the federal securities laws with respect to the proposed transaction between the Company and Goodvision. These forward-looking statements
generally are identified by words and phrases such as “aspire,” “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “will be,” “will continue,” “will likely result,” “could,” “should,”
“would,” “believe(s),” “predicts,” “potential,” “continue,” “future,”
“opportunity,” “strategy” and similar expressions. Forward-looking statements are based on current expectations
and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed
or implied by such forward-looking statements.
Factors
that may cause such differences include, among other things, the risk that the benefits of the Business Combination may not be realized;
the risk that the Business Combination may not be completed in a timely manner or at all; the amount of redemption requests made by the
Company’s public shareholders; the failure to satisfy the conditions to the consummation of the Business Combination; the ability
to meet applicable stock exchange listing standards following the Business Combination; the occurrence of any event, change or other
circumstance that could give rise to the termination of the Business Combination Agreement or the FPA; the outcome of any legal proceedings
that may be initiated following announcement of the Business Combination or the FPA; costs related to the Business Combination; changes
in applicable laws or regulations; and other risks and uncertainties described in the Company’s filings with the Securities and
Exchange Commission (“SEC”), including the definitive proxy statement/prospectus described below.
The
Company and Goodvision caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date
made. Neither the Company nor Goodvision undertakes or accepts any obligation to publicly update or revise any forward-looking statements
to reflect any change in expectations or any change in events, conditions or circumstances on which any such statement is based, except
as required by applicable law.
Additional
Information and Where to Find It
In
connection with the proposed Business Combination, the Company has filed with the SEC a registration statement on Form S-4 (File No.
333-296926), which includes a proxy statement/prospectus (the “Registration Statement”). The Registration Statement was declared
effective by the SEC on September 11, 2026, and the Company has filed the definitive proxy statement/prospectus with the SEC. The Company
also will file other documents regarding the proposed Business Combination with the SEC. This Current Report does not contain all the
information that should be considered concerning the Business Combination and is not intended to form the basis of any investment decision
or any other decision in respect of the Business Combination.
BEFORE
MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITYHOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS
AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE BUSINESS COMBINATION CAREFULLY BECAUSE THEY
CONTAIN IMPORTANT INFORMATION ABOUT GOODVISION, THE COMPANY, THE BUSINESS COMBINATION AND RELATED MATTERS. Investors and securityholders
may obtain free copies of the definitive proxy statement/prospectus and other documents filed with the SEC by the Company through the
website maintained by the SEC at www.sec.gov. In addition, investors and securityholders may obtain free copies of the documents filed
with the SEC by directing a written request to the Company at 205 W. 37th Street, New York, New York 10018.
Participants
in the Solicitation
The
Company, Goodvision and certain of their respective directors, executive officers and employees may be considered to be participants
in the solicitation of proxies from the Company’s shareholders in connection with the Business Combination. Information regarding
the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the Company’s shareholders in connection
with the Business Combination, including a description of their respective direct and indirect interests, by security holdings or otherwise,
is included in the definitive proxy statement/prospectus. Additional information regarding the Company’s directors and executive
officers can also be found in the Company’s filings with the SEC. These documents are available free of charge as described above.
No
Offer or Solicitation
This
Current Report on Form 8-K does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities
or in respect of the Business Combination, or (ii) an offer to sell or the solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall
be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits:
Exhibit
No.
Description
10.1
Prepaid Forward Purchase Agreement, dated as of September 15, 2026, by and among Calisa Acquisition Corp, Goodvision AI Inc. and the Purchaser.
104
Cover
Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
September 21, 2026
CALISA
ACQUISITION CORP
By:
/s/
Hongfei Zhang
Name:
Hongfei
Zhang
Title:
Chief
Executive Officer
EX-10.1
EX-10.1
Filename: ex10-1.htm · Sequence: 2
Exhibit
10.1
Date:
September
15, 2026
To:
Calisa
Acquisition Corp., a Cayman Islands exempted company, which will be renamed Goodvision AI Holding Limited (“ALIS”,
or the “Counterparty”).
Address:
205 W. 37th Street
New York, NY 10018
From:
(i)
Harraden
Circle Investors, LP (“HCI”), (ii) Harraden Circle Special Opportunities, LP (“HCSO”), (iii) Harraden Circle
Strategic Investments, LP (“HCSI”), (iv) Harraden Circle Concentrated, LP (“HCC”) (with HCI, HCSO, HCSI,
HCC collectively as “Seller”)
Re:
Prepaid
Share Forward (the “Transaction”)
The
purpose of this agreement (this “Confirmation”) is to confirm the terms and conditions of the transaction (the “Transaction”)
entered into between Seller and the Counterparty on the Trade Date specified below. The term “Counterparty” refers
to ALIS, which will be renamed Goodvision AI Holding Limited following the Business Combination. “Target” refers to
Goodvision AI Inc., a Cayman Islands exempted operating company, prior to the Business Combination (defined below). Certain terms of
the Transaction shall be as set forth in this Confirmation, with additional terms as set forth in a Pricing Date Notice (the “Pricing
Date Notice”) in the form of Schedule A hereto. This Confirmation, together with the Pricing Date Notice, constitutes
a “Confirmation” and the Transaction constitutes a separate “Transaction” as referred to in the ISDA Form (as
defined below).
This
Confirmation, together with the Pricing Date Notice, evidences a complete binding agreement between Seller, Target and Counterparty as
to the subject matter and terms of the Transaction to which this Confirmation relates and shall supersede all prior or contemporaneous
written or oral communications with respect thereto.
The
2006 ISDA Definitions (the “Swap Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity
Definitions”, and with the Swap Definitions, the “Definitions”), each as published by the International
Swaps and Derivatives Association, Inc., are incorporated into this Confirmation. If there is any inconsistency between the Definitions
and this Confirmation, this Confirmation governs. If, in relation to the Transaction, there is any inconsistency between the ISDA Form,
this Confirmation (including the Pricing Date Notice), the Swap Definitions and the Equity Definitions, the following will prevail for
purposes of such Transaction in the order of precedence indicated: (i) this Confirmation (including the Pricing Date Notice); (ii) the
Equity Definitions; (iii) the Swap Definitions; and (iv) the ISDA Form.
This
Confirmation, together with the Pricing Date Notice, shall supplement, form a part of, and be subject to an agreement in the form of
the 2002 ISDA Master Agreement (the “ISDA Form”) as if Seller, Target and Counterparty had executed an agreement in
such form (but without any Schedule except as set forth herein under “Schedule Provisions”) on the Trade Date.
The
terms of the particular Transaction to which this Confirmation relates are as follows, and capitalized terms, as used herein and to the
extent not otherwise defined, shall have as their definitions the applicable terms described below:
General
Terms
Type
of Transaction:
Share
Forward Transaction
Trade
Date:
September
15, 2026
Pricing
Date:
The
date specified in the Pricing Date Notice.
Effective
Date:
One
(1) Settlement Cycle following the Pricing Date.
Maturity
Date:
The
earlier to occur of (a) the date that is 12-months after the closing of the transactions between Counterparty and Target (the “Business
Combination”) pursuant to the Business Combination Agreement, dated as of March 6, 2026, between ALIS and the Target (the
“Merger Agreement”), or (b) the date specified by Seller in a written notice to be delivered to Counterparty at
Seller’s sole discretion (which Maturity Date shall not be earlier than the day such notice is effective). The Maturity Date
notice will become effective immediately upon its delivery from Seller to Counterparty in accordance with this Confirmation.
VWAP
Price:
For
any scheduled trading day, the volume weighted average price per Share for such day as reported on the relevant Bloomberg Screen
“GVAI US <Equity> AQR SEC” (or any successor thereto), or if such price is not so reported on such trading day
for any reason or is erroneous, the VWAP Price shall be as reasonably determined by the Calculation Agent.
Pricing
Date Notice:
Seller
shall deliver to Counterparty the Pricing Date Notice no later than one (1) business day in which Nasdaq and commercial banks in
the City of New York are open for business (each such day an “Exchange Business Day”) following the closing of
the Business Combination. The Pricing Date Notice shall include the Number of Shares subject to this Confirmation.
Seller:
Seller.
Buyer:
Counterparty.
Shares:
Prior
to the closing of the Business Combination, the ordinary shares, par value $0.000075 per share, of Calisa Acquisition Corp., a Cayman
Island exempted company (Ticker: “ALIS”) and after the Business Combination, the Class A ordinary shares, par
value $0.000075 per share, of Goodvision AI Holding Limited, a Cayman Islands exempted company (Ticker: “GVAI”).
Number
of Shares:
The
number of Recycled Shares, but in no event more than the Maximum Number of Shares. The Number of Shares is subject to reduction as
described under “Optional Early Termination”.
Maximum
Number of Shares:
3,000,000
Shares.
Recycled
Shares:
A
number of free trading Shares (such Shares referred to herein as the “Public Shares”)
equal to the number of Shares purchased by Seller from third parties (other than Counterparty)
through a broker in the open market (other than through Counterparty); provided that Seller
shall have irrevocably waived all redemption rights with respect to such Shares as provided
below in the section captioned “Transactions by Seller in the Shares.” Seller
shall specify the number of Recycled Shares (the “Number of Recycled Shares”)
in the initial Pricing Date Notice.
Initial
Price:
The
redemption price in accordance with the organizational/constitutive documents of the Counterparty (the “Redemption Price”).
Reset
Price:
The
Reset Price will initially be the Initial Price. From time to time in the Counterparty’s sole discretion, the Reset Price may
be adjusted to the lower of the current Reset Price and the average daily VWAP over the prior 5 trading days. The Reset Price shall
be subject to reduction upon a Dilutive Offering Reset immediately upon the occurrence of such Dilutive Offering. For avoidance of
doubt the Reset Price may only be adjusted downward. Notwithstanding the foregoing, the Reset Price will in no event be less than
$4.00 per Share (subject to adjustment for stock splits, stock dividends, recapitalizations and other similar structural changes).
Dilutive
Offering Reset:
To
the extent the Counterparty closes any agreement to sell or grants any right to reprice, or otherwise disposes of or issues (or announce
any offer, sale, grant or any option to purchase or other disposition) any Shares or any securities of the Counterparty or any of
its respective subsidiaries (but for the avoidance of doubt, excluding any secondary transfers), which would entitle the holder thereof
to acquire or sell on behalf of the Counterparty at any time Shares or other securities of the Counterparty, including, without limitation,
any debt, preferred stock, preference shares, right, option, warrant or other instrument that is at any time convertible into or
exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Shares or other securities of the Counterparty,
at an effective price per share less than the then existing Reset Price (a “Dilutive Offering”), then the Reset
Price shall be modified to equal such reduced price as of such date; provided that, without limiting the foregoing, a Dilutive Offering
Reset (for the avoidance of doubt) (i) shall include any Equity Line of Credit or other similar financing entered into after the
date of this Agreement, (ii) shall not include the grant, issuance or exercise of employee stock options or other equity awards under
the Counterparty’s equity compensation plans or Shares underlying warrants now outstanding or issued in connection with the
Business Combination, (iii) shall not include Shares issued in connection with the Business Combination pursuant to the Merger Agreement
or in connection with the private placement to be consummated concurrently or immediately prior to the consummation of the Business
Combination, or (iv) shall not include any Shares or other securities convertible or exercisable for Shares issued pursuant to any
other acquisition, merger or similar transaction by the Counterparty.
Prepayment:
Payment
of the Prepayment Amount shall be made directly from the Counterparty’s Trust Account
maintained by Continental Stock Transfer & Trust Company holding the net proceeds of
the sale of the units in Counterparty’s initial public offering (the “Trust
Account”) no later than the Prepayment Date.
Counterparty
shall provide (a) notice to Counterparty’s trustee of the entry into this Confirmation no later than one (1) Local Business
Day following the date hereof, with copy to Seller and Seller’s outside legal counsel, and (b) to Seller and Seller’s
outside legal counsel a final draft of the flow of funds from the Trust Account prior to the closing of the Business Combination
itemizing the Prepayment Amount due; provided that Seller shall be invited to attend any closing call in connection with the Business
Combination.
Prepayment
Amount:
At
the close of the Business Combination, the Counterparty will pay to the Seller an amount equal to the (i) Number of Shares, multiplied
by (ii) the Initial Price (“Prepayment Amount”).
Prepayment
Date:
The
earlier of (a) one (1) Local Business Day after the closing of the Business Combination and (b) the date any assets from the Trust
Account are disbursed in connection with the Business Combination.
Variable
Obligation:
Not
applicable.
Redemptions:
Counterparty
shall promptly accept any redemption reversal requests in connection with purchases of Shares by Seller for any Public Shares subject
to this Confirmation.
Exchange(s):
The
Nasdaq Stock Market LLC (“Nasdaq”).
Related
Exchange(s):
All
Exchanges.
Reimbursement
of Legal Fees and Other Expenses:
On
the Trade Date, Counterparty shall pay to Seller an amount equal to (a) the reasonable and documented attorney fees and other reasonable
and documented expenses related to such attorney fees incurred by Seller or its affiliates in connection with this Transaction and
(b) expenses actually incurred in connection with the acquisition of the Public Shares.
Settlement
Terms
Settlement
Method Election:
Not
Applicable.
Settlement
Method:
Physical
Settlement.
Settlement
Currency:
USD.
Settlement
Date:
Two
(2) Exchange Business Days following the Maturity Date.
Excess
Dividend Amount Ex
Ex
Amount.
Optional
Early Termination
From
time to time and on any Exchange Business Day following the closing of the Business Combination (any such date, an “OET
Date”), and subject to the terms and conditions below, Seller may, in its absolute discretion, terminate the Transaction
in whole or in part with respect to any number of Shares by giving notice of such termination and the specified number of Shares
(such quantity, the “Terminated Shares”). As of each OET Date, Counterparty shall be entitled to an amount from
Seller, and the Seller shall pay to Counterparty, an amount equal to the then in effect Reset Price, multiplied by (b) the Terminated
Shares. The Number of Shares shall be reduced by the number of Terminated Shares.
The
remainder of the Transaction, if any, shall continue in accordance with its terms; provided that if the OET Date is also the stated
Maturity Date, the remainder of the Transaction shall be settled in accordance with the other provisions of “Settlement Terms”.
Maturity
Consideration:
At
Maturity, in exchange for the return of the Number of Shares to Counterparty, Seller shall retain an amount equal to (i) the Number
of Shares multiplied by (ii) the Initial Price.
Maturity
Settlement:
The
Seller will retain the Maturity Consideration from the Prepayment Amount.
Share
Adjustments:
Method
of Adjustment:
Calculation
Agent Adjustment.
Extraordinary
Events:
Consequences
of Merger Events involving Counterparty:
Share-for-Share:
Calculation
Agent Adjustment.
Share-for-Other:
Cancellation
and Payment.
Share-for-Combined:
Component
Adjustment.
Tender
Offer:
Applicable;
provided, however, that Section 12.1(d) of the Equity Definitions is hereby amended by adding “, or of the outstanding
Shares,” before “of the Issuer” in the fourth line thereof. Sections 12.1(e) and 12.1(l)(ii) of the Equity Definitions
are hereby amended by adding “or Shares, as applicable,” after “voting Shares”.
Consequences
of Tender Offers:
Share-for-Share:
Calculation
Agent Adjustment.
Share-for-Other:
Calculation
Agent Adjustment.
Share-for-Combined:
Calculation
Agent Adjustment.
Composition
of Combined Consideration:
Not
Applicable.
Nationalization,
Insolvency or Delisting:
Cancellation
and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity
Definitions, it shall also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately
re-listed, re-traded or re-quoted on any of the New York Stock Exchange, the Nasdaq Global Select Market, Nasdaq Capital Market or
the Nasdaq Global Market (or their respective successors) or such other exchange or quotation system which, in the determination
of the Calculation Agent, has liquidity comparable to the aforementioned exchanges; if the Shares are immediately re-listed, re-traded
or re-quoted on any such exchange or quotation system, such exchange or quotation system shall be deemed to be the Exchange.
Business
Combination Exclusion:
Notwithstanding
the foregoing or any other provision herein, the parties agree that the Business Combination shall not constitute a Merger Event,
Tender Offer, Delisting or any other Extraordinary Event hereunder.
Additional
Disruption Events:
(a)
Change
in Law:
Applicable;
provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by adding the words “(including, for the
avoidance of doubt and without limitation, adoption or promulgation of new regulations authorized or mandated by existing statute)”
after the word “regulation” in the second line thereof.
(a)
Failure
to Deliver:
Not
Applicable.
(b)
Insolvency
Filing:
Applicable.
(c)
Hedging
Disruption:
Not
Applicable.
(d)
Increased
Cost of Hedging:
Not
Applicable.
(e)
Loss
of Stock Borrow:
Not
Applicable.
(f)
Increased
Cost of Stock Borrow:
Not
Applicable.
Determining
Party:
For
all applicable events, Seller, unless (i) an Event of Default, Potential Event of Default or Termination Event has occurred and is
continuing with respect to Seller, or (ii) if Seller fails to perform its obligations as Determining Party, in which case a Third
Party Dealer (as defined below) in the relevant market selected by Counterparty will be the Determining Party.
Additional
Provisions:
Calculation
Agent:
Seller,
unless (i) an Event of Default, Potential Event of Default or Additional Termination Event has occurred and is continuing with respect
to Seller, or (ii) if Seller fails to perform its obligations as Calculation Agent, in which case an unaffiliated leading dealer
in the relevant market selected by Counterparty in its sole discretion will be the Calculation Agent.
In
the event that a party (the “Disputing Party”) does not agree with any determination made (or the failure to make
any determination) by the Calculation Agent, the Disputing Party shall have the right to require that the Calculation Agent have
such determination reviewed by a disinterested third party that is a dealer in derivatives of the type that is the subject of the
dispute and that is not an Affiliate of either party (a “Third Party Dealer”). Such Third Party Dealer shall be
jointly selected by the parties within one (1) Business Day after the Disputing Party’s exercise of its rights hereunder (once
selected, such Third Party Dealer shall be the “Substitute Calculation Agent”). If the parties are unable to agree
on a Substitute Calculation Agent within the prescribed time, each of the parties shall elect a Third Party Dealer and such two dealers
shall agree on a Third Party Dealer by the end of the subsequent Business Day. Such Third Party Dealer shall be deemed to be the
Substitute Calculation Agent. Any exercise by the Disputing Party of its rights hereunder must be in writing and shall be delivered
to the Calculation Agent not later than the third Business Day following the Business Day on which the Calculation Agent notifies
the Disputing Party of any determination made (or of the failure to make any determination). Any determination by the Substitute
Calculation Agent shall be binding in the absence of manifest error and shall be made as soon as possible but no later than the second
Business Day following the Substitute Calculation Agent’s appointment. The costs of such Substitute Calculation Agent shall
be borne by (a) the Disputing Party if the Substitute Calculation Agent substantially agrees with the Calculation Agent or (b) the
non- Disputing Party if the Substitute Calculation Agent does not substantially agree with the Calculation Agent. If, after following
the procedures and within the specified time frames set forth above, a binding determination is not achieved, the original determination
of the Calculation Agent shall apply.
Non-Reliance:
Applicable.
Agreements
and Acknowledgements Regarding Hedging Activities:
Applicable.
Additional
Acknowledgements:
Applicable.
Collateral
Provisions:
Grant
of Security Interest:
None.
Collateral:
None.
Securities
Account:
None.
Securities
Intermediary:
None.
Perfection:
None
Schedule
Provisions:
Specified
Entity:
In
relation to both Seller and Counterparty for the purpose of: Section 5(a)(v) [of the ISDA Form], Not Applicable Section 5(a)(vi)
[of the ISDA Form], Not Applicable Section 5(a)(vii) [of the ISDA Form], Not Applicable Section 5(b)(v) [of the ISDA Form], Not Applicable
Cross-Default
The
“Cross-Default” provisions of Section 5(a)(vi) of the ISDA Form will not apply to either party.
Credit
Event Upon Merger
The
“Credit Event Upon Merger” provisions of Section 5(b)(v) of the ISDA Form will not apply to either party.
Automatic
Early Termination:
The
“Automatic Early Termination” of Section 6(a) of the ISDA Form will not apply to either party.
Termination
Currency:
United
States Dollars.
Additional
Termination Event:
Will
apply to Seller and to Counterparty. The occurrence of any of the following events shall constitute an Additional Termination Event:
(a)
The Merger Agreement is terminated prior to the closing of the Business Combination; and
(b)
If it is, or, as a consequence of a change in law, regulation or interpretation, it becomes or will become, unlawful for the Seller
or Counterparty to perform any of its obligations contemplated by the Transaction; and
(c)
Upon the occurrence of any Material Adverse Change of the Counterparty.
Notwithstanding
the foregoing, Counterparty’s obligations set forth under the captions, “Reimbursement
of Legal Fees and Other Expenses,” and “Other Provisions — (d) Indemnification”
shall survive any termination due to the occurrence of either of the foregoing Additional
Termination Events. Upon any termination that occurs following the closing of the Business
Combination due to paragraph (b) or (c) above, Counterparty shall be obligated to promptly
accept for redemption all of Seller’s Recycled Shares in exchange for the Initial Price,
less any Prepayment Amount in respect of such Shares actually received. Except as set forth
in the immediately preceding sentence, in all other circumstances no further payments or
deliveries shall be due by either Seller to Counterparty or Counterparty to Seller in respect
of the Transaction, including without limitation in respect of any settlement amount, breakage
costs or any amounts representing the future value of the Transaction, and neither party
shall have any further obligation under the Transaction and, for the avoidance of doubt and
without limitation, no payments will have accrued or be due under Sections 2, 6 or 11 of
the ISDA Form.
Material
Adverse Change:
Means
any change, event, or occurrence, that, individually or when aggregated with other changes, events, or occurrences has had a materially
adverse effect on the business, assets, financial condition or results of operations of the Counterparty and its subsidiaries, taken
as a whole; provided, however, that no change, event, occurrence or effect arising out of or related to any of the following, alone
or in combination, shall be taken into account in determining whether a Material Adverse Change pursuant has occurred: (i) acts of
war (whether or not declared), sabotage, military or para-military actions or terrorism, or any escalation or worsening of any such
acts, or changes in global, national or regional political or social conditions; (ii) earthquakes, hurricanes, tornados, epidemics
and pandemics declared by the World Health Organization or any other reputable third party organization (including the COVID-19 virus)
or other natural or man-made disasters; (iii) changes attributable to the public announcement or pendency of the transactions contemplated
herein (including the impact thereof on relationships with customers, suppliers, employees or governmental authorities); (iv) changes
or proposed changes in law, regulations or interpretations thereof or decisions by courts or any governmental authority; (v) changes
or proposed changes in GAAP (or any interpretation thereof); (vi) any downturn in general economic conditions, including changes
in the credit, debt, securities, financial, capital or reinsurance markets (including changes in interest or exchange rates or the
price of any security, market index or commodity), in each case, in the United States or anywhere else in the world; (vii) events
or conditions generally affecting the industries and markets in which the Counterparty operates; (viii) any failure to meet any projections,
forecasts, estimates, budgets or financial or operating predictions of revenue, earnings, cash flow or cash position, provided that
this clause (viii) shall not prevent a determination that any change, event, or occurrence underlying such failure (unless otherwise
excluded by the other clauses of this proviso) has resulted in a Material Adverse Change; or (ix) any actions expressly required
to be taken, or expressly required not to be taken, pursuant to the terms hereof; provided, however, that if a change or effect related
to clause (ii) or clauses (iv) through (vii) disproportionately adversely affects the Counterparty and its subsidiaries, taken as
a whole, compared to other Persons operating in the same industry as the Counterparty, then such incremental disproportionate impact
may be taken into account in determining whether a Material Adverse Change has occurred.
Governing
Law:
New
York law (without reference to choice of law doctrine).
Credit
Support Document:
With
respect to Seller and Counterparty, None.
Credit
Support Provider:
With
respect to Seller and Counterparty, None.
Local
Business Days:
Seller
specifies the following places for the purposes of the definition of Local Business Day as it applies to it: New York.
Counterparty
specifies the following places for the purposes of the definition of Local Business Day as it applies to it: New York.
Representations,
Warranties and Covenants
1.
Each
of Counterparty and Seller represents and warrants to, and covenants and agrees with, the other as of the date on which it enters
into the Transaction that (in the absence of any written agreement between the parties that expressly imposes affirmative obligations
to the contrary for the Transaction):
(a)
Non-Reliance.
It is acting for its own account, and it has made its own independent decisions to enter into the Transaction and as to whether
the Transaction is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary.
It is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter
into the Transaction, it being understood that information and explanations related to the terms and conditions of the Transaction
will not be considered investment advice or a recommendation to enter into the Transaction. No communication (written or oral) received
from the other party will be deemed to be an assurance or guarantee as to the expected results of the Transaction.
(b)
Assessment
and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional
advice), and understands and accepts, the terms, conditions and risks of the Transaction. It is also capable of assuming, and assumes,
the risks of the Transaction.
(c)
Non-Public
Information. It is in compliance with Section 10(b) under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”).
(d)
Eligible
Contract Participant. It is an “eligible contract participant” under, and as defined in, the Commodity Exchange
Act (7 U.S.C. § 1a(18)) and CFTC regulations (17 CFR § 1.3).
(e)
Tax
Characterization. It shall treat the Transaction as a derivative financial contract for U.S. federal income tax purposes,
and it shall not take any action or tax return filing position contrary to this characterization.
(f)
Private
Placement. It (i) is an “accredited investor” as such term is defined in Regulation D as promulgated under the
Securities Act, (ii) is entering into the Transaction for its own account without a view to the distribution or resale thereof and
(iii) understands that the assignment, transfer or other disposition of the Transaction has not been and will not be registered under
the Securities Act.
(g)
Investment
Company Act. It is not and, after giving effect to the Transaction, will not be required to register as an “investment
company” under, and as such term is defined in, the Investment Company Act of 1940, as amended.
(h)
Authorization.
The Transaction has been entered into pursuant to authority granted by its board of directors or other governing authority. It
has no internal policy, whether written or oral, that would prohibit it from entering into any aspect of the Transaction, including,
but not limited to, the purchase of Shares to be made in connection therewith.
(i)
Affiliate
Status. It is the intention of the parties hereto that Seller shall not be an “affiliate”
(as such term is defined in Rule 405 under the Securities Act) of the Counterparty, including
Target following the closing of the Business Combination, as a result of the transactions
contemplated hereunder
(j)
Tender
Offer Rules. Counterparty, Target and Seller each acknowledge that the Transaction has been structured, and all activity
in connection with the Transaction has been undertaken to comply with the requirements of all tender offer regulations applicable
to the Business Combination, including Rule 14e-5 under the Exchange Act.
(k)
Enforceability.
The Transaction, including the Confirmation, when executed and delivered by each of the parties, will constitute the valid and
legally binding obligation of each such party, enforceable against each of them in accordance with its terms, except (i) as limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application
affecting enforcement of creditors’ rights generally, or (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies.
(l)
Compliance
with Other Instruments and Law. The execution, delivery and performance of this Transaction, including the Confirmation,
and the consummation of the Transaction, will not result in any violation or default (i) of any provisions of its organizational
documents, (ii) of any instrument, judgment, order, writ or decree to which it is a party or by which it is bound, (iii) under any
note, indenture or mortgage to which it is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase
order to which it is a party or by which it is bound or (v) of any provision of any applicable federal or state statute, rule or
regulation, in each case (other than clause (i)), which would have a material adverse effect on it or its ability to consummate the
Transaction.
2.
Counterparty
represents and warrants to, and covenants and agrees with Seller as of the date on which it enters into the Transaction that:
(a)
Non-Reliance.
Without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that Seller is not making
any representations or warranties or taking any position or expressing any view with respect to the treatment of the Transaction
under any accounting standards.
(b)
Solvency.
Counterparty is, and shall be as of the date of any payment or delivery by Counterparty under the Transaction, solvent and able to
pay its debts as they come due, with assets having a fair value greater than liabilities and with capital sufficient to carry on
the businesses in which it engages. Counterparty: (i) has not engaged in and will not engage in any business or transaction after
which the property remaining with it will be unreasonably small in relation to its business, (ii) has not incurred and does not intend
to incur debts beyond its ability to pay as they mature, and (iii) as a result of entering into and performing its obligations under
the Transaction, (a) it has not violated and will not violate any relevant state law provision applicable to the acquisition or redemption
by an issuer of its own securities and (b) it would not be nor would it be rendered “insolvent” (as such term is defined
under Section 101(32) of the Bankruptcy Code).
(c)
Public
Reports. As of the Trade Date, Counterparty is in material compliance with its reporting obligations under the Exchange Act,
and all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant to the Exchange Act,
when considered as a whole (with the most recent such reports and documents deemed to amend inconsistent statements contained in
any earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of a material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading.
(d)
No
Distribution. Counterparty is not entering into the Transaction to facilitate a distribution of the Shares (or any security
that may be converted into or exercised or exchanged for Shares, or whose value under its terms may in whole or in significant part
be determined by the value of the Shares) or in connection with any future issuance of securities.
(e)
[Reserved.]
(f)
Waiver.
The Counterparty shall waive any violation of its “bulldog clause” and any other restrictions that would be caused by
Seller entering into this Transaction.
(g)
Disclosure.
The Counterparty agrees to comply with applicable SEC guidance in respect of disclosure and
the Counterparty shall preview with Seller all public disclosure relating to the Transaction
and shall consult with Seller to ensure that such public disclosure, including the press
release, Form 8-K or other filing that announces the Transaction adequately discloses the
material terms and conditions of the Transaction in form and substance reasonably acceptable
to Seller; provided that the Form 8-K shall be publicly filed on the same date that definitive
transaction documents are signed
(h)
Regulation
M and Target Approvals. Counterparty is not on the Trade Date and agrees and covenants
that it will not be on any date Seller is purchasing shares that may be included in a Pricing
Date Notice, engaged or engaging in a distribution, as such term is used in Regulation M
under the Exchange Act, of any securities of Counterparty, other than a distribution meeting
the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation
M. Counterparty shall not, until the second scheduled trading day immediately following the
dates referenced in the preceding sentence, engage in any such distribution. Counterparty,
including Target, also agrees and covenants that the Merger Agreement shall be executed and
all required approvals and consents of the Target security holders in connection with the
Business Combination shall be obtained and any subsequent valuation periods as contemplated
under Regulation M under the Exchange Act, shall be completed in each case no later than
Counterparty’s redemption deadline.
(i)
No
conflicts. The execution and delivery by the Counterparty and Target of, and the performance by the Counterparty and the
Target of its obligations under, the Transaction and the Confirmation and the consummation of the transactions contemplated by the
Confirmation, including the payments and share issuances hereunder, do not and will not result in any breach or violation of or constitute
a default under (nor constitute any event which, with notice, lapse of time or both, would result in any breach or violation of or
constitute a default under or give the holder of any indebtedness (or a person acting on such holder’s behalf) the right to
require the repurchase, redemption or repayment of all or a part of such indebtedness under) (or result in the creation or imposition
of a lien, charge or encumbrance on any property or assets of the Counterparty, the Target or any of their respective subsidiaries
pursuant to) (i) any provision of applicable law, (ii) the organizational documents of any of the Counterparty, the Target or any
of their respective subsidiaries, (iii) any indenture, mortgage, deed of trust, bank loan or credit agreement or other evidence of
indebtedness, or any license, lease, contract or other agreement or instrument binding upon the Counterparty, the Target or any of
their respective subsidiaries, or (iv) any judgment, order or decree of any governmental body, agency or court having jurisdiction
over the Counterparty, the Target or any of their respective subsidiaries, and no consent, approval, authorization or order of, or
qualification with, any governmental body or agency is required for the performance by the Counterparty or the Target of their respective
obligations under the Confirmation, except as have been obtained. In addition, the Counterparty and Target covenant and agree not
to enter into any agreement or other arrangement that would prohibit, restrict or otherwise prevent the Counterparty from performing
its obligations hereunder, including the making of any payment or Share issuance to the Seller.
3.
Seller
represents and warrants to, and covenants and agrees with Counterparty as of the date on which it enters into the Transaction and
each other date specified that:
(a)
Regulatory
Filings. It, together with each other person in the Seller Group (as defined in “Other Provisions” below), is
in compliance with all material regulatory filings relating to the Counterparty and the Transaction. Seller covenants that it will
make all regulatory filings that it is required by law or regulation to make with respect to the Transaction including, without limitation,
as may be required by Section 13 or Section 16 under the Exchange Act.
(b)
Shareholder
Vote. Seller agrees to not vote any Shares it holds as of the applicable record date in connection with the Business Combination
at any meeting of the Counterparty’s shareholders (or to provide a written consent for that purpose with respect to such Shares)
if it would be in violation of Interpretation 166.01 to do so.
(c)
Private
Placement. Seller (i) is an “accredited investor” as such term is defined in Regulation D as promulgated under
the Securities Act, (ii) is entering into the Transaction for its own account without a view to the distribution or resale thereof
and (iii) understands that the assignment, transfer or other disposition of the Transaction has not been and will not be registered
under the Securities Act.
Transactions
by Seller in the Shares
Seller
hereby waives the redemption rights (“Redemption Rights”) set forth in Counterparty’s memorandum and articles
of association in connection with the Business Combination with respect to the Public Shares save for any redemption following the Additional
Termination Events set out in (c) and (d) in the Additional Termination Event section above. Unless specified in an OET Notice, no sale
of Shares by the Seller shall terminate all or any portion of this Confirmation and provided that Seller complies with all of its other
obligations hereunder nothing contained herein shall limit any of Seller’s purchases and sale of Shares
No
Arrangements
Seller
and Counterparty each acknowledge and agree that: (i) there are no voting, hedging or settlement arrangements between Seller and Counterparty
with respect to any Shares, other than those set forth herein; (ii) Counterparty will not be entitled to any voting rights in respect
of any of the Shares underlying the Transaction; and (iii) Counterparty will not seek to influence Seller with respect to the voting
of any Hedge Positions of Seller consisting of Shares.
Wall
Street Transparency and Accountability Act
In
connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties
hereby agree that neither the enactment of WSTAA or any regulation under WSTAA, nor any requirement under WSTAA or an amendment made
by WSTAA, nor any similar legal certainty provision in any legislation enacted, or rule or regulation promulgated, on or after the date
of this Confirmation, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify,
amend or supplement this Confirmation or the ISDA Form, as applicable, arising from a termination event, force majeure, illegality, increased
costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the ISDA Form.
Address
for Notices
Notice
to Seller:
Harraden
Circle Investments LLC
885
Third Avenue , Suite 2600B
New
York, NY 10022
Attention:
Frederick V. Fortmiller, Jr.
Email:
research@harraden.com
With
a mandatory copy (which shall not constitute notice) to:
Loeb
& Loeb LLP
345
Park Avenue
New
York, NY 10154
Attn:
Giovanni Caruso
Telephone
No.: (212) 407-4866
Email:
gcaruso@loeb.com
Notice
to Counterparty:
Calisa
Acquisition Corp
205
W. 37th Street
New
York, New York 10018
Attention:
Hongfei Zhang
Email:
hongfei.zhang@calisaspac.com
with
copies (which shall not constitute notice) to:
Graubard
Miller
The
Chrysler Building
405
Lexington Avenue
New
York, NY 10174
Attention:
Jeffrey M. Gallant, David Alan Miller
Email:
jgallant@graubard.com, dmiller@graubard.com
Notice
to Target:
Goodvision
AI Inc.
4430
Bush Cir
Fremont,
CA 94538
Attention:
Davy Wong
Email:
davy@goodvision.tech
with
copies (which shall not constitute notice) to:
VCL
Law LLP
1945
Old Gallows Road, Suite 260
Vienna,
VA 22182
Attention:
Fang Liu, Zixuan Guo
Email:
fliu@vcllegal.com, zguo@vcllegal.com
Other
Provisions.
(a)
Rule
10b5-1.
(i)
Counterparty
represents and warrants to Seller that Counterparty is not entering into the Transaction to create actual or apparent trading activity
in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the
price of the Shares (or any security convertible into or exchangeable for the Shares) for the purpose of inducing the purchase or
sale of such securities or otherwise in violation of the Exchange Act, and Counterparty represents and warrants to Seller that Counterparty
has not entered into or altered, and agrees that Counterparty will not enter into or alter, any corresponding or hedging transaction
or position with respect to the Shares. Counterparty acknowledges that it is the intent of the parties that the Transaction comply
with the requirements of paragraphs (c)(1)(i)(A) and (B) of Rule 10b5-1 under the Exchange Act (“Rule 10b5-1”)
and the Transaction shall be interpreted to comply with the requirements of Rule 10b5-1(c).
(ii)
Counterparty
agrees that it will not seek to control or influence Seller’s decision to make any “purchases or sales” (within
the meaning of Rule 10b5-1(c)(1)(i)(B)(3)) under the Transaction, including, without limitation, Seller’s decision to enter
into any hedging transactions. Counterparty represents and warrants that it has consulted with its own advisors as to the legal aspects
of its adoption and implementation of this Confirmation and the Transaction under Rule 10b5-1.
(iii)
Counterparty
acknowledges and agrees that any amendment, modification, waiver or termination of this Confirmation must be effected in accordance
with the requirements for the amendment or termination of a “plan” as defined in Rule 10b5-1(c). Without limiting the
generality of the foregoing, Counterparty acknowledges and agrees that any such amendment, modification, waiver or termination shall
be made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5, and no such amendment, modification
or waiver shall be made at any time at which Counterparty, or any officer, director, manager or similar person of Counterparty is
aware of any material non-public information regarding Counterparty or the Shares.
(b)
[Reserved.]
(c)
Transfer
or Assignment. The rights and duties under this Confirmation may not be transferred or assigned by any party hereto without
the prior written consent of the other party, such consent not to be unreasonably withheld, subject to the immediately following
sentence. If at any time following the closing of the Business Combination at which (A) the Section 16 Percentage exceeds 9.9%, or
(B) the Share Amount exceeds the Applicable Share Limit (if any applies) (any such condition described in clause (A) or (B), an “Excess
Ownership Position”), Seller is unable to effect a transfer or assignment of a portion of the Transaction to a third party
on pricing terms reasonably acceptable to Seller and within a time period reasonably acceptable to Seller such that no Excess Ownership
Position exists, then Seller may designate any Exchange Business Day as an Early Termination Date with respect to a portion of the
Transaction (the “Terminated Portion”), such that following such partial termination no Excess Ownership Position
exists. In the event that Seller so designates an Early Termination Date with respect to a portion of the Transaction, a portion
of the Shares with respect to the Transaction shall be delivered to Counterparty and Counterparty shall be obligated to promptly
accept for redemption all of Seller’s Shares in exchange for the Initial Price. The “Section 16 Percentage”
as of any day is the fraction, expressed as a percentage, as determined by Seller, (A) the numerator of which is the number of Shares
that Seller and each person subject to aggregation of Shares with Seller under Section 13 or Section 16 of the Exchange Act and rules
promulgated thereunder and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) of the Exchange
Act) with Seller directly or indirectly beneficially own (as defined under Section 13 or Section 16 of the Exchange Act and rules
promulgated thereunder) (the “Seller Group” ) and (B) the denominator of which is the number of Shares outstanding.
The
“Share Amount” as of any day is the number of Shares that Seller and any person whose ownership position would be
aggregated with that of Seller and any group (however designated) of which Seller is a member (Seller or any such person or group, a
“Seller Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Counterparty
that are, in each case, applicable to ownership of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively
owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined
by Seller in its sole discretion.
The
“Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that could give rise to
reporting or registration obligations or other requirements under Section 16 of the Exchange Act including obtaining prior approval from
any person or entity) of a Seller Person, or could result in an adverse effect on a Seller Person, under any Applicable Restriction,
as determined by Seller in its sole discretion, minus (B) 0.1% of the number of Shares outstanding.
(d)
Indemnification.
Counterparty agrees to indemnify and hold harmless Seller, its affiliates and its assignees and their respective directors, officers,
employees, agents and controlling persons (each such person being an “Indemnified Party”) from and against any
and all losses (but not including financial losses to an Indemnified Party relating to the economic terms of the Transaction provided
that the Counterparty performs its obligations under this Confirmation in accordance with its terms), claims, damages and liabilities
(or actions in respect thereof), joint or several, incurred by or asserted against such Indemnified Party arising out of, in connection
with, or relating to, the execution or delivery of this Confirmation, the performance by Counterparty of its obligations under the
Transaction, any breach of any covenant or representation made by Counterparty in this Confirmation or the ISDA Form, regulatory
filings made by Counterparty related to the Transaction (other than as relates to any information provided by or on behalf of Seller
or its affiliates), or the consummation of the transactions contemplated hereby; provided, however, that Counterparty has no indemnification
obligations with respect to any loss, claim, damage, liability or expense related to the manner in which Seller sells, or arising
out of any sales by Seller of, any Shares owned by Seller. Counterparty will not be liable under the foregoing indemnification provision
to the extent that any loss, claim, damage, liability or expense is found in a nonappealable judgment by a court of competent jurisdiction
to have resulted from Seller’s material breach of any covenant, representation or other obligation in this Confirmation or
the ISDA Form or from Seller’s willful misconduct, gross negligence or bad faith in performing the services that are subject
of the Transaction. If for any reason the foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold
harmless any Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount paid or
payable by the Indemnified Party as a result of such loss, claim, damage or liability. In addition (and in addition to any other
Reimbursement of Legal Fees and other Expenses contemplated by this Confirmation), Counterparty will reimburse any Indemnified Party
for all reasonable, out-of-pocket, expenses (including reasonable counsel fees and expenses) as they are incurred in connection with
the investigation of, preparation for or defense or settlement of any pending or threatened claim or any action, suit or proceeding
arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such claim, action, suit or proceeding
is initiated or brought by or on behalf of Counterparty. Counterparty also agrees that no Indemnified Party shall have any liability
to Counterparty or any person asserting claims on behalf of or in right of Counterparty in connection with or as a result of any
matter referred to in this Confirmation except to the extent that any losses, claims, damages, liabilities or expenses incurred by
Counterparty result from such Indemnified Party’s breach of any covenant, representation or other obligation in this Confirmation
or the ISDA Form or from the gross negligence, willful misconduct or bad faith of the Indemnified Party or breach of any U.S. federal
or state securities laws or the rules, regulations or applicable interpretations of the Securities and Exchange Commission. The provisions
of this paragraph shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and/or delegation
of the Transaction made pursuant to the ISDA Form or this Confirmation shall inure to the benefit of any permitted assignee of Seller.
(e)
Amendments
to Equity Definitions.
(i)
Section
11.2(a) of the Equity Definitions is hereby amended by (i) replacing the words “a diluting or concentrative” with the
word “an” and adding the phrase “or such Transaction” at the end thereof;
(ii)
The
first sentence of Section 11.2(c) of the Equity Definitions, prior to clause (A) thereof, is hereby amended to read as follows: ‘(c)
If “Calculation Agent Adjustment” is specified as the Method of Adjustment in the related Confirmation of a Share Option
Transaction or Share Forward Transaction, then, following the announcement or occurrence of any Potential Adjustment Event, the Calculation
Agent will determine whether such Potential Adjustment Event has an economic effect on the Transaction and, if so, will (i) make
appropriate adjustment(s), if any, to any one or more of:’ and the portion of such sentence immediately preceding clause (ii)
thereof is hereby amended by deleting the words “diluting or concentrative”.
(iii)
Section
11.2(e)(vii) of the Equity Definitions is hereby amended by (i) replacing the words “a diluting or concentrative” with
the word “an” and (ii) adding the phrase “or the relevant Transaction” at the end thereof;
(iv)
Section
12.6(a)(ii) of the Equity Definitions is hereby amended by (i) deleting from the fourth line thereof the word “or” after
the word “official” and inserting a comma therefor, and (ii) deleting the semi-colon at the end of subsection (B) thereof
and inserting the following words therefor “or (C) the occurrence of any of the events specified in Section 5(a)(vii)(1) through
(9) of the ISDA Form with respect to that Issuer”;
(v)
Section
12.6(c)(ii) of the Equity Definitions is hereby amended by replacing the words “the Transaction will be cancelled,” in
the first line with the words “Seller will have the right, which it must exercise or refrain from exercising, as applicable,
in good faith acting in a commercially reasonable manner, to cancel the Transaction,”; and
(vi)
Section
12.9(b)(i) of the Equity Definitions is hereby amended by (i) replacing “either party may elect” with “Seller may
elect” and (ii) replacing “notice to the other party” with “notice to Counterparty” in the first sentence
of such section.
(f)
Waiver
of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by
jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies that no representative, agent
or attorney of either party has represented, expressly or otherwise, that such other party would not, in the event of such a suit,
action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to
enter into the Transaction, as applicable, by, among other things, the mutual waivers and certifications provided herein.
(g)
Attorney
and Other Fees. In the event of any legal action initiated by any party arising under or out of, in connection with or in
respect of, this Confirmation or the Transaction, the prevailing party shall be entitled to reasonable attorneys’ fees, costs
and expenses incurred in such action, as determined and fixed by the court.
(h)
Tax
Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its
employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment
and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to
Counterparty relating to such tax treatment and tax structure.
(i)
Securities
Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to be (a) a “securities contract”
as defined in the Bankruptcy Code, in which case each payment and delivery made pursuant to the Transaction is a “termination
value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy
Code and a “settlement payment,” within the meaning of Section 546 of the Bankruptcy Code, and (b) a “swap agreement”
as defined in the Bankruptcy Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination
value,” “payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy
Code and a “transfer,” as such term is defined in Section 101(54) of the Bankruptcy Code and a “payment or other
transfer of property” within the meaning of Sections 362 and 546 of the Bankruptcy Code, and the parties hereto to be entitled
to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy
Code, (ii) a party’s right to liquidate, terminate and accelerate the Transaction and to exercise any other remedies upon the
occurrence of any Event of Default under the ISDA Form with respect to the other party to constitute a “contractual right”
as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to otherwise
constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy
Code.
(i)
Process
Agent. For the purposes of Section 13(c) of the ISDA Form:
Seller
appoints as its Process Agent: None
Counterparty
appoints as its Process Agent: None.
[Signature
page follows]
Please
confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this Confirmation and returning it
to us at your earliest convenience.
Very
truly yours,
By:
/s/
Frederick V. Fortmiller
Name:
Frederick
V. Fortmiller
Title:
Authorized
Signatory
Agreed
and accepted by:
Calisa
Acquisition Corp.
By:
/s/
Hongfei Zhang
Name:
Hongfei
Zhang
Title:
Chairman
Goodvision
AI Inc.
By:
/s/
Yi Wang
Name:
Yi
Wang
Title:
CEO
SCHEDULE
A
FORM
OF PRICING DATE NOTICE
Date:
September
[*], 2026
To:
Calisa
Acquisition Corp, a Cayman Islands exempted company (“Counterparty”)
Address:
Phone:
From:
Harraden
Circle Investors, LP, Harraden Circle Special Opportunities, LP, Harraden Circle Strategic Investments, LP (collectively “Seller”)
Re:
OTC
Equity Prepaid Forward Transaction
1.
This
Pricing Date Notice supplements, forms part of, and is subject to the Confirmation Re: Prepaid Share Forward Transaction, dated as
of August [*], 2026 (the “Confirmation”), between Counterparty and Seller, as amended and supplemented from time
to time. All provisions contained in the Confirmation govern this Pricing Date Notice except as expressly modified below.
2.
The
purpose of this Pricing Date Notice is to confirm certain terms and conditions relating to the transaction described in the Confirmation.
Pricing
Date: September [*], 2026
Number
of Recycled Shares: [ ]
Number
of Shares: [____]
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