Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 28

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 BEN CARL SMET), an individual, with principal residence
address in Schindellegi-Feusisberg, Switzerland (hereinafter referred as the “Consultant” and PHI GROUP INC. (/n/k/a PHILUX
GLOBAL GROUP INC.), a corporation duly organized under the laws of the state of Nevada, and re-domiciled under the laws of the State
of Wyoming U.S.A., with registered principal business address at N 30 Gould Street, Suite R, Sheridan, WY 82801, represented by Mr. Henry
D. Fahman, its Chairman and Chief Executive Officer, hereinafter referred to as “PGG or “the Registrant,” signed the
Combined Addendum No. 1 (the “Addendum”) to the Business Development and Structuring Consultancy Agreement dated June 27,
2024 and the Business Development and Structuring Consultancy Agreement for the Development and Establishment of an International Financial
Center in Vietnam dated July 5, 2024 and agreed to undertake the followings:

    F-16

In
consideration for the Consultant’s continued commitment to assist the Company and provide the necessary services as defined in
the above mentioned (1) Business Development and Structuring Consultancy Agreement for establishing of a compartmentalized regulated/unregulated
Luxembourg Bank Fund (RAIF) and establishing of the Asian Diamond Exchange for rough and polished diamond trade and the reconsolidating
of the lab-grown diamond industry in Vietnam and (2) the Business Development and Structuring Consultancy Agreement for the development
and Establishment of an International Financial Center also in Vietnam, until these projects are successfully completed, both parties
agree that the Company shall pay the Consultant an additional amount of Twenty-Five Million U.S. Dollars (USD 25,000,000) for the services
mentioned in the above-mentioned Agreements. A schedule of payments shall be mutually agreed upon by both Parties by a separate agreement.

The
foregoing description of the nature and essential points of the afore-mentioned Combined Addendum No. 1 to the Business Development and
Structuring Consultancy Agreement dated June 27, 2024 and the Business Development and Structuring Consultancy Agreement for the Development
and Establishment of an International Financial Center in Vietnam dated July 5, 2024 between Dr. D’ORLEANS DE FRANCE BENEDICT CARL
WILLIAM (f/k/a BEN CARL SMET) and PHI Group, Inc. (n