Company: PHIL
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001493152-25-007556
Chunk: 71

Company: PHI GROUP INC
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 date and after the Free Economic Zone on Thanh Da Island, Ho Chi Minh City, subject to satisfaction of mutual and financial
obligations by both Parties.

Once
the Company has effectuated all budgeting and all financial requirements and obligations, the ongoing process will effectively materialize,
and the Consultant then shall transfer the entire IFC venture to the Company.

Both
parties agree that the Company shall pay the Consultant a total of Fifteen Million U.S. Dollars (USD 15,000,000) for the services that
have been rendered and those to be rendered as set forth above in order to complete the structuring, design and implementation of the
IFC project. The schedule of compensation payments shall be mutually agreed upon by both parties by private agreement.

10.
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

On
November 07, 2024, Dr. D’ORLEANS DE FRANCE BENEDICT CARL WILLIAM (f/k/a 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