Exhibit
10.16


 


Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) the type that the registrant treats as private or confidential.


 


15
April 2021


 


CHOO
CHEE KONG


[*****]


 


Dear
Sir,


 


PUT
OPTION AGREEMENT


 


		1.	We
                                            refer to the Subscription Agreement dated 15 April 2021 (the “Subscription Agreement”)
                                            entered between MDR Limited (the “Subscriber”) and CytoMed Therapeutics
                                            pte Ltd (the “Company”) under which the Subscriber has subscribed for
                                            271,083,221 Subscription Shares at the Subscription Price of S$0.0055333561 per Subscription
                                            Share, for the total Subscription Funds of S$1,500,000 (Singapore Dollars One Million and
                                            Five Hundred Thousand), and the discussions between the Subscriber and CHOO CHEE KONG
                                            (Singapore NRIC No. [*****] (“CCK”).



 


		2.	Unless
                                            otherwise defined in this agreement (the “Agreement”) or unless the context
                                            otherwise requires, terms and expressions used in this Agreement shall have the same meaning
                                            as respectively ascribed to them in the Subscription Agreement.



 


		3.	As
                                            mutually agreed, at any time until [*****] the Subscriber shall have the right and option
                                            (the “Put Option”) to elect to require CCK to purchase and acquire 180,722,148
                                            shares from the Subscriber (the “Put Shares”) in the Company at S$0.0055333561
                                            price per share (the “Put Price”) for the total consideration of S$1,000,000
                                            (Singapore Dollars One Million) by delivering written notice to CCK of such election, specifying
                                            the Subscriber’s intention to exercise the Put Option (the “Put Election Notice”).
                                            The closing of the sale and purchase of the Put Shares shall be completed within sixty
                                            (60) days following the date of receipt of the Put Election Notice.



 


		4.	This
                                            Agreement shall enure to the benefit of, and be binding on, the parties and their respective
                                            heirs, administrators, executors, successors, and permitted assigns.



 


		5.	This
                                            Agreement shall be governed by the laws of Singapore, and the parties irrevocably submit
                                            to the non-exclusive jurisdiction of the Singapore courts.



 


		6.	Nothing
                                            in this Agreement is intended to grant to any third party any right to enforce any term of
                                            this Agreement or to confer on any third party any benefits under this Agreement for the
                                            purposes of the Contract (Rights of Third Parties) Act (Cap. 538) of Singapore and any reenactment
                                            thereof, the application of which legislation is hereby expressly excluded.



 


		7.	This
                                            Agreement may be executed in several counterparts, and each executed counterpart shall constitute
                                            an original instrument, but all such counterparts shall constitute one and the same instrument.



 


		8.	Please
                                            confirm your agreement by signing and returning the Confirmation and Acceptance below.



 


	Yours
    sincerely,	 
	 	 
	/s/
    Authorized Signatory	 
	 	 
	Director	 
	For and on behalf of MDR LIMITED	 


 




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CONFIRMATION
AND ACCEPTANCE


 


To: MDR
LIMITED


 


I,
CHOO CHEE KONG (NRIC No. [*****]), hereby confirm and accept all the terms and conditions set out in this Agreement dated 15 April
2021.


 


	/s/
    Choo Chee Kong	 


 




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