Exhibit 10.4


 


THIS AGREEMENT is made on the 30th day
of July 2020


 


BETWEEN:-


 


		(1)	GLOBALENGINE CORPORATION LIMITED , a limited liability
company incorporated in Hong Kong whose registered office is at Room A, 8/F, Reason Group Tower, 403 Castle Peak Road, Kwai Chung, New
Territories, Hong Kong (the “GECL”);



 


AND


 


		(2)	GLOBAL ENGINE LIMITED, a limited liability company incorporated
in Hong Kong whose registered office is at Room A, 8/F, Reason Group Tower, 403 Castle Peak Road, Kwai Chung, New Territories, Hong Kong
(the “GEL”).



 


 WHEREAS:




 


GECL agrees to engage GEL and GEL agrees to provide
to GECL the services as described in Schedule 1 (the “Services”), subject to the terms and conditions set out in this Agreement.


 


NOW IT IS HEREBY
AGREED as follows:


 


		1.	DEFINITIONS



 


		1.1	In this Agreement, unless explicitly stated as otherwise,
the expressions listed below shall have the following meanings:



 


		(a)	“Fees” means the fees as specified in Schedule
1 payable by GECL from time to time to GEL for provision of the Services;



 


		(b)	“HKIAC” is as defined in Clause 15.2;



 


		(c)	“Services” means the services as detailed in Schedule
1; and



 


		(d)	“Term” means the term as specified in Schedule
1;



 


		1.2	Where the context permits, words in the singular shall include
the plural and vice versa and words importing the masculine gender shall include the feminine and neuter genders and vice versa.



 


		1.3	The headings to the provisions of this Agreement are for
ease of reference only and shall not affect the interpretation or construction of them.



 


		1.4	References to clauses, schedules and annexes are, unless
otherwise stated, to clauses, schedules and annexes of and to this Agreement which together form an integral part of this Agreement.



 


		2.	PROVISION OF SERVICES



 


		2.1	In consideration of GECL paying the Fees to GEL in the manner
described in Clause 3, GEL agrees to provide the Services to GECL subject to the terms and conditions herein and in Schedule 1.



 


		2.2	GECL and GEL shall cooperate in good faith in all matters relating to the provision of Services including
but not limited to obtaining all consents, licences or approvals necessary for GEL to fulfil its obligations hereunder.



 






     


     


    

 


		2.3	GECL shall respect independent performance of the Services by GEL and shall communicate with GEL for any
suggestions and GEL may assign, subcontract or delegate any rights, duties, obligations or liabilities under this Agreement to any third
parties with the consent of GECL.



 


		2.4	GEL shall be entitled to deploy resources of all forms or manners as necessary for the performance of
the Services under this Agreement. GECL is required to provide all necessary actions and assistance, including but not limited to furnishing
documents, preparing & signing agreements & documents, providing confirmation, acceptance & endorsement of all relevant matters,
to be performed and completed by GECL within a reasonable period of time as requested by GEL for GEL to fulfil its obligations under this
Agreement.



 


		2.5	The asset tracking system shall be subjected to acceptance tests in accordance with the implementation
plan as reasonably required by GECL. As soon as reasonably possible after the satisfactory completion of the acceptance tests, GECL shall
provide a written notification to certify that the system deployment has passed the Acceptance Tests. Satisfactory completion of the acceptance
tests shall occur when the cloud platform deployment achieves the acceptance tests.



 


		3.	PAYMENT



 


		3.1	GECL shall pay the Fees to GEL for provision of the Services in the manner set out in Schedule 1. GEL
shall not be responsible for all unforeseeable costs, tax, charges, and expenses incurred for and in connection with the provision of
the Services by GEL except as expressly provided otherwise in this Agreement or approved in advance in writing by GEL.



 


		3.2	All payment shall be made within fourteen (14) days from the date of invoices issued by GEL to GECL.



 


		3.3	Any delay in payment shall entitle GEL for the costs and expenses incurred in connection with the collection
of overdue payments, whether made in or out of court, without prejudice to any rights or remedies legally available to GEL.



 


		4.	TERMINATION



 


		4.1	This Agreement shall terminate upon the expiry of the Term specified in Schedule 1 unless extended by
mutual agreement by the parties in writing or terminated earlier pursuant to the terms of this Agreement.



 


		4.2	This Agreement may be terminated by either party with a 30 days’ notice without cause.



 


		4.3	The expiration or termination of this Agreement for whatever cause shall be without prejudice to any pre-existing
and/or accrued rights and obligations of the parties hereunder.



 


		4.4	Clauses 5, 6, 7, 10, 11, 12, 13 and 15 and those terms which by their nature should survive termination
shall continue to apply after expiration or termination of this Agreement for whatever reason.



 






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		5.	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS



 


		5.1	Each party represents and warrants that it has the authority
necessary to enter into this Agreement and to do all things necessary to procure the fulfilment
of its obligations in terms of this Agreement.



 


		5.2	GEL represents, warrants and undertakes that the services will be duly performed and completed in a diligent,
professional and business-like manner.



 


		6.	LIMITATION OF LIABILITY



 


NEITHER PARTY WILL BE LIABLE TO THE OTHER
PARTY OR TO ANY THIRD PARTY, FOR ANY INDIRECT, PUNITIVE, SPECIAL, INCIDENTAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES. THIS LIMITATION OF
LIABILITY WILL APPLY REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT OR TORT, INCLUDING NEGLIGENCE, OR FOR ANY LOSS OF REVENUE,
DATA, OR PROFITS, AND INDEPENDENT OF ANY FAILURE OF ESSENTIAL PURPOSE OF THE WARRANTIES AND REMEDIES PROVIDED HEREUNDER. THIS LIMITATION
OF LIABILITY WILL APPLY WHETHER OR NOT THE OTHER PARTY HAS BEEN APPRISED OF THE POSSIBILITY OF SUCH DAMAGES.


 


		7.	CONFIDENTIALITY



 


		7.1	The parties agree to keep and procure to be kept secret and confidential any and all written and/or oral
information of any kind relating to the terms of this Agreement and the business of the other party obtained from the other party pursuant
to this Agreement or prior to it and to disclose the same only to those of its employees or contractors directly involved with the services
and only to the extent necessary for each of them to perform his duties under this Agreement. The parties shall impose the above obligation
on these persons.



 


		7.2	The foregoing obligations shall not apply, however, to any part of such information which:



 


		a)	was already in the public domain or which becomes so through
no fault of the receiving party;



 


		b)	was already known to the receiving party prior to receipt
thereof; or



 


		c)	was disclosed to the receiving party by a third party owing
no duty of confidentiality towards the disclosing party in respect thereof.



 


		7.3	Subject to the provisions in Clause 7.2 above, these obligations of confidentiality shall survive the
expiration or termination of this Agreement.



 






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		8.	ASSIGNMENT



 


		8.1	Neither party shall assign or otherwise transfer its interest
in this Agreement or its rights and obligations hereunder whether in whole or in part without the prior written consent of the other,
except in circumstances of corporate succession by merger, consolidation, or other corporate reorganisation in relation to either party’s
business.



 


		9.	ENTIRE AGREEMENT



 


		9.1	The parties hereto declare that this Agreement comprises
the complete and exclusive agreement between them which supersedes all previous understandings, negotiations and proposals, whether oral
or in writing. In case of any inconsistency, conflict with or ambiguity of any terms and conditions which are incorporated by reference,
the terms and conditions of this Agreement shall prevail.



 


		9.2	Save as expressly provided, no alteration, modification,
amendment, waiver, consent or discharge shall be binding upon either party unless in writing and signed by both parties.



 


		10.	NOTICES



 


		10.1 	Any notice required to be given under this Agreement shall
be in writing and shall be sent to the address of the party as specified in this Agreement or such other address as that party shall
designate by notice given in accordance with the provisions of this Clause from time to time. Any such notice shall be delivered by hand
or by registered prepaid post and shall be deemed to have been served if delivered by hand upon signed receipt by the appointed representative
of either party for the time being or if by post 48 hours after the day of posting.



 


		11.	LEGAL RELATIONSHIP



 


		11.1 	Nothing herein shall create or imply any employment, principal-agent,
joint venture or partnership relationship between GECL on the one hand, and GEL on the other.



 


		11.2 	Either party acknowledges that it is not part of the other
party’s organisation and shall have no authority to commit or to bind the other party in any way in connection with the business,
affairs or otherwise of the other party.



 


		12.	SEVERABILITY



 


		12.1 	In the event that any provision contained in this Agreement
should, for any reason, be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision
of this Agreement. Instead this Agreement shall be construed as if such invalid or unenforceable provision had not been contained herein.



 


		13.	WAIVER



 


		13.1 	No failure or delay on the part of any party to exercise
any right, power or remedy under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise by a party
of any right, power or remedy. The rights, powers and remedies provided herein are cumulative and are not exclusive of any rights, powers
or remedies at law.



 






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		14.	CONTRACTS (RIGHTS OF THIRD PARTIES) ORDINANCE



 


		14.1 	The parties do not intend any term of this Agreement to be
enforceable by any person who is not a party to this Agreement pursuant to the Contracts (Rights of Third Parties) Ordinance (Cap 623),
and the parties agree that this Agreement shall be excluded from the application of the Contracts (Rights of Third Parties) Ordinance
(Cap 623).



 


		15.	APPLICABLE LAW AND DISPUTE RESOLUTION



 


		15.1 	This Agreement shall be governed by, construed and enforced
in accordance with the laws of Hong Kong SAR and the parties hereto agree to be subject to the non-exclusive jurisdiction of the courts
of Hong Kong SAR.



 


		15.2 	Notwithstanding Clause 15.1, a complaining party shall have
the option to refer any dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or invalidity
thereof, to arbitration in Hong Kong at the Hong Kong International Arbitration Centre (“HKIAC”) with three (3) arbitrators
in accordance with the HKIAC Rules in force. Each party shall select one (1) arbitrator and the two (2) arbitrators shall select the
third neutral arbitrator who shall be the Chairman of the arbitration panel. The language to be used in the arbitral proceedings shall
be English.



 


- END -


 




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IN WITNESS WHEREOF this Agreement has been executed
in accordance with the constitution of the respective party on the day and year first above written.


 


	SIGNED BY	)	 
	FOR AND ON BEHALF OF	)	 
	GLOBALENGINE CORPORATION	)	 
	LIMITED	)	 
	in the presence of:-	)	 
	 	)	 
	 	)	 
	 	)	 
	 	 	 
	SIGNED BY	)	 
	FOR AND ON BEHALF OF	)	 
	GLOBAL ENGINE LIMITED	)	 
	in the presence of:-	)	 
	 	)	 
	 	)	 
	 	)	 



 






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SCHEDULE 1


 


Part 1 - The Services


 


GEL shall provide the system development of the
asset tracking system to GECL with specification requirement in according to Part B of the Tech Offerings Agreement between GECL and Fusionex
Solutions Inc Sdn Bdn Bhd dated 30 July 2020.


 


The Part B of the Tech Offerings Agreement between
GECL and Fusionex Solutions Inc Sdn Bhd dated 30 July 2020 is attached in SCHEDULE 2.


 


GEL shall provide server colocation solution from
1 July 2020 to 31 December 2020 with 7 facility rental in full rack in Hong Kong, with 18 x 2 Power Outlets and 1.5 KVA Power Supply.


 


Part 2 – Term, Fees and Timeline


 


	1.	Term:	From date of this Agreement to 30 June 2021 (both days inclusive) unless terminated early pursuant to the terms and conditions of this Agreement.
	 	 	 
	2.	Fees:	
    GECL shall pay (i) the service development fees
    totalling US$340,140 and (ii) US$240,000 for the server colocation solution, with fees due for payment on presentation of our invoices,
    as the work progresses. For the avoidance of doubt, any services performed by GEL not within the specified scope of areas set out in Part
    1 of Schedule 1 to this Agreement shall incur extra fees and costs payable by GECL in the manner as determined by GEL.

     



 






    Sch 1-1


     


    

 


SCHEDULE 2


 


Scope of Work and Deliverables for Research and Development


 



 


Sch 2-1