Document:

lvdw_ex1018

 

 Exhibit 10.18

 

MANAGEMENT SERVICES AGREEMENT

 

This Management Services Agreement (this
"Agreement"), is made and entered as of December 29, 2020,
by and among Alset International Limited, a limited company formed
in the Republic of Singapore (the "Service
Provider") and LiquidValue
Development Inc., a Nevada corporation (the "Company").

 

WHEREAS,
the Company desires to retain the Service Provider to provide
certain consulting services upon the terms and conditions
hereinafter set forth, and the Service Provider is willing to
undertake such obligations; and

 

WHEREAS,
the Company has agreed to compensate the Service Provider for
certain services previously provided.

 

NOW,
THEREFORE, in consideration of the foregoing, the parties agree as
follows:

 

1. Appointment.
The Company hereby engages the Service Provider, and the Service
Provider hereby agrees, upon the terms and subject to the
conditions set forth herein, to provide, or cause any of its
Affiliates to provide, certain services to the Company, as
described in Section 3(a) hereof. For purposes of this Agreement, an
"Affiliate" of any specified person is a person that
directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, the
person specified.

 

2. Term.
The term of this Agreement (the "Term") shall be for an initial term expiring on
December 31, 2021; provided,
however,
that this Agreement and the Company's engagement of the Service
Provider hereunder may be terminated at any time following the date
hereof by either the Company or the Service Provider on Thirty (30)
days’ notice.

 

3. Duties
of the Service Provider.

 

(a) Services. The Service Provider or any of its
Affiliates shall provide the Company with such services related to
the development of the Black Oak and Ballenger Run real estate
projects near Houston, Texas and in Frederick, Maryland,
respectively, as the board of directors of the Company (the
"Board") may reasonably request from time to time,
including but not limited to advice regarding planning for the
construction, maintenance, sale, expansion, reorganization and
finance of such projects, and the development of future real estate
and related projects in the United States (collectively, the
"Services"). The Company shall use the Services of the
Service Provider or any of its Affiliates and the Service Provider
shall make itself or any of its Affiliates available for the
performance of the Services upon reasonable notice. The Service
Provider or any of its Affiliates, as applicable, shall perform the
Services at the times and places reasonably requested by the Board
to meet the needs and requirements of the Company, taking into
account other engagements that the Service Provider and its
Affiliates may have.

 

 

 

 

(b) Exclusions
from Services. Notwithstanding anything in the foregoing to the
contrary, the following services are specifically excluded from the
definition of "Services":

 

(i) accounting
services rendered to the Company or the Service Provider by an
independent accounting firm or accountant who is not an employee of
the Service Provider;

 

(ii) legal
services rendered to the Company or the Service Provider by an
independent law firm or attorney who is not an employee of the
Service Provider; and

 

(iii) actuarial
services rendered to the Company or the Service Provider by an
independent actuarial firm or actuary who is not an employee of the
Service Provider.

 

4. Compensation
and Reimbursement for Services. As
consideration payable to the Service Provider or any of its
Affiliates for providing the Services to the Company, the Company
shall pay to the Service Provider (i) a one-time fee in the amount
of Three Hundred and Sixty Thousand U.S. Dollars ($360,000) for
services rendered during the year ended December 31, 2020; and (ii)
a fee in an amount equal to Thirty Thousand U.S. Dollars ($30,000)
per month, or a pro rata portion of such fee for any part of a
month during which services may be provided, to be paid on the last
day of each month starting on January 31, 2021.

 

5. Disclaimer;
Limitation of Liability.

 

(a) Disclaimer.
The Service Provider makes no representations or warranties,
express or implied, in respect of the Services to be provided by it
hereunder.

 

(b) Limitation
of Liability. Neither the Service Provider nor any of its officers,
directors, managers, principals, stockholders, partners, members,
employees, agents, representatives, and Affiliates (each a
"Related
Party" and, collectively, the
"Related
Parties") shall be liable to
the Company or any of its Affiliates for any loss, liability,
damage, or expense arising out of or in connection with the
performance of any Services contemplated by this Agreement, unless
such loss, liability, damage, or expense shall be proven to result
directly from the willful misconduct of such person. In no event
will the Service Provider or any of its Related Parties be liable
to the Company for special, indirect, punitive, or consequential
damages, including, without limitation, loss of profits or lost
business, even if Service Provider has been advised of the
possibility of such damages. Under no circumstances will the
liability of Service Provider and Related Parties exceed, in the
aggregate, the fees actually paid to Service Provider
hereunder.

 

 

2

 

 

6. Indemnification.
The Company shall indemnify and hold harmless the Service Provider
and each of its Related Parties (each, an "Indemnified
Party") from and against any
and all losses, claims, actions, damages, and liabilities, joint or
several, to which such Indemnified Party may become subject under
any applicable statute, law, ordinance, regulation, rule, code,
order, constitution, treaty, common law, judgment, or decree, made
by any third party or otherwise, relating to or arising out of the
Services or other matters referred to in or contemplated by this
Agreement or the engagement of such Indemnified Party pursuant to,
and the performance by such Indemnified Party, of the Services or
other matters referred to or contemplated by this Agreement, and
the Company will reimburse any Indemnified Party for all costs and
expenses (including, without limitation, reasonable attorneys' fees
and expenses) as they are incurred in connection with the
investigation of, preparation for or defense of any pending or
threatening claim, or any action or proceeding arising therefrom,
whether or not such Indemnified Party is a party thereto. The
Company will not be liable under the foregoing indemnification
provision to the extent that any loss, claim, damage, liability,
cost, or expense is determined by a court, in a final judgment from
which no further appeal may be taken, to have resulted solely from
the willful misconduct of such Indemnified Party. The reimbursement
and indemnity obligations of the Company, under this Section
6
shall be in addition to any liability
which the Company may otherwise have, shall extend upon the same
terms and conditions to any Affiliate of the Service Provider and
any Related Party or controlling persons (if any), as the case may
be, of the Service Provider and any such Affiliate and shall be
binding upon and inure to the benefit of any successors, assigns,
heirs, and personal representatives of the Company, the Service
Provider, any such Affiliate, and any such Related Party or other
person. The provisions of this Section 6 shall survive the termination of this
Agreement.

 

7. Independent
Contractor. Nothing herein
shall be construed to create a joint venture or partnership between
the parties hereto or an employee/employer relationship. The
Service Provider shall be an independent contractor pursuant to
this Agreement. Neither party hereto shall have any express or
implied right or authority to assume or create any obligations on
behalf of or in the name of the other party or to bind the other
party to any contract, agreement, or undertaking with any third
party. Nothing in this Agreement shall be deemed or construed to
enlarge the fiduciary duties and responsibilities, if any, of the
Service Provider or any of its Related Parties, including without
limitation in any of their respective capacities as stockholder or
directors of the Company.

 

8. Permissible
Activities. Nothing herein
shall in any way preclude the Service Provider or its Affiliates or
their respective Related Parties from engaging in any business
activities or from performing services for its or their own account
or for the account of others, including, without limitation,
companies which may be in competition with the business conducted
by the Company and any of its Affiliates.

 

9. Notices.
All notices, requests, consents, claims, demands, waivers, and
other communications hereunder shall be in writing and shall be
deemed to have been given (a) when delivered by hand (with written
confirmation of receipt); (b) when received by the addressee if
sent by a nationally recognized overnight courier (receipt
requested); (c) on the date sent by facsimile or e-mail of a PDF
document (with confirmation of transmission) if sent during normal
business hours of the recipient, and on the next business day if
sent after normal business hours of the recipient; or (d) on the
third day after the date mailed, by certified or registered mail,
return receipt requested, postage prepaid. Such communications must
be sent to the respective parties at the addresses indicated below
(or at such other address for a party as shall be specified in a
notice given in accordance with this Section 9).

 

 

	

If to the Company:

	

LiquidValue Development Inc.

4800 Montgomery Lane, Suite 210

Bethesda, MD 20814

e-mail: Ronald@alsetinternational.com

Attention: Rongguo Wei

	
 

	
 

	

If to the Service Provider:

	

Alset International Limited

7 Temasek Boulevard #29-01B

Suntec Tower One

Singapore 038987

e-mail: Alan@alsetinternational.com

Attention: Lui Wai Leung Alan

 

10. Entire
Agreement. This Agreement
constitutes the sole and entire agreement of the parties to this
Agreement with respect to the subject matter contained herein, and
supersedes all prior and contemporaneous understandings and
agreements, both written and oral, with respect to such subject
matter.

 

11. Successor
and Assigns. This Agreement
shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns.
However, neither this Agreement nor any of the rights of the
parties hereunder may otherwise be transferred or assigned by any
party hereto. Any attempted transfer or assignment in violation of
this Section 11 shall
be void.

 

12. No
Third-Party Beneficiaries. This
Agreement is for the sole benefit of the parties hereto and their
respective successors and permitted assigns and nothing herein,
express or implied, is intended to or shall confer upon any other
person any legal or equitable right, benefit, or remedy of any
nature whatsoever, under or by reason of this
Agreement.

 

13. Headings.
The headings in this Agreement are for reference only and shall not
affect the interpretation of this Agreement.

 

14. Amendment
and Modification; Waiver. This
Agreement may only be amended, modified, or supplemented by an
agreement in writing signed by each party hereto. No waiver by any
party of any of the provisions hereof shall be effective unless
explicitly set forth in writing and signed by the party so waiving.
Except as otherwise set forth in this Agreement, no failure to
exercise, or delay in exercising, any rights, remedy, power, or
privilege arising from this Agreement shall operate or be construed
as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power, or privilege hereunder preclude any other
or further exercise thereof or the exercise of any other right,
remedy, power, or privilege.

 

15. Severability.
If any term or provision of this Agreement is invalid, illegal, or
unenforceable in any jurisdiction, such invalidity, illegality, or
unenforceability shall not affect any other term or provision of
this Agreement or invalidate or render unenforceable such term or
provision in any other jurisdiction. Upon such determination that
any term or other provision is invalid, illegal, or unenforceable,
the parties hereto shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable
manner.

 

 

3

 

16. Governing
Law; Submission to Jurisdiction. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of
Maryland without giving effect to any choice or conflict of law
provision or rule (whether of the State of Maryland or any other
jurisdiction) that would cause the application of Laws of any
jurisdiction other than those of the State of Maryland. Any legal
suit, action, or proceeding arising out of or based upon this
Agreement or the services contemplated hereby may be instituted in
the federal courts of the United States of America or the courts of
the State of Maryland in each case located in the city of Bethesda
and County of Montgomery, and each party irrevocably submits to the
exclusive jurisdiction of such courts in any such suit, action, or
proceeding. Service of process, summons, notice, or other document
by mail to such party's address set forth herein shall be effective
service of process for any suit, action, or other proceeding
brought in any such court. The parties irrevocably and
unconditionally waive any objection to the laying of venue of any
suit, action, or any proceeding in such courts and irrevocably
waive and agree not to plead or claim in any such court that any
such suit, action, or proceeding brought in any such court has been
brought in an inconvenient forum.

 

17. Waiver
of Jury Trial. Each party
irrevocably and unconditionally waives any right it may have to a
trial by jury in respect of any legal action arising out of or
relating to this Agreement or the services contemplated hereby.
Each party to this Agreement certifies and acknowledges that (a) no
representative of any other party has represented, expressly or
otherwise, that such other party would not seek to enforce the
foregoing waiver in the event of a legal action; (b) such party has
considered the implications of this waiver; (c) such party makes
this waiver voluntarily; and (d) such party has been induced to
enter into this Agreement by, among other things, the mutual
waivers and certifications in this Section 17.

 

18. Counterparts.
This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which shall together be deemed to
be one and the same agreement. A signed copy of this Agreement
delivered by facsimile, e-mail, or other means of electronic
transmission shall be deemed to have the same legal effect as
delivery of an original signed copy of this
Agreement.

 

19. No
Strict Construction. The
parties to this Agreement have participated jointly in the
negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises, this
Agreement will be construed as if drafted jointly by the parties,
and no presumption or burden of proof will arise favoring or
disfavoring any party by virtue of the authorship of any of the
provisions of this Agreement.

 

 

[SIGNATURE PAGE FOLLOWS]

 

 

4

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first written above.

	
 

	

 

LIQUIDVALUE DEVELOPMENT INC.

	
 

	

 

 

 

By: /s/ Ronald
Wei                 

Name: Ronald
Wei                                           

Title:  
Co-Chief Financial
Officer

	
 

	

 

 

 

ALSET INTERNATIONAL LIMITED

	
 

	

 

 

 

By: /s/ Lui Wai
Leung
Alan          

      Name: Lui Wai Leung
Alan 

      Title: Executive Director and
CFO

	
 

	
 

 

 

5Exhibit 10.1

 

 

 

 

 

 

 

 

 

 

 

Dated
the 1st day of January 2018

 

AU,
SIK KEE (區錫機)

 

AND

 

REGENCELL
BIOSCIENCE LIMITED 

(腦再生科技有限公司)

 

 

 

DEED
OF RIGHTS TRANSFER, STRATEGIC PARTNERSHIP AND UNDERTAKING

 

 

 

 

 

 

 

 

 

 

 

 

 

    1

     

    

 

This
DEED OF RIGHTS TRANSFER, STRATEGIC PARTNERSHIP AND UNDERTAKING is made on the 1st day of January 2018

 

BETWEEN

 

AU,
SIK KEE (區錫機), the holder of Hong Kong Identity Card No. [         ] of 22/F, First Commercial Building,
33-35 Leighton Road, Causeway Bay, Hong Kong, being the Listed Chinese Medicine Practitioner with the Listed No. of [          ] maintained
by the Chinese Medicine Practitioners Board of the Chinese Medicine Council of Hong Kong (“The Chinese Medicine Practitioner”);

 

AND

 

REGENCELL
BIOSCIENCE LIMITED (腦再生科技有限公司), a company incorporated in Hong
Kong as a private company with limited liability with the Company no. [          ], whose registered office and whose principal place
of business in Hong Kong is 21/F, EIB Tower, 4-6 Morrison Hill Road, Wan Chai, Hong Kong (“Regencell”);

 

(collectively,
referred hereunder as to “the Parties”)

 

WHEREAS:-

 

		A.	The
                                         Chinese Medicine Practitioner is the founder, creator and developer of certain Traditional
                                         Chinese Medicine (“TCM”) formulae which can provide effective solutions
                                         for patients suffering from Attention Deficit and Hyperactivity Disorder (“ADHD”)
                                         and Autism Spectrum Disorders (“ASD”), which are supported by the
                                         research data of over 100 patients who suffered from ADHD and ASD , and all other TCM
                                         formulae targeting different kinds of human illnesses and diseases (collectively, “the
                                         TCM Formulae”), as well as all of the Intellectual Property Rights (as defined
                                         hereinunder) (collectively, “the TCM Formulae and All Intellectual Property
                                         Rights”).

 

		B.	The
                                         Chinese Medicine Practitioner is also the sole legal and beneficial owner of the intellectual
                                         property rights of the TCM Formulae, including research and development, trademark, copyright,
                                         patent, and any other intellectual property rights, whether registered, unregistered,
                                         registrable, unregistrable or otherwise, in relation to and/or in connection with the
                                         TCM Formulae (“the Intellectual Property Rights”).

 

    2

     

    

 

		C.	Regencell
                                         was incorporated in Hong Kong as a private limited company on 12th May 2015,
                                         with an objective to provide and further research and development of TCM Formulae and
                                         All Intellectual Property Rights to be sold and marketed commercially around the world.

 

		D.	By
                                         entering into this Deed, both The Chinese Medicine Practitioner and Regencell acknowledge
                                         that they have read and understood the matters set out herein and that they are of lawful
                                         and legally competent to execute this Deed. Both The Chinese Medicine Practitioner and
                                         Regencell further acknowledge that they understand and have been advised of their respective
                                         right to obtain independent legal advice before entering into this Deed and are aware
                                         of its legal implication.

 

		E.	The
                                         Parties acknowledge that the terms and conditions set out in this Deed are contractual
                                         in nature and they are intended to have legal effect and are not merely a warning or
                                         recital.

 

		F.	The
                                         Parties confirm that they enter into this Deed out of its/his own free will without any
                                         undue influence, pressure, representation or inducement by any others.

 

		G.	The
                                         Parties have agreed to enter into this Deed for The Chinese Medicine Practitioner to
                                         effect the transfer of ownership of the TCM Formulae and All Intellectual Property Rights
                                         and the TCM Inventions (as defined hereinafter) to Regencell and for Regencell to give
                                         an undertaking to The Chinese Medicine Practitioner in accordance with the terms set
                                         out in this Deed.

 

NOW
THIS DEED WITNESSES that: -

 

		1.	INTERPRETATION

 

		1.1	In
                                         this Deed, words importing the singular include the plural and vice versa, words importing
                                         gender or the neuter include both genders and the neuter and references to persons include
                                         bodies corporate or unincorporated.

 

		1.2	In
                                         this Deed, headings are for convenience only and shall not affect the construction of
                                         this Deed.

 

    3

     

    

 

		1.3	In
                                         construing this Deed:-

 

		(a)	the
                                         rule known as the ejusdem generis rule shall not apply and accordingly general words
                                         introduced by the word “other” shall not be given a restrictive meaning by
                                         reason of the fact that they are preceded by words indicating a particular class of acts,
                                         matters or things; and

 

		(b)	general
                                         words shall not be given a restrictive meaning by reason of the fact that they are followed
                                         by particular examples intended to be embraced by the general words.

 

		2.	TRANSFER
                                         OF OWNERSHIP OF TCM FORMULAE AND ALL INTELLECTUAL PROPERTY RIGHTS

 

		2.1	The
                                         Chinese Medicine Practitioner hereby irrevocably agrees that he shall assign all his
                                         legal and beneficial ownership in relation to and/or in connection with the TCM Formulae
                                         and All Intellectual Property Rights to Regencell upon execution of this Deed (“the
                                         Transfer”).

 

		2.2	In
                                         consideration of the Transfer, Regencell undertakes to The Chinese Medicine Practitioner
                                         and agrees to donate three percent (3.0%) of net revenue generated in association with
                                         the use and/or commercialization of the TCM Formulae and All Intellectual Property Rights
                                         (“the Donation”) upon the Transfer to any of the charitable institutions
                                         and/or trusts of a public character anywhere in the world (“the Charitable Organization”)
                                         at the sole and absolute choice of the Chinese Medicine Practitioner (or someone assigned
                                         by him in writing) and in such proportion at the sole and absolute discretion of the
                                         Chinese Medicine Practitioner (or someone assigned by him in writing) on a yearly basis.

 

		2.3	Regencell
                                         agrees that the calculation of the Donation will be relied on the net revenue as shown
                                         in the breakdown of the audited financial accounts of Regencell and The Chinese Medicine
                                         Practitioner is at his liberty to request Regencell to submit the audited financial accounts
                                         for his inspection at any time.

 

		2.4	Regencell
                                         agrees that for proving the compliance of its obligation under the clause 2.2 hereof,
                                         Regencell shall submit all payment slips regarding its Donation to the Charitable Organizations
                                         on a yearly basis or as requested by The Chinese Medicine Practitioner.

 

    4

     

    

 

		2.5	Regencell
                                         undertakes to pay for all costs and expenses incurred by the Chinese Medicine Practitioner
                                         in conducting research, testing, attending meetings/seminars, compiling records/reports
                                         or performing any similar acts in relation to the development of the TCM Formulae.

 

		2.6	Upon
                                         the execution of this Deed, The Chinese Medicine Practitioner acknowledges that the legal
                                         and beneficial ownership of the TCM Formulae and All Intellectual Property Rights shall
                                         vest and continue to vest in Regencell. Any products or services further developed by
                                         the use of the TCM Formulae and All Intellectual Property Rights or acquired thereunder
                                         shall remain the exclusive property of Regencell.

 

		2.7	The
                                         Chinese Medicine Practitioner shall do and perform or procure to be executed, done and
                                         performed by Regencell all such further acts, agreements, assignments, assurances, deeds
                                         and documents upon the request from Regencell to vest effectively the legal and beneficial
                                         ownership of the TCM Formulae and All Intellectual Property Rights in Regencell.

 

		3.	STRATEGIC
                                         PARTNERSHIP

 

		3.1	Regencell
                                         hereby forms a strategic partnership with The Chinese Medicine Practitioner whereas Regencell
                                         undertakes to continuously carry out its obligation under Clause 2.2 and The Chinese
                                         Medicine Practitioner accepts Clause 3.2 and Clause 3.3.

 

		3.2	Any
                                         inventions, TCM formulae, utilities, models improvements, research, discoveries, designs,
                                         processes, methods of manufacture, distribution or management, products, works of authorship,
                                         creations and the like, including all of their Intellectual Property Rights, conceived
                                         or made by The Chinese Medicine Practitioner, either individually or jointly with others,
                                         and in relation to TCM (individually, an “TCM Invention”, and collectively,
                                         “TCM Inventions”), shall be the sole and exclusive property of Regencell,
                                         its successors, assigns and nominees, without any compensation in addition to that set
                                         forth in this Deed. The Chinese Medicine Practitioner is, however, permitted to continue
                                         to use or make use of the TCM Inventions solely in his practice and for his research
                                         as a Chinese Medicine practitioner. Without limiting the generality of the foregoing:

 

    5

     

    

 

If
after the execution of this Deed, The Chinese Medicine Practitioner, either individually or jointly with others, conceives, authors,
makes or first actually reduces to practice any TCM Invention, The Chinese Medicine Practitioner shall promptly disclose to Regencell
full details thereof, including without limitation any notes, recipes, formulae, drawings and models relating thereto, and agrees
to assign and does hereby assign and transfer to Regencell, its successors, assigns and nominees, all The Chinese Medicine Practitioner’s
right, title and interest in and to such TCM Invention. At the expense and request of Regencell at any time and from time to time,
The Chinese Medicine Practitioner shall execute and deliver all documents and do all things necessary or desirable to enable Regencell,
its successors, assigns and nominees, to obtain the full benefit of an entire right, title and interest in and to such TCM Invention,
and to obtain, maintain, defend and enforce patent or other appropriate forms of protection for such TCM Invention throughout
the world, including without limitation the execution of all necessary applications, declarations, affidavits and other documentation.
All decisions as to the patenting and exploitation of any such TCM Invention shall be in the sole discretion of Regencell. The
Chinese Medicine Practitioner irrevocably appoints Regencell to be The Chinese Medicine Practitioner’s attorney-in-fact,
in The Chinese Medicine Practitioner’s name and on The Chinese Medicine Practitioner’s behalf, to execute and deliver
such documents or instruments and do all such things that are necessary or desirable for the purpose of giving to Regencell, its
successors, assigns and nominees the full benefit of the provisions of this Clause 3.2.

 

		3.3	The
                                         Chinese Medicine Practitioner shall promptly disclose to Regencell all works in which
                                         copyright or design right exists which are originated, conceived, written or made by
                                         The Chinese Medicine Practitioner, either individually or jointly with others, and shall,
                                         until such rights are fully and absolutely vested in Regencell, its successors, assigns
                                         and nominees, hold them in trust for Regencell. The Chinese Medicine Practitioner agrees
                                         to assign and does hereby assign and transfer to Regencell, its successors, assigns and
                                         nominees, all copyright, design right and other proprietary and/or intellectual property
                                         rights, if any, therein for the full terms thereof throughout the world. At the expense
                                         and request of Regencell at any time and from time to time, The Chinese Medicine Practitioner
                                         shall execute and deliver all documents and do all things necessary or desirable to enable
                                         Regencell, its successors, assigns and nominees, to obtain the full benefit of an entire
                                         right, title and interest in and to such rights, and to secure copyright or other forms
                                         of intellectual property protection for them throughout the world, and otherwise to establish
                                         and substantiate the rights of Regencell under this Clause 3.3.

 

    6

     

    

 

		4.	DISCLOSURE
                                         OF THIS DEED

 

		4.1	This
                                         Deed and/or any of the terms and conditions herein may be disclosed partially or entirely
                                         by either of the Parties for and only for the following purposes (“the Disclosure”).

 

		4.1.1	where
                                         the Disclosure, in the opinion of Regencell, is of use in promoting, marketing and commercializing
                                         the business of Regencell and/or the TCM Formulae and All Intellectual Property Rights
                                         to all potential investors.

 

		4.1.2	where
                                         the Disclosure, in the opinion of Regencell, is necessary to demonstrate and prove its
                                         legal and beneficial ownership of the TCM Formulae and All Intellectual Property Rights.

 

		4.1.3	where
                                         the Disclosure is required by law, by a court of competent jurisdiction or by another
                                         appropriate governmental, supervisory or regulatory body, within the extent permitted
                                         by law.

 

		5.	GENERAL

 

		5.1	The
                                         Parties represent and warrant that this Deed is executed on their behalf with full authorization
                                         and power and they are entitled to take any necessary measures to perform this Deed.

 

		5.2	No
                                         variation or amendment to this Deed shall be effective unless in writing and signed by
                                         the authorised representatives of all the Parties.

 

		5.3	Any
                                         provisions of this Deed held invalid or unenforceable shall not affect the enforceability
                                         of the other provisions that shall remain valid.

 

		6.	TRANSFER
                                         OF BENEFIT

 

		6.1	The
                                         Chinese Medicine Practitioner agrees that Regencell can transfer this Deed, on the same
                                         terms and conditions, to Regencell’s successors, assigns and nominees as may from
                                         time to time be requested by Regencell.

 

		7.	SEVERABILITY

 

		7.1	If
                                         any of the provisions in this Deed are found to be invalid, illegal or unenforceable
                                         by any applicable laws, regulations or competent courts, such invalidity, illegality
                                         and unenforceability shall not affect the remaining provisions of this Deed.

 

		8.	GOVERNING
                                         LAW AND DISPUTE RESOLUTION

 

This
Deed shall be governed by and construed in accordance with the laws of Hong Kong Special Administrative Region, and any conflict
or dispute arising from or related to this Deed shall be subject to the non-exclusive jurisdiction of the Hong Kong courts.

 

    7

     

    

 

IN
WITNESS WHEREOF, the undersigned, intending to be legally bound, have duly executed and delivered this Deed to become effective
as of the date first above written.

 

	SIGNED,
    SEALED AND DELIVERED 	)
	By
    	)
	AU,
    SIK KEE (區錫機)	)
	Holder
    of Hong Kong Identity Card No. 	)
	HKID
    No. [          ]	)
	 	 
	in
    the presence of :- 	 
	 	 
	SIGNED
    with the Common Seal of	)
	REGENCELL
    BIOSCIENCE 	)
	LIMITED
    (腦再生科技有限公司)	)
	and
    SIGNED by its Director(s)	)
	 	 
	in
    the presence of :-	 

 

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}]]