Document:

Exhibit 10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

 

EXECUTIVE EMPLOYMENT
AGREEMENT, effective
November 1, 2012,
by and between Procyon
Corporation, a Colorado
corporation (“Procyon”) and Regina W. Anderson (the “Executive”).

WHEREAS, Procyon has, prior to the date of this
Agreement, employed the Executive as its Chief Executive Officer and Chairman of the
Board of Directors; and

WHEREAS,
Procyon desires to continue
to employ the Executive on a full-time
basis, and the Executive desires to
be so employed by Procyon,
pursuant to the terms of
this Executive Employment Agreement;

NOW, THEREFORE, in consideration of the mutual
covenants contained herein, the parties agree as follows:

 

ARTICLE I

EMPLOYMENT DUTIES AND BENEFITS

Section
1.1 Employment. Procyon hereby employs
the Executive in the position described
on Schedule 1 hereto as an executive officer of Procyon,
pursuant to the terms of this Executive Employment Agreement. The Executive accepts such employment and agrees to perform
the duties and responsibilities assigned to her pursuant
to this Agreement.

Section
1.2 Duties and Responsibilities.
 The Executive shall hold the positions with
Procyon which are specified
on Schedule 1, which is attached hereto and incorporated
herein by reference. The Executive is employed pursuant
to the terms of this Agreement and agrees
to devote full-time to the business
of Procyon. The Executive shall perform the duties set forth on Schedule 1 while employed as an
executive officer, and such further duties as may be determined and assigned
to her from time-to-time by the Board of Directors of Procyon.

Section
1.3  Working Facilities. 
The Executive shall be furnished with facilities
and services suitable to the position and adequate for the performance
of the Executive’s duties under this Agreement. The
Executive’s duties shall be
rendered at Procyon’s offices, or at such
other place or places as the Executive may designate with Procyon’s approval, which
shall not be unreasonably withheld.

Section
1.4 Vacations. The Executive shall be entitled each year to a reasonable
vacation of not less than four weeks in accordance with the established practices of Procyon now or hereafter in effect
for executive personnel, during which time the
Executive’s compensation shall be paid
in full. Should Procyon from time-to-time require the Executive to perform job duties during vacation periods,
the Executive shall be entitled to compensatory vacation time at a mutually
agreeable time.

Section
1.5 Expenses. The Executive is
authorized to incur reasonable expenses for
promoting the domestic and international business of Procyon in
all respects, including expenses for entertainment, travel and similar items. Procyon will reimburse the Executive for all
such expenses that are reasonably related to Procyon’s business and primarily
for Procyon’s benefit, upon the presentation by the Executive, from time-to-time,
of an itemized account of such expenditures. Such expenses
shall be reviewed and approved by
Procyon’s Chief Financial Officer.

Section
1.6 Benefit Plans. From the effective
date of this Agreement, the
Executive shall be entitled to participate in all
existing benefit plans provided to Procyon’s executive employees, including,to the extent now or hereafter in effect,
medical, health, dental, vision, disability, life insurance and death benefit plans, in accordance with the terms of such plans.

 

 

 

 

 

 

     

     

    

ARTICLE
II COMPENSATION

Section
2.1 Base Salary. Procyon shall pay
to the Executive a base salary of not less
than the amount specified on Schedule 1, subject to annual review and raises
in such base salary.  The base salary may
be changed by action of Procyon’s Board of Directors, and such
changes shall thereafter be included in the Executive’s
base salary as defined for purposes of this Agreement and Procyon’s bonus
plan.

Section
2.2 Bonus and Bonus Plan Participation. The Executive
shall be entitled to receive certain short term incentive bonuses, as described,
and pursuant to the conditions set
forth, in Schedule 1. The Executive shall also be entitled to receive bonuses
in accordance with the provisions of the Procyon-wide

bonus plan as in effect from time to time.

ARTICLE III

TERM OF EMPLOYMENT
AND TERMINATION

Section
3.1 Term and Nature of Employment.
This Agreement shall be for a term of one year, commencing on its effective date, subject,
however, to termination during such period as provided in this Article and approval
of the shareholders of Procyon in its annual meeting
of shareholders. Nothing contained in this Agreement shall be construed
to constitute a promise of employment
to the Executive for a fixed term. Executive’s employment under this Agreement
is strictly “at will,” and may
be terminated by the Executive or Procyon, upon thirty days written notice, for any
reason or no reason, with or without cause.

Section
3.2 Renewal of Term. Executive’s employment shall be extended for one additional
year at the end of each year of the term,
or extended term, of this Agreement on the same terms and conditions as contained in
this Agreement, unless either Procyon or the Executive shall, prior to the expiration
of the initial term or of any renewal term, give written notice of the intention not
to renew this Agreement.

Section
3.5 Termination. In the event of termination
of this Agreement by the Executive or Procyon
for any reason, including termination
by death or disability
of the Executive,
Procyon
shall be obligated to compensate
the Executive for any accrued vacation time not taken
and any earned but unpaid base salary and any earned but unpaid bonuses up to
the date of termination.

Section
3.6 Options.  Any options granted to the Executive to purchase stock
of Procyon shall become fully vested on the date
of the involuntary termination of this Agreement. This provision shall serve as a contractual
modification of any option grants or agreements
between the Executive and Procyon, whether such grants or
agreements shall pre-date or postdate this
Agreement, and is hereby incorporated by reference
into each such option grant or agreement.

ARTICLE
IV

GENERAL MATTERS

Section 4.1 Governing Law. This
Agreement shall be governed by the laws of the State of Florida and shall be construed in accordance therewith.

 

 

 

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Section
4.2 No Waiver. No provision of this Agreement may
be waived except by an agreement in writing signed by
the waiving party. A waiver of
any term or provision shall not be construed
as a waiver of any other term or provision.

Section
4.3 Amendment. This Agreement may be amended, altered or revoked at any
time, in whole or in part, by filing with
this Agreement a written instrument setting forth such changes, signed by each of the
parties.

Section
4.4 Benefit. This Agreement shall be binding
upon the Executive and Procyon, and shall not be assignable by Procyon
without the Executive’s written consent.

Section
4.5 Construction.  Throughout this
Agreement the singular shall include the
plural, and the plural shall include the singular, and the masculine and neuter shall
include the feminine, wherever the context
so requires.

Section
4.6 Text to Control. The headings of articles and sections are included
solely for convenience of reference. If any conflict between any heading and the text
of this Agreement exists, the text
shall control.

Section
4.7 Severability. If any provision
of this Agreement is declared by any court of competent jurisdiction to be invalid for any
reason, such invalidity shall not affect the remaining provisions. On
the contrary, such remaining provisions
shall be fully severable, and this Agreement
shall be construed and enforced as if such
invalid provisions had not been included in the Agreement.

Section
4.8 Authority. The officer executing
this Agreement on behalf of
Procyon has been empowered and directed to do so by the Board of Directors
of Procyon.

Section 4.9 Effective
Date. The effective date of this Agreement shall be November 1, 2012.

 

 

	PROCYON CORPORATION	 	EXECUTIVE:
	 	 	 
	By: 	 	By:
	James B. Anderson, Chief Financial Officer	 	Regina W. Anderson
	 	 	 
	 	 	 
	By:	 	 
	Fred W. Suggs, Jr.	 	 
	Director, Member of the Procyon	 	 
	Corporation Compensation	 	 
	Committee	 	 
	 	 	 
	 	 	 
	By:	 	 
	Chester L. Wallack,	 	 
	Director, Member of the Procyon	 	 
	Corporation Compensation	 	 
	Committee	 	 

-3-

 

     

     

    

 

PROCYON
CORPORATION 

EXECUTIVE EMPLOYMENT
AGREEMENT

Salary
and Benefit Statement

 

Date: November 1, 2012

 

	Executive:
    	Regina
    W. Anderson
	 	 
	 	 
	Position:
    	Procyon
    Corporation: Chief Executive Officer/Chairman of the Board
	 	 
	 	 
	Reporting to: 	Procyon
    Board of Directors
	 	 
	 	 
	Annual Base Salary:	$158,000, annually
	 	 
	 	 
	Benefits:
    	As
    outlined in this
    Executive Employment
    Agreement and the current Procyon Corporation Employee Handbook.
	 	 
	 	 
	Term:	As described in Section 3.1 of
    the Executive Employment Agreement.
    The terms of the Short Term Growth Incentive Bonus described below shall be
    reviewed annually, and any amendment thereto be made with the mutual agreement of
    the Board of Directors and The Executive.

	 	 
	Duties and	 
	Responsibilities:	Provide
oversight of Procyon
operations; preside over
Procyon Board meetings
as Chairman of the
Board; provide oversight
of Amerx Health
Care Corporation (the wholly-owned
subsidiary of Procyon) executive officers;
build company team and corporate culture through HR responsibilities;
oversee corporate financial reporting; maintain shareholder communications; communicate
corporate news and events; direct, implement and manage compliance with SEC rules and
regulations; develop and coordinate marketing efforts for Amerx Health Care; and such
other matters as determined from time to
time by the Board.
	 	 
	 	 
	Short Term	 
	Growth Incentive	 
	Bonus:	Executive will be entitled to an annual short-term incentive
bonus, payable as set forth below, based on accomplishing the following benchmarks,
which shall be based upon Procyon’s net income before NOL
provided fiscal 2013 consolidated company net
sales exceed $3,000,000.

 

		Bonus:	

 

-4-

 

 

 

 

     

     

    

 

 

 

		• 	3% Incentive: Executive to be paid 3% of Procyon’s net
income before NOL for the fiscal year provided net sales exceed $3,000,000.
	 	 	 
		•	The Short Term Incentive Bonus
will be paid by Procyon to the Executive in September of the applicable year, after the close of the fiscal year end.
	 	 	 

 

 

	APPROVED:	 	 
	 	 	 
	PROCYON CORPORATION	 	EXECUTIVE:
	 	 	 
	 	 	 
	By:	 	/s/ 
	James B. Anderson, Chief  Financial Officer	 	Regina W. Anderson
	 	 	 
	 	 	 
	By:	 	 
	Fred W. Suggs	 	 
	Director, Member of the Procyon	 	 
	Corporation Compensation	 	
	Committee	 	 
	 	 	 
	 	 	 
	By:	 	 
	Chester L. Wallack,	 	 
	Director, Member of the Procyon	 	 
	Corporation Compensation	 	 
	Committee	 	 
	 	 	 
	 	 	 
	Effective Date: November 1, 2012	 	 

 -5-Exhibit 10.1

 

	 	 	 
	  

    

    

    

    

    

    PRIVATE & CONFIDENTIAL

    

    

    29 October 2012	 	 

 

PGCG Assets Holdings Sdn Bhd

11-2 Jalan 26/70A,

Desa Sri Hartamas,

50480 Kuala Lumpur

 

Attn: Dato' Wong Weng Kung

 

Dear Sirs,

 

APPLICATION FOR
BANKING FACILITIES

 

We are pleased
to advise that the Bank has approved
your application for the banking facilities set
out below subject to the following terms and conditions :-

 

	1. 	Lending Branch
	 	Kuala
Lumpur Main Branch, 
	 	Level 1,
Wisma Hong Leong,
	 	18 Jalan
Perak,
	 	50450 Kuala
Lumpur.

 

		2.	Type And Amount Of Facilities

 

	Type	Existing (RM)	Change +/- (RM)	New Limit (RM)
	Term Loan (TL)	-	+41,000,000	41,000,000
	 	 	 	 
	Total	-	+41,000,000	41,000,000

 

		3.	Nature of Facilities

 

Purpose

 

To part finance the
purchase of a fifteen (15)
storey commercial office building and an annexed two storey
podium block with a basement carpark held
under Geran No. 10010,
Lot 238 Section 43,
Town and District of Kuala Lumpur,
Wilayah Persekutuan Kuala Lumpur known as No.
160 Jalan Ampang, 50450 Kuala
Lumpur.

 

Interest Rate

 

BLR
plus 1.75% p.a. on
monthly rests. 

 

Commitment
Fee

 

Commitment fees
of 1% p.a. shall be
levied on the undrawn
portion of the facility from date
of availability of
the facility if the facility is not
drawn in accordance
with the drawdown schedule.
In the event where
there is no predetermined
schedule of drawdown,
commitment fee shall
be chargeable
on the undrawn
portion of the Term
Loan.

 

    	1

    	 	

    
 

PGCG Assets
Holdings Sdn Bhd (983271-U)

 

Drawdown

 

Upon fulfillment
of all conditions precedent

 

Availability
Period

 

Three (3) months from date of this
Letter of Offer failing which the undrawn portion of the facility shall be deemed cancelled and withdrawn.

 

Repayment

 

To
be repaid over a period of 15 years by 180 monthly instalments
of RM400,147-00 each inclusive of interest, the first
monthly instalment to commence on the first day of the month following the first release of
the facility or the expiry of the Availability Period, whichever is earlier with a
final instalment of such amount as will be sufficient to
settle in full the total outstanding due under the Term Loan.

 

Prepayment

 

Full
and partial prepayments are subject to three (3) months written notice. In lieu of this, three (3) months interest at prescribed
rate will be charged on any amount prepaid. In the case of partial prepayments, amount prepaid shall be applied
towards the repayment schedule in
the inverse order of maturity. Any amount prepaid shall not be available for redrawing.

 

Notwithstanding
the above, the Bank
may in its absolute discretion
impose a prepayment fee of 1% or
such other rate as the
Bank may prescribed on the amount to
be prepaid.

 

Prepayments
received by the Bank without written notice shall
be treated as advance
payment and no part
of the advance payment received
shall be applied towards
the repayment of principal outstanding until all
interest due or deemed
to be due has been paid. No interest shall
be paid by the Bank for any advance payment
received.

 

Prepayment
will only be permitted when the Facility(ies) have
been released in full.

 

		4.	Base Lending Rate ("BLR")

 

The
Bank's BLR as at the date of this Letter is 6.60%
p.a. and is subject to
change from time to time and
at any time.

 

		5.	Variation of Interest/Commission/Discount Rates

 

Notwithstanding
the interest/commission/discount rates provided above
("Prescribed
Rate"}, the Bank
shall be entitled,
from time to time (both before and after judgment
or order) and without
any requirement
for the agreement of the Borrower, to vary at
the discretion of the Bank
/ the Prescribed Rate percentage
of interest imposed above
the BLR/Bank's ECOF/OR other
floating rate (including changing entirely the basis
upon which the Prescribed Rate and/or
the Default Rate is arrived
at) and/or the applicable
rest period and/or the
commission/discount rates, by serving
a notice in writing
on the Borrower, which notice may be incorporated into the Bank's
statements forwarded to the
Borrower periodically
(if any).

 

    	2

    	 	

    
 

 

		6.	Additional/Default Interest

 

If
the Borrower shall default in the payment of any monies
whether principal or interest or any sum whatsoever payable
to the Bank or in the event of demand or recall of
the Facilities or any of the facilities comprised therein,
the Borrower shall pay interest in the
currency in which such amounts then denominated
on any overdue amount or any other sums due and payable
to the Bank, from the time
of default up to the time of actual payment (as
well after as before demand, judgment or order) at the rate per annum:-

 

	 	Facilities	Additional/Default
    Interest
	 	TL	1% plus Prescribed Rate

 

		7.	Additional Conditions Precedent

 

In
addition to the Conditions Precedent stated in the
Facilities Agreement, the following are the additional conditions precedent
to be fulfilled:-

 

		a)	Where landed property has
been proferred as security, the Bank having received the
following confirmation that:-

 

		i)	The current market
value of the proferred property is not less than
RM81,500,000-00 as opined
by a valuer on the Bank's panel vide a formal valuation report;
	 	 	 

		ii)	Quit rent on the land has been paid up to date;
	 	 	 

		iii)	The property has been adequately
insured against fire and related perils with MSIG
Insurance (M) Bhd or Bank's panel insurer and the
Bank's interest as mortgagee
and loss payee has been duly endorsed in
the policy.
	 	 	 

		b)	Payment of all fees
and charges, inclusive of a facility
fee of RM125,000-00 which is payable upfront upon acceptance of
this Letter of Offer and the Bank shall have the right
to debit your account with the Bank.
	 	 	 

		c)	The Borrower is to maintain
a current account with the Bank throughout the
term of the loan and execute
an Irrevocable Standing Instruction to authorise the Bank
to debit its current account for the satisfaction of
the Borrower's obligations that is due and payable including
but not limited to monthly instalments, interests,
sinking fund contributions and/or any other related charges
via the Bank's Automatic Fund Transfer (AFT)
	 	 	 

		d)	Receipt by the Bank of the
Corporate Guarantee of Union Hub Technology Sdn Bhd (Co. No.: 807388-P) for the principal
sum of RM41,000,000-00 plus interest thereon.
	 	 	 

		e)	Receipt by the Bank
of the Joint and Several Guarantee of the following
for the principal sum of RM41,000,000-00 plus interest
thereon:-
	 	 	 

	 	i) 	Wong Weng Kung 	(NRIC No.: 720909-08-5057)
	 	ii)	Chai Kok Wai	(NRIC No.: 721103-08-6143)
	 	 	 	 

		f)	Receipt by the Bank Letter
of Undertaking from the followings
to cover any repayment shortfall of its financial commitments
plus interest thereon until all loans with the
Bank are fully settled:-
	 	 	 

	 	i) 	Wong Weng Kung 	(NRIC No.: 720909-08-5057)
	 	ii)	Chai Kok Wai	(NRIC No.: 721103-08-6143)
	 	iii)	Union Hub Technology Sdn Bhd	(Co. No.: 807388-P)

 

 

    	3

    	 	

    
 

PGCG
Assets Holdings Sdn Bhd (983271-U)

 

		g)	Receipt of evidence on the settlement of the differential
sum between Sales and Purchase Agreement price and TL amount.

 

		h)	Receipt of duly signed and stamped Sales and Purchase Agreement.

 

		i)	Receipt of evidence on the increase on Borrower's Paid
Up Capital to RM1,000,000-00.
	 	 	 

		j)	Wong Weng Kung is to take up a Keyman Insurance policy
of a minimum RM2,000,000-00 with the Bank's panel of insurance and to be assigned absolutely to Hong Leong Bank Berhad. Any costs
and expenses in connection with the policy and premium shall be borned by you.
	 	 	 

		k)	Where the preferred security is a completed property, receipt
by the Bank certified true copies by the relevant authorities I architect I engineer of the following:

 

		i)	Approved building plan; and

		ii)	Certificate of Fitness

 

		l)	Any other terms and conditions as may be advised by the
Bank's solicitors

 

		8.	Release of Facilities

 

Upon fulfilment of conditions precedent or any other
conditions that the Bank may impose.

 

		9.	Securities and Documentation

 

The Borrower shall execute and procure the following
securities in the form and substance acceptable to the Bank:-

 

Facilities Agreement

 

A Facilities Agreement to secure repayment of the
principal sum of RM41,000,000-00 together with interest thereon and all monies due and payable.

 

Property With Title-Legal
Charge

 

1st Party first legal charge
over the a fifteen (15) storey commercial office building and an annexed two storey podium block with a basement carpark held under
Geran No.10010 Lot No. 238, Section 43, Mukim and District of Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur by the registered
proprietor, PGCG Assets Holdings Sdn Bhd (Co. No.: 983271-U) to secure the principal sum of RM41,000,000-00 together with interest
thereon and all monies due and payable.

 

Fixed Deposit Placed
with HLBB - Letter of Set-Off

 

A 1st Party Letter of Set-Off
in the form and substance acceptable to the Bank over the sum of RM1,600,000-00 together with interest thereon placed with the
Bank by PGCG Assets Holdings Sdn Bhd (Co. No.: 983271-U)

 

Over Assets of The Borrower.Debenture

 

A first debenture incorporating
a fixed and floating charge over all the present and future assets of the Borrower to secure the repayment of the principal sum
of RM41,000,000-00 together with interest thereon and all monies due and payable.

 

    	4

    	 	

    
 

PGCG
Assets Holdings Sdn Bhd (983271-U)

 

		10.	Utilisation of Facilities

 

If the Facilities
is/are not utilised for whatever reasons after three (3) months from the date of this letter or such further period as the Bank
may prescribe, regardless of whether the loan documentation has been completed or not, the Bank shall be at liberty to withdraw
the Facilities or to vary the terms of the Facilities and the Borrower shall reimburse the Bank for any costs, fees and expenses
incurred by the Bank.

 

The utilisation of the Facilities
is/are also subject to the terms and conditions set out in the Facilities Agreement, as well as the Additional FEC Terms &
Conditions (if applicable) and AAT Terms & Conditions (if applicable) annexed hereto the provisions of which are incorporated
into and form part of this Letter of Offer. A copy of the Facilities Agreement is available upon request (in the case of secured
Facilities). The Facilities and all interest and costs shall be repayable on demand and the Bank shall have the right to debit
the Borrower's account with the Bank. Fees, including renewal fees shall be debited to the Borrower's account upon signing of the
Letter of Offer or upon utilisation of the Facilities whichever is the earlier.

 

Nothing in this Letter of Offer
(whether signed by the parties or not) shall be deemed to impose on the Bank any obligation either at law or in equity to make
or to continue to make available the Facilities to the Borrower.

 

		11.	Review of Accounts and Valuation

 

Notwithstanding
anything to the contrary in the Letter of Offer or the Appendices annexed hereto (if any), and further notwithstanding any specific
purpose(s) agreed to herein, the Bank shall be entitled to review the granting and/or continuation of the Facilities at any time
and from time to time (irrespective of whether or not the Facilities or any part thereof has been utilised or disbursed or whether
any event of default has occurred), including but not limited to the following circumstances :-

 

		(i)	where
there is a change in applicable law or regulation which makes it impossible or unlawful for the Bank to continue its making available
the Facilities or any part thereof to the Borrower or if the Borrower or any Security Party(ies) shall be affected by a
material change in circumstances which in the opinion of the Bank has an adverse impact on the Borrower's and/or
any Security Party(ies)'s ability to perform its/their obligations hereunder and under the other Security Documents; or

   

		(ii)	if
any of the Borrower's/Security Party(ies)'s representations and warranties shall at any time be found to have been incorrect in
any material respect; or

   

		(iii)	if
any conditions stipulated herein is breached or not fulfilled to the Bank's satisfaction;

 

and upon any such review, the
Bank shall be entitled to exercise any of its rights and powers to withdraw, cancel, suspend, terminate or recall the Facilities
or any part thereof, and the Borrower hereby agrees to immediately accept such decision and/or repay to the Bank the indebtedness
then due and outstanding under the Facilities.

 

    	5

    	 	

    
 

 

PGCG Assets Holdings Sdn Bhd (983271-U)

 

		12.	Government Taxes and/or statutory/regulatory imposed
charges, fees etc

 

All monies to be paid by the
Borrower to the Bank under the Facilities, the Facilities Agreement and the security documents shall be made in full, exclusive
of any Tax, and without any set-off, restriction or condition and without any deduction for or on account of any counterclaim or
any deduction or withholding of or in respect of any Tax.

 

In the
event the Borrower is required by law to make any additional payments, deduction or withholding from monies payable to the Bank
in respect of any Tax or otherwise, the sum payable by the Borrower in respect of which the deduction or withholding is required
shall be increased so that the net monies received by the Bank is equal to that which the Bank would otherwise have received had
no deduction or withholding been required or made.

 

In the
event the Bank is required by law to calculate and collect from the Borrower any amount paid or payable under the Facilities, the
Facilities Agreement or the security documents on account of any Tax, such amount as calculated by the Bank shall be paid by the
Borrower as additional to and without any deduction or set-off from the monies payable to the Bank.

 

"Tax"
is defined as any present or future, Malaysian or foreign tax, levy, impost, duty, charge, fee, deduction or withholding of any
nature, and any interest or penalties in respect thereof.

 

		13.	Banking and Financial Institutions Act 1989 ("BAFIA")
and Bank Negara Malaysia's Guidelines on Credit Transactions & Exposures with Connected Parties

 

To enable the Bank to comply
with BAFIA and the said Guidelines, the Borrower shall declare to the Bank whether the Borrower is a connected party under the
Guidelines, which includes but is not limited to, a spouse, child, parent or financial dependant of the Bank's Director, Executive
Officer or credit-approving/appraising/reviewing officer or in the case of a corporate/business-customer, includes an entity controlled
by such abovementioned persons. If at any time the Borrower becomes a connected person, the Borrower must notify the Bank in writing
immediately. The Bank reserves the right to terminate the Facilities in the event the Borrower fails to make the appropriate or
correct declaration, resulting in the Bank contravening BAFIA or the said Guidelines.

 

The Borrower authorises and
consents to the Bank obtaining any other information about the Borrower from any credit reference agency or sources and at any
time as the Bank considers appropriate.

 

		14.	Kindly indicate your acceptance of this offer by signing
and returning to us the duplicate copy of this letter by 31st October 2012 failing which our offer will lapse and be cancelled
unless otherwise extended at the Bank's discretion.

 

Yours faithfully,

for and on behalf of

 

 

 

    	6

    	 	

    
 

 

PGCG
Assets Holdings Sdn Bhd (983271-U)

 

We, PGCG Assets Holdings Sdn Bhd (Co. No. 983271-U)
hereby accept the Bank's offer of the Facilities subject to the terms and conditions set out in this letter.

 

We acknowledge
and confirm that it will be our responsibility to check the accuracy and correctness of the details furnished in the/any Insurance
Policy Proposal Form and be aware of the scope of coverage of the insurance policy(ies) purchased.

 

 

 

 

 

    	7

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