Document:

Exhibit 10.10 

 

	 	United
                                            Overseas Bank Limited

                                                                                 

                                                                                HEAD OFFICE

                                                                                80
                                            Raffles Place UOB Plaza

                                                                                Singapore
                                            048624

                                                                                Tel
                                            (65) 6533 9898 Fax (65) 6534 2334

                                                                                uobgroup.com

                                                                                 

                                                                                Co
                                            Reg. No. 193500026Z

 

		Ref.	: 118454/BizMoney

 

12 September 2019

 

PRIVATE & CONFIDENTIAL

 

WEALTH DYNAMICS PTE. LTD.

3 TEMASEK AVENUE

# 18-15 CENTENNIAL TOWER

SINGAPORE 39190

 

Dear Sirs,

 

BANKING FACILITIES

 

We (“the Bank”) are pleased to offer
you the following banking facilities for your use subject to the terms and conditions stated herein and subject also to the Standard Terms
and Conditions Governing Banking Facilities annexed to this Facility Letter (“the Standard Terms”). In the event of any inconsistency
between the terms and conditions herein and the Standard Terms, the terms and conditions herein shall prevail:-

 

		1.	LINE OF CREDIT

 

		S$100,000-00  :	Singapore Dollars One
Hundred Thousand Only

 

Within Line

 

		S$100,000-00   :	For 36-month BizMoney Loan

 

		Interest shall be charged on the BizMoney Loan at the following
rate and calculated with monthly rest or at such other rate and calculated with such other periodical rests as the Bank may decide from
time to time at its discretion (“BizMoney Interest Rate”):-

 

		Interest Rate Per Annum

 

		Zero Point Eight Eight per cent (0.88%) (“Margin”)
over the Bank’s Business Board Rate* prevailing from time to time.

 

		* The Bank’s Business Board Rate as at the date of
this Facility Letter is eight percent (8.0%) per annum.

 

		The Bank may increase, reduce or vary the Margin and/or Business
Board Rate at its absolute discretion at any time and from time to time without prior notice to you. In such an event, you shall pay
such increased or reduced monthly instalments based on the new BizMoney Interest Rate as the Bank may notify you to enable the BizMoney
Loan to be completely repaid within the agreed tenure.

 

SINGAPORE CHINA INDIA INDONESIA MALAYSIA PHILIPPINES THAILAND
AUSTRALIA BRUNEI CANADA FRANCE HONGKONG JAPAN MYANMAR SOUTH KOREA TAIWAN UNITED KINGDOM USA VIETNAM

 

    Page 1 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		2.	SECURITIES

 

The BizMoney Loan and all moneys and liabilities
(whether actual, contingent or otherwise) owing and/or payable by you from time to time shall be secured by the following in form and
substance satisfactory to the Bank:-

 

Personal Guarantee (Limited) for S$100,000-00
to be executed by ROGER JAMES HAMILTON (NRIC No. S6883456B).

 

We enclose herewith the Bank’s standard
Guarantee form(s) to be duly signed by the Guarantor(s) before a witness who may be an Advocate and Solicitor / Certified Public Accountant
/ Commissioner for Oaths / Notary Public / Company Secretary.

 

Where the Guarantee is executed outside
Singapore, it must be executed before a Notary Public or a Singapore Consular Officer located at the place of execution.

 

		3.	AVAILABILITY/CONDITIONS PRECEDENT

 

The banking facilities shall be available
for your use and shall be disbursed upon acceptance of this Facility Letter and subject to the following conditions being fulfilled to
the Bank’s satisfaction:-

 

		(a)	delivery to the Bank of:-

 

		(i)	if you are an incorporated company, your Constitution and an extract of your board of directors’ resolutions certified as a
true copy by two directors or by a director and the company secretary unless your Constitution provide for certification by a director
or the company secretary singly;

 

		(b)	the Bank’s receipt of:-

 

		(i)	all documents required by the Bank in form and substance satisfactory to the Bank and registered, if necessary, with the appropriate
authorities;

 

		(c)	the Bank performing “Know Your Customer” (KYC) due diligence on you and/or any of your directors, shareholders,
owner(s), beneficial owners, employees or agents and/or any third party security provider, and being satisfied with the results thereof
- if the results are not satisfactory to the Bank (decided at the Bank’s absolute discretion), the Bank shall not be obliged to
disburse or make available the Loan;

 

		(d)	the opening of an Operating Account as required under Clause 5(f) of this Facility Letter; and

 

		(e)	you having furnished and/or completed all such other documents in such form and substance as the Bank may require and/or fulfilment
of such other conditions precedent as the Bank may require.

 

	4.	TERMS APPLICABLE TO BIZMONEY LOAN

 

	4.1	Purpose

 

The BizMoney Loan
is granted to finance your working capital requirements and/or business expansion requirements.

 

    Page 2 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		4.2	Availability Period

 

Subject to your compliance with the terms
and conditions herein, the BizMoney Loan shall be available for drawdown up to three (3) months from the date of acceptance of this Facility
Letter (“Availability Period”) by giving the Bank three (3) business days' prior written notice of any drawing. Any extension
of the Availability Period shall be at the Bank’s discretion.

 

		4.3	Repayment

 

The
BizMoney Loan shall be repaid over 36 monthly instalments (comprising principal and interest), based on the interest rate(s) set out above.

 

The
first of such monthly instalments shall be payable one month from the date of disbursement of the BizMoney Loan. Subsequent monthly instalments
shall be payable on the same day of each succeeding month.

 

The
sum of the monthly instalments payable will be revised if there is a change in the BizMoney Interest Rate.

 

Please
ensure that there are sufficient funds in your Operating Account maintained with the Bank to service your monthly instalments.

 

		4.4	Partial Prepayment / Full Redemption

 

		(a)	Partial Prepayment

 

		(i)	Prepayment of any part of the BizMoney Loan is permitted subject to all of the following:-

 

		(1)	You shall have given 1 month prior written notice or 1 month interest in lieu of notice (calculated based on the amount to be prepaid).

 

		(2)	Each partial prepayment shall be at least S$10,000-00 and any amount in excess of S$10,000-00 shall be in multiples of S$5,000-00.

 

		(3)	A prepayment fee of 6.88% flat if the BizMoney Loan is prepaid in part within 12 months from the first drawdown date, or such other
fees as may be specified by the Bank from time to time at its absolute discretion, shall be payable of the amount partially prepaid.

 

		(ii)	After each prepayment received, the monthly instalments (principal and interest) shall be revised accordingly. In such an event, the
Bank shall notify you of the revised monthly instalments (principal and interest) payable to enable the BizMoney Loan to be completely
repaid within the agreed tenure.

 

		(b)	Full Redemption

 

Full redemption of the BizMoney Loan is permitted
subject to all of the following:-

 

		(i)	You shall have given 1 month prior written notice or 1 month interest in lieu of notice (calculated based on the amount outstanding).

 

		(ii)	A prepayment fee of 6.88% flat if the BizMoney Loan is prepaid in part within 12 months from the
                                                              first drawndown date, or such other fees as may be specified by the Bank from time to time at its absolute discretion, shall be
                                                              payable of the loan quantum.

 

		(c)	Any amount prepaid, partially or wholly cannot be redrawn.

 

    Page 3 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		(d)	Any request to convert or vary the interest rate(s) applicable shall be treated
as a request to prepay in full in which event, the terms and conditions pertaining to full redemption will apply, unless agreed otherwise
by the Bank at its absolute discretion.

 

		4.5	Availability Fee

 

An
availability fee of S$250-00 (or such other amount as may be determined by the Bank at its absolute discretion from time to time) shall
be charged and payable by you in respect of:-

 

		(a)	any request to convert/vary the BizMoney Interest Rate;

 

		(b)	any request to restructure the BizMoney Loan;

 

		(c)	any request to release or add any Guarantor(s); or

 

		(d)	any other request to amend the terms and conditions in relation to the BizMoney Loan.

 

		4.6	Fees and Charges

 

Notwithstanding anything to the contrary, you agree
to the following:-

 

		(a)	Facility Fee

 

		(i)	You shall pay to the Bank a one-time non-refundable facility fee of S$1,000-00 (“Facility Fee”).

 

		(ii)	The Facility Fee shall be deducted by the Bank from the BizMoney Loan prior to disbursement.

 

		(ii)	Notwithstanding the above, the Bank reserves its rights at its absolute discretion to vary the Facility Fee at any time.

 

		(b)	Late Payment Charge

 

A late payment fee of S$100-00 or such other
amount(s) as the Bank may set from time to time at its absolute discretion shall be charged and payable by you on each instalment of principal
and interest in connection with the BizMoney Loan which is not paid on its due date.

 

		(c)	Late Interest Charge

 

In addition to the Late Payment Charge payable
in connection with the BizMoney Loan, all instalment payments, capital repayments and interest (on instalments and capital repayments),
fees, commissions and all other charges which are not paid when due shall be charged with a late interest charge of 10.0% per annum over
the BizMoney Interest Rate, or at such other rate as the Bank may at its absolute discretion stipulate from time to time from the date
of first default until the date of actual payment (both before and after judgment), such interest to accumulate by way of compound interest.

 

For the purposes of calculating default interest,
all accumulated and capitalised interest shall be deemed to be principal.

 

		(d)	Abortive Fee

 

If the BizMoney Loan is aborted (whether
in full or in part) before any disbursement or, where applicable, before it is allowed for utilisation, an abortive fee of 4.8% on the
amount that was aborted, or such other fee as may be specified by the Bank from time to time at its absolute discretion, shall be charged
and payable by you.

 

    Page 4 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		(e)	Fees
                                            payable in connection with the Operating Account

 

You shall be charged and shall pay such fees
in connection with the services offered by the Bank relating to the Operating Account including, but not limited to, for each cheque returned,
any instruction to stop payment on any cheque, any withdrawal or payment instruction including GIRO or standing order instruction rejected
due to insufficient funds, any replacement of the UOB Corporate ATM Card, request for issuance of present and/or previous Account Statements.

 

The term “Account Statement”
refers to the statement of account that the Bank will send to you in connection with the Operating Account.

 

		5.	OTHER TERMS & CONDITIONS

 

		(a)	Disclosure of Information

 

		(i)	You irrevocably consent and authorise the Bank to disclose, without prior reference to you any information and particulars relating
to you, any of your accounts (whether held alone or jointly), your credit standing and financial position, any transaction or dealing
between you and the Bank, any facility granted to you, the BizMoney Loan, any publicly available information, or this Facility Letter
together with any information relating to this transaction (whether the same is supplied by you or otherwise to the Bank and/or its agents)(the
 “Information”). The Bank may disclose in such manner and under such circumstances as the Bank deems fit, such details for
any purpose the Bank deems appropriate, necessary or desirable to:-

 

		(a)	any person or organisation providing electronic or other services to the Bank, for the purpose of providing, updating, maintaining
and upgrading services;

 

		(b)	any person or organisation engaged for the purpose of performance of services or operational functions where these have been outsourced;

 

		(c)	the Bank’s agents for the purpose of printing cheques, statements, advices correspondence or any other related document;

 

		(d)	the police or any public officer conducting an investigation;

 

		(e)	any of the Bank’s branches, representative offices, affiliated, associated or related corporations and their respective officers,
servants and agents, whether in Singapore or elsewhere (collectively, “UOB Group Members”);

 

		(f)	the auditors and professional advisors including lawyers;

 

		(g)	any actual or potential assignee in relation to any banking facility;

 

		(h)	any actual or potential participant or sub-participant relating to any obligation under any banking agreement between you and the
Bank, or assignee, novatee or transferee;

 

		(i)	any person who has agreed to provide or is providing security to the Bank for any moneys payable and liabilities owing by you to the
Bank;

 

		(j)	any person who stands as guarantor or surety for your liability or is jointly or jointly and severally liable to the Bank with you;

 

		(k)	any receiver appointed by the Bank;

 

		(l)	any other banks, financial institutions, credit bureau or credit reference agents of which the Bank is a member, any other members
and/or compliance committee of such bureau;

 

    Page 5 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		(m)	any rating agency, business alliance partner, insurance company, insurer or insurance broker or
direct or Indirect provider of credit protection;

 

		(n)	any stock exchange, court or other judicial bodies in any judicial proceeding, tribunal, statutory body, agency or authority (including
any tax authority in any country), whether governmental or quasi-governmental;

 

		(o)	any person to whom the Bank or any of the UOB Group Members is required to disclose to under any law, regulation, guideline, directive
or by any lawful authority, of any country, and

 

		(p)	any other person to whom such disclosure is considered by the Bank to be necessary, desirable or expedient, or in the interest of
the Bank and/or any of the UOB Group Members.

 

		(ii)	Without prejudice to the preceding provision and where the banking facilities relate to hire purchase, block discounting and/or dealer’s
stock facilities:-

 

		(a)	you additionally irrevocably consent and
                                            authorise the Bank to disclose, without prior reference to you the Information to the Hire
                                            Purchase, Finance and Leasing Association of Singapore (“HPFLAS”), the
                                            Land Transport Authority (“LTA”) and any other relevant governmental authority
                                            and any successor/s of the said organizations.

 

		(b)	you hereby irrevocably consent:-

 

		(1)	to any credit bureau or credit reference agents referred to in clause (i)(l) above disclosing to parties such Information which the
credit bureau or credit reference agent is permitted to disclose to by law for the purposes of the assessment of your credit-worthiness.

 

		(2)	to the HPFLAS, the LTA and any other relevant organization and any such successor disclosing the Information to its members or officers.

 

		(3)	that LTA may, upon receipt of any request to register, transfer or de-register the goods described in your Hire Purchase Agreement(s)
(the “Goods”) that you now have or may in future have with the Bank, seek clarification from the HPFLAS regarding the financing
status of such Goods.

 

		(4)	that LTA may, upon the request of the Bank and the Bank’s fulfilment of any requirements as may be stipulated by LTA, temporarily
suspend (for such period as may be determined by LTA) or refuse any such transfer or de-registration of the Goods or transaction relating
to the PARF/COE rebates in respect of the Goods You acknowledge and agree that this clause shall be enforceable by LTA.

 

		(b)	Negative Pledge

 

You shall not, without the Bank’s prior
written consent, create or permit to arise or subsist any mortgage, charge (whether fixed or floating), pledge, lien, hypothecation, assignment
or any other encumbrance whatsoever over any of your properties and assets or any part thereof both present and future, whatsoever and
wheresoever situate or factor any of your accounts receivables, except in favour of the Bank.

 

		(c)	Pari-Passu Ranking

 

You shall ensure that all obligations and
liabilities under this Facility Letter shall at all times rank ahead of, or otherwise at least pari-passu in all respects with all your
other present and future unsecured and unsubordinated obligations and liabilities to other creditors.

 

    Page 6 of 13

     

    

 

 

 

		Ref.	: 118454/BizMoney

 

		(d)	Changes In Circumstances

 

If at any time, in the Bank’s opinion,
as a result of:-

 

Increased Cost & Illegality

 

		(i)	the introduction of or any change in, or in the interpretation, administration or application of or compliance with, any law, order,
regulation or directive:-

 

		(1)	there is an increase in the cost to the Bank of funding or maintaining the BizMoney Loan or any banking facility or a reduction in
the amount of any sum received by or receivable by the Bank or an obligation is imposed on the Bank to make any payment on, or calculated
by reference to, the amount of any sum received or receivable by the Bank, you shall on demand pay to the Bank such sums determined by
the Bank as necessary to compensate the Bank for such increased cost, reduction or payment; or

 

		(2)	it is or will become unlawful or illegal for the Bank to maintain or fund any part of the BizMoney Loan or other banking facilities
or to carry out any of its obligations, and/or to charge or receive interest at the rate(s) applicable, such part of the BizMoney Loan
or other banking facilities shall be terminated and the Bank’s obligations shall cease, and you shall on demand prepay the BizMoney
Loan and/or such other banking facilities,

 

Unavailability of Currency

 

		(ii)	any change in:-

 

		(1)	the international financial and capital markets,

 

		(2)	any national or international, political or economic conditions,

 

		(3)	currency availability, or

 

		(4)	exchange rates or controls,

 

the currency offered under the BizMoney
Loan or other banking facility is not available to the Bank, (i) your request for such currency to be disbursed shall be deemed withdrawn;
and (ii) any existing amount disbursed in such currency for an interest period shall not be rolled over and shall be repaid on the last
day of the interest period, and you may request for an alternative currency to be disbursed on terms to be agreed.

 

		(e)	General Indemnity Clause

 

You hereby unconditionally and irrevocably
undertake to keep the Bank fully indemnified from and against all liabilities, claims, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses and disbursements of any kind whatsoever, legal or otherwise, on a full indemnity basis, which the Bank
may at any time and from time to time sustain, suffer or incur under, in connection with or arising out of all banking facilities (including,
but not limited to, the BizMoney Loan) granted to you by the Bank.

 

		(f)	Operating Account. Cash Management Activities and Banking Transactions

 

You shall maintain at least an operating
account (the “Operating Account”) with the Bank for the purposes of your banking transactions for so long as any sum remains
owing or unpaid under the banking facilities. You will:-

 

		(i)	utilize the services provided by the Bank in connection with
the Operating Account and conduct your banking transactions through the Bank using the Operating Account; and

 

    Page 7 of 13

     

    

 

 

 

 

	Ref.	: 118454/BizMoney

 

		(ii)	channel a proportionate amount of your cash management activities and banking transactions (including, but not limited to, transactions
pursuant to treasury requirements, payments and collections, trade collections and export letters of credit), and the cash balances that
come with it, to the Bank.

 

The volume of your banking transactions (including,
but not limited to, transactions pursuant to treasury requirements, payments and collection, trade collections and export letters of credit),
and cash management activities shall commensurate with the amount of the banking facilities granted.

 

		(g)	The Contracts (Rights of Third Parties) Act (Cap 53B)

 

A person who is not a party to this Facility
Letter shall have no right under The Contracts (Rights of Third Parties) Act (Cp 53B) of Singapore to enforce of enjoy any term or benefit
of this Facility Letter.

 

		(h)	Variation of Interest Rate and Fees and Charges

 

The Bank may vary from times to time at the
Bank’s absolute discretion, the BizMoney Interest Rate, and the fees and charges payable on the BizMoney Loan and the Operating
Account.

 

		(i)	Bank’s Right of Review

 

Notwithstanding anything herein, the BizMoney
Loan, banking facilities and convenants (if any) are subject to review by the Bank at any time at the Bank’s absolute discretion.

 

In this connection, you shall (and shall
procure that the Corporate Guarantor (if any) shall) forward to the Bank the audited annual financial reports immediately upon receipt
from the auditors for each financial year. Upon the review of the BizMoney Loan, banking facilities and covenants (if any), the Bank shall
have the right at the Bank’s absolute discretion to vary, modify, terminate, reduce, suspend or cancel any of the banking facilities
and/or to demand immediate repayment of all moneys and liabilities owing to the Bank under the banking facilities (whether actual, contingent
or otherwise).

 

Provided that the Bank will not demand immediate
repayment of the BizMoney Loan unless otherwise provided in this Facility Letter or the Standard Terms or if there is a breach of any
term or condition of any document executed (whether for the provision of security of otherwise) in connection with or arising from this
Facility Letter.

 

		(j)	Financial Crime

 

We shall be entitled to take all actions
we consider appropriate in order for us to meet any obligation or requirement, either in Singapore or elsewhere, in connection with the
detection, investigation and prevention of financial crime including fraud, money laundering, terrorism financing, bribery, corruption,
or tax evasion or the enforcement of any economic or trade sanction (“Financial Crime”).

 

You understand and agree that if any activities,
conduct or circumstances you are involved in (directly or indirectly) may, in the sole and absolute discretion of the Bank, expose the
Bank to legal or reputational risk, or actual or potential regulatory or enforcement actions, we shall at any time without giving any
reason or notice to you, have the right to immediately:-

 

		(i)	close all accounts and terminate all services you have with us;

		(ii)	delay, block or refuse the making or clearing of any payment, the processing of instructions or the application for services or the
provision of all or part of the services;

		(iii)	terminate and/or recall any or all advances or loans, credit or other financial or the BizMoney Loan or banking facilities (committed
or uncommitted), accommodation, financial assistance or services and demand repayment of all sums outstanding; or

		(iv)	make reports and take such other actions as we may deem appropriate.

 

    Page 8 of 13

     

    

  

 

 

	Ref.	: 118454/BizMoney

 

You undertake that you will not initiate,
engage in or effect a transaction (directly or indirectly) that may involve Financial Crime and agree to hold us harmless, indemnify us
and keep us indemnified from and against any and all liabilities, claims, obligation, losses, damages, penalties, actions, judgments,
suits, costs (including, but not limited to, legal costs on a full indemnity basis), expenses and disbursements of any kind whatsoever
which we may suffer or incur in connection with or arising from any breach by you of this undertaking.

 

		(k)	You shall not make any substantial alteration to the nature of your business (Biz Services-Business Not Elsewhere CI) or amend or
alter any of the provisions of your Constitution or any corporate documents relating to your borrowing powers and principal activities.

 

		(l)	You shall ensure that the Operating Account is not overdrawn, even temporarily, in excess of the credit balance therein or the overdraft
facility (if any) granted by the Bank, save where the Bank allows otherwise in its absolute discretion or by prior written arrangement
with the Bank, such arrangement to be subject to such terms and conditions as the Bank may determine, In the event that the Operating
Account is overdrawn in excess amount together with interest thereon, if any.

 

		(m)	For the avoidance of doubt, the Bank may impose such terms and conditions and/or levy such fees as it deems fit for any consent and/or
waiver sought from the Bank in relation to any of the terms and conditions of the baking facilities.

 

		(n)	On your acceptance of this Facility Letter, you accept and agree that you will bear all costs, fees, expenses and other charges, legal
or otherwise, arising from or in connection with the preparation execution, registration and deregistration of all documents (including
security documents) required by the Bank and the realisation or enforcement of any of the Bank’s right herein or under any of the
security documents and the processing, implementation and recovery of the BizMoney Loan and other banking facilities, including, without
limitation, the stamp duty, cause book search fees, the Bank’s solicitors’ costs (as between solicitors and clients), This
clause shall be effective notwithstanding any cancellation or revocation of any of the banking facilities at any time after acceptance
of this Facility Letter.

 

		(o)	Personal Data

 

With regard to any personal data provided
to and/or collected by the Bank from time to time in, connection with the BizMoney Loan, you represent and warrant to the Bank that:-

 

		(i)	you have complied with all applicable personal date protection laws, regulations, guidelines and codes of practice;

 

		(ii)	consent of the individual concerned has been obtained for the collection, use and disclosure of the individuals personal data for
the purposes described in the Bank’s Privacy Notice (Corporate), a copy of which is available at www.uob.com.sg and at the Bank’s
branches and

 

		(iii)	the personal data is accurate and complete.

 

This representation and warranty is repeated
whenever personal data is provided to the Bank.

 

		(p)	Debiting of Accounts

 

All instalment payments, capital repayments
(and interest thereon), commissions, costs fees (including, but not limited to. installment payments, capital repayments and interest
thereon) charges and expenses shall be debited from your Operating Account or such other accounts maintained with the Bank unless you
have arranged with the Bank to pay by cheque or other mode of payment acceptable to the Bank.

 

    Page 9 of 13

     

    

 

 

 

	Ref.	: 118454/BizMoney

 

		(q)	You shall promptly notify the Bank in writing if any information given by you to the Bank becomes inaccurate or misleading or changes
in any way whilst the BizMoney Loan or banking facilities are still outstanding

 

		(r)	You shall supply any additional information and documentary proof as the Bank may require from time to time in connection with the
BizMoney Loan or banking facilities.

 

		(s)	You shall execute all documents and instruments and do all acts and things as may be required by the Bank from time to time in connection
with the BizMoney Loan or banking facilities.

 

		6.	INSTRUCTIONS / MANDATE

 

Instruction in relation to the BizMoney Loan shall be in
writing and in accordance with your mandate. Arrangements for any other mode of instructions shall be at your risk, and the Bank shall
not be liable for any loss or liability suffered by you as a result thereof.

 

		7.	GOVERNING LAW

 

This Facility Letter and all matters (including the settlement
of any dispute) arising out of or in connection with this Facility Letter (including a dispute regarding its existence or validity) (“Dispute”)
shall be governed by and construed in accordance with the laws of Singapore. You irrevocably agree for the benefit of the Bank that the
courts of Singapore shall have exclusive jurisdiction to hear, determine and settle any Dispute and, for such purposes, irrevocably submit
to the exclusive jurisdiction of the courts of Singapore and waive any immunity or objection which you may now or hereafter have to the
courts of Singapore being the forum to hear, determine and settle any Dispute and agree not to claim that any such court is an inconvenient
or inappropriate forum.

 

		8.	COVENANT

 

		(a)	So long as any sum remains or may be outstanding under the banking facilities, there shall be no direct or indirect change of control
in the shareholding or management of your company, as determined by the Bank in its absolute discretion. In the event of a change, prior
written consent from the Bank shall be required and the Bank shall be entitled to impose such terms and conditions as it deems fit, including
and levying of a charge equivalent to the prepayment fee or such other amount as may be advised by the Bank.

 

		(b)	For the avoidance of doubt, the Bank may impose such terms and conditions and/or levy such fees as it deems fit for any consent and/or
waiver sought from the Bank in relation to any of the terms and conditions of the banking facilities.

 

		9.	SERVICE OF PROCESS

 

You agree that in the event any legal
proceeding relating to, arising out of and/or in connection with the Dispute is commenced, the process by which it is begun may be served
on you by registered post or certified prepaid post at its place of business or the last address known to the Bank (and in this connection
the Bank shall be entitled to rely on the records kept by the Bank or that of any registry or government or statutory authority). Any
process served as described in this clause shall be deemed to have been duly served on you. Nothing herein shall affect the Bank’s
right to serve process in any other manner permitted by law.

 

    Page 10 of 13

     

    

 

 

 

	Ref.	: 118454/BizMoney

 

	10.	AMENDMENT OF TERMS AND CONDITIONS/WAIVERS

 

The Bank may amend, add to, or delete any provision of this
Facility Letter at its absolute discretion. No forbearance, neglect or waiver by the Bank in the enforcement of any provision of this
Facility Letter shall prejudice its rights to subsequently enforce such provision.

 

	11.	KNOW YOUR CUSTOMER CHECKS

 

This offer is subject to the Bank performing “Know
Your Customer” (KYC) due diligence on you and/or any of your directors, shareholders, beneficial owners, employees or agents and/or
any third party security provider, and being satisfied with the results thereof. If the results are not satisfactory, this offer shall
lapse notwithstanding your acceptance.

 

If the terms and conditions of this Facility Letter are acceptable
to you, please confirm your acceptance by delivering to the Bank:-

 

	(i)	the duplicate of this Facility Letter with the acceptance portion duly signed by your authorized signatory(ies);

 

	(ii)	an up-to-date copy of your Constitution certified as a true copy by any director or company secretary or such person acceptable to
the Bank;

 

	(iii)	an extract of your Board Resolution (a sample resolution is attached hereto for your adoption) certified as a true copy by two directors
or by a director and the company secretary unless your Constitution provides for certification by a director or the company secretary
singly;

 

all within fourteen (14) days from the date hereof, failing which this
offer shall lapse, unless otherwise agreed by the Bank.

 

If you require any clarification, please call
your Business Financial Manager, Kwa Shaw Ming at 98289237 or alternatively, our Service Hotline
at 6259 8188.

 

We are pleased to be of service to you.

 

Yours faithfully

for United Overseas bank Limited

 

	/s/
    Kwa Shaw Ming	 	/s/
    Shane Tan Joon Kwang
	Name:	Kwa Shaw Ming	 	Name:	Shane
    Tan Joon Kwang
	Ranking/Designation:	BFM	 	Ranking/Designation:	Acquisition
    Team Head
	Business
    Banking	 	 	Business
    Banking	Business
    Banking - City
	Group
    Retail	 	 	Group
    Retail	 

 

    Page 11 of 13

     

    

 

 

 

	Ref.	: 118454/BizMoney

 

ACCEPTANCE

 

	To:	UNITED
  OVERSEAS BANK LIMITED

 

	1.	We hereby accept your above offer of banking facilities and acknowledge receipt of a copy of the Standard Terms and Conditions Governing
banking Facilities (ref: CR-133.2(R10.17)).

 

	2.	We hereby consent to the Bank’s disclosure of any information whatsoever concerning any matter or transaction in relation to
any banking facility from time to time granted by the Bank, any security relating thereto and any information whatsoever regarding our
accounts or affairs in accordance with the Bank’s right of disclosure provided in this Facility Letter and the Standard Terms.

 

	3.	We enclose herewith a certified true extract of our Board Resolutions
accepting the above offer,

 

		 ̈	as
well as an up-to-date copy of our Constitution, certified as a true copy;

 

OR

 

		 ̈	and confirm that there has been no amendment made to our Constitution since
the last time that we provided a certified true copy of our Constitution to the Bank.

 

	4.	We authorize the Bank to obtain from any credit bureau and/or the CPF Board, all the information relevant to the grant of the banking
facilities referred to in this Facility Letter to us.

 

	5.	We agree that in the event that the result(s) obtained from any check with any credit bureau or the CPF Board is/are not to the satisfaction
of the Bank, then the bank may, in its absolute discretion and at any time, exercise its right to revise, reduce, recall and/or cancel
the banking facilities referred to in this Facility Letter.

 

	6.	We hereby authorize and give the Bank our irrevocable consent to:-

 

		 ̈	Disburse
                                            the BizMoney Loan to our existing Operating Account with UOB (current account no.                                         )
                                            and to debit all commissions, costs, fees, charges and expenses (including, but not limited
                                            to, instalment payments, capital repayments and interest thereon) from the Operating Account
                                            or any other account(s) which we have or may have with the Bank.

 

OR

 

		 ̈	Disburse the BizMoney Loan to our operating account with UOB, which will
be opened by us with the Bank pursuant to the completed Account Opening Forms forwarded together with this Facility letter, and to debit
all commissions, costs, fees, charges and expenses (including, but not limited to, instalment payments, capital repayments and interest
thereon) from the said operating account or any other account(s) which we have or may have with the Bank.

 

	7.	Where Facility Letter is issued to Borrower which is a Sole Proprietorship set up by an Individual

 

I hereby confirm that, where the Bank makes available the
execution of this Facility Letter by me in an electronic form, my electronic signature(s) is the legal equivalent of my manual signature(s)
on this Facility Letter and I have read, understood and agree to be bound by the prevailing UOB Electronic Signature Service Terms (available
at uob.com.sg/esign and at the bank’s branches).

 

    Page 12 of 13

     

    

 

 

 

 

	Ref.	: 118454/BizMoney

 

		Where Facility Letter is issued to Borrower which is a Sole
Proprietorship set up by a Company or which is a Partnership

 

We hereby confirm that, where the Bank makes available the execution
of this Facility Letter by us though our authorized signatory(ies) in an electronic form, our authorized signatory’s(ies’)
electronic signature(s) are the legal equivalent of his/her/their manual signature(s) on this Facility Letter and we have read, understood
and agree to be bound by the prevailing UOB Electronic Signature Service Terms (available at uob.com.sg/esign and at the Bank’s
branches).

 

		Where Facility Letter is issued to Borrower which is a Company

 

We hereby confirm that, where the Bank makes available the execution
of this Facility Letter by us though our authorized signatory(ies) in an electronic form, our authorized signatory’s(ies’)
electronic signature(s) are the legal equivalent of his/her/their manual signature(s) on this Facility Letter and we have read, understood
and agree to be bound by the prevailing UOB Electornic Signature Service Terms (available at uob.com.sg/esign and at the Bank’s
branches).

 

	 	/s/ ILLEGIBLE	 
	 	Signed
    for and on behalf of WEALTH DYNAMICS PTE. LTD.	 
	 	Date:	 

 

    Page 13 of 13

     

    

 

	
     

     

     

     

     

      
	United
    Overseas Bank Limited
	 
	HEAD
    OFFICE
	80
    Raffles place UOB Plaza
	Singapore
    048624
	Tel
    (65) 6533 9898 Fax (65) 6534 2334
	Uobgroup.com
	 
	Co.
    Reg. No. 193500026Z

 

	Ref.	: 118454/SME WCL

 

12 September 2019

 

PRIVATE & CONFIDENTIAL

 

WEALTH DYNAMICS PTE. LTD.

3 TEMASEK AVENUE

# 18-15 CENTENNIAL TOWER

SINGAPORE 39190

 

Dear Sirs,

 

BANKING FACILITIES

 

We (“the
Bank”) are pleased to offer you the following banking facilities for your use subject to the terms and conditions stated
herein and subject also to the Standard Terms and Conditions Governing Banking Facilities annexed to this Facility Letter
(“the Standard Terms”). In the event of any inconsistency between the terms and conditions herein and the Standard
Terms, the terms and conditions herein shall prevail:-

 

		1.	LINE OF CREDIT

 

		S$300,000-00	:	Singapore Dollars Three Hundred Thousand Only

 

Within Line

 

		S$300,000-00	:	For 60-month SME Working Capital Loan (SME WCL) under Local Enterprise Financing Scheme (LEFS).

 

		2.	SECURITIES

 

The banking facilities and all moneys and
liabilities (whether actual, contingent or otherwise) owing and/or payable by you from time to time shall be secured by the following
in form and substance satisfactory to the Bank:-

 

Personal Guarantee (Limited) for S$300,000-00
to be executed by ROGER JAMES HAMILTON (NRIC No. S6883456B).

 

We enclose herewith the Bank’s standard
Guarantee form(s) to be duly signed by the Guarantor(s) before a witness who may be an Advocate and Solicitor / Certified Public Accountant
/ Commissioner for Oaths / Notary Public / Company Secretary.

 

Where the Guarantee is executed outside
Singapore, it must be executed before a Notary Public or a Singapore Consular Officer located at the place of execution.

 

		3.	AVAILABILITY/CONDITIONS PRECEDENT

 

The line of credit is available for drawdown
subject to the following conditions precedent being fulfilled to the Bank’s satisfaction, and the Bank’s receipt of documents
in form and substance acceptable to the Bank:-

 

		3.1	Delivery to the Bank of:-

 

SINGAPORE CHINA INDIA INDONESIA MALAYSIA
PHILIPPINES THAILAND AUSTRALIA BRUNEI CANADA FRANCE HONG KONG JAPAN MYANMAR SOUTH KOREA TAIWAN UNITED KINGDOM USA VIETNAM

 

    Page 1 of 11

     

    

 

 

 

Ref.         : 118454/SME WCL

 

		(a)	your latest Constitution, certified as a true copy by any director or company secretary or such person acceptable to the Bank; and

 

		(b)	an extract of your Board Resolution in form and substance satisfactory to the Bank, certified as true copies by two directors or by
a director and the company secretary unless your Constitution provide for certification by a director or the company secretary singly.

 

		3.2	The security documents shall have been signed and completed in form and substance satisfactory to the Bank and registered with the
appropriate authority.

 

		3.3	Such other documents and/or conditions precedent as the Bank may require.

 

		4.	TERMS APPLICABLE TO SME WCL

 

		4.1	Purpose

 

The SME WCL shall be used for your working
capital requirements and shall be disbursed into your Operating Account maintained with the Bank.

 

		4.2	Availability Period

 

The SME WCL shall be available for drawdown
within six (6) months from date of this Facility Letter subject to approval by Enterprise Singapore and completion of all necessary documentation
subject to the terms and conditions of this Facility Letter. Any extension shall be subject to the Bank’s and Enterprise Singapore’s
approval.

 

		4.3	Drawdown

 

The SME WCL shall be drawndown in one tranche
upon completion of all documentation and such conditions precedent as the Bank may require by giving the Bank seven (7) business days
prior written notice of the intended drawdown.

 

		4.4	Interest

 

Interest is fixed at 6.25% per annum (“prescribed
rate”) or such other rate as may be approved by Enterprise Singapore under LEFS.

 

Default Interest: In the event of default
or delay in repayment of the instalment, a default interest of 3.50% per annum over the prescribed rate is chargeable on the overdue instalment.

 

		4.5	Repayment

 

The SME WCL shall be repaid over 5-year
by 60 monthly instalments (comprising principal and interest), based on the interest rate(s) set out above.

 

The first of such monthly instalments shall
be payable one (1) month from the date of first drawdown of the SME WCL or part thereof. Subsequent monthly instalments shall be payable
on the same day of each succeeding month.

 

The sum of the monthly instalments payable
will be revised if there is a change in the interest rate. The Bank may also, by agreement with you, change the monthly instalment amount
and repayment period.

 

Please ensure that there are sufficient
funds in your Operating Account maintained with the Bank to service your monthly instalments.

 

    Page 2 of 11

     

    

 

 

 

Ref.         :
118454/SME WCL

 

		5.	negative
                                            PLEDGE

 

You
shall not, without the Bank’s prior written consent, create or permit to arise or subsist any mortgage, charge (whether fixed or
floating), pledge, lien, hypothecation, assignment or any other encumbrance whatsoever over any of your properties and assets or any
part thereof both present and future, whatsoever and wheresoever situate or factor any of your accounts receivables, except in favour
of the Bank.

 

		6.	pari-passu
                                            ranking

 

You
shall ensure that all obligations and liabilities under this Facility Letter shall at all times rank ahead of, or otherwise at least
pari-passu in all respects with, all your other present and future unsecured and unsubordinated obligations and liabilities to other
creditors.

 

		7.	FACILITY
                                            FEE

 

A
non-refundable facility fee of S$3,000-00 is payable upon acceptance of this Facility Letter and approval of loan by Enterprise Singapore.
The Facility Fee shall be deducted by the Bank from the SME WCL prior to disbursement.

 

		8.	SPECIAL
                                            TERMS AND CONDITIONS

 

		8.1	The
                                            facilities under this Line of Credit shall be subject to you observing and fully satisfying
                                            and fulfilling at all times such terms and conditions and criteria as Enterprise Singapore
                                            may specify from time to time including without limitation, the following:-

 

		a.	You
                                            shall not allow any change exceeding fifty percent (50%) in legal or beneficial ownership
                                            of your company from that stated in your application to Enterprise Singapore except with
                                            the prior written approval of the Bank and Enterprise Singapore.

 

		b.	You
                                            shall have at all times, a minimum of thirty per cent (30%) active local participation and
                                            ownership, except with the prior written approval of the Bank and Enterprise Singapore.

 

		c.	You
                                            shall allow Enterprise Singapore’s representatives at all reasonable times to examine
                                            and make copies of all your records relating to the LEFS and shall afford such representatives
                                            all such assistance for this purpose as they may require.

 

You
undertake to inform the Bank immediately upon you being unable to observe, satisfy and/or fulfill any of the terms and conditions and
criteria as Enterprise Singapore may specify from time to time, including without limitation, those stated above.

 

		8.2	If
                                            the Bank determines in its sole discretion that you have failed to observe and fully satisfy
                                            all the terms and conditions and criteria of Enterprise Singapore including those set out
                                            in this clause, the Bank shall notify you of the same and you shall upon such notification
                                            immediately repay the Bank all moneys outstanding under the line of credit. Should you fail
                                            to repay forthwith upon notification, the Bank shall be entitled to charge interest on the
                                            unpaid amount at 3.50% per annum above the average prevailing prime rate as reported by the
                                            Monetary Authority of Singapore compounded on a monthly basis or such other rate as may be
                                            determined by Enterprise Singapore, until full payment has been received.

 

		8.3	In
                                            the event Enterprise Singapore does not approve any facility herein, you shall, on demand
                                            refund any amount disbursed under the facility together with default interest calculated
                                            in the manner described above and any other costs and expenses (including but not limited
                                            to legal costs on an indemnity basis) incurred by Enterprise Singapore and/or the Bank in
                                            recovering the amount disbursed.

 

    Page 3 of 11

     

    

 

 

 

Ref.        : 118454/SME WCL

 

		9.	GOVERNING LAW

 

This Facility Letter and all matters (including
the settlement of any dispute) arising out of or in connection with this Facility Letter (including a dispute regarding its existence
or validity) (“Dispute”) shall be governed by and construed in accordance with the laws of Singapore. You irrevocably agree
for the benefit of the Bank that the courts of Singapore shall have exclusive jurisdiction to hear, determine and settle any Dispute and
for such purposes, irrevocably submit to the exclusive jurisdiction of the courts of Singapore and waive any immunity or objection which
you may now or hereafter have to the courts of Singapore being the forum to hear, determine and settle any Dispute and agree not to claim
that any such court is an inconvenient or inappropriate forum.

 

		10.	COVENANTS

 

So long as any sum remains or may be outstanding
under the banking facilities, there shall be no direct or indirect change of control in the shareholding or management of your company,
as determined by the Bank in its absolute discretion. In the event of a change, prior written consent from the Bank shall be required
and the Bank shall be entitled to impose such terms and conditions as it deems fit, including the levying of a charge equivalent to the
prepayment fee or such other amount as may be advised by the Bank.

 

Your compliance with the above covenant
will be assessed during the Bank’s periodic review of the account.

 

		11.	OTHER TERMS & CONDITIONS

 

		(i)	Changes In Circumstances

 

If at any time, in the Bank’s opinion, as
a result of:-

 

Increased Cost & Illegality

 

		(a)	the introduction of or any change in, or in the interpretation, administration or application of, or compliance with, any law, order,
regulation or directive:-

 

		(i)	there is an increase in the cost to the Bank of funding or maintaining any banking facility or a reduction in the amount of any sum
received by or receivable by the Bank or an obligation is imposed on the Bank to make any payment on, or calculated by reference to, the
amount of any sum received or receivable by the Bank, you shall on demand pay to the Bank such sums determined by the Bank as necessary
to compensate the Bank for such increased cost, reduction or payment; or

 

		(ii)	it is or will become unlawful or illegal for the Bank to maintain or fund any part of the banking facilities or to carry out any of
its obligations, and/or to charge or receive interest at the rate(s) applicable, such part of the banking facilities shall be terminated
and the Bank’s obligations shall cease, and you shall on demand prepay all such banking facilities,

 

Unavailability of Currency

 

		(b)	any change in, (i) the international financial and capital markets, (ii) any national or international, political or economic conditions,
(iii) currency availability, (iv) exchange rates or controls, the currency offered under any banking facility is not available to the
Bank:-

 

		(i)	your request for such currency to be disbursed shall be deemed withdrawn; and

 

		(ii)	any existing amount disbursed in such currency for an interest period shall not be rolled over and shall be repaid on the last day
of the interest period,

 

and you may request for an alternative currency
to be disbursed on terms to be agreed.

 

    Page 4 of 11

     

    

 

 

 

Ref.        : 118454/SME WCL

 

(ii)       Disclosure
of Information

 

		(a)	You irrevocably consent and authorize the Bank to disclose, without prior
reference to you any information and particulars relating to you, any of your accounts (whether held alone or jointly), your credit standing
and financial position, any transaction or dealing between you and the Bank, any facility granted to you, any publicly available information,
or this Facility Letter together with any information relating to this transaction (whether the same is supplied by you or otherwise to
the Bank and/or its agents) (the “Information”). The Bank may disclose in such manner and under such circumstances as the
Bank deems fit, such details for any purpose the Bank deems appropriate, necessary or desirable to:-

 

		(i)	any person or organisation providing electronic or other services to the Bank, for the purpose of providing, updating, maintaining
and upgrading services;

 

		(ii)	any person or organisation engaged for the purpose of performance of services or operational functions where these have been outsourced;

 

		(iii)	the Bank’s agents for the purpose of printing cheques, statements, advices correspondence or any other related document;

 

		(iv)	the police or any public officer conducting an investigation;

 

		(v)	any of the Bank’s branches, representative offices, affiliated, associated or related corporations and their respective officers,
servants and agents, whether in Singapore or elsewhere (collectively, “UOB Group Members”);

 

		(vi)	the auditors and professional advisors including lawyers;

 

		(vii)	any actual or potential assignee in relation to any banking facility,

 

		(viii)	any actual or potential participant or sub-participant relating to any obligation under any banking agreement between you and the
Bank, or assignee, novatee or transferee;

 

		(ix)	any person who has agreed to provide or is providing security to the Bank for any moneys payable and liabilities owing by you to the
Bank;

 

		(x)	any person who stands as guarantor or surety for your liability or is jointly or jointly and severally liable to the Bank with you;

 

		(xi)	any receiver appointed by the Bank;

 

		(xii)	any other banks, financial institutions, credit bureau or credit reference agents of which the Bank is a member, any other members
and/or compliance committee of such bureau;

 

		(xiii)	any rating agency, business alliance partner, insurance company, insurer or insurance broker or direct or indirect provider of credit
protection;

 

		(xiv)	any stock exchange, court or other judicial bodies in any judicial proceeding, tribunal, statutory body, agency or authority (including
any tax authority in any country), whether governmental or quasi-governmental;

 

		(xv)	any person to whom the Bank or any of the UOB Group Members is required to disclose to under any law, regulation, guideline, directive
or by any lawful authority, of any country, and

 

		(xvi)	any other person to whom such disclosure is considered by the Bank to be necessary, desirable or expedient, or in the interest of
the Bank and/or any of the UOB Group Members.

 

    Page 5 of 11

     

    

 

 

 

	Ref.	: 118454/SME WCL

 

		(b)	Without prejudice to the preceding provision and where the banking facilities relate to hire purchase, block discounting and/or dealer’s
stock facilities:-

 

		(i)	you additionally irrevocably consent and authorize the Bank to disclose, without prior reference to you the Information to the Hire
Purchase, Finance and Leasing Association of Singapore (“HPFLAS”), the Land Transport Authority (“LTA”)
and any other relevant governmental authority and any successor/s of the said organizations.

 

		(ii)	you hereby irrevocably consent:-

 

		(1)	to any credit bureau or credit reference agents referred to in clause (a) (xii) above disclosing to parties such Information which
the credit bureau or credit reference agent is permitted to disclose to by law for the purposes of the assessment of your credit-worthiness.

 

		(2)	to the HPFLAS, the LTA and any other relevant organization and any such successor disclosing the Information to its members or officers.

 

		(3)	that LTA may, upon receipt of any request to register, transfer or de-register the goods described in your Hire Purchase Agreements(s)
(the “Goods”) that you now have or may in future have with the Bank, seek clarification from the HPFLAS regarding the financing
status of such Goods.

 

		(4)	that LTA may, upon the request of the Bank and the Bank’s fulfilment of any as may be stipulated by LTA, temporarily suspend
(for such period as may be determined by LTA) or refuse any such transfer or de-registration of the Goods or transaction relating the
PARF/COE rebates in respect of the Goods. You acknowledge and agree that this clause shall be enforceable by LTA.

 

(iii)       General
Indemnity Clause

 

You hereby unconditionally and irrevocably
undertake to keep the Bank fully indemnified from and against all liabilities, claims, obligations, losses, damages, penalties, actions,
judgments, suits, costs expenses and disbursements of any kind whatsoever, legal or otherwise, on a full indemnity basis, which the Bank
may at any time and from time to time sustain, suffer or incur under, in connection with or arising out of the banking facilities.

 

(iv)       Operating
Account, Cash Management Activities and Banking Transactions

 

You shall maintain at least an operating
account (the “Operating Account”) with the Bank for the purposes of your banking transactions for so long as any sum remains
owing or unpaid under the banking facilities. You will:-

 

		(a)	utilize the services provided by the Bank in connection with the Operating Account and conduct your banking transactions through the
Bank using the Operating Account; and

 

		(b)	channel a proportionate amount of your cash management activities and banking transactions (including, but not limited to, transactions
pursuant to treasury requirements, payments and collections, trade collections and export letters of credit), and the cash balances that
come with it, to the Bank.

 

The volume of your banking transactions
(including, but not limited to, transactions pursuant to treasury requirements, payments and collections, trade collections and export
letters of credit), and cash management activities shall commensurate with the amount of the banking facilities granted.

 

    Page 6 of 11

     

    

 

 

 

		Ref.	:
                                            118454/SME WCL

 

		(v)	The Contracts (Rights of Third Parties) Act (Cap 53B)

 

A person who is not a party to this Facility
Letter shall have no right under The Contracts (Rights of Third Parties) Act (Cap 53B) of Singapore to enforce or enjoy any term or benefit
of this Facility Letter.

 

		(vi)	Variation of Interest Rate

 

The Bank may very from time to time at
the Bank’s absolute discretion, the rates of interest payable, on any of the banking facilities herein and also on any amount not
paid on due dates or overdrawn in excess of the approved limit.

 

		(vii)	Know your Customer Checks

 

This offer is subject to the Bank performing
 “Know Your Customer” (KYC) due diligence on your and/or any of your directors, shareholders, beneficial owners, employees
or agents and/or any third party security provider, and being satisfied with the results thereof. If the results are not satisfactory,
this offer shall lapse notwithstanding your acceptance.

 

(viii)       Personal
Data

 

With regard to any personal data provided
to and/or collected by the Bank from time to time in connection with the banking facilities, you represent and warrant to the Bank that:-

 

		(a)	you have complied with all applicable personal data protection laws, regulations, guidelines and codes of practice;

 

		(b)	consent of the individual concerned has been obtained for the collection, use and disclosure of the individual’s personal data
for the purposes described in the Bank’s Privacy Notice (Corporate), a copy of which is available at www.uob.com.sg and at
the Bank’s branches; and

 

		(c)	the personal data is accurate and complete.

 

This representation and warranty is repeated whenever
personal data is provided to the Bank.

 

(ix)       Bank’s
Right of Review

 

Notwithstanding anything herein, the
banking facilities and covenants (if any) are subject to review by the Bank at any time at the Bank’s absolute discretion.

 

In this connection, you shall (and shall
procure that the Corporate Guarantor (if any) shall) forward to the Bank the audited annual financial reports immediately upon receipt
from the auditors for each financial year. Upon the review of the banking facilities and covenants (if any), the Bank shall have the right
at the Bank’s absolute discretion to vary, modify, terminate, reduce, suspend or cancel any of the banking facilities and/or to
demand immediate repayment of all moneys and liabilities owing to the Bank under the banking facilities (whether actual, contingent or
otherwise).

 

Provided that the Bank will not demand
immediate repayment of the SME WCL unless otherwise provided in this Facility Letter or the Standard Terms or if there is a breach of
any term or condition of any document executed (whether for the provision of security or otherwise) in connection with or arising from
this Facility Letter.

 

		(x)	Financial Crime

 

We shall be entitled to take all actions
we consider appropriate in order for us to meet any obligation or requirement, either in Singapore or elsewhere, in connection with the
detection, investigation and prevention of financial crime including fraud, money laundering, terrorism financing, bribery, corruption,
or tax evasion or the enforcement of any economic or trade sanction (“Financial Crime”).

 

    Page 7 of 11

     

    

 

 

 

		Ref.	:
                                            118454/SME WCL

 

You understand and agree that if any activities,
conduct or circumstances you are involved in (directly or indirectly) may, In the sole and absolute discretion of the Bank, expose the
Bank to legal or reputational risk, or actual or potential regulatory or enforcement actions, we shall at any time, without giving any
reason or notice to you, have the right to immediately:-

 

		(a)	close all accounts and terminate all services you have with us;

		(b)	delay, block or refuse the making or clearing of any payment, the processing of instructions or the application for services or the
provision of all or part of the services;

		(c)	terminate and/or recall any or all advances or loans, credit or other financial or banking facilities (committed or uncommitted),
accommodation, financial assistance or services and demand repayment of all sums outstanding; or

		(d)	make reports and take such other actions as we may deem appropriate.

 

You undertake that you will not initiate,
engage in or effect a transaction (directly or indirectly) that may involve Financial Crime and agree to hold us harmless, indemnify us
and keep us indemnified from and against any and all liabilities, claims, obligations, losses, damages, penalties, actions, judgments,
suits, costs (including, but not limited to, legal costs on a full indemnity basis), expenses and disbursements of any kind whatsoever
which we may suffer or incur in connection with or arising from any breach by you of this undertaking.

 

		(xi)	You shall not make any substantial alteration to the nature of your business (Biz Services-Business Not Elsewhere CI) or amend or
alter any of the provisions of your Constitution or any corporate documents relating to your borrowing powers and principal activities.

 

		(xii)	You shall ensure that your account is not overdrawn, even temporarily, in excess of the credit balance therein or the Overdraft Facility
(if any) granted by the Bank, save where the Bank allows otherwise in its absolute discretion or by prior written arrangement with the
Bank, such arrangement to be subject to such terms and conditions as the Bank may determine. In the event that your account is overdrawn
in excess of the Overdraft Facility (if any) granted to you, you shall forthwith repay such excess amount together with interest thereon,
if any.

 

		(xiii)	For the avoidance of doubt, the Bank may impose such terms and conditions and/or levy such fees as it deems fit for any consent and/or
waiver sought from the Bank in relation to any of the terms and conditions of the banking facilities.

 

		(xiv)	On your acceptance of this Facility Letter, you accept and agree that you will bear all costs, fees, expenses and other charges, legal
or otherwise, arising from or in connection with the preparation, execution, registration and deregistration of all documents (including
security documents) required by the Bank and the realisation or enforcement of any of the Bank’s rights herein or under any of the
security documents and the processing, implementation and recovery of the banking facilities, including, without limitation, the stamp
duty, cause book search fees, the Bank’s solicitors’ costs (as between solicitors and clients). This clause shall be effective
notwithstanding any cancellation or revocation of any of the banking facilities at any time after acceptance of this Facility Letter.

 

If the terms and conditions of this Facility Letter
are acceptable to you, please confirm your acceptance by delivering to the Bank:-

 

		(i)	the duplicate of this Facility Letter with the acceptance portion duly signed by your authorized signatory(ies);

 

		(ii)	an up-to-date copy of your Constitution certified as a true copy by any director or company secretary or such person acceptable to
the Bank;

 

		(iii)	an extract of your Board Resolution (a sample resolution is attached hereto for your adoption) certified as a true copy by two directors
or by a director and the company secretary unless your Constitution provides for certification by a director or the company secretary
singly;

 

all within fourteen (14) days from the date hereof,
failing which this offer shall lapse, unless otherwise agreed by the Bank.

 

    Page 8
                                                                                      of 11

     

    

 

  

Ref.        :
118454/SME WCL

 

If you require any clarification,
please call your Business Financial Manager, Kwa Shaw Mingat 98289237 or alternatively, our Services Hotline at 6259 8188.

 

We are pleased to be of service to you.

 

Yours faithfully

for United Overseas Bank Limited

 

	/s/ Kwa Shaw Ming	 	 
	Name: Kwa Shaw Ming	 	Name:
	Ranking/Designation: BFM	 	Ranking/Designation:
	Business Banking	 	Business Banking
	Group Retail	 	Group Retail

 

    Page 9 of 11

     

    

  

Ref.        :
118454/SME WCL

 

ACCEPTANCE

 

		To:	UNITED OVERSEAS BANK LIMITED

 

		1.	We hereby accept your above offer of banking facilities and acknowledge receipt of a copy of the Standard Terms and Conditions Governing
Banking Facilities (ref: CR-133.2(R10.17)).

 

		2.	We hereby consent to the Bank’s disclosure of any information whatsoever concerning any. matter
or transaction in relation to any banking facility from time to time granted by the Bank, any security relating thereto and any information whatsoever regarding our accounts or affairs in accordance with the Bank
of disclosure provided in this Facility Letter and the Standard Terms.

 

		3.	We enclose herewith a certified true extract of our Board Resolutions accepting the above offer,

 

		 ̈	as well as an up-to-date copy of our Constitution, certified as a true copy;

 

OR

 

		 ̈	and confirm that there has been no amendment made to our Constitution since
the last time that we provided a certified true copy of our Constitution to the Bank.

 

		4.	We authorise the Bank to obtain from any credit bureau and/or the CPF Board, all the information relevant the grant of the banking
facilities referred to in this Facility Letter to us.

 

		5.	We agree that in the event that the result(s) obtained from any check with any credit bureau or the CPF Board is/are not to the satisfaction
of the Bank, then the Bank may, in its absolute discretion and at any time, exercise its right to revise, reduce, recall and/or cancel the
banking facilities referred to in this Facility Letter.

 

		6.	We hereby authorize and give the Bank our irrevocable consent
to:-

 

		 ̈	Disburse the SME WCL to our existing
                                                                                                              Operating Account with UOB (current account no. __________________) and to debit all commissions, costs, fees, charges and expenses
                                                                                                              (including, but not limited to, instalment payments, capital repayments and interest thereon) from the Operating Account or any
                                                                                                              other account(s) which we have or may have with the Bank.

 

OR

 

		 ̈	Disburse the SME WCL to our operating account with UOB, which will be opened
by us with the Bank pursuant to the completed Account Opening Forms forwarded together with this Facility letter, and to debit all commissions,
costs, fees, charges and expenses (including, but not limited to, instalment payments, capital repayments and interest thereon) from the
said operating account or any other account(s) which we have or may have with the Bank.

 

		7	Where Facility Letter is issued to Borrower which is a Sole Proprietorship set up by an Individual

 

I hereby confirm that, where the Bank makes
available the execution of this Facility Letter by me in an electronic form, my electronic signature(s) is the legal equivalent of my
manual signature(s) on this Facility Letter and I have read, understood and agree to be bound by the prevailing UOB Electronic Signature
Service Terms (available at uob.com.sg/esign and at the Bank’s branches).

 

Where Facility Letter is issued to Borrower
which is a Sole Proprietorship set up by a Company or which is a Partnership

 

We hereby confirm that, where the Bank
makes available the execution of this Facility Letter by us though our authorized signatory(ies) in an electronic form, our authorized
signatory’s(ies’) electronic signature(s) are

 

    Page 10 of 11

     

    

 

  

Ref.        :
118454/SME WCL

 

	ILLEGIBLE	 

  

    Page 11 of 11Exhibit 10.11

 

GENIUSU PTE. LTD.

EMPLOYEE SHARE OPTION SCHEME RULES

 

 

 

10 Collyer Quay

#40-00 Ocean Financial Centre

Singapore 049315

Email: info@fl.sg

Website: www.fl.sg

 

     

     

    

 

Contents

 

	1.	Definitions and interpretation	3
	2.	Introduction	7
	3.	Size of Scheme	7
	4.	Administration	7
	5.	Vesting of Options	8
	6.	Treatment of Options for leavers	9
	7.	Treatment of Option Shares for leavers	9
	8.	Disposal	10
	9.	Issue of Ordinary Shares on exercise	11
	10.	Procedure on Restructure or Reconstruction	12
	11.	Procedure on Exit Event	12
	12.	Listings	14
	13.	Option does not give Shareholder rights	14
	14.	Power of attorney	15
	15.	Employment rights	15
	16.	Amendment to Rules	16
	17.	No warranty	17
	18.	Confidentiality	17
	19.	Data protection	18
	20.	General	18

	1.	Letter of Offer	21
	2.	Option Exercise Notice	25
	3.	Option Certificate	26

 

    Page 2 

     

    

 

Geniusu Pte. Ltd.

Employee Share Option Scheme Rules

 

		1.	Definitions and interpretation

 

		1.1.	Definitions

 

In these Rules, unless the contrary
intention appears:

 

ACRA means the Accounting and
Corporate Regulatory Authority of Singapore (and any of its successor entities).

 

Bad Leaver means a person who
has ceased to be employed or engaged by a Group Company in circumstances where they are not a Good Leaver.

 

Board means the board of directors
of the Company.

 

Business Sale means a sale to
a third party purchaser of all (or substantially all) of the assets and business undertaking of the Group (including by way of a sale
of shares of the Company’s directly or indirectly owned Subsidiaries).

 

Company means Geniusu Pte. Ltd..

 

Companies Act means the Companies
Act (Chapter 50) of Singapore, as may be amended from time to time.

 

Constitution means the Constitution
of the Company (as may be in force from time to time).

 

Date of Grant means the date
on which the Option is granted under the Rules, which shall be set out in the Letter of Offer or such other date as may be determined
by the Board.

 

Dispose means, in relation to
a Share or Option:

 

		(a)	sell, assign, buy-back, redeem, transfer, convey, grant an option
over, grant or allow a Security Interest over;

 

		(b)	enter into any swap arrangement, any derivative arrangements
or other similar arrangement; or

 

		(c)	otherwise directly or indirectly dispose of a legal, beneficial
or economic interest in the Share or Option,

 

and Disposal has a corresponding
meaning.

 

Drag-Along Notice has the meaning
provided in rule 11.3.

 

Eligible Company means GenuisU
Web Services Pvt Ltd, a company incorporated and validly existing under the laws of the Republic of India with company registration number
U72900GJ2014PTC081013.

 

Eligible Person means any employee
or director of one or more Group Companies and/or Eligible Company selected by the Board to participate in the Scheme, in each case, where
such employee or director is permitted to receive such offers pursuant to applicable law, and who receives a Letter of Offer.

 

Exercise Notice means a notice
substantially in the form of Schedule 2.

 

    Page 3 

     

    

 

Exercise Period means in relation
to an Option, the period commencing on the Vesting Date and ending on the Expiry Date, and is as set out in the Letter of Offer, or as
otherwise determined by the Board.

 

Exercise Price means in respect
of an Option the exercise price determined by the Board and included in the Offer giving rise to that Option, as amended pursuant to these
Rules.

 

Exit Date means each of:

 

		(d)	in respect of a Listing, the date of admission of the IPO Entity to the official list of the Singapore
Stock Exchange or any other recognised stock exchange;

 

		(e)	in respect of a Share Sale, the date on which the parties complete the sale and purchase of the Shares;
or

 

		(f)	in respect of a Business Sale, the date of the first distribution to Shareholders arising from the Business
Sale,

 

or any such other date as nominated
by the Board as the Exit Date.

 

Exit Event means each of:

 

		(g)	a Listing;

 

		(h)	a Business Sale; or

 

		(i)	a Share Sale,

 

other than a Restructure.

 

Expiry Date the date on which
the Option lapses under these Rules, as is set out in the Letter of Offer or as otherwise determined by the Board.

 

Fair Market Value means as of
any date, the fair market value of an Option or Option Share, as determined by the Board in good faith on such basis as it deems appropriate
and applied consistently with respect to all Options or Shares.

 

Good Leaver means a person who
has ceased to be employed or engaged by a Group Company as a result of that person’s:

 

		(j)	death;

 

		(k)	permanent disability or incapacity;

 

		(l)	retrenchment by reason of redundancy; or

 

		(m)	any other reason determined by the Board.

 

Group means the Company and each
Subsidiary (if any) from time to time.

 

Group Company means any member
of the Group.

 

IPO Entity means a Group Company
or a special purpose vehicle formed for the purpose of a Listing which directly or indirectly (including through one or more interposed
entities) owns at least 50% per cent (based on earnings) of the business of the Group.

 

IRAS means the Inland Revenue
Authority of Singapore (and any of its successor entities).

 

Letter of Offer means a letter
in the form or substantially in the form set out in Schedule 1 (subject to such modifications as the Board may determine from time to
time).

 

Listing means an initial public
offering of an IPO Entity to the official list of Singapore Exchange Limited or any other recognised stock exchange.

 

    Page 4 

     

    

 

Listing Rules means the SGX Listing
Rules and any other rules of the Singapore Stock Exchange which apply to an entity while it is a listed entity (or the rules of any other
recognised stock exchange (if applicable)), each as amended or replaced from time to time, except to the extent of any express written
waiver by the Singapore Stock Exchange (or any other recognised stock exchange (if applicable)).

 

Majority Shareholders means:

 

		(n)	if there is no Shareholders Agreement or if the Shareholders Agreement does not include any definition
of ‘majority shareholders’ (or a similar expression), Shareholders holding 51% or more of the Ordinary Shares on issue; or

 

		(o)	if there is a Shareholders Agreement which includes a definition of ‘majority shareholders’
(or a similar expression), that number of Shareholders.

 

New Holding Entity means an entity
in which equity securities are issued in exchange for Shares as part of a Restructure.

 

Offer means an offer made to
an Eligible Person by or on behalf of the Board to participate in the Scheme.

 

Option means an option, issued
under the Scheme in accordance with these Rules, to acquire a newly issued Ordinary Share.

 

Optionholder means a person registered
in the Company’s register of Optionholders as the holder of Options from time to time.

 

Option Share means an Ordinary
Share issued as a result of the exercise by an Optionholder of its Options.

 

Ordinary Shares means fully paid
ordinary shares in the capital of the Company with such rights and obligations as set out in the Constitution.

 

Outstanding Option means an Option
which has vested, has not been exercised and has not lapsed.

 

Purpose means any of the following
purposes:

 

		(p)	the assessment of an Eligible Person’s offer to participate under the Scheme; or

 

		(q)	if an Eligible Employee’s offer to participate under the Scheme is accepted, the facilitation of
the operation and the administration of the Scheme.

 

Restructure means the restructure
of the Company involving holders of Shares exchanging those Shares for equity securities in a New Holding Entity such that the equity
security holders of the New Holding Entity are, or after the restructure become, the same or substantially the same as the former holders
of Shares.

 

Related Corporation has the meaning
given in the Companies Act.

 

Rules means these terms and conditions,
as amended from time to time.

 

Scheme means the Geniusu Pte.
Ltd. Employee Share Option Scheme constituted by these Rules, as amended from time to time.

 

Security Interest means an interest
or power:

 

		(r)	reserved in or over an interest in any asset including any retention
of title; or

 

		(s)	created or otherwise arising in or over any interest in any asset under a security agreement, a bill of
sale, mortgage, charge, lien, pledge, trust or power, by way of, or having similar commercial effect to, security for the payment of a debt, any other monetary obligation or the performance
of any other obligation, and includes, but is not limited to any agreement to grant or create any of the above.

 

    Page 5 

     

    

 

Share Sale means the sale by
Shareholders (in one transaction or a series of connected transactions) to a third party purchaser of all of the issued Shares.

 

Shareholder means a person who
is the registered holder of a Share.

 

Shareholders Agreement means
the shareholders agreement in respect of the Company (if any).

 

Shares means shares in the capital
of the Company with such rights and obligations as set out in the Constitution.

 

Subsidiary has the meaning given
in the Companies Act.

 

Vesting Date means the date that
the Options vest in accordance with these Rules.

 

		1.2.	Interpretation

 

In these Rules, unless the context otherwise
requires:

 

		(a)	(documents) a reference to an agreement or document is to the agreement or document as varied,
amended, supplemented, novated or replaced from time to time.

 

		(b)	(references) a reference to a party, clause, paragraph, schedule or annexure is a reference to
a party, clause, paragraph, schedule or annexure to or of these Rules.

 

		(c)	(headings) clause headings and the table of contents are inserted for convenience only and do not
affect the interpretation of these Rules.

 

		(d)	(person) a reference to a person includes a natural person, corporation, statutory corporation,
partnership, government agency, the Crown and any other organisation or legal entity and their personal representatives, successors, substitutes
(including persons taking by novation) and permitted assigns.

 

		(e)	(party) a reference to a party to a document includes that party’s personal representatives,
executors, administrators, successors, substitutes (including persons taking by novation) and permitted assigns.

 

		(f)	(including) including and includes (and any other similar expressions) are not words of limitation,
and a list of examples is not limited to those items or to items of a similar kind.

 

		(g)	(corresponding meanings) a word that is derived from a defined word has a corresponding meaning.

 

		(h)	(singular) the singular includes the plural and the converse.

 

		(i)	(gender) words importing one gender include all other genders.

 

		(j)	(rules of construction) neither these Rules nor any part of them are to be construed against a
party on the basis that a party or its lawyers were responsible for its drafting.

 

		(k)	(legislation) a reference to any legislation or provision of legislation includes all amendments,
consolidations or replacements and all regulations or instruments issued under it.

 

		(l)	(time and date) a reference to a time or date is a reference to the time and date in Singapore.

 

    Page 6 

     

    

 

		(m)	(joint and several) an agreement, representation, covenant, right or obligation:

 

		(i)	in favour of two or more persons is for the benefit of them jointly and severally; and

 

		(ii)	on the part of two or more persons binds them jointly and severally.

 

		(n)	(writing) a reference to a notice, consent, request, approval or other communication under these
Rules or an agreement between the parties means a written notice, request, consent, approval or agreement.

 

		(o)	(replacement bodies) a reference to a body (including an institute, association or authority) which
ceases to exist or whose powers or functions are transferred to another body is a reference to the body which replaces it or which substantially
succeeds to its power or functions.

 

		(p)	(Singaporean currency) a reference to dollars or S$ is to Singapore Dollars.

 

	2.	Introduction

 

	2.1.	Purpose

 

The purpose of the Scheme is to provide
Eligible Persons with an opportunity to share in the growth in value of the Shares and to encourage them to improve the performance of
the Group’s return to shareholders. It is intended that the Scheme will enable the Group to retain and attract skilled and experienced
employees and provide them with the motivation to make the Group more successful.

 

		2.2.	Commencement of Scheme

 

The Scheme will take effect on and from
such date as the Board may resolve.

 

		2.3.	Advice

 

Eligible Persons should obtain their
own independent advice (at their own expense) on the financial, taxation and other consequences to them of, or relating to, participation
in the Scheme.

 

		2.4.	Operation of the Scheme

 

The Scheme operates according to these
Rules which bind each Group Company and each Eligible Person.

 

		3.	Size of Scheme

 

		3.1.	Scheme pool

 

Subject to Rule 3.2, the maximum number
of Options which may be granted in accordance with the Scheme is [22,492].

 

		3.2.	Adjustments to Scheme pool

 

If an Option is cancelled, lapses, or
is otherwise terminated, or if an Option Share is cancelled, an additional Option may be granted in subject to the maximum number of Options
under Rule 3.1.

 

		4.	Administration

 

		4.1.	Administration of Scheme and delegation

 

		(a)	The Scheme is to be administered by the Board.

 

    Page 7 

     

    

 

		(b)	The Board may delegate some or all of its powers in administering the Scheme to a subcommittee of the
Board.

 

		(c)	Subject to these Rules, the Board or any sub-committee appointed to administer the Scheme shall have the
power:

 

		(i)	to select the Eligible Persons;

 

		(ii)	to determine the terms and conditions of any Offer, including:

 

		(A)	the number of Options the subject of the Offer;

 

		(B)	the purchase price (if any) for those Options;

 

		(C)	any trustee or nominee holding arrangements required to be entered into in connection with those Options;

 

		(D)	the vesting, disposal and forfeiture restrictions applying to those Options; and

 

		(E)	the manner in which the Offer may be accepted;

 

		(iii)	subject to rule 16, to amend any Offer related to any Option;

 

		(iv)	to determine appropriate procedures, regulations and guidelines for the administration of the Scheme;
and

 

		(v)	to take advice in relation to the exercise of any of its powers or discretions under these Rules.

 

		4.2.	Calculations and adjustments

 

Any calculations or adjustments which
are required to be made by the Board or any subcommittee of the Board, in connection with the Scheme or these Rules will, in the absence
of manifest error, be final and conclusive and binding on all Eligible persons and Optionholders.

 

		4.3.	Absolute discretion

 

Where these Rules provide for a determination,
decision, declaration or approval of the Board or any sub-committee of the Board, such determination, decision, declaration or approval
may be made or given by the body in its absolute discretion.

 

		4.4.	Powers to be exercised by the Board

 

Any power or discretion which is conferred
on the Board by these Rules may be exercised by the Board in the interests, or for the benefit, of the Company and the Board is not under
any fiduciary or other obligation to any other person.

 

		4.5.	Number of participants

 

Notwithstanding the provisions of Rule
15, the Company may impose a cap to the number of participants in this Scheme if such cap or amendment is reasonably required for the
Company in order to maintain its status as a private limited company incorporated in Singapore.

 

		5.	Vesting of Options

 

		5.1.	What vesting conditions may be set

 

		(a)	An Offer may specify any:

 

		(i)	vesting conditions; or

 

    Page 8 

     

    

 

		(ii)	other vesting events,

 

which must be satisfied before an Option
vests.

 

		(b)	Subject to rule 16, the Board may determine or vary any:

 

		(i)	vesting conditions; or

 

		(ii)	other vesting events,

 

in respect of any Option.

 

		5.2.	Options only vest if vesting conditions/events satisfied

 

An Option will only vest on the occurrence
or satisfaction of the condition or other vesting events specified in respect of that Option.

 

		5.3.	How to exercise an Option

 

An Optionholder may exercise an Outstanding
Option during the Exercise Period, by:

 

		(a)	giving to the Company a signed Exercise Notice; and

 

		(b)	paying the Exercise Price multiplied by the number of Options being exercised.

 

		5.4.	Illegality of exercise

 

No shares shall be issued to an Optionholder
if such issue is contrary to applicable law.

 

		6.	Treatment of Options for leavers

 

		6.1.	Good Leavers

 

If an Eligible Person is a Good Leaver,
all unvested Options and Outstanding Options automatically lapse with effect on the date the Optionholder becomes a Good Leaver, unless
otherwise determined by the Board.

 

		6.2.	Bad Leavers

 

If an Eligible Person is a Bad Leaver,
all unvested Options and Outstanding Options automatically lapse with effect on the date the Optionholder becomes a Bad Leaver, unless
otherwise determined by the Board.

 

		7.	Treatment of Option Shares for leavers

 

		7.1.	Right to buyback or direct the transfer of Option Shares

 

		(a)	If an Eligible Person is a Bad Leaver or a Good Leaver, the Board may:

 

		(i)	give notice to the Eligible Person of its
                                            intention to buy back some or all of the Option Shares (Leaver Securities) held by
                                            the Eligible Person at the price set out in rule 7.2; or

 

		(ii)	direct the Eligible Person to transfer some or all of the Leaver Securities to a person nominated by the
Board at the price set out in rule 7.2.

 

		(b)	If an Eligible Person is a Good Leaver, the Board may, in addition to, or, in the alternative to, the
actions specified under 7.1(a), direct that such Good Leaver (or the estate of such Good Leaver as may be applicable) be allowed to retain
ownership of some or all of the Leaver Securities, subject to compliance with applicable law.

 

		(c)	If the Board notifies the Eligible Person that it wishes to buy back the Leaver Securities under rule
7.1(a)(i), the Eligible Person must do everything necessary to facilitate the sale of the Leaver Securities to the Company within 5 Business Days of the Board’s notice, including entering into a buy back agreement
or share transfer documentation.

 

    Page 9 

     

    

 

		(d)	Notwithstanding rule 7.1(a)(i) and 7.1(c), the Company may only buy back the Leaver Securities if it is
permitted to do so under the Companies Act.

 

		(e)	If the Board directs the Leaver Securities to be transferred under clause 7.1(a)(ii), the relevant Eligible
Person must transfer the Leaver Securities as directed and completion of the sale of the Leaver Securities must occur on the date determined
by the Board and notified to the relevant Eligible Person.

 

		7.2.	Purchase price of Leaver Securities

 

The price for the Leaver Securities
is:

 

		(a)	if the Eligible Person is a Good Leaver, 100% of Fair Market Value; and

 

		(b)	if the Eligible Person is a Bad Leaver, the Exercise Price in respect of the relevant Leaver Securities.

 

The price for the Leaver Securities
must be paid by the Company or the transferee (as applicable) on the date on which the Leaver Securities are bought back by the Company
or transferred to the transferee (as applicable).

 

		7.3.	Other remedies

 

The rights and remedies set out in this
rule 7 do not exclude any other rights or remedies that a Group Company may have against an Eligible Person.

 

		7.4.	Suspension

 

To the extent that the law allows, from
the date an Eligible Person is a Bad Leaver, the rights of that Eligible Person as a holder of Option Shares (including dividend and distribution
rights in relation to Option Shares and the rights to attend and vote at general meetings of Shareholders and to receive information and
documents) are suspended until those Option Shares have been bought back by the Company or transferred in accordance with this rule 7.

 

		8.	Disposal

 

		8.1.	Restrictions on a sale of Options and Option Shares

 

Subject to rule 8.2, Options and Option
Shares may not be transferred, except:

 

		(a)	in connection with an Exit Event; or

 

		(b)	with the prior written consent of the Board.

 

8.2.       Permitted
Disposals

 

A legal or beneficial interest in an
Option or Option Share may be Disposed of pursuant to:

 

		(a)	in the event of the death of an Optionholder and pursuant to rule 7.1(b), a transfer or transmission of
the deceased Optionholder’s Option Shares to the deceased Optionholder’s estate;

 

		(b)	a sale or transfer by an Optionholder of any of its Option Shares where such transfer has been consented
to in writing by the Board (with such consent not to be unreasonably withheld) [Note: the consent of the Board should still apply for
such sales so that a sale to an undesirable third party may be prevented]; or

 

    Page 10 

     

    

 

		(c)	a sale or transfer by an Optionholder of any of its Options and/or Option Shares where such sale or transfer
is otherwise permitted or required by these Rules.

 

In respect of the Option Shares only,
to the extent this rule is inconsistent with any similar provision in the Shareholders Agreement, the provision in the Shareholders Agreement
will prevail.

 

		8.3.	Restriction on Disposal after Listing

 

Unless otherwise consented to by the
Board in writing and notwithstanding any other provision in these Rules or an Offer, if an Eligible Person holds an Option Share at the
date of a Listing, the Eligible Person must not Dispose of a legal or a beneficial interest in an Option Share until on or after the later
of:

 

		(a)	the date falling after the six-month anniversary of the Listing; and

 

		(b)	the expiration of any underwriter-imposed lock-up in connection with the Listing.

 

		9.	Issue of Ordinary Shares on exercise

 

		9.1.	Rights attaching to Shares issued to Optionholders on exercise
of Outstanding Options

 

		(a)	Subject to rule 9.2(a) and 9.1(b), if an Optionholder exercises Outstanding Options, the Company shall:

 

		(i)	issue the number of Ordinary Shares which corresponds with the number of Outstanding Options exercised,
free from any Security Interest;

 

		(ii)	enter the Optionholder into the Company’s share register;

 

		(iii)	lodge with the ACRA the relevant forms to reflect the issue of the relevant number of Option Shares and
to reflect such recipient of Option Shares as the legal owner of such Option Shares; and

 

		(iv)	provide such recipient of Option Shares with the results of an ACRA search showing such recipient of Option
Shares as the registered owner of Option Shares in ACRA.

 

		(b)	If an Optionholder exercises Outstanding Options, the Optionholder shall:

 

		(i)	execute an share transfer form in blank in respect of the relevant Options Shares; and

 

		(ii)	execute such other documents and do all such actions as may be required by the Company in respect of the
treatment of Option Shares under rule 7.

 

		(c)	All Option Shares issued on exercise of Options in accordance with this rule 9 will:

 

		(i)	be issued as fully paid;

 

		(ii)	be free of any Security Interests; and

 

		(iii)	rank equally in all respects with the other Ordinary Shares on issue in the Company as at the date of
issue and be subject to the terms of these Rules, the Constitution and Shareholders Agreement (if any).

 

    Page 11 

     

    

 

		9.2.	Shareholders Agreement

 

		(a)	Despite anything else in these Rules, if there is a Shareholders Agreement in place, unless the Board
otherwise determines, no Optionholder may receive any Option Shares upon the exercise of Options, unless:

 

		(i)	the Optionholder first executes and delivers to the Company a document (in the form prescribed by the
Board) pursuant to which the Optionholder accedes to, and becomes bound by, the terms of the Shareholders Agreement; or

 

		(ii)	the Optionholder is already a party to the Shareholders Agreement.

 

		(b)	If at the time of exercise of an Option the Company does not have a Shareholders Agreement in place, an
Optionholder agrees, by serving an Exercise Notice, to enter into a Shareholders Agreement if the Company subsequently adopts one, provided
that such Shareholders Agreement is broadly consistent with the provisions in these Rules covering Disposal and the procedures on an Exit
Event. By serving an Exercise Notice on the Company, an Optionholder will be taken to have agreed to this requirement.

 

		10.	Procedure on Restructure or Reconstruction

 

		10.1.	Restructure

 

If there is a Restructure, the New Holding
Entity or any Related Corporation of the New Holding Entity must grant new options in substitution of some or all of the Options on a
like for like basis.

 

		10.2.	Reconstruction

 

		(a)	In the event of any reconstruction of the share capital of the Company prior to the exercise of the Options
(including consolidation, subdivision, reduction, capital return, buy back or cancellation), the number of Option Shares that may be acquired
by an Eligible Person on exercise of their Options and/or the consideration (if any) payable by an Eligible Person for the exercise of
their Options must be reconstructed accordingly, in a manner that does not result in any additional benefits being conferred on an Eligible
Person that are not conferred on shareholders of the Company.

 

		(b)	The Board must give notice to each Eligible Person of any adjustment to the Options and/or Option Shares
to which that Eligible Person is entitled pursuant to the provisions of rule 10.2(a).

 

		(c)	For the avoidance of doubt, the following shall not be deemed a reconstruction of capital:

 

		(i)	an issue of new Shares to an existing Shareholder and/or to a third party; and/or

 

		(ii)	a transfer of Shares from an existing Shareholder to another Shareholder and/or to a third party.

 

		11.	Procedure on Exit Event

 

		11.1.	Vesting of Options on Exit

 

		(a)	All unvested Options granted at least one year prior to the date of an Exit Event will automatically vest
with effect immediately prior to completion of the Exit Event.

 

		(b)	The Board will determine whether any unvested Options granted less than one year prior to the date of
an Exit Event will vest with effect immediately prior to completion of the Exit Event.

 

    Page 12 

     

    

 

		11.2.	Treatment of Options on Exit Event

 

		(a)	Prior to an Exit Event, the Board will reasonably endeavour to notify an Optionholder of the upcoming
Exit Event and provide reasonable details of the Exit Event.

 

		(b)	Prior to an Exit Event, the Board may either:

 

		(i)	cancel some or all of an Optionholder’s Outstanding Options (including Options which vest pursuant
to rule 11.1), by paying the Optionholder the amount per Ordinary Share that will be paid under the Exit Event, less the Exercise Price
for such Options and the Optionholder’s proportionate share of transaction costs; and/or

 

		(ii)	cancel some or all of an Optionsholder’s unvested Options, by paying the Optionholder the value
of each unvested Option as the Board may in its sole discretion deem fit; and/or

 

		(iii)	make appropriate arrangements such that some or all of an Optionholder’s Outstanding Options are
able to be exercised on or prior to the Exit Date and use reasonable endeavours to ensure that the Option Shares issued at or about the
time of an Exit Event are accorded the same rights and receive the same benefits in relation to the Exit Event as pre-existing Ordinary
Shares.

 

		(c)	If the Board undertakes the action set out in rule 11.2(b)(iii), any Outstanding Options in respect of
which such arrangements have been made, shall upon the date of completion of the Exit Event, automatically lapse.

 

		11.3.	Drag along

 

		(a)	On or prior to the Exit Date, the Board
                                            must if requested to do so by the Majority Shareholders (Dragging Shareholders) issue
                                            a notice (Drag Along Notice) to each Eligible Person holding Options or Option Shares
                                            (Dragged Holder) stating that they want the Dragged Holder to sell all of its Option
                                            Shares to:

 

		(i)	a third party buyer in connection with a Share Sale; or

 

		(ii)	an IPO Entity in connection with a Listing.

 

		(b)	The Drag Along Notice should specify:

 

		(i)	the number of Shares which the Dragging
                                            Shareholders propose to sell (Sale Shares), which must be all of the Shares held by
                                            those Dragging Shareholders;

 

		(ii)	the name of the proposed buyer of the Sale
                                            Shares (Third Party Buyer), and the material terms on which the Dragging Shareholders
                                            propose to sell the Sale Shares;

 

		(iii)	that the Third Party Buyer is either:

 

		(A)	a prospective third party purchaser who has made an offer to purchase the Sale Shares at the price and
on the terms set out in the Drag Along Notice; or

 

		(B)	an IPO Entity;

 

		(iv)	the sale price per Share (which may be cash consideration, scrip consideration or a combination of both
cash and scrip); and

 

    Page 13 

     

    

 

		(v)	that the Dragging Shareholders require the Dragged Holder to sell all of the Dragged Holder’s Option
Shares to the Third Party Buyer in accordance with this rule 11.3.

 

		(c)	A Drag-Along Notice is irrevocable.

 

		(d)	If the Dragging Shareholders serve a Drag Along Notice, a Dragged Holder must as part of the sale of the
Sale Shares to the Third Party Buyer, sell all of its Option Shares to the Third Party Buyer on terms which comply with rules 11.3(e)
and 11.3(f).

 

		(e)	The sale of the Dragged Holder’s Option Shares to the Third Party Buyer under this rule 11.3 must
be for the same sale price per Share and on the same terms and conditions as those applicable to the sale by the Dragging Shareholders
of the Sale Shares to the Third Party Buyer.

 

		(f)	The Dragging Shareholders must procure that the purchase price payable for the Dragged Holder’s
Option Shares is paid on the closing of the purchase and sale, which must take place at the same time as the closing of the sale of the
Sale Shares by the Dragging Shareholders to the Third Party Buyer.

 

		(g)	Without limiting rule 11.3(d), on completion of the purchase and sale of the Dragged Holder’s Option
Shares, the Dragged Holder must deliver to the Third Party Buyer:

 

		(i)	the share certificates and an executed transfer for the Dragged Holder’s Option Shares; and

 

		(ii)	a duly executed notice irrevocably appointing the Third Party Buyer as the Dragged Holder’s proxy
in respect of the Dragged Holder’s Option Shares until such time as those Option Shares are registered in the name of the Third
Party Buyer;

 

		(h)	To the extent of any inconsistency between this rule 11.3 and the provisions of the Shareholders Agreement,
the provisions of this rule 11.3 will prevail.

 

		12.	Listings

 

Each Eligible Person agrees and represents
that:

 

		(a)	in the event that a Listing is proposed by the Board, it will do all things and provide all assistance
as is reasonably required by the Company in connection with the actual or proposed Listing, including, if required by the Company, entering
into an underwriting, escrow or offer management agreement or similar agreement on market terms; and

 

		(b)	if, as part of the Listing, the Option
                                            Shares or the shares held in the IPO Entity (as applicable) (together, the Listing Shares)
                                            are subject to the Listing Rules (including, without limitation, if the holder’s Listing
                                            Shares are “restricted securities” for the purpose of the Listing Rules), each
                                            holder will hold and deal with its Listing Shares in accordance with the Listing Rules.

 

		13.	Option does not give
                                            Shareholder rights

 

		(a)	An Offer will be in respect of a single grant of Options and does not entitle an Eligible Person to participate
in any subsequent grants.

 

		(b)	An Option does not confer on an Eligible Person or an Optionholder:

 

		(i)	any voting rights in respect of Shares or in respect of any other equity securities of the Company;

 

    Page 14 

     

    

 

		(ii)	the right to participate in new issues of Shares or other equity securities of the Company;

 

		(iii)	the right to attend or vote at any general meeting or other meeting of holders of any Shares or other
equity securities of the Company;

 

		(iv)	the right to receive any dividends or other distributions or to receive or otherwise participate in any
returns of capital from the Company; or

 

		(v)	the right to participate in a liquidation or winding up of the Company.

 

		14.	Power of attorney

 

		14.1.	Appointment

 

Each Eligible Person irrevocably appoints
the Company as that Eligible Person’s attorney to do any one or more of the following things on behalf of that Eligible Person and
in the name of that Eligible Person:

 

		(a)	to execute under hand or seal and (if appropriate) deliver, or otherwise effect the entry by that Eligible
Person into, any documents that the Board determines are necessary or desirable to give effect to, or evidence participation by that Eligible
Person under, the Scheme or to complete any transaction contemplated by these Rules;

 

		(b)	to perform any act, matter or thing which, in the opinion of the Board, is contemplated by, incidental
to or necessary or desirable to give effect to, or evidence participation by that Eligible Person under, the Scheme or to complete any
transaction contemplated by these Rules; and

 

		(c)	to appoint any one or more substitute attorneys to exercise any of the powers under rules 14.1(a) or 14.1(b)
and to revoke any of those appointments.

 

		14.2.	Ratification

 

		(a)	Each Eligible Person ratifies and confirms whatever the Company or any other attorney does in exercising
powers under rule 14.1.

 

		(b)	Each Eligible Person declares that all acts, matters and things done by the Company or any other attorney
in exercising powers under rule 14.1 will be as good and valid as if they had been done by that Eligible Person.

 

		14.3.	Indemnity

 

Each Eligible Person indemnifies the
Company and each other person who exercises powers under rule 14.1 against all liability and loss arising from and all costs incurred
in connection with an exercise of powers under rule 14.1

 

		15.	Employment rights

 

		15.1.	Acknowledgement by Eligible Person

 

It is acknowledged and accepted by each
Eligible Person that:

 

		(a)	neither these Rules nor any contract formed between the Company and that Eligible Person under the Scheme
form part of any contract or terms and conditions of employment or appointment, or any arrangement in respect of any such employment or
appointment, between an Eligible Person and a Group Company, nor do they constitute a related condition or collateral arrangement to any
such contract or arrangement;

 

    Page 15 

     

    

 

		(b)	participation in the Scheme will not in any way affect the rights and obligations of an Eligible Person
under the terms under which he or she is employed or appointed; and

 

		(c)	the terms of an Eligible Person’s employment or appointment with a Group Company will not in any
way affect the rights and obligations of an Eligible Person under this Scheme.

 

		15.2.	No claims

 

An Eligible Person has no right to compensation
or damages from any Group Company in respect of any loss of future rights under the Scheme, as a consequence of termination of that Eligible
Person’s employment or appointment for any reason.

 

		15.3.	Termination and suspension of Scheme

 

If the Board terminates or suspends
the Scheme, no compensation under any employment contract will be payable to any Eligible Person.

 

		15.4.	No right to acquire Options or Option Shares

 

Except as expressly provided in these
Rules, participation under the Scheme does not confer on any Eligible Person any right to acquire Options or Option Shares.

 

		15.5.	Calculation of employee benefits

 

The value of Options or Option Shares
do not increase an Eligible Person’s income or remuneration for the purpose of calculating any employee benefits, including any
payment in lieu of notice or redundancy or severance payments.

 

		15.6.	No right to future employment

 

Participation under the Scheme does
not confer on any Eligible Person any right to future employment and does not affect any rights which any Group Company may have to terminate
the employment of any Eligible Person.

 

		16.	Amendment to Rules

 

		16.1.	Amendment

 

Subject to rules 16.2 and 16.3, the
Company may at any time by written instrument or by resolution of the Board, amend all or any of the provisions of these Rules (including
this rule 16).

 

		16.2.	Accrued rights

 

No amendment of the provisions of these
Rules may reduce the accrued rights of any Eligible Person in respect of Options or Option Shares issued prior to the date of the amendment,
other than:

 

		(a)	an amendment introduced primarily:

 

		(i)	for the purpose of complying with or conforming to present or future legal requirements governing or regulating
the maintenance or operation of the Scheme or like plans;

 

		(ii)	to correct any manifest error or mistake;

 

		(iii)	to enable contributions or other amounts paid by the Company in respect of the Scheme to qualify for any
tax concession available;

 

    Page 16 

     

    

 

		(iv)	to enable the Company to comply with the Companies Act or any other applicable laws; or

 

		(v)	to reflect any amendments necessitated as a result of a variation of the capital of the Company; or

 

		(b)	with the consent of Eligible Persons who between them hold not less than 75% of the total number of all
issued Options before making the amendment.

 

		16.3.	Retrospectively

 

Subject to the above provisions of this
rule 16 and subject to applicable law, any amendment made under rule 16.1 may be given such retrospective effect as is specified in the
resolution by which the amendment is made and, if so stated, amendments to these Rules, including the terms applicable to Options issued
under this Scheme, have the effect of automatically amending the terms of Options issued and still subject to these Rules.

 

		17.	No warranty

 

		17.1.	Financial benefits

 

The Company gives no warranty, representation
or undertaking that participation in the Scheme will result in any financial benefits for Eligible Persons.

 

		17.2.	Tax

 

No Group Company or any adviser to a
Group Company or the Board is liable for any tax which may become payable by an Eligible Person and none of them represent or warrant
that any person will gain any taxation advantage by participating in the Scheme.

 

		18.	Confidentiality

 

		18.1.	Confidential information

 

Subject to rule 18.2, each Eligible
Person must keep confidential all information and documents disclosed to that Eligible Person in connection with the Scheme, including:

 

		(a)	these Rules and the Offer;

 

		(b)	the Constitution and the Shareholders Agreement;

 

		(c)	the Fair Market Value; and

 

		(d)	information and documents of every kind concerning or in any way connected with the Group, its trade secrets
or its financial or business affairs, including financial reports, performance reports, business plans and marketing plans.

 

		18.2.	Exceptions

 

Rule 18.1 does not impose obligations
on an Eligible Person concerning information and documents which that Eligible Person proves to the reasonable satisfaction of the Company:

 

		(a)	was or were disclosed by that Eligible Person to its tax, financial or legal advisors;

 

		(b)	became publicly available without breach of an obligation of confidence; or

 

		(c)	was or were disclosed by that Eligible Person with the Company’s prior authorisation, or in the
proper performance of that Eligible Person’s duties for the Group or as obliged by law.

 

    Page 17 

     

    

 

19.       Data
protection

 

19.1.       Collection
and purpose

 

The Company needs to collect personal
information about Eligible Persons for the Purpose. If this personal information is not provided to the Company, the Company may not be
able to achieve the Purpose.

 

19.2.       Consent

 

By completing, countersigning and returning
an Offer, an Eligible Person authorises and instructs each Group Company and any agent of any Group Company:

 

		(a)	to collect, disclose and transfer between each other any personal information as the Company may request;

 

		(b)	to disclose any personal information to any governmental or regulatory agency or authority as may be required
in connection with the administration of the Scheme; and

 

		(c)	to store and process personal information,

 

in accordance with the Purpose. An Eligible Person
may withdraw this authorisation.

 

19.3.       Access
to personal information

 

An Eligible Person may access any personal
information held by the Company for the Purpose by contacting the Company secretary and may require any personal information to be corrected
if that personal information is inaccurate or incomplete.

 

20.       General

 

20.1.       Further
assurances

 

Each Eligible Person and Optionholder
agrees that it will complete and return to the Company such other documents as may be required by law to be completed by the Eligible
Person or Optionholder from time to time in respect of the transactions contemplated by these Rules or such other documents which the
Company reasonably considers should, for legal, taxation or administrative reasons, be completed by the Eligible Person or Optionholder
in respect of the transactions contemplated by these Rules.

 

20.2.       Notices

 

Any notice given under or in connection
with these Rules (Notice):

 

		(a)	must be in writing and signed by a person duly authorised by the sender;

 

		(b)	must be addressed and delivered to the intended recipient by hand, by prepaid post or by email at the
address or email address last notified by the intended recipient to the sender after the date of these Rules; and

 

		(c)	is taken to be given and made:

 

		(i)	in the case of hand delivery, when delivered;

 

		(ii)	in the case of delivery by post, three Business Days after the date of posting (if posted to an address
in the same country) or seven Business Days after the date of posting (if posted to an address in another country); and

 

		(iii)	in the case of an email, on the day and at the time that the recipient confirms the email is received.

 

This rule does not limit the way in
which a Notice can be deemed to be served under any applicable law.

 

    Page 18 

     

    

 

		20.3.	Relationship between parties

 

		(a)	Nothing in these Rules:

 

		(i)	constitutes a partnership between the parties; or

 

		(ii)	except as expressly provided, makes a party an agent of another party for any purpose.

 

		(b)	A party cannot in any way or for any purpose:

 

		(i)	bind another party; or

 

		(ii)	contract in the name of another party.

 

		(c)	If a party must fulfil an obligation and that party is dependent on another party, then that other party
must do each thing reasonably within its power to assist the other in the performance of that obligation.

 

		20.4.	Time for doing acts

 

		(a)	If the time for doing any act or thing required to be done or a notice period specified in these Rules
expires on a day other than a Business Day, the time for doing that act or thing or the expiration of that notice period is extended until
the following Business Day.

 

		(b)	If any act or thing required to be done is done after 5.00 pm on the specified day, it is taken to have
been done on the following Business Day.

 

		20.5.	Invalidity

 

		(a)	In the event that any provision of these Rules shall be deemed to be void, voidable or unenforceable,
the validity of all other provisions of these Rules shall not be affected.

 

		(b)	If any provision of this Agreement is held to be invalid or unenforceable but would be valid or enforceable
if some part of the provision were deleted, the provision in question will apply with the minimum modifications necessary to make it valid
and enforceable and the Company and each Eligible Person shall undertake all actions necessary or desirable to give effect to such modifications.

 

		20.6.	Applicable laws

 

Notwithstanding any provision of these
Rules, Options and Option Shares may not be allocated, allotted, issued, acquired, held, transferred, delivered or otherwise dealt with
if to do so would contravene the Companies Act or any other applicable laws or cause a breach of or default under the Constitution or
the Shareholders Agreement.

 

		20.7.	Scheme costs

 

		(a)	Unless otherwise determined by the Board, the Company must pay all costs relating to the establishment
and operation of the Scheme.

 

		(b)	Each Eligible Person must pay their own costs in connection with their participation under the Scheme,
including all costs to review the documents and information provided to that Eligible Person in connection with the Scheme and all taxes
for which that Eligible Person may be liable as a result of their participation under the Scheme, the issue of Options or Option Shares
or any other dealing with the Options or Option Shares.

 

    Page 19 

     

    

 

		20.8.	Connection with other plans

 

Unless otherwise determined by the Board,
participation under the Scheme does not affect and is not affected by, participation in any other incentive or other plan operated by
the Company unless the terms of that other plan provide otherwise.

 

		20.9.	Rights of third parties

 

No person other than the Company and/or
an Optionholder shall have any right to enforce any provision of the Scheme, these Rules and/or the Letter of Offer by virtue of the Contracts
(Rights of Third Parties) Act, Chapter 53B of Singapore.

 

		20.10.	Governing law, jurisdiction and dispute resolution

 

The Scheme, these Rules and any Letter
of Offer shall be governed by, and construed in accordance with, the laws of the Republic of Singapore. All disputes, controversies or
differences arising out of or in connection with the Scheme, these Rules and/or Letter of Offer, including any question regarding their
existence, validity or termination, shall in the first instance be referred to mediation in Singapore in accordance with the Mediation
Rules of the Singapore International Mediation Centre for the time being in force. In the event that such dispute, controversy or difference
is subsequently referred to the courts of the Republic of Singapore, all relevant parties hereby submit to the exclusive jurisdiction
of the courts of the Republic of Singapore.

 

    Page 20 

     

    

 

		1.	Letter of Offer

 

GENIUSU PTE. LTD.

 

EMPLOYEE SHARE OPTION
SCHEME

 

LETTER OF OFFER

 

	 	Letter of Offer No:                            

 

[Date]

 

	To:	[Name]
	 	[Designation]
	 	[Address]

 

Private and Confidential

 

Dear Sir/Madam,

 

We are pleased to inform you that you have been
nominated by the Board of Directors of Geniusu Pte. Ltd. (UEN: 201541844C) (the “Company”) to participate in
the Geniusu Pte. Ltd. Employee Share Option Scheme (the “Scheme”). Terms as defined in the Scheme and/or the Rules shall have
the same meaning when used in this letter.

 

Accordingly, in consideration of the payment
of a sum of [S$1.00] (receipt of which is acknowledged), the Company offers you, on the
terms of this Letter of Offer and the enclosed Rules, Options, to subscribe for the corresponding number of Option Shares at following
the price for each Option Share.

 

	Number of Options / Option Shares	Exercise Price per Option Share
	 	 
	[Number of Option Shares]*	S$[Exercise Price]*

 

*As may be adjusted by the terms of
the Rules.

 

The terms of issue of the Option are set out in
the Rules, but generally:

 

		(a)	The Option will vest over time in accordance with the Vesting Schedule attached to this letter;

 

		(b)	the Option will be exercisable between the
                                            date an Option vests and [insert date]
                                            being the Expiry Date of such Options;

 

		(c)	the Option is personal to you and shall not be transferred, sold, charged, pledged, assigned or otherwise
disposed of or encumbered, in whole or in part in any way by you, except with the prior written approval of the Board; and

 

		(d)	the Option is not a part of any employment or services contract and the issue and exercise of the Option
will be governed by the terms set out in this letter and the Rules.

 

We suggest that you obtain independent legal and
financial advice to ensure that you understand the implications of the Option and their potential effect on you, including the financial
and taxation implications of the Option.

 

If you wish to accept the offer, please sign and
return the enclosed Acceptance Form before the date that that is 1 month from the date of this Letter of Offer, failing which this offer
will lapse.

 

    Page 21 

     

    

 

Following receipt of your duly signed Acceptance
Form, we will provide you with an option certificate recording the grant of the Option to you, in the form set out in Schedule 3 to the
Rules.

 

Yours faithfully

 

For and on behalf of

 

Geniusu Pte. Ltd.

 

Enc.

 

Annex to Letter of Offer - Vesting Schedule

 

Subject to the Scheme and to the terms of the
accompanying letter of offer, the Option vests at the following times, subject to the following vesting conditions and in the following
manner:

 

		1.	[to insert vesting schedule and/or vesting conditions]

 

2.

 

    Page 22 

     

    

 

ACCEPTANCE FORM

 

	 	Letter of Offer No:                

 

	To:	The Board, Geniusu Pte. Ltd.
	 	 
	 	[address of the Company]
	 	 
	 	Re: Letter of Offer for Geniusu Pte. Ltd. Employee Share Option Scheme

 

Dear Sirs,

 

I have read the Letter of Offer dated [insert]
and the Rules, and accept the grant of the Options on the terms set out in the Letter of Offer and the Rules and I agree to be bound
by the Letter of Offer and the Rules.

 

I further irrevocably appoint each director from
time to time of the Company severally as my attorney (“Attorney”) only to the extent necessary to satisfy my obligations
under and to give effect to this Letter of Offer and the Rules. For those purposes, each Attorney may:

 

		(a)	complete any blanks in any document;

 

		(b)	execute any document in any form as the Attorney thinks fit;

 

		(c)	amend or vary any document as the Attorney thinks fit, and execute any document which effects or evidences
that amendment or variation;

 

		(d)	do anything which in the Attorney’s opinion is necessary, expedient or incidental to, or in any
way relates to this Letter of Offer, the Rules or any document referred to in (a), (b) or (c) above or any transaction contemplated by
this Letter of Offer, the Rules or any document referred to in (a), (b) or (c) above;

 

		(e)	do any thing which I am obligated to do under the terms of this Letter of Offer or the Rules; and

 

		(f)	do any thing which in the Attorney’s opinion is necessary, expedient or desirable to give effect
to the provisions of this Letter of Offer or the Rules.

 

I acknowledge that each Attorney may exercise
the powers of an Attorney under this letter even if the Attorney benefits from the exercise of that power and I undertake to ratify and
confirm any act of an Attorney in exercise of the powers of attorney set out in this Letter of Grant.

 

	SIGNED AND DELIVERED AS A DEED by	)	 
	 	 	 
	[INSERT NAME OF OPTION HOLDER]	)	 
	 	 	 
	in the presence of:	)	 

 

	Signature of Witness	 	[Insert name of Option Holder]
	 	 	 
	Name of Witness	 	 
	 	 	 
	 	 	 

 

    Page 23 

     

    

 

	Occupation of Witness	 
	 	 
	 	 
	Address of Witness	 

 

    Page 24 

     

    

 

		2.	Option Exercise Notice

 

I ________________________________________
(the “Optionholder”) being the registered holder of the Options specified below, elect to exercise those Options
pursuant to rule 9 of the Employee Option Scheme Rules in respect of Geniusu Pte. Ltd. (the “Company”).

 

Options being exercised:

 

Total number of Options being exercised _________________________________________

 

Exercise Price (as stipulated in the Letter
of Offer):

 

Exercise Price per Option  _____________________________________________________

 

Total Exercise Price for Options being exercised

 

____________________________________________________

 

I agree to be bound by the provisions of the Constitution
of the Company, upon being issued Ordinary Shares.

 

Signed by the Optionholder:  ____________________________________________________

 

Date: ______________________________________________________________________

 

    Page 25 

     

    

 

		3.	Option Certificate

 

THIS IS A CERTIFICATE OF SHARE OPTIONS GRANTED
BY GENIUSU PTE. LTD. UNDER THE GENIUSU PTE. LTD. EMPLOYEE SHARE OPTION SCHEME RULES

 

	Name: [insert]	Date of grant: [insert]
	 	 
	Designation: [insert]	Number of options: [insert]
	 	 
	Exercise price: S$[insert price] per option	Exercise period: As set out in the Rules of the Geniusu Pte. Ltd. Employee Share Option Scheme
  and/or the relevant Letter of Offer

 

Vesting Schedule and Conditions:

 

The options will vest as follows:

 

1.       [to
insert vesting schedule and/or vesting conditions]; and

 

2.       [to
insert vesting schedule and/or vesting conditions] .

 

[Note:
This should be the same as what has been stipulated under the Letter of Offer.]

 

The grant of the options is subject to the terms
and conditions set out in the Letter of Offer and the Rules of the Geniusu Pte. Ltd. Employee Share Option Scheme enclosed with the Letter
of Offer.

 

For and on behalf of Geniusu Pte. Ltd.

 

	 	 
	(signature)	 

 

[insert name of Director]

 

Director

 

Date:

 

    Page 26

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