Document:

Exhibit 10.5

 

Dated _________________ 2018

 

Shanghai Distrii Technology Development Co.,
Ltd

 

and

 

Distrii Technology Singapore Pte. Ltd.

 

licence agreement

 

Allen & Gledhill LLP

One Marina Boulevard #28-00 Singapore 018989

Tel: +65 6890 7188 | Fax +65 6327 3800

 

allenandgledhill.com

 

     

     

    

 

TABLE OF CONTENTS

 

	Contents	 	 	Page
	 	 	 	 
	PART 1 – INTRODUCTION	 	1
	 	 	 	 
	1.	Definitions and Interpretation	 	1
	 	 	 	 
	PART 2 – GRANT OF LICENCE	 	1
	 	 	 	 
	2.	Grant of Licence	 	1
	 	 	 	 
	3.	Infringement and Control of Proceedings	 	4
	 	 	 	 
	PART 3 – CONSIDERATION	 	5
	 	 	 	 
	4.	Consideration	 	5
	 	 	 	 
	5.	Taxes	 	6
	 	 	 	 
	6.	Right of Set-off	 	6
	 	 	 	 
	PART 4 – WARRANTIES & INDEMNITIES	 	6
	 	 	 	 
	7.	Corporate Power and Authority	 	6
	 	 	 	 
	8.	Licensor Representations and Warranties	 	7
	 	 	 	 
	9.	Indemnity	 	8
	 	 	 	 
	PART 5 – CONFIDENTIALITY	 	8
	 	 	 	 
	10.	Confidentiality	 	8
	 	 	 	 
	PART 6 – TERM & TERMINATION	 	9
	 	 	 	 
	11.	Term and Termination	 	9
	 	 	 	 
	PART 7 – GENERAL PROVISIONS	 	10
	 	 	 	 
	12.	General	 	10
	 	 	 	 
	Schedule 1 Definitions and Key Definitions	 	14
	 	 	 	 
	Schedule 2 Licensed Assets	 	19

 

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This Agreement is made on _________________
2018 between:

 

		(1)	Shanghai Distrii Technology Development Co., Ltd. (PRC Unified Social Credit Code 91310108MA1G317L9X;
Company Registration No. T17UF3263C), a company incorporated in China with its registered office
at Floor 1, No. 668 Hengfeng Road, Jing’An, Shanghai, People’s Republic of China (“Licensor”); and

 

		(2)	Distrii Technology Singapore Pte. Ltd., a company incorporated in Singapore with company registration
number 201804790N whose registered address is 9 Raffles Place, #01-02 Republic Plaza, Singapore 048619 (the “Licensee”),

 

(“Party”
means Licensor or Licensee and “Parties” means Licensor and Licensee).

 

Whereas:

 

		(A)	Licensee desires to obtain a licence to use the Licensed Assets (defined below) upon and subject to the
terms of this Agreement (defined below).

 

		(B)	Licensor is willing and able to grant Licensee a licence to use the Licensed Assets in the Territories
(defined below) in accordance with the terms and conditions set forth in this Agreement.

 

It is agreed as follows:

 

PART 1 – INTRODUCTION

 

		1.	Definitions and Interpretation

 

		1.1	Unless otherwise defined, the definitions and provisions in respect of interpretation set out in ‎Schedule
1 will apply to this Agreement and its Schedules (collectively “Agreement”).

 

PART 2 – GRANT OF
LICENCE

 

		2.	Grant of Licence

 

		2.1	Licence Grant: Licensor hereby grants to (and in the case of subject matter owned by any Third
Party, shall procure for) Licensee an exclusive (subject to Clause ‎2.3
below), perpetual, irrevocable, royalty-free (save for the Licence Fee payable by Licensee to Licensor prescribed in Clause ‎4
below), fully paid-up, assignable and sub-licensable right and licence to use, exploit, distribute, reproduce, display, create derivative
works, adaptations and modifications of all Licensed Assets (including Intellectual Property Rights therein) throughout the Territories
in any manner and for any purpose.

 

In this Clause ‎2.1,
“use” shall include the right to:

 

		2.1.1	load, install, access, Customise and use the Licensed Assets on any computer systems and/or equipment
selected by Licensee (whether stand-alone, networked, clustered or otherwise and whether for development, disaster recovery, test, production
or other environments), including in conjunction, in association and/or as part of an integrated system with the software, programs or
products of Licensee and/or any Third Party;

 

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		2.1.2	make such copies of the Licensed Assets and related documentation as Licensor regards as necessary, useful
or convenient; and

 

		2.1.3	permit the loading, installation, access, Customisation and use of any Licensed Assets by Licensee’s
third party service providers, including any software development provider and any provider of outsourcing services, data centre services,
facilities management services, application services provider services, disaster recovery services, or other services, including the installation
and use of any Licensed Assets at premises and on hardware controlled by any such service provider.

 

		2.2	Reservation of Licensor rights: Licensor reserves all rights not granted in this Agreement. Further,
nothing in this Agreement shall be construed to transfer any ownership interest in the Licensed Assets to Licensee.

 

		2.3	Exclusivity: The licences granted under Clause ‎2.1
are “exclusive” solely in the manner provided as follows:

 

		2.3.1	Licensor shall not itself use, distribute, reproduce, display, create, commercialise or license derivative
works, adaptations and modifications of any Licensed Assets throughout the Territories in any manner and for any purpose; and

 

		2.3.2	Licensor shall not grant any Third Party any rights and/or licences to use, distribute, reproduce, display,
create, commercialise or license derivative works, adaptations and modifications of any Licensed Assets throughout the Territories in
any manner and for any purpose,

 

save that the Parties
agree and acknowledge that Licensor may utilise the Licensed Assets in the Territories or part thereof solely for the Co-Working Business.

 

		2.4	Perpetual Licence: The grant of the right and license to use the Licensed Assets under this Clause
‎2 shall survive the termination of this Agreement (whether in whole
or in part and howsoever occasioned).  Licensor warrants and undertakes that:

 

		2.4.1	the grant of the right and licence to use the Licensed Assets under this Agreement is absolute, conclusive
and binding upon Licensor and Licensor shall not be entitled, under any circumstances or for any reason whatsoever, to revoke, withdraw
or cancel the rights and licences granted by Licensor under this Clause ‎2;

 

		2.4.2	Licensee’s right to use the Licensed Assets and exploit the Intellectual Property Rights in the
Licensed Assets upon the terms and conditions of this Agreement, shall be binding on every successor in title to Licensor’s right,
title and interest, including Intellectual Property Rights, in the Licensed Assets. Licensor shall provide notice to any prospective successor
in title to its right, title or interest in the Licensed Assets, of Licensee’s rights and licences granted under this Agreement
and shall ensure that: (i) any assignment shall be made subject to the rights and licences of Licensee under this Agreement; and (ii)
the rights and licences granted to Licensee pursuant to this Agreement will not be revoked, terminated or otherwise restricted in any
way by any successor in title; and

 

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		2.4.3	Licensee and Sub-Licensees shall not, under any circumstances or for any reason whatsoever, be required
to return the Licensed Assets (including any related documentation) or any part thereof to Licensor.

 

		2.5	Third Party Licences: With respect to any Intellectual Property Rights in the Licensed Assets which
are owned by a Third Party, Licensor shall be responsible for: (i) procuring, at its own cost, any and all licences from the relevant
Third Parties as is necessary for Licensor to acquire the right and authority to grant the rights set out in Clause ‎2.1 above to
Licensee pursuant to this Agreement; and (ii) providing promptly any appropriate notice and otherwise promptly perfecting the rights and
licences granted to Licensee and by Licensee to any Sub-Licensees. Licensor shall not, without the prior written consent of Licensee,
terminate, restrict or otherwise narrow any of the rights that Licensor has licensed from Third Parties in connection with the licence
granted under this Agreement.

 

		2.6	Technology Transfer: Licensor shall, from the Effective Date, transfer, deliver or otherwise communicate
to Licensee by the Effective Date, all documents and all other materials (including source codes where the Licensed Assets includes software
or otherwise where applicable) which set out, contain, are necessary for the use of or which relate to the Licensed Assets and the subject
matter of the rights and licences set out in this Agreement and provide comprehensive training and support necessary to enable Licensee
and its Sub-Licensees (as the case may be) to exploit fully all rights and licences granted herein (including the rights and licences
which may be sub-licensed to Sub-Licensees by Licensee pursuant to Clause ‎2.1
above).

 

		2.7	Derivative Works: In the event that any enhancements, derivatives, changes, modifications, alterations
or adaptations of or to the Licensed Assets or any part thereof provided to Licensee or any Sub-Licensee in whatever form or medium (collectively
“Derivative Works”), are made, created, developed, or acquired by or on behalf of Licensee and/or any Sub-Licensee,
all rights, title and interest (including Intellectual Property Rights) in all countries of the world, whether vested, contingent or future,
in and to such Derivative Works shall belong exclusively to Licensee and/or the relevant Sub-Licensee, as the case may be, absolutely
free from any encumbrances and may be exercised by Licensee and/or such Sub-Licensee, their successors, assigns and licensees throughout
the world, as the case may be, without prejudice to their other rights and remedies under this Agreement.

 

		2.8	Updates: At all times during the Updates Cooperation Period:

 

		2.8.1	Licensor agrees to inform Licensee by a notice in writing as soon as it has made or acquired any Updates.

 

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		2.8.2	The right to rights granted to Licensee under Clause ‎2.1
above and all other terms and conditions of this Agreement shall extend to and apply mutatis mutandis to any and all such Updates
as and when the same have been made or acquired and each Sub-Licensee shall be entitled to the use thereof upon the terms and conditions
of this Agreement.

 

As soon as reasonably
practicable from the date Distrii Singapore Pte. Ltd. ceases to hold any shares in Licensee, Parties shall enter into good faith discussions
regarding the provision of Updates by Licensor to Licensee, including any fees for such provision of Updates, after the Updates Cooperation
Period.

 

		2.9	Right of assignment

 

		2.9.1	Licensee may assign or novate this Agreement to any Third Party without the approval of Licensor or any
other Third Party and upon such terms and conditions as may be deemed appropriate or necessary by Licensee, in circumstances where such
Licensee proposes to transfer the whole or any part of its undertaking or business to such Third Party. Licensor agrees to, if requested
by Licensee, promptly execute such assignment or novation agreement in the form prescribed by Licensee and further undertakes to do all
things and execute all documents as may be necessary to perfect such assignment, transfer, novation or dealing. Licensee shall inform
Licensor of such assignment or novation in writing as soon as reasonably practicable.

 

		2.9.2	Without prejudice to any other provisions of this Agreement, Licensor undertakes that it shall not assign
the Intellectual Property Rights in and to the Licensed Assets to a Third Party (hereinafter referred to as the “Assignee”)
unless it has obtained the prior written consent of Licensee, ensures that such assignment is made subject to the rights and licences
of Licensee and the rights and licences of the sub-licences granted by Licensee (which rights and licences shall not be terminated or
otherwise restricted in any way by the Assignee).

 

		2.10	Licensor undertakes not to, directly or indirectly, create, allow or enable any charges, liens, pledges,
encumbrances or other security interests whatsoever to be placed on or subsist in relation to the Licensed Assets or any of the rights
or licences granted under this Agreement.

 

		3.	Infringement and Control of Proceedings

 

		3.1	Notification: The Parties hereby undertake to keep one another informed of all infringements and/or
validity challenges on the Intellectual Property Rights in the Licensed Assets which each Party may become aware of during the Term anywhere
in the world. Each Party shall furnish particulars in writing to the other Party of: (i) any activity or proposed activity by a Third
Party which in its reasonable opinion amounts or may amount to infringement of the Intellectual Property Rights in the Licensed Assets
or parts thereof; or (ii) any claim or threatened claim made by a Third Party that certain application(s) or registration(s) of the Licensed
Assets is invalid or that the use of Licensed Assets or parts thereof infringes the rights of Third Parties, as soon as it becomes aware
of the facts pertaining to the aforesaid. Each Party shall make no comment or admission to any Third Party in respect thereof except with
the other Party’s prior written consent.

 

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		3.2	Third Party infringement of Licensed Assets: In relation to any Licensed Assets, Licensor shall
take all necessary actions, at its own costs, to stop all Third Party infringement and unauthorised use of the Intellectual Property Rights
in such Licensed Assets in the Territories. If Licensor does not take any action as described in this Clause ‎3.2
which it ought reasonably to take, Licensee may, after the expiration of one week from the date of notifying Licensor in writing, be entitled
to take the necessary actions, either by itself or through its nominees, and to name Licensor as a party to the actions, if required.
Licensor shall be notified of such actions taken by Licensee and shall reimburse Licensee its reasonable expenses for taking such actions
to protect the Licensed Assets. Licensor agrees to do all things reasonably required to assist Licensee in bringing any proceedings in
relation to the infringement of the Intellectual Property Rights in the Licensed Assets or part thereof, including the execution and/or
lodgement of documents, papers, forms, power of attorneys and authorisations and the deposition or swearing of declarations and/or oaths
which may be necessary in certain countries in the Territories for conferring on Licensee all rights of action in relation to any infringement
by Third Parties. Any or all sums, damages, costs and other monetary benefits or compensation (including any settlement sums) recovered
by Licensee in such proceedings shall be for the sole benefit of Licensee.

 

		3.3	Registration of this Agreement

 

		3.3.1	Licensee shall be entitled to apply at its own cost to the Registrar or the relevant authority in any
country in the relevant Territories for either the registration of this Agreement as a licence or the registration of Licensee and/or
any Sub-Licensee as a registered user or licensee of the Licensed Assets.

 

		3.3.2	Licensor shall co-operate fully with Licensee and/or any Sub-Licensee in making the application(s) referred
to in Clause ‎3.3.1 to the Registrar or such other relevant authority
responsible for keeping registers under which such Intellectual Property Rights are registered in such country, and where Licensee and/or
any Sub-Licensee so requests, promptly execute and/or deliver to Licensee and/or any Sub-Licensee all documents necessary to register
or record this Agreement with such Registrar or relevant authority, and each receipt or confirmation of registration or recordation of
this Agreement issued by such Registrar or relevant authority.

 

PART 3 – CONSIDERATION

 

		4.	Consideration

 

		4.1	Licensee shall pay Licensor a sum of S$10,000.00 (“Licence Fee”) within 10 Business
Days of the date of Completion in accordance with the terms of this Agreement. For the avoidance of doubt, Licensee shall not be obliged
to make any payment under this Clause ‎4.1 until the date of Completion.

 

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		4.2	Mode of payment: All payments made by Licensee to Licensor hereunder shall be made in accordance
with the mode of payment of Licensee’s choice.

 

		4.3	The Licence Fee will constitute all the consideration payable by Licensee for all rights, licences and
services provided under this Agreement and all other rights, benefits, privileges and entitlements granted to Licensee under this Agreement
as well as all of Licensor’s obligations and promises under this Agreement. No further sums, fees, payments, royalties, compensation
or other charges (including all applicable taxes) shall be payable by Licensee or any Sub-Licensee to Licensor in respect thereof.

 

		4.4	All resources to be at Licensor’s own costs: Save as expressly provided in this Agreement,
Licensor shall be responsible for all costs and expenses incurred in carrying out its obligations under this Agreement and shall supply,
at its sole cost and expense, all resources required for the performance of its respective obligations under this Agreement.

 

		5.	Taxes

 

		5.1	Subject to Clause ‎5.2, each Party
shall be responsible for all its own applicable taxes and will pay such applicable taxes directly, if such applicable taxes are levied
or assessed against it.

 

		5.2	Withholding taxes: In the event that Licensee is required to withhold or deduct any taxes of any
kind by any government authority in any jurisdiction from any payments due under this Agreement, Licensor shall bear all such taxes withheld
or deducted and Licensee shall pay to Licensor such payments due to Licensor net of such taxes withheld or deducted without any obligation
to gross up such payment or pay Licensor all or any part of the amount of taxes so withheld or deducted.

 

		6.	Right of Set-off

 

		6.1	Licensee shall be entitled to set-off against any payment due or payable to Licensor under this Agreement,
any sums Licensor is obliged to pay or credit Licensee under this Agreement and such Licensee may by notice to Licensor reduce the Licence
Fee or any fees, royalties or any other charges due or payable to Licensor under this Agreement by any amounts Licensor is obliged to
pay or credit Licensee under this Agreement.

 

PART 4 – WARRANTIES
& INDEMNITIES

 

		7.	Corporate Power and Authority

 

		7.1	Each Party represents and warrants that it is duly organised, validly existing and good standing, and
that the execution, delivery and performance of this Agreement are within their respective corporate powers and have been duly authorised
by each of them with all necessary corporate action. This Agreement is and shall be a legal and valid obligation binding upon all Parties,
enforceable in accordance with its terms.

 

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		8.	Licensor Representations and Warranties

 

		8.1	Licensor warrants, represents and undertakes that:

 

		8.1.1	it has the full right and authority and all required consents, authorisations and/or licences from all
Third Party licensors, to grant the rights and licences set out herein free from any encumbrances which may affect the rights granted
to Licensee;

 

		8.1.2	the use, development or exploitation of the Licensed Assets will not infringe Intellectual Property Rights
or any other right of any Third Party;

 

		8.1.3	the Licensed Assets is not being infringed, attacked or opposed by any person anywhere in the world;

 

		8.1.4	all information in respect of the Licensed Assets given in writing at any time during the Term by or on
behalf of Licensor to Licensee was or will be, when given, the most up-to-date, complete and accurate in all material respects;

 

		8.1.5	save for the rights that Licensor has licensed from Third Parties, as at the Effective Date and throughout
the Term, Licensor is (or, in the case of pending applications, will be) recorded as the proprietor of the applicable Intellectual Property
Rights where registered;

 

		8.1.6	the registered Intellectual Property Rights in and to the Licensed Assets are (or, in the case of pending
applications, will be) valid, subsisting and enforceable and nothing has been done, omitted or permitted nor any event having occurred
whereby such Intellectual Property Rights have ceased or might cease to be valid and enforceable;

 

		8.1.7	it will ensure that the applicable Intellectual Property Rights are renewed when necessary throughout
the Term and that all reasonable steps are taken throughout the Term to secure registration of such Intellectual Property Rights which
are or may be pending registration;

 

		8.1.8	there are no actual or threatened claims, pending or completed claim, action, suit, order or proceeding:
(i) with respect to any Licensed Assets; and (ii) which are inconsistent with or in contest with Licensor’s ownership of the rights,
title and interests in and to the Licensed Assets or its right to licence the Licensed Assets to Licensee;

 

		8.1.9	the Licensed Assets and Licensee’s use thereof do not and will not breach any Laws and Legal Requirements;

 

		8.1.10	no moral rights have been asserted or are likely to be asserted which would affect the use of any of the
Licensed Assets; and

 

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		8.1.11	it shall not: (i) describe or hold itself out as agent or representative of Licensee except for the limited
circumstances and scope expressly authorised by this Agreement or by Licensee in writing, if any; or (ii) incur any liability on behalf
of Licensee or pledge the credit of Licensee in any way or accept any order or make any contract binding upon Licensee without Licensee’s
prior written consent.

 

		9.	Indemnity

 

		9.1	Licensor shall indemnify, defend and hold harmless Licensee and each Sub-Licensee and its and their Affiliates
(save for Licensor Affiliates), and their respective officers, directors, employees, agents, independent contractors, successors, and
assigns (“Indemnitees”) from and against all claims, proceedings, settlement sums, costs, losses, expenses, damages
and other liabilities (including loss of or damage to any property, injury to or death of any person and any legal fees and expenses on
a solicitor-client basis), which are or which may be sustained, instituted, made, threatened or alleged against, suffered or incurred
by any of the Indemnitees, and which may arise out of or in connection with any of the following:

 

		9.1.1	any breach by Licensor of any of its obligations, representations or warranties contained in this Agreement;

 

		9.1.2	any negligent act or omission or wilful default, misconduct or fraud of Licensor or Licensor’s employees,
personnel, secondees, agents, principals and contractors, who are individuals;

 

		9.1.3	any action, claim or demand brought or threatened against any Indemnitee, that alleges or is based on
a claim that the Licensed Assets or the use thereof in the Territories infringes any Intellectual Property Rights or other proprietary
right of any Third Party or gives rise to any liability to pay royalty or other compensation;

 

		9.1.4	any Third Party claim that the use of the Licensed Assets provided by Licensor constitutes misappropriation,
unlawful disclosure or use of any Third Party’s trade secrets or confidential information; and/or

 

		9.1.5	any Third Party claim contesting Licensor’s ownership, right or control over the Licensed Assets,
or Licensor’s right to licence the Licensed Assets to Licensee.

 

		9.2	Notwithstanding and without prejudice to any other provision of this Agreement, except with the prior
written consent of Licensee, Licensor shall not: (i) settle or compromise any cause of action, suit or other proceeding if the settlement
or compromise obliges any Indemnitees to make any payment or bear any liability or be subject to any injunction or other interim measures
by reason of such settlement or compromise; (ii) assume any obligation or grant any rights or licenses on behalf of any Indemnitees; or
(iii) make any statement at any time admitting liability for or on behalf of any Indemnitees.

 

PART 5 – CONFIDENTIALITY

 

		10.	Confidentiality

 

		10.1	All Confidential Information shall be kept confidential by the recipient and shall be used by the recipient
solely and exclusively for discussions concerning, and the undertaking of, the rights and obligations in this Agreement unless:

 

		10.1.1	disclosure or use is required by law or a court of competent jurisdiction, or pursuant to any rules, requirements,
guidelines, regulations or binding orders of any governmental, regulatory, administrative, supervisory or statutory authority or body
(including, without limitation, any securities council) having jurisdiction over any of the Parties or any recognised stock exchange on
which the shares of any Party or its shareholders are listed;

 

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		10.1.2	the disclosure or use is required to vest the full benefit of this Agreement in any Party;

 

		10.1.3	any public announcement or press release relating to this Agreement is reviewed by all Parties so far
as is reasonably practicable;

 

		10.1.4	any Party can reasonably demonstrate that the Confidential Information is, in whole or in part, lawfully
in the possession of the receiving Party without an obligation restricting disclosure before disclosure by the disclosing Party, or not
being due to any act or omission on the part of the receiving Party or its officers, employees, advisers, financiers, consultants and/or
other agents (collectively, the “Representatives”), in the public domain, whereupon, in the event that it is public,
this obligation shall cease; or

 

		10.1.5	any Party can reasonably demonstrate that any such communication, information or material was independently
developed by the receiving Party without use of or reference to the disclosing Party’s Confidential Information,

 

provided that prior
to disclosure or use of any information pursuant to Clauses ‎10.1.1
or ‎10.1.2, the Party concerned shall, to the extent legally permissible
and practicable, promptly notify the disclosing Party of such requirement with a view to providing that disclosing Party with the opportunity
to contest such disclosure or use or otherwise to agree the timing and content of such disclosure or use. The Parties shall use all reasonable
endeavours to procure the observance of the above-mentioned restrictions and shall take all reasonable steps to minimise the risks of
disclosure of the Confidential Information, by ensuring that only such of their employees and directors whose duties will require them
to possess any of such information shall have access thereto, and will be instructed to treat the same as confidential.

 

		10.2	The obligations of each Party under this Clause ‎10
shall survive the termination of this Agreement.

 

PART 6 – TERM &
TERMINATION

 

		11.	Term and Termination

 

		11.1	Term: This Agreement shall commence on the Effective Date and shall continue for the Term, unless
sooner terminated in accordance with this Agreement (the “Term”).

 

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		11.2	Termination by either Party: Without prejudice to any other right of termination afforded to either
Party in this Agreement, this Agreement may be terminated by either Party (“non-defaulting Party”) forthwith on giving
notice to the other Party (“defaulting Party”) if:

 

		11.2.1	the defaulting Party commits any material breach of any of the terms or conditions of this Agreement,
or (in the case of a material breach capable of being remedied) shall have failed, within 14 Business Days (or such longer period as the
non-defaulting Party may in its sole discretion allow) after the receipt of a request in writing from the non-defaulting Party to do so,
to remedy such breach; or

 

		11.2.2	the defaulting Party shall pass a resolution for winding-up, or if the Court shall make or circumstances
arise which entitle the Court to make an order that the defaulting Party shall be wound up (otherwise than for the purpose of a bona-fide
scheme of solvent reconstruction or amalgamation) or if a receiver or manager on behalf of a creditor shall be appointed, or circumstances
arise which entitle the Court or a creditor to appoint a receiver or manager, over the defaulting Party or any part of its undertaking
or assets, or if the defaulting Party shall become subject to a judicial management order or shall enter into any composition or arrangement
with its creditors or shall cease or threaten to cease to carry on business.

 

		11.3	Consequences of termination: Upon the expiry or termination of this Agreement (howsoever occasioned),
all rights and obligations of the Parties shall automatically terminate except for such rights of action as shall have accrued prior thereto
and any obligations which expressly or by implication are intended to come into or continue in force on or after such expiration or termination.

 

PART 7 – GENERAL
PROVISIONS

 

		12.	General

 

		12.1	No Agency: No Party shall: (i) describe or hold itself out as agent or representative of other
parties, or (ii) incur any liability on behalf of any other party or pledge the credit of any other party in any way or accept any order
or make any contract binding upon any other party without such party’s prior written consent.

 

		12.2	Assignment: Save as otherwise provided in this Agreement, none of the Parties may assign or transfer
all or part of its rights or obligations under this Agreement without the prior consent in writing of the other Parties.

 

		12.3	Costs: Each Party shall bear its own costs, legal fees and other expenses incurred in the preparation,
negotiation and execution of this Agreement.

 

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		12.4	Non-waiver: No failure to exercise and no delay in exercising on the part of any Party any right,
power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise of any right, power
or privilege preclude any other or further exercise thereof or any other right, power or privilege.

 

		12.5	Specific Performance: Each Party acknowledges that monetary damages might not be an adequate remedy
for the breach by the other Party of this Agreement and that, in any Proceedings brought under this Agreement, a Party may apply for specific
performance and/or injunctive relief or for other form of relief including damages that may be granted by the court before which such
Proceedings are taking place.

 

		12.6	Illegality

 

		12.6.1	If any provision in this Agreement shall be held to be illegal, invalid or unenforceable, in whole or
in part, the provision shall apply with whatever deletion or modification is necessary so that the provision is legal, valid and enforceable
and gives effect to the commercial intention of the Parties.

 

		12.6.2	To the extent it is not possible to delete or modify the provision, in whole or in part, under Clause
‎12.6.1, then such provision or part of it shall, to the extent that it is illegal, invalid or unenforceable, be deemed not
to form part of this Agreement and the legality, validity and enforceability of the remainder of this Agreement shall, subject to any
deletion or modification made under Clause ‎12.6.1, not be affected.

 

		12.6.3	The illegality, invalidity or unenforceability of any provision of this Agreement under the Laws and Legal
Requirements of any jurisdiction shall not affect its legality, validity or enforceability under any Laws and Legal Requirements of any
other jurisdiction.

 

		12.7	Entire Agreement: This Agreement sets forth the entire agreement and understanding between the
Parties in connection with the matters dealt with and described herein at the date of this Agreement to the exclusion of any terms implied
by law which may be excluded by contract, and no Party has relied on any oral or written representation made to it by the other Party.
This Agreement contains all the rights and obligations between the Parties and shall supersede any prior agreements, arrangements, information,
fact, particulars, documents, deeds, schedules, list, notice, letter, article, email, or correspondence provided by any Party, their agents,
or any other person and also any prior expression of intent, understanding, discussion, representation, warranty, undertaking, promise
or communications (whether written oral or implied) made by one Party or its agent to the other Parties with respect to this transaction,
including the Term Sheet, not expressly set out in this Agreement.

 

		12.8	Variation: No purported variation of this Agreement shall be effective unless: (i) made in writing;
(ii) refers specifically to this Agreement; and (iii) is duly executed by the Parties hereto. Without prejudice to the generality of Clause
‎12.11 below, the Parties’ rights to vary, amend or rescind this Agreement in the manner aforesaid may be exercised without
the consent of any person or entity who is not a party to this Agreement.

 

    11

     

    

 

		12.9	Counterparts: This Agreement may be entered into in any number of counterparts, all of which taken
together shall constitute one and the same instrument. Any Party may enter into this Agreement by signing any such counterpart. Signatures
may be exchanged by facsimile, with original signatures to follow.

 

		12.10	Notices: All notices, requests, demands and other communications required or permitted to be given
or made under this Agreement or in connection therewith shall be given or made in writing and delivered personally or sent by prepaid
registered airmail with recorded delivery, or by email addressed to the intended recipient thereof at its address referred to below or
email address referred to below (or to such other address or email address as any Party may from time to time notify the other Parties).
Any such notice, request, demand or communication shall be deemed to have been duly served (if given or made by email, provided that no
delivery failure in respect of such email is received) immediately or (if given or made by letter) three Business Days after posting and
in proving the same, it shall be sufficient to show that the envelope containing the same was duly addressed, stamped and posted. The
addresses and email addresses of the Parties for the purposes of this Agreement are:

 

 

	Licensor	 	 
	Address	:	Floor 1, No. 668 Hengfeng Road, Jing’An, Shanghai, People’s Republic of China
	Email	:	wujiaqing@distrii.com
	Attention	:	Jiaqing Wu

 

	Licensee	 	 
	Address	:	9 Raffles Place, #06-00 Republic Plaza, Singapore 048619
	Email	:	jo.hu@distrii.com
	Attention	:	Jo Hu

 

		12.11	Rights of Third Parties: Save as otherwise provided in this Agreement, a person or entity who is
not a party to this Agreement shall have no right under the Singapore Contracts (Rights of Third Parties) Act (Chapter 53B) to enforce
any term of this Agreement, regardless of whether such person or entity has been identified by name, as a member of a class or as answering
a particular description. For the avoidance of doubt, nothing in this Clause shall affect the rights of any permitted assignee or transferee
of this Agreement.

 

		12.12	Governing Law and Dispute Resolution

 

		12.12.1	This Agreement shall be governed by, and construed in accordance with, the laws of Singapore.

 

    12

     

    

 

		12.12.2	The Parties irrevocably agree that the courts of Singapore are to have non-exclusive jurisdiction to settle
any disputes which may arise out of or in connection with this Agreement and that, accordingly, any legal action or proceedings arising
out of or in connection with this Agreement (“Proceedings”) may be brought in those courts and the Parties irrevocably
submit to the jurisdiction of those courts.

 

		12.12.3	Notwithstanding Clause ‎12.12.2, in
the case of injunctive relief and receivership, any of the Parties may take Proceedings in any other court of competent jurisdiction and
the taking of Proceedings in one or more jurisdictions shall not preclude that Party from taking Proceedings in any other jurisdiction,
whether concurrently or not.

 

		12.12.4	Nothing in this Clause shall limit the right of any Party to take Proceedings in any other court of competent
jurisdiction nor shall the taking of Proceedings in one or more jurisdictions preclude that Party from taking Proceedings in any other
jurisdiction, whether concurrently or not.

 

		12.13	Independent Contractors: Nothing herein shall be deemed to constitute any Party the partner of
the other nor, except as otherwise herein expressly provided, to constitute any Party the agent or legal representative of the other Parties,
nor to create any fiduciary relationship between the Parties.

 

		12.14	Reasonableness: Each Party confirms it has received independent legal advice relating to all the
matters provided for in this Agreement, and agrees that the provisions of this Agreement (and all documents entered into pursuant to this
Agreement) are fair and reasonable.

 

		12.15	Execution of Instruments: The Parties shall execute and do and procure all other persons, firms
or companies, if necessary, to execute and do all such further instruments, deeds, assurances, acts and things as may be necessary or
desirable so that full effect may be given to the provisions of this Agreement.

 

    13

     

    

 

Schedule 1

Definitions and Key Definitions

 

		1.	Definitions

 

		1.1	In this Agreement, the following expressions shall, unless the context otherwise requires, have the following
meanings:

 

		1.1.1	“Affiliate” means with respect to an entity, another entity Controlling, Controlled
by or under common Control with that entity, where “Control” or its derivatives or variants (i.e. “Controlling”,
“Controlled by” or “under the common Control”) means with regard to an entity at the material time,
the legal, beneficial or equitable ownership, directly or indirectly, of more than 50% of the issued capital or voting rights (or other
ownership interest, if not a corporation) of such entity, or the equivalent right under contract or otherwise, to control or cause the
direction of management and policy decisions of such entity with regard to relevant subjects;

 

		1.1.2	“Assignee” is defined in Clause ‎2.9.2;

 

		1.1.3	“Business Day” means a day which is not a Saturday, a Sunday or a public holiday in
Singapore;

 

		1.1.4	“Completion” shall have the meaning ascribed to it in the JVA;

 

		1.1.5	“Confidential Information” means all know-how, trade secrets, inventions, computer
software and other information of a secret or confidential nature including, without limitation, all proprietary industrial, commercial,
financial and technical information and techniques, whatsoever and in whatever form and medium and whether disclosed orally or in writing,
together with all reproductions in whatsoever form or medium and any part or parts of it;

 

		1.1.6	“Co-Working Business” means either of the following:

 

		(i)	Business Model A: the business of:

 

		(a)	providing use of and access to the Space (or parts thereof, whether on a dedicated or common-use basis)
to end-customers for a fee on prescribed standard terms and conditions and as part of the end-customer’s use; and

 

		(b)	providing all or some of the following services to such end-customers:

 

		(I)	the use and access of furniture, equipment, facilities and/or ancillary services (e.g. internet access
services, reception and/or physical mail acceptance services) available within the Space;

 

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		(II)	rights to participate in community activities in the Space which are exclusive to end-customers (or specified
tiers of end-customers); and

 

		(III)	rights to access and use virtual resources deployed by Licensor for the purpose of facilitating a shared
and networked environment for end-customers (e.g. member-exclusive electronic platforms);

 

OR

 

		(ii)	Business Model B: the business of:

 

		(a)	Business Model A; and

 

		(b)	solely in conjunction with and as part of Business Model A, enabling functionality between two or more
component parts or items of hardware and/or the software forming part of the Licensed Assets, such that hardware installed in the relevant
Space (i.e. the same Space as where Business Model A is conducted in) may be directed to perform its ordinary and customary functions
remotely via a mobile application forming part of the Licensed Assets, by end-customers of Licensor;

 

		1.1.7	“Customise/Customisation” means to:

 

		(i)	enhance;

 

		(ii)	develop;

 

		(iii)	migrate, make or incorporate changes, modifications, additions, alterations, conversions or adaptations;
and/or

 

		(iv)	produce derivative works of,

 

the subject matter in
question (including conversations made to databases, such as changes to the format or data structure thereof, and alterations or modifications
to the parameter settings of software or applications comprised therein);

 

		1.1.8	“defaulting Party” is defined in Clause ‎11.2;

 

		1.1.9	“Derivative Works” is defined in Clause ‎2.7;

 

		1.1.10	“Distrii IT Business” means the commercialisation and/or provision of technology and
software products and/or services (including the services of making available access to software, data and/or content) in the ordinary
course of Licensor’s and its Affiliates’ business, including the provision of technology and software products and services
containing the following functionalities:

 

		(i)	attendance management;

 

		(ii)	task management;

 

    15

     

    

 

		(iii)	distributed conferencing (including video conference, VoIP communications and circuit-switched video conferencing);

 

		(iv)	smart facilities (including the access of secured building spaces and lockers via in-app Bluetooth technology);

 

		(v)	facility booking;

 

		(vi)	management dashboard; and

 

		(vii)	business community and business networking;

 

		1.1.11	“Effective Date” is _________________;

 

		1.1.12	“Indemnitees” is defined in Clause ‎9.1;

 

		1.1.13	“Intellectual Property Rights” means all copyright, patents, trade marks, service marks,
domain names, layout design rights, registered designs, design rights, database rights, trade or business names, rights protecting trade
secrets and confidential information, rights protecting goodwill and reputation, and all other similar or corresponding proprietary rights
and all applications for the same, whether presently existing or created in the future, anywhere in the world, whether registered or not,
and all benefits, privileges, rights to sue, recover damages and obtain relief for any past, current or future infringement, misappropriation
or violation of any of the foregoing rights;

 

		1.1.14	“JVA” means the joint venture agreement dated _________________ entered into between
City Connected Communities Pte. Ltd., Distrii Singapore Pte. Ltd., Licensor and Licensee;

 

		1.1.15	“Laws and Legal Requirements” means any of the following: (i) any laws, legislations,
statutes, principles of equity and regulatory requirements, in any applicable jurisdictions from time to time; (ii) all conditions, regulations,
judgements, injunctions, acts, directives, orders, policies, restrictions, guidelines, quality of service standards, codes of practices,
bye-laws, prohibitions or measures of any kind on the part of any court, governmental, parliamentary, regulatory or other competent authority
in any applicable jurisdictions from time to time; (iii) any permits and licences, applicable or necessary for the performance of an activity
or undertaking in any applicable jurisdictions from time to time; and (iv) industry standards or any codes of conduct or rules of any
industry body, which are applicable to Licensee or any Sub-Licensee;

 

		1.1.16	“Licence Fee” is defined in Clause ‎4.1;

 

		1.1.17	“Licensed Assets” is defined in ‎Schedule
2;

 

    16

     

    

 

		1.1.18	“Licensor Affiliates” means Licensor and its subsidiaries, but excludes Licensee and
Licensee’s subsidiaries;

 

		1.1.19	“non-defaulting Party” is defined in Clause ‎11.2;

 

		1.1.20	“Office Premises” means the lettable area within a building that is used as an office
and excludes any common area within the building;

 

		1.1.21	“Proceedings” is defined in Clause ‎12.12.2;

 

		1.1.22	“Representatives” is defined in Clause ‎10.1.4;

 

		1.1.23	“Source Code” means software expressed in human eye-readable computer language comprising
the properly commented source version and the accompanying comprehensive technical documentation including libraries and dynamic link
libraries (dlls) and .Net assemblies and com objects and other programmable portions needed for any compilation of the said software,
in soft electronic compilable version;

 

		1.1.24	“Space” means such physical space occupied by Licensor and/or its subsidiary under
or with reference to the “Distrii” brand within any Office Premises, provided always that such physical space shall
not exceed 70% of the net lettable area of the relevant building or premise in which such physical space is situated in;

 

		1.1.25	“Sub-Licensee” means any entity which has been granted any right in relation to the
Licensed Asset by Licensee pursuant to Clause ‎2.1 and shall be deemed to include sub-licensees of such entity;

 

		1.1.26	“S$” means the lawful currency of Singapore;

 

		1.1.27	“Term” is defined in Clause ‎11.1;

 

		1.1.28	“Term Sheet” means the binding term sheet for the proposed joint venture entered into
between City Connected Communities Pte. Ltd., Distrii Singapore Pte. Ltd. and Licensor on 26 February 2018;

 

		1.1.29	“Territories” means all countries in the South East Asia region, namely Brunei, Cambodia,
East Timor, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, and such other territories as the Parties
may agree in writing;

 

		1.1.30	“Third Party” means any legal entity, company or person that is not a party to this
Agreement, and “Third Parties” shall mean persons who are not a party to this Agreement;

 

		1.1.31	“Updates” means all modifications or enhancements to software, including but not limited
to new releases of the software or part thereof, designed to improve the functionality, performance, accuracy or ease of use of the any
part of the Licensed Assets as may be developed by or on behalf of Licensor and/or its Affiliates;

 

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		1.1.32	“Updates Cooperation Period” means the period starting on the Effective Date and ending
on the date being one (1) year from the date Distrii Singapore Pte. Ltd. and its Affiliates ceases to hold any shares in Licensee; and

 

		1.1.33	“Works” means works of authorship, ideas, concepts, processes, platforms, interfaces,
discoveries, methods, inventions, technologies, designs, creations and developments, know-how, techniques, methodologies, software, programs,
scripts, macros and any code of any type or language, data, databases, information, documentation, reports, specifications, visual images,
graphics, artwork, drawings, photographs, logos, marks, designs, diagrams, animation, visual effects, video, audio, music, sound recordings
and/or any other materials, in whatever form or medium (including software or applications facilitating the use of any of the above and
object code, Source Code or digital equivalents of all the aforementioned subject matter), whether or not patentable, copyrightable or
subject to other forms of protection, and in any language.

 

		2.	Interpretation

 

		2.1	In this Agreement: (i) references to a Clause or Schedule, or any other agreement or document in this
Agreement shall be deemed to refer to the clause or schedule of this Agreement, or such other agreement or document, as may be amended,
modified or supplemented from time to time, and will include a reference to any document which amends, modifies or supplements it, or
is entered into, made or given pursuant to or in accordance with its terms, unless otherwise expressly provided; (ii) references to Parts
and Sections shall be deemed to refer to the parts and sections of the relevant Schedule; (iii) clause headings are inserted for convenience
of reference only and shall not be deemed to be part of this Agreement or be taken in consideration in the interpretation or construction
of this Agreement; (iv) words importing the singular only shall also include the plural and vice versa where the context requires; (v)
whenever the words “include”, “includes” or “including” are used in this Agreement,
they will be deemed to be followed by the words “without limitation”; (vi) unless expressly indicated otherwise, all
references to a number of days mean calendar days, and the words “month” or “monthly” as well as
all references to a number of months means calendar months; (vii) an expression importing a natural person shall include an individual,
corporation, company, partnership, firm, trustee, trust, executor, administrator or other legal personal representative, unincorporated
association, joint venture, syndicate or other business enterprise, any Governmental Body (notwithstanding that “person”
may be sometimes used herein in conjunction with some of such words), and their respective successors, legal personal representatives
and assigns, as the case may be, and pronouns shall have a similarly extended meaning. References to a company shall be construed so as
to include any company, corporation or other body corporate wherever and however incorporated or established; (viii) any reference to
any Party will be construed as a reference to such Party’s successors and permitted assigns; (ix) “may” means
has the right, but not the obligation to do something and “may not” means does not have the right to do something;
(x) “will” and “shall” are expressions of command, not merely expressions of future intent or expectation;
(xi) “written” or “in writing” is used for emphasis in certain circumstances, but that will not
derogate from the general application of the notice requirements set forth in Clause ‎12.10
in those and other circumstances; (xii) any pronoun shall include the corresponding masculine, feminine and neuter forms; (xiii) unless
the context otherwise requires, any definition or reference to any instrument, statute or statutory provision shall be construed as referring
to such instrument, statute or statutory provision as from time to time amended, supplemented, extended, consolidated or replaced and
subject to any restrictions on such amendments, supplements, extensions, consolidations or replacements and any orders, regulations, instruments
or other subordinate legislation made thereunder except to the extent that such amendment would otherwise create or increase any liability
of any Party; (xiv) the words "herein", "hereof" and “hereunder" and words of similar
import shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof; (xv) dates and times
are to Singapore time; and (xvi) the word “subsidiary” shall have the same meaning in this Agreement as its definition
in the Companies Act, Chapter 50 of Singapore.

 

		2.2	Except as otherwise set forth in the body of this Agreement (i.e., Clauses 1 through ‎12) or in any
of the Schedules, in the event of a conflict or inconsistency between any two or more provisions under this Agreement, whether such provisions
are contained in the same or different documents, the provisions in the body of this Agreement shall prevail.

 

		2.3	No provision of this Agreement will be construed adversely to a Party solely on the ground that the Party
was responsible for the preparation of this Agreement or that provision.

 

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Schedule 2

Licensed Assets

 

“Licensed Assets” means all
Works whether now existing or in the future created, which is used or enjoyed or capable of being used or enjoyed, in or in connection
with the Distrii IT Business, including the following:

 

Part 1: Technology and Know-How

 

		1.	Systems, platform and software:

 

		1.1	Basic Design Overview

 

		1.1.1	mainstream enterprise application system solutions include the following requirements:

 

		(i)	持久性 (persistence):
achieve data storage, processing, data and object mapping, data caching;

 

		(ii)	事务 (transaction):
ensure that a group of related operations are smooth and complete;

 

		(iii)	安全性 (security):
ensure system communication security, data security;

 

		(iv)	负载均衡
(load balance): keep the system available when there is a lot of concurrent access;

 

		(v)	监控 (system monitoring/management):
monitor system health and set system parameters;

 

		(vi)	日志 (logging):
record system operation and exceptions, record specific user actions; and

 

		(vii)	认证/权限/组织角色管理
(authentication/authorization): manage system users, organize authority structure, and restrict specific users' access to specific
functions and specific data.

 

		1.1.2	all Works which are used or enjoyed or capable of being used for the use, maintenance, design, development
or manufacture of any products and/or services forming part of the Distrii IT Business, including such products and services containing
or capable of, as the case may be, any one or more of the following features:

 

		(i)	building access management (including mobile turnstile access and mobile lift access);

 

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		(ii)	tenant management (including user management, access management to the building and subscribed services,
communication channels and tenant feedback);

 

		(iii)	task management (including Inbox, messages and notifications);

 

		(iv)	distributed conferencing (including video conference, VoIP communications and circuit-switched video conferencing);

 

		(v)	smart facilities (including the access of secured building spaces, Distrii work station, printers and
lockers via in-app Bluetooth technology);

 

		(vi)	facility booking (including Distrii and CDL meeting room booking and administration);

 

		(vii)	homepage management (including newsfeed, personalized favourite app features and reminder);

 

		(viii)	administration dashboard (including user account management, access card management, services management,
and system maintenance management);

 

		(ix)	management dashboard (including statistics and reports); and

 

		(x)	business community and business networking,

 

including and all Works
(including Source Code) necessary to enable a reasonable skilled engineer to manufacture and maintain such products and services without
reference to any other person or documents.

 

		1.1.3	System Architecture 

 

		(i)	in accordance with
the strict J2EE architecture standards, based on J2EE application schema definition using four-tier architecture to achieve, it avoids
the limitations of the traditional two-tier structure, can provide sufficient scalability, configurability, accessibility and manageability.

The system is divided into: data access layer, business logic layer, application layer (controller
/ AJAX / interface) and presentation layer, a total of four logic levels. 

 

		(a)	Data Access Layer: Simple database operations implemented
by Hibernate, complex business logic such as batch processing by JDBC call SQL or stored procedure.

 

		(b)	Business logic layer: This layer provides basic business
services, processing related business logic, by the Spring to provide transaction support. Service layer calls the underlying data extraction
and inter-related to form a complete business operation; therefore, a complete business logic will be executed when application layer
calls. 

 

    20

     

    

 

		(c)	Application layer: This layer provides access to the business logic according to the calling methods.

 

		(I)	Controller: Controller uses SpringMVC's MultiActionController as a base class, and the same module
shares a control class. Each method completes an independent and complete business operation. Under normal circumstances the data update
operations due to the Spring transaction management, each method corresponds only to a method in the Service.

 

		(II)	AJAX: Simplify Web applications and improve user experience by effectively using AJAX.

 

		(III)	Interface: Through the open interface, allowing interaction with external systems.

 

		(d)	Presentation Layer: This layer focuses on data presentation and system usability. It uses a Web
framework (such as SpringMVC) and AJAX to simplify Web applications implementation.

 

		1.1.4	Content & Databases

 

		(i)	Database (product/version): MySQL 5.6

 

		(ii)	Data Sheet Classification 

 

		(a)	According to the “processing characteristics”, the data table is classified as follows:

 

		(I)	Business data sheet: record the business process and result;

 

		(II)	Basic coding table: describes the basic information and coding of business entities;

 

		(III)	Auxiliary code list: description list of attributes;

 

		(IV)	System information table: storage and system operations, business control-related parameters;

 

		(V)	Cumulative data table: store the current value and accumulated value of the business;

 

		(VI)	Settlement data sheet: the number of balances at the end of each period is stored; and

 

		(VII)	Decision data table: stores statistical values that
occur during each period.

 

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		1.1.5	Technical standards

 

		(i)	JDK version: 1.7.0

 

		(ii)	JEE specification: 5.0

 

		(iii)	JS specification: 2.0

 

		(iv)	Servlet specification: 2.5

 

		(v)	Tomcat version: 7.0

 

		(vi)	MySQL version: 5.6

 

		(vii)	Apache version: 2.2

 

		1.1.6	Technology used

 

		(i)	Spring cloud

 

		(a)	Version: 2.0.0

 

		(b)	Spring Cloud is an ordered collection of frameworks. It takes advantage of Spring Boot's ease of development
to intelligently simplify the development of distributed systems infrastructure such as service discovery registration, configuration
centre, message bus, load balancing, circuit breakers, data monitoring, etc., all with Spring Boot's development style to a key start
and deployment. Spring does not duplicate the manufacturing wheels. Instead, it just combines the more mature and proven service frameworks
currently being developed by various companies to repack through Spring Boot styles to mask the complex configuration and principles that
eventually lead to development and sets aside a set of easy to understand, easy to deploy and maintain the distributed system development
kit.

 

		(ii)	Spring boot

 

		(a)	Version: 2.0.0

 

		(b)	Spring Boot is designed to simplify the initial setup and development of new spring applications. The
framework uses a specific way to configure, so that developers no longer need to define the model configuration. In this way, Spring Boot
is committed to being a leader in the fast-growing application development area (rapid application development) as a leader.

 

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		(iii)	Node.js

 

		(a)	Version: 8.9.0

 

		(b)	Node.js is a Javascript runtime, released in May 2009 and developed by Ryan Dahl, essentially encapsulating
the Chrome V8 engine. Node.js optimizes some special use cases to provide alternative APIs to make V8 work better in non-browser environments.

 

		(iv)	Spring framework

 

		(a)	Version: 4.0.2.RELEASE

 

		(b)	A comprehensive, multi-level, lightweight J2EE application integration framework that provides a new mechanism
to manage the business object dependencies.

 

		(v)	Hibernate

 

		(a)	Version: 4.2.2.Final

 

		(b)	A lightweight Java object persistence wrapper framework that provides a complete solution for managing
persistent data problems. It can be used to replace most of the JDBC code in Java applications or as a persistence framework in a J2EE
system.

 

		(vi)	Log4j

 

		(a)	Version: 1.2.17

 

		(b)	An open-source Apache project that uses Log4j to control the delivery of log messages to consoles, files,
GUI components, even socket servers, NT event loggers, UNIX Syslog daemons, and so on; we also can control the output format of each log;
by defining the level of each log message, we can more carefully control the log generation process.

 

		(vii)	Bootstrap

 

		(a)	Version: 3.3.7

 

		(b)	Bootstrap, from Twitter, is currently the most popular front-end framework. Bootstrap is based on HTML,
CSS, JAVASCRIPT, responsive, flat design, simple and flexible, friendly interface, the client display adaptive, making Web development
more efficient.

 

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		(viii)	jQuery

 

		(a)	Version: 2.0.10

 

		(b)	jQuery is a fast, concise JavaScript framework that is another excellent JavaScript code base (or JavaScript
framework) after Prototype. The purpose of jQuery Design is “Write Less, Do More”, which advocates writing less code
and doing more. It encapsulates common JavaScript function codes, providing a simple JavaScript design pattern that optimizes HTML document
manipulation, event handling, animation design, and Ajax interaction. The core features of jQuery
can be summarized as: a unique chain of grammar and short clear multi-functional interface; css selector with efficient and flexible,
and the CSS selector can be extended; has a convenient plugin extension mechanism and rich plug-ins. jQuery compatible with all major
browsers.

 

		(ix)	Vue.js

 

		(a)	Version: 2.2

 

		(b)	Vue.js is a progressive framework for building data-driven web interfaces.
The goal of Vue.js is to implement the data binding and combined view components of the response with as simple an API as possible.

 

		2.	High Level System Architecture Diagram

 

 

 

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		3.	Features description 

 

		3.1	Function Tree Diagram

 

 

 

		3.2	Feature and function description

 

		3.2.1	Building Feedback

 

		(i)	Allow tenants/users to submit feedback through a form on the mobile
application to the building admin/management.

 

		3.2.2	News feed

 

		(i)	In the homepage there is a section that allows application admin
to post mass messaging from the backend management platform.

 

		3.2.3	Flexible station

 

		(i)	Able to view available work station located at co-working space
and make booking.

 

		3.2.4	Meeting Room Booking

 

		(i)	Booking of meeting room through the application and website.

 

		3.2.5	Community

 

		(i)	Allow tenant/user/company to post events or services and also link
up with other tenant/user/company to use their services or participate in their events.

 

		3.2.6	Personalized messaging

 

		(i)	Able to send messages to other users through the mobile application.

 

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		3.2.7	Cloud printing

 

		(i)	Able to send and release print jobs through the mobile application.

 

		3.2.8	Smart lockers

 

		(i)	Book smart locker using the mobile application and open smart locker
through the application.

 

		3.2.9	Online Form Submission

 

		(i)	Able to submit predefined documents through the mobile application
and able to monitor the processing status through the mobile application.

 

Part 2: Updates

 

In this Agreement, “Licensed Assets”
shall be deemed to include all Updates to any Licensed Assets.

 

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In witness whereof this Agreement has been
entered into on the date stated at the beginning.

 

	Licensor

 

	
    SIGNED by _________________

     

    for and on behalf of

     

    Shanghai Distrii Technology Development Co., Ltd.

     

    in the presence of:
	
    

    

    

    

    

    

    

 

	___________________________________
	Witness’ signature
	 
	Name:
	 
	Address:

 

  

Licence Agreement

 

     

     

    

 

Licensee

 

	
    SIGNED by _________________

     

    for and on behalf of

     

    Distrii Technology Singapore Pte. Ltd.

     

    in the presence of:
	
    

    

    

    

    

    

    

 

	___________________________________	 
	Witness’ signature	 
	 	 
	Name:	 
	 	 
	Address:	 

 

 

Licence Agreement

 

     

     

    

 

Execution Version

 

Dated ______________

 

Shanghai Distrii Technology Development
Co., Ltd

 

and

 

Distrii Technology Singapore Pte.
Ltd.

 

ADDENDUM NO. 1 TO LICENCE AGREEMENT

 

 

 

 

 

 

Allen & Gledhill LLP

One Marina Boulevard #28-00 Singapore 018989

Tel: +65 6890 7188 | Fax +65 6327 3800

 

allenandgledhill.com

 

     

     

    

 

TABLE OF CONTENTS

 

	Contents	Page
	 	 
	1	Definitions	1
	2.	Effect
    of this Addendum	1
	3.	Variation
    of the Agreement	2
	4.	General
    provisions	3
	Schedule
    1 Schedule 2 (Licensed Assets)	5

 

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This Addendum No. 1 to the Agreement (the “Addendum”)
is made on ______________ between:

 

	(1)	Shanghai Distrii Technology Development Co., Ltd. (PRC Unified Social Credit
Code 91310108MA1G317L9X; Company Registration No. T17UF3263C), a company incorporated in China with its registered office at Floor
1, No. 668 Hengfeng Road, Jing’An, Shanghai, People’s Republic of
China (“Licensor”); and

 

	(2)	Distrii Technology Singapore Pte. Ltd., a company incorporated in Singapore
with company registration number 201804790N whose registered address is 9 Raffles Place, #01- 02 Republic Plaza, Singapore 048619 (the
“Licensee”).

 

Whereas:

 

	(A)	The Parties had entered into the Licence Agreement dated 18 May 2018 (the “Agreement”),
under which the Licensor agreed to grant the Licensee a licence to use the Licensed Assets in the Territories in accordance with the terms
and conditions of the Agreement.

 

	(B)	The Parties desire to enter into this Addendum to amend the terms and conditions
of the Agreement, in consideration of the mutual promises and covenants contained herein.

 

It is agreed as follows:

 

	1.	Definitions

 

	1.1	Capitalised terms and expressions used in this Addendum shall have the same meanings
given to them under the Agreement, unless otherwise stated herein or the context otherwise requires.

 

	2.	Effect of this Addendum

 

	2.1	This Addendum will become effective on and from (the “Addendum
Effective Date”).

 

	2.2	The Parties agree that this Addendum is to set out the Parties agreement to amend
the terms and conditions of the Agreement in accordance with Clause 3 below.

 

	2.3	The Parties agree that this Addendum when signed, shall constitute a supplement
to and be read in conjunction with the Agreement, provided that in the event of any conflict or inconsistency between any provision of
the Agreement and the provisions of this Addendum, such conflicting or inconsistent provision of the Agreement shall be deemed to have
been varied to give effect to the provisions of this Addendum insofar as the conflicting or inconsistent provision relates directly to
the subject matter hereof but not otherwise.

 

	2.4	Subject to Clause 2.2 of this Addendum, the terms and conditions of the Agreement
shall continue in full force and effect.

 

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	3.	Variation of the Agreement

 

The Parties agree to vary the terms of the Agreement as
follows:

 

	3.1	Variation to Clause 2 of the Agreement:

 

		3.1.1	Clause 2.1 (Licence Grant) of the Agreement shall be amended by replacing
the words “and for any purpose” with the words “in connection with the operation, maintenance and/or marketing
of any real estate or property anywhere in the world which is owned, operated or managed by CDL, any of its Affiliates, or any entity
in which CDL or any of its Affiliates have an interest”.

 

		3.1.2	Clause 2.3 (Exclusivity) of the Agreement shall be deleted.

 

		3.1.3	Clause 2.8 (Updates) of the Agreement shall be deleted.

 

		3.1.4	Clause 2.9.1 of the Agreement shall be deleted and replaced with the following:

 

Licensee may assign or novate
this Agreement to any Third Party without the approval of Licensor or any other Third Party and upon such terms and conditions as may
be deemed appropriate or necessary by Licensee, in circumstances where such Licensee proposes to transfer the whole or any part of its
undertaking or business to such Third Party, to use the Licensed Assets strictly in accordance with this Agreement (including Clause 2.1).
Licensor agrees to, if requested by Licensee, promptly execute such assignment or novation agreement in the form prescribed by Licensee
and further undertakes to do all things and execute all documents as may be necessary to perfect such assignment, transfer, novation or
dealing. Licensee shall inform Licensor of such assignment or novation in writing as soon as reasonably practicable.

 

		3.1.5	Clause 2.9.2 of the Agreement shall be deleted and replaced with the following:

 

Licensor is entitled to assign
the Intellectual Property Rights to the Licensed Assets to a third party with Licensee’s prior written consent, and Licensee agrees
not to unreasonably withhold such consent.

 

	3.2	Deletion of Clause 3 of the Agreement: Clause 3 (Infringement and Control of Proceedings)
of the Agreement shall be deleted.

 

	3.3	Deletion of Clause 8 of the Agreement: Clause 8 (Licensor Representations and Warranties)
of the Agreement shall be deleted.

 

	3.4	Variation to Clause 9 of the Agreement:

 

		3.4.1	Clauses 9.1.1, 9.1.2 and 9.1.5 of the Agreement shall be deleted.

 

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		3.4.2	A new Clause 9.3 shall be added as the following:

 

Liability Limit: To the
extent permitted by applicable laws, neither Party shall be liable to the other for any Excluded Claims. For the avoidance of doubt, no
limit shall apply to any Claims where the first event which gives rise to any such Claim occurs during the period starting on 18 May 2018
to the date three years from the Addendum Effective Date (both dates inclusive). In this Agreement:

 

		9.3.1	“Claim” means all claims, liabilities, losses, demands, damages,
liens, causes of action of any kind, obligations, costs, judgments, interest and awards (including recoverable legal counsel fees and
costs of litigation of the person asserting the Claim), whether arising by law, contract, tort, voluntary settlement or otherwise, in
connection with this Agreement or any claims, liabilities occurred in Clause 9.1 of the Agreement.

 

		9.3.2	“Excluded Claim” means a Claim where the first event which
gives rise to any such Claim occurs on a date three years after the Addendum Effective Date.

 

	3.5	Variation to Schedule 1 of the Agreement: Schedule 1 of the Agreement shall
be amended as follows:

 

		3.5.1	Paragraph 1.1.6 of Schedule 1 of the Agreement shall be deleted.

 

		3.5.2	Paragraph 1.1.24 of Schedule 1 of the Agreement shall be deleted.

 

		3.5.3	Paragraph 1.1.29 of Schedule 1 of the Agreement shall be deleted and replaced with the following:

 

“Territories” means
all countries in the world.

 

		3.5.4	Paragraph 1.1.31 of Schedule 1 of the Agreement shall be deleted.

 

		3.5.5	Paragraph 1.1.32 of Schedule 1 of the Agreement shall be deleted.

 

	3.6	Variation to Schedule 2 of the Agreement: Schedule 2 of the Agreement shall
be deleted and replaced with Schedule 1 of this Addendum.

 

	4.	General provisions

 

	4.1	Entire Agreement: This Addendum sets forth the entire agreement and understanding
between the Parties in connection with the matters dealt with and described herein at the date of this Addendum to the exclusion of any
terms implied by law which may be excluded by contract, and no Party has relied on any oral or written representation made to it by the
other Party. This Addendum contains all the rights and obligations between the Parties and shall supersede any prior agreements, arrangements,
information, fact, particulars, documents, deeds, schedules, list, notice, letter, article, email, or correspondence provided by any Party,
their agents, or any other person and also any prior expression of intent, understanding, discussion, representation, warranty, undertaking,
promise or communications (whether written oral or implied) made by one Party or its agent
to the other Parties with respect to this transaction not expressly set out in this Addendum.

 

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	4.2	Variation: No purported variation of this Addendum shall be effective unless:
(i) made in writing; (ii) refers specifically to this Addendum; and (iii) is duly executed by the Parties hereto. Without prejudice to
the generality of Clause 4.4 below, the Parties’ rights to vary, amend or rescind this Addendum in the manner aforesaid may be exercised
without the consent of any person or entity who is not a party to this Addendum.

 

	4.3	Counterparts: This Addendum may be entered into in any number of counterparts,
all of which taken together shall constitute one and the same instrument. Any Party may enter into this Addendum by signing any such counterpart.
Signatures may be exchanged by facsimile, with original signatures to follow.

 

	4.4	Rights of Third Parties: Save as otherwise provided in this Addendum, a
person or entity who is not a party to this Addendum shall have no right under the Singapore Contracts (Rights of Third Parties) Act 2001
to enforce any term of this Addendum, regardless of whether such person or entity has been identified by name, as a member of a class
or as answering a particular description. For the avoidance of doubt, nothing in this Clause shall affect the rights of any permitted
assignee or transferee of this Addendum.

 

	4.5	Governing Law and Dispute Resolution

 

		4.5.1	This Addendum shall be governed by, and construed in accordance with, the laws
of Singapore.

 

		4.5.2	The Parties irrevocably agree that the courts of Singapore are to have non-exclusive
jurisdiction to settle any disputes which may arise out of or in connection with this Addendum and that, accordingly, any legal action
or proceedings arising out of or in connection with this Addendum (“Proceedings”) may be brought in those courts and
the Parties irrevocably submit to the jurisdiction of those courts.

 

		4.5.3	Notwithstanding Clause 4.5.2, in the case of injunctive relief and receivership,
any of the Parties may take Proceedings in any other court of competent jurisdiction and the taking of Proceedings in one or more jurisdictions
shall not preclude that Party from taking Proceedings in any other jurisdiction, whether concurrently or not.

 

		4.5.4	Nothing in this Clause shall limit the right of any Party to take Proceedings in
any other court of competent jurisdiction nor shall the taking of Proceedings in one or more jurisdictions preclude that Party from taking
Proceedings in any other jurisdiction, whether concurrently or not.

 

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Schedule 1

 Schedule 2 (Licensed
Assets)

 

“Licensed Assets”
means all Works which were licensed by Licensor to Licensee during the period starting on 18 May 2018 to the Addendum Effective Date and
used in connection with the CityNexus application, including the following:

 

	1.	Systems, platform and software:

 

	1.1	Basic Design Overview

 

		1.1.1	mainstream enterprise application system solutions include the following requirements:

 

		(i)	持 久 性
(persistence): achieve data storage, processing, data and object mapping, data caching;

 

		(ii)	事务(transaction):
ensure that a group of related operations are smooth and complete;

 

		(iii)	安全性 (security): ensure system communication
security, data security;

 

		(iv)	负 载
均 衡 (load balance): keep the system available when there is a lot of concurrent access;

 

		(v)	监 控
(system monitoring/management): monitor system health and set system parameters;

 

		(vi)	日志 (logging):
record system operation and exceptions, record specific user actions; and

 

		(vii)	认证/权限/组织角色管理
(authentication/authorization): manage system users, organize authority structure, and restrict specific users' access to specific
functions and specific data.

 

		1.1.2	all Works which are used or enjoyed or capable of being used for the use, maintenance,
design, development or manufacture of any products and/or services forming part of the Distrii IT Business, including such products and
services containing or capable of, as the case may be, any one or more of the following features:

 

		(i)	building access management (including mobile turnstile access and mobile lift
access);

 

		(ii)	tenant management (including user management, access management to the building
and tenant feedback);

 

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		(iii)	task management (including Inbox, messages and notifications);

 

		(iv)	distributed conferencing;

 

		(v)	smart facilities (including the access of secured building spaces, Distrii work
station, printers and lockers via in-app Bluetooth technology);

 

		(vi)	facility booking (including Distrii and CDL meeting room booking and administration);

 

		(vii)	homepage management (including newsfeed, personalized favourite app features);

 

		(viii)	administration dashboard (including user account management, access card management,
services management, and system maintenance management); and

 

		(ix)	management dashboard (including statistics and reports),

 

including and all Works (including Source Code) necessary
to enable a reasonable skilled engineer to manufacture and maintain such products and services.

 

		1.1.3	System Architecture

 

		(i)	in accordance with the strict J2EE architecture standards, based on J2EE application
schema definition using four-tier architecture to achieve, it avoids the limitations of the traditional two-tier structure, can provide
sufficient scalability, configurability, accessibility and manageability. The system is divided into: data access layer, business logic
layer, application layer (controller / AJAX / interface) and presentation layer, a total of four logic levels.

 

		(a)	Data Access Layer: Simple database operations implemented by Mybatis, complex
business logic such as batch processing by Mybatis call SQL or stored procedure.

 

		(b)	Business logic layer: This layer provides basic business services, processing
related business logic, by the SpringCloud to provide transaction support. Service layer calls the underlying data extraction and inter-related
to form a complete business operation; therefore, a complete business logic will be executed when application layer calls.

 

		(c)	Application layer: This layer provides access to the business logic according
to the calling methods.

 

		(I)	Controller: Controller uses Springboot controller as a base class, and the
same module shares a control class. Each method completes an independent and complete business operation. Under normal circumstances
the data update operations due to the SpringCloud transaction management, each method corresponds only to a method in the Service.

 

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		(II)	AJAX: Simplify Web applications and improve user experience by effectively using AJAX.

 

		(III)	Interface: Through the open interface, allowing interaction with external systems.

 

		(d)	Presentation Layer: This layer focuses on data presentation and system usability.
It uses a Web framework (such as Springboot) and AJAX to simplify Web applications implementation.

 

		1.1.4	Content & Databases

 

		(i)	Database (product/version): MySQL 5.6

 

		(ii)	Data Sheet Classification

 

		(a)	According to the “processing characteristics”, the data table is classified
as follows:

 

		(I)	Business data sheet: record the business process and result;

 

		(II)	Basic coding table: describes the basic information and coding of business entities;

 

		(III)	Auxiliary code list: description list of attributes;

 

		(IV)	System information table: storage and system operations, business control-related parameters;

 

		(V)	Cumulative data table: store the current value and accumulated value of the business; and

 

		(VI)	Decision data table: stores statistical values that occur during each period.

 

		1.1.5	Technical standards

 

		(iii)	JDK version: 1.8.0

 

		(iv)	SpringCloud: 1.5.6

 

		(v)	RabbitMQ 3.6.8

 

		(vi)	Erlang: 19.0.4

 

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		(vii)	MySQL version: 5.6

 

		1.1.6	Technology used

 

		(viii)	Spring cloud

 

		(a)	Version: 1.5.6

 

		(b)	Spring Cloud is an ordered collection of frameworks. It takes advantage of Spring
Boot's ease of development to intelligently simplify the development of distributed systems infrastructure such as service discovery registration,
configuration centre, message bus, load balancing, circuit breakers, data monitoring, etc., all with Spring Boot's development style to
a key start and deployment. Spring does not duplicate the manufacturing wheels. Instead, it just combines the more mature and proven service
frameworks currently being developed by various companies to repack through Spring Boot styles to mask the complex configuration and principles
that eventually lead to development and sets aside a set of easy to understand, easy to deploy and maintain the distributed system development
kit.

 

		(ix)	Spring boot

 

		(a)	Version: 1.5.6

 

		(b)	Spring Boot is designed to simplify the initial setup and development of new spring
applications. The framework uses a specific way to configure, so that developers no longer need to define the model configuration. In
this way, Spring Boot is committed to being a leader in the fast-growing application development area (rapid application development)
as a leader.

 

		(x)	Node.js

 

		(a)	Version: 12.16.0

 

		(b)	Node.js is a Javascript runtime, released in May 2009 and developed by Ryan Dahl,
essentially encapsulating the Chrome V8 engine. Node.js optimizes some special use cases to provide alternative APIs to make V8 work better
in non-browser environments.

 

		(xi)	Spring framework

 

		(a)	Version: 4.0.2.RELEASE

 

		(b)	A comprehensive, multi-level, lightweight J2EE application integration framework
that provides a new mechanism to manage the business object dependencies.

 

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		(xii)	Logback

 

		(a)	Version: 1.1.1

 

		(b)	An open-source Apache project that uses Log4j to control the delivery of log messages
to consoles, files, GUI components, even socket servers, NT event loggers, UNIX Syslog daemons, and so on; we also can control the output
format of each log; by defining the level of each log message, we can more carefully control the log generation process.

 

		(xiii)	Vue.js

 

		(a)	Version: 2.5.16

 

		(b)	Vue.js is a progressive framework for building data-driven web interfaces. The
goal of Vue.js is to implement the data binding and combined view components of the response with as simple an API as possible.

 

	2.	High Level System Architecture Diagram

 

 

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	3.	Features description

 

	3.1	Function Tree Diagram

 

 

 

	3.2	Feature and function description

 

		3.2.1	Building Feedback

 

		(i)	Allow tenants/users to submit feedback through a form on the mobile application
to the building admin/management.

 

		3.2.2	News feed

 

		(i)	In the homepage there is a section that allows application admin to post mass messaging
from the backend management platform.

 

		3.2.3	Meeting Room Booking

 

		(i)	Booking of meeting room through the application and website.

 

		3.2.4	Personalized messaging

 

		(i)	Able to send messages to individual users through the backend management platform.

 

		3.2.5	Online Form Submission

 

		(i)	Able to submit predefined documents through the mobile application and able to
monitor the processing status through the mobile application (e.g. Aircon extension request).

 

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		3.2.6	Turnstile Access

 

		(i)	Allow tenants to access building using mobile app, with dynamically generated QR code.

 

		3.2.7	Order Pay Collect

 

		(i)	Allow tenants to order and make payment for food and beverage from our Republic Plaza stores.

 

		3.2.8	Ecall

 

		(i)	Allow tenants to call lift via mobile app

 

		3.2.9	Happenings

 

		(i)	Allow Retail tenants and landlord to communicate, organise events and giveaway sessions.

 

		3.2.10	Splash Ad

 

		(i)	Personalised marketing communication on promotion, events, etc.

 

		3.2.11	Parking

 

		(i)	Real time update on available parking lots

 

		(ii)	Renewal of season parking via GIRO

 

		(iii)	Purchase of VIP or Complimentary parking coupon

 

		3.2.12	MyVisitor

 

		(i)	Allow tenants to invite their guest via mobile app, and guest can use the QR code to directly go up
office (after verification with MYINFO).

 

		3.2.13	Indoor air quality

 

		(i)	Display of indoor air quality metric (e.g. humidity, temperature, etc.) that is transmitted from IOT
sensors

 

		3.2.14	Table Reservation

 

		(i)	Allow tenants to make table reservation on Republic Plaza’s restaurant(s).

 

		3.2.15	eMall

 

		(i)	Online food/retail item ordering and delivery service(s) for CDL malls, offices.

 

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In witness whereof this Addendum has been entered
into on the date stated at the beginning.

 

Licensor

 

SIGNED by ______________

 

for and on behalf of

 

Shanghai Distrii Technology Development
Co., Ltd.

 

in the presence of:

 

	 	 
	Witness’ signature	 
	 	 
	 Name:	 
	 	 
	Address:	 

 

Addendum No. 1 to Licence Agreement

 

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	Licensee	 
	 	 
	SIGNED by __________________	 
	 	 
	for and on behalf of	 
	 	 
	Distrii Technology Singapore Pte. Ltd.	 
	 	 
	in the presence of:	 
	 	 
	 	 
	Witness’ signature	 
	 	 
	 Name:	 
	 	 
	Address:	 

 

Addendum No. 1 to Licence Agreement

 

 

13Exhibit
                          10.6

 

SHARE
REPURCHASE AGREEMENT

 

This
Share Repurchase Agreement (this “Agreement”) is entered into as of August 16, 2021 (the “Effective Date”)
by and between the following parties:

 

	(1)	KING
                                            INSPIRATION LIMITED, a private limited company duly incorporated and validly existing
                                            under the laws of British Virgin Islands (the “Selling Shareholder”);
                                            and

 

	(2)	AGIIPLUS
                                            INC., an exempted company incorporated with limited liability under the laws of the Cayman
                                            Islands with company number 371912 and having its registered office at 89 Nexus Way, Camana
                                            Bay, Grand Cayman, KY1-9009, Cayman Islands (the “Company”).

 

The
Selling Shareholder and the Company shall be hereinafter referred to as a “Party” respectively, and as the “Parties”
collectively.

 

RECITALS

 

WHEREAS,
for the purpose of overseas listing, Shanghai Distrii Technology Development Co., Ltd. (“Shanghai Distrii”), its existing
shareholders and certain other parties entered into a Restructuring Framework Agreement on August 16, 2021 (the “Restructuring
Framework Agreement”), pursuant to which equity interests in Shanghai Distrii held by its existing shareholders will effectively
be “rolled over” into shares in the Company and each existing shareholder will, itself or through its nominee, indirectly
hold equity interests in Shanghai Distrii (the “Cross-border Restructuring”).

 

WHEREAS,
under the Restructuring Framework Agreement, the Selling Shareholder agreed to subscribe for 433,705 series A+ convertible redeemable
participating preferred shares in the Company of par value US$0.0001 each (the “Repurchased Shares”) for a consideration
of RMB7,000,000.

 

WHEREAS,
subject to completion of the Cross-border Restructuring (including the subscription of the Repurchased Shares), the Company plans to
enter into a business combination agreement (the “Business Combination Agreement”) with a Special Purpose Acquisition
Company already listed in a stock exchange in the United States (“SPAC”) and certain other parties and, to achieve
listing on the relevant stock exchange through merger with the SPAC.

 

WHEREAS,
the Company wishes to repurchase the Repurchased Shares from the Selling Shareholder and the Selling Shareholder wishes to sell the Repurchased
Shares to the Company subject to the terms and conditions under this Agreement.

 

     

     

    

 

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

 

	1	Repurchase
                                            of Shares 

 

	1.1	Agreement
                                            to Repurchase. If (a) the Cross-border Restructuring is terminated in accordance with
                                            the terms of the Restructuring Framework Agreement; (b) the Company has not entered into
                                            any Business Combination Agreement on or before 30 June 2022; or (c) the Company has entered
                                            into a Business Combination Agreement but closing under the Business Combination Agreement
                                            has not occurred on or before 30 June 2022 or such later date mutually agreed by the Selling
                                            Shareholder and the Company in writing (each a “Trigger Event”), the Selling
                                            Shareholder shall have the right to require the Company to repurchase the Repurchased Shares,
                                            exercisable by way of the Selling Shareholder delivering a written notice (specifying a closing
                                            date of such repurchase (“Closing Date”) which shall be no earlier than
                                            10 Business Days after the date of such notice) to the Company on or after the occurrence
                                            of a Trigger Event. Upon delivery of the written notice, the Selling Shareholder shall sell,
                                            assign, transfer, convey and deliver to the Company, and the Company shall repurchase from
                                            the Selling Shareholder, all of the legal and beneficial right, title and interest in and
                                            to the Repurchased Shares on the Closing Date in accordance with the terms and conditions
                                            set forth herein (the “Repurchase”). The Parties shall take all actions
                                            necessary to consummate the Repurchase of the Repurchased Shares, free of all liens, claim,
                                            restriction upon transfer, mortgage, pledge, security interest, option, right of first refusal,
                                            co-sale right, community property interest, charges and any agreement to provide any of the
                                            foregoing or other encumbrances of any kind, save as provided under the shareholders agreement
                                            and the amended and restated memorandum and articles of association of the Company.

 

	1.2	Repurchase
                                            Price. The Company agrees to repurchase the Repurchased Shares at the aggregate purchase
                                            price of RMB 7,000,000 (the “Repurchase Price”). The Repurchase Price
                                            shall be paid on the Closing Date.

 

	1.3	Payment
                                            of the Repurchase Price. The Parties agree that the Company shall pay the Repurchase
                                            Price by issuing a convertible promissory note (the “Convertible Promissory Note”)
                                            in the form and content as set out in Schedule 1. Upon the issuance of the Convertible Promissory
                                            Note, the Repurchase Price shall be deemed to have been fully paid.

 

	1.4	Share
                                            Mortgage. The Company shall ensure that the following documents are delivered to the Selling
                                            Shareholder on the date of this Agreement in form and substance satisfactory to the Selling
                                            Shareholder:

 

		(1)	an
                                            Equitable Share Mortgage substantially in the form as set out in Schedule 2 (the “Share
                                            Mortgage”) duly executed by J.distrii Global Limited, under which certain shares
                                            held by J.distrii Global Limited in the Company would be mortgaged and charged to the Selling
                                            Shareholder as security for the due and prompt discharge and payment of the Secured Obligations
                                            (as defined in the Share Mortgage) which include payment obligations owed to the Selling
                                            Shareholders under this Agreement and the Convertible Promissory Note; and

 

		(2)	all
                                            documents, letters, instruments, proxies, resolutions and deeds required to be delivered
                                            to the Selling Shareholder pursuant to the Share Mortgage; and

 

		(3)	a
                                            certified copy of the Amended and Restated Memorandum and Articles of Association of the
                                            Company, substantially in the form as set out in Schedule 3, and a certified copy of the
                                            shareholders’ resolutions of the Company adopting the same.

 

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	2	Closing

 

	2.1	Closing
                                            Date. Subject to Section 1.4 having been complied with, the closing of the Repurchase
                                            in accordance with Section 1.1 (the “Closing”) shall take place
                                            on the Closing Date remotely via the exchange of documents and signatures immediately after
                                            satisfaction or waiver of all of the conditions precedent set forth in Section 2.2, Section
                                            2.3 and Section 2.4.

 

	2.2	Closing
                                            Deliveries. At the Closing,

 

	 	(1)	the
                                            Company shall deliver to the Selling Shareholder a copy of updated register of members of
                                            the Company, certified by the registered office provider of the Company, reflecting the repurchase
                                            of Repurchased Shares by the Company; and

 

	 	(2)	the
                                            Company and the Selling Shareholder shall deliver to each other their respective executed
                                            counterparts of the Convertible Promissory Note; and

 

	 	(3)	the
                                            Company shall deliver to the Selling Shareholder a certified copy of its constitutional documents
                                            and statutory registers (including its register of members, register of directors and register
                                            of mortgages and charges) and a certificate of good standing issued by the Registrar of Companies
                                            in the Cayman Islands in respect of the Company, dated not earlier than one month prior to
                                            the date of Closing.

 

	2.3	Obligations
                                            of the Selling Shareholder at the Closing. At the Closing, the Selling Shareholder shall
                                            take all actions to effect the Repurchase (unless they are waived by the Company in writing),
                                            including without limitation the following:

 

	 	(1)	the
                                            Selling Shareholder shall transfer the Repurchased Shares to the Company on the Closing Date
                                            in accordance with the terms and conditions of this Agreement.

 

	 	(2)	At
                                            or prior to the Closing, the Selling Shareholder shall deliver to the Company the original
                                            certificate corresponding to the Repurchased Shares for cancellation.

 

	2.4	Obligations
                                            of the Company at the Closing. At the Closing, the Company shall take all actions to
                                            effect the Repurchase hereof (unless they are waived by the Selling Shareholder in writing).
                                            In particular, at the Closing, the Company shall deliver certified copies of the duly passed
                                            board resolutions and shareholders’ resolutions of the Company, approving the Repurchase
                                            and the execution and delivery of this Agreement and the Convertible Promissory Note.

 

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	3	Representations
                                            and Warranties

 

	3.1	Representations
                                            and Warranties of the Selling Shareholder. The Selling Shareholder hereby represents
                                            and warrants to the Company on and as of the Effective Date and the Closing Date as follows
                                            (and any other representations and warranties is expressly excluded):

 

		(1)	The
                                            Selling Shareholder is the sole legal and beneficial owner of the Repurchased Shares, free
                                            and clear of any encumbrances (other than those set out in the shareholders’ agreement
                                            and amended and restated memorandum and articles of association of the Company), including,
                                            without limitation, any pledges, mortgages, liens, charges, claims and any restrictions on
                                            transfer or other encumbrances.

 

		(2)	This
                                            Agreement has been duly executed and delivered by the Selling Shareholder and constitutes
                                            a valid and legally binding obligation of the Selling Shareholder, enforceable against the
                                            Selling Shareholder in accordance with its terms.

 

		(3)	The
                                            Selling Shareholder has the right to dispose of and sell the Repurchased Share in accordance
                                            with the provisions set forth in this Agreement.

 

		(4)	The
                                            Selling Shareholder has all the necessary authorization and capacity to enter into and to
                                            perform its obligations under this Agreement. The execution and delivery by the Selling Shareholder
                                            of this Agreement, and the performance by the Selling Shareholder of its obligations hereunder
                                            will not result in (i) a breach of any contracts or documents to which the Selling Shareholder
                                            is a party or is otherwise bound, or (ii) a violation of any statutes, laws, regulations
                                            or orders to which the Selling Shareholder is subject.

 

		(5)	No
                                            permit, authorization, order, consent or approval of or by, or any registration or filing
                                            with or notice to, any person (governmental or private) is required in connection with the
                                            execution, delivery and performance by the Selling Shareholder of this Agreement or the consummation
                                            by the Selling Shareholder of the transactions contemplated hereby, except as has been obtained
                                            by the Selling Shareholder as of the date hereof.

 

		(6)	The
                                            Selling Shareholder is willing to, and hereby does, forgoes through the sale of the Repurchased
                                            Shares the potential for future economic gain that might be realized from owning the Repurchased
                                            Shares. The Selling Shareholder acknowledges and agrees that the Repurchase Price may not
                                            adequately reflect all available information. The Selling Shareholder understands that the
                                            Company’s plans for the future, if successful, may result in the Company’s capital
                                            shares becoming significantly more valuable and that the future value of the Repurchased
                                            Shares could far exceed the Repurchase Price. The Selling Shareholder acknowledges and understands
                                            that the Company may pursue various mergers, acquisitions and liquidity events, including,
                                            without limitation, an initial public offering of the Company’s securities on a stock
                                            exchange. Nevertheless, the Selling Shareholder is selling the Repurchased Shares of the
                                            Selling Shareholder’s own free will with the full understanding of such potential mergers,
                                            acquisitions and liquidity events.

 

    4

     

    

 

	3.2	Representations
                                            and Warranties of the Company The Company hereby represents and warrants to the Selling
                                            Shareholder on and as of the Effective Date and the Closing Date that the Company is duly
                                            incorporated and validly existing with limited liability and in good standing under the laws
                                            of the Cayman Islands, has all the necessary authorization and capacity, to enter into and
                                            to perform its obligations under this Agreement, and this Agreement constitutes a legal,
                                            valid and binding obligation of the Company, enforceable against it in accordance with its
                                            terms. The execution and delivery by the Company of this Agreement, and the performance by
                                            the Company of its obligations hereunder will not result in (i) a breach of its constitutional
                                            documents or of any contracts or documents to which the Company is a party or is otherwise
                                            bound, or (ii) a violation of any statutes, laws, regulations or orders to which the Company
                                            is subject. No permit, authorization, order, consent or approval of or by, or any registration
                                            or filing with or notice to, any person (governmental or private) is required in connection
                                            with the execution, delivery and performance by the Company of this Agreement or the consummation
                                            by the Company of the transactions contemplated hereby, except as has been obtained by the
                                            Company as of the date hereof. The Company hereby further represents and warrants that without
                                            the prior written consent of the Selling Shareholder, it will not amend its constitutional
                                            documents which will remain in full force and effect without modification.

 

	4	Liquidated
                                            damages

 

	4.1	Subject
                                            to Section 5.2 of this Agreement, in the event that the Closing does not occur at
                                            the Closing Date, the Company shall pay to the Seller Shareholder liquidated damages calculated
                                            as below as compensation for losses or damages suffered by the Selling Shareholder.

 

The
liquidated damages shall be the sum of (i) RMB7,000,000 and (ii) the interests of RMB7,000,000 accruing at simple rate of eight per cent
(8%) from and including the 11th Business Day after the date of the written notice delivered by the Selling Shareholder under Section
1.1 to the date on which the liquidated damages are paid.

 

	4.2	The
                                            Parties agree that:

 

		(i)	The
                                            Selling Shareholder has legitimate commercial interests in requiring that the Closing occurs
                                            at the Closing Date; and

 

		(ii)	the
                                            liquidated damages are proportionate to such legitimate interests, are in all respects fair
                                            and reasonable and represent a genuine pre-estimate of the losses, damages and expenses likely
                                            to be suffered or incurred by the Selling Shareholder arising out of the failure of Closing
                                            at the Closing Date.

 

	5	Miscellaneous

 

	5.1	Entire
                                            Agreement and Amendment. This Agreement (including the schedules hereto) and the Share
                                            Mortgage represent the entire understanding of the Parties with respect to the subject matter
                                            hereof and supersedes all previous understandings, written or oral. This Agreement may only
                                            be amended with the written consents of the Selling Shareholder, the Company or the due successors
                                            or assigns of the foregoing.

 

    5

     

    

 

	5.2	Force
                                            Majeure. “Force Majeure” event shall mean any act or event which is reasonably
                                            unforeseeable, unavoidable and beyond control of the affected party, including without limitation
                                            earthquake, typhoon, flood and other natural disasters, fire, war, riots, terrorism or any
                                            other unforeseeable or unavoidable act or event which is recognized by the international
                                            business practice as Force Majeure, provided that the event which is caused by market change
                                            or the operations of a Party shall not be deemed as force majeure.

 

If
a Party is prevented by Force Majeure event from performing any of its obligations or liabilities under this Agreement, such Party shall
notify the other Party in writing within thirty (30) days after the occurrence of such Force Majeure event, and provide the other Party
with detailed information of the Force Majeure event and the document proving such event, including the documentary evidence issued by
the government authority or judicial authority or any other competent authority, in order to explain the reason for its non-performance,
and to the extent possible, take measures to mitigate losses.

 

If
Force Majeure event arises, no Party shall be under any liability for any damage, increased costs or losses which may be suffered by
the other Party due to its failure or delay in performing any of its obligations under this Agreement as a result of the Force Majeure
event, and such failure or delay shall not be deemed as a breach of this Agreement. The Party claiming Force Majeure shall take proper
measures to mitigate or eliminate the effects of the Force Majeure, and manage to resume performance of the obligations affected by the
Force Majeure in the shortest possible time.

 

	5.3	Confidentiality.
                                            Except as may be required by law, neither of the Parties shall disclose to any third party
                                            the terms and conditions of this Agreement or the transactions contemplated hereby without
                                            prior approval by the other Party; provided, however, that any Party may disclose the terms
                                            and conditions of this Agreement or the transactions contemplated hereby on non-reliance
                                            basis to the Party’s lenders, investors, partners and professional advisors, in each
                                            case only after such persons or entities have undertaken appropriate nondisclosure obligations.
                                            In the event of disclosure required by law or court ruling, the disclosing Party shall use
                                            all reasonable efforts and provide all reasonable cooperation to obtain confidential treatment
                                            of the materials or a protective order.

 

	5.4	Remedies.
                                            All remedies, either under this Agreement or by law or otherwise afforded to the Parties
                                            hereto, shall be cumulative and not alternative.

 

    6

     

    

 

	5.5	Further
                                            Assurance. Upon the terms and subject to the conditions herein, each of the Parties hereto
                                            agrees to use its best efforts to take or cause to be taken all action, to do or cause to
                                            be done, to execute such further instruments, and to assist and cooperate with the other
                                            parties in doing, all things necessary, proper or advisable under applicable laws or otherwise
                                            to consummate and make effective, in the most expeditious manner practicable, the transactions
                                            contemplated by this Agreement and, to the extent reasonably requested by another party,
                                            to enforce rights and obligations pursuant hereto.

 

	5.6	Governing
                                            Law. This Agreement shall be governed by and construed in accordance with the laws of
                                            the Hong Kong, without regards to conflicts of law principles.

 

	5.7	Dispute
                                            Resolution.

 

		(a)	Any
dispute, controversy or claim arising in any way out of or in connection with this Agreement, including, without limitation:

 

		(i)	any
contractual, pre-contractual or non-contractual rights, obligations or liabilities; and

 

		(ii)	any
issue as to the existence, validity, interpretation, performance, breach or termination of this Agreement (together, with paragraph (a)(i)
above, a “Dispute”),

 

shall
be referred to and finally resolved by binding arbitration at the Hong Kong International Arbitration Centre (“HKIAC”)
in accordance with the HKIAC Administered Arbitration Rules in force at the time (the “HKIAC Rules”) when the Notice
of Arbitration (as defined in the HKIAC Rules) is submitted, which HKIAC Rules (save as amended herein) are deemed to be incorporated
by reference into this Section.

 

Parties
agree that the arbitration shall be conducted in accordance with the expedited procedure provided under the HKIAC Rules.

 

		(b)	The
seat of arbitration shall be in Hong Kong.

 

		(c)	The
arbitration tribunal shall consist of three arbitrators.

 

		(d)	The
arbitration proceedings shall be conducted in the English language.

 

		(e)	Any
award of the arbitration tribunal shall be made in writing and shall be final and binding on the parties from the day it is made. The
parties undertake to comply without delay any order or award.

 

		(f)	The
parties waive any right to apply to any court of law and/or other judicial authority to determine any preliminary point of law and/or
review any question of law and/or the merits, insofar as such waiver may validly be made. The parties shall not be deemed, however, to
have waived any other right to challenge any award. Nothing in this paragraph shall be construed as preventing any party from seeking
conservatory or interim relief from any court of competent jurisdiction.

 

	5.8	Counterparts.
                                            This Agreement may be executed in counterparts, each of which shall be deemed as an original,
                                            but all of which together shall constitute one and the same instrument.

 

    7

     

    

 

	5.9	Notices.
                                            Any notice required or permitted pursuant to this Agreement shall be given in writing and
                                            shall be given either personally or by sending it by next-day or second-day courier service,
                                            fax, electronic mail or similar means to the address of the relevant Party as shown below
                                            (or at such other address as such Party may designate by fifteen (15) days’ advance
                                            written notice to the other Party to this Agreement given in accordance with this Section
                                            5.9).

 

To
                                            the Company:

 

Address:
上海黄浦区西藏南路218号永银大厦5层

Attn:
Hu Jing(胡京)

Email:
hujing@distrii.com

 

To
the Selling Shareholder:

 

Address:
上海市长宁区淞虹路207号明基商务广场B座8楼

Attn:
‎ Sun Yanyan (孙彦彦)‎

Email:
sunyanyan@jingruis.com

 

Where
a notice is sent by next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing,
pre-paying and sending by next-day or second-day service through an internationally-recognized courier a letter containing the notice,
with a written confirmation of delivery, and to have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii)
expiration of two (2) Business Days (as defined in the Amended and Restated Memorandum and Articles of Association of the Company) after
the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic mail, service of the notice shall be
deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation
of delivery, and to have been effected on the day the same is sent as aforesaid, if such day is a Business Day and if sent during normal
business hours of the recipient, otherwise the next Business Day. Notwithstanding the foregoing, to the extent a “with a copy to”
address is designated, notice must also be given to such address in the manner above for such notice, request, consent or other communication
hereunder to be effective.

 

	5.10	No
                                            Waiver. Failure to insist upon strict compliance with any of the terms, covenants, or conditions
                                            hereof will not be deemed a waiver of such term, covenant, or condition, nor will any waiver
                                            or relinquishment of, or failure to insist upon strict compliance with, any right, power
                                            or remedy hereunder at any one or more times be deemed a waiver or relinquishment of such
                                            right, power or remedy at any other time or times.

 

[THE
                                            REMAINDER OF THIS PAGE IS LEFT BLANK INTENTIONALLY]

 

    8

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year herein above first written.

 

	SELLING SHAREHOLDER:	KING INSPIRATION
    LIMITED
	 	 
	 	By:	 
	 	 	Name: 	 
		 	Title:	Authorized Signatory

 

Signature
Page to Share Repurchase Agreement

 

     

     

    

 

IN
WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year herein above first written.

 

	COMPANY:	AGIIPLUS
    INC.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

Signature
Page to Share Repurchase Agreement

 

     

     

    

 

Schedule
1 Form of Convertible Promissory Note

 

     

     

    

 

Schedule
2 Form of Share Mortgage

 

     

     

    

 

Schedule
3 

Form
of Amended and Restated 

Memorandum
and Articles of Association

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