Document:

Exhibit 10.3

 

 

 

    	 	 	 

     

    

 

 

 

    	 	 	 

     

    

 

 

 

 

    	 	 	 

     

    

 

 

TERMS AND CONDITIONS & RULES AND REGULATIONS

 

IT IS AGREED as follows
between the Parties:

 

1.   
DEFINITIONS AND INTERPRETATION

 

1.1       In this Agreement, unless there is something in the
subject or context inconsistent therewith:

 

"Ancillary
Fee" has the meaning ascribed to it in Clause 4.1.2;

 

"Ancillary
Services" means such services set out in the Form, together with the charges for each of such services;

 

"Business Day"
means a day (other than a Saturday, a Sunday or a public holiday in Singapore) on which banks are open for normal banking business
in Singapore;

 

"Company"
means Neo & Partners Global Private Limited;

 

"Confidential
Information" has the meaning ascribed to it in Clause
9;

 

"Core
Services" means the services set out in the Form;

 

"Disclosing
Party" has the meaning ascribed to it in Clause 9;

 

"Fees"
means collectively the Monthly Fee and the Ancillary Fee;

 

"Monthly
Fee" has the meaning ascribed to it in Clause 4.1.1

 

"Office"
means the space at 1 Raffles Place, #33-02, One Raffles Place Tower 1, Singapore 048616 designated to the Client under this Agreement,
including the furniture, fixtures and fittings and services listed under "Core Services",'Boardroom","Server
Room/LAN" and "Common Areas" as described in the Form;

 

"Parties"
means collectively the Company and the Client and

 

"Party"
shall refer to either of them;

 

"Premises"
means the office space at 1 Raffles Place, #33-02, One Raffles Place Tower 1, Singapore 048616;

 

"Recipient"
has the meaning ascribed to it in Clause 9;

 

"Representatives"
has the meaning ascribed to it in Clause 9.2.2;

 

"8$"
means the lawful currency of Singapore; and

 

"Term"
means such period commencing on the date of this Agreement and ending on such date in accordance with the First Schedule whereby
this Agreement is terminated in accordance with  Clause 8 respectively.

 

1.2 The headings in
this Agreement are for ease of reference only and shall
not be taken into account in the construction or interpretation  of any provision to which they refer.

 

1.3
In this Agreement, except where the context otherwise requires:

 

 

 

    	 	1	 

     

    

 

	1.3.1		words importing
the singular shall include the plural and vice versa, words importing the masculine gender shall include the feminine and neuter
genders and vice versa, and 'person" shall include any natural person, firm, partnership, joint venture, company, organisation,
association, trust, government or governmental sub-division or agency, or any other entity, whether acting in an individual, fiduciary
or other capacity;

	1.3.2		the expression
"this Agreement" or any similar expression  shall mean the Form, this Terms and Conditions, Rules and Regulations
and the Schedules and any amendment modification or supplemental written agreement thereto as may be in force from time to time
or any time in accordance with the terms and conditions set out herein;

	1.3.3		references
to Clauses and Schedules are, unless otherwise   stated, to clauses of and schedules to this Agreement; 1.3.4 the Schedules
form part of this Terms and Conditions and have the same force and effect as if expressly set out in the   body of this Agreement;

	1.3.5		if any period
of time is specified from a given day or the day of a given act or event, it is to be calculated exclusive of that day and if
any time limit falls on a day which is not a Business Day then that time limit is deemed to only expire on the next Business Day;

	1.3.6		any reference
to a statutory provision shall include such provision and any regulations made in pursuance thereof as from time to time amended,
extended or re-enacted whether before or after the date of this Agreement so far as such modification, extension or re-enactment
applies or is capable of applying to any transactions contemplated under this Agreement and (so far as liability thereunder may
exist or can arise) shall include also any past statutory provisions or regulations (as from time to time amended or re-enacted)
which such provisions or regulations have directly or indirectly replace;

	1.3.7		words denoting
an obligation on a Party to any act, matter or thing, include an obligation to procure that it be done, and words placing a Party
under a restriction, include an obligation not to permit infringement, default or breach of the restriction; and

	1.3.8		the contra
proferentum rule shall not apply in the construction or interpretation of this Agreement and the language in all parts of this
Agreement shall be construed and interpreted as a whole and neither strictly for nor against any of the Parties to this Agreement.

 

1.4
References in this Agreement to the Parties shall include their respective heirs, successors in title, permitted assigns and personal
 representatives.

 

2.    BUSINESS OF THE COMPANY

 

2.1
The Company carries on the business of providing dedicated trade desk office workspace with additional customisable trading platforms
and other related ancillary services.

 

2.2
The Company has agreed to provide and the Client has agreed to pay for the Office and such Ancillary Services (as and when requested
for by the Client) on the terms and subject to the conditions set out in this Agreement.

 

3. 
  USE OF OFFICE AND PROVISION OF SERVICES

 

3.1
For the Term of this Agreement the Company agrees to grant the Client use of the Office from 1st June 2018 (or such other
date as agreed between the Parties) and to provide such other Ancillary Services to the Client, as and when requested by
the Client in accordance with the terms of this Agreement.

 

3.2 The Office
will be available for the Client's use 24 hours a day, seven (7) days a week.

 

3.3 The
Parties acknowledge that this Agreement is an agreement for the provision of a temporary use of an office trade desk space with
a complete suite of trading facilities and services. This Agreement does not constitute any tenancy, tenancy interest, leasehold
estate or other real property interest and it shall not entitle the Client to exclusive possession of the Office.

 

3.4
The Company shall maintain the Office in dean condition and good state of repair and shall perform the Ancillary Services with
reasonable care and skill.

 

 

 

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4.    FEES

 

4.1       Unless otherwise specified in the Form in consideration of the Company granting
the Client use of the Office and providing such Ancillary Services in accordance with this Agreement, for and during the Term of
this Agreement, the Client shall pay the Company:

 

	4.1.1		A monthly fee of S$ 24 000, before GST for the use of the Office (the "Monthly
Feel and

	4.1.2		a fee for such Ancillary Services (the "Ancillary Fee") as requested
by the Client and agreed to be provided by the Company to the Client.

 

4.2       For
the avoidance of doubt, should the Client commences use of the Office on a day other than the first day of the month, the Client
shall only be liable to pay such pro-rata amount of the Monthly Fees for any period less than one (1) month.

 

4.3       The
Monthly Fees shall be paid to the Company on the first Business Day of each and every succeeding calendar month by way of electronic
bank transfer to the Company's designated bank account, details of which are set out below:

 

Account
Holder's Name: Neo & Partners Global Private Limited

Account
Number: 686-338617-001

Bank Name: OCBC Bank Bank Address: 65
Chulia Street, OCBC Centre, Singapore 049513

SWIFT/BIC
Code: OCBCSGSG

Bank
Code: 7339

Branch
Code: 686

 

4.4       Where
the Client subscribes to any of the Ancillary Services, payment of the Ancillary Fee shall only be made by the Client on receipt
from the Company of an invoice for this purpose. Invoices should be marked for the attention of the Contact Person stated in the
Form. Payment to the Company shall be due no later than seven (7) Business Days from the Client's receipt of the invoice.

 

4.5       If the Client does not pay the Fees within 7 Business Days after the due date (whether or not formally demanded), the Client
shall be liable to pay interest of 10% on that sum from the date the sum is due until the date the sum is paid. The Company
also reserves the right to withhold the providing of Ancillary Services to the Client or denying the Client access to the
Office while there are Fees outstanding for more than 7 Business Days and/or interest or where the Client is in breach of its
obligations hereunder this Agreement.

 

4.6       Nothing
in Clause 4.6 entitles the Client to withhold or delay any payment or affects or derogates from the rights of the Company in relation
to non-payment.

 

4.7       Any
sums due or owing under this Agreement by the Client to the Company are to be paid by the Client in full, net of any bank charges,
taxes, administrative charges or foreign exchange expenses (if any).

 

4.8       Invoices
are deemed accepted if not disputed with detailed evidence of the dispute within 7 days of the date of the invoice. If disputed
the Client must still pay the undisputed portion of the invoice by the due date.

 

5.0
SECURITY DEPOSIT

 

5.1       The
Client shall on acceptance of this Agreement, pay to the Company a security deposit of S$ 72,000 (the "Security
Deposit") within three (3) Business Days from the date of this Agreement.

 

5.2       In
the event the Client wishes to terminate this Agreement before expiry of the date of this Agreement, the Security Deposit will
be forfeited by the Client.

 

 

 

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5.3       The
Client shall pay to and maintain with the Company the Security Deposit, up to and including the date of the termination of the
Term:

 

	5.3.1		as security
for compliance by the Client of all the provisions in this Agreement;

	5.3.2		to secure
and indemnify the Company against

	(i)		any loss
or damage resulting from any default by the Client of its obligations under this Agreement and

	(ii)		any successful
claim by the Company at any time against the Client in relation to any matter arising out of or in connection with this Agreement.

 

5.4       If
any default by the Client of its obligations hereunder occurs, the Company is entitled to apply the whole or part of the Security
Deposit in or towards:

 

	5.4.1		making good
any loss or damage sustained by the Company as a result of that default in any manner as may be reasonably required by the Company,
and

	5.4.2		repayment
of any expense reasonably incurred by the Company in making good the loss and damage, in any manner as may be reasonably prescribed
by the Company.

 

5.5       For
the avoidance of doubt, the giving of the Security Deposit or any deduction from the Security Deposit by the Company shall not
relieve the Client from any of its obligations under this Agreement or act as a waiver or otherwise limit the Company's right
to recover amounts not covered by the Security Deposit against the Client for any breach of its obligations under this Agreement.

 

5.6       The
Client shall not set-off any part of the Security Deposit against any Fees owed by the Client to the Company or any sums payable
by the Client under this Agreement against the Security Deposit.

 

5.7       If
from time to time during the Term, the Security Deposit increases in amount by agreement between the Parties, the Client shall
pay such increase in the Security Deposit within seven (7) Business Days of the receipt of written notice from the Company notifying
the Client of the amount of such increase payable.

 

5.8       Upon
the termination of this Agreement, the Company shall repay the Security
Deposit to the Client (without interest and after proper deductions by the Company) within 30 Business Days of the termination
date of the Agreement, if the Client has then paid all sums owing and performed all other obligations under this Agreement to
the satisfaction of the Company.

 

5.9       The rights of the Company under this Clause 5 are in addition to and will not
affect the other rights of the Company under this Agreement.

 

5.10      If the Fees are increased in accordance with provisions of this
Agreement then the Security Deposit shall be increased proportionately and the Client shall pay such
increase in the Deposit within fourteen (14) days of the receipt of written notice from the company notifying the Client of
the amount of such increase payable. The amount of such increase payable by the Client as specified in the Company's said
notice shall be accepted by the Client as correct final and conclusive save for manifest error.

 

6.
RULES OF USE

 

6.1       The Office shall be used by the Client for corporate business purposes only and such other use as is normally incident thereto
 and for no other purpose.

 

6.2       The Client agrees with the Company that it will observe all the Rules and Regulations relating to the occupation and use of the
Office and the Ancillary Services.

 

6.3       The Company reserves the right to amend, delete and insert new rules and regulations from time to time, at its
reasonable discretion upon written notice to Client.

 

 

 

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7.
HEAD LEASE

 

7.1       The Client acknowledges that this Agreement is subject and subordinate to the terms of the Company's head lease and any other
documents or provisions binding on the Company or the Company's use of the Premises.

 

7.2       The Parties agree that this Agreement is dependent and conditional upon the head lease. The Company will use its best endeavours
to ensure that the head lease remains in effect and it performs its obligations under such lease and represents and warrants that
it is permitted to provide the services set out in this Agreement. If the head lease is terminated for any reason whatsoever,
the Company may terminate this Agreement giving Client as much notice as is possible in accordance with the head lease, without
compensation to the Client and the rights under this Agreement shall immediately terminate without prejudice to any antecedent
rights which has arisen prior to such termination. Company shall refund the unused portions of any Monthly Fees to the Client
within 14 days of such 7.3 termination. The Client shall comply with all acts, legislation, regulations as required by the head
lease and comply with any regulations or procedures issues or required by the Company under the head lease.

 

8.
TERMINATION

 

8.1       Either Party may terminate this Agreement by giving to the other Party three (3) months' notice in writing.

 

8.2       Without prejudice to Clause 8.1, the Company shall have the right to terminate this Agreement immediately by notice in writing
to the Client upon the happening of any of the following events: 8.2.1 The Client fails to pay the amounts set out in Clauses
4.1 after a period of (7) Business Days after the due date for such payments.

 

	8.2.2		There is
a material breach by the Client of any of the covenants, obligations or stipulations to be performed or observed by under this
Agreement after having received written warning from the Company and not having remedied the breach within 14 days of such warning.

	8.2.3		The Client
is unable to pay his debts as and when they fall due or if the Client has no reasonable prospects of being able to pay his debts.

	8.2.4		The Client
has petitioned for a bankruptcy petition or has a bankruptcy order made against the Client.

	8.2.5		The Client
is guilty of conduct tending to bring himself or the Company into disrepute.

	8.2.6		Any material,
non-vexatious claim, action or proceeding is commenced against the Client.

 

8.3       Upon terminating this Agreement in accordance with the provisions herein:

 

	8.3.1		all amounts
payable by the Client, or refunds to the Client of unused portions of the Monthly Fees will become immediately due and payable,
including but without limitation, the Fees or such other fees payable in relation to this Agreement and 8.3.2 the Parties shall
be released and discharged from their respective obligations to each other under this Agreement save for any rights and liabilities
accrued on or prior to such termination, provided that any liability of any Party in respect of its covenants or undertakings
hereunder prior to such termination shall be in addition to any other remedies to which the non-defaulting Party may be entitled
at law or in equity.

 
 

9.
CONFIDENTIALITY

 

9.1       Each Party hereby agrees that the existence, subject matter and contents of this Agreement as well as any and all other information
being delivered or disclosed (whether orally, in writing or in electronic form) by one Party ("Disclosing Party")
to the other Party ("Recipient") in connection with this Agreement or the Office or the Ancillary Services shall be deemed
to be confidential and proprietary ("Confidential Information"), unless specifically designated by the Disclosing Party
at the time of disclosure to be non-confidential or non-proprietary.

 

9.2       The Recipient shall treat and shall cause its Representatives (as hereinafter defined) to treat, such Confidential Information
as confidential and shall not

 

 

 

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	9.2.1		use such
Confidential Information for any purpose (whether commercial or non-commercial) other than for the purposes of the transactions
contemplated under this Agreement; or

	9.2.2		divulge
or disclose (directly or indirectly) such Confidential Information to any other person (other than to its officers, directors,
employees and advisors who reasonably require access to such Confidential Information on a need-to-know basis for the purposes
of the transactions contemplated under this Agreement (the "Representatives").

 

9.3       The
restrictions and obligations contained in this Clause shall not apply when:

 

	9.3.1		such Confidential Information is disclosed as required by law or by way of an action
or order of court or any requirement of legal process, regulation or governmental or quasi-governmental order, decree, regulation
or rule;

	9.3.2		such Confidential Information is in the public domain or subsequently falls within
the public domain through no breach of this Agreement by the Recipient or its Representatives;

	9.3.3		such Confidential Information can be demonstrated by the Recipient to already be in
its possession prior to a disclosure by the Disclosing Party;

	9.3.4		such Confidential Information is lawfully received by the Recipient without any obligation
of confidentiality from a third party who in turn also has an independent right to disclose such Confidential Information; or

	9.3.5		the Disclosing Party has agreed in writing that such Confidential Information may
be disclosed by the Recipient.

 

9.4       The Recipient shall promptly notify the Disclosing Party in writing (prior to disclosure if reasonably practicable and permitted to do so) if the Recipient discloses any Confidential Information pursuant to Clause 9.3.1. Such notification shall include without limitation a detailed account of the Confidential Information disclosed.

 

9.5       The provisions of this Clause 9 shall survive the termination of this Agreement and shall be in full force and effect for three years following the termination of this Agreement.

 

10.   
INDEMNITY

 

10.1       Each
Party shall indemnify the other against all claims, demands, actions, proceedings, judgements, damages, losses, costs and expenses
of any nature which such other Party may suffer or incur for death, injury, loss and damage caused, directly or indirectly by:

 

	10.1.1		any act or thing done or caused to be done by the Party in the Office or in connection
with the Ancillary Services or the Agreement; or

	10.1.2		any default by the Party in complying with the provisions of this Agreement.

 

10.2       The Client
shall indemnify the Company against all claims, demands, actions, proceedings, judgements, damages, losses, costs and expenses
of any nature which the Company may suffer or incur for death, injury, loss and damage caused, directly or indirectly by the wilful
or grossly negligent misconduct, use or occupation of the Office by the Client or by any of the Client's employees, agents or
permitted occupiers.

 

11.   
LIMITATION OF COMPANY'S LIABILITY

 

11.1       Notwithstanding
anything contained in this Agreement, the Company shall not be liable or responsible to the Client, its employees, agents or other
permitted occupiers and the Client shall not claim against the Company for any injury, loss or damage resulting from:

 

	11.1.1		the acts or omissions of the Company's employees or agents, persons using the Office
or the Ancillary Services provided by the Company, or other persons using any part of the Office;

	11.1.2		any failure or inability of or delay by the Company in fulfilling any of its obligations
under this Agreement; or

	11.1.3		any failure or inability of or delay by the Company to provide, or interruption in
or inadequate supply of utilities, air-conditioning or lighting to the Office;

 

except for such loss or damage
arising from the wilful or grossly negligent misconduct of the Company, its agents, or employees.

 

 

 

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11.2       For the
avoidance of doubt and without prejudice to the generality of the foregoing, no Party shall in any event be liable to the other
Party for any special or consequential loss, including but not limited to loss of profits, loss of goodwill or loss of business
opportunity or for punitive damages.

 

12.   
FORCE MAJUERE

 

No Party shall be liable to the
other for any partial or nonperformance of its obligations hereunder by reason of any cause beyond the Party's reasonable control,
including without limitation any breakdown, delay, malfunction or failure of transmission, communication or computer facilities,
act of terrorism, acts of God, acts and regulations of any governmental authorities of relevant jurisdiction or the failure by
the relevant broker or agent, dealer, market, clearing house or regulatory organisation, for any reason to perform its obligations.

 

13.   
NOTICES

 

13.1       Each notice or communication (each a
"Notice") required or permitted under this Agreement shall be:

 

	13.1.1		in writing;

	13.1.2		signed for the Party giving it by the Party's authorised officer, attorney or, solicitor,
and

	13.1.3		delivered personally to the Party to whom it is addressed, or left at or sent by courier
or prepaid registered post to the Party's address, or sent by email to the Party's email address, given in the Form.

 

13.2       A Notice
is taken as given by the sender and received by the intended recipient:

 

	13.2.1		if delivered personally or by courier, upon delivery and receipt of a written acknowledgement
thereof;

	13.2.2		if posted to an address within Singapore, [three (3)] Business Days after posting;

	13.2.3		if posted to an address outside Singapore, [seven (7)] Business Days after posting;
and

	13.2.4		if sent by email, at time of delivery to the recipient's computer, but if delivery
or receipt is on a day which is not a Business Day or is after 5.00 pm at the place of delivery or receipt, it is taken as given
at 9.00 am on the next Business Day.

 

13.3       A Party
may change its address or email address for Notices by giving written notice to the other Party.

 

14.   
GENERAL

 

14.1
Costs and Expense: Each Party shall bear and pay for its own respective legal, professional and other costs and expenses
incurred under or in connection with the negotiation, preparation and execution of this Agreement.

 

14.2
Variation: Subject to the terms of this Agreement, no alterations or modifications to the terms of this Agreement will
be binding upon either the Company or the Client unless made in writing and signed by both Parties.

 

14.3 Entire
Agreement: This Agreement constitutes the entire and final expression of agreement between the Parties pertaining to the
subject matter hereof and supersedes all prior and contemporaneous negotiations or understanding of the Parties whether
written, oral or otherwise, in connection therewith.

 

14.4
Severability: If any term or provision of this Agreement is to any extent held by a court or other tribunal to be invalid,
void or unenforceable, such term or provision shall, insofar as it is in conflict with law, be treated as deleted from this Agreement.
This does not affect the validity or enforceability of the remaining terms and provisions.

 

14.5
Counterparts: This Agreement may be executed in any number of counterparts, each of which when executed and delivered is
an original and all of which together evidence the same agreement.

 

 

 

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14.6
Cumulative Remedies No remedy conferred by any of the provisions of this Agreement is intended to be exclusive of any other
remedy which is otherwise available to be sought at law, in equity, by statute or otherwise, and each and every other remedy shall
be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law, in equity, by
statute or otherwise.

 

14.7
Assignment: A Party must not assign its rights under this Agreement unless it has the other Party's written consent. A
Party must not unreasonably withhold its consent.

 

14.8
Third party rights: Save to the extent expressly provided in this Agreement, the Singapore Contracts (Rights of Third Parties)
Act (Cap. 53B) shall not under any circumstances apply to this Agreement and any person who is not a party to this Agreement (whether
or not such person shall be named, referred to, or otherwise identified, or form part of a class of persons so named, referred
to or identified in this Agreement) shall have no right under the Singapore Contracts (Rights of Third Parties) Act (Cap. 53B)
to enforce this Agreement.

 

14.9
Waiver: A Party waives a right or remedy under this Agreement only if it does so in writing. A Party does not waive a right
or remedy simply because it 

 

	14.9.1		fails to exercise the right;

	14.9.2		delays exercising the right; or

	14.9.3		only exercises part of the right.

 

A waiver of one breach of a
term of this Agreement does not operate as a waiver of another breach of the same term or any other term.

 

14.10
Further action: Each Party must promptly sign, do or procure to be done all such further acts, deeds, things and documents
as may be necessary or reasonably requested by the other Party to give full effect to this Agreement, and (so far as it is able)
to provide such assistance as the other Party may reasonably request to give effect to the spirit and intent of this Agreement.

 

14.11
Survival of provisions: A provision of this Agreement that has not been met on, or can have effect after, completion of
the transactions contemplated by this Agreement, or termination of this Agreement, continues to apply after termination.

 

15.    LAW AND JURISDICTION

 

15.1
This Agreement shall be governed by and construed in accordance with the laws of Singapore.

 

15.2
The Parties agree to refer any disputes arising out of, or in connection with this Agreement (including any disputes or questions
regarding its existence, validity or termination) to arbitration in the Republic of Singapore in accordance with the arbitration
rules of the Singapore International Arbitration Centre ("SIAC") for the time being in force which rules are deemed
to be incorporated by reference into this provision. All arbitration proceedings shall be conducted wholly in English language.
The arbitration tribunal shall consist of 1 arbitrator to be appointed by the SIAC in accordance with the SIAC rules and the decision
of the tribunal shall be final and binding.

 

16.    OPTION TO RENEW

 

 16.1 The Company shall grant to the Client an option to renew this Agreement granted on the terms and conditions below:

 

	16.1.1		The option to
                                         renew will be for a further term for a period specified in the First Schedule
                                         ("the Renewed Term") commencing on the day after the expiry of the Term.
                                         To exercise the option to renew, the Client shall serve on the Company a written renewal
                                         notice ('Tenants Renewal Notice") not more than three (3) months prior to
                                         the expiry of the Term (time being of the essence).

	16.1.2		Upon the Client's exercise of the option to renew in compliance with Clause 16.1.1,
the Company shall grant to the Client the Renewed Term at a revised Rent to be determined by the Company based on the prevailing
market rent and on such terms and conditions as the Company may determine, which terms shall exclude any further option to renew
unless the Company otherwise decides. Provided that the grant of the Renewed Term shall be subject to:

 

 

 

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	16.1.2.1		there being no breach or non-observance of any of the covenants on the part of the
Client herein contained at any time during the Term or at the time of its expiry;

	16.1.2.2		the execution by the Client of a fresh Agreement for the Renewed Term not later than
one (1) month before the expiration of the Term, time being of the essence;

	16.1.2.3		compliance with all the provisions of this Clause 16; and

	16.1.2.4		any additional Deposit due under the Renewed Term upon the execution of the Agreement
for the Renewed Term.

	16.1.3		The option to renew shall lapse and be of no effect in the event of the Client's failure
to comply with all the provisions of this Clause 16. In this connection, the Company shall not be taken to have waived its rights
to compliance with this Clause or to have acquiesced to any extensions of the Term or any renewal of the Agreement granted hereunder
unless such waiver or acquiescence is in writing.

 

17.    HOLDER OVER

 

If the Client continues to
occupy the Premises and/or Office beyond the expiration or sooner determination of the Term or fails to deliver vacant possession
thereof to the Company after the expiration or sooner determination of the Term, without any express written agreement between
the Company and the Client to extend the Term, the Client shall pay to the Company for every day of such holding over double the
amount of (i) daily Fees or (ii) daily Fees charge based on the prevailing market rate during the period of any such holding over,
whichever is higher, and there shall be no renewal of this Agreement by operation of law or pursuant to the provisions of this
Agreement. During the period of any such holding over all other provisions of this Agreement shall be and remain in effect.

 

No
provisions herein shall be construed as the Company's consent for the Client to hold over after the expiration or sooner determination
of the Term. For purposes of this Clause, the Company shall not be taken to have waived any requirements under this Agreement
or to have acquiesced to any extensions of the Term or any renewal of this Agreement unless such waiver or acquiescence is in
writing.

 

18. 
REDEVELOPMENT

 

18.1
If the Company wishes to:

 

	18.1.1		redevelop, retrofit, refurbish, improve, renovate, upgrade or alter in any way whatsoever
and prescribe, control and change the use, construction, size, configuration of or access to or any other aspect of any part or
parts of the Premises and/or Office; or 181.2 alter, place or erect structures within or adjoining the Premises and/or Office,
in such manner as the Company shall think fit,

 

18.2 the Company may:

 

	18.2.1		do so at its absolute discretion and without the same constituting an actual or constructive
eviction of the Client from the Office and without inuring any liability whatsoever to the Client therefor as long as reasonable
means of access to and egress from the Premises and/or Office are afforded (even if such access may be temporarily restricted)
and essential services are maintained without prejudice however to the rights of the Company under any other provision of this
Agreement; or

	18.2.2		terminate the Agreement without compensation by giving to the Client at three (3)
months' prior written notice of such intention. Upon the expiry of such notice, the Agreement shall absolutely cease and determine
and the Client shall deliver possession of the reinstated Office condition to the Company in accordance with the provisions of
the Agreement without compensation from or any claim whatsoever against the Company but without prejudice to any right of action
of the Company in respect of any antecedent breach of this Agreement by the Client.

 

 

 

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RULES AND REGULATIONS

 

The Client covenants with the Company that during
the Term:

 

	1.	Client shall not use the Office for any illegal or immoral act or purpose other than the purpose set out in Clause 6.1;

	2.	Client shall not place anything in or cause obstruction of the common area;

	3.	Client shall not (without the prior written consent of the Company) make any alterations to the set-up of the Office or to existing
fixtures, fittings or furnishings, install and add any additional furniture, torture and fittings in the Office, exhibit and display
on or affix, inter alio, tortures and fittings to the interior or exterior of the Office or anywhere in the Premises or damage
the furniture and existing furnishings;

	4.	Client shall keep the Office dean and tidy and shall keep the Office, including all tortures and fittings in it in good and tenantable
repair and condition and immediately make good, to the reasonable satisfaction of the Company, any damage caused to the Office
(including the fixtures and fittings in the Office) or any other part of the Premises by the Client, its employees, agents or
any permitted occupier,

	5.	Client shall exercise care in the handling and safekeeping of the Company's access cards to ensure the security of the Office;

	6.	Client shall not permit or keep in the Office any substances of a dangerous, corrosive, combustible, explosive, radioactive or
offensive nature which might damage the Premises or the Office or any tortures or fittings in the Office; and

	7.	Client shall not damage or mistreat any equipment provided by the Company as part of the Office or Ancillary Services.

	8.	Client shall not make or permit to be made any alteration in the internal construction or arrangement or in the external or interior
appearance of the present scheme of decoration of the said premises without the written consent of the Company first had and obtained
and if requested by the Company at the time of giving its written consent, the tenant shall restore the said premises to their
original state and condition at the tenant's expense upon the expiration or termination of the Agreement.

	9.	Client shall not keep or permit to be kept on the said premises or any part thereof any material of a dangerous or explosive nature
or the keeping of which may contravene any local statute or regulation or bylaw or in respect of which an increased rate of insurance
is usually or may actually be required or the keeping of which may cause the fire policy in respect thereof to become null and
void.

	10.	Client shall not install additional electrical points, fixtures or fittings without the previous
    consent in writing of the Company.

	11.	Client shall not drill or hack any hole or drive anything whatsoever into the walls or to bore
    any hole in the ceiling without first having obtained the consent in writing of the Company; in which case(s) the consent is
    given by the Company, the Client shall reinstate the wall by covering it up with putty and paint this affected part to its
    original condition upon expiration of the Tenure. Painting of the walls is required when there are markings/drawings on the
    walls upon expiration of the Tenure.

	12.	No consumption of food in the working room.

 

 

 

    	 	10	 

     

    

 

 

THE FIRST SCHEDULE

 

Clause 3.1

 

	1. Term of Lease	:	The
term of twelve (12) months from the 1st day of June 2018 to the 31st day of May 2019, both dates inclusive.

 

Clause 4.1

 

	2 Commencement Date of Subsequent Payments	:	The 1st day of the month of Monthly Rent

 

 

Clause 16

 

	Option to Renew	 	Further term to be determined after discussion with Client

 

 

 

 

 

 

    	 	11Exhibit 10.4

 

MEMORANDUM OF UNDERSTANDING:

Occupancy of Level 4, 36 Kaki
Bukit Place

Singapore 416214

 

It is agreed that on 1st day of August
2017, Venvici Pte Ltd (Company No. 201307817N) ("Venvici") hereby state their intention to occupy part of Infinite
Lifestyle (Singapore) Pte Ltd (Company No. 200515638H) ("Inlife") premises located at level 4, 36 Kaki Bukit Place E
Hub One Singapore 416214 ("Premises") for the purpose of their business activities for a period of one (1) year from
1st August 2017.

 

Venvici hereby understands and agrees that:

 

	1)	That Venvici shall pay to Inlife the sum of S$28,000.00 (Singapore Dollars Twenty Eight Thousand Only) which is equivalent two
months occupation charges upon signing this Memorandum of Understanding where the said sum to be held by Inlife as a security
deposit and shall be refunded within fourteen (14) days at any expiry or lawful termination of this Memorandum of Understanding
without interest to Venvici but otherwise the same or part thereof shall be used by Inlife to offset any payments owing by Venvici
without prejudice to the right of Inlife to recover all monies which may become due or payable by Venvici under this Memorandum
of Understanding.

 

	2)	The monthly payment of S$14,000.00 (being the monthly occupation and utilities charges) to be paid to Inlife on the 1st
of every month, beginning on the 1st of August 2017.

 

	3)	Occupancy includes furnitures and fixtures at the Occupy Premises and Inlife reserves the ownership of each and every items provided
and Venvici Pte Ltd has the responsibility to maintain the said furnitures and fixtures in good state of repair.

 

	4)	Inlife reserves the right to review and change these
terms and conditions without prior notice.

 

 

	Acknowledged and agreed by:	Approved by:
	 	 
	 	 
	/s/ Jon Lim	/s/ Shaik Aziz Shaik Mohideen
	Signature & Date	Signature & Date
	Name: Jon Lim	Name: Shaik Aziz Shaik Mohideen
	For Venvivi Pte Ltd	For Infinite Lifestyle Singapore Ptd Ltd
	Date: 22/6/17	Date: 22/6/17

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