Document:

EMPLOYMENT AGREEMENT

 

This Employment Agreement (the "Agreement") dated as of the October 3, 2019 (the "Effective Date") is
between Society Pass Incorporated, a Nevada corporation (the "Company"), and LIANG WEE LEONG RAYNAULD ("Executive").

 

WITNESSETH:

 

A. The Company desires to hire Executive as its Chief Financial Officer and Executive desires to accept such employment.

 

B. The Company and Executive desire to set forth in this Agreement the terms, conditions and obligations of the parties, with
respect to such employment, and this Agreement is intended by the parties to supersede all previous understandings, whether
written or oral, concerning such employment.

 

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

 

1. Employment. The Company hereby employs Executive, and Executive hereby
accepts employment, subject to the terms and conditions hereof. In connection with the duties to be performed pursuant to
this Agreement, Executive shall report directly to the Chief Executive Officer. The Executive is expected to spend a significant
amount of time in the offices of the Company located abroad or any other offices of the Company. Additionally, Executive may
perform services and hold positions at various direct or indirect wholly or majority-owned subsidiaries of the Company. Executive
shall have the customary duties, responsibilities, and authority of such positions.

 

Job functions include:

 

• Provide
leadership, direction and management of the finance and accounting team;

 

• Responsible for all corporate finance and
fundraising activities of the Company;

 

• Manage the processes for financial modeling and budgets, and overseeing the preparation
of all financial reporting;

 

• Act as signatory for Company's bank accounts;

 

• Responsible for ensuring the risk and
compliance management framework is embedded and operational for the Group;

 

• Establish and develop relations with senior
management and external partners and stakeholders; and

 

• Review and implement all formal finance, HR and IT related procedures.

 

2.
Term. The term of the Agreement (the "Term") shall commence as of the Effective Date. Either party of this Agreement may terminate
this Agreement with or without

 

    	 	1	 

     

    

 

cause upon 30 days notice. Notwithstanding the foregoing, the terms of this Agreement shall be effective until terminated
by the Company or Executive or amended in writing by the Company and the Executive.

3. Compensation; Benefits.

(a) Signing Bonus. At the signing of this Agreement, the Company agrees to pay Executive a
signing bonus (the 'Signing Bonus") in an amount equal to $150,000 (One Hundred Fifty Thousand U.S. Dollars) post completion of
Series C fund raising, condition subsequent that Executive uses the bonus for the purpose to negotiate for a full discharge of
existing liabilities within 6 months of disbursement. If creditors fail to accept settlement the Company reserves the right to
recover the amount from creditors and may terminate this Agreement.

(b) Salary. During the Term of this Agreement, the Company
agrees to pay Executive a monthly salary (the "Salary") in an amount equal to $5,000 (Five Thousand U.S. Dollars) for the period
commencing from 01 September 2019.

(c) ESOP. As consideration for the Executive's employment, the Executive shall participate
in the Company's Employee Stock Option Program (ESOP). Executive acknowledges that Executive must be an employee of the Company
under this Agreement, or another employment agreement, in order to participate in the ESOP.

(d) Annual Bonus: Executive may be
entitled to a bonus at the Company's sole discretion and/or in accordance with the policies and procedures of the Company in effect
from time to time. The Shares shall vest as per the Executive meeting a list of Key Performance Indicators (KPis ), which shall
be outlined in a separate document.

(e) Other Benefits. During the Term of Executive's employment, Executive shall be entitled
to participate in all other benefits, perquisites, vacation days, benefit plans or programs of the Company which are available
generally to office employees and other employees of the Company in accordance with the terms of such plans, benefits or programs.
Company will pay Executive's portions of benefit plan. A 401K benefit plan shall be offered by the Company to Executive no later
than the date of the Company's initial public offering.

(f) Expenses. Executive shall be reimbursed for Executive's reasonable
and approved expenses related to and for promoting the business of the Company, including expenses for air travel, hotels, and
similar items that arise out of Executive's performance of services under this Agreement.

4. Extent of Service. Executive shall
devote substantially all of Executive's time, attention and energies to the business of the Company provided that it does not
interfere with Executive's duties hereunder and does not violate the covenants contained in Section 5.

5. Covenants Regarding Confidential Information and Other Matters. All payments and benefits to Executive under the Agreement
shall be subject to Executive's compliance with the provisions of this Section 5. For purposes of this Section 5, the term "Company"
shall mean, the Company and any direct or indirect wholly or majority-owned subsidiary of the Company.

    	 	2	 

     

    

(a) Confidential Information. Executive acknowledges that in Executive's employment, Executive is or will be making use
of, acquiring or adding to the confidential information of the Company which includes, but is not limited to, memoranda and
other materials or records of a proprietary nature; potential business acquisitions; technical information regarding the operations
of the Company; and records and policy matters relating to finance, personnel, management and operations, including all information
contained in any customer relationship management database. Therefore, in order to protect the confidential information of
the Company and to protect other employees who depend on the Company for regular employment, Executive agrees that Executive
will not in any way utilize any of said confidential information except in connection with Executive's employment by the Company,
and except in connection with the business of the Company. Executive will not copy, reproduce, or take with Executive the
original or any copies of said confidential information and will not directly or indirectly divulge any of said confidential
information to anyone without the prior written consent of the Company.

(b) Confidential Information. The Executive acknowledges
that any work product (software development, technical know-how, computer code, business plans, technical blueprints, copyrights,
trademarks, patents, trade secrets, and any other proprietary rights thereto) shall be deemed the intellectual Property of
the Company.

(c) (i) Non-Solicitation of Clients by Executive. Executive agrees that for so long as Executive is employed
by the Company and continuing for two (2) years thereafter (such period is referred to as the "Executive Restricted Period")
Executive shall not solicit or attempt to solicit the business of any customers or clients of the Company with respect to
services that the Company performs for such customers or clients. The provisions of this Section 5(b )(i) shall not be applicable
to the persons or entities with which Executive maintained relationships with prior to signing this document, or with whom
Executive introduced to the Company through his own independent efforts. Executive agrees that in the event of a dispute regarding
this paragraph, Executive has the burden of proof in establishing that Executive had a pre-existing relationship or introduced
the client or customer to the Company through his own independent efforts.

(ii) Non-Solicitation of Clients by Company. Company
agrees that for two (2) years following termination of Executive's employment by the Company (such period is referred to as
the "Company Restricted Period"), the Company shall not solicit or attempt to solicit the business of any customer or client
of the Company using information obtained exclusively as a result of Executive's efforts while employed by the Company.

(d)
Non-Solicitation of Executives. Executive agrees that during the Restricted Period not to directly or indirectly, by sole
action or in concert with others, induce or influence, or seek to induce or influence any person who is currently engaged
by the Company at the time of the termination of Executive's employment as an employee, agent, independent contractor, or
otherwise to leave the employ of the Company or any successor or assign, or to hire any such person.

(e) Non-Disparagement. During Executive's employment with the Company and at any time thereafter, Executive shall not, directly
or indirectly, engage in any conduct or make any statement, whether in commercial or noncommercial speech, disparaging or criticizing
in any way the Company, or any of their respective officers, directors, employees, customers or agents or any products or services
offered by any of them, nor shall Executive engage in any

    	 	3	 

     

    

 

other conduct or make any other statement that could be reasonably expected to impair the goodwill of any of them.

(f)
Remedies for Breach of Covenants.

(i) In the event that a covenant included in this Section 5 shall be deemed by any court
to be unreasonably broad in any respect, it shall be modified in order to make it reasonable and shall be enforced accordingly;
provided, however, that in the event that any court shall refuse to enforce any of the covenants contained in this Section
5, then the unenforceable covenant shall be deemed eliminated from the provisions of this Agreement for the purpose of those
proceedings to the extent necessary to permit the remaining covenants to be enforced so that the validity, legality or enforceability
of the remaining provisions of this Section 5 shall not be affected thereby.

(ii) Executive acknowledges that any breach of
the covenants contained in this Section 5 will cause irreparable harm to the Company which will be difficult if not impossible
to ascertain, and the Company shall be entitled to seek equitable relief, including injunctive relief, against any actual
or threatened breach hereof, without bond and without liability should such relief be denied, modified or vacated. Neither
the right to obtain such relief nor the obtaining of such relief shall be exclusive of or preclude the Company from any other
remedy the Company or may have hereunder or at law or equity.

6. Severance. Executive shall be entitled to a severance compensation
package equal to 60 days (sixty days) of salary, bonus, benefits and perquisites as defined above under this Agreement starting
from the date of employment termination.

7. Withholding of Taxes. The Company may withhold from any benefits payable under
the Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation
or ruling.

8. Executive's Representations and Understandings.

(a) Executive represents and warrants to the Company that (i)
Executive is free to enter into this Agreement, (ii) this Agreement and Executive's obligations hereunder do not violate the
terms of any other agreement to which Executive is a party or by which Executive is bound and (iii) Executive is not subject
to any confidentiality agreement, non-competition agreement, non-solicitation agreement or any other similar agreement that
restricts Executive's ability to perform the services for the Company for which Executive was hired.

(b) Executive understands
and agrees to comply with all of the written rules and procedures governing employment with the Company, and any direct or
indirect wholly or majority-owned subsidiary of the Company, including but not limited to the Company's Executive Handbook,
written supervisory procedures, and any other employment, compliance, and/or supervisory documents the Company issues from
time to time.

9. Severability. If any provision of this Agreement, as applied to any party or to any circumstance, shall be found by a court
to be void, invalid or unenforceable, the same shall in no

 

    	 	4	 

     

    

 

way affect any other provision of this Agreement or the application of any such provision in any other circumstance, or
the validity or enforceability of this Agreement.

10. Entire Understanding. This Agreement contains the entire understanding
of the parties hereto relating to the subject matter contained herein and supersedes all prior and collateral agreements,
understandings, statements and negotiations of the parties. Each party acknowledges that no representations, inducements,
promises or agreements, oral or written, with reference to the subject matter hereof have been made other than as expressly
set forth herein. This Agreement may not be modified or rescinded except by a written agreement signed by both parties.

11.
Consideration. Executive acknowledges that Executive's continued employment during the term of this Agreement and the other
compensation and benefits provided in this Agreement are sufficient compensation and consideration for purposes of entering
into the restrictions and limitations provided herein, including, but not limited to, the restrictions and limitations set
forth in Section 5.

12. Waiver. Failure by either party to insist upon strict compliance with any of the terms, covenants
or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment
of any right or remedy hereunder at any time be deemed a waiver or relinquishment of such right or remedy.

13. Governing Law.
Venue. This Agreement shall be governed by the law of the State of New York (without giving effect to choice of law principles
thereof). The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties
shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms
and provisions of this Agreement in any court having jurisdiction in this matter. The parties hereby consent to the concurrent
exclusive jurisdiction of the courts of the State of New York and the United States courts located in New York County, New
York in connection with any suit, action or proceeding arising out of or relating in any manner to this Agreement, and each
of the Parties further irrevocably agrees to waive any objection to the venue of any such suit or proceeding in either court,
or to in personam jurisdiction.

14. Waiver of Jury Trial. BOTH PARTIES AGREE TO WAIVE ANY RIGHT TO HAVE A WRY PARTICIPATE
IN THE RESOLUTION OF ANY DISPUTE OR CLAIM, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN ANY OF THE PARTIES OR
ANY OF THEIR RESPECTIVE AFFILIATES ARISING OUT OF, CONNECTED WITH, RELATED TO OR INCIDENTAL TO THIS AGREEMENT.

15. Notices.
All notices under this Agreement shall be in writing and shall be (a) delivered in person, (b) sent by e-mail, or ( c) mailed,
postage prepaid, either by registered or certified mail, return receipt requested, or overnight express carrier, addressed
in each case as set forth on the signature page hereto ( or such other address as may be designated by the party by giving
notice in accordance with this Section. All notices sent pursuant to the terms of this Section shall be deemed received (i)
if personally delivered, then on the date of delivery; (ii) if sent by e-mail before 2:00 p.m. local time of the recipient,
on the day sent if a business day or if such day is not a business day or if sent after 2:00 p.m. local time of the recipient,
then on the

    	 	5	 

     

    

 

next business day; (iii) if sent by overnight, express carrier, on the next business day immediately following the day
sent; or (iv) if sent by registered or certified mail, on the earlier of the third business day following the day sent or
when actually received.

	Address for Notices:	 	 
	 	 	 
	To Executive:	 	To Company
	 	 	 
	Address:	 	Address:
	#14-01 Haig Court	 	55 West 39th Street, 18th Floor
	152 Haig Road	 	New York, NY 10018
	Singapore 438791	 	 
	 	 	 
	E-mail: dennis@thesocietypass.com	 	E-mail: dennis@thesocietypass.com
	 	 	 
	 	 	With a mandatory courtesy copy to the Company’s attorney:
	 	 	Peter Dichiara, Esq.
	 	 	Carmel, Milazzo & DiChiara LLP
	 	 	55 West 39th Street, 18th Floor
	 	 	New York, NY 10018
	 	 	E-mail: pdichiara@cmdllp.com

 

16. No Presumption. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting or causing any instrument to be drafted.

17. Counterparts. This Agreement may be executed in counterparts, each of which shall be considered one and the same agreement
and shall become effective when both counterparts have been signed by each of the parties and delivered to the other party, it
being understood that both parties need not sign the same counterpart.

 

    	 	6	 

     

    

 

 

IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the day and year first
above written.

 

	Executive	Company
	 	 
	/s/ Liang Raynauld	/s/ Dennis Nguyen
	Liang Wee Leong Raynauld	By: Dennis Luan Thuc Nguyen
	 	Title: President

 

    	 	7Execution
Version

 

 

Dated
this
16th day of February
2021

 

Between

 

GOODVENTURES
SEA LIMITED

 

 

And

 

SOPA
TECHNOLOGY PTE. LTD.

 

 

 

 

 

 

 

 

 

 

 

ASSET
PURCHASE AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

20
Cecil Street

#10-03,
PLUS

Singapore
049705

Telephone:
(65) 62280300

Facsimile:
(65) 62280329

Website:
www.chp.law

    	 	1	 

     

    

Contents

	1.
    SALE AND PURCHASE OF ASSETS	3
	2.
    ASSIGNMENT OF INTELLECTUAL PROPERTY	3
	3.
    CONSIDERATION	4
	4.
    CONDITIONS PRECEDENT	4
	5.
    COMPLETION	6
	6.
    REPRESENTATIONS AND WARRANTIES	7
	7.
    POST-COMPLETION UNDERTAKINGS	9
	8.
    INDEMNITY	10
	9.
    TERMINATION	10
	10.
    CONFIDENTIALITY AND ANNOUNCEMENTS	11
	11.
    FURTHER ASSURANCES	12
	12.
    ASSIGNMENT	12
	13.
    COSTS	12
	14.
    NOTICES	12
	15.
    ENTIRE AGREEMENT	13
	16.
    REMEDIES AND WAIVER	13
	17.
    AMENDMENTS	13
	18.
    SUCCESSORS AND ASSIGNS	14
	19.
    COUNTERPARTS	14
	20.
    SEVERABILITY	14
	21.
    ILLEGALITY	14
	22.
    THIRD PARTY RIGHTS	14
	23.
    GOVERNING LAW AND JURISDICTION	14
	SCHEDULE
    1 DEFINITIONS AND INTERPRETATION	16
	SCHEDULE
    2 THE ASSETS	20
	SCHEDULE
    3 LEGAL ASSIGNMENT	28
	1.
    ASSIGNMENT	28
	2.
    FURTHER ASSURANCE	29
	3.
    ADDITIONAL PROVISIONS	29

    	 	2	 

     

    

 

 

This
Asset Purchase Agreement (this "Agreement ") Is entered into on 16 day of February 2021,

 

BETWEEN

 

(1)
GOODVENTURES
SEA LIMITED (Hong Kong Company Registration No. 2179136), a company

incorporate
dunder the laws of Hong Kong and having its registered office at 31/F., Tower Two, Times

Square,
1 Matheson Street. causeway
Bay, Hong Kong
(the· v endor");

 

AND

 

(2)
SOPA
TECHNOLOGY PTE. LTD. (UEN No. 201918025E), a company incorporated under the laws of

Singapore
and having its registered office at 11 Collyer Quay #14-06 The Arcade Singapore 049317 (the"
Purchaser"),

 

(each
a" Pa rty"
, and collectively, the"
Parties•).

 

Unless
the context otherwise requires, the definitions and interpretative provisions In Schedule 1 apply

throughout
this Agreement

 

WHEREAS

 

(A)
The
Vendor is the holding company of the Group, which operated a lifestyle e-commerce retail

business
inVietnam, Phttippines, Malaysia and Singapore;

 

(B)
The
Vendor
is the lawfu lcreator, author, and owner of the Assets set out in Schedule 2; and

 

(C)
The
Vendor wishes to sell, and the Purchaser has agreed to purchase, the Assets subject to the

terms
andconditions
set outIn
this Agreement.

IS
AGREED as follows,

 

1.
SALE AND PURCHASE Of ASSETS

 

1.1
Subject
to the terms and conditions of this Agreement, the
Vendor, as legal andbeneficialowner, shall
sell,

and
the Purchaser shall purchase, all of the Vendor's present and future rights, title, estate
and interest to

the
Assets as
at the Completion Date, with full title guarantee and free from any
and all Encumbrances whatsoever.

 

1.2
The
Vendor acknowledges that from and after the Completion Date, it shall not have any right

to
or any claim whatsoever to the Assets, and shall waive in favour of the Purchaser, its right, interests

and
title in and to the Assets.

 

2.
ASSIGNMENT OF INTELLECTUAL PROPERTY

 

2.1
Without
prejudice to the generality of Clause 1, the Vendor shall, upon execution of the Legal 

Assignment.
absolutely and
unconditionally assign to the Purchaser the full benefit of the IPRs.

 

2.2
The
IPRs shall be transferred to the Purchaser by delivery of the duly executed Legal Assignment

to
the Purchaser and, where
applicable, by delivery of the IPRs to the Purchaser and by issuance of

notice
of the assignment to the applicable intellectual property registry(les) In the relevant
jurisdictions,

where
applicable.

 

    	 	3	 

     

    

 

 

3.
CONSIDERATION

 

3.1
Subject
to Clause 4, and in reliance upon the Vendor Warranties and full compliance by the Vendor

of
its undertakings and obligalions herein contained, the
Purchaser shall pay the cash Consideration
for

the
Assets shall be paid by the Purchaser in instalments as follows:

 

	S/No.	Consideration
    Due Date	Consideration
    Amount
	(a)	On
    the Completion
    Date	.	US$15,000
	 
	(b)	Within
    15 days from the Completion Date.	USS25,000
	(c)	Within
    30 days from Completion Date.	US$35,000
	(d)	Within
    45 days from the Completion Date,	US$15,000
	(e)	Within
    60 days from the Completion Date,	US$100,000
	 	Total	US$200,000

 

 

3.2
Subject
to Clause 4, and in reliance upon the Vendor Warranties and full compliance by
the Vendor

of
its undertakings and obligations herein contained, together with Clause 3.1(e) above, the Purchaser

shall
within 60 days from the Compl etion Date, issue the Consideration Shares to the Vendor as
further

Consideration
for the
Assets and the assignment of the intellectual Property and IPRs.

 

3.3
The
Parties agree that

 

(a)
the
payments made by the Purchaser lo the Vendor in accordance wilh
this Clause 3 shall constitute
a

good
discharge of the Purchaser's payment obligations under this Agreement and valuable consideration

for
the Vendor's obligations to be carried out,
observed and performed in accordance with the terms of this

Agreement;
and

 

(b)
all
payments made by the Purchaser to the Vendor (save in respect of Clause 3.2) under this

Agreement
shall be made by way of in immediately available funds by electronic transfer to the Vendor's

bank
account as follows (or such other bank account as the Vendor may appoint, details of which shall

be
notified by the Vendor to the Purchaser in writing at least 3 Business Days prior
to Completion):

 

Account
Holder: GOODVENTURES SEA LIMITED

Name
of Bank: HSBC Hong Kong

Account
Number: 023-362676-838

Swift
Code: HSBCHKHHHKH

Address:
1 Queen’s Road Central, Hong Konng 

 

 

4.
CONDITIONS PRECEDENT

 

4.1
The
obligation of the Parties to complete the sale and purchase of the Assets and the assignment

of
the Intellectual Property, and IPRs shall be subject to and conditional upon the following conditions

having
been fulfilled (each, a “Condition Precedent' and,
collectively, the “Conditions Precedent”):

 

(a)
the
Purchaser being satisfied in all respects with the results of its investigations, and with

the
results and formof a due diligence report in respectof the Assets, Intellectual Property and

IPRs
prior to Completion;

 

    	 	4	 

     

    

 

(b)
the Vendor having obtained all necessary and applicable consents, approvals,

registrations
and/or waivers from third parties and/or under all applicable laws for the sale

and
transfer of the Assets and the assignment of the Intellectual Property and IPRs to the

Purchaser,
and such consents, approvals, registrations and waivers not having been

amended
or revoked before Completion, and if any such consents, approvals, registrations

or
waivers are subject to conditions, such conditions being acceptable to the Purchaser.

 

(c)
this Agreement and all transaction contemplaled therein, including but not limited to the

sale
and purchase of the Assets and the assignment of the Intellectual Property and IPRs,

or
any part thereof, not being in contravention of and not prohibited under any applicable

law,
and no injunction or order shall have been granted or issued by any governmental

authority
restraining or prohibiting such sale and purchase or imposing damages or

penalties
as a result thereof;

 

(d)
the Vendor procuring that legal opinion(s} be issued in favour of the Purchaser confirming

in
relation to each of the Transaction Documents:

 

(i}
the authority of all parties incorporated, domiciled, or resident outside Singapore to

enter
into the Transaction Documents (as applicable}; and

 

(ii)
the validity and enforceability of the Transaction Documents against such parties

(as
applicable);

 

(e)
the execution by Parties of such further documents, agreements, and/or deeds and the

doing
of such further acts and things by Parties, as may be required so that full effect shall

be
given to the provisions of this Agreement and the transactions contemplated

thereunder,
and

 

(f)
all Warranties provided by the Parties under this Agreement being complied with, true,

accurate,
and correct as at the date of this Agreement and each day up to and including

Completion
Date.

 

4.2
The Parties shall cooperate fully with each other to procure the satisfaction of the Conditions

Precedent,
including the provision of all information reasonably necessary, or as may be

reasonably
requested by the Purchaser, in respect of the due diligence investigations of the

Purchaser,
the making of any notification or filing required by any governmental authority or

otherwise
deemed reasonably necessary by the Purchaser and the provision of any other form

of
assistance that each Party may reasonably require.

 

4.3
Each Party shall notify the other Party upon becoming aware that any of the Conditions have

been
fulfilled. The first Business Day in Singapore on or by which all Conditions have been

fulfilled
(or waived in accordance with Clause 4.6) Is the ' Unconditional Date".

 

4.4
If the Unconditional Date has not occurred on or before the date that is three months following

that
date of this Agreement (or such later date as the parties may agree in writing}, this Agreement

shall
automatically terminate (other than the Surviving Provisions). In such event, no party (nor

any
of its Affiliates) shall have any claim under this Agreement of any nature against the other

parties
(or any of their Affiliates} except in respect of any rights and liabilities which have accrued

before
termination or under any of the Surviving Provisions.

 

4.5
If at any time, one Party shall become aware of a fact or matter or any circumstances that might

prevent
any of the Conditions Precedent from being satisfied, it shall immediately inform the other

Parties
of such fact, matter or circumstance.

 

4.6
The Purchaser may, in its absolute discretion, waive any or all of the Conditions Precedent, in

whole
or in part, by written notice to the Vendor.

 

 

    	 	5	 

     

    

5.
COMPLETION

 

5.1
Subject to satisfaction by the Vendor, or waiver by the Purchaser, as the case may be, of the

Conditions
Precedent, Completion shall take place at the Purchaser's solicitor's offices, or such

other
location as may be mutually agreed in writing by the Parties, on the Completion Date.

 

5.2
On or before Completion Date, the Vendor shall deliver or make available to the Purchaser:

 

(a)
the Assets;

 

(b)
counterparts of the Legal Assignment in respect of the relevant Assets (where applicable),

duly
executed by the Vendor;

 

(c)
certified copy of the board resolutions of the Vendor authorising the execution and delivery

of
this Agreement, the Legal Assignment, and all other documents as the Purchaser may

reasonably
require so that full effect shall be given to the provisions of this Agreement and

the
arrangements contemplated herein; and

 

(d)
Such other agreements, deeds, or other documents as the Purchaser may reasonably

require
so that full effect shall be given to the provisions of this Agreement and the

arrangements
contemplated herein.

 

5.3
Notwithstanding Clause 3.1, title and risk of loss or damage to all the Assets shall pass to the

Purchaser
on the Completion Date.

 

5.4
Against compliance of the Vendor with Clauses 5.1 and 5.2, the Purchaser shall effect payment

of
the respective Consideration in favour of the Vendor in accordance with Clause 3.

 

5.5
Against compliance with Clauses 5.1 and 5.2, and in connection with Clause 3.2, the Purchaser

shall
on the relevant date deliver, procure the delivery of, make available or procure the

availability
of to the Vendor the following:

 

(a)
the new share certificates in respect of the relevant Consideration Shares that have been

duly
signed and sealed;

 

(b)
a copy of the Purchaser's register of members to be filed with ACRA evidencing that the

Vendor
has been entered into such register as holder of the relevant Consideration Shares;

and

 

(c)
certified true copies of the duly signed board resolutions and shareholders' resolutions of

the
Purchaser authorising:

 

(i)
the updating of the electronic register of members of the Purchaser maintained with

ACRA
to reflect the Vendor as the holder of the relevant Consideration Shares and

the
making of such other entries into other physical and/or electronic corporate

records
of the Purchaser as may be necessary; and

 

(ii)
the issuance by the Purchaser of new share certificates to the Vendor and the

affixation
of the Company's seal thereto.

 

5.6
In the event of non-compliance by the Vendor of its obligations set out in Clause 5.2 and in

connection
with Clause 5.2, the Purchaser shall be entitled, in its sole discretion, by written notice

to
the other Party, to:

 

(a)
defer Completion to a date not more than 20 Business Days after the date scheduled for

Completion
(in which case the provisions of this Clause 5.6(a) shall apply to Completion

as
so deferred);

 

    	 	6	 

     

    

 

(b)
proceed to effect Completion so far as practicable, having regard to the defaults which

have
occurred, without prejudice to its rights or remedies, including the right to claim

damages
against the Vendor; or

 

(c)
terminate this Agreement, whereupon the Parties shall be released and discharged from

their
respective obligations under this Agreement with no claim against the other for costs,

damages,
compensation or otherwise save in respect of any existing breaches (if any) and

except
for the respective obligations, covenants or undertakings which, pursuant to the

terms
of this Agreement, are to survive such termination.

 

6.
REPRESENTATIONS AND WARRANTIES

 

6.1
The Vendor and Purchaser warrant to one another that:

 

(a)
it is a company duly incorporated and validly existing under the laws of its jurisdiction of

incorporation;

 

(b)
it has the requisite corporate powers and authority and all necessary permits,

authorisations,
consents and approvals to enter into and perform this Agreement and any

other
Transaction Documents and such documents, when executed, will constitute valid

and
binding obligations on it, in accordance with their respective terms;

 

(c)
the execution and delivery of, and the performance by such Party of its obligations under

this
Agreement will not result in a breach of, or give any third party a right to terminate or

modify,
or result in the creation of any Encumbrance under, any agreement, licence or

other
instrument or result in a breach of any applicable law (including any relevant

securities
law), order, judgment or decree of any jurisdiction, court, governmental agency

or
regulatory body (including any relevant stock exchange or securities council) to which

such
Party is a party or by which such Party or any of its assets is bound;

 

(d)
no Insolvency Event has occurred in relation to it as at the date of this Agreement; and

 

(e)
it is not and has not been engaged in any litigation, arbitration, mediation, dispute

resolution
or criminal proceedings, and there are no such proceedings pending, threatened

or
expected, either by or against him or any person for whose acts or defaults he is or may

be
vicariously liable, and he is not aware of any facts or circumstances which may give

rise
to such proceedings involving ii or such other person for whose acts or defaults he is

or
may be vicariously liable.

 

6.2
The Vendor further warrants to the Purchaser that:

 

(a)
it is the sole absolute legal and beneficial owner of the Assets free from Encumbrance;

 

(b)
the IPRs are original and/or proprietary to the Vendor and the use or commercial

exploitation
of the IPRs does not and will not infringe any third party's Intellectual Property

rights
or constitute a misappropriation or unlawful disclosure or misuse of any third party's

trade
secrets or confidential information or a breach of other rights whatsoever of any third

party;

 

(c)
where the Assets are trade secrets or Confidential Information of the Vendor, these have

not
been and shall not be disclosed to any other party, save for disclosure in the ordinary

course
of business to the Vendor's contract manufacturers on the basis that such

disclosure
is to be treated strictly as being of a confidential character;

 

(d)
the Assets, will be sufficient and complete, and contain all information and/or data, to

enable
the Purchaser to smoothly undertake the entirety of the lifestyle e-commerce retail

business
previously conducted by the Vendor on its own account and will be presented in

a
concise and legible manner, consistent with market practice and that there are no other

assets
in relation to the lifestyle e-commerce retail business other than the Assets;

 

    	 	7	 

     

    

 

(e)
it has not assigned, encumbered, licensed, transferred or otherwise disposed of any rights,

including
any Intellectual Property rights, arising in or in relation to the Assets;

 

(f)
all of the I PRs are valid and subsisting and all renewals due (if any) in respect of any of

the
IPRs have been paid;

 

(g)
pending Completion, it shall take all necessary steps, at its own cost and expense. to

establish,
confirm or defend its title to the Assets;

 

(h)
no event, circumstance, effect, occurrence or state of affairs or any combination thereof

which
is, or is reasonably likely to be, materially adverse to the Assets, business,

operations,
assets, liabilities (including contingent liabilities), business or financial

condition,
results or prospects of the Vendor has occurred since the date of this Agreement

and
is continuing;

 

(i)
the lifestyle e-commerce retail business of the Vendor has at least 1,000,000 unique and

active
users as at each date this Warranty is given;

 

(j)
as of March 2020, there have been at least 130,000 unique and genuine transactions

undertaken
by users of the lifestyle e-commerce retail business of the Vendor, to which

the
Vendor has received good revenue in cash (not subject to any claims, deductions,

disputes,
clawbacks, or otherwise of any nature);

 

(k)
there is no present or prospective ciaim, proceeding or litigation in respect of any of the Assets, or which may in any way impair,
limit, inhibit, diminish or infringe upon the Vendor's legal and beneficial ownership of the same;

 

(I)
the Assets are in the Vendor's possession, custody and control and is and shall be

maintained
by the Vendor in good order and condition pending and upon Completion;

 

(m)
payments for all technology platforms and business of Leflair Vietnam were:(1) funded by;

and
(2) made by, or on behalf of, the Vendor.

 

(n)
the contents of the letter between Leflair Vietnam and the Vendor attesting to the state of

affairs
set out in 6.2(m) is true, accurate, and not misleading;

 

(o)
the holder of such bank account provided by the Vendor for the payment of the

Consideration,
where the holder is not the Vendor, is duly authorised to collect such

Consideration
for and on behalf of the Vendor; and

 

(p)
No subsidiary/affiliate, present or former employee or consultant or creditor/supplier of the

Vendor
has any right, title, or interest, directly or indirectly, in whole or In part, in any IPRs.

To
Vendor's knowledge, no subsidiary/affiliate, present or former employee, consultant or

independent
contractor or creditor/supplier of Vendor is, as a result of or in the course of

such
subsidiary/affiliate, present or former employee, consultant or independent contractor

or
creditor/supplier's engagement by the Vendor, in default or breach of any material term

of
any employment agreement, non-disclosure agreement, assignment of invention

agreement
or similar agreement

 

6.3
The Vendor further undertakes to the Purchaser that

 

(a)
if prior to Completion, any event shall occur which results or may result in any Vendor

Warranty
being unfulfilled, untrue, incorrect or misleading at Completion, it shall, upon

becoming
aware of the same, immediately notify the Purchaser in writing providing

sufficient
details thereof and it shall make all such investigations and/or do all such acts

concerning
the event or matter which the Purchaser may reasonably require;

 

(b)
it shall not, and shall procure that its Representatives shall not, do, allow or procure any

act
or omission before Completion which would constitute a breach of any of the Vendor

 

    	 	8	 

     

    

 

Warranties
if the Vendor Warranties were to be repeated on each day up to and including

the
Completion Date by reference to the facts and circumstances then existing; and

 

(c)
on or prior to the Completion Date, the Vendor will issue any required notice of assignment

related
to the assignment, transfer, or delivery of any Assets, including the IPRs and other

Assets
set out in part B of Schedule 2 to all relevant third-parties (including the applicable

intellectual
property registry(ies) in the relevant jurisdictions, where applicable).

 

6.4
Each Warranty shall be separate and independent, and no Warranty shall be limited by reference

to
any other Warranty or by any other provision in this Agreement.

 

6.5
Each Party represents and warrants to the other Parties that the Warranties are true and correct

in
all respects and not misleading as at the date of this Agreement, and will be fulfilled down to,

and
will be true and correct in all respects and not misleading as at Completion, as if they had

been
given afresh at such Completion and with reference to the facts and circumstances then

existing
at Completion.

 

6.6
The Warranties under this Clause 6 and all other provisions of this Agreement insofar as the

same
shall not have been performed at Completion shall not be extinguished or affected by

Completion,
or by any other event or matter whatsoever (including, without limitation, any

satisfaction
and/or waiver of any Condition Precedent, except by prior specific authorised written

waiver
or release by the other Party.

 

6.
7 If, at any time prior to, at, or after Completion, it shall be found that any of the Vendor Warranties

was,
when given, or would be, at Completion not complied with or otherwise untrue or misleading,

the
Purchaser shall be entitled, in its sole discretion, by written notice to the Vendor, to forthwith

terminate
this Agreement, without further liability to the Vendor, but a failure by the Purchaser to

exercise
this right shall not constitute a waiver of any other rights of the Purchaser arising out of

such
breach.

 

7.
POST-COMPLETION UNDERTAKINGS

 

7.1
Following Completion, the Vendor agrees and undertakes to the Purchaser that, it shall forthwith

cease
using in any way or commercially exploiting the Assets (including the Intellectual Property

and
IPRs) or any portion or derivative thereof.

 

7.2
The Parties shall immediately upon issuance of the Consideration Shares to the Vendor, together

with
the shareholder(s) of the Purchaser, enter into a shareholders' agreement substantially in

the
form set out in Schedule 4 to govern the affairs of the Purchaser, and Purchaser agrees that

it
shall procure the entry of its shareholder(s) into such shareholders' agreement.

 

7.3
The Vendor confirms that it has received independent legal advice relating to all the matters

provided
for in this Agreement, including the provisions of this Clause 7. The Vendor agrees that

it
considers that the restrictions contained in this Clause 7 are no greater than is reasonable and

necessary
for the protection of the interests of the Purchaser in and/or relating to the Intellectual

Property
but, if any such restriction shall be held to be void but would be valid If deleted in part

or
reduced in application, such restriction shall apply with such deletion or modification as may

be
necessary to make it valid and enforceable.

 

8.
INDEMNITY

 

The
Vendor hereby indemnifies and defends each of Purchaser and its Affiliates and their

respective
officers, directors, employees and agents (collectively, the "Purchaser Indemnitees•)

against,
and shall hold each of them harmless from and against, and shall pay and reimburse

each
of them for, any and all liabilities, losses, claims, costs, charges and expenses of any nature

whatsoever
(including, without limitation, expenses of investigation and enforcement of this

indemnity
and legal expenses on a full indemnity basis) which the Purchaser indemnitees may

incur
or sustain from or in consequence of any of the undertakings, agreements, obligations or

 

    	 	9	 

     

    

 

liabilities
under this Agreement not being materially correct or materially complied with. Such

indemnity
shall extend to include all charges and expenses which the Purchaser may reasonably

pay
or incur in investigating, disputing or defending any claim or action or other proceedings in

respect
of which the Vendor is or may be liable to indemnify the Purchaser lndemnitees under

this
Clause 8. This indemnity shall be without prejudice to any other rights and remedies of the

Purchaser
in relation to any such breach of any such warranties and all other rights and remedies

are
expressly reserved to the Purchaser.

 

9.
TERMINATION

 

9.1
Without prejudice to Clauses 4.4, 5.6(c), and 6. 7, and without affecting any other right or remedy

available
to Parties, this Agreement (other than the Surviving Provisions) may be terminated by

mutual
agreement in writing between the Parties.

 

9.2
The termination of this Agreement shall not apply retrospectively. Upon termination, the

Purchaser
shall not be obliged to return to the Vendor any Asset, Intellectual Property and/or IPR

acquired
by the Purchaser from the Vendor. Upon termination, the Vendor shall not be obliged

to
make any further payments, and/or refund any Consideration received from the Purchaser in

respect
of such Assets to which good and marketable title has been given by the Vendor to the

Purchaser.

 

9.
3 The termination of this Agreement shall not release any Party from any liability (including liability

for
breach of any Warranty) which at the time of termination has already accrued, or which

thereafter
may accrue in respect of any act or omission prior to such termination.

 

10.
CONFIDENTIALITY ANO ANNOUNCEMENTS

 

10.1
Each Party undertakes that it shall (and, where relevant, undertakes to procure that its officers,

employees,
agents and professional and other advisers and those of any member ot its group

shall)
use all reasonable endeavours to keep the Confidential Information confidential at all times

and
not permit or cause the disclosure of any Confidential Information which it may have or

acquire
before or after the date of this Agreement, including without limitation any information

relating
to the Assets, provisions of this Agreement, and/or any agreement entered into pursuant

to
this Agreement, except as this Clause 1 0 otherwise permits. In performing its obligations under

this
Clause 10, each Party shall apply confidentiality standards and procedures at least as

stringent
as those it applies generally in relation to its own confidential information.

 

10.2
Each Party shall use its reasonable endeavours to alert the other Party as soon as is reasonably

practical
after it becomes aware of any request from a third party for disclosure of any Confidential

Information
relating to the other Party and upon the other Party's reasonable request will join It

in
asserting against any third party that the Confidential Information and its contents are protected

by
privilege and that, as against such third party, that privilege has not been waived.

 

10.3
The obligation of confidentiality under Clause 10.1 does not apply to:

 

(a)
information which at the date of disclosure is within the public domain (otherwise than as

a
result of a breach of this Clause 1 0);

 

(b)
the disclosure of information to the extent required to be disclosed by law, regulation or

any
regulatory authority;

 

(c)
information which is independently developed by the relevant person from information

provided
or obtained other than pursuant to or in connection with this Agreement;

 

(d)
the disclosure by any Party in confidence to its officers, employees, agents, and

professional
and other advisers, of information reasonably required to be disclosed for a

purpose
reasonably incidental to this Agreement; or

 

    	 	10	 

     

    

 

(e}
any announcement made in accordance with the terms of Clause 10.7.

 

10.4
Subject to Clause 10.5, each Party shall inform any person to whom it provides Confidential

Information
pursuant to Clause 10.3 that such information is confidential and shall only provide

such
Confidential Information to such person if they agree:

 

(a)
to keep it confidential on the terms of and otherwise to comply with, this Clause 10; and

 

(b}
not to disclose it to any third party (other than those persons to whom it has already been

disclosed
in accordance with the terms of this Agreement).

 

10.5
The obligations in Clause 10.4 shall not apply to any disclosure pursuant to Clause 10.3(b).

 

10.6
The disclosing Party shall at the request of the other Party enforce this Clause 1 O against any

person
to whom It has disclosed the Confidential Information.

 

10.7
Except for disclosures made by Sopa Pass Incorporated in public filing made with the United

States
Securities and Exchange Commission, no announcements or other publicity shall be

issued,
given or made concerning this Agreement or the subject matter of this Agreement unless,

and
in the form, agreed by the Parties or as required by law (in which case each of the Parties

shall
be afforded a reasonable opportunity to see and comment on the proposed announcement

before
issue).

 

11.
FURTHER ASSURANCES

 

Each
Party agrees to do and execute or procure to be done and executed all such further acts,

deeds,
things and documents as may be necessary to give effect to the terms of 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.

 

12.
ASSIGNMENT

 

Each
Party shall not assign, transfer, mortgage, charge, subcontract or otherwise deal in any

other
manner with any or all of its respective rights or obligations hereunder to any party, or grant,

declare,
create or dispose of any right or interest in It, unless with the prior written consent of the

other
Party.

 

13.
COSTS

 

Unless
otherwise provided in this Agreement, the costs and expenses incurred in connection with

the
preparation. negotiation and entry Into of this Agreement, including any legal costs shall be

borne
by the Purchaser.

 

14.
NOTICES

 

14.1
All notices and other communications to be given, served or made under or in connection with

this
Agreement shall be in writing In English, signed by an authorised person of the sender (where

applicable),
and delivered by hand, sent by pre-paid post, or sent by email, to the Parties at their

respective
address indicated as follows (or to such other address as a Party may notify the other

Party
of in accordance with this Clause 14):

 

    	 	11	 

     

    

 

 

The
Vendor

 

Attention:
Loic Gautier and Pierre-Antoine Brun

 

Address:
31/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong

Kong

 

Email:
Loic.Gautier@ymail.com; Loic@leflair.com; Loic@leflair.vn;

loic.gautier01@gmail.com
I brun.pierre.antoine@gmail.com; pierre@leflair.vn

 

The
Purchaser

 

Attention:
Dennis Nguyen

Address:
11 Collyer Quay #14-06 The Arcade Singapore 049317

 

Email:
dennis@thesocietypass.com

 

14.2
A Party may change its details given in Clause 14.1 by giving written notice to the other Party,

the
change taking effect for the Party 5 Business Days after the deemed receipt of the notice.

 

14.3
A notice or other communication made or given by one Party to the other Party in accordance

with
this Clause 14 shall be effected and deemed to have been duly given, served or made:

 

(a)
if delivered by hand, on signature of a delivery receipt or at the time the notice or other

communication
is left at the relevant address;

 

(b)
if sent by any delivery service providing proof of delivery, at the time recorded by the

delivery
service; and

 

(c)
if sent by email, on the date and at the time recorded on the face of the email as having

been
sent by the sending Party,

provided
that in each case where service occurs after 6:00pm on a Business Day or on a day

which
is not a Business Day, service shall be deemed to occur at 9:00am on the next following

Business
Day.

 

14.4
In proving such email service, it shall be sufficient to prove that an email was delivered to any

Party
where an email confirmation note indicates that the transmission was successful and has

been
read.

 

15.
ENTIRE AGREEMENT

 

15.1
The Parties agree that this Agreement shall constitute the entire agreement between them with

respect
to the subject matters of this Agreement, and shall supersede all prior or

contemporaneous
proposals, agreements and all other communications (whether written or oral,

express
or implied) entered into between the Parties in respect of the matters dealt with herein.

 

15.2
Nothing in this Clause 15 shall limit or exclude any liability for fraud or fraudulent

misrepresentation.

 

16.
REMEDIES AND WAIVER

 

16.1
No remedy conferred by any of the provisions of this Agreement is intended to be exclusive of

any
other remedy which is otherwise available 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. The election of

any
one or more of such remedies by any Party shall not constitute a waiver by such Party of the

right
to pursue other available remedies.

 

    	 	12	 

     

    

 

16.2
A waiver of any term, provision or condition of, or consent granted under, this Agreement shall

be
effective only if given in writing and signed by the waiving or consenting Party and then only

in
the instance and for the purpose for which it is given.

 

16.3
The failure by any Party at any time to exercise, or delay on its part in exercising, any right or

remedy
under this Agreement or to require performance by the other Party or to claim a breach

of
any term of this Agreement shall not be deemed to be a waiver of such or any other rights or

remedies
available to him, nor will any single or partial exercise of any right or remedy preclude

any
other or further exercise thereof or the exercise of any other right or remedy.

 

17.
AMENDMENTS

 

No
amendment. modification of or addition to any provision of this Agreement shall be effective

unless
mutually agreed, made in writing and signed by all Parties or their duly authorised

Representatives
(where applicable).

 

18.
SUCCESSORS AND ASSIGNS

 

The
Vendor agrees that the benefit of every provision in this Agreement is given to the Purchaser

for
itself and Its successors in title and assigns. Accordingly, the Purchaser (and its successors

in
title and assigns) may, without the consent of the Vendor, assign to the beneficial owner for

the
time being of the Assets, Intellectual Property and/or IPRs the benefit of all or any of the

Vendor's
obligations under this Agreement and/or any benefit arising under or out of this

Agreement

 

19.
COUNTERPARTS

 

This
Agreement may be executed in any number of counterparts, and by eaeh Party on separate

counterparts.
Each counterpart is an original, but all counterparts shall together constitute one

and
the same instrument. Delivery of a counterpart of this Agreement by email attachment shall

be
an effective mode of delivery.

 

20.
SEVERABILITY

 

If
any term of this Agreement or the application of any such term is held by a court of competent

jurisdiction
to be wholly or partly illegal, invalid or unenforceable, the same shall be deemed to

be
deleted from this Agreement and be of no force and effect. whereas the other terms hereof

shall
remain in full force and effect as if such term had not originally been contained in this

Agreement.
In the event of such deletion, and if the commercial basis of this Agreement is,

whether
by reason of any illegality or change in circumstances, substantially altered, the Parties

shall
review and agree on revisions mutually acceptable to them which shall most closely reflect

their
original intent and purposes in place of the terms so deleted.

 

21.
ILLEGALITY

 

The
illegality, invalidity or unenforceability of any provision of this Agreement under the law of

any
jurisdiction shall not affect its legality, validity or enforceability under the law of any other

jurisdiction.

 

22.
THIRD PARTY RIGHTS

 

Save
as otherwise provided in this Agreement. nothing in this Agreement is intended to grant to

any
third party any right to enforce any term of this Agreement or to confer on any third party any

 

    	 	13	 

     

    

 

benefits
under this Agreement and, to the fullest extent permissible under any applicable law,

this
Agreement excludes the operation of any statute or law that confers any third party rights,

including
the Contract (Rights of Third Parties) Act (Chapter 538).

 

23.
GOVERNING LAW AND JURISDICTION

 

23.
1 This Agreement, and any dispute or claim arising out of or in connection with it, its subject matter

or
its formation (including non-contractual disputes or claims), shall be governed by and

construed
in accordance with the laws of Singapore.

 

23.2
The Parties agree that the courts of Singapore shall have exclusive jurisdiction to settle any

dispute
or claim arising out of or in connection with this Agreement, its subject matter or its

formation
(including non-contractual disputes or claims).

(the
rest of this page is intentionally left blank)

 

    	 	14	 

     

    

 

	The
    Vendor	 	 
	 	 	 
	SIGNED
    for and on behalf of GOODVENTURES SEA LIMITED in the presence of:	 	/s/
    Pierre-Antoine Frank Jacques Brun
	 	 	Name:
    Pierre-Antoine Frank Jacques Brun
	/s/
    Loic Gautier (signed)	 	Title:
    Director
	Witness
    Name: Loic Gautier	 	 
	NRIC/PP:
    18AD97127	 	 
	Address:
    MASTERI ANH PHU B0907, 171 XA	 	 
	 	 	 
	The
    Purchaser	 	 
	 	 	 
	SIGNED
    for and don behalf of SOPA TECHNOLOGY PTE. LTD, in the presence of:	 	/s/
    Dennis Nguyen
	 	 	Name:
    Dennis Nguyen
	/s/
    Nancy Thede (signed)	 	Title:
    Director
	Witness
    Name: Nancy Thede	 	 
	NRIC/PP:	 	 
	Address:
    32 Gondoliers Bluff, Newport Coast, Ca 92657	 	 
	 	 	 
	 	 	 

 

 

    	 	15	 

     

    

 

SCHEDULE
1

DEFINITIONS
AND INTERPRETATION

 

1.
Definitions

 

In
this Agreement, unless the context otherwise requires, the following words and expressions shall

have
the following meanings:

 

"ACRA"
means the Accounting and Corporate Regulatory Authority of Singapore;

 

"Affiliate"
means, with respect to any person, another person Controlled directly or indirectly by

such
first person, Controlling directly or indirectly such first person, or directly or indirectly under

the
same Control as such first person;

 

"Assets”
mean the list of assets, including Intellectual Property, the particulars of which are set

out
in Schedule 2;

 

"Business
Day• means a day other than a Saturday or Sunday or public holiday in Singapore on

which
banks are open in Singapore for general commercial business;

 

"Confidential
Information" means:

 

(a)
any and all information relating to the provisions of, and negotiations leading to, this

Agreement;

 

(b)
any and all information in relation to any of the Parties or any of their business. assets or

affairs;

 

(c)
any and all information which relates to the business, business performance, prospective

business,
financial information or arrangements, plans or internal affairs of the Parties, any

Affiliate
or any of their respective customers (whether or not recorded in documentary form

or
on computer disk or tape or other medium). including without prejudice to the generality

of
the foregoing;

 

(d)
any and all information, Intellectual Property Rights, records and materials relating to the

business
of the Group;

 

(e)
any and all Client or customer lists, price sensitive information, technical information,

reports,
interpretations, forecasts, records, corporate and business plans and accounts,

financial
details, projections and targets, remuneration and personnel details planned

products,
planned services, marketing surveys, research reports, market share and pricing

statistics,
budgets and fee levels, the contents of any databases and business methods;

and

 

(f)
any and all trade secrets, computer passwords, commissions, commission charges,

pricing
policies and all information about research and development, the Parties' or any

Affiliate's
suppliers', customers' and clients' names, addresses (including email),

telephone,
facsimile or other contact numbers and contact names, the nature of their

business
operations, their requirements for services supplied by the Parties' or any Affiliate

and
all confidential aspects of their relationship with the Parties or any Affiliate;

 

"Completion”
means the completion of the sale and purchase of the Assets and the assignment

of
the IPRs in accordance with the terms of this Agreement;

 

"Completion
Date” means 3 Business Days from the Unconditional Date;

 

    	 	16	 

     

    

 

"Consideration”
means each amount payable in accordance with Clause 3, including the

Consideration
Shares, being the total consideration payable by the Purchaser to the Vendor for

the
sale and purchase of each Asset and the assignment of each Intellectual Property and IPRs;

 

“consideration
Shares" mean the 1500 ordinary shares of Sopa Technology Pte. ltd. (being 15%

of
its total issued and paid-up share capital on a fully diluted basis) to be issued in accordance

with
Clause 3.2 as part of the Consideration payable for the sale and purchase of Assets and the

assignment
of Intellectual Property and IP Rs;

 

“Control”
means, in respect of an entity other than a natural person, the possession. directly or

indirectly,
of the power to direct or cause the direction of the management and policies of that

entity,
through the ownership of securities representing a majority of the voting power of such

company
or otherwise, and ·controlling" and · controlled" shall be construed accordingly;

 

“Encumbrance"
means any mortgage, claim, charge (fixed or floating), pledge, lien,

hypothecation,
guarantee, right of set-off, trust, assignment, right of first refusal, right of preemption,

option,
restriction or other encumbrance or any legal or equitable third party right or

interest
including any security interest of any kind or any type of preferential arrangement (or any

like
agreement or arrangement creating any of the same or having similar effect);

 

"Group”
means the Vendor and its subsidiaries from time to time, and "Group Company·,

 

"Group
Companies", and "member of the Group• shall have a corresponding meaning;

 

"Insolvency
Event" means in relation to any entity other than a natural person:

 

(a)
any admission by such entity of its inability to pay its debts as they fall due, or the

suspension
of payment of any of its debts (other than where it is disputing such payment

in
good faith) or the announcement of its intention to do so;

 

(b)
the taking of any step by such entity with a view to a composition, moratorium, assignment

or
similar arrangement with any of its creditors;

 

(c)
the taking of any step by such entity to petition for, or to file documents with the court for,

its
winding-up, administration (whether out-of-court or otherwise) or dissolution or any such

resolution
being passed;

 

(d)
the taking of any step by such entity with a view to appointing a liquidator, trustee in

bankruptcy,
judicial custodian, compulsory manager, receiver, administrative receiver,

administrator
(whether out-of-court or otherwise) or similar officer; or

 

(e)
there occurs in relation to it or any of its assets in any relevant jurisdiction any event which

corresponds
with, or is equivalent or analogous to, those mentioned in paragraphs (a) to

(e)
of this paragraph;

 

"Intellectual
Property" means (a) patents, trademarks, service marks, logos, get-up, trade

names,
internet domain names and other internet locators referenced via any specific uniform

resource
locator, rights in designs, copyright (including rights in computer software) and moral

rights,
database rights. business processes, rights in know-how, inventions, formats, rights

protecting
trade secrets and Confidential Information and other intellectual property rights, in

each
case whether registered or unregistered and including applications for registration, and all

rights
or forms of protection having equivalent or similar effect anywhere in the world and for the

full
duration of such rights (including any extensions and renewals and rights of priority) and all

applications
and rights to apply for the protection of any of the foregoing rights; (b) rights under

licenses,
consents, orders, statutes or otherwise in relation to a right under sub-paragraph (a)

above;
(c) rights of the same or similar effect or nature as or to those in sub-paragraphs (a) and

(b)
which now or in the future may subsist; and (d) the right to sue for past, current or future

infringements
of any of the foregoing rights in each case;

 

“IPRs"
means the Intellectual Property as set out in Schedule 2 and all the rights associated

therewith;

 

    	 	17	 

     

    

 

"Legal
Assignment" means the absolute and unconditional assignment of the Intellectual

Property
and IPRs by the Vendor to the Purchaser on the terms set out in Schedule 3;

 

"Purchaser
lndemnitees• has the meaning given to it in Clause 8;

 

"Representatives•
means, in relation to a Party, its respective Affiliates and the directors, officers,

employees,
agents, advisers, accountants and consultants of that Party and/or its respective

Affiliates;

 

“surviving
Provisions” means Clauses 8 (Indemnity), 10 (Confidentiality and Announcements),

12
(Assignment), 13 (Costs), 14 (Notices), 15 (Entire Agreement), 16 (Remedies and Waiver),

18
(Successors and Assigns), 22 (Third Party Rights), 23 (Governing Law and Jurisdiction) and

Schedule
1 (Definitions and Interpretation);

 

"Transaction
Document” means this Agreement, and the Legal Assignment;

 

“unconditional
Date” has the meaning given to it in Clause 4.3;

“USS”
means the lawful currency of the United States of America; and

 

"Warranties"
means, in relation to each Party, the representations and warranties given by that

Party
as set out under Clause 6.

 

2.
Interpretation

 

In
this Agreement:

 

(a)
a reference to a statute or other legislation includes regulations and other instruments

under
it and any consolidations, amendments, re-enactments or replacements of any of

them
but excludes any re-enactment or modification after the date of this Agreement to the

extent
ii makes any Party's obligations more onerous or otherwise adversely alfect the

rights
of any Party;

 

(b)
references to "law" include any legislation, any common or customary law, constitution,

decree,
judgment, order, ordinance, treaty or other legislative measure in any jurisdiction

and
any directive, request, requirement, guidance or guideline (in each case, whether or

not
having the force of law but, if not having the force of law, compliance with which is in

accordance
with the general practice of persons to whom the directive, request,

requirement,
guidance or guideline Is addressed);

 

(c)
references to any agreement or document in this Agreement shall include references to

such
agreement or document as from time to time amended, modified, supplemented or

novated,
and to any other agreement or document which so amends, modifies,

supplements
or novates such agreement or document;

 

(d)
references to the Parties include their respective successors in title, permitted assignees,

heirs,
executors, administrators and legal personal representatives;

 

(e)
references to the singular number shall include references to the plural number and vice

versa,
and "person" includes 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,
administrative or regulatory authority or agency (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;

 

(f)
the use of any gender-specific or gender-neutral words shall Include all gender-specificor

gender-neutral
variations, including reference to gender neutral entities other than natural

persons;

 

    	 	18	 

     

    

 

(g)
"written" and "in writing" include any means of visible reproduction;

 

(h)
references to 'days• and ' months" in this Agreement means calendar days/months;

 

(i)
references to ' Recitals", 'Clauses', and 'Schedules" are to the recitals, clauses of, and

the
schedules to, this Agreement, and all references to this Agreement shall also include

the
Recitals and Schedules, which form part of this Agreement and have the same force

and
effect as if expressly set out in the body of this Agreement;

 

(j)
any reference to the words "hereof', "herein" and "hereunder'' and words of similar import

when
used in this Agreement shall refer to the d auses of or schedules to this Agreement

as
specified therein;

 

(k)
the headings in this Agreement are for convenience only and shall not affect the

interpretation
and construction hereof;

 

(I)
the words ' include', "includes and ' including• or words of similar effect are deemed to

be
followed by the words "without limitation·;

 

(m)
an obligation under this Agreement (whether express or implied) to do something includes

an
obligation to cause, procure or allow that thing to be done;

 

(n)
an obligation under this Agreement (whether express or implied) not to do something

includes
an obligation not to cause, procure or allow that thing to be done;

 

(o)
where any obligation in this Agreement is expressed to be undertaken or assumed by any

Party.
that obligation is to be construed as including a requirement that the Party

concerned
exercises all rights and powers of control over the affairs of any other person

which
that Party is able to exercise (whether directly or indirectly) in order to secure

performance
of the obligation; and

 

(p)
anything or obligation to be done under this Agreement which requires or falls to be done

on
a stipulated day. shall be done on the next succeeding Business Day, if the day upon

which
that thing or obligation to be done falls on a day which is not a
Business Day. 

 

    	 	19	 

     

    

SCHEDULE
2

THE
ASSETS

 

Part
A: IPRs

 

All
Intellectual Property of the Vendor relating to, or connected with its lifestyle e-commerce retail

business,
including the following:

 

1.
Customer Facing Cluster and source code Including:

 

a)
Rendering service

 

b)
Leflair mobile app api

 

c)
Leflair website api

 

d)
Communication with back-office via Cloud Pub/Sub

 

e)
Location service

 

f)
Product service

 

g)
Shipping service

 

h)
Best sellers

 

2.
Site data and source code/data Including:

 

a)
Sales event

 

b)
Product content

 

c)
Users storage

 

d)
Order history

 

3.
Bl server and source code/data

 

4.
Back office services and source code/data including:

 

a)
Real time stock update

 

b)
Sales order sync

 

c)
Communication with customer facing cluster with Cloud Pub/Sub

 

d)
Address sync

 

e)
Customer sync

 

f)
Leflair Content Management System

 

g)
System management services

 

h)
NetSuite connectors

 

i)
3PL services

 

 

    	 	20	 

     

    

 

5.
Third party services and source code/data Including:

 

a)
Government compliance system (BKAV)

 

b)
Parcel perform

 

c)
Payment gateways

 

d)
Warehouses (DHL, DB Schenker)

 

6.
ERP Oracle Net Suite and source/data Including:

 

a)
Stock procurement

 

b)
Order tracking

 

c)
Photography scheduling

 

d)
Financial data

 

e)
Subsidiary handling

 

f)
Customer service

 

g)
Deaf import

 

7.
Leflair Group iOS and Android mobile application(s): including the relevant source codes,

and
all Intellectual Property rights associated with such application(s).

 

8.
Leflair Group website(s): including the relevant source codes, raw media files used on the

websites,
and all Intellectual Property rights associated with such website(s).

 

9.
The Leflair Group logos, trademarks, and brand names: the following marks (whether

registered
or unregistered) and/or copyright works relating to the business by the Vendor:

 

 

    	 	21	 

     

    

 

 

 

    	 	22	 

     

    

 

 

 

    	 	23	 

     

    

 

 

    	 	24	 

     

    

 

 

 

    	 	25	 

     

    

 

 

 

    	 	26	 

     

    

 

Part
B : OTHER ASSETS

 

10.
Customer List(s): such list including the following details of each customer, as the case may be:

 

(a)
Name:

 

(b)
Email address;

 

(c)
Phone number(s);

 

(d)
Home address:

 

(e)
Birthday; and

 

(f)
Any and all other relevant information.

 

Such
customer list containing no less than 1 million unique valid registered users.

 

11.
Supplier List(s): such list including the following details of each supplier, as the case may be:

 

(a)
Name;

 

(b)
Email address:

 

(c)
Phone number(s):

 

(d)
Registered address;

 

(e)
Store address(es); and

 

(f)
Any and all other relevant information.

 

12.
Leflair Group social media account(s) including, but not limited to, Facebook, Twitter,

lnstagram,
Google, Tiktok, YouTube, and all other social media accounts: all materials as may

be
required to facilitate the effective take over and management of such social media platforms

including
but not limited to:

 

(a)
Username;

 

(b)
Password;

 

(c)
Security question answer(s);

 

(d)
Linked email address; and

 

(e)
Linked email address password.

 

13.
All drawings, manuals, documents, designs, transparencies, photos, graphics, logos,

typographical
arrangements, software, source code and object code (in machine-readable

format)
and all other materials required by Purchaser to be able to fully exploit, use, and receive

the
benefit of the IPRs, whether in hard copy or electronic form. 

 

    	 	27	 

     

    

 

SCHEDULE
3

LEGAL
ASSIGNMENT

 

This
Assignment Agreement (this "Agreement') is entered into on 16 February 2021,

 

BETWEEN

 

(1)
GOODVENTURES SEA LIMITED (Hong Kong Company Registration No. 2179136), a company

incorporated
under the laws of Hong Kong and having its registered office at 31/F., Tower Two,

Times
Square, 1 Matheson Street, Causeway Bay, Hong Kong (the "Assignor");

 

AND

 

(2)
SOPA TECHNOLOGY PTE. LTD. (UEN No. 201918025E), a company incorporated under the

laws
of Singapore and having its registered office at 11 Collyer Quay #14-06 The Arcade

Singapore
049317 {the "Assignee"),

(each
a "Party",and collectively, the "Parties"}.

 

Unless
the context otherwise requires, words and expressions defined, and interpretation set out in the

Asset
Purchase Agreement having effect from 15 February 2021 between the Parties {the "APA"), have

the
same meaning in this Agreement

 

WHEREAS

 

(A}
The Assignor agreed to sell to the Assignee certain assets, including the IPRs.

 

(B)
The Assignor has agreed to assign, and the Assignee has agreed to take an assignment of, the

IPRs
on the terms and conditions of this Agreement

 

IT
IS AGREED as follows,

 

1.
ASSIGNMENT

 

1.1
In consideration of the Parties' mutual covenants and undertakings in the APA, the Assignor

assigns
and transfers to the Assignee the IPRs (as set out in Schedule 2 of the APA, and

reproduced
herein at Schedule A} absolutely and free of any Encumbrances effective on and

from
15 February 2021, with:

 

(a)
the right to sue for past infringements and retain any damages obtained as a result of such

action;

 

(b)
titre guarantee; and

 

{c)
for the purpose of carrying on its business.

 

1.2
The Assignor shall at its own expense do and execute, or ensure the doing or execution of, all

matters,
acts, documents, deeds and things the Assignee may at any time require to vest the IPR

in
the Assignee property or otherwise to perfect the Assignee's title to them, including discharging

all
Encumbrances.

 

1.3
The Assignor shall supply to the Assignee (in a form reasonably requested by the Assignee from

time
to time and at no charge) an electronic copy of all software, documents and other information

or
materials relating to the IPRs, including without limitation, the items set out in Schedule 2 of

the
APA

 

1.4
The Assignor hereby declares and confirms that on and from 5 February 2021, it will have no

right,
title, interest, or benefit whatsoever. in, over or upon the IPRs assigned by it to the Assignee.

  

 

    	 	28	 

     

    

 

 

2.
FURTHER ASSURANCE

 

2.1
The Assignor undertakes, to the extent commercially practicable, at its own expense and at the

request
of the Assignee:

 

3.

(a)
do all acts and execute any further documents that the Assignee and/or the relevant

intellectual
property offices (of the relevant jurisdictions where Intellectual Property

protection
is sought) may reasonably require to vest the full right, title, property and interest

in
and to the IPRs in favour of the Assignee and/or to perfect the assignment of the IPRs:

and

 

(b)
assist the Assignee in obtaining, defending and enforcing the IPRs assigned hereunder

against
any third party.

 

ADDITIONAL
PROVISIONS

 

Clauses
10 to 23 of the APA shall apply, mutatis mutandis, to this Agreement

(the
rest of this page is intentionally left blank)

 

    	 	29	 

     

    

 

IN
WITNESS WHEREOF, this Agreement has been validly executed on the date first above written,

 

	The
    Assignor	 	 
	 	 	 
	SIGNED
    for and on behalf of GOODVENTURES SEA LIMITED in the presence of:	 	/s/
    Pierre-Antoine Frank Jacques Brun
	 	 	Name:
    Pierre-Antoine Frank Jacques Brun
	/s/
    Loic Gautier (signed)	 	Title:
    Director
	Witness
    Name: Loic Gautier	 	 
	NRIC/PP:
    18AD97127	 	 
	Address:
    MASTERI ANH PHU B0907, 171 XA	 	 
	 	 	 
	The
    Assignee: HA NOI, THAO DIEN, HCMC	 	 
	 	 	 
	SIGNED
    for and don behalf of SOPA TECHNOLOGY PTE. LTD, in the presence of:	 	/s/
    Dennis Nguyen
	 	 	Name:
    Dennis Nguyen
	/s/
    Nancy Thede (signed)	 	Title:
    Director
	Witness
    Name: Nancy Thede	 	 
	NRIC/PP:	 	 
	Address:
    32 Gondoliers Bluff, Newport Coast, Ca 92657	 	 
	 	 	 
	 	 	 

 

 

    	 	30	 

     

    

 

SCHEDULE
A

 

THE
IPRs

 

All
Intellectual Property of the
Vendor relating
to, or connected with
the following
:

 

1.
Customer
Facing Cluster and source code including:

 

a)
Rendering
service

 

b)
Leflair
mobile app api

 

c)
Leflair
website api

 

d)
Communication with back-office via Cloud Pub/Sub

 

e)
Location
service

 

f)
Product
service

 

g)
Shipping
service

 

h)
Best
sellers

 

2
.. Site data and source code/data Including:

 

a)
Sales
event

 

b)
Product
content

 

c)
Users
storage

 

d)
Order
history

 

3.
Bl server and source code/data

 

4.
Back office services and source code/data including:

 

a)
Real
time stock update

 

b)
Sales
order sync

 

c)
Communication
with customer facing cluster with Cloud Pub/Sub

 

d)
Address
sync

 

e)
Customer
sync

 

f)
Leftair
Content Management System

g)
System
management services

h)
NetSuite
connectors

 

i)
3PL
services

 

5.  Third
party services and source code/data including:

 

a) Government compliance system (BKAV)

 

    	 	31	 

     

    

 

b)
Parcel perform

C)
Payment gateways

d)
Warehouses (OHL, DB Schenker)

 

6.
ERP Oracle Net Suite and source/data Including:

a)
Stock procurement

b)
Order tracking

c)
Photography scheduling

d)
Financial data

e)
Subsidiary handling

f)
Customer service

g)
Deal import

 

7.
Lefla ir Group iOS and Android mobile application(s): including the relevant source codes, and all Intellectual Property rights
associated with such application(s)

 

8
Leflair Group webslte(s): including the releva nt source codes, raw media files used on the websites, and all Intellectual Property
rights associated with such website(s).

 

9
The Leflair Group logos, trademarks, and brand names: the following marks (whet her registered or unregistered ) and/or copyright
works relating to the business by the Vendor:

 

    	 	32	 

     

    

 

 

 

    	 	33	 

     

    

 

 

 

    	 	34	 

     

    

 

 

 

    	 	35	 

     

    

 

 

 

    	 	36	 

     

    

 

 

    	 	37	 

     

    

SCHEDULE
4

 

FORM
OF SHAREHOLDERS'
AGREEMENT

    	 	38

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}]]