Document:

Exhibit 10.4

 

GLOBAL SOURCING AND PURCHASE AGREEMENT

 

This GLOBAL SOURCING AND PURCHASE AGREEMENT
(the "Agreement") is made this [ ] day of [ ] 2021, by and between Foremost Worldwide Co. Ltd. ("FWW") and FGI Industries,
Ltd. ("FGI").

 

WHEREAS, FWW is engaged in the manufacture,
distribution and export of products including, but not limited to, wooden furniture, cabinetry and shower systems for the bath and kitchen
markets (hereinafter referred to as "Products");

 

WHEREAS, FGI is engaged in the worldwide
sales, marketing and distribution of products including, but not limited to, wooden furniture, cabinetry and shower systems for the bath
and kitchen markets and would like to engage FWW as a sourcing agent for its Products; and

 

WHEREAS, FWW agrees to source and sell
Products to FGI on the conditions and terms set out in this agreement;

 

NOW THEREFORE, in consideration of the
promises and releases contained herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged,
the parties agree as follows:

 

	1.	Services:

 

FGI hereby
appoints and FWW agrees to act as FGI’s sourcing agent for the Products on a worldwide basis (hereinafter “Territories”).
FWW shall provide FGI with the following services:

 

		a)	FWW shall find, source and/or provide factories/manufacturers for the production
of Products specified and requested by FGI, as highlighted under Exhibit A;

 

		b)	FWW shall negotiate on behalf of FGI the cost of production, prepayments, shipping
and any other elements as necessary for the production and delivery of Products specified by FGI either directly to FGI or to FGI’s
customers. For the avoidance of doubt, FWW and FGI agree that the terms negotiated by FWW on behalf of FGI are not binding upon FGI unless
and until FGI enters into any binding written agreement with the third party;

 

		c)	FWW shall inspect the merchandise before it is shipped to FGI or destinations required
by FGI to ensure the quality, performance, specifications, and quantity of products meet the requirements and standards of FGI which will
not be less than industry standard (hereinafter “Quality Control” or “QC”); and

 

		d)	FWW shall prepare relevant shipping documentation and shipping information to FGI
as it pertains to Products that have
been approved and ordered by FGI.

 

		e)	All pricing associated with any manner of services described in this Section shall
be invoiced, ordered, or otherwise in the form of United States Dollars (“USD”).

 

     

     

    

 

	2.	Representations:

 

FWW represents and warrants to
FGI that FWW:

 

		a)	is a corporation duly organized, validly existing and in good standing under the
laws of Hong Kong SAR;

 

		b)	has all requisite corporate power and authority to carry on its business as it is
now being conducted;

 

		c)	has all requisite corporate power and authority to execute, deliver and perform
its obligations under this Agreement and to consummate the transactions contemplated hereby, and the execution and consummation of this
Agreement shall not violate the charter documents of FWW, or any other commitment or agreement to which FWW is a party; and

 

		d)	to the best of its knowledge, entry in this Agreement, and its performance hereunder,
does not and shall not violate any law, statute or regulation or any contractual obligation of FWW; and (iv) FWW has the requisite skill,
competence and resources to carry out its obligations under this Agreement.

 

		e)	shall not commit any act or do anything which might reasonably be considered:
(i) to be immoral, deceptive, scandalous or obscene; or (ii) to injure, tarnish, damage or otherwise negatively affect the reputation
and goodwill associated with FGI and any of its affiliates.

 

FGI represents
and warrants to FWW that FGI:

 

		a)	has the full right, power and authority to enter into this Agreement;

 

		b)	has been duly authorized to enter into this Agreement in accordance with its operating
agreement and bylaws; and

 

		c)	to the best of its knowledge, entry in this Agreement, and its performance hereunder,
does not and shall not violate any law, statute or regulation or any contractual obligation of FGI.

 

	3.	Limitation of Liability and Indemnification: 

 

FWW
agrees to indemnify and hold harmless FGI and its directors, officers, employees and representatives from and against all losses, penalties,
damages (but not any punitive damages), liabilities, suits, claims and expenses (including without limitation reasonable outside attorneys’
fees) arising out of or in connection with third party claims against FWW for any breach by FWW of any of its representations, warranties
or covenants in this Agreement, provided that FGI gives FWW prompt written notice of all claims and/or suits to which this indemnification
applies. Upon notice to FGI that FWW is responsible for the
entire third party claim or suit, FWW shall have the option to undertake and solely control the defense and/or settlement of any such
third party claim or suit at FWW’S cost and expense. FGI shall cooperate with FWW in the defense of any such claims and/or suits,
and both parties shall act to mitigate any damage arising out of or related to such claims and/or suits.

 

     

     

    

 

	4.	Payment and Commissions:

 

		a)	FGI agrees to pay FWW a commission for services rendered under this Agreement. The
commission rate shall be set forth in Exhibit B for the Products which FWW services for FGI as specified in the Section 1 of this
Agreement. This rate will be reviewed and/or revised by FGI and FWW annually.

 

		b)	All commissions shall be computed on the basis of the "FOB" of the sales
(“FOB Sales”) in USD, defined as the quantity sold at the accepted order price, including charges for freight, shipping, taxes,
insurance, and minus the application of any prompt payment discounts, other discounts, returns, cost of display, store set up, return
freight, and other allowances or bad debts.

 

		c)	FGI shall not be liable to FWW for any commission upon FOB sales that are lost or
delayed for any cause.

 

		d)	It is agreed by the Parties that FWW shall provide the Product pricing and once
confirmed by FGI, that price will be fixed and agreed between FGI and FWW unless a price revision is recognized and confirmed by FGI in
writing. FGI shall remit payment to FWW for commission earned within fourteen (14) calendar days after FGI receives the Products.

 

		e)	FWW shall agree that FGI may deduct payment from its service commission to FWW for
any quantity shortage, shipment delay, or incorrect packaging of merchandise until any dispute is resolved.

 

		f)	In the event that FGI disputes the amount of any commission owed to FWW, FGI shall
remit payment to FWW for the undisputed portion of the commission owed to FWW and provide written notice to FWW that it disputes the amount
of the commission owed to FWW and the reason for such dispute ("Commission Dispute Notice"). The Parties agree that upon FWW’s
receipt of a Commission Dispute Notice, that both Parties shall negotiate in good faith regarding the disputed commission and that FGI
shall not be obligated to pay the disputed portion of any commission, or any interest thereon, unless and until FGI and FWW mutually agree
to the proper amount of the commission owed by FGI to FWW subject to any agreed-upon adjustments.

 

		g)	With respect to any special/custom products which may demand more work for FWW
                                                               in the ordinary course of business (“Specialty Products”), FWW and FGI agree to a negotiate a different commission rate
                                                               which shall be applied to the Specialty Products without affecting any Products specified under this Agreement. For the avoidance of
                                                               doubt, written approval by FWW and FGI
shall be required to such effectuate any change in commission for Specialty Product orders.

 

     

     

    

 

	5.	Term of the Agreement:

 

		a)	The term of this Agreement shall be for a period of one year commencing on the date
of execution of this Agreement (the "Term").

 

		b)	Unless terminated within sixty (60) days, this Agreement shall be automatically
renewed for an additional Term upon every anniversary day of this Agreement.

 

	6.	Termination of the Agreement:

 

		a)	This Agreement may be terminated by either FWW or FGI by giving a written notice
to the other party 60 (sixty) days prior to the proposed termination date.

 

		b)	If FWW enters into a similar Agreement with another party whom FGI deems to be a
competitor, FGI retains the right to terminate this Agreement immediately and without notice.

 

		c)	FGI retains the right to enter into a similar Agreement with another party whom
FWW deems to be a competitor. In such an event, FWW maintains the right to the terminate this Agreement in accordance with the provisions
of 6a.

 

	7.	Governing Law:

 

This Agreement shall be governed
and construed in accordance with the laws of the State of New Jersey, United States of America.

 

	8.	Miscellaneous:

 

		a)	Exclusive jurisdiction: For the purpose of any action that may be brought
in connection with this Agreement, FWW and FGI hereby consent to the exclusive jurisdiction and venue of the United States District Court
for the District of New Jersey and waive the right to contest the jurisdiction and venue of said court on the ground of inconvenience
or otherwise and, further, waive any right to bring any action or proceeding in connection with this agreement in any court other than
the United States District Court for the District of New Jersey.

 

		b)	Counterparties: This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument and facsimile copies
shall be deemed originals for all purposes.

 

		c)	Notices: All notices that are required or may be given pursuant to the terms
of this Agreement shall be in writing and delivered by hand or national overnight courier service, sent by facsimile transmission,
sent via electronic-mail to a respective Party’s address, or mailed by registered or certified mail, postage prepaid, to the addresses
designated by either Party hereto. A notice shall be deemed to have been given (i) upon personal delivery, if delivered by hand or courier,
(ii) three business days after the date of deposit in the mails, postage prepaid, if mailed by certified or registered mail, or (iii)
the next business day if sent by facsimile transmission or electronic mail (if receipt is electronically confirmed).

 

     

     

    

 

		d)	Entirety: This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral and written,
among the parties hereto with respect to the subject matter hereof. No representation, warranty, promise, inducement or statement of intention
has been made by any party that is not embodied in this Agreement or such other documents, and none of the parties shall be bound by,
or be liable for, any alleged representation, warranty, promise, inducement or statement of intention not embodied herein or therein.

 

		e)	Assignments and Successors: This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective permitted successors and assigns. Notwithstanding anything contained in this
Agreement to the contrary, nothing in this Agreement, express or implied, is intended to confer on any person or entity other than the
parties hereto or their respective permitted successors and assigns, any rights, remedies, obligations or liabilities under or by reason
of this Agreement. This Agreement may not be assigned by either party without the prior written consent of the other party.

 

		f)	Independent Contractor: FWW is and shall be construed as an independent contractor.
Nothing contained in this Agreement shall be construed as creating a joint venture, partnership, employee/employer relationship, association
or formal or informal business organization by and between the parties.

 

		g)	Confidentiality: FWW shall maintain strict confidentiality with respect to
any and all information, whether in writing, oral or otherwise, concerning FGI or Products developed specifically for FGI or ordered by
FGI, with respect to the nature and extent of the mutual business relationship as well as with respect to the commercial and manufacturing
secrets of FGI, and shall not make any such information available to third parties, including this Agreement and any of its terms. FWW
shall take measures to ensure that its employees also adhere to this confidentiality obligation. FWW hereby acknowledges that any breach
or attempted breach of this Section by FWW or its owners, shareholders, directors, officers, employees, agents or representatives shall
result in irreparable harm to FGI for which a remedy at law shall be inadequate. In case of any breach or attempted breach of this Section
by FWW or its owners, shareholders, directors, officers, employees, agents or representatives, FGI shall be entitled to, in addition to
any other remedies to which FGI may be entitled, specific performance and injunctive and other equitable relief without the necessity
of proof of irreparable harm or posting of bond.

 

		i)	Amendments: This Agreement may only be amended, varied or supplemented by
an instrument in writing, signed by
the parties hereto.

 

     

     

    

 

IN WITNESS WHEREOF, these presents have been executed by authorized
signatories for and

 

on behalf of the parties hereto on the day and year first before written.

 

	 	 
	FOREMOST WORLDWIDE CO. LTD	 

 

	 	 
	FGI INDUSTRIES, LTD.	 

 

     

     

    

 

Exhibit A

 

Products sourced by FWW and sold to FGI include:

 

		·	Bath Furnishings: this includes, but is not limited to, vanities,
mirrors, cabinetry, shelving and storage products typically produced for the bathroom space.

 

		·	Kitchen Furnishings: this includes, but is not limited to, cabinetry,
shelving and storage products typically produced for the kitchen space.

 

     

     

    

 

Exhibit B

 

	Product Category	Commission Rate
	Bath Furnishings	2.5% of FOB Sales
	Kitchen Furnishings	2.5% of FOB SalesExhibit 10.5

 

SALES
 & PURCHASE AGREEMENT

 

This is an AGREEMENT made this [ ] day of [ ] 2021, by and between
FGL International, Ltd. (hereinafter referred to as "FGII") and Foremost Groups Ltd. (including its various subsidiaries, hereinafter
referred to as "FGL").

 

WHEREAS FGII is engaged in the export of bathroom sanitaryware, home
furnishings and other products (hereinafter referred to as "Products" as detailed in Appendix A) and FGL is engaged in
the sale of such Products;

 

WHEREAS FGII desires to sell its Products to FGL and FGL desires to
purchase such Products from FGII in accordance with the terms and conditions set out in this Agreement;

 

NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and in consideration of the mutual covenants set forth herein, the parties agree as follows:

 

 

		1.	Orders

 

		1.1	Orders for Products (“Product Orders”) shall be binding once these have been placed by FGL and confirmed by FGII.

		1.2	Product Orders should only be passed on to subcontractors with the approval of FGL. In such an event FGII shall be liable for the
deliveries of its subcontractors in the same manner as if the deliveries were made by itself. FGII shall also be liable for adherence
to the provisions of Section 4 - 6.

 

		2.	Prices and Payment Terms

 

		2.1	The prices for Products sold by FGII to FGL are based on an agreed mark-up percentage over and above FGII’s purchase cost of
the Products (herein referred to as a “Mark-Up”) as detailed in Appendix A.

		2.2	In instances where the Mark-Up may not be appropriate, FGL and FGII may negotiate to mutually-acceptable terms.

		2.3	The payment of the invoices by FGL shall be performed within the payment term(s) specified in the Product Orders or as agreed to between
the respective parties. Other terms and conditions of payment, in particular down payments and advance payments, shall be subject to express
written agreement.

 

		3.	Delivery

 

		3.1	The agreed delivery deadlines of FGII Products to FGL shall be binding. Should FGII anticipate that delivery within the set deadline
is not possible, FGII must notify FGL of the situation without delay, specifying the reasons and the likely duration of the delay (such
notification henceforth referred to as “Notification”).

		3.2	FGL shall be entitled to respond to this Notification by withdrawing from the individual order and reserving the rights to claim
                                                                damages in the event that the delay is not caused by FGL. Should FGL not respond to the Notification made by FGII, such silence
                                                                shall not be taken as implicit approval of the postponement of the delivery deadline and/or the waiving of the rights specified
                                                                under Section 3.2. Should FGII fail to adhere to the agreed delivery deadlines, FGL shall be entitled either to refuse the delayed
                                                                delivery or to insist upon the delivery being made.

 

     

     

    

 

		3.3	Partial or advance deliveries as well as over or under deliveries shall only be permitted with the express approval of FGL. The deliveries
must be performed in the packaging and format required by FGL.

 

		4.	Guarantees and Defectives 

 

		4.1	FGII shall guarantee the following to FGL:

		a)	That the delivered Products do not contain any material defects which diminish their value or their suitability for the intended purpose;

		b)	That the delivered Products possess the warranted qualities and the contractually-agreed upon specifications; and

		c)	Furthermore that the delivered Products comply with all relevant regulatory and legal requirements within the relevant jurisdictions
within which such Products are sold.

		4.2	FGL shall generally examine the delivered Products within fourteen (14) days of the delivery (“Inspection Period”) in
order to ascertain that Products conform to the expectations of the Product Order. In the event of there being a public holiday, this
deadline shall be extended accordingly. Should FGL ascertain defects to the delivered Products (“Defective Products”) during
the Inspection Period, FGL shall notify FGII of such fact without delay and shall assert such rights as it is entitled to under this Section.
In the case of deliveries made direct to its customers, FGL shall be entitled to cause these checks to be performed prior to dispatch
or to delegate these to the customers concerned.

		4.3	In the event of there being Defective Products, and the quantity of the Defective Products is more than the percentage of defective
allowance granted by FGII to FGL, FGL shall be entitled to, within a reasonable amount of time (such time to be determined by both parties
and to be referred to as a “Cure Period”):

		A)	request that such Defective Products be replaced by goods of contractual quality within a Cure Period;

		B)	request that the defects be rectified within a Cure Period; or

		C)	demand that the original Product Order be cancelled should FGII be unable to rectify the defects within a Cure Period.

		4.4	Should FGII fail to render the performances specified under Section 4.3 subsection A or B, FGL shall be entitled, at the expense of
FGII, to procure replacement goods from a third-party source or to cause the defects to be rectified by itself or a third party.

		4.5	In all the cases mentioned under Section 4.3 the right to enforce claims for damages shall remain reserved by FGL.

		4.6	The conditions of this Section apply to Defective Products which are not discovered during the Inspection Period for up to one (1)
year starting from date when the Products were delivered to FGL.

		4.7	FGII's guarantees under this Section shall extend to cover any and all Products produced and/or delivered by its subcontractors.

		4.8	Any rejected Products returned to FGII by FGL must be destroyed by FGII.

 

		5.	Intellectual Property Rights

 

		5.1	All intellectual property rights relating to the Products solely developed by FGL or developed in collaboration with FGII exclusively
for FGL shall be the exclusive property of FGL. FGII shall not develop, offer or sell any Products that make use of the intellectual property
rights belonging to FGL.

		5.2	FGL shall decide whether its intellectual property rights are to be registered with the responsible authorities. In the event of registration,
this shall be performed by FGL, whereby FGII shall, if necessary and through mutual agreement of
the parties, provide support.

 

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		6.	Confidentiality

 

FGII shall commit to maintaining confidentiality with respect
to Products developed specifically for FGL or ordered by FGL, and shall not make any confidential information available to any third parties.
FGII shall take measures to ensure that its employees also adhere to this confidentiality obligation.

 

		7.	Termination of this Agreement

 

		7.1	Both parties shall reserve the right to terminate the Agreement upon 90 days of notice to the respective counterparty for any reason
whatsoever provided that such notice be provided in the form of either electronic mail or general post;

		7.2	Cessation of payment by FGL, or the initiation of bankruptcy proceedings against the assets of FGL shall entitle FGII to terminate
the business relationship with immediate effect;

		7.3	FGL shall be entitled to terminate this Agreement with immediate effect should FGII violate terms of Sections 5 and 6 of this Agreement

		7.4	In the event of this Agreement between FGL and FGII being terminated for any reason whatsoever, FGII shall be obliged:

 

		a)	not in any manner or form to use the brand names or trademarks owned by FGL;·
		b)	to surrender to FGL all products and intermediary materials still available which have been marked with the brand names or trademarks
owned by FGL; or

		c)	at the discretion of FGL to surrender or to destroy the tools, patterns etc. required for the application of FGL’s intellectual
property as it relates to the Products covered under this Agreement.

 

		8.	Term of this Agreement

 

The duration of this Agreement shall be one (1) year from
the date of signature by both FGL and FGII. This Agreement would however be automatically renewed every year upon the anniversary date
of this Agreement if this Agreement is not terminated in accordance with Section 7 of this agreement. The obligations arising out of this
Agreement, in particular Section 5 – 7, shall continue to remain in force even after the termination of this Agreement.

 

		9.	Governing Law

 

This Agreement shall be governed by and construed in accordance
with the laws of the State of New Jersey, without reference to its conflict of law rules. The parties hereby consent and submit to the
exclusive jurisdiction of the state and federal courts within New Jersey.

 

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IN WITNESS WHEREOF, these presents have been executed by authorized
signatories for and on behalf of the parties hereto on the day and year first before written.

 

	 	 
	Foremost Groups, Ltd.	 
	 	 
	 	 
	FGI International, Ltd.	 

 

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Appendix A

 

 

	Products	 	Percentage*	 
	Vitreous China products (toilets, sinks, ceramics, etc)	 	 	2.5	%

 

 

 

*Percentage based on a mark-up above and beyond the purchase costs
of FGII for the relevant Product to be sold to FGL. 

 

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