Document:

ex-10.16

 

 LOAN AGREEMENT
 September 15, 2017
 

 Hampshire Avenue Sdn Bhd, (the “Lender”) of 156 Jalan Utama, 10450  Georgetown, P. Penang, Malaysia agrees to advance CAD$10,610 (the “Principal Sum”) to VGrab Communications Inc. (the “Borrower”) of 1130 W. Pender Street, Unit 820, Vancouver, BC V6E 4A4. The funds will be advanced on September 15, 2017 (the “Effective date”).
 

 The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 4% per year (the “Interest”) from September 15, 2017.  The Borrower is liable for repayment for the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
 

 The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
 

 	 	
	 LENDER
	 BORROWER

	 Hampshire Avenue Sdn Bhd
	 VGrab Communications Inc.

	  
	  

	 Per:
	 Per:

	  
	  

	 /s/ Ahmad Mazlanbin Ahmad
	 /s/ Lim Hun Beng

	 Name: Ahmad Mazlanbin Ahmad
	 Name: Lim Hun Beng

	 Position: CFO
	 Position: Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 PROMISSORY NOTE
 

 	 	
	 Principal Amount:  CAD$10,610
	 September 15, 2017

 

 

 FOR VALUE RECEIVED VGrab Communications Inc., (the “Borrower”) promises to pay on demand to the order of Hampshire Avenue Sdn Bhd (the “Lender”) the sum of $10,610 lawful money of Canada (the “Principal Sum”) together with interest on the Principal Sum from September 15, 2017 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.
 

 For the purposes of this promissory note, Interest Rate means 4 per cent per year. Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 4.07% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.
 

 The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.
 

 The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note.
 

 

 BORROWER
 VGrab Communications Inc.
 

 Per:
 

 /s/ Lim Hun Beng
 Name: Lim Hun Beng
 Position: Directorex-10.17

 

 LOAN AGREEMENT
 October 6, 2017
 

 Hampshire Avenue Sdn Bhd, (the “Lender”) of 156 Jalan Utama, 10450  Georgetown, P. Penang, Malaysia agrees to advance CAD$10,610 (the “Principal Sum”) to VGrab Communications Inc. (the “Borrower”) of 1130 W. Pender Street, Unit 820, Vancouver, BC V6E 4A4. The funds will be advanced on October 6, 2017 (the “Effective date”).
 

 The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 4% per year (the “Interest”) from October 6, 2017.  The Borrower is liable for repayment for the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
 

 The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
 

 	 	
	 LENDER
	 BORROWER

	 Hampshire Avenue Sdn Bhd
	 VGrab Communications Inc.

	  
	  

	 Per:
	 Per:

	  
	  

	 /s/ Ahmad Mazlanbin Ahmad
	 /s/ Lim Hun Beng

	 Name: Ahmad Mazlanbin Ahmad
	 Name: Lim Hun Beng

	 Position: CFO
	 Position: Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 PROMISSORY NOTE
 

 	 	
	 Principal Amount:  CAD$10,610
	 October 6, 2017

 

 

 FOR VALUE RECEIVED VGrab Communications Inc., (the “Borrower”) promises to pay on demand to the order of Hampshire Avenue Sdn Bhd (the “Lender”) the sum of $10,610 lawful money of Canada (the “Principal Sum”) together with interest on the Principal Sum from October 6, 2017 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.
 

 For the purposes of this promissory note, Interest Rate means 4 per cent per year. Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 4.07% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.
 

 The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.
 

 The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note.
 

 

 BORROWER
 VGrab Communications Inc.
 

 Per:
 

 /s/ Lim Hun Beng
 Name: Lim Hun Beng
 Position: Directorex-10.18

 

 LOAN AGREEMENT
 December 13, 2017
 

 Hampshire Avenue Sdn Bhd, (the “Lender”) of 156 Jalan Utama, 10450  Georgetown, P. Penang, Malaysia agrees to advance CAD$10,605 (the “Principal Sum”) to VGrab Communications Inc. (the “Borrower”) of 1130 W. Pender Street, Unit 820, Vancouver, BC V6E 4A4. The funds will be advanced on December 13, 2017 (the “Effective date”).
 

 The Borrower agrees to repay the Principal Sum on demand, together with interest calculated and compounded monthly at the rate of 4% per year (the “Interest”) from December 13, 2017.  The Borrower is liable for repayment for the Principal Sum and accrued Interest and any costs that the Lender incurs in trying to collect the Principal Sum and the Interest.
 

 The Borrower will evidence the debt and its repayment of the Principal Sum and the Interest with a promissory note in the attached form.
 

 	 	
	 LENDER
	 BORROWER

	 Hampshire Avenue Sdn Bhd
	 VGrab Communications Inc.

	  
	  

	 Per:
	 Per:

	  
	  

	 /s/ Ahmad Mazlanbin Ahmad
	 /s/ Lim Hun Beng

	 Name: Ahmad Mazlanbin Ahmad
	 Name: Lim Hun Beng

	 Position: CFO
	 Position: Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

 PROMISSORY NOTE
 

 	 	
	 Principal Amount:  CAD$10,605
	 December 13, 2017

 

 

 FOR VALUE RECEIVED VGrab Communications Inc., (the “Borrower”) promises to pay on demand to the order of Hampshire Avenue Sdn Bhd (the “Lender”) the sum of $10,605 lawful money of Canada (the “Principal Sum”) together with interest on the Principal Sum from December 13, 2017 (“Effective Date”) both before and after maturity, default and judgment at the Interest Rate as defined below.
 

 For the purposes of this promissory note, Interest Rate means 4 per cent per year. Interest at the Interest Rate must be calculated and compounded monthly not in advance from and including the Effective Date (for an effective rate of 4.07% per annum calculated monthly), and is payable together with the Principal Sum when the Principal Sum is repaid.
 

 The Borrower may repay the Principal Sum and the Interest in whole or in part at any time.
 

 The Borrower waives presentment, protest, notice of protest and notice of dishonour of this promissory note.
 

 

 BORROWER
 VGrab Communications Inc.
 

 Per:
 

 /s/ Lim Hun Beng
 Name: Lim Hun Beng
 Position: DirectorEX-10.1

 Exhibit 10.1 

Annual Incentive Payment Criteria for Executive Officers 

(Effective for Awards in 2018 in Respect of 2017 and for Subsequent Years) 

Annual Incentives for executive officers, including the CEO, are primarily based on an assessment of Company performance relative to key financial objectives.
Each senior executive has an annual incentive target. A performance factor is applied to each of their targets to generate their initial annual incentive award. 

An initial performance factor is determined under the annual incentive program using three equally-weighted performance metrics: (i) earnings per share,
or EPS, on an adjusted operating income (AOI) basis, measured relative to the Company’s EPS guidance range, (ii) growth in EPS, measured year-over-year, and (iii) return on equity, or ROE, relative to the median ROE of the North
American Life Insurance subset of the compensation peer group. 
 These reported financial metrics are adjusted for certain items to more appropriately
reflect the operating performance of the Company’s businesses and to take into account certain financial market performance factors relative to the assumptions used in establishing the Company’s performance targets. Items excluded from the
reported AOI data include: 
  

	 	1.	Market unlocks. 

  

	 	2.	Actuarial assumption updates. 

  

	 	3.	Merger and acquisition activity including divestitures, integration and one-time costs. 

  

	 	4.	Accounting changes not included in guidance. 

  

	 	5.	AOI on specified classes of non-coupon investments outside of a range of -10% to +10% of the earnings on these investments that are
included in the Company’s EPS guidance range. 

  

	 	6.	Other items not considered representative of the results of operations for the period or not included in guidance. 

The Committee may exercise negative discretion to reduce the performance factor based on such considerations as: 

 

	 	•	 	Risk and compliance performance. 

  

	 	•	 	Credit and insurance rating downgrades. 

  

	 	•	 	Adequacy of capital ratios. 

 Finally, the Committee may consider additional quantitative and qualitative
considerations to determine the final performance factor, including: 
  

	 	•	 	Business drivers, i.e., net flows, sales growth, persistency, etc. 

	 	•	 	Employee measures, including employee engagement survey results, talent management and diversity. 

  

	 	•	 	Other considerations such as share price performance for the year and projected changes in peer pay levels. 

The primary driver of the actual annual incentive awards made to the executive officers is the final performance factor. The Committee considers individual
performance and contributions in determining the final award. Awards are subject to the Company’s “Clawback” Policy. 
 If an executive
retires or in certain other cases of termination of employment, the Committee may award an annual incentive payment to the executive for contributions during the year in which the executive’s employment ended. 

* * * * 
 “Adjusted operating income”,
or “AOI”, referred to above, differs from, and should not be viewed as a substitute for, income from continuing operations or net income determined in accordance with generally accepted accounting principles, but is the financial measure
that the Company uses to analyze the operations of each segment in managing its businesses. EPS referred to above is determined on the basis of after-tax AOI. ROE referred to above is determined on the basis
of after-tax AOI divided by average equity. Average equity excludes accumulated other comprehensive income, the cumulative effect of foreign currency exchange rate remeasurement, and currency translation
adjustments corresponding to realized investment gains and losses.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]