Document:

Exhibit 10.2

 

AGREEMENT ESTABLISHING 

 

A STRATEGIC ALLIANCE

 

Between

 

PARETEUM CORPORATION

 

And

 

ARTILIUM PLC

 

October 16, 2017

 

    	 	 	 1 / 14

     

    

 

		1	Parties

 

This Strategic Alliance Agreement
(“Agreement”) is made and entered into on October 16, 2017 (the “Effective Date”), between:

 

		(A)	Pareteum Corporation, a company duly incorporated under the laws of Delaware, USA, with
its principal office at 100 Park Avenue, New York, USA (hereinafter referred to as "Pareteum"), and

 

		(B)	Artilium PLC, a company duly incorporated under the laws of England & Wales, with its
principal office at 9-13 St Andrew Street, London, UK (hereinafter referred to as "Artilium").

 

Pareteum and Artilium are each hereinafter
also referred to as a "Party" and, together, as the "Parties".

 

		2	Definitions

 

The terms and expressions
set out below shall have the following meaning:

 

“Affiliate” means
a company or other legal entity which controls, is controlled by, or under common control with a Party to this Agreement, but any
such company or other legal entity shall be deemed to be an Affiliate only as long as such control exists, and for the purposes
of this definition, "control" shall mean direct or indirect ownership of more than fifty percent (50%) of the voting
rights of the controlled or commonly controlled entity.

 

“Appendix” means
an appendix to this Agreement.

 

“Agreement” means
this Strategic Alliance Agreement and all its Appendices.

 

“Customer” means
a third party prospective customer to which the Solutions will be co-marketed, sold and delivered - pursuant to this Agreement.

 

“Effective Date”
means the date written above on the first page.

 

“NDA” means the
mutual Non-Disclosure Agreement entered between the Parties and effective October 13, 2017.

 

“Opportunity Registration
Form” means a document identifying a Customer for a Project which will be agreed and executed between the Parties in
a form similar to Appendix 3.

 

"Projects" means the
proposed deployment of any one or more (or a combination) of the following technological solutions:

 

(1) Pareteum’s (a) Managed
Services Platform; (b) Global Mobility Cloud Platform; and/or (c) Application Exchange Platform, including as appropriate its full
MVNE/MVNA/MVNx capabilities, API suites, HLR-as-a-Service and Internet-of-Things connectivity solutions (the “Pareteum
Solutions”); and

 

(2) Artilium’s ARTA® solution
suites, including ARTA AAA, ARTA BILL, OneApp, and real-time session control, rating, usage monitoring and billing of voice, sms,
mms, data sessions and mobile payments for prepaid and postpaid offerings (the “Artilium Solutions”).

 

    	 	 	 2 / 14

     

    

 

Which together may be referred to
as the “Solutions”.

 

“Project Agreement”
means a contract to be concluded between the Parties during the preparation phase of a Project for a Customer.

 

“Territory” means
the continent of South America, Asia and Africa, and such other jurisdictions anywhere in the world as may be agreed between the
Parties in writing from time to time.

 

In addition to the above, defined
terms and expressions in the Appendices and elsewhere in this Agreement shall apply. Definitions may be used in the singular or
plural.

 

		3	Scope

 

		3.1	The Parties desire to set forth the general terms upon
which they shall cooperate to jointly market, bid, offer and sell from time to time in respect of future commercial opportunities
to supply their own and each other’s Solutions through exploiting Projects with potential new Customers in the Territory.

 

		3.2	Each Party will use all reasonable efforts to win business with new Customers for Projects in the
Territory in accordance with the terms and conditions specified herein and in each Opportunity Registration Form.

 

		3.3	Either Party may from time to time be a principal or ‘prime’ contractor vis-à-vis
one or more Customers and may appoint the other Party as a joint- or sub- contractor. In bidding for a Project opportunity, the
Parties will determine on a case by case basis which of the Parties will act as the prime contractor and which will have joint-
or sub-contractor responsibility.

 

		3.4	A Party may choose to pursue Customers in the Territory alone or in conjunction with another party
without the involvement of the other Party, provided that neither Party shall circumvent the other Party in respect of a potential
Customer where an Opportunity Registration Form or a Project Agreement have been executed, or where both Parties have agreed to
cooperate pursuant to this Agreement.

 

		4	AppendiCes
                                         to the AGREEMENT

 

This Agreement consists of this
document and the Appendices listed below, which shall constitute and form an integral part of the Agreement:

 

	Appendix 1	Commercial Framework
	Appendix 2	Non-Disclosure Agreement
	Appendix 3	Opportunity Registration Form

 

In case of conflicts or inconsistencies,
this document will prevail over the Appendices unless an Opportunity Registration Form expressly states otherwise or a Project
Agreement has been executed which will supersede this Agreement in respect of a specific opportunity only.

 

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		5	POTENTIAL OPPORTUNITIES

 

		5.1	The Parties may in their discretion, exchange technical,
commercial and/or sales and marketing information including sales leads, information about market opportunities and competitor
activity relating to Projects. The Parties will also share such information as may reasonably be required in order to enable the
other Party to understand and co-market or co-sell the Solutions of the other Party to Customers.

 

		5.2	The Parties further agree to collaborate closely and in good faith on customer RFPs, RFIs and demonstrations
and to provide reasonable access to each other’s technological Solutions and systems in the course of such customer demonstrations.

 

		5.3	Neither Party shall use or issue material referring to or describing the other Party or the other
Party’s Solutions, products, processes or services or technology without that Party’s prior written approval of the
material to be used or issued and the use and context in which the material is to be used or issued, and the third party(-ies)
to which it is proposed to be disclosed.

 

		6	Individual Project Agreements AND JOINT PROPOSALS

 

		6.1	The Parties agree that each new Project will be subject to an individual Project Agreement between
Artilium and Pareteum. Parties will negotiate such Project Agreement(s) in good faith and in accordance with principles of this
Agreement, unless otherwise agreed by the Parties.

 

		6.2	The operational and technical support responsibilities for each Project and/or Customer will be
stipulated in each Opportunity Registration Form.

 

		6.3	The overall commercial and financial arrangements for this Agreement are described in Appendix
1 (Commercial Framework) which will be further particularised in each Opportunity Registration Form (Appendix 3).

 

		6.4	Each Party agrees that when it has identified a specific Project which it would like to pursue
jointly, pursuant to this Agreement, that it will notify the other Party by written notice including the information stipulated
in Appendix 3 (Opportunity Registration Form) (a “Notice”) describing in as much detail as possible the proposed
Project and the identity of the Customer.

 

		6.5	The Party receiving the Notice must respond in writing and sign the Notice within seven (7) business
days confirming that it agrees to participate in the Project. After mutually executing the Opportunity Registration Form, the Parties
will negotiate the Project Agreement in good faith in accordance with the principles of this Agreement and the Opportunity Registration
Form.

 

		6.6	Once either Party issues an Opportunity Registration Form, if the other Party does not wish to
participate jointly in such Project, it shall be precluded from competing in that Project, unless the receiving Party was already
aware of that Project and had made efforts to participate in such Project itself (“Prior Participation”).

 

		6.7	The Parties commit themselves, upon execution of an Opportunity
Registration Form to negotiating and concluding a detailed and final Project Agreement. Furthermore,
Parties hereto shall immediately commence good faith negotiations of a contract (hereinafter, consistent with the terms of this
Agreement, encompassing each Party’s proposed services and deliverables for the Services and other appropriate tasks required
by the prime contract. The Contract will be based upon a full back-to-back principle for the respective rights and obligations
of the parties. The Contract shall include, amongst other appropriate provisions, those provisions concerning each Party’s
responsibilities, liability and limitation hereof, terms or conditions pertaining to their respective services

 

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		6.8	Project Agreements concluded pursuant to this Agreement shall stipulate, among other things: (i)
which Party will take the lead in preparing and submitting any appropriate proposal, RFP and/or tender documentation; (ii) which
Party will be the prime or principal contractor and which Party will take a joint or sub-contracting responsibility; (iii) which
Party is responsible for which aspects of which of the Solutions or Project (in accordance with Appendix 3); (iv) commercial and
financial provisions (in accordance with Appendices 1 and 3); (v) the standard terms and conditions of supply of Solutions to the
Customer; as well as if applicable (vi) a price list of Solutions and other terms and conditions governing the same.

 

		6.9	In support of this effort, the Parties agree to provide each other with such assistance as may
be reasonably requested of either of them by the other in the preparation and submission of proposals/RFPs/tenders etc. and in
securing the award of resulting Projects to the Parties. In particular Parties will cooperate on those matters relating to the
supply of the Parties’ respective Solutions and within the Parties’ specialisms as follows:

 

		(a)	to appoint qualified personnel to interact with the other Party and/or Customer regarding pre sales
activities and receipt of product or technical information. Parties warrant that such appointed personnel shall adhere to any security
regulations and security directives issued by the other Party and/or Customer from time to time with respect to said commercial,
product or technical information.

 

		(b)	to provide each other with such assistance as may be required during the pre-proposal, proposal
and post-proposal stages;

 

		(c)	to furnish each other with materials for the Proposal/RFP, including without limitation manuscripts, graphic materials, engineering
design, price options, and other required supporting materials;

 

		(d)	to ensure availability of qualified management and technical personnel during the pre-proposal,
proposal and post-proposal stages;

 

		(e)	to submit management, technical and price presentation or proposal materials and clarifications
within the time frames jointly agreed  between the parties.

 

		6.10	The prime Party shall have overall editorial control
of any sales proposal(s) and shall be responsible for submission of the same to the Customer. The supporting Party will be entitled
prior to submission to review, evaluate and comment on any such joint Proposal to the extent that it relates to the works to be
performed by either Party and shall exercise joint control on the form and content of the Proposal to the extent that it relates
to the same.

 

		6.11	For purposes of facilitating communication with the Customer
in respect of matters pertaining to a Proposal, the Customer’s response to the Proposal or the negotiation and preparation
of a contract, the prime Party will be the primary interface to the Customer and will manage communication between the bidding
team and the Customer.

 

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		6.12	The prime Party will notify the supporting Party as soon as possible of the receipt by the prime
Party of a written acceptance or refusal by the Customer of a Proposal.

 

		6.13	Except where otherwise agreed in writing, each Party shall bear all its own expenses incurred in
connection with preparing joint Proposals/RFP, the negotiations which follow, and all other efforts resulting from the issue of
the Proposals/RFP (including the award and finalising of contracts).

 

		6.14	It is agreed between the Parties that in case a Customer rejects or does not wish to procure the
Solutions of one Party or such Solutions do not meet the Customer’s requirements or specifications, the prime Party shall
be entitled following notification to the supporting Party, and after affording the supporting Party a reasonable opportunity to
suggest alternative solutions for the products and services, to pursue individually or co-operate with another party to procure
the same.

 

		7	EXCLUSIVITY

 

		7.1	The Parties agree that this Agreement is not exclusive and Parties are free to pursue their own
respective and competing business interests in the Territory and elsewhere. The Parties agree that (save in relation to duties
of confidentiality) nothing in this Agreement shall preclude or restrict them from individually or in association with any third
party directly or indirectly submitting or assisting in the submission of a proposal in respect of an RFP in competition with a
proposal that has been tendered by the other Party.

 

		7.2	Subject to Section 6.6, Parties are expressly forbidden from individually participating and/or
competing in Projects where an Opportunity Registration Form or a Project Agreement have been executed.

 

		8	JOINT EFFORTS

 

		8.1	Each Party shall use all reasonable efforts to achieve the purpose of this Agreement. Neither Party
shall, however, have a claim against the other Party arising out of a failure to fulfil the purpose except as a result of material
breach of this Agreement.

 

		8.2	Except as set out in clause 16, no claims for loss of profit or any other indirect or consequential
damages shall be allowed between the Parties, which principle will also be mirrored in any subsequent Project Agreement(s).

 

		9	basic responsabilities and understandings in case of joint efforts

 

it
has been agreed to apply the following principles:

 

		-	For the performance of the contract, the 2 parties will
be considered to be the preferred suppliers with priority above any other Subcontractors. Third Parties will only be requested
to participate as subcontractors when the needed competencies and qualities are not available with the parties to this contract.

 

		-	Roles and activities : The roles and activities of each
party will be detailed as soon as possible after the receipt of the Notice and could be reviewed, completed and detailed during
the bid process once the Project has been analysed in depth.

 

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		-	The parties do agree that a fair share in the revenue
of the contract must be agreed

 

		-	The parties do also agree that in the staffing of the
different sub-projects (called “sectors” in the RFI) when one partner staffs the project-manager, the other partner
will staff the assistant project-manager.

 

		-	Possibility of trading: The repartition of tasks between
the members might be modified based upon the Project, upon context negotiations with the client or upon changes in available competencies
over time, but with respecting the “fair share of each member”.

 

		-	Quality of the service provided: The parties need to
safeguard the quality of its service delivery. If a party fails to cope with these quality standards, in certain domains it can
be decided to transfer these activities towards the other party or to a subcontractor if the client agrees upon this operation.

 

		-	The
Parties will work as a joined team in their relations with the client. A detailed plan describing the basic responsibilities of
all the Parties will be elaborated during the proposal phase.

 

		10	Rights
                                         in inventions

 

Copyright and any and all other intellectual
property rights in any documentation or other information developed or written or reduced to any tangible or literary form whatsoever
pursuant to this Agreement or any Proposal, tender, contract or sub-contract to which this Agreement refers shall vest in the Party
originating them. Any developments which originate due to the joint efforts of the Parties shall be owned by the Parties jointly
without restriction or rate of accounting to the other, provided that each Party shall exercise the same level of care to preserve
the proprietary nature of such joint developments as it exercises to preserve the proprietary nature of its own proprietary materials.
In addition, no development shall be deemed to be joint developments and therefore jointly owned by the Parties without the Parties
first specifically identifying those jointly developed works in writing prior to the development thereof. If each Party contributes
to the development of a work product and such work product is not identified as a joint work, each Party's ownership rights shall
be limited to the portion of the work product developed by it. Each Party will, however, negotiate the transfer or licensing of
its ownership rights to the other upon mutually acceptable terms. Each Party shall to the extent specified in the Proposal or tender
grant licences or other rights to the other Parties and/or the Client (as appropriate) upon such terms as the Parties shall mutually
agree.

 

		11	ADDITIONAL undertakings

 

		11.1	If a Customer requires the integration of other vendors’ products in the scope of a relevant
Project, both Parties undertake to negotiate in good faith the performance and delivery of such integration to other vendors’
equipment, software or services.

 

		11.2	If a Customer requires the supply of other vendors’ products in the scope of the relevant
Project, both Parties undertake to negotiate in good faith the supply of such relevant products.

 

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		12	DURATION

 

		12.1	The Agreement shall be effective and valid as from the Effective Date and shall have a duration
of five (5) years. Unless renewed in writing by the Parties, or otherwise superseded by a different contractual arrangement, this
Agreement shall expire at the end of the initial five (5) year term.

 

		12.2	In the event of either Party becoming the subject of an insolvency event or an arrangement with
its creditors generally, then this Agreement will terminate automatically and will cease to have any further validity or effect.

 

		12.3	Either party may terminate this Agreement prior to expiration in the event of refusal, inability
or failure of the other party to perform any material obligations under this Agreement. Such termination will be made upon ten
(10) business days prior written notice specifying the breach and upon the failure of the other party to cure the breach within
that time.

 

		12.4	The provisions of Clauses 6.14, 14, 15, 19 will expressly survive the termination or expiration
of this Agreement. Likewise, in the event of termination of this Agreement, any and all outstanding responsibilities pursuant to
in force Project Agreements with Customers will survive, and Parties will ensure continuity of commitments with the Customer.

 

		13	COSTS

 

Each Party hereto shall bear separately
and solely any costs and expenses incurred in connection with this Agreement, its execution and performance. Similarly, each Party
will bear its own costs incurred or other obligations undertaken in connection with any matter arising out of any Proposal/Customer
engagement or any such matter, unless different arrangements have been agreed between the Parties in writing. For the avoidance
of doubt, neither Party shall be liable for the social taxes and/or labor liabilities of the other Party resulting from the commercial
relationship established pursuant to this Agreement.

 

		14	Contact persons and Notice address 

 

		14.1	The contact persons stated below shall be authorized to take operational and day to day decisions, and are the only parties
entitled to make changes or amendments to the Agreement.

 

The Parties have appointed the following contact persons:

 

	Pareteum’s Contact Person Name & Title:	 	Hal Turner, Excutive Chairman and Principal Executive Officer
	Address:	 	As above
	Direct telephone no.:	 	N/A
	Mobile telephone no.:	 	+1 415 425 0874
	E-mail:	 	Hal.Turner@pareteum.com

 

    	 	 	 8 / 14

     

    

 

	Artilium’s Contact Person Name & Title:	 	Bart Weijermars , CEO
	Address:	 	Vaartdijkstraat 19, 8200 Brugge, Belgium
	Direct telephone no.:	 	N/A
	Mobile telephone no.:	 	+32484451694
	E-mail:	 	bart.weijermars@artilium.com

 

Any notices to be sent by a Party according to the Agreement
shall be sent to the other Party’s contact person under address stated above which shall constitute effective service.

 

		15	ASSIGNMENT

 

The Parties hereto
shall not assign any rights and obligations arising out of or in connection with this Agreement without the prior written consent
of the other Party, provided however that a Party shall be entitled to assign this entire Agreement to an Affiliate as part of
an internal group restructure undertaken in the ordinary course of business, or as a result of a merger or acquisition.

 

		16	CONFIDENTIALITY

 

The Parties have executed the NDA
which governs each Party’s obligations with respect to the confidential information of the other Party, as disclosed for
the purpose of this Agreement. Each Party agrees to keep this Agreement and all information received in connection with this Agreement
confidential as required by the NDA which is deemed incorporated in full into this Agreement and will survive this Agreement for
a period of no less than three (3) years.

 

		17	relations between the parties

 

This Agreement
alone does not establish a joint venture or legal agency and neither Party shall without explicit written consent in each case
create obligations, accept commitments or waive rights on behalf of the other Party.

 

		18	LIMITATION OF LIABILITY

 

No Party hereunder shall be liable
to any other Party hereunder for any direct, consequential, indirect or special damages arising out of or related to this Agreement
including, without limitation, damages for loss of business profits, business interruption, loss of business information, and the
like, even if each Party has been advised of the possibility of such damages, save that such limitation shall not apply with respect
to violation of a Party’s confidential information or intellectual property rights.

 

		19	GOVERNING LAW AND JURISDICTION

 

This Agreement
shall be governed by the substantive laws of England & Wales

 

Any and all disputes,
differences or questions between the Parties with respect to any matter arising out of or relating to this Agreement that cannot
be amicably settled by the Parties, having acted in good faith and escalated up through the management of the Parties, shall be
finally settled by means of litigation in London, England, and the Courts in London shall have exclusive jurisdiction.

 

    	 	 	 9 / 14

     

    

 

This Agreement may be executed in
one or more (electronic) counterparts:

 

	Signed on behalf of Pareteum:	 	Signed on behalf of Artilium:
	 	 	 	 
	Place and date: USA, October 16, 2017	 	Place and date: 	 
	 	 	 	 
	Name: Robert H. Turner	 	Name:	 
	 	 	 	 
	Title: Executive Chairman	 	Title:	 
	 	 	 	 	 
	Signature: 	 	 	Signature: 	 

 

    	 	 	 10 / 14

     

    

 

Appendix 1

 

Commercial Framework

 

The commercial and financial arrangements
are dependent on the nature of the Solutions which are being deployed for a given Customer, and the pricing and third party costs
which will be agreed with the end Customer as well as third party suppliers (e.g. network carriers) and defined in each Opportunity
Registration Form.

 

Accordingly, the specific commercial
and financial terms will be agreed between Parties’ respective commercial leads on a case by case basis, but these may include
some or all of the following:

 

1. Resale fee;

2. Gross or Net Revenue share;

3. License plus margin

4. Etc.

 

Each of the foregoing (or any alternative
arrangements) may have different charging components, including (without limitation):

 

1. Setup/implementation fees;

2. Monthly recurring subscriber/SIM
fees;

3. One-off additional orders;

4. Support & maintenance charges;

5. License fees.

 

- o -

 

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Appendix 2

 

NDA

 

[NDA dated October 13, 2017, enclosed]

 

    	 	 	 12 / 14

     

    

 

Appendix 3

 

Opportunity Registration Form

 

 

	Opportunity Registration Number:	#0001
	Opportunity Registration Type:	 ̈ Pareteum Initiated           ̈  Artilium Initiated

 

	Opportunity Description:	 
	
        Customer

        Name:

        Business Address:

         

        Client Contact(s): 

        Name:

        Telephone Number:

        Email:
	
         

         

 

	
        Pareteum Primary Contact

        Primary Contact Name:

        Primary Contact Number:

        Primary Contact Email:
	
         

         

 

	
        Artilium Primary Contact

        Account Exec. Name:

        Account Exec. Number:

        Account Exec. Email:
	
         

         

 

	
        Submission Date:

        Acceptance Date by other Party:

        Termination Date:
	 

 

	Opportunity Description:	[a] 

        [b] 

        [c] etc.

	Pareteum and Artilium respective roles in Project / RFP /  Sale:	 

 

	
        Prime/sub Roles:

        (Select one)
	 ̈ Pareteum Prime      ̈ Artilium Prime        ̈ Other (describe)
	 	Pareteum Responsibilities:	Artilium Responsibilities:
	Sales	 	 
	Consulting / Design	 	 
	Installation	 	 
	Integration	 	 
	Localization	 	 
	Tests	 	 
	Go-live	 	 
	Operations	 	 
	Business configuration	 	 
	1st line support	 	 

 

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	2nd line support	 	 
	3rd line support	 	 
	PM	 	 
	HW / hosting	 	 
	Proposal Schedule:	[a]

        [b]

        [c] etc.

	Opportunity Specific (Financial and Commercial) Terms and Conditions:	 

 

	
        Pareteum Deal Value (Optional):

        Artilium Talk Deal Value (Optional):

        Total:
	To be agreed.

 

	Pareteum: Value Terms and Conditions	 
	Artilium: Value Terms and Conditions	 

 

	Sales ‘Win’ Plan	 

 

	

Terms and Conditions:	This Opportunity Registration is
        subject to the terms and conditions of the Strategic Alliance Agreement between Pareteum and Artilium dated October __,
        2017, except insofar as any terms are expressly replaced or amended herein:

         

        In view of the above, in case of termination
        of the referred Strategic Alliance Agreement for any reason or means whatsoever, this Opportunity Registration shall continue
        in full force and effect until the end of its effective term. All the terms and conditions of the Strategic Alliance Agreement
        that are applicable to this Opportunity Registration shall continue to be valid and in force with regards to this Opportunity
        Registration.

         

        [REPLACED OR AMENDED TERMS GO HERE]

         

 

1- In the event of an inconsistency between
the terms of this Opportunity Registration and the terms of the Strategic Alliance Agreement, this Opportunity Registration shall
prevail.

 

2- This Opportunity Registration establishes
exclusivity as between Pareteum and Artilium for twenty four (24) months counted as from the date hereof (the “Exclusivity
Period”).

 

3. The relationship of exclusivity during the
Exclusivity Period is on a per-potential Customer and its related parties basis, and will be extended for the duration of any subsequent
Project Agreement.

 

4. Authorized Signatories: In consideration
of the mutual obligations assumed under the Strategic Alliance Agreement and this Opportunity Registration, the Parties agree to
the terms and conditions of both and represent that this Opportunity Registration is executed by duly authorized representatives
as of the date below.

 

AGREED FOR AND ON BEHALF OF:

 

	
        Pareteum Corporation

         
	 	Artilium PLC
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 
	Date:	 	 	Date:	 

 

    	 	 	 14 / 14Exhibit
10.1

 

ORIGINAL

 

DATED
THIS 26TH DAY OF OCTOBER, 2016

 

BETWEEN

 

FOO
KHEE LONG

(NRIC
NO: 760520-01-5487)

(“THE VENDOR”)

 

AND

 

TECHNOVATIVE
GROUP, INC

(FILING ID NO: 2010-000588522)

(“THE PURCHASER”)

 

***********************************************************************************************

 

SHARES
SALE AGREEMENT 

 

 ***********************************************************************************************

 

TEH
KIM TEH, SALINA & CO

ADVOCATES & SOLICITORS

UNIT NO. 13A-3, LEVELS 3-5, SETIA AVENUE,

NO. 2, JALAN SETIA PRIMA S U13/S,

SETIA ALAM, 40170 SHAH ALAM,

SELANGOR DARUL EHSAN.

 

TEL:
03-33437789/33423599

FAX: 03-33434210

EMAIL:lawyers@tehkimteh.com

(OUR REF: SS/16/IRG/194/TKT/TSB(ERIC))

 

 

      

     

    

 

ORIGINAL

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

		 

                                    

                                    

                                   SHARES
                                   SALE AGREEMENT

                                   (IRG
                                   SAMOA SHARES) 
	 
	THIS
    AGREEMENT made on 26 OCT 2016	 

 

BETWEEN

 

the
party whose name and descriptions are as stated in Section A of the Schedule annexed hereto (hereinafter referred to as
the “Vendor”) of the one part;

 

AND

 

AND
the parties whose name and descriptions are as stated in Section B of the Schedule annexed hereto (hereinafter referred
to as the “Purchaser”) of the third part.

 

The
word “Parties” wherever it appears in this Agreement, unless stated expressly to the contrary, shall mean the Vendor
and the Purchaser, jointly or collectively.

 

WHEREAS:-

	A.	INNOREI
                                         GROUP (SAMOA) LIMITED (Company No. 75322) is a company incorporated in Samoa with
                                         its registered address at Novasage Chambers, Level 2, CCCS Building, Beach Road, Apia,
                                         Samoa (hereinafter referred to as “IRG SAMOA”).
	 	 
	B.	The
                                         present authorised share capital of IRG SAMOA is USD1,000,000.00 divided into 1,000,000
                                         Common Stock shares of USD1.00 each of which 1,000 shares are issued and fully paid up
                                         or credited as fully paid up.
	 	 
	C.	The
                                         Vendor is the sole shareholder of IRG SAMOA and he holds all the 1,000 shares in IRG
                                         SAMOA (hereinafter referred to as “Said Sale Shares”).
	 	 
	D.	The
                                         current principal business activities of IRG SAMOA is as a holding company of two wholly
                                         owned subsidiaries known as INNOREI GROUP SDN. BHD. (Company No. 1113283-X) (hereinafter
                                         referred to as “IRG Malaysia”) and LINK WORLD SOLUTION SDN. BHD. (Company
                                         No. 1127895-W) (hereinafter referred to as “LWS Malaysia”). IRG Malaysia
                                         and LWS Malaysia are mobile solutions apps development and information technology service
                                         provider companies.
	 	 
	F.	The
    Purchaser is a public listed company incorporated in the State of Wyoming, United States of America and its shares are quoted
    on the Over-the-Counter Bulletin Board with authorised shares comprises of 200,000,000 common shares at the par value of USD0.0010
    per share and 10,000,000 preferred shares at the par value of USD0.0010 per share.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	1	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	G.	The
                                         Purchaser is desirous of purchasing from the Vendor the Said Sale Shares, upon the terms
                                         and conditions set our hereinbelow.
	 	 
	H.	Each
                                         of the Parties hereto confirmed that he/it has been duly advised and is fully aware of
                                         his/its rights to be separately represented by solicitors of his/its own choice. However,
                                         all the Parties have mutually agreed to engage M/s Teh Kim Teh, Salina & Co, advocates
                                         and solicitors of Unit 13A-3, Levels 3-5, Setia Avenue,No. 2, Jalan Setia Prima U13/S,
                                         Setia Alam, 40170 Shah Alam, Selangor Darul Ehsan (hereinafter referred to as “Parties’
                                         Solicitors”) as their common solicitors to attend to this present transaction
                                         and handle all relevant and necessary documents and incidental legal services for the
                                         completion of the transaction herein this Agreement referred to and the Parties further
                                         mutually agreed and undertake to the Parties’ Solicitors that in the event of any
                                         dispute between two or more of the Parties hereto and such a dispute cannot be amicably
                                         resolved through the advice(s) or assistance of the Parties’ Solicitors, none of
                                         the Parties hereto shall allege or accuse the Parties’ Solicitors of having acted
                                         in conflict of interest or being bias or be held responsible for any loss whatsoever
                                         arising out of or from the dispute in any way whatsoever.

 

NOW
THIS AGREEMENT witnessed as follows:-

 

	1.	Agreement
                                         to sell and purchase
	 	 
	1.1	The
    Vendor hereby agrees to sell to the Purchaser all the Said Sale Shares and the Purchaser hereby agrees to purchase all the
    said Sale Shares from the Vendor free from all mortgage, debenture, charge, lien or any other encumbrances whatsoever and
    upon the terms and conditions hereinbelow contained.
	 	 
	2.	The
                                         Purchase Consideration
	 	 
	2.1	The
    Vendor and the Purchaser hereby mutually agree that the purchase consideration for the acquisition of the Said Sale Shares
    shall be satisfied by the allotment of new Purchaser’s shares to the Vendor and/or the Vendor’s nominees in the
    aggregate number of shares, proportions and manners as stated in Section C of the Schedule hereto (hereinafter referred
    to as “the Purchase Consideration”).

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	2	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	3.	Make
                                         Good Provision
	 	 
	3.1	In
    addition to the Purchase Consideration mentioned in Clause 2.1 hereinabove, the Purchaser hereby undertakes to the Vendor
    that in the event by the end of each of the three (3) consecutive years stated in Column A of the Make Good Table hereinbelow
    (hereinafter referred to as “Measurement Date”) the aggregate number of Independent Business Owners (hereinafter
    referred to as “IBO”) who have contracted with and are retained by IRG Malaysia as registered users of
    the mobile solution apps services provided by IRG Malaysia, exceeds the numbers of IBO stated in column B of the Table hereinbelow
    (hereinafter referred to as “Make Good Condition”), then the Purchaser shall allot to the Vendor and/or
    the Vendor’s nominees the number of new shares of the Purchaser in the manner as stated in Column C of the Make Good
    Table hereinbelow (hereinafter referred to as “Make Good Shares”).

 

MAKE
GOOD TABLE

 

	 	 	 	(A)	 	(B)	 	 	(C)	 
	 	 	 	Measurement Date	 	Make Good Condition	 	 	Make Good Shares	 
	1.	 	 	30th June, 2018	 	 	750,000	 	 	 	2,666,667	 
	 	 	 	 	 	 	 	 	 	 	 	 
	2.	 	 	30th June, 2019	 	 	2,000,000	 	 	 	2,666,667	 
	 	 	 	 	 	 	 	 	 	 	 	 
	3. 	 	 	30th June, 2020	 	 	3,000,000	 	 	 	2,666,666	 
	 	 	 	 	 	 	 	 	 	 	8,000,000	 

 

Each
batch of the said Make Good Shares shall be shared between the Vendor and/or the Vendor’s nominee(s) in the
proportions as set out in Section C of the Schedule hereto.

 

	3.2	For
    the purpose of determining the satisfaction of Make Good Condition on the Measurement Date, IRG SAMOA shall produce and provide
    to the Purchaser a list of registered IBO, generated from its mobile solution apps services platform of IRG Malaysia no later
    than fifteen (15) days after the Measurement Date (hereinafter referred to as the “Make Good Notice”).
    If the the Make Good Condition is fulfilled on the Measurement Date and the Purchaser is satisfied with the same, the Purchaser
    shall so state in the Make Good Notice within Ten (10) days of receipt of the Make Good Notice and set forth the number of
    Make Good Shares to be issued to the Vendor and/or the Vendor’s Nominees. The Purchaser shall issue and deliver to the
    Vendor or the Vendor’s Nominees the Make Good Shares no later than Sixty (60) days after the Measurement Date. If the
    Make Good Condition is not fulfilled, the Purchaser shall so state in the Make Good Notice within Ten (10) days of receipt
    of the Make Good Notice and it shall have no further obligation to issue any Make Good Shares to the Vendor or/or the Vendor’s
    Nominees.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	3	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	4.	Locked
    In Period

 

	4.1	It
    is hereby mutually agreed between the Vendor and the Purchaser that any share in the Purchaser company allotted or issued
    to the Vendor and/or the Vendor’s nominees pursuant to this Agreement shall be strictly subject to a no dealing period
    of Eighteen (18) months from the date of issuance of that share (hereinafter referred to as “Locked In Period”)
    which means that during the Locked In Period, the Vendor and/or the Vendor’s nominees shall not deal, trade or transact
    in any manner or under any disguise any of the shares which has not exceeded the Locked In Period from the time of its first
    issuance by the Purchaser.

 

	4.2	As
    such, all shares allotted or issued to the Vendor and/or Vendor’s nominee(s) will be registered as “restricted shares”
    subject to the Locked in Period applicable to each of the said shares. Pending expiry of the Lock In Period, a share certificate
    will be issued by the Purchaser company to the Vendor and/or Vendor’s nominee as documentary evidence of the shares owned
    by him and/or them.

 

	5.	Conditions
    Precedent

 

	5.1	The
    completion of the sale and purchase of the Said Sale Shares is subject strictly to the fulfillment of the following conditions
    precedent:-

 

	 	(a)	completion
    of legal due diligence of the Vendor by the Parties’ Solicitors to ensure that the information stated in Recital Clauses A
    to F hereinabove are true and accurate; and

 

	 	(b)	receipt
    by the Parties’ Solicitors written confirmation and related legal documents from the company secretary or equivalent corporate
    compliance officer of IRG SAMOA on the incorporation of IRG SAMOA, its legal status and capacity to enter into this Agreement;
    and

 

	 	(c)	receipt
    by the Parties’ Solicitors written confirmation and related legal documents from the company secretary or equivalent corporate
    compliance officer of the Purchaser on the corporate status and legal and public listing status of the Purchaser and its power
    to allot new shares to the Vendor.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	4	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	6.	Stakeholder
    Documents

 

	6.1	Upon
    execution of this Agreement, the Vendor shall deposit with the Parties’ Solicitors as stakeholders the following documents
    (hereinafter collectively referred to as the “Stakeholder Documents”):-

 

	 	(a)	the
    instruments of transfer duly executed by the Vendor for the transfer of all the Said Sale Shares to the Purchaser;

 

	 	(b)	the
    relevant original share certificates for Said Sale Shares;

 

	 	(c)	a
    directors’ resolution of IRG SAMOA approving the sale and transfer of the Said Sale Shares by the Vendor to the Purchaser;

 

	 	(f)	the
    relevant stamp duty adjudication form (if applicable) duly completed by the Vendor and witnessed by the company secretary
    of the IRG SAMOA in respect of sale of the Said Sale Shares to the Purchaser;

 

	 	(g)	a
    deed of indemnity duly executed by the Vendor (in the format as attached in Appendix I );

 

	 	(h)	if
    required by the Purchaser, the appropriate forms/letters/resolutions (undated) signed by the existing directors of IRG SAMOA
    to amend the mandates given by the IRG SAMOA to their bankers and financiers (where applicable).

 

	6.2	The
    Parties’ Solicitors are hereby authorised to deliver all the above stakeholder’s documents relating to Said Sale Shares to
    the company secretary of IRG SAMOA who is hereby authorised to complete the transfer and registration of all the above Sale
    Shares in favour of the Purchaser upon fulfillment of all the conditions precedent under Clause 5 hereinabove and full allotment
    of the Purchase Consideration shares to the Vendor and/or the Vendor’s nominees which is to be evidenced by a share certificate
    issued by the Purchaser to confirm the said allotment. In this respect, both parties hereto shall also be responsible to provide
    to the company secretary any other documents as may be needed and/or sign any other documents as may be required, within seven
    (7) days of request by the company secretary, to assist the company secretary to complete the transfer and registration of
    the Said Sale Shares.
	 	 
	6.3	Simultaneously
    with the receipt by the Parties’ Solicitors of the written confirmation from the Shares Registrar (or Company Secretary) of
    the Purchaser that the Purchase Consideration shares have been allotted and registered according to the proportions stated
    under Section C of the Schedule thereto under the names of the Vendor and/or the Vendor’s nominees as the shareholders
    in accordance with the shares registration system applicable to the Purchaser, the Director of the Purchaser shall take full
    custody of the following documents:-

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	5	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	 	(a)	all
    the statutory books of the IRG SAMOA complete and up-to-date together with their respective original certificate of incorporation,
    common seal and Constitution;

 

	 	(b)	all
    other books and records of IRG SAMOA (including bank account cheque book, if any); and

 

	 	(c)	all
    accounting and taxation books and records, intellectual property rights ownership records for IRG SAMOA kept by the said company
    since the date of incorporation until the date of completion of this transaction.

 

	7. 
    	Completion
	 	 
	7.1	Subject
    to the fulfillment of all the conditions precedent under Clause 5 hereinabove, the completion date of this transaction shall
    be the date of receipt by the Parties’ Solicitors of the written confirmation ( share certificates ) from the Share
    Registrar or company secretary or equivalent corporate compliance officer of the Purchaser of the fulfillment of allotment
    of the Purchase Consideration shares by the Purchaser to the Vendor and/or the Vendor’s nominees in the proportions
    and manners stated in Section C of the Schedule hereto.

  

	8.
    	Vendor’s
    warranties and undertakings

 

	8.1	The
    Vendor hereby warrants to and undertakes with the Purchaser that:-

  

	 	(a)	the
    Vendor is the registered and beneficial owner of the Sale Shares of IRG SAMOA which are free from any claims, charges, liens,
    encumbrances and equities and that the Vendor has and will until completion of this transaction continue to retain the unrestricted
    rights to transfer the Said Sale Shares to the Purchaser and there is no and nor will there be any option over or right to
    acquire any of the Said Sale Shares;

 

	 	(b)	the
    Vendor will not prior to the completion of the sale and purchase of Said Sale Shares cause or allow their company, except
    with the previous written consent of the Purchaser:-

  

	 	(i)	to
    create, grant or issue or agree to create, grant or issue any mortgage, charges, debenture or other securities;

 

	 	(ii)	to
    create or issue or agree to create or issue any share or loan capital or give or agree to give any option in respect of any
    share or loan capital;

 

	 	(iii)	to
    create, grant or issue or agree to create, grant or issue any corporate guarantee by their company in favour of any third
    party;

 

	 	(iv)	to
    enter or agree to enter into long term or abnormal contracts or capital commitments by their company; or

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	6	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

	 	(v)	in
    any way depart from the ordinary course of its day to day business either as regard the nature or manner of conducting the
    same;

  

	 	(c)	the
    Vendor is not aware of any other fact or matter which renders any such information misleading or which might reasonably affect
    the willingness of a Purchaser to purchase the :(Said Sale Shares on the terms of this Agreement;

 

	 	(d)	the
    Vendor hereby warrants that the Said Sale Shares shall be capable of being registered in the name of the Purchaser and the
    Vendor is and will be entitled to transfer the full legal and beneficial ownership of the Said Sale Shares to the Purchaser
    on the terms of the Agreement without the consent of any third party;

 

	 	(e)	the
    information contained in this Agreement is true, accurate, complete in every aspect;

 

	 	(f)	the
    Vendor further undertakes to indemnify the Purchaser and keep the Purchaser indemnified to the fullest extent for any loss,
    damage, liabilities, claims, demands, suits, proceedings, costs, expenses etc in the event of any breach of any of the covenants
    or warranties hereby given.

  

	8.2	In
    the event any of the above warranties and undertakings by the Vendor is found to be untrue or materially misleading or turn
    out to be so, the Purchaser shall give the Vendor a fourteen (14) days period by notice to rectify or remedy the misleading
    or untrue warranty or undertaking. If the Vendor still fail to rectify or remedy the same upon expiry of the above stated
    fourteen (14) days’ period, then the Purchaser shall be entitled to treat any such untrue or misleading warranties or undertakings
    as an event of default committed by the Vendor and to seek the appropriate the remedies in accordance with the provisions
    of this Agreement.
	 	 
	9.	Default
    by Vendor
	 	 
	9.1	In
    the event the Vendor shall fail or refuse or neglect to perform his obligations under this Agreement and that such failure
    is not in any way due to any fault of the Purchaser, the Purchaser shall have to serve upon the Vendor in default a written
    notice to require the Vendor to remedy the breach alleged within seven (7) days of the said notice prior to enforcing any
    remedy against the Vendor. In the event the Vendor shall fail to remedy fully the breach alleged, then the Purchaser shall
    be entitled to elect the remedies stated hereinbelow:-

 

	 	(a)	the
    Purchaser may seek specific performance of this Agreement against the Vendor and all costs and expenses (including solicitors
    costs on solicitors-clients basis) incurred by the Purchaser shall be borne fully by the Vendor; or

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	7	 

     

    

 

Messrs Teh Kim Teh, Salina &
Co.

Advocates & Solicitors

 

 

		(b)	in
                                         the alternative, the Purchaser may at its sole discretion elect to terminate his Agreement,
                                         and recover from the Vendor a compensation sum in amount stated in Section D of
                                         the Schedule hereto (hereinafter referred to as “Agreed Liquidated Damages”).
                                         Once the said Agreed Liquidated Damages is fully paid, neither party hereto shall have
                                         any further claim against each other.

 

		10.	Default
by Purchaser

 

		10.1	In
the event the Purchaser shall fail or refuse or neglect to perform any of its obligations under this Agreement and that such failure
is not in any way due to any fault of the Vendor, The Vendor may serve upon the Purchaser a written notice to require the
Purchaser to remedy the breach alleged within seven (7) days of the said notice prior to enforcing any other remedy against the
Purchaser. In the event the Purchaser shall fail to remedy fully the breach alleged, then the Vendor shall be entitled to the
following remedies:-

 

		(a)	to
                                         commence legal proceedings to compel specific performance against the Purchaser to complete
                                         the transaction under this Agreement and all costs and expenses including legal costs
                                         to be incurred by the Vendor shall be borne by the Purchaser and payable to the Vendor;
                                         or

 

		(b)	as
                                         an alternative and at the sole discretion of the Vendor, to elect to terminate this Agreement
                                         by serving upon the Purchaser a notice of termination. In which case, if any of the Said
                                         Sale Shares has already be,en transferred to the Purchaser, the Purchaser shall at its
                                         own cost and expense, cause the Said Sale Shares to be re-transferred to the Vendor within
                                         fourteen (14) days of said termination. In addition to the above, the Purchaser shall
                                         be liable to pay the Vendor by way of compensation in the sum as stated in Section
                                         D of the Schedule hereto as agreed liquidated damages. Thereafter, neither party
                                         hereto shall have any further claim against the other party.

 

		11.	Confidentiality

 

The
parties hereto hereby agree that all information contained herein shall be treated as strictly confidential and shall not be disclosed
or divulged to any third party (except for the disclosure to the relevant authorities in accordance with the relevant laws and
regulation without prior written consent from the other party.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	8	 

     

    

 

Messrs Teh Kim Teh, Salina &
Co.

Advocates & Solicitors

 

 

		12.	Miscellaneous

 

		12.1	Agreement
to subsist

 

Notwithstanding
the completion of the sale and purchase of the Said Sale Shares, the provisions warranties undertakings and agreements contained
herein shall continue thereafter to subsists for so long as may be necessary for the purpose of giving effect to each and every
of these clauses in accordance with the terms hereof.

 

		12.2	Assignment

 

Either
party hereto may not assign or otherwise part with their rights and interests in this Agreement without the prior consent of the
other party has first been obtained.

 

		12.3	Whole
Agreement

 

This
Agreement (together with any documents referred to herein) constitute the whole agreement between the parties hereto and it is
expressly declared that no variation hereof shall be effective unless made in writing.

 

		12.4	Specific
Performance

 

The
parties hereto shall be entitled to specific performance of the sale and purchase of the Said Sale Shares and the performance
of each and every covenant herein.

 

		12.5	Rescission

 

Any
rights of rescission conferred upon a party herein shall be in addition to and without prejudice to all other rights and remedies
available to it and exercise or failure to exercise such rights shall not constitute a waiver by it of any such right or remedy.

 

		12.6	Costs

 

The
Purchaser shall bear the solicitors’ fees payable to the Purchaser’ Solicitors and other professional fees and costs
incurred incidental to this Agreement. The stamp duty for the transfer of the Said Sale Shares shall be paid by the Purchaser.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	9	 

     

    

 

Messrs Teh Kim Teh, Salina &
Co.

Advocates & Solicitors

 

 

		12.7	Notice

 

Any
notice required to be given by the Vendor or the Purchaser hereto to the other shall be deemed validly served by prepaid registered
letter sent through the post to their respective address given herein or such other addresses as may from time to time be notified
for this purpose and any notice so served shall be deemed to have been served three (3) days after the time at which it was posted
and in proving such service it shall be sufficient to prove that the notice was properly addressed and posted at any post office
in Malaysia. Notwithstanding the above method of service, either party may also serve the notice to the other by personally delivering
the said notice to the other party or by telefax and either case the said notice is only to be treated as effectively served upon
receipt by the sender of written acknowledgment of receipt signed by the receiving party or its agent or servant during the normal
working hours.

 

		12.8	Time

 

Time
wherever mentioned in this Agreement shall be the essence of this contract.

 

		12.9	Governing
Law

 

In
the event of any dispute between the parties hereto, the law of the country or territory at which the alleged breach or default
occurred shall be the governing law.

 

		12.10	Binding

 

This
Agreement shall be binding upon the parties hereto their assigns and personal representatives respectively.

 

		12.11	Severability

 

In
the event that any of the provisions in this Agreement is found or discovered to be void, illegal or unenforceable, then it is
hereby declared by the parties hereto that the nullity, illegality and/or unenforceability of such provision shall not in any
manner affect the validity, legality and enforceability of the remaining provisions of this Agreement.

 

		12.12	Further
assurance

 

Each
party shall take all such steps, execute all such documents and do all such acts and things as may be reasonably required by the
other party to give effect to any of the transactions contemplated by this Agreement.

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	10	 

     

    

 

Messrs Teh Kim Teh, Salina &
Co.

Advocates & Solicitors

 

 

		12.13	Effect
of Headings

 

The
headings and sub-headings in this Agreement are inserted for convenience only and shall not be considered in construing the provisions
of this Agreement.

 

		12.14	Schedules

 

The
Schedules to this Agreement shall hive full effect and shall be read as part and parcel of this Agreement as if they are incorporated
herein.

  

 [THE
REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	11	 

     

    

 

Messrs Teh Kim Teh, Salina &
Co.

Advocates & Solicitors

 

 

IN
WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first above written.

 

	SIGNED by the abovenamed	)	 
	 	 	 
	Vendor in the presence of:-	)	/s/ FOO KHEE LONG
	 	 	FOO KHEE LONG
	 	 	(Malaysian NRIC No. 760520-01-5487)

	 	 	 

 

	SIGNED by, for and on behalf of	)	TECHNOVATIVE GROUP, INC.	 
	 	 	 	 
	the abovenamed
    Purchaser	)	 	 
	 	 	 	 
	in the presence of:-	)	 	 
	 	 	/s/ LIANG, MEIHUA	 
	 	 	Name: LIANG, MEIHUA
	 	 	People’s Republic of China Passport No.:
	 	 	E34087613
	 	 	Position: Director

  

	/s/ MA LIT
    KIN	 	 
	Name: MA LIT KIN	 	 
	Hong Kong Passport No.: K05160599	 	 

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	12	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates
& Solicitors

 

 

THE
SCHEDULE

 

(which is to be taken, read and construed as an integral part of this Agreement)

 

 

 

Section
A : The Vendor

 

FOO
KHEE LONG (Malaysian NRIC No. 760520-01-5487) of A6-12A, Suria Damansara, Jalan PJU 1A/4A, Kelana Idaman, 47301,
Petaling Jaya, Selangor Darul Ehsan.

 

 

 

Section
B : The Purchaser

 

TECHNOVATIVE
GROUP, INC. (Filing ID No. 2010-000588522) is a public listed company incorporated in the State of Wyoming, United States
of America and having its principal address at 1712, Pioneeer Ave Ste 6968, Cheyenne, WY 82001, United States of America.

 

 

 

Section
C : Purchase Consideration

 

The
total Purchase Consideration shall be Eight Million (8,000,000) shares of the Purchaser which shall be allotted by the Purchaser
to the Vendor and/or the Vendor’s nominees as stipulated hereinbelow (hereinafter collectively referred to as “the Vendor’s
Nominees”) forthwith upon completion of transfer of all the Sale Shares from the Vendor to the Purchaser:-

  

	Vendor and/or Vendor’s Nominee(s)	 	No of Shares	 
	1.	 	FOO KHEE LONG	 	4,000,000 shares	 
	 	 	(NRIC No. 760520-01-5487)	 	 	 
	 	 	 	 	 	 
	2.	 	LIM KIAN SEONG	 	3,000,000 shares	 
	 	 	(NRIC No. 730616-14-5385)	 	 	 
	 	 	 	 	 	 
	3.	 	SOO SOON KID	 	1,000,000 shares	 
	 	 	(NRIC No. 800206-08-5165)	 	 	 
	 	 	 	 	 	 
	 	 	Total	 	8,000,000 shares	 

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	13	 

     

    

 

Messrs
Teh Kim Teh, Salina & Co.

Advocates & Solicitors

 

 

Section
D : Agreed Liquidated Damages

 

Five
Hundred US Dollars Only (USD RM500.00).

 

 

 

[THE
REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	Shares Sale Agreement
IRG SAMOA - TEHG
	14	 

     

    

 

 Messrs
Teh Kim Teh, Salina & Co.

Advocates & Solicitors

 

 

Appendix
I

 

Deed
of Indemnity

 

Date:

 

To:

 

TECHNOVATIVE
GROUP, INC.

 

 

 

Dear
Sirs,

 

SHARES
SALE AGREEMENT —  INNOREI GROUP (SAMOA) LIMITED

 

This
deed of indemnity is entered into pursuant to the Shares Sale Agreement between FOO KHEE LONG (Malaysian NRIC No. 760520-01-5487)
of A6-12A, Suria Damansara, Jalan PJU 1A/4A, Kelana Idaman, 47301, Petaling Jaya, Selangor Darul Ehsan and TECHNOVATIVE GROUP INC.
of

 

In
consideration of you, TECHNOVATIVE GROUP, INC. (Filing ID No. 2010-000588522) agreeing to purchase from me all the Sale Shares
of INNOREI GROUP (SAMOA) LIMITED (Company No. 75322) for a total Purchase Consideration of Eight Million Common Stock Shares of
TECHNOVATIVE GROUP INC., I irrevocably agree to indemnify you and keep you indemnified to the fullest extent at all times against
any loss, damage, liabilities, claims, demands, suits, proceedings, costs, expenses etc arising from any claims in respect of
any debts or liabilities (including any income tax) incurred by or on behalf of INNOREI GROUP (SAMOA) on/before the Completion
Date of the Shares Sale Agreement.

 

Yours
faithfully,

 

		 
	FOO KHEE LONG	 
	(Malaysian NRIC NO.: 760520-01-5487)	 

 

 

	
        Shares Sale Agreement

        IRG SAMOA - TEHG
	15

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