Document:

Document

Exhibit 10.2
    
270 Brannan Street
San Francisco, CA 94107

May 24, 2022

Shawn Bice
[redacted]

Re: Separation Agreement

Dear Shawn:

Thank you for your work on behalf of Splunk Inc. (“Splunk” or the “Company”). This separation agreement (the “Agreement”) confirms our agreement regarding your resignation of employment from Splunk. 

1.Transition and Separation. Your anticipated separation date with the Company is June 16, 2022 unless your employment is terminated earlier by your voluntary termination, by Splunk, or on another date agreed to in writing between you and Splunk (the “Separation Date”). If your employment terminates earlier or later than the anticipated Separation Date, that date will become the “Separation Date” for the purposes of this Agreement. The time period between the date of notification, the date of this Agreement, and the Separation Date is your “Transition Period.” You and the Company anticipate that, provided you comply with the terms and conditions of this Agreement, your agreements with Splunk, the Code of Business Ethics and Conduct and all applicable Splunk policies, during your Transition Period: 

•You will remain a Splunk employee and Splunk will continue to pay you your current base salary or hourly rate, as applicable, minus applicable tax withholdings and deductions, payable in accordance with Splunk’s standard payroll practices. In accordance with the terms of the applicable equity plan, you will continue to be eligible to vest in any of your outstanding equity awards of the Company during the Transition Period, and any unvested equity awards will cease vesting and be canceled on the Separation Date. If you participate in the Employee Stock Purchase Plan (“ESPP”), you will continue to be eligible to participate in accordance with the terms of the ESPP. If enrolled, the Company will continue to provide you with your Company-sponsored health benefits through the end of the month of your Separation Date.  You will be paid any accrued base salary, and any accrued and unused PTO, through your Separation Date. You acknowledge that you will not be eligible for, nor will you receive, any further compensation or benefits from Splunk (including an annual bonus for fiscal year 2023) except as specifically described in this Agreement.  

    
270 Brannan Street
San Francisco, CA 94107

•You will promptly cancel all outstanding business travel and submit all reimbursement requests within 10 days of your Separation Date to Splunk via Concur. Splunk will reimburse reasonable and necessary business expenses in accordance with the Travel and Expense Policy. 

Throughout the Transition Period: 

•Until the Separation Date, you will continue to work regular work hours in your current position and as directed by your manager. You will also work with your manager to diligently transition your work, answer questions and assist Splunk as reasonably requested.

•You will not work in any capacity for any other company, business, or organization during the Transition Period without Splunk’s prior written consent.

•You will remain an at-will employee, which means that either you or Splunk may terminate your employment at any time for any lawful reason or no reason, with or without cause or notice.

•You will comply with the applicable (i) terms and conditions of your employment offer letter (your “Offer Letter”); (ii) terms and conditions of the Employee Invention Assignment and Confidentiality Agreement (“EIACA”); and (iii) Splunk policies and practices, including the Code of Business Conduct and Ethics and Insider Trading Policy. You further affirm that you will comply with your continuing obligations under these agreements and policies post-termination.

If, during the Transition Period, you are hired into a position outside of Splunk that starts during the Transition Period, you must provide written notice to HR at Kristen Robinson (kristenr@splunk.com) at least three business days before starting your new position. Upon such written notice you will be deemed to have resigned your Splunk employment effective immediately.

If your Splunk employment terminates for any reason during the Transition Period, the compensation and benefits described above will end immediately upon your new Separation Date. 

•Consideration. Subject to the terms and conditions of this Agreement, in consideration for your timely execution and return by the Deadline (as defined below) to Splunk this Agreement, which includes the general release of claims in Section 2 below, and your non-revocation of this 

    
270 Brannan Street
San Francisco, CA 94107

Agreement, and provided your employment with Splunk ends on June 16, 2022, and you comply with all the terms and conditions of this Agreement, your EIACA, and all applicable Company policies, the Company will: release you of your obligations to repay your signing bonus under the terms of your Offer Letter.

For the avoidance of doubt, you will not be entitled to the Consideration if you voluntarily terminate your employment from Splunk prior to June 16, 2022. Except as set forth in this Agreement, you agree that you are not entitled to receive any severance benefits (including equity award acceleration) from the Company.

2.Your General Release of Claims. By entering into this Agreement, you are agreeing to the following general release of claims and to resolve any potential disputes between us. 

In consideration for receiving the Consideration, you hereby waive and release, to the maximum extent permitted by applicable law, any and all claims, whether known or unknown, against the Company and the Released Parties (defined below) with respect to any matter, including, without limitation, any matter related to or arising out of your employment with the Company or the termination of that employment relationship.

This waiver and release includes, without limitation, federal and state WARN Act claims; claims under the Employee Retirement Income Security Act; claims for attorneys’ fees or costs; any and all claims for stock, stock options, restricted stock units or other equity securities; penalties claims; wage and hour claims; statutory claims; tort claims; contract claims; claims of wrongful discharge, constructive discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract, and breach of the covenant of good faith and fair dealing; claims for retaliation, harassment and discrimination; and claims under any federal, state or local laws, ordinances and regulations.

You agree not to sue the Released Parties for any of the claims released above, agree not to participate in any class, collective, representative, or group action that may include any of the claims released above, and will affirmatively opt out of any such action. Further, you agree not to participate in, seek to recover in, or assist in any litigation or investigation by other persons or entities against the Released Parties, except as required or permitted by law.

This waiver and release covers only those claims that arose prior to your execution of this Agreement. The waiver and release does not apply to any claim which, as a matter of law, cannot be waived or released by private agreement. If any provision of the waiver and release is found to be unenforceable, it shall not affect the enforceability of 

    
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San Francisco, CA 94107

the remaining provisions and all remaining provisions shall be enforceable to the fullest extent permitted by law.

The Released Parties: The “Released Parties” include Splunk and/or its respective predecessors, successors, past or present parent companies or subsidiaries, affiliated companies, investors or related entities (collectively, including the Company, the “Entities”) and/or the Entities’ respective past or present insurers, officers, directors, agents, attorneys, employees, shareholders, assigns and employee benefit plans.

Please be advised: Nothing in this Agreement precludes you from communicating with the government, including filing a charge with, participating in any investigation or proceeding before, or reporting actual or potential violations of laws or regulations (including lawfully reporting fraud, waste or abuse) to any government agency or body. However, by signing this Agreement, you waive any right to bring a lawsuit against the Released Parties and waive any right to any individual monetary recovery to the fullest extent permitted by law. Nothing in this Agreement is intended to impede your ability to report possible securities law violations to the government or to receive a monetary award from a government administered whistleblower-award program and you do not need to provide notice to or obtain authorization from Splunk to do so. 

3.Waiver of Unknown Claims. You understand and acknowledge that you are releasing potentially unknown claims and that there is a risk that, after entering into this Agreement, you may learn information that might have affected your decision to enter it. You assume this risk and all other risks of any mistake in entering into this Agreement. In addition, you expressly waive and release any and all rights and benefits under Section 1542 of the California Civil Code (or any analogous law), which reads as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

4.ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the Federal Age Discrimination in Employment Act (“ADEA Waiver”) and that the consideration given for the ADEA Waiver is in addition to anything of value to which you are already entitled. You further acknowledge that: (a) your ADEA Waiver does not apply to any claims that may arise after you sign this Agreement; (b) you should consult with an attorney prior to executing this Agreement; (c) you have 21 calendar days within which to consider this Agreement ( though it cannot be signed before the Separation Date) (the “Deadline”); (d) you have 7 calendar days following the execution of this Agreement to revoke it; and (e) the Agreement will not be effective until the eighth day after you sign it, 

    
270 Brannan Street
San Francisco, CA 94107

provided that you have not revoked it (the “Effective Date”). You agree that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original 21-day consideration period. To revoke the Agreement, you must email a written notice of revocation to Kristen Robinson (kristenr@splunk.com), prior to the end of the 7-day period. The Consideration offer contained in this Agreement will be automatically withdrawn if you do not sign it by the Deadline.

5.Nothing Owed. You acknowledge and agree you have been timely paid all wages earned through the Separation Date. You acknowledge and agree that, prior to the execution of this Agreement, you were not entitled to receive any further payments or benefits from the Company, and the only payments and benefits you are entitled to receive from the Company in the future are those specified in this Agreement. You agree that you have no unreimbursed business expenses.

6.No Admission. Nothing contained in this Agreement shall constitute or be treated as an admission by the Released Parties of any liability, wrongdoing, or violation of law.

7.Continuing Obligations. At all times in the future, you remain bound by your EIACA, a copy of which is attached as Attachment 1. Note, however, that you will not be held civilly or criminally liable under any Federal or State trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding; or (c) is made to an attorney or is used in a court proceeding in connection with a lawsuit alleging retaliation for reporting a suspected violation of law, provided that the trade secret is filed under seal and not disclosed except pursuant to court order.

8.Return of Company Property. You agree that you will promptly (1) return to the Company all Company property (e.g. laptops, tablets, mobile devices, equipment, security badge, phone, software, corporate credit card, keys) to HR at SPOT@splunk.com; and (2) return or permanently delete all confidential Company information, including personally deleting or removing any and all Company information from all personal devices and databases and permanently disabling access to any Company repositories, databases or directories. As a condition of receiving the Consideration, you must sign the Certification Regarding Splunk Assets and Information provided by the Company as Attachment 2 and return it along with your signed Agreement. 

9.Update Social Media. If you represent your Splunk employment on social media, such as LinkedIn and Facebook, you agree that, within five days of the 

    
270 Brannan Street
San Francisco, CA 94107

Separation Date, you will update all your social media accounts to accurately reflect your Splunk dates of employment.

10.References. You shall direct prospective employers seeking reference checks to contact SPOT@splunk.com. The Company will follow its standard policy and practice with respect to outside inquiries about your employment. Splunk’s policy as to references for employees who have left the Company is to disclose only the dates of employment and title of the last position held. Upon your request and written authorization, the Company will also verify your compensation.

11.Non-Disclosure. Except if permitted by applicable law, you agree that you will not disclose to others the amount of the Consideration, except that you may disclose such information to your spouse, and to your attorney or accountant for such individuals to render services to you, and on the condition that they hold the information in strict confidence. 

12.Non-Disparagement. In exchange for the Consideration, you agree that you will not disparage or encourage or induce others to disparage the Company or any of the Released Parties. For the purpose of this Agreement, “disparage” includes, without limitation, making comments or statements online or to any person or entity including, but not limited to, the press and/or media, current or former employees, directors, partners or principals of the Company or any entity with whom the Company has a business relationship, that would adversely affect in any manner (a) the conduct of the business of the Company or any of the Released Parties (including, but not limited to, any business plans or prospects) or (b) the reputation of the Company or any of the Released Parties. Nothing in this Agreement (i) prohibits you from providing truthful information as required by law, including in a legal proceeding or a government investigation, or (ii) prevents you from discussing or disclosing conduct that you reasonably believe under Washington state, federal, or common law to be illegal discrimination, illegal harassment, illegal retaliation, a wage and hour violation, or sexual assault, or that is recognized as against a clear mandate of public policy.

13.Cooperation. You agree to cooperate with the Company and its counsel for any legal matter about which you have information based on your employment with the Company. Cooperation includes, for example, interviews, review of documents, attendance at meetings, providing testimony, or providing documents to the Company.

14.Miscellaneous. You acknowledge and agree that any unvested equity awards granted to you by the Company ceased vesting on your Separation Date and were forfeited, in accordance with the terms of the applicable equity plan. You acknowledge that you continue to be bound by the Company’s Insider Trading Policy, which among other obligations, prohibits you from trading Company stock if (1) you possess material nonpublic information regarding the Company and/or (2) there is a closed trading 

    
270 Brannan Street
San Francisco, CA 94107

window at the Company at the time of your employment termination (such that you would be prohibited from trading Company stock during that closed trading window). You represent and warrant that throughout your employment you complied with the Company’s Code of Business Conduct and Ethics (“Code”) and you are not aware of any violations of the Code by any other person. You acknowledge that you will continue to comply with applicable provisions of the Code after your employment terminates. You also acknowledge that, if and as applicable, you signed and/or will sign the Company’s quarterly and/or annual sales certification.

15.Dispute Resolution. You and the Company agree that any and all claims or disputes arising out of, or relating to, this Agreement shall be resolved by final, binding and confidential arbitration before a single arbitrator in San Francisco, CA (or another mutually agreeable location) conducted under the Judicial Arbitration and Mediation Services (JAMS) Streamlined Arbitration Rules & Procedures (http://www.jamsadr.com/rules-streamlined-arbitration/). Before engaging in arbitration, you and the Company agree to first attempt to resolve the dispute informally or with the assistance of a mediator. You acknowledge that by agreeing to this arbitration procedure, you and the Company waive the right to resolve any such claim or dispute through a trial by jury or judge or by administrative proceeding. The arbitrator, and not a court, shall also be authorized to determine arbitrability, except as provided herein. Claims will be governed by applicable statutes of limitations. All claims must be submitted to arbitration on an individual basis and not as a representative, class and/or collective action proceeding on behalf of other individuals. Any issue concerning the validity of this representative, class and/or collective action waiver must be decided by a Court and if it is found to be unenforceable, the representative, class and/or collective action claim may only be heard in Court. This arbitration agreement does not cover any action seeking only emergency, temporary or preliminary injunctive relief in a court of competent jurisdiction in accordance with applicable law to protect a party’s confidential or trade secret information. This arbitration agreement is governed by the Federal Arbitration Act. 

16.Entire Agreement. You and the Company agree that this Agreement, including the documents referenced herein, constitute the entire agreement between you and the Company regarding its subject matter. All prior or contemporaneous negotiations, agreements, understandings, or representations are expressly superseded hereby and are of no further force and effect. This Agreement may only be modified in a written document signed by you and an authorized Company representative.

17.Governing Law. This Agreement, except for the arbitration agreement, shall be governed by the laws of the state of Washington, where you live and primarily worked.

18.Severability. The provisions of this Agreement are severable. If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted 

    
270 Brannan Street
San Francisco, CA 94107

and such invalidity or unenforceability shall not affect any other provision, the balance of which will remain in and have its intended full force and effect. Provided, however, that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.

19.Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement. Execution via DocuSign or a similar service, or of a facsimile copy or scanned image shall have the same force and effect as execution of an original, and an electronic or facsimile signature or scanned image of a signature shall be deemed an original and valid signature.

To accept this Agreement and receive the Consideration, you must sign this Agreement and return it to HR at SPOT@splunk.com after your Separation Date by the Deadline (as defined in paragraph 5). 

[Remainder of the page intentionally left blank]

    
270 Brannan Street
San Francisco, CA 94107

We thank you for your contributions to Splunk and we wish you well in your future pursuits.

Sincerely,
Splunk Inc.

By:          /s/ Kristen Robinson                                                                          
Name:     Kristen Robinson          
Title:       Chief People Officer

I agree with the terms and conditions of this Agreement as signified by my signature below. I acknowledge that I have a right to consult an attorney and was free to do so. I acknowledge that my consent to this Agreement is knowing and voluntary. I acknowledge that I have read and understand this Agreement and that I sign this release of all claims voluntarily, with full appreciation that at no time in the future may I pursue any of the rights I have waived in this Agreement.

															
	Signed:	/s/ Shawn Bice		Dated:	June 16, 2022
		Shawn Bice  
			(must be signed on June 16, 2022)

Attachment 1: Employee Invention Assignment and Confidentiality Agreement
Attachment 2: Certification Regarding Splunk Assets and InformationExhibit 10.1

 

DATED 22 August 2022

 

 

 

 

 

 

 

 

 

NEXTBANK INTERNATIONAL,
INC

 

AND

 

ALPHABIT CONSULTING
PTE. LTD.

 

 

 

 

 

 

 

 

COLLABORATION AGREEMENT

 

 

 

 

     

     

    

 

This collaboration agreement (this “Agreement”)
is made on 22 August 2022.

 

BETWEEN:

 

		(1)	NEXTBANK INTERNATIONAL, INC (Company No.: 401244), a
company incorporated in Puerto Rico with registered office at 268 Ponce de Leon Ave., Suite 1012, SAN JUAN, PR, 00918 (“NextBank”);
and

 

		(2)	ALPHABIT CONSULTING PTE. LTD. (Company No.: 201809216G),
a company incorporated in Singapore with registered office at 11 Collyer Quay, #11-06, The Arcade, Singapore 049317 (“ABCC”),

 

(each a “Party” and together the “Parties”).

 

WHEREAS:

 

		(A)	NextBank is a wholly-owned subsidiary of NextPlay Technologies,
Inc, a company listed on the NASDAQ. NextBank provides line and mobile banking services and is a regulated financial institution licensed
under Act 273 by the Office of the Commissioner of Financial Institutions of Puerto Rico.

 

		(B)	ABCC operates a cryptocurrency exchange that provides fiat-cryptocurrency
and cryptocurrency-cryptocurrency trading (“ABCC Exchange”) and has submitted a licence application under the Payment
Services Act 2019 (No. 2 of 2019) (“PS Act”) to provide account issuance services and digital payment token (“DPT”)
services. ABCC has been granted an exemption from holding a licence to provide account issuance services and DPT services under the PS
Act until the date that the licence application is approved or rejected by the Monetary Authority of Singapore (“MAS”)
or withdrawn by ABCC.

 

		(C)	NextBank proposes to partner with ABCC to provide bank accounts
to the users of the ABCC Exchange for the deposit of fiat currency when they exchange cryptocurrency and to offer Payment Cards (as defined
below) to such users (the “Project”).

 

		(D)	Prior to the commencement of the Project, NextBank and ABCC
shall partner on a preliminary project pursuant to which NextBank shall provide bank accounts to the users of the ABCC Exchange for the
deposit of fiat currency and to offer Prepaid Cards (as defined below) (the “Phase 1 Project”).

 

		(E)	This Agreement establishes a framework to govern the parties’
respective rights and obligations in relation to their collaboration on the Phase 1 Project and the Project and sets out the terms and
conditions upon which the parties have agreed that such collaboration on the Phase 1 Project and the Project may take place.

 

IT IS HEREBY AGREED THAT:

 

		1.	DEFINITIONS AND INTERPRETATIONS

 

		1.1.	Definitions

 

		1.1.1.	“ABCC Exchange” means the cryptocurrency exchange and trading platform operated by ABCC as described in Recital
(B).

 

		1.1.2.	“ABCC Porta Reserve” has the meaning ascribed to it in Schedule 1.

 

		1.1.3.	
	 	 	 

		1.1.4.	“Available Credit” has the meaning ascribed to it in Clause 3.7.1.

 

		1.1.5.	“Available Credit Ratio” has the meaning ascribed to it in Clause 3.7.1.

 

    2

     

    

 

		1.1.6.	“Business Day” means a day on which banks are open for the transaction of business in Puerto Rico, Singapore and
the United States of America.

 

		1.1.7.	“Change of Control” means a change in the beneficial ownership of more than 50% of
the issued share capital of a company or the legal power to direct or cause the direction of the general management of the company;

 

		1.1.8.	“Created Intellectual Property” has the meaning ascribed to it in Clause 11.3.

 

		1.1.9.	“DPT” has the meaning ascribed to it in Recital (B).

 

		1.1.10.	“Effective Date” means 22 August 2022.

 

		1.1.11.	“Exclusivity Period” has the meaning ascribed to it in Clause 4.1

 

		1.1.12.	“Intellectual Property Rights” means patents, rights to inventions, copyright and related
rights, trademarks and service marks, business names and domain names, goodwill and the right to sue for passing off rights in designs,
rights in computer software, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how
and trade secret), and all other intellectual property rights, in each case whether registered or unregistered and including all applications
and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent
rights or forms of protection which subsist or will subsist now or in the future in any part of the world.

 

		1.1.13.	“KYC Requirements” has the meaning ascribed to it in Clause 3.4.1.

 

		1.1.14.	“LR” has the meaning ascribed to it in Clause 3.7.2.

 

		1.1.15.	“LTV” has the meaning ascribed to it in Clause 3.7.2.

 

		1.1.16.	“LTVmax” has the meaning ascribed to it in Clause 3.7.2.

 

		1.1.17.	“MAS” has the meaning ascribed to it in Recital (B).

 

		1.1.18.	“Mediator” has the meaning ascribed to it in Clause 3.6.4.

 

		1.1.19.	“Minimum Prepaid Card Reserve” has the meaning ascribed to it in Schedule 1.

 

		1.1.20.	“Minimum Reserve Ratio” has the meaning ascribed to it in Clause 3.8.1.

 

		1.1.21.	“NextBank Exchange Account” has the meaning ascribed to it in Schedule 1

 

		1.1.22.	“NextBank Prepaid Card Account” has the meaning ascribed to it in Schedule 1.

 

		1.1.23.	“Outstanding Credit” has the meaning ascribed to it in Clause 3.7.3.

 

		1.1.24.	“Partner” has the meaning ascribed to it in Clause 4.1.

 

		1.1.25.	“Payment Card” has the meaning ascribed to it in Clause 3.3.2.

 

		1.1.26.	“Phase 1 Project” has the meaning ascribed to it in Recital (D).

 

		1.1.27.	“Porta” means the stablecoin issued by NextBank that is backed one-to-one by fiat reserves which can be denominated
in various fiat currencies.

 

		1.1.28.	“Pre-Approval Period” has the meaning ascribed to it in Clause 3.6.2.

 

		1.1.29.	“Prepaid Cards” has the meaning ascribed to it in Schedule 1.

 

    3

     

    

 

		1.1.30.	“Project” has the meaning ascribed to it in Recital (C).

 

		1.1.31.	“PS Act” has the meaning ascribed to it in Recital (B).

 

		1.1.32.	“Relevant Systems” means the systems and/or interfaces referred to in Clauses 3.5.2, 3.6.3 and paragraph 9 of Schedule
1.

 

		1.1.33.	“Reserve” has the meaning ascribed to it in Clause 3.8.2.

 

		1.1.34.	“SIAC” has the meaning ascribed to it in Clause 19.2.

 

		1.1.35.	“Staking Account” has the meaning ascribed to it in Clause 3.3.1.

 

		1.1.36.	“Staked Cryptocurrency” has the meaning ascribed to it in Clause 3.3.1.

 

		1.1.37.	“TAC” has the meaning ascribed to it in Clause 3.8.1.

 

		1.1.38.	“TOC” has the meaning ascribed to it in Clause 3.8.3.

 

		1.1.39.	“Users” means the users and customers of the ABCC Exchange who have opened a bank account
with NextBank and wish to apply for or have been issued a Payment Card.

 

		1.1.40.	“Y” has the meaning ascribed to it in Clause 3.7.2.

 

		1.2.	Modifications etc. of Statutes

 

References to any enactment, subsidiary
legislation or regulatory instruments shall be deemed to include references to such enactment as re-enacted, amended or extended and any
subordinate legislation made from time to time under it.

 

		1.3.	Singular, Plural, Gender

 

References to any one gender include all genders and references
to the singular shall include the plural and vice versa.

 

		1.4.	References to Persons and Companies

 

The expression “persons”
means any individual, corporation, partnership, association, limited liability company, trust, governmental or quasi-governmental authority
or body or other entity or organisation and the expression “company” means any company, corporation or any body corporate,
wherever incorporated.

 

		1.5.	Clauses

 

References to Clauses are to clauses
of this Agreement.

 

		1.6.	Headings

 

The headings are inserted for convenience only and shall be
ignored in construing this Agreement.

 

		1.7.	Successors

 

This Agreement shall be binding on and
enure to the benefit of, the parties to this Agreement and their respective successors and permitted transferee and references to a Party
shall include that Party’s successors and permitted transferees

 

    4

     

    

 

		2.	COMMENCEMENT AND DURATION

 

		2.1.	This Agreement shall commence on the Effective Date.

 

		2.2.	This Agreement shall continue, unless terminated earlier in accordance with this Agreement, until the
date falling seven (7) years from the Effective Date (or such other date as may be mutually agreed between the parties).

 

		2A.	COLLABORATION ON THE PHASE 1 PROJECT

 

Prior to the commencement of the Project, the Parties agree
to jointly collaborate on the Phase 1 Project on the terms and conditions set out in Schedule 1.

 

		3.	COLLABORATION ON THE PROJECT

 

		3.1.	The Parties agree to jointly collaborate on the Project on the terms and conditions of this Agreement.

 

		3.2.	Opening of Bank Account

 

Where a User wishes to open a bank account with NextBank:

 

		3.2.1.	subject to the User having satisfied all KYC Requirements, NextBank shall open a bank account in the name
of the User for the deposit of fiat currency (unless the User already has an existing bank account with NextBank);

 

		3.2.2.	upon the bank account with NextBank being opened, the User shall be permitted to exchange cryptocurrencies
held by him with the ABCC Exchange for fiat currencies (and vice versa), and any such fiat currencies shall be deposited in the bank account
held by him with NextBank; and

 

		3.2.3.	the User shall be permitted to maintain (i) a cryptocurrency balance in the account held by him with the
ABCC Exchange and (ii) a fiat currency balance in the account held with NextBank;

 

		3.3.	Payment Card

 

Where a User has a bank account opened with NextBank and wishes
to apply for a Payment Card:

 

		3.3.1.	the User shall instruct the ABCC Exchange to deposit part or all of the cryptocurrency balance held by
him with ABCC Exchange (the “Staked Cryptocurrency”) in a separate, segregated account (the “Staking Account”);
and

 

		3.3.2.	subject to the User having satisfied all KYC Requirements, NextBank shall issue payment cards to the User
that extend credit (in fiat currency) to the User (the “Payment Card”). The credit available under the Payment Card
is secured by and limited by the value of the Staked Cryptocurrency and the value of the Reserves in accordance with Clauses 3.7 and 3.8
respectively.

 

		3.4.	Verification of Users

 

		3.4.1.	NextBank shall obtain the documents and information set out in Schedule 2, and any additional documents
and information which NextBank may reasonably require to satisfy its verification and AML/KYC requirements (the “KYC Requirements”)
directly from the User. ABCC shall use all reasonable efforts to assist NextBank in obtaining any such documents and information from
the User.

 

		3.4.2.	NextBank reserves the right to vary, modify and/or supplement the KYC Requirements imposed on each User
from time to time.

 

    5

     

    

 

		3.4.3.	In the event that additional documents and information in respect of any User are required for verification
and AML/KYC purposes by NextBank, any governmental or regulatory authority (including any relevant stock exchange), or by any court or
other authority of competent jurisdiction, NextBank shall have the right to obtain such additional documents and information directly
from the User and ABCC shall use all reasonable efforts to assist NextBank in obtaining such additional documents and information from
the User.

 

		3.4.4.	For the avoidance of doubt, there is no obligation on NextBank to open a bank account for any User or
issue a Payment Card to any User unless the KYC Requirements are fulfilled (to the satisfaction of NextBank acting in its sole and absolute
discretion).

 

		3.5.	Exchange between Cryptocurrency and Fiat

 

	 	3.5.1.	Any cryptocurrency-fiat exchange referred to in Clause 3.2.2 shall take place wholly on the ABCC Exchange and ABCC shall be fully responsible for operating such cryptocurrency-fiat exchange.
	 	 	 
	 	3.5.2.	ABCC and NextBank shall cooperate to develop and implement a system and/or interface for the syncing of the account opened by the User with NextBank for the deposit of fiat currency with the account opened by the User with the ABCC Exchange for the deposit of cryptocurrencies such that the User will be able to view his cryptocurrency balance in the account held with the ABCC Exchange and his fiat currency balance held with NextBank, and trade between cryptocurrencies and fiat currency, on the ABCC Exchange interface.

 

		3.6.	Staking
Account

 

	 	3.6.1.	ABCC shall be responsible for arranging for the Staked Cryptocurrency to be deposited in the Staking Account and ensuring that the Staking Account is a separate, segregated account that only contains the Staked Cryptocurrency. ABCC shall provide all supporting documents as may be required by NextBank to verify that the Staking Account is a separate, segregated account.
	 	 	 
	 	3.6.2.	
    Prior to NextBank having obtained the
    requisite approvals and consent from the Commissioner of Financial Institutions of Puerto Rico or any other relevant regulatory authority
    to be a custodian of cryptocurrency assets (the “Pre-Approval Period”), the Staking Account shall be wholly controlled
    and operated by ABCC and ABCC shall be responsible for procuring and ensuring that the liquidation of the Staked Cryptocurrency in each
    User’s Staking Account takes place in accordance with Clause

     

    3.7. NextBank shall not act as a custodian
    or provide any custody services in respect of the Staked Cryptocurrency.

	 	 	 
	 	3.6.3.	ABCC and NextBank shall cooperate to develop and implement a system for the monitoring and reporting of the Staked Cryptocurrency held by each User in his Staking Account. For the duration of this Agreement, ABCC shall be responsible for monitoring and reporting the amount and value of the Staked Cryptocurrency held by each User in his Staking Account to NextBank on a daily basis and shall provide all supporting documents and calculations as may be required by NextBank to verify the information provided. The value of the Staked Cryptocurrency shall be based on spot prices on the ABCC Exchange.

 

    6 

     

    

 

	 	3.6.4.	In the event that NextBank disagrees in relating to the amount and value of the Staked Cryptocurrency reported by ABCC to NextBank for that day pursuant to Clause 3.6.3, NextBank may raise a dispute in relating to the amount and value of the Staked Cryptocurrency reported by ABCC (the “Staked Cryptocurrency Dispute”) and the Parties shall attempt to resolve such dispute through the following procedures:

 

		(i)	The Staked Cryptocurrency Dispute shall be considered to have arisen when NextBank sends a written notice
of the Stake Cryptocurrency Distpute to ABCC.
	 	 	 

		(ii)	The Parties shall resolve such dispute through good faith negotiations by all reasonable and appropriate
means. If the Parties are unable to resolve the dispute within five (5) Business Days from receipt of the written notice of the Staked
Cryptocurrency Dispute unless such time is modified by written agreement of the Parties. , the dispute shall be submitted to mediation.
	 	 	 

		(iii)	If the Staked Cryptocurrency Dispute cannot be resolved by negotiation as set forth in (ii) above, the
Parties agree to submit the Staked Cryptocurrency Dispute in the earliest date to mediation by either Party submitting a written request
for mediation to the other Party in force on the date when the request for mediation is duly given (the “Request Date”).
The number of mediators shall be one (1) which shall be mutually appointed by the Parties and shall share the cost of the mediator equally.
If the Parties cannot agree on the selection of a mediator, then upon request of either Party, Singapore International Mediation Centre
(“SIMC”) shall appoint the mediator.
	 	 	 

		(iv)	The mediator shall determine the amount and value of the Staked Cryptocurrency for the relevant day and
shall deliver a written certificate to Parties certifying the amount and value of the Staked Cryptocurrency for the relevant day within
twenty (20) business days from the Request Date unless the Parties mutually agree in writing to longer period. The certificate issued
by the mediator shall be final and binding on the Parties. The Parties may argue the certificate issued by the mediator only in the absence
of fraud or manifest error. In such cases, the Staked Cryptocurrency Dispute shall be settled by arbitration as described in Clause 19.2.

 

		3.6.5.	Upon NextBank having obtained the requisite approvals and consent from the Commissioner of Financial Institutions
of Puerto Rico or any other relevant regulatory authority to be a custodian of the Staked Cryptocurrency (the “Custodian Approval”),
the Staking Account shall be jointly controlled and operated by NextBank and ABCC. NextBank shall have the right to sell, transfer, liquidate
and/or otherwise deal with the Staked Cryptocurrency directly in accordance with Clause 3.7 and NextBank shall in the first instance directly
procure the liquidation of the Staked Cryptocurrency in each User’s Staking Account in accordance with Clause 3.7. ABCC shall provide
all necessary assistance and perform such acts as may be required for the purpose of NextBank taking over and having joint control of
the Staking Account, including the issuance of any power of attorney and/or sharing of any custodial functions over the Staked Cryptocurrency
with NextBank, and for the purposes of NextBank liquidating the Staked Cryptocurrency in accordance with this Agreement.

 

		3.6.6.	In the event that NextBank fails to obtain the Custodian Approval, such event shall not be deemed in any
way to constitute a material breach of this Agreement. In this foregoing event, the control and the operation of the Staking Account shall
be the same with the Pre-Approval Period as described in Clause 3.6.2.

 

		3.7.	Available Credit under Payment Cards

 

		3.7.1.	The maximum amount that a User can borrow from NextBank under a Payment Card (the “Available
Credit”) shall be based on the value of the Staked Cryptocurrency held in the User’s Staking Account and shall be calculated
as follows:

 

Available Credit = ∑ LTVmax x Y (the
“Available Credit Ratio”)

 

		3.7.2.	For the purposes of this Agreement,

 

		(a)	“LR” means the LTV determined by ABCC and approved by NextBank (whose approval shall
not be unreasonably withheld), at which NextBank shall have the right to liquidate the Staked Cryptocurrency
in the Staking Account in accordance with Clause 3.7.5.

 

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		(b)	“LTV” means the loan to value which is calculated by Outstanding Credit / Y.

 

		(c)	“LTVmax” means the maximum LTV determined by ABCC and approved by NextBank (whose approval
shall not be unreasonably withheld) which shall be applicable to the underlying cryptocurrency asset that has been placed by the User
in his Staking Account.

 

		(d)	“Y” means the value of the Staked Cryptocurrency placed by the User in his Staking
Account.

 

For illustrative purposes only, assuming
that the Staked Cryptocurrency that has been placed by the User in his Staking Account is Bitcoin with a value of $1000 and the LTVmax
for bitcoin is 30.0%, the Available Credit will be $300 (30.0% of $1000).

 

		3.7.3.	A User shall be informed and required by ABCC to top up the Staked Cryptocurrency in his Staking Account,
within 24 hours of being informed, in the event that the amount borrowed by the User from NextBank under a Payment Card (the “Outstanding
Credit”) exceeds the Available Credit due to a fall in the value of the Staked Cryptocurrency or any other reason whatsoever
such that:

 

LR ≥ LTV > LTVmax

 

		3.7.4.	If the top-up referred to in Clause 3.7.3 is not completed by the User within 24 hours of ABCC informing
the User that such top-up is required to be made, NextBank shall have the right to sell and/or otherwise liquidate part or all of the
Staked Cryptocurrency in the User’s Staking Account to repay the Outstanding Credit in order to maintain the Available Credit Ratio
such that Outstanding Credit is equal to Available Credit (i.e. Outstanding Credit = LTVmax x Y = Available Credit). The liquidation shall
be carried out by the relevant Party in accordance with Clauses 3.6.2 and 3.6.5 above.

 

		3.7.5.	In the event that the LTV is equal to or exceeds LR at any time (i.e. LTV ≥ LR), NextBank shall have
the automatic right to sell and/or otherwise liquidate part or all of the Staked Cryptocurrency in the User’s Staking Account immediately
in order to repay the full amount of the Outstanding Credit to NextBank. The liquidation shall be carried out by the relevant Party in
accordance with Clauses 3.6.2 and 3.6.5 above.

 

		3.7.6.	For illustrative purposes only, assuming that a User places bitcoin in his Staking Account and LTVmax
is set at 30.0% and LR is set at 40.0%, and the User has an Outstanding Credit of $300:

 

		(a)	if the bitcoin that the User places in his Staking Account has a value of $850 following a fall in the
value of bitcoin such that LTV increases to 35.3%, this means that LR ≥ LTV > LTVmax. In accordance with Clause 3.7.3, the User
shall be requested to top up the Staked Cryptocurrency in his Staking Account. Assuming the User does not complete the required top-up
in accordance and within the timeline set out in Clause 3.7.3, $64.29 of bitcoin in the Staking Account shall be liquidated in accordance
with Clause 3.7.4. The balance Staked Cryptocurrency in the Staking Account will be $785.71 ($850 less $64.29), the resulting Outstanding Credit
will be $235.71 ($300 less $64.29) and the Available Credit will be $235.71 (30.0% of $785.71). Following the liquidation, the Available
Credit Ratio has been maintained and Available Credit is equal to the resulting Outstanding Credit.

 

		(a)	if the bitcoin that the User places in his Staking Account
has a value of $750 following a fall in the value of bitcoin such that LTV increases to 40.0%, this would mean that LTV ≥ LR. $300
of bitcoin in the Staking Account shall be automatically liquidated in accordance with Clause 3.7.5. The balance Staked Cryptocurrency
in the Staking Account will be $450 ($750 less $300), the resulting Outstanding Credit will be $0 ($300 less $300) and the Available
Credit will be $135 (30% of $450).

 

    8

     

    

 

		3.7.7.	For the avoidance of doubt, there is no obligation on NextBank to extend any credit under the Payment
Card to any User unless the Available Credit Ratio has been maintained in accordance with this Clause 3.7 and LTV is lower than LR at
all times. Except as expressly provided in this Agreement, NextBank reserves the right to suspend a User’s account with NextBank
and to suspend all credit extended under the Payment Card until the Available Credit Ratio has been maintained.

 

		3.8.	Reserves by ABCC

 

		3.8.1.	The total credit available to all Users on the ABCC Exchange (“TAC”) shall be the lower
of:

 

		(a)	Reserve = 1 x TAC (the “Minimum Reserve Ratio”); and

 

		(b)	the sum of AC extended to all Users of Payment Cards.

 

		3.8.2.	In the event that liquidating the whole of the Staked Cryptocurrency in the Staking Account is insufficient
to maintain the Available Credit Ratio, or if there are any delays in reconciliation and calculation of the Available Credit for any reason
whatsoever (including any technical reasons), ABCC shall be required to deposit additional cash reserves (“Reserve”)
with NextBank to cover the difference between the Outstanding Credit and Available Credit.

 

		3.8.3.	The reconciliation of the Reserve shall take place daily. In the event that the total amount borrowed
by all Users on the ABCC Exchange (“TOC”) exceeds TAC after the daily reconciliation, NextBank shall remove the difference
between TOC and TAC from the Reserve until the Minimum Reserve Ratio is maintained.

 

		3.8.4.	In the event that the Minimum Reserve Ratio is not maintained within 72 hours, NextBank shall have the
right to suspend all credit extended under all Payment Cards until the Minimum Reserve Ratio has been reinstated.

 

		3.8.5.	The Parties shall jointly agree on any downwards adjustment to the Minimum Reserve Ratio from time to
time.

 

		3.8.6.	For the avoidance of doubt, there is no obligation on NextBank to extend any credit under the Payment
Card to any User unless the Minimum Reserve Ratio has been maintained in accordance with this Clause 3.8. Except as expressly provided
in this Agreement, NextBank reserves the right to suspend a User’s account with NextBank and to suspend all credit extended under
the Payment Card until the Minimum Reserve Ratio has been maintained.

 

		3.9.	Late Payment on Payment Cards

 

Users are required to settle all credit
extended under Payment Cards within 30 days. In the event of late payment, NextBank shall be entitled to charge interest on the outstanding
amounts at the rate of 5% per annum calculated on a daily basis payable on the outstanding amount until the outstanding amount is received
in full by NextBank.

 

		4.	EXCLUSIVITY

 

		4.1.	For a period of three (3) years from the Effective Date (or such other period as may be
                                                          mutually agreed by the Parties) (the “Exclusivity Period”) and for as long as this Agreement is not terminated,
                                                          the Parties shall not directly or indirectly, solicit, initiate or enter into any discussion or collaborate with any third party in
                                                          relation to the provision of payment cards to users of the ABCC Exchange or other same or similar offerings in the Singapore Market
                                                          including but not limited to cryptocurrency exchanges and companies in the crypto and blockchain space. The Parties shall use commercially reasonable efforts to promote the joint offerings to ensure the success of the Project.

 

    9

     

    

 

		4.2.	Unless otherwise specified in Clause 4.3, any revenue arising from the Project shall be shared by NextBank
and ABCC in a 70%:30% ratio of the revenue.

 

		4.3.	In the event that NextBank partners with another cryptocurrency exchange (“Partner”)
in the Singapore Market in relation to the provision of payment cards to users of that cryptocurrency exchange, all revenue arising from
such partnership and received by NextBank shall be shared by NextBank and ABCC in the following ratios:

 

		4.3.1.	if the Partner was sourced by ABCC and subsequently introduced or referred by ABCC to NextBank, any revenue
arising from such partnership shall be shared by Nextbank and ABCC in a 80%:20% ratio of the revenue; and

 

		4.3.2.	if the Partner was sourced directly by NextBank, any revenue arising from such partnership shall be shared
by Nextbank and ABCC in a 90%:10% ratio of the revenue.

 

		4.4.	In connection with NextBank entering into any partnership with another cryptocurrency exchange as referred
to in Clause 4.3 above, the Parties shall enter into a written agreement to agree on the terms and conditions for the sharing of revenue
provided always that such written agreement shall incorporate the revenue sharing ratios agreed on in Clause 4.3. For the avoidance of
doubt, in the event that Parties have not entered into such written agreement at the time that NextBank as entered into a partnership
with another cryptocurrency exchange, the revenue sharing ratios agreed on in Clause 4.3. shall still apply.

 

		5.	UNDERTAKINGS

 

		5.1.	Each Party shall facilitate regular discussions and collaboration between appropriate members of its personnel
and those of the other Party in relation to the Phase 1 Project and the Project, including but not limited to developing and implementing
the Relevant Systems.

 

		5.2.	Each Party shall provide the other Party with reasonable access to its IT and other systems during business
hours and provide the other Party with the necessary IT and operational information required for the purposes of this Agreement, including
implementing the Phase 1 Project and the Project, including the Relevant Systems.

 

		5.3.	Each Party shall promptly bring to the notice of the other Party any material information which is likely
to be of use to or benefit to, or likely to adversely affect, the interests of the other Party under this Agreement.

 

		5.4.	Each Party shall display any disclaimer necessary, or such other disclaimer provided by the other Party
from time to time in order to be compliant with applicable laws, regulations, guidelines and directives.

 

		5.5.	Each Party shall in relation to the obligations allocated to it under this Agreement:

 

		5.5.1.	perform such obligations and use reasonable care and skill in performing such obligations;

 

		5.5.2.	comply with good industry practice;

 

		5.5.3.	comply with all laws applicable to it;

 

		5.5.4.	obtain and maintain consents, licences and permissions (statutory, regulatory, contractual or otherwise)
that are necessary to enable it to comply with such obligations;

 

    10

     

    

 

		5.5.5.	ensure that it uses employees and agents in performing its obligations who are suitably qualified and
experienced;

 

		5.5.6.	not incur any liability on behalf of the other Party without their prior written consent; and

 

		5.5.7.	not making any representations or give any warranties on behalf of the other Party without their prior
written consent.

 

		6.	NEGATIVE COVENANTS

 

Neither Party may not provide to any
of its customers or users any information, or make any representation, relating to the other Party’s products or services, unless that
information or representation is approved in writing by that Party for use in those circumstances

 

		7.	REPRESENTATIONS AND WARRANTIES

 

		7.1.	Each Party represents and warrants that:

 

		7.1.1.	it has full power and authority to carry out the actions contemplated under this Agreement;

 

		7.1.2.	its entry into and performance under the terms of this agreement will not infringe the Intellectual Property
Rights of any third party or cause it to be in breach of any obligations to a third party;

 

		7.1.3.	all information, data and materials provided by it under this Agreement will be accurate and complete
in all material respects; and

 

		7.1.4.	it shall at all times during the term of this Agreement hold all licences, registrations, certificates,
permits, exemptions and authorities necessary to carry on its business and to act as required by this Agreement and required by all applicable
laws, regulations, guidelines and directives, and it will promptly comply with the requirements of all applicable laws, regulations, guidelines
and directives.

 

		7.2.	ABCC represents and warrants as of the date of this Agreement that:

 

		7.2.1.	has been granted an exemption from the MAS in respect of holding a licence to provide account issuance
services and DPT services under the PS Act;

 

		7.2.2.	it has submitted an application to the MAS for a licence to provide account issuance services and DPT
services under the PS Act;

 

		7.2.3.	the application referred to in Clause 7.2.2 above has not been rejected by the MAS; and

 

		7.2.4.	take all reasonable steps for the purpose of complying with applicable anti-money laundering, anti-terrorism
financing and anti-bribery laws.

 

		7.3.	The ABCC shall notify NextBank promptly in the event that any of the representations and warranties referred
to in Clause 7.2 are no longer true or if ABCC becomes aware of any event of grounds which may result in the MAS rejecting the application
referred to in Clause 7.2.2.

 

		8.	INDEMNITY

 

Each Party (“indemnifying party”)
shall indemnify the other Party (“indemnified party”) against all liabilities, costs, expenses, damages and losses
(including but not limited to any direct, indirect or consequential losses, loss of profit, loss of reputation and all interest, penalties
and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses) suffered or incurred
by the indemnified party arising out of or in connection with any claim made against the indemnified party arising from a breach of the
provisions of this Agreement by the indemnifying party.

 

    11

     

    

 

		9.	TERMINATION

 

		9.1.	Without affecting any other right or remedy available to it, either Party may terminate this Agreement
with immediate effect by giving written notice to the other Party if:

 

		9.1.1.	the other Party commits a material breach of any term of this agreement which breach is irremediable or
(if such breach is remediable) fails to remedy that breach within a period of fifteen (15) days after being notified in writing to do
so;

 

		9.1.2.	if any action, proceedings, procedure or step is taken in any jurisdiction for or in connection with the
winding up, dissolution or other insolvency procedures or re- organisation of the other Party or the appointment of a liquidator or other
similar officer in respect of the other Party or any of its assets;

 

		9.1.3.	if the other Party suspends, or threatens to suspend, payment of its debts or is unable to pay its debts
as they fall due or admits inability to pay its debts, or is wound up;

 

		9.1.4.	if the other Party commences negotiations with all or any class of its creditors with a view to rescheduling
any of its debts, or makes a proposal for or enters into any compromise or arrangement with its creditors;

 

		9.1.5.	if any event occurs, or any action, proceedings, procedure or step is taken, with respect to the other
Party in any jurisdiction that has an effect equivalent or similar to any of the events mentioned in Clauses 9.1.3 and 9.1.4;

 

		9.1.6.	if the other Party suspends or ceases, or threatens to suspend or cease, carrying on all or a substantial
part of its business; and/or

 

		9.1.7.	if any warranty given by the other Party in this Agreement is found to be untrue or misleading.

 

		9.2.	Without affecting any other right or remedy available to each Party, each Party may terminate this Agreement
with immediate effect by giving written notice to the other Party if:

 

		9.2.1.	there is a Change of Control of any Party that occurs without the prior written consent of the other Party;

 

		9.2.2.	if ABCCceases to hold an exemption from holding a licence to provide account issuance services and DPT
services for any reason and no payment services licence has been granted by MAS to ABCC to provide account issuance services and DPT services
under the PS Act;

 

		9.2.3.	if ABCC’s application for a payment services licence to provide account issuance services and DPT
services under the PS Act is rejected by the MAS; and/or

 

		9.2.4.	if the payment services licence to provide account issuance services and DPT services under the PS Act
granted to ABCC is revoked or rescinded for any reason.

 

	9.3.	Each Party shall inform the other Party immediately on the occurrence of any of the termination events
set out in Clause 9.1 and ABCC shall inform NextBank immediately on the occurrence of any of the termination events set out in Clause
9.2.
	 	 

		9.4.	If either Party seeks to terminate this Agreement without causes described in Clause 9.1 or 9.2, they
may do so by mutual written consent.

 

		9.5.	Any termination of this Agreement shall not affect any accrued rights, obligations and liabilities of
any Party under this Agreement. The right to terminate this Agreement under Clauses 9.1 and 9.2 shall not prejudice any other right or remedy of any Party in respect of the breach concerned (if any) or any other breach.

 

    12

     

    

 

		10.	DATA PROTECTION

 

		10.1.	Each Party shall, at its own expense, ensure that it complies with and assists the other Party to comply
with the requirements of all legislation and regulatory requirements relating to the use of personal data and the privacy of electronic
communications which are applicable, including but not limited to the General Data Protection Regulation ((EU) 2016/679), in the
performance of their respective obligations under this Agreement.

 

		10.2.	Without prejudice to Clause 10.1, ABCC shall ensure that it complies with all legislation and regulatory
requirements relating to the use of personal data and the privacy of electronic communications which are applicable, including but not
limited to the General Data Protection Regulation ((EU) 2016/679), in the performance of its obligations under this Agreement,
including in relation to the collection of personal data from the Users, the transfer of personal data of Users to NextBank to satisfy
the KYC Requirements, the grant of access to the IT and operational systems of the ABCC Exchange to NextBank for the purposes of developing
and implementing the Relevant Systems and the grant of access to the Staking Accounts of the Users to NextBank, in each case in accordance
with this Agreement.

 

		11.	INTELLECTUAL PROPERTY

 

		11.1.	The parties agree that each Party’s Intellectual Property Rights shall remain it sole property and
this Agreement does not transfer any interest in the Intellectual Property Rights owned by a Party.

 

		11.2.	Each Party may only use the other party’s Intellectual Property Rights with the prior written consent
of the other Party.

 

		11.3.	Subject to Clauses 11.4 and 11.5, all Intellectual Property Rights arising out of the Relevant Systems
(the “Created Intellectual Property”) shall be the sole property of NextBank. All costs incurred with respect to the
development and implementation of the Relevant Systems shall be borne by NextBank.

 

		11.4.	NextBank hereby grants ABCC a non-exclusive, royalty-free licence during the duration of this Agreement
to use the Created Intellectual Property in relation to the Project and this Agreement only. Upon the termination or cessation of this
Agreement, ABCC shall cease to use the Created Intellectual Property and shall return any physical embodiment of the Created Intellectual
Property (including any copies) in its possession or control to NextBank.

 

		12.	ANTI-CORRUPTION

 

		12.1.	Each Party shall in relation to this Agreement:

 

		12.1.1.	comply with all applicable laws, statutes and regulations relating to anti-bribery and anti-corruption

 

		12.1.2.	have and shall maintain in place throughout the term of this agreement its own policies and procedures
to ensure compliance with all applicable laws, statutes and regulations relating to anti-bribery and anti-corruption;

 

		12.1.3.	promptly notify the other Party (in writing) if it becomes aware of any breach of Clauses 12.1.1 and 12.1.2.

 

		12.2.	Each Party shall provide such supporting evidence of compliance as the other Party may reasonably request.

 

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		13.	CONFIDENTIALITY

 

		13.1.	Subject to Clause 13.2:

 

		13.1.1.	each Party shall treat as strictly confidential and not disclose or use any information received or obtained
as a result of it entering into this Agreement which relates to the provisions of this Agreement or the negotiations relating to this
Agreement; and

 

		13.1.2.	each Party shall, and shall procure and ensure that its subsidiaries shall, treat as strictly confidential
and not disclose or use any information, whether in written or any other form, which has been disclosed to it by or on behalf of the other
Parties in confidence or which by its nature ought to be regarded as confidential.

 

		13.2.	The confidentiality obligations in Clause 13.2 shall not apply to any information:

 

		13.2.1.	which is required to be disclosed by law, or by any stock exchange or governmental or other regulatory
or supervisory body or authority having jurisdiction over the disclosing Party (including but not limited to the NASDAQ);

 

		13.2.2.	which becomes generally known to the public, other than by reason of any wilful or negligent act or omission
of any Party or any of its employees;

 

		13.2.3.	which is, at the time of disclosure, legally in the possession of the Party to which such information
is to be furnished (as evidenced by written records);

 

		13.2.4.	which subsequently comes into the lawful possession of the Party receiving such information or its authorised
recipient from a third party who is not in breach of any duty of confidence with regard to the information;

 

		13.2.5.	which is required to be disclosed pursuant to any applicable legal requirement or legal process issued
by any court or any competent government authority or rules or regulations of any relevant regulatory body including the rules promulgated
by any stock exchange (including but not limited to any listing rules and regulations of a stock exchange);

 

		13.2.6.	which any Party is required to disclose to a third party in order to perform its obligations under or
pursuant to this Agreement;

 

		13.2.7.	of a Party where such Party has given prior written approval to the disclosure or use; and

 

		13.2.8.	which is independently developed by the recipient.

 

		14.	ANNOUNCEMENTS

 

		14.1.	Subject to Clause 14.1, no Party shall make, or permit any person to make, any public announcement, communication
or circular (announcement) concerning the existence, subject matter or terms of this Agreement, the wider transactions contemplated
by it (including the Phase 1 Project and the Project), or the relationship between the parties, without the prior written consent of the
other parties (such consent not to be unreasonably withheld or delayed).

 

		14.2.	Clause 14.1 shall not apply to any announcement is required by law or any governmental or regulatory authority
(including, without limitation, any relevant stock exchange including but not limited to NASDAQ), or by any court or other authority of
competent jurisdiction, provided that the party required to make the announcement shall promptly notify the other Party and to the extent
permissible make all reasonable attempts to agree the contents of the announcement before making it.

 

		15.	NOTICES

 

		15.1.	Any notice or other communication to be given by a Party to the other Parties under, or in connection
with, this Agreement shall be in writing and in English, and signed by or on behalf of the Party giving it. It shall be served
by sending it by electronic mail or facsimile to the number as set out in Clause 15.2 or delivering it by hand or sending it by pre-paid
post, to the address set out in Clause 15.2 (or as otherwise notified from time to time in accordance with the provisions of Clause 15.3.
A notice so served by electronic mail, facsimile, hand or post shall be deemed to have been given:

 

		15.1.1.	in the case of electronic mail or facsimile, at the time of transmission;

 

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		15.1.2.	in the case of delivery by hand, when delivered; and

 

		15.1.3.	in the case of post, on the second (2nd) Business Day after the date of posting (if sent by local mail)
and on the seventh (7th) Business Day after the date of posting (if sent by air mail;

 

provided that in each case where delivery by electronic mail,
facsimile or by hand occurs after 6 pm on a Business Day or on a day which is not a Business Day, a service shall be deemed to occur at
9 am on the next following Business Day. References to time in this clause are to local time in the country of the addressee.

 

		15.2.	The electronic mail addresses, addresses and facsimile numbers of the Parties for the purpose of Clause 15.1 are as follows:

 

	 	Nextbank International, Inc	 
	 	Address	: 		 
	 	Email Address	: 	 	 
	 	Attention	: 	 	 
	 	 	 	 	 
	 	Alphabit Consulting Pte. Ltd.	 
	 	Address	: 	 	 
	 	Email Address	: 	 	 
	 	Attention	: 	 	 

 

		15.3.	Each Party may notify the other Parties of a change to its name, electronic mail address, address or facsimile
number for the purposes of this Clause, provided that, such notice shall only be effective on the date specified in the notice as the
date on which the change is to take place or if no date is specified or the date specified is less than five (5) Business Days after the
date on which notice is given, the date following five (5) Business Days after notice of any change has been given.

 

		16.	COSTS AND EXPENSES

 

Except as expressly provided in this
Agreement, each Party shall bear all costs, fees and expenses incurred by it in connection with the preparation, review, negotiation,
execution, delivery and/or performance of this Agreement.

 

		17.	GENERAL

 

		17.1.	Assignment

 

		17.1.1.	Subject to Clause 17.1.2, neither Party shall assign, transfer, mortgage, charge, subcontract, declare
a trust over or deal in any other manner with any or all of its rights and obligations under this Agreement without the prior written
consent of the other Party.

 

		17.1.2.	Either Party may, after having given prior written notice to the other Party, assign or subcontract any
or all of its rights and obligations under this Agreement to a member of its Group for so long as that company remains a member of the
assignor’s Group. The assignor shall procure that such assignee assigns any rights assigned to it in accordance with this Clause back
to the assignor or another member of the assignor’s Group immediately before it ceases to be a member of the assignor’s Group.

 

    15

     

    

 

	17.2.	Variation

 

No variation of this Agreement shall
be effective unless it is in writing and signed by the Parties

 

	17.3.	Severance

 

If any provision
or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent
necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part- provision shall
be deemed deleted. Any modification to or deletion of a provision or part- provision under this Clause shall not affect the validity and
enforceability of the rest of this Agreement.

 

	17.4.	Entire Agreement

 

This Agreement constitutes the entire
agreement among the Parties and supersedes any previous written or oral agreement and understandings among the Parties with respect to
the subject matter hereof.

 

	17.5.	No Partnership or Agency

 

Nothing in this Agreement is intended
to, or shall be deemed to, establish any partnership between any of the parties, constitute any Party the agent of another Party, or authorise
any Party to make or enter into any commitments for or on behalf of any other Party.

 

	17.6.	Waiver

 

		17.6.1.	A waiver of any right or remedy under this Agreement or by law is only effective if given in writing and
shall not be deemed a waiver of any subsequent breach or default.

 

		17.6.2.	A failure or delay by a Party to exercise any right or remedy provided under this Agreement or by law
shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any
other right or remedy. No single or partial exercise of any right or remedy provided under this Agreement or by law shall prevent or restrict
the further exercise of that or any other right or remedy.

 

	17.7.	Counterparts

 

This Agreement may be executed in any
number of counterparts, each of which when executed shall constitute a duplicate original, but all the counterparts shall together constitute
the one agreement. The exchange of a fully executed Agreement (in counterparts or otherwise) by facsimile or by electronic delivery in
..pdf format shall be sufficient to bind the Parties to the terms and conditions of this Agreement.

 

	17.8.	Third Party Rights

 

A person who is not a party to this Agreement
shall have no right under the Contracts (Rights of Third Parties) Act (Cap. 53B of Singapore) to enforce any of its terms.

 

	17.9.	Further Assurance

 

Each Party shall, and shall use all reasonable
endeavours to execute and deliver such documents and perform such acts as may be required for the purpose of giving full effect to this
Agreement.

 

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	18.	FORCE MAJEURE

 

	18.1.	For purposes of this Clause, “force majeure” means an event beyond the reasonable control
of either Party, which by its nature could not have been foreseen by such Party, or, if it could have been foreseen, was unavoidable,
and includes acts of God, storms, floods, fires, sabotage, civil commotion or civil unrest, interference by civil or military authorities,
threat, acts of war (declared or undeclared) or acts of terrorism and pandemics.

 

	18.2.	Neither Party shall be under any liability for failure to fulfill any obligation under this Agreement,
so long as and to the extent the fulfillment of such obligation is prevented, frustrated, hindered, or delayed as a consequence of circumstances
of force majeure, provided, that such Party shall have used commercially reasonable efforts to minimize to the extent practicable the
effect of force majeure on its obligations hereunder. The Party affected by the force majeure event shall notify the other Party of that
fact as soon as practicable.

 

	18.3.	If the force majeure in question continues for a continuous period in excess of ninety (90) days, the
Parties shall enter into discussions in good faith with a view to alleviating its effects, or agreeing upon such alternative arrangements
as may be fair and reasonable failing which the other Party shall be entitled to elect to terminate this Agreement by notice in writing
to the Party affected by the force majeure event.

 

	19.	GOVERNING LAW AND JURISDICTION

 

	19.1.	This Agreement and any dispute or claim (including non-contractual disputes or claims) arising out of
or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the laws of Singapore.

 

	19.2.	Unless otherwise specified in this Agreement, any dispute arising out of or in connection with this Agreement,
including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in Singapore
in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC”) for the time being
in force, which rules are deemed to be incorporated by reference in this Clause. The arbitral tribunal shall consist of one arbitrator
to be appointed by the President of the SIAC. The language of the arbitration shall be English and the seat of arbitration shall be in
Singapore.

 

	19.3.	Notwithstanding Clause 19.2, at its sole option, it is agreed that NextBank, may choose, instead of arbitration,
to submit any such claim before the courts of Singapore which shall have exclusive jurisdiction in relation to any dispute. In such case,
each Party irrevocably submits to the jurisdiction of the Singapore courts and waives any objection to the exercise of that jurisdiction.

 

    17

     

    

 

In witness whereof this Agreement has been entered into
on the date stated at the beginning.

 

	Signed for and on behalf of	)	 	 	 
	NEXTBANK INTERNATIONAL, INC	)	 	 	 
	 	)	 	 	 
	 	)	 	/s/ Jorge
    Miro                               08/22/2022	 
	In the presence of:	) 	 	Signature of Director/Authorised Signatory	 

 

	 	 
	Signature of Witness	 
	Name of Witness:	 

  

	Signed for and on behalf of	)	 	 	 
	ALPHABIT CONSULTING PTE. LTD.	)	 	 	 
	 	)	 	 	 
	 	)	 	/s/ Alan Li                                    08/22/2022	 
	In the presence of:	)	 	Signature of Director/Authorised Signatory	 

	 	 
	 	 
	Signature of Witness	 
	Name of Witness:	 

 

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Schedule
1

 

Phase 1 Project

 

The terms of the Phase 1 Project are set out below.

 

	1.	ABCC shall purchase Porta from NextBank using fiat currency.

 

	2.	The fiat currency paid by ABCC to NextBank for the purchase of Porta shall be maintained by NextBank in
a segregated reserve account (the “ABCC Porta Reserve”). ABCC shall purchase such amount of Porta in order to maintain
a minimum amount of fiat currency in the ABCC Porta Reserve (the “Minimum Prepaid Card Reserve”). The amount of the
Minimum Prepaid Card Reserve shall be mutually agreed between the Parties.

 

	3.	NextBank shall pay interest on the fiat currency maintained in the ABCC Porta Reserve based on the prevailing
interest rates offered by NextBank on fiat deposits from time to time.

 

	4.	Subject to a User having satisfied all KYC Requirements, NextBank shall on the application of such User,
open a prepaid card in the name of the User for the deposit of fiat currency (the “NextBank Prepaid Card Account”)
(unless the User already has an existing account with NextBank and issue prepaid payment cards to the User (the “Prepaid Card”)
and.

 

	5.	All obligations of the Parties set out in in Clause 3.4 relating to the verification of Users shall apply
in relation to the Phase 1 Project.

 

	6.	Where the User purchases Porta on the ABCC Exchange and sends it to the NextBank Exchange Account on ABCC
(the “NextBank Exchange Account”). NextBank shall transfer fiat currency, equivalent to the amount of Porta sent by
the User, from the ABCC Porta Reserve to the User’s NextBank Prepaid Card Account.

 

	7.	ABCC and NextBank shall cooperate to develop and implement a system and/or interface for the syncing of
the NextBank Prepaid Card Account and the NextBank Exchange Account such that the User will be able to view his his fiat currency balance
held with NextBank on the ABCC Exchange interface.

 

	8.	ABCC shall not itself, nor shall it allow any of its customers to send Porta to any person, address, or
wallet outside of ABCC except as expressly permitted by NextBank. ABCC acknowledges that Porta issued to ABCC may only be transacted between
ABCC customers and may not be traded outside the ABCC Exchange

 

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Schedule 2

 

KYC Requirements

 

 

 

 

 

 

 

 

 

    20

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