Document:

Exhibit
10.7

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed. 

 

LICENCE
AGREEMENT

 

This
Agreement is made the 31st. day of October 2020 between

 

ETPL
TECHNOLOGIES PTE LTD (Co. Reg. No. 199503187D), a company incorporated in Singapore and having its place of business at 1 Fusionopolis
Way, #19-10 Connexis North, Singapore 138632 (hereinafter referred to as “ETPL”) of the first part; and

 

LICENSEE,
full details of which are set out in Schedule 1, of the second part.

 

RECITAL

 

	A.	ETPL
                                            has the right to license the Technology and is entitled to grant the rights under this Agreement.

 

	B.	LICENSEE
                                            wishes to acquire rights to license and use the Technology, in the Field subject to the terms
                                            and conditions herein.

 

NOW
THEREFORE, in consideration of the mutual covenants and conditions set forth herein, ETPL and LICENSEE hereby agree as follows:-

 

	1.	DEFINITIONS

 

“Confidential
Information” means all information of ETPL or ETPL’s Affiliates, including prototypes and samples, which may be disclosed
to LICENSEE at any time and from time to time during the Term of this Agreement, which may be identified or designated by ETPL as proprietary,
confidential or secret and includes information which by its nature should be proprietary, confidential or secret. The specific terms
and conditions of this Agreement shall be deemed to be Confidential Information.

 

“Confidential
Information” shall not include any information or material that is: (i) already in the possession of LICENSEE without prior
restriction; (ii) independently developed by LICENSEE; (iii) publicly disclosed by ETPL; (iv) rightfully received by LICENSEE from a
third party; (v) approved for release by written agreement with ETPL or (vi) made available by ETPL to others without restriction.

 

“Documentation”
means any user guides, instruction manuals and other documents whether in written or machine-readable form relating to the Technology.

 

“Effective
Date” means the effective date of this licence as set out in Schedule 1 of this Agreement.

 

“Enhancements”
means all new versions of, modifications, additions, improvements, upgrades and development to the Technology developed by LICENSEE.

 

“ETPL’s
Affiliates” means the Agency for Science, Technology and Research (“A*STAR”) and all the research institutes and
centres managed and funded by A*STAR.

 

“Field”
means the field of use as described in Schedule 1 of this Agreement.

 

“Intellectual
Property” means patent(s), know-how and intellectual property rights (including without limitation patents, copyrights, designs,
trade secrets, and rights in Confidential Information) worldwide arising under statutory or common law, and whether or not perfected,
and any applications of the foregoing.

 

“Licensed
Products” means the products as described in Schedule 1 of this Agreement.

 

“Licensee’s
Affiliates” shall have the same meaning as ascribed to a “related corporation” under the Companies Act CAP.50.

 

“Royalties”
means the amounts payable by LICENSEE to ETPL as set out in Schedule 1.

 

“Sales
Report” means the sales report as set out in Schedule 3 to be submitted by LICENSEE to ETPL pursuant to this Agreement.

 

“Technology”
means the technology as described in Schedule 1 of this Agreement.

 

“Term”
means the period of time as set out in Schedule 1 of this Agreement.

 

“Territory”
means the countries as set out in Schedule 1 of this Agreement.

 

    	 

    	 

    

 

	2.	GRANT

 

		2.1	ETPL
                                            hereby grants to LICENSEE and its Affiliates a non-exclusive, non-sublicensable, non–transferable,
                                            revocable for cause licence to use the Technology within the Field for the Term and in the
                                            Territory to develop Enhancements and use, make, have made, manufacture, distribute, market,
                                            import, export, sell and have sold Licensed Products.

 

		2.2	Nothing
                                            in this Agreement shall prejudice ETPL’s right to use and to allow ETPL and ETPL’s
                                            Affiliates to use, further develop, license or otherwise commercialise the Technology as
                                            they deem fit.

 

		2.3	ETPL
                                            shall not be obliged to render any technical assistance, maintenance or support services
                                            to LICENSEE in respect of the Technology or otherwise.

 

		2.4	Except
                                            as expressly provided in this Agreement or with the prior written consent of ETPL, LICENSEE
                                            shall not modify, adapt, translate, alter, copy, reproduce, deal in, reverse engineer, decompile,
                                            disassemble or create any derivative works based on the whole or any part of the Technology.

 

	3.	FINANCIAL
  TERMS

 

		3.1	In
                                            consideration of the rights granted pursuant to Clause 2 above, LICENSEE shall pay to ETPL:-

 

		3.1.1	the
                                            licence fee stated in Schedule 1 (“Licence Fee”); and

 

		3.1.2	Royalties
                                            in accordance with the royalty scheme set out in Schedule 1 together with the Sales Reports,
                                            in the manner set out in Schedule 3.

 

		3.2	Time
                                            of payment shall be of the essence. If LICENSEE fails to make any payment due to ETPL, ETPL
                                            shall have the right to:

 

		3.2.1	forthwith
                                            suspend or terminate the Licence hereby granted to LICENSEE; and

 

		3.2.2	charge
                                            LICENSEE, in respect of any and all overdue payments, interest at the rate of [*****] above
                                            the annual prime lending rate of the Development Bank of Singapore from such date until said
                                            amount is paid in full to ETPL.

 

	4.	ACCOUNTS

 

		4.1	LICENSEE
                                            shall keep true and accurate accounts and records in sufficient detail to enable the amount
                                            of all Royalties or other sums payable under this Agreement to be determined. ETPL has the
                                            right to request for LICENSEE to submit details of its accounts and records to support the
                                            information provided in the Sales Report.

 

		4.2	ETPL
                                            may, annually and at its own cost, appoint an independent auditor to examine LICENSEE’s
                                            books and records to verify LICENSEE’s fulfilment of its obligations under this Agreement.
                                            Notwithstanding the foregoing, the cost of such audit conducted shall be borne in full by
                                            LICENSEE if any discrepancy exceeding [*****] is found in the Royalties stated.

 

		4.3	The
                                            provisions of this Clause 4 shall remain in full force and effect after the termination of
                                            this Agreement for any reasons until the settlement of all subsisting claims of ETPL under
                                            this Agreement.

 

	5.	RIGHTS
IN INTELLECTUAL PROPERTY

 

		5.1	LICENSEE
                                            acknowledges that the Technology may contain Confidential Information of ETPL or ETPL’s
                                            Affiliates and LICENSEE shall treat in confidence any information relating to the Technology,
                                            save for information that is in the public domain through no fault of its obligations herein.

 

		5.2	LICENSEE
                                            shall take all reasonable steps, including, but not limited to, those steps taken to protect
                                            its own information, data or other tangible or intangible property that it regards as proprietary
                                            or confidential, to ensure that the Confidential Information is not disclosed or duplicated
                                            for the use of any third party, and shall take all reasonable steps to prevent its officers
                                            and employees, or any other persons having access to the Confidential Information, from disclosing
                                            or making unauthorised use of any Confidential Information, or from committing any acts of
                                            omissions that may result in a violation of this Agreement.

 

		5.3	LICENSEE
                                            shall not do anything which might bring into question ETPL or ETPL’s Affiliates’
                                            ownership of the Technology licensed by ETPL to LICENSEE under this Agreement or their validity.

 

		5.4	LICENSEE
                                            shall notify ETPL in writing as soon as practicable after it becomes aware of:-

 

		5.4.1	any
                                            actual, threatened or suspected infringement of any Intellectual Property of ETPL in respect
                                            of the Technology or any breach of confidence relating to any of the foregoing; or

 

		5.4.2	any
                                            claim brought against LICENSEE or any other person alleging that its use of the Technology
                                            infringes any Intellectual Property or other rights belonging to or alleged to belong to
                                            the claimant.

 

		5.5	ETPL
                                            or its Affiliates shall have the right but not the obligation, at its option and expense,
                                            to prosecute and defend any and all infringements provided that all damages, costs or other
                                            benefits obtained as a result belongs to ETPL.

 

    	 

    	 

    

 

	6.	NO
WARRANTIES

 

SAVE
THAT ETPL WARRANTS THAT IT HAS FULL RIGHT AND POWER TO ENTER INTO THIS AGREEMENT, ETPL MAKES NO OTHER WARRANTIES CONCERNING THE TECHNOLOGY,
INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE
OR AS TO RELIABILITY, ACCURACY, VALIDITY OR OTHERWISE OF THE TECHNOLOGY. THE TECHNOLOGY IS PROVIDED “AS IS” AND ETPL MAKES
NO WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF THE TECHNOLOGY, OR THAT THE TECHNOLOGY WILL BE FREE FROM INFRINGEMENT OF
PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE IN ANY WAY INFRINGING THE TECHNOLOGY COVERED
BY THIS AGREEMENT.

 

	7.	LICENSEE’S
                                            RESPONSIBILITY 

 

LICENSEE
assumes all responsibility and liability for any loss, damages, costs, expenses or other claim for compensation which arises out of or
in connection with this Agreement, or which in any way relates to the Technology, or its use by LICENSE except to the extent when caused
by the wilful misconduct of ETPL. For avoidance of doubt, in no event shall ETPL be liable for any incidental, consequential or special
damages arising out of or related to this Agreement, including, but not limited to, loss of business opportunity, lost profits or pure
economic loss. Notwithstanding anything to the contrary, ETPL’s total and cumulative liability under this Agreement, however arising,
shall not exceed any amount that LICENSEE has actually paid to ETPL pursuant to this Agreement.

 

	8.	USE OF
  NAME

 

LICENSEE
shall not use the name, trademark or logo of ETPL or ETPL’s Affiliates in any publicity, promotion, news release or disclosure
relating to this Agreement, its subject matter or the sale of the Licensed Products, without the prior written permission of ETPL.

 

	9.	TERMINATION

 

		9.1	LICENSEE
                                            shall be entitled to terminate this Agreement at any time by giving no less than thirty (30)
                                            days written notice to ETPL.

 

		9.2	ETPL
                                            shall be entitled to terminate this Agreement forthwith by giving written notice to LICENSEE
                                            if:-

 

		9.2.1	LICENSEE
                                            commits any breach of this Agreement and if the breach is capable of remedy, fails to remedy
                                            it within thirty (30) days after being given a written notice containing full particulars
                                            of the breach and requiring the remedy of the breach; or

 

		9.2.2	An
                                            encumbrances takes possession, or a receiver is appointed, of any of the property or assets
                                            of LICENSEE; or

 

		9.2.3	LICENSEE
                                            makes any voluntary arrangement with its creditors; or

 

		9.2.4	LICENSEE
                                            goes into liquidation (except for the purpose of amalgamation or reconstruction and so that
                                            the resulting LICENSEE effectively agrees to be bound by or assume the obligations imposed
                                            on the LICENSEE under this Agreement); or

 

		9.2.5	LICENSEE
                                            ceases, or threatens to cease, to carry on business.

 

		9.3	Termination
                                            of this Agreement howsoever caused shall be without prejudice to any other right or remedy
                                            a Party may be entitled to hereunder or at law and shall not affect any accrued rights or
                                            liabilities of either Party.

 

		9.4	Upon
                                            the termination of this Agreement:

 

		9.4.1	LICENSEE
                                            shall forthwith cease to market or use, either directly or indirectly, the Licensed Products
                                            or the Technology or to use any of the Intellectual Property;

 

		9.4.2	LICENSEE
                                            shall destroy or return to ETPL all copies of the Documentation in its possession or control;
                                            and

 

		9.4.3	LICENSEE
                                            shall promptly pay all amounts due under this Agreement to ETPL immediately upon its receipt
                                            of the same and shall submit to ETPL written confirmation signed by a duly authorised officer
                                            that it has complied with such payment obligations, along with a copy of all materials reasonably
                                            necessary to support such statement.

 

		9.5	Clause
                                            4, 5, 6, 8, 9.5 and 10 shall survive the termination of this Agreement.

 

	10.	ARBITRATION
AND GOVERNING LAW

 

		10.1	Any
                                            dispute among the parties arising out of or in connection with this Agreement or in the performance
                                            thereof shall in the first instance be referred to the authorised representatives of the
                                            parties for resolution. If such efforts fail, then the dispute shall be referred to binding
                                            arbitration in Singapore in accordance with the Arbitration Rules of the Singapore International
                                            Arbitration Center in force at such time which rules shall be deemed to be incorporated by
                                            reference into this Agreement. The Tribunal shall consist of one (1) arbitrator chosen by
                                            the Singapore International Arbitration Center under its rules if the parties cannot otherwise
                                            agree upon an arbitrator.

 

		10.2	This
                                            Agreement shall be governed by the laws of the Republic of Singapore and each Party agrees
                                            to submit to the non-exclusive jurisdiction of the Singapore courts.

 

    	 

    	 

    

 

	11.	MISCELLANEOUS

 

		11.1	Assignment.
                                            This Agreement may not be assigned by the LICENSEE to any person without the prior written
                                            consent of ETPL.

 

		11.2	Entire
                                            Agreement. This Agreement sets forth the entire agreement and understanding between the
                                            parties as to the subject matter herein. There shall be no amendments or modifications to
                                            this Agreement, except by a written document signed by both parties.

 

		11.3	Waiver.
                                            Any delay in enforcing a party’s rights under this Agreement or any waiver as to a
                                            particular default or other matter shall not constitute a waiver of that party’s rights
                                            to the future enforcement of its rights under this Agreement, unless there is an express
                                            written and signed waiver for a particular matter for a particular period of time.

 

		11.4	Severance.
                                            If any provision of this Agreement is held by any court or other competent authority to be
                                            invalid or unenforceable, in whole or in part, the other provisions of this Agreement and
                                            the remainder of the affected provision shall continue to be valid.

 

		11.5	Injunctive
                                            relief. LICENSEE acknowledges that any breach of this Agreement may cause irreparable
                                            damage to ETPL or ETPL’s Affiliates and LICENSEE agrees that ETPL or its Affiliates
                                            shall be entitled to injunctive relief in addition to any award by the court in favour of
                                            ETPL or ETPL’s Affiliates.

 

		11.6	Notices.
                                            Any notices required by this Agreement shall be in writing, shall specifically refer to this
                                            Agreement and shall be sent by registered or certified mail and shall be forwarded to the
                                            respective addresses set forth below unless subsequently changed by written notice to the
                                            other party.

 

To
ETPL: 1 Fusionopolis Way, #19-10 Connexis North, Singapore 138632

Attn:
Commercialisation Head

 

Fax:
64632675

To
LICENSEE:Refer to Schedule 1

 

		11.7	Contracts
                                            (Rights of Third Parties) Act. Save to give effect to the rights accruing to ETPL’s
                                            Affiliates under this Agreement, a person who is not a party to this Agreement has no right
                                            under the Contracts (Rights of Third Parties) Act Cap. 53B or otherwise to enforce any terms
                                            and conditions of this Agreement.

 

		11.8	Novation.
                                            If at any time after the Effective Date the functions and operations of ETPL are assigned,
                                            merged, transferred into or otherwise forms part of another organisation (“the New
                                            Entity”) such that the New Entity takes over the whole or substantially the whole of
                                            ETPL’s operations, then it is agreed that this Agreement may, at the option of ETPL,
                                            be novated to the New Entity which will then assume all of ETPL’s rights and obligations
                                            hereunder.

 

	12.	Use
                                            Of Technology. The Technology shall be used for commercial and/or civilian purposes only.
                                            LICENSEE shall ensure that it complies with all applicable laws, rules and regulations governing
                                            the use, export and disposal of the Technology and the Licensed Products.

 

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

 

    	 

    	 

    

 

IN
WITNESS HEREOF, the parties have executed this Agreement by their duly authorised representatives as of the date set forth above.

 

ACCELERATE
TECHNOLOGIES PTE LTD

 

	By:	/s/
    Authorized Signatory	 

 

CytoMed
Therapeutics Pte Ltd

 

	By:

    
	/s/
                                            CHOO Chee Kong

    
	 
	Name:

    
	CHOO
                                            Chee Kong

    
	 
	Title:	Director	 

 

    	 

    	 

    

 

SCHEDULE
1

 

	1.	LICENSEE

 

Name:
PURICELL LAB PTE. LTD.

Address:
21 BUKIT BATOK CRESECNT #17-80 WCEGA TOWER SINGAPORE 658065

Company
Registration No.: 202031625G

Addressee
for communications: [*****]

Email
Address: [*****]

Telephone
No.: [*****]

Fax
No.: NA

 

	2.	Field
                                            of use

 

Research,
development and manufacturing of GMP-grade human induced pluripotent stem cells (iPSCS) derived from this Technology.

 

	3.	Technology

 

[*****]

 

LICENSEE
hereby confirms that ETPL has effected full delivery of the Technology and Documentation and all information relating thereto in sufficient
detail to enable LICENSEE to use the Technology as contemplated under Clause 2.1. Nothing in this Agreement shall be construed as requiring
ETPL to prepare or deliver to LICENSEE any further information, documents or data relating thereto or engage in any technical studies
or research or development or other obligation with regards to the use and operation of any part of the Technology.

 

	4.	Licensed
                                            Products 

 

GMP-grade
human induced pluripotent stem cells (iPSCs) which
incorporates the Technology (or part thereof) or which cannot be developed, manufactured, used, sold, performed or provided without infringing
ETPL’s rights in the Technology. For the avoidance of doubt, a Licensed Product includes a complete system, which may include hardware,
software, accessories, implementation manuals and the like, or a sub-system of a complete system, incorporating the Technology (or part
thereof), for use within the Field of Use only which incorporates the
Technology (or part thereof) or which cannot be developed, manufactured, used, sold, performed or provided without infringing ETPL’s
rights in the Technology. For the avoidance of doubt, a Licensed Product includes a complete system, which may include hardware, software,
accessories, implementation manuals and the like, or a sub-system of a complete system, incorporating the Technology (or part thereof).

 

	5.	Effective
                                            Date

 

11/16/2020
12:00:00 AM

 

	6.	Term

 

10
Year(s), 0 Month(s)

 

	7.	Territory

 

 WORLDWIDE

 

	8.	Licence
                                            Fee

 

(a)
Licence Fee (payable)

 

 [*****]

 

    	 

    	 

    

 

(b)
Royalty Payment: 

 

LICENSEE
will have to pay royalty as indicated in the table below:

 

	Royalty
    Period	 	Payment
    and Sales Report Due Date	 	Royalty
    Payable
	[*****]	 	[*****]	 	[*****]
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 
	[*****]	 	[*****]	 	 

 

[*****]

 

(c)
Annual Minimum Payment:

 

	Royalty
    Period	 	Royalty
    Payable
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]

 

 

“Gross
Revenue” means any and all consideration received and receivable by LICENSEE, including but not limited to all revenue received
by LICENSEE in respect of any sale, distribution, use or other disposition of Licensed Product. If any Licensed Product is distributed
in a transaction that is not at arms-length for a discounted price that is substantially lower than the customary price charged by LICENSEE,
or distributed for a non-cash consideration (whether or not for a discount), Gross Revenue shall be calculated based on the non-discounted
price amount of the Licensed Product charged to an independent party during the same reporting period or in the absence of such sales,
on the fair market value of the Licensed Product. For the purposes of this definition, Gross Revenue shall be computed before deducting
income tax or any other taxes, refund discount, credit or other offset.

 

    	 

    	 

    

 

SCHEDULE
2

 

PAYMENT
TERMS

 

		1.	From
                                            and after the date falling twelve (12) months from the date of this Agreement, in order to
                                            maintain the licence granted hereunder in force, LICENSEE shall pay to ETPL the minimum annual
                                            royalty as set out in Schedule 1. Any percentage royalties earned and paid to ETPL
                                            pursuant to Clause 3.1.2 of this Agreement for any twelve (12) month period shall be credited
                                            against the minimum royalty payable for such period, and the payment of any shortfall between
                                            actual royalties paid and the minimum annual royalty applicable to such twelve (12) month
                                            period shall be payable to ETPL in accordance with Schedule 1.

 

		2.	All
Royalties or other sums payable under this Agreement shall be paid in Singapore Dollars.

 

		3.	All
                                            payments made to ETPL hereunder shall exclude any goods and services tax, sale and use tax
                                            or any similar tariff, impost, duty, fees or assessments (including the amount of interest
                                            and penalties in connection therewith) or governmental charge. Payment shall be made in cleared
                                            funds to such bank account or in such other manner as ETPL may specify from time to time
                                            to LICENSEE, without any set-off, deduction or withholding.

 

		4.	The
                                            Parties hereby agree that ETPL’s acceptance of any purported payment of Royalties from
                                            LICENSEE shall not be deemed to be ETPL’s acceptance of the validity and accuracy of
                                            any record, statement and document in support thereof. For the avoidance of doubt, ETPL reserves
                                            the right to reject any such record, statement or document as valid or accurate subsequent
                                            to its acceptance of any purported payment of Royalties and in such event, ETPL shall have
                                            the right to recover the balance of any sums thereby found due and unpaid.

 

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

 

    	 

    	 

    

 

SCHEDULE
3

SALES
REPORT

 

	Name
    of Licensee:	PURICELL
    LAB PTE. LTD.
	Reporting
    period:	 	 	 	 
	Licence
    Agreement reference no: N/A	 	 	 
	Technology:	[*****]

 

	S/No
 
 
	 	Invoice Date
 
 
	 	 	Invoice Number
 
	 	 	Customer name
 
 
	 	 	Description 
 
 
	 	 	Invoice amount (S$) *
 without GST
 (a)
	 
	1	 	 		 	 	 		 	 	 		 	 	 		 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	7	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	10	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 

 

Note:
Please insert more rows if necessary

 

*
For sales invoice in foreign currency, please indicate the exchange rate used to convert to S$

 

We
hereby certify that the above information is correct.

 

	 	 	 
	 	Name:	 
	 	Designation:	Chief
    Financial Officer/ Director 
	 	Date:Exhibit
10.9

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, certain identified information marked with [*****] has been excluded from the exhibit because
it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

Schedule
2

 

Shareholders
Agreement

 

This
Agreement (“Agreement”) is made on 20th January 2020

 

Between:

 

	(1)	Landmark
                                            Medical Centre Sdn Bhd (registration no. 350925H), a company incorporated in Malaysia
                                            and having its registered office at Unit 33B, Menara Landmark, No.12, Jalan Ngee Heng, 80000
                                            Johor Bahru, Johor, Malaysia (the “Company”);

 

	(2)	The
                                            Founding Shareholders;

 

	(3)	CytoMed
                                            Therapeutics Pte Ltd (registration no. 201808327H), a company incorporated in the Republic
                                            of Singapore and having its registered office at 21 Bukit Batok Crescent, #17-80 WCEGA Tower,
                                            Singapore 658065 (“CytoMed Singapore”) or its nominee(s); and

 

	(4)	CytoMed
                                            Therapeutics (Malaysia) Sdn Bhd (registration no. 1074609M) a company incorporated in
                                            Malaysia and having its registered office at Room 503, 5th Floor Merlin Tower,
                                            Jalan Meldrum, 80000 Johor Bahru, Johor, Malaysia (“CytoMed Malaysia”)
                                            or its nominee(s).

 

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

 

Recitals:

 

The
Company, the Investor and the Founding Shareholders are Parties to the Investment Agreement. The Investment Agreement requires the Parties
to enter into this Agreement to regulate their rights and obligations as Shareholders.

 

Agreed
Terms:

 

	1.	Definitions
                                            and Interpretation

 

	1.1	In
                                            this Agreement, capitalised terms used but are not defined have the meanings given to them
                                            in the Investment Agreement.

 

	1.2	In
                                            addition, the following words and phrases shall have the following meanings set out below,
                                            unless the context requires otherwise:

 

“Approved
Sale” means a sale of all and not part only of:

 

(a)       issued
Shares for time being; or

 

(b)       the
Company’s undertakings and assets;

 

    	 

     

    

 

“Board”
means the board of Directors;

 

“Directors”
means the directors of the Company from time to time;

 

“Dispose”
in relation to Shares, means to sell, assign, transfer, pledge, hypothecate, or otherwise encumber or dispose of, or to permit the sale,
assignment, transfer, pledge, hypothecation, encumbrance or disposal by any other person, and

 

“Disposal”
shall be construed in a similar way;

 

“Encumber”
means, with respect to any shares, the creation of any security interest, charge, mortgage, pledge, lien or other encumbrance affecting
title to, ownership of or possession of such shares, and the terms “encumbering” and “encumbrance”
have correlative meanings;

 

“Initiating
Sellers”, in relation to drag-along rights, means Shareholders representing 80% or more of issued Shares for time being, with
all Shareholders voting on an as-converted basis;

 

“Investment
Agreement” means an investment agreement dated on or about the date of this Agreement and entered into by the Company, the
Founding Shareholders and the Investor;

 

“Investor”
means CytoMed Singapore;

 

“JV
Bank Account” means the banking account which requires both signatories to operate, one each from the Founding Shareholders
and the nominee director of CytoMed;

 

“Offering
Party”, in relation to a Shareholder’s right of first refusal, has the meaning given to it in Clause 3.2 (Share Transfer
Pre-emptive Rights);

“Offered
Shares” in relation to a Shareholder’s right of first refusal, has the meaning given to it in Clause 3.2 (Share Transfer
Pre-emptive Rights);

 

“Permitted
Disposal” means:

 

		(a)	in
                                            relation to natural persons, a Disposal to a spouse, lineal descendant or antecedent, father,
                                            mother, brother, sister or parents in law, or to a corporate entity wholly owned by any of
                                            these natural persons;

 

		(b)	in
                                            relation to any other entitles, a Disposal to an Affiliate;

 

		(c)	a
                                            Disposal to any person which is unanimously approved by all of the Shareholders;

 

“Pro
Rata Share” means the percentage representing the fraction, the numerator of which is the number of Shares as at the relevant
date owned by the relevant Shareholder (on an as-converted basis) and the denominator of which is the number of total Shares as at that
date (on an as-converted basis) issued by the Company;

 

“Share”
means an ordinary share in the capital of the Company and “Shares” will be construed accordingly;

  

    	 

     

    

 

“Shareholders”
means the holders from time to time of Shares in the Company and “Shareholder” means any one of them;

 

“Transfer”
means any sale, exchange, gift or any other transfer or disposition, whether voluntary or involuntary, of any Shares.

  

	1.3	Interpretation

 

Duplicate
interpretation provisions in Investment Agreement.

 

	2.	New
                                            Issues Pre-emption Rights

 

	2.1	The
                                            Company grants to each Shareholder a right of first refusal to purchase its Pro Rata Share
                                            of any new Shares or securities which the Company, from time to time, proposes to sell and
                                            issue.

 

	2.2	In
                                            the event the Company proposes to issue new Shares or securities, it shall give each Shareholder
                                            written notice (“Issuance Notice”) describing the type of new Shares or
                                            securities, and their price and the general terms upon which the Company proposes to issue
                                            them. A Shareholder has [*****] commencing on the date of the Issuance Notice to purchase
                                            its Pro Rata Share of new Shares or securities (or less) at the price and upon the terms
                                            specified in the Issuance Notice by written notice to the Company stating the number of new
                                            Shares or securities to be purchased.

 

	2.3	The
                                            Company may, for the period commencing on the date falling [*****] after the date of the
                                            Issuance Notice and ending on the date falling [*****] after the date of the Issuance Notice,
                                            sell any new Shares or securities not purchased by Shareholders pursuant to the pre-emptive
                                            rights in this Clause to any person, at a price and upon terms no more favourable to the
                                            purchasers than specified in the Issuance Notice. If Company fails to sell or issue the new
                                            Shares or securities within the period described in this Clause, the Company shall not thereafter
                                            issue or sell the new Shares or securities, without first again offering the Shares or securities
                                            to the Shareholders in the manner provided in this Clause.

 

	3.	Share
                                            Transfer Pre-emptive Rights

 

	3.1	Nothing
                                            in this Clause 3 (Rights of First Refusal) applies to a Permitted Disposal.

 

	3.2	A
                                            Shareholder (an “Offering Party”) who wishes to Dispose any of its Shares
                                            (“Offered Shares”) to any third party (including another Shareholder)
                                            (“Third Party”) must before the Disposal give effect to:

 

		(a)	the
                                            pre-emptive rights; and

 

		(b)	the
                                            Investor’s co-sale rights,

 

in
the manner described and in accordance with the mechanics stated in this Clause.

 

	3.3	Pre-emptive
                                            Rights

 

		(a)	The
                                            Offering Party shall by written notice (a “Transfer Notice”) to the Company
                                            and copied to each other Shareholder state that it proposes to Dispose of its Shares.

 

		(b)	A
                                            Transfer Notice constitutes an offer by the Offering Party to sell the Offered Shares to
                                            each of the other Shareholders at the price stated in the Transfer Notice. It shall state:

 

    	 

     

    

 

		(i)	the
                                            proposed price per Share;

 

		(ii)	the
                                            number of Shares the Shareholder proposed to Dispose of;

 

		(iii)	in
                                            reasonable detail the nature and manner of Disposal; and

 

		(iv)	in
                                            reasonable detail the identity and contact of the Third Party.

 

A
Transfer Notice that does not comply with the requirements above is invalid and have no effect.

 

		(c)	The
                                            Offering Party agrees that the Transfer Notice also constitutes the Company as its agent
                                            for the sale of the Offered Shares at the sale price stated in the Transfer Notice, for so
                                            long as the pre-emptive rights under this Clause have not been exhausted.

 

		(d)	The
                                            Offering shall not revoke the Transfer Notice or the Company’s appointment as its agent
                                            as described above without the Shareholders’ unanimous approval.

 

		(e)	A
                                            Shareholder (other than the Offering Party) exercising its pre-emptive rights under this
                                            Clause (“Accepting Shareholder”) shall serve written notice (“Acceptance
                                            Notice”) on the Company on or before the date falling [*****] after the date of
                                            the Transfer Notice. If no notice is served the Shareholder is deemed to have waived its
                                            pre-emptive rights under this Clause.

 

		(f)	An
                                            Acceptance Notice shall state clearly number of Offered Shares that the Shareholder wishes
                                            to purchase, failing which the Acceptance Notice shall be invalid and the Shareholder shall
                                            be deemed to have waived its pre-emptive rights under this Clause.

 

		(g)	The
                                            Company shall on or before the date falling [*****] after the date of the Transfer Notice
                                            by notice (“Allocation Notice”) to the Offering Party and each Accepting
                                            Shareholder state the number of Offer Shares allocated to each Accepting Shareholder.

 

		(h)	If
                                            there are more than one Accepting Shareholder then the Company shall allocate Offered Shares
                                            among all Accepting Shareholders as fairly as possible in the circumstances, in particular
                                            if the number of Offered Shares is insufficient to fulfil all Accepting Shareholders, then
                                            each Accepting Shareholder shall be allocated its Pro Rata Share of the Offered Shares.

 

		(i)	The
                                            process above shall be repeated (as applicable) until there all Offered Shares have been
                                            made subject to Acceptance Notices or there are no more Accepting Shareholders.

 

		(j)	The
                                            Company shall immediately after the final allocation of Offered Shares issue a final Allocation
                                            Notice to each Accepting Shareholder and the Offering Party, stating:

 

		(i)	the
                                            Accepting Shareholder’s final allocated Offered Shares; and

 

		(ii)	a
                                            place and time (being not earlier than [*****] and not later than [*****] after the date
                                            of the final Allocation Notice) at which the sale and purchase of the Offered Shares shall
                                            be completed.

 

    	 

     

    

 

		(k)	(i)	The
                                            Offering Party shall transfer all Offered Shares at the time and place specified in the Allocation
                                            Notice, against payment of the sale price.

 

		(ii)	If
                                            it fails to do so, the Offering Party agrees that it is deemed to have appointed the chairman
                                            of the Board as its attorney with full power, in the name and on behalf of the Offering Party,
                                            to execute, complete and deliver all documents and actions (including giving a receipt for
                                            the sale price) to transfer the Offered Shares to the Accepting Shareholder against payment
                                            of the sale price.

 

		(iii)	On
                                            payment of the sale price, the Offering Party agrees that the Accepting Shareholder is deemed
                                            to have obtained a good quittance for the payment.

 

		(l)	The
                                            Shareholders agree that upon a completion of the Offered Shares sale and purchase described
                                            above, the Accepting Shareholder on execution and delivery of the applicable transfer form
                                            is entitled to have its being entered in the Company’s shareholders’ register
                                            as the registered holder of the relevant Offered Shares.

 

	3.4	Co-Sale
                                            

 

		(a)	An
                                            Investor which does not exercise its pre-emptive rights above, and which notifies the Offering
                                            Party in writing on or before the date falling [*****] after the date of the Transfer Notice
                                            (“Selling Shareholder”), shall have the right to participate in the sale
                                            of the Offered Shares on the same terms and conditions as specified in the Transfer Notice.

 

		(b)	A
                                            Shareholder exercising its co-sale rights under this Clause does not have pre-emptive rights
                                            described in Clause 3.3 (Pre-emptive Rights) with respect the same transaction.

 

		(c)	A
                                            Selling Shareholder’s notice to the Offering Party shall indicate the number of Shares
                                            the Selling Shareholder wishes to sell under its right to participate.

 

		(d)	If
                                            there are one or more Selling Shareholders, the number of Offered Shares that the Offering
                                            Party may sell in the proposed Disposal shall be reduced to the extent of the other Shareholders’
                                            co-sale Shares.

 

		(e)	Each
                                            Selling Shareholder may sell only the number of its Shares equal to its Pro Rata Share of
                                            the Offered Shares, or less.

 

		(f)	Each
                                            Selling Shareholder shall effect its participation in the sale by promptly delivering to
                                            the Offering Party for Disposal to the prospective transferee one or more certificates, properly
                                            endorsed for transfer and accompanied by transfer documents (where required) duly executed
                                            by it.

 

		(g)	The
                                            Offering Party shall deliver the share certificate and transfer documents that a Selling
                                            Shareholder delivers to it to the proposed transferee in completion of the Disposal of the
                                            Offered Shares pursuant to the terms of the Transfer Notice, and the Offering Party shall
                                            immediately upon receipt remit to the Selling Shareholder the sale proceeds due to the Selling
                                            Shareholder.

 

		(h)	If
                                            any proposed transferee of the Offered Shares prohibits the participation of a Selling Shareholder
                                            exercising its co-sale rights or otherwise refuses to accept Shares from a Selling Shareholder,
                                            the Offering Party shall not sell to the prospective transferee any Shares unless and until,
                                            simultaneously with the sale, the Offering Party purchases from the Selling Shareholder,
                                            at the price and upon the terms described in the Transfer Notice, the Selling Shareholder’s
                                            Shares which would have been subject to the co-sale rights under this Clause.

 

    	 

     

    

 

	3.5	The
                                            Offering Party may:

 

		(a)	after
                                            giving effect to the pre-emptive rights; and

 

		(b)	including
                                            in the proposed Disposal all Selling Shareholders’ co-sale Shares,

 

in
accordance with this Clause, Dispose of the Offered Shares to any other third party on terms no more favourable to the third party than
those stated in the Transfer Notice.

 

	3.6	The
                                            Company shall not approve or register any transfers of Shares unless it is:

 

		(a)	effected
                                            in accordance with this Clause 3; and

 

		(b)	the
                                            transferee of the Shares, if not already a party, has ratified this Agreement to the Company’s
                                            reasonable satisfaction.

 

	4.	Drag-Along

 

	4.1	If
                                            the Initiating Sellers approve an Approved Sale, then all Shareholders shall approve, consent
                                            to and participate in the Approved Sale, and if the Approved Sale is structured as a sale
                                            of issued Shares (whether by merger, recapitalization, consolidation or other Disposal),
                                            then each Shareholder shall waive all first refusal and other rights in connection with the
                                            Approved Sale.

 

	4.2	Each
                                            Shareholder shall take all necessary and desirable actions in connection with the completion
                                            of an Approved Sale, including executing agreements and instruments and taking other actions
                                            as may be reasonably necessary to provide the representations, warranties, indemnities, covenants,
                                            conditions and other provisions and agreements, as the case may be, required to complete
                                            the Approved Sale.

 

	4.3	If
                                            a Shareholder fails for any reason to take any of the actions described above, it shall be
                                            deemed to have appointed any Director as its attorney, on its behalf and in its name, with
                                            full power, to execute, complete and deliver any document or instrument or to take any other
                                            action, including to receive the proceeds of the sale and to give good quittance for the
                                            sale price, in order to complete the Approved Sale. The Shareholder further agrees to confirm
                                            and ratify the acts of any Director acting as its attorney under this Clause 4.3 (Drag- Along).

 

	4.4	An
                                            Approved Sale shall not be subject to Clause 3 (Rights of First Refusal).

 

	4.5	The
                                            Initiating Sellers shall deliver written notice to each other Shareholder setting out in
                                            reasonable detail the terms (including price, time and form of payment) of any Approved Sale
                                            (“Drag-Along Notice”).

 

	4.6	Without
                                            limiting the generality of the provisions above, each Shareholder shall, on or before the
                                            date falling [*****] after the date of the Drag-Along Notice, deliver to the Company written
                                            notice:

 

		(a)	setting
                                            out its agreement to the Approved Sale (including waiving all first refusal and similar rights);
                                            and

 

		(b)	if
                                            the Approved Sale is structured as a sale of Shares, enclosing share certificates representing
                                            its Shares and a transfer form duly executed in blank.

 

    	 

     

    

 

	5.	Board
                                            Rights

 

	5.1	The
                                            Board shall at all time comprise of not more than 5 (Five) Directors.

 

	5.2	The
                                            Investor shall be entitled to nominate 1 (One) person as Director.

 

	5.3	The
                                            Founding Shareholders as a class shall be entitled to nominate up to 4 (Four) persons as
                                            Directors.

 

	5.4	The
                                            quorum for any Board meeting shall comprise of:

 

		(a)	one
                                            Founding Shareholders’ nominee Director; and

 

		(b)	The
                                            Investor’s nominee Director.

 

	5.5	Without
                                            the consent of each of the Founding Shareholders and the Investor, the constitution of the
                                            Board, number of Directors and the quorum for any Board meetings as stated above shall not
                                            be changed.

 

	5.6	Compensation
                                            Committee

 

		(a)	The
                                            Board shall nominate one Director as chairman of the Company’s compensation committee
                                            or equivalent (as and when constituted).

 

		(b)	The
                                            Investor shall have veto rights on compensation matters which are deemed not to be in
                                            the interest of the Company.

 

		(c)	It
                                            is agreed to remunerate each working Founding Shareholder an agreed fixed salary and a variable
                                            bonus which shall be dependent on Company performance and in the best interest of the Company.
                                            Remuneration for the rest of the employees shall be decided by the Company’s top management
                                            team.

 

	5.7	Board
                                            Observer Rights

 

		(a)	CytoMed
                                            Malaysia shall be entitled to nominate one person as a Board observer.

 

	5.8	Resolutions
                                            in Writing 

 

A
resolution in writing signed by a simple majority vote of the Directors for the time being, which shall include at least the Investor’s
nominee Director, shall be as valid and effectual as if it had been passed at a meeting of Directors duly called and constituted. Any
such resolution may consist of several documents in like form, each signed by one or more of the Directors. The expressions “in
writing” and “signed” include approval by wireless or facsimile transmission.

 

	5.9	Bank
                                            Mandate and Authorised Signatories 

 

The
bank mandate and the authorised signatories to operate the JV Bank Account of the Company shall be any two Directors, comprising of (a)
one Founding Shareholders’ nominee Director, and (b) the Investor’s nominee Director.

 

    	 

     

    

 

	5.10	Change
                                            of Company Name

 

Upon
receiving the full New Fund or where feasible, the Company shall change its legal and marketing name to a new name which is agreed to
by the Board and Investor.

 

	6.	Information
                                            Rights

 

The
Company shall provide to each Investor as may from time to time be reasonably requested by the Investor, including but not limited to
the following:

 

		(a)	within
                                            [*****] after the end of each quarter with, unaudited quarterly management accounts (comprising
                                            balance sheet, profit and loss statement and cash flows statement) discussing the revenues
                                            and operations of the Company for the relevant quarter;

 

		(b)	within
                                            [*****] after the close of each financial year, audited financial statements (comprising
                                            balance sheet, profit and loss statement and cash flows statement and notes thereto);

 

		(c)	at
                                            least [*****] before the start of each new financial year, an annual operating budget, profit
                                            forecast, capital asset requirements and business plan for the new financial year; and

 

		(d)	within
                                            [*****] upon becoming aware of any event or change which has a material adverse effect on
                                            the Company or which is likely to have a substantial effect on its profits or businesses,
                                            such as a strike, lock-out, lay-off, suspension of work or any other event likely to have
                                            a material adverse effect on its business or operations.

 

	7.	Registration
                                            Rights

 

		(a)	The
                                            Company shall pay all reasonable expenses arising out of or in connection with the Investor’s
                                            participation in the event of a trade sale which is not initiated by the Investor. These
                                            expenses include and are not limited to legal costs (for separate representation by the Investor,
                                            if any), broker’s fees, registration and filing costs, stamp and other similar duties.

 

		(b)	Without
                                            limiting the above, where the Company decides to undertake an initial public offering and/or
                                            listing of the Company’s Shares on any stock exchange on its own merits, the Company
                                            shall pay all reasonable expenses arising out of or in connection with qualifying and registering
                                            the Investor’s Shares in the initial public offering and/or listing.

 

	8.	Reserved
                                            Matters

 

	8.1	The
                                            Shareholders shall procure so far as they can that no action is taken or resolutions passed
                                            by the Company save with the Investor’s prior written consent which shall be necessary
                                            to approve any of the following:

 

		(a)	any
                                            dissolution or liquidation of the Company;

 

		(b)	sell
                                            or dispose of the whole or a substantial part of the undertaking, goodwill or assets of the
                                            Company or purchase, sale, transfer, disposal, lease or licence of any real property or any
                                            interest therein;

 

		(c)	appoint
                                            or change the Company’s auditors;

 

		(d)	any
                                            amendment of the Company’s M&A or other constitutional documents;

 

    	 

     

    

 

		(e)	any
                                            change to the Present Business or the Company’s existing business for the time being,
                                            or the Company commencing or carrying on any type of business not ancillary or incidental
                                            to its existing business for the time being;

 

		(f)	to
                                            the extent permitted by applicable law, increase, reduce or cancel the issued share capital
                                            of the Company or issue, allot, purchase or redeem any Shares or securities convertible into
                                            or carrying a right of subscription in respect of shares or any share warrants or grant or
                                            issue any options rights or warrants or which may require the issue of shares in the future
                                            or do any act which has the effect of diluting or reducing the effective shareholding of
                                            the Investor in the Company;

 

		(g)	to
                                            the extent permitted by applicable law, pass any resolution for the winding up or dissolution
                                            of the Company or undertake any merger, joint ventures, reconstruction or liquidation exercise
                                            concerning the Company or apply for the appointment of a receiver, manager or judicial manager
                                            or like officer in respect of the Company;

 

		(h)	any
                                            Disposal or other transaction relating to any of the Company’s intellectual property
                                            rights, technologies or trade practices or secrets;

 

		(i)	acquire
                                            any investment or incur any commitment in excess of RM 150,000 per transaction;

 

		(j)	create
                                            or acquire a subsidiary or dispose of any shares in a subsidiary, if any;

 

		(k)	create
                                            any fixed or floating charge, lien or other encumbrance over the whole or any part of its
                                            undertaking, property or assets;

 

		(l)	the
                                            use of the proceeds from the issue of the New Shares for any purpose other than the Permitted
                                            Purpose; and/or

 

		(m)	appoint
                                            or remove any key appointment holder, including the chief executive officer, chief financial
                                            officer, chief technology officer and chief operating officer, or any of their equivalent;

		(n)	make
                                            any distribution of profits amongst the Shareholders by way of dividend, capitalisation of
                                            reserves or otherwise.

 

	8.2	Notwithstanding
                                            anything herein (including but not limited to Clauses 3 and 4), for so long as the Investor
                                            holds (on an as converted basis) [*****] of issued Shares, the Parties agree that the Investor
                                            may object to and veto any proposed Disposal of Shares, by any Shareholder other than for
                                            a Permitted Disposal. If this objection and veto is exercised, the affected Shareholder and
                                            the Company shall not consummate the affected transfer.

 

	9.	Undertakings
                                            of the Founding Shareholders and the Company

 

	9.1	The
                                            Company and the Founding Shareholders, jointly and severally, undertake to the Investor to:

 

		(a)	ensure
                                            that the Company is at all times carrying on a business of a general hospital or specialist
                                            medical centre;

 

    	 

     

    

 

		(b)	ensure
                                            that the Company does not at any time carry out businesses in real estate development, gambling,
                                            tobacco-related products, and other activities which are against public interest;

 

		(c)	ensure
                                            that each Founding Shareholders (whether a natural person or other entity) and all key management
                                            personnel of the Company are at all times ordinarily resident in Singapore or Malaysia;

 

		(d)	use
                                            best endeavours to achieve a public listing within three years of this Agreement; and

 

		(e)	warrant
                                            and guarantee an after-tax net profit of a minimum of [*****] for the financial year ended
                                            31 December 2019 and [*****] for the financial year ending 31 December 2020. Any shortfall
                                            of every [*****] below the aforementioned guarantee shall be compensated on pro rata basis
                                            by the issue of [*****] of enlarged share capital as stated in Clause 7.1 of Investment Agreement.
                                            Profits shall be determined based on audited accounts prepared by an independent auditor,
                                            whose appointment shall be agreed between the Parties.

 

		(f)	Adopt
                                            a dividend policy to distribute up to [*****] of the annual profits.

 

	9.2	The
                                            Company and the Founding Shareholders further jointly and severally:

 

		(a)	agree
                                            and acknowledge that the Investor (and/or such other listing vehicle comprising all or some
                                            of the assets of the Investor) intends to proceed with a public listing of its shares on
                                            a stock exchange in such jurisdiction(s) as the Investor may elect (the “Proposed
                                            IPO”); and

 

		(b)	agree
                                            and undertake that the Company and the Founding Shareholders shall procure that:

 

		(i)	the
                                            Company shall provide all information and/or documents as the Investor may require for the
                                            purposes of the Proposed IPO for due diligence or otherwise, which shall include but not
                                            limited to:

 

(aa)
historical information of the Company (and/or its related corporations) since incorporation;

 

(bb)
all financial statements and accounts (whether audited or unaudited) and other financial information of the Company;

 

(cc)
all corporate secretarial records of the Company;

 

(dd)
all information and/or documents relating to the directors and/or Shareholders of the Company (and if any such Shareholder is not an
individual, all information and/or documents relating to the shareholder(s) of such corporate Shareholder); and

 

(ee)
all agreements, contracts and/or undertakings of the Company (whether legally binding or otherwise);

 

		(ii)	the
                                            Company shall grant access to its premises and/or place of business to the Investor (and/or
                                            the its professional advisors, representatives and/or agents) for purposes of due diligence
                                            in connection with the Proposed IPO; and

 

		(iii)	the
                                            Company shall use its best efforts to render all such assistance as may be required by the
                                            Investor from time to time for the purposes of the Proposed IPO.

 

    	 

     

    

 

	10.	Termination
                                            of Founding Shareholder Employment

 

		(a)	The
                                            Investor undertakes to the Founding Shareholders that any action to procure the termination
                                            of a Founding Shareholder’s employment agreement shall be taken in good faith and in
                                            the best interest of the Company.

 

		(b)	Nothing
                                            in this Clause shall apply to any action taken by the Investor to terminate a Founding Shareholder’s
                                            employment agreement on the basis of the Founding Shareholder’s material breach of
                                            his employment agreement, commission of an act of moral turpitude or conviction of a criminal
                                            offence.

 

	11.	Agreement
                                            Controls

 

		(a)	If
                                            a dispute or inconsistency arises between the terms of this Agreement and the M&A, the
                                            provisions of this Agreement shall prevail and shall, so far as they are able, cause such
                                            necessary alterations to be made to the M&A as are required to remove such conflict.

 

		(b)	Without
                                            limiting the generality of the above, in a dispute or inconsistency described above this
                                            Agreement shall construed and applied as the conclusive and binding evidence of the intention
                                            of the Shareholders and the Company. The interpretation resulting from this Agreement shall
                                            be applied to resolve the dispute or inconsistency.

 

		(c)	The
                                            M&A shall otherwise apply and be binding and subsisting between the Shareholders.

 

	12.	Confidentiality

 

		(a)	Unless
                                            otherwise required by law or pursuant to rules or regulations of any relevant regulatory,
                                            administrative or supervisory body (including, without limitation, any relevant stock exchange
                                            or securities council) or where the Parties’ directors, employees, servants and agents
                                            require such information to carry out their duties, none of the Parties shall divulge to
                                            any person or use for any purpose any of the trade secrets or confidential information or
                                            financial information relating to the other Shareholders or the Company which it acquires
                                            as a result of entering into this Agreement.

 

		(b)	Each
                                            of the Parties shall endeavour to prevent its employees from doing anything which, if done
                                            by the Party, would be a breach of this Clause 12. This restriction shall continue to apply
                                            after the expiration or termination of this Agreement without limit in point of time, but
                                            shall cease to apply to secrets or information which come(s) into the public domain through
                                            no fault of the Party concerned.

 

	13.	Termination

 

		(a)	This
                                            Agreement shall continue in full force and effect until terminated in accordance with the
                                            provisions of this Clause 13. Termination shall not affect any provision of this Agreement
                                            expressed to have effect after termination or any rights which any Party may have against
                                            any other Party subsisting at the time of termination.

 

		(b)	Without
                                            prejudice to the provisions of Clause 12 “Confidentiality”, this Agreement shall
                                            terminate in respect of any Party (but shall continue between the other Parties if more than
                                            one but not otherwise) if, at any time as a result of a transfer of Shares made in accordance
                                            with this Agreement, that Party no longer holds Shares.

 

		(c)	The
                                            Parties agree that should this joint venture under the Investment Agreement fails to operate
                                            in the way it is intended, the relevant parties shall mutually seek a cure by returning the
                                            issued shares in exchange for the original invested amounts. This termination option shall
                                            expire on 31 December 2020 unless extended by both Parties.

 

    	 

     

    

 

	14.	Waiver,
                                            Forbearance and Variation

 

		(a)	The
                                            rights which each of the Parties have under this Agreement shall not be prejudiced or restricted
                                            by any indulgence or forbearance extended to another Party. No waiver by any Party in respect
                                            of a breach shall operate as a waiver in respect of any subsequent breach.

 

		(b)	This
                                            Agreement shall not be varied or cancelled, unless the variation or cancellation is expressly
                                            agreed in writing.

 

	15.	Governing
                                            Law

 

		(a)	This
                                            Agreement shall be governed by and be interpreted and construed in accordance with Malaysia
                                            law.

 

		(b)	The
                                            Parties irrevocably agree that the courts of Malaysia shall have non-exclusive jurisdiction
                                            to hear and determine any suit, action or proceeding and to settle any disputes which may
                                            arise out of or in connection with this Agreement.

 

		(c)	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 Malaysia in accordance with the Rules of Arbitration of the Asian International Arbitration
                                            Centre (“AIAC”) for the time being in force which rules are deemed to
                                            be incorporated by reference into this Clause.

 

		(d)	The
                                            tribunal shall consist of 1 arbitrator to be appointed by the Chairman of AIAC. The language
                                            of the arbitration shall be English.

 

	16.	Entire
                                            Agreement

 

This
Agreement supersedes any previous agreement between the Parties in relation to the matters with which it deals and represents the entire
understanding between the Parties in relation to those matters.

 

[Signatures
follow]

 

[End
of Schedule]

 

    	 

     

    

 

Signatures

 

The
Company:

 

	 	/s/
    Ong Ah Huay	 
	Name:	 Ong Ah Huay	 
	For and on behalf of Landmark Medical Centre Sdn Bhd
	 	 	 
	 	 	 
	The
    Investor:	 
	 	 	 
	 	/s/
    Choo Chee Kong	 
	Name:	 Choo Chee Kong	 
	For and on behalf of CytoMed Therapeutics Pte Ltd
	 	 	 
	 	/s/
    Tan Yoong Ying	 
	Name:	Tan Yoong Ying	 
	For and on behalf of CytoMed Therapeutics (Malaysia) Sdn Bhd

 

Founding
Shareholders

 

	/s/
                                            Ong Ah Huay
	 	/s/
                                            Lucas Luk Tien Wee

	Ong
    Ah Huay	 	Lucas
    Luk Tien Wee
	 	 	 
	/s/
    Louisa Luk Tien Sze	 	/s/
    Lincoln Luk Tien Wen
	Louisa
    Luk Tien Sze	 	Lincoln
    Luk Tien Wen

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00350-of-00352.parquet"}]]