Document:

Exhibit 10.2

 

APTUS Management Limited

Unit B, 17/F Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

Tel: (852) 2117 6611●  Fax: (852) 2850 7286

 

1st
September 2017

 

Ms.
Sabrina Khan

 

Dear
Ms. Khan,

Employment
Letter

 

We
are pleased and welcome your acceptance to be appointed as the Chief Financial Officer for APTUS Holdings Limited (“AHL”
or the “Company”). You shall be employed full-time under the hiring entity APTUS Management Limited
(“AML”), a wholly owned subsidiary of the Company. The Company is incorporated with limited liabilities under
the laws of Cayman Islands and AML is duly incorporated with limited liabilities in Hong Kong. The Company also has subsidiary
companies in the Cayman Islands, Hong Kong, and Macau, whereby collectively, shall be depicted as “APTUS” or the “Group”.

 

The
following letter seeks to illustrate the context of your employment under AML and appointment by AHL, and the terms and conditions
as set out herewith (the “Agreement”).

 

	1.	The
                                         Group

 

APTUS
and its affiliates focus on the licensing of, and acquisition of early stage preclinical assets with the intention to engage in
drug research, development, and commercialization purposes. Assets are acquired via open and public platforms such as the technology
transfer offices of accredited universities and academic institutions. In addition, the Group seeks to be a facilitator across
the financing spectrum for biotech companies, entrepreneurs, and commercializing agents, to bolster innovations adding value to
health care needs in the market place; and to assist in furthering the research capabilities of institutions the Group works with.

 

	2.	Position
                                         and Responsibilities

 

		(a)	You
                                         will be enlisted to act as the Chief Financial Officer for the Company.

 

		(b)	You
                                         shall report to Mr. Ian Huen, the Chief Executive Officer and Executive Director of the
                                         Group.

 

		(c)	As
                                         the Chief Financial Officer of the Company, you shall be responsible towards overseeing
                                         the finance and accounting, administrative, and risk management operations of the Company,
                                         including but not limited to the development of financial and operational strategies,
                                         metrics tied to such strategies, and the ongoing development and monitoring of control
                                         systems designed to preserve company assets and report accurate financial results.

 

		(d)	Your
                                         role is a management role and you shall be expected to oversee, manage, and motivate
                                         the staff of the Finance and Accounting department to execute and achieve departmental
                                         milestones and targets, while collaborating with other members of the Company to further
                                         Group objectives.

 

     

     

    

 

APTUS Management Limited

Unit B, 17/F Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

Tel: (852) 2117 6611●  Fax: (852) 2850 7286

 

		(e)	Your
                                         principal accountabilities include:

 

		(i)	Planning: Assist
                                         in formulating the Group’s future direction, monitor and manage the capital request
                                         and budgeting processes;
	 	 	 

		(ii)	Operations:
                                         Participate in key decisions as a member of the management team, oversee the Group’s
                                         transaction processing systems, implement operational best practices;
	 	 	 

		(iii)	Financial
                                         Information: Oversee the issuance of financial information, report financial results
                                         to the Board of Directors;
	 	 	 

		(iv)	Risk
                                         Management: Understand and mitigate key elements of the Group’s risk profile,
                                         construct and monitor reliable control systems, ensure that record keeping meets the
                                         requirements of auditors and regulatory bodies, report risk issues to the Board of Directors;
	 	 	 

		(v)	Funding:
                                         Monitor cash balances and cash forecasts, arrange debt and equity financing when
                                         relevant;
	 	 	 

		(vi)	Third
                                         Parties: Maintain banking relationships, represent the Company and the Group with
                                         investment bankers and investors when relevant.
	 	 	 

		(f)	You
                                         are expected to fulfill operational and leadership duties as requested by the Chief Executive
                                         Officer, the Company, the shareholders of the Company, and members of the Executive and
                                         Non-Executive Board, on a day-to-day basis during official office hours where necessary.
                                         Your contribution shall be vital and appreciated in regards to the execution of business
                                         decisions made by the Executive Board.

 

		(g)	You
                                         shall:

 

		(i)	Observe
                                         and comply with all statutory rules, and regulations where applicable as governed by
                                         the internal policies and guidelines of the Company, and the laws of Hong Kong Special
                                         Administrative Region;

 

		(ii)	Provide
                                         traceable contact during and after office hours, on weekdays and weekends, or during
                                         public holidays, whereby your availability may occasionally and reasonably be sought.

 

	3.	Date
                                         of Commencement

 

Your
official date of appointment as the Chief Financial Officer of the Company shall commence on [ _______________ ] (“Effective
Date”), as mutually agreed upon between yourself and the Executive Board of Directors of the Company.

 

	4.	Salary
                                         and Cash Bonus

 

		(a)	Your
                                         starting salary will be HKD 102,500 (Hong Kong Dollars One Hundred Two Thousand
                                         Five Hundred) per month, paid out in an equivalent amount of twelve months per calendar
                                         year.

 

    2

     

    

 

APTUS Management Limited

Unit B, 17/F Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

Tel: (852) 2117 6611●  Fax: (852) 2850 7286

 

		(b)	Annual
                                         increment of your salary will be assessed on the basis of professional merit and the
                                         Group’s performance, and is awarded at the discretion of the Board of Directors
                                         of the Company and approved by the remuneration committee.

 

		(c)	With
                                         completion of one full year’s service (or a pro-rata portion thereof if service
                                         is less than one year), you may be entitled to a bonus as determined at the full discretion
                                         of the Board of Directors of the Company and approval of the remuneration committee.
                                         Any bonus will only be payable only if you are still in the employment of the Company
                                         on the bonus payment date which shall be payable in December or subsequent January of
                                         each calendar year.

 

	5.	Stock
                                         Bonus:

 

You
may be entitled to receive stock bonuses with the amount, cap, timing of payouts, vesting rate and schedule, subject to the full
discretion of the Company. All terms and conditions of stock bonuses shall be assessed based on the overall financial position
and performance of the Company, as well as your contribution and performance upon rendering services by yourself during your employment
under this Agreement. Any particulars associated to your eligibility to stock bonuses shall be definitively defined in a subsequent
“Stock Option and Stock Bonus Addendum” at a future date as mutually agreed upon between yourself and the Executive
Board of Directors and approved by the remuneration committee.

 

	6.	Stock
                                         Option

 

You
may be granted an option to purchase shares of the stock in the Company with the particulars of: the amount (percentage of issued
and outstanding stock of the Company), the term, extended terms (if any), option pricing and valuation method, and any other particulars
associated to eligibility of stock option purchases, shall be definitively defined in a subsequent “Stock Option and Stock
Bonus Addendum” at a future date as mutually agreed upon between yourself and the Executive Board of Directors.

 

	7.	Mandatory
                                         Provident Fund

 

You
will be entitled to become a member of AML’s standard Mandatory Provident Fund scheme in accordance with the Company’s
policy and the statutory requirements.

 

	8.	Medical
                                         Insurance

 

You
will be admitted to the Group’s Medical scheme, which provides reimbursement of consultation and hospitalization expenses
in accordance with the terms of the scheme. Your role shall entitle you to the highest coverage bracket available to the Group’s
management personnel, where the service provider and scheme may be subject to review or alteration in alignment to Group business
needs and conditions.

 

    3

     

    

 

APTUS Management Limited

Unit B, 17/F Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

Tel: (852) 2117 6611●  Fax: (852) 2850 7286

 

	9.	Restriction
                                         on Other Activities

 

		(a)	During
                                         your employment, you shall diligently and faithfully serve the Company and not act in
                                         any way which is in conflict with the interest of the Group.

 

		(b)	You
                                         shall not during your employment be engaged or interested directly or indirectly in any
                                         capacity in any other trade, business, occupation or assignment of whatsoever nature
                                         outside the Company, unless otherwise approved and consented by the Board of Directors
                                         in writing.

 

	10.	Privacy
                                         of Information

 

		(a)	You
                                         shall not except as authorized by the Company or required by your responsibilities reveal
                                         to any person or company any of the trade secrets or any information concerning the organization,
                                         business, finances, transactions or affairs of the Group which may come to your knowledge
                                         during your contract with the Group and shall keep with complete secrecy confidential
                                         information entrusted to you and shall not use or attempt to use any such information
                                         in any manner which may injure or cause loss either directly or indirectly to the Group
                                         or may be likely to do so. This restriction shall continue to apply if and when after
                                         the termination of your appointment without limit in time.

 

		(b)	You
                                         shall not either during the period of your appointment or afterwards use or permit to
                                         be used any books, documents, moneys, assets, records or other property belonging to
                                         or relating to any dealings, affair or business of the Group other than for the benefit
                                         of the Group. You shall immediately deliver and return to the Group all such books, documents,
                                         monies, securities, records or other property which you then have or should have in your
                                         possession upon termination of your appointment hereunder.

 

		(c)	The
                                         Company however, agrees to provide you with any information concerning areas of interest
                                         and relevance of the Group as required by you in order to enable you to fulfill your
                                         role as the Chief Financial Officer of the Company.

 

	11.	Annual
                                         Holiday

 

You
shall be entitled to an annual leave of 21 working days (exclusive of statutory holidays) during each twelve-month period to be
taken at such time as the Group shall consider most convenient having regard to the requirements of the business of the Companies.
The said holiday shall not be accumulated beyond each twelve-month period and if not taken in full in any particular period you
shall not be entitled to salary or remuneration in lieu of taking such holiday.

 

	12.	Termination

 

Your
appointment as the Chief Financial Officer of the Company may be terminated:

 

		(a)	By
                                         you after giving the Company not less than three (3) months’ notice in writing;

 

		(b)	By
                                         the Company after giving you three (3) months’ notice in writing; or

 

		(c)	By
                                         the Company without notice or compensation in the event of your dishonesty, fraud, gross
                                         negligence, willful default or refusal to carry out any lawful order or instructions,
                                         or the repeated breach of any rules or regulations of the Company, or those as governed
                                         by the laws of Hong Kong Special Administrative Region.

 

    4

     

    

 

APTUS Management Limited

Unit B, 17/F Guangdong Investment Tower,
148 Connaught Road Central, Hong Kong

Tel: (852) 2117 6611●  Fax: (852) 2850 7286

 

Please
signify your acceptance of the above terms and conditions by signing and returning to us the enclosed duplicate copy of this letter.

 

Yours
faithfully, 

 

	For
    and on behalf of	 	 
	 	 	 
	APTUS
    MANAGEMENT LIMITED	 	Agreed
    and accepted by:
	 	 	 
	 	 	 
	Name:
    Huen Chung Yuen Ian	 	Name:
    Sabrina Khan
	Position:
    Director & CEO	 	HKID
    No.:
	 	 	 
	 	 	 
	Date	 	Date

 

 

5Exhibit
10.3 

 

 

APTUS
Management Limited

17/F
Guangdong Investment Tower, 148 Connaught Road Central, Hong Kong

Tel:
(852) 2117 6611 ● Fax: (852) 2850 7286

 

24
April 2018

 

Ms.
Khan Sabrina

Present

 

Dear
Sabrina,

 

Addendum
to Employment Letter (the “Addendum”)

 

This
letter supplements and serves to be an addendum to the Employment Letter dated 1 September 2017 (“Employment Letter”)
executed between yourself and APTUS Management Limited (the “Company”) in relation to your employment as the Chief
Financial Officer. This Addendum should be read together with, and forms part of, the Employment Letter.

 

This
Addendum serves to describe the following amendments and/or additions to the Employment Letter.

  

		i.	Change
                                         of the Date of Commencement

 

Pursuant
to Clause 3 of Employment Letter, the official commencement date of your employment shall be on 16 October 2017 (the “Effective
Date”).

  

		ii.	Adjustment
                                         of “Salary and Cash Bonus”

 

Pursuant
to Clause 4 of Employment Letter, your base salary will be adjusted to HKD 122,500 with effect from 1 April 2018.

  

Please
signify your acceptance of the above amendments described in this Addendum by signing and returning to us the enclosed duplicate
copy of this letter.

  

Yours
faithfully, 

  

	For and on behalf of	 	 
	 	 	 
	APTUS MANAGEMENT LIMITED	 	Agreed and accepted by:
	 	 	 
	 	 	 
	Huen Chung Yuen Ian	 	Khan Sabrina
	Director	 	HKID No. Z002647(7)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}]]