Document:

Exhibit
10.6

 

FORM
OF UNVESTED RESTRICTED SHARE AMENDMENT

 

This
Amendment (the “Amendment”) is entered into as of [●], 20[●] by and between:

 

		1.	AVANSEUS
                                            HOLDINGS PTE. LTD. (Company Registration Number: 201526265R), a Singapore private company
                                            limited by shares, whose registered office is at 230 Victoria Street, #15-01/08, Bugis Junction,
                                            Singapore 188024 (the “Company”);

 

		2.	FAT
                                            PROJECTS ACQUISITION CORP. (Company Registration Number: 374480) a Cayman Islands exempted
                                            company limited by shares whose office address is at 27 Bukit Manis Road, Singapore 099892
                                            and whose registered office is at Walkers Corporate Limited, 190 Elgin Avenue, George Town,
                                            Grand Cayman KY1-9008, Cayman Islands (the “Acquiror”); and

 

		3.	[Insert
                                            Grantee Name and Address] (“Grantee”);

 

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

 

RECITALS

 

		A.	The
                                            Company and Grantee are parties to that certain [insert agreement] dated [insert
                                            date of agreement] (the “Grant Agreement”) pursuant to which
                                            the Company granted to Grantee [●] restricted shares (“Restricted Shares”)
                                            of (i) the Non-Voting Shares and/or (ii) Ordinary Shares of the Company’s share capital
                                            subject to the vesting conditions set forth therein of which [●] Non-Voting Shares
                                            and [●] Ordinary Shares remain unvested as of the date hereof (the “Unvested
                                            Grant Shares”).

 

		B.	Acquiror
                                            and the Company have entered into that certain Business Combination Agreement dated August
                                            [●], 2022 (as the same may be amended, restated or supplemented from time to time,
                                            the “Business Combination Agreement”), whereby among other matters,
                                            the holders of all of the Company’s outstanding shares will exchange all of the issued
                                            and outstanding share capital of the Company (including without limitation Restricted Shares
                                            that are vested or that will vest at the time of and as a consequence of the Closing but
                                            excluding all Restricted Shares that will not be vested at and after the Closing) for Acquiror
                                            Class A Ordinary Shares, making the Company a wholly owned subsidiary of Acquiror (the “Share
                                            Exchange”).

 

		C.	Section 4.1(b)
                                            of the Business Combination Agreement provides that the Grant Agreement will be assumed by
                                            the Acquiror and amended at the Effective Time to provide that the number of Unvested Grant
                                            Shares receivable thereunder shall be converted to a number of Acquiror Class A Ordinary
                                            Shares equal to the number of Unvested Grant Shares multiplied by the Exchange Ratio set
                                            forth in the Business Combination Agreement (rounded down to the nearest whole share) but
                                            that the Grant Agreement will otherwise have and be subject to substantially the same terms
                                            and conditions (including vesting, settlement and termination-related terms) as were set
                                            forth therein immediately prior to the Effective Time.

 

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		D.	This
                                            Amendment is effective upon the Closing under the Business Combination Agreement (the “Effective
                                            Time”), and the Parties are entering into this Amendment to implement the assumption
                                            and amendment, at the Effective Time, of the Grant Agreement as contemplated in Section 4.1(b)
                                            of the Business Combination Agreement.

 

NOW
THEREFORE, in consideration for the mutual covenants and agreements set forth in the Business Combination Agreement and set forth
herein, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties hereby agree
as follows:

 

		1.	Definitions.
                                            Capitalized terms used in this Amendment and not otherwise defined in this Amendment have
                                            the meanings ascribed to such terms in the Business Combination Agreement. From and after
                                            the date of this Amendment, references to the Grant Agreement shall mean the Grant Agreement
                                            as amended by this Amendment.

 

		2.	Amendments
                                            to Grant Agreement. Effective as of the Effective Time:

 

		a.	Acquiror
                                            hereby assumes from the Company, and the Company hereby assigns to the Acquiror, all of the
                                            rights, obligations and liabilities of the Company under the Grant Agreement with respect
                                            to the obligation to issue securities upon the satisfaction of the vesting criteria applicable
                                            to the Unvested Grant Shares set forth in the Grant Agreement, and the Grantee hereby consents
                                            to such assignment and assumption and releases the Company from any and all obligation to
                                            issue additional shares under the Grant Agreement;

 

		b.	The
                                            Grantee’s right to receive Unvested Grant Shares under the Grant Agreement upon the
                                            satisfaction of the vesting criteria with respect to the Unvested Grant Shares set forth
                                            therein is hereby replaced with the right to receive the number of Acquiror Class A Ordinary
                                            Shares equal to the number of Unvested Grant Shares multiplied by the Exchange Ratio; provided
                                            that no fraction of an Acquiror Class A Ordinary Share will be issued under the Grant
                                            Agreement, and instead the number of Acquiror Class A Ordinary Shares to be issued to the
                                            Grantee under the Grant Agreement as amended hereby shall be rounded down in the aggregate
                                            to the nearest whole Acquiror Class A Ordinary Shares and the Grantee shall receive cash
                                            in lieu of any fractional share in an amount equal to the value of such fraction share based
                                            on a share value of $10.00 per share.

 

		3.	No
                                            other Amendments. Except as set forth in Section 2 of this Amendment above,
                                            the Grant Agreement remains in full force and effect and unamended.

 

		4.	Termination:
                                            In the event that the Business Combination Agreement is terminated, this Amendment shall
                                            be automatically terminated with immediately effect, and the terms of the Grant Agreement
                                            shall continue in full force and effect and unamended.

 

		5.	Governing
                                            Law. This Amendment shall be governed by the law that governs the Grant Agreement as
                                            set forth in the Grant Agreement, provided that if the Grant Agreement does not specify the
                                            law by which it is governed, this Amendment shall be governed by the laws of Singapore.

 

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		6.	Notices.
                                            All notices, demands or other communications required or permitted to be given or made under
                                            this Amendment shall be in writing and in the English language and shall be sent to the recipient
                                            at its address, or electronic mail address set out below, or as otherwise directed by the
                                            recipient by notice given in accordance with this Section 6:

 

	 	The
    Company:	Avanseus
    Holdings Pty. Ltd.
	 	 	230,
    Victoria Street, #15-01/08, Bugis
	 	 	Junction,
    Singapore 188024
	 	 	bhargab.mitra@avanseus.com
    
	 	 	Attention:
    Chief Executive Officer

 

	 	The
    Acquiror:	Fat
    Projects Acquisition Corp.
	 	 	27
    Bukit Manis Road
	 	 	Sentosa
    Golf Course
	 	 	Singapore
    099892
	 	 	david@fatprojects.com;
    nils@fatporjects.com
	 	 	Attention:
    Chief Executive Officer & Chief Operating Officer

 

	 	The
    Grantee:	[insert
    name]
	 	 	[insert
    address]
	 	 	[insert
    e-mail address]

 

		7.	Counterparts.
                                            This Amendment may be executed in multiple counterparts, either manually or electronically,
                                            such as by DocuSign®, each of which may be signed by one or more of the Parties
                                            and shall constitute an original but all of which together shall constitute but a single
                                            Amendment. A copy of this Amendment bearing the electronic or PDF, facsimile, photostatic
                                            or other copy of the signature of a Party shall be as valid for all purposes as a copy of
                                            this Amendment bearing that Party’s original manual signature.

 

Signatures
on following page.

 

    3

     

    

 

IN WITNESS WHEREOF,
the Parties to this Amendment have set their signatures below.

 

	 	The Company:
	 	 	 
	 	For and on behalf
    of
	 	AVANSEUS HOLDINGS
    PTE. LTD.
	 	(Company Registration
    Number: 201526265R),

a Singapore private company limited by shares
	 	 
	 	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Acquiror:	 
	 	 	 
	 	For and on behalf
    of
	 	FAT PROJECTS
    ACQUISITION CORP.
	 	(Company Registration
    Number: 374480)

a Cayman Islands exempted company limited by shares
	 	 
	 	 	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Grantee:
	 	 
	 	 	 
	 	Signature
	 	 
	 	 	 
	 	Print Name

 

    4Exhibit
10.7

 

NEW
CRYSTAL TECHNOLOGY SERVICES WARRANT AGREEMENT

 

 

 

FAT
PROJECTS ACQUISITION CORP.

 

and

 

CRYSTAL
TECHNOLOGY SERVICES PTE. LTD.

 

SHARE
WARRANT AGREEMENT

 

     

     

    

  

TABLE
OF CONTENTS

 

	Contents		 	Page
	1.	DEFINITIONS AND INTERPRETATION	 	1
	2.	EFFECTIVE DATE OF AGREEMENT	 	5
	3.	CREATION AND ISSUE OF WARRANTS	 	5
	4.	EXERCISE OF WARRANTS	 	5
	5.	ADJUSTMENTS	 	8
	6.	ISSUE OF WARRANT SHARES	 	9
	7.	LAPSE AND TERMINATION	 	10
	8.	VARIATION	 	10
	9.	CONFIDENTIALITY	 	10
	10.	ASSIGNMENT OR TRANSFER	 	11
	11.	NO PARTNERSHIP	 	11
	12.	NO WAIVER	 	11
	13.	NOTICES	 	11
	14.	RIGHTS OF THIRD PARTIES	 	12
	15.	COSTS	 	12
	16.	ENTIRE AGREEMENT	 	12
	17.	GENERAL	 	12
	18.	COUNTERPARTS	 	12
	19.	GOVERNING LAW AND DISPUTE RESOLUTION	 	13
	 	 	 	 
	Schedule 1 FORM OF EXERCISE NOTICE 	 	14
	Schedule 2 REGISTER 	 	15
	Schedule 3 TERMINATION OF SHARE WARRANT AGREEMENT DATED 17 DECEMBER 2021 	 	16

 

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THIS
AGREEMENT (the “Agreement”) is dated August [●] 2022 BETWEEN:

 

(1)
FAT PROJECTS ACQUISITION CORP. (Company Registration Number: 374480) a Cayman Islands exempted company limited by shares whose office
address is at 27 Bukit Manis Road, Singapore 099892 and whose registered office is at Walkers Corporate Limited, 190 Elgin Avenue, George
Town, Grand Cayman KY1-9008, Cayman Islands (the “Company”); and

 

(2)
CRYSTAL TECHNOLOGY SERVICES PTE. LTD. (Company Registration Number: 201802980W), a Singapore private company limited by shares, whose
registered office is at 446 Hougang Avenue 08, #08-1633, Singapore 530446 (the “Warrantholder”),

 

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

 

RECITALS:

 

(A)
The Company is a Cayman Islands exempted company limited by shares.

 

(B)
The Company has determined to create and issue Warrants to subscribe for Warrant Shares on the terms and subject to the conditions of
this Agreement.

 

IT
IS HEREBY AGREED as follows:

 

		1.	DEFINITIONS
AND INTERPRETATION

 

		1.1	In
this Agreement and in the Schedules unless the context requires otherwise:

 

“Avanseus”
means Avanseus Holdings Pte. Ltd. (Company Registration Number: 201526265R), a company incorporated under the laws of Singapore, whose
registered office is at 230 Victoria Street, #15-01/08, Bugis Junction, Singapore 188024.

 

“Avanseus
Solution” means artificial intelligence software written and developed by Avanseus (as defined below) that monitors a communications
or manufacturing system and predicts pending failures so that they can be prevented before they fail instead of being fixed after they
fail or that monitors inventory and customer demand and predicts customer demand to optimize inventory;

 

“Board”
means the board of directors of the Company;

 

“Business
Combination Agreement” means the Business Combination Agreement entered into on or about the date hereof between the Company
and Avanseus;

 

“Business
Day” means any day other than a Saturday, Sunday or day on which banks in Singapore are required or permitted to be closed;

 

“Cayman
Companies Act” means the Companies Act (As Revised) of the Cayman Islands;

 

“Change
of Control” means any merger, acquisition, disposal, joint venture, reorganisation or other transaction that results in a (direct
or indirect) change of control of the Company;

 

“Channel
Partner” means a vendor of communications or manufacturing products, services or Solutions who is party to a contract or agreement
with Avanseus pursuant to which the products, services or solutions of the vendor either (i) contain Embedded Avanseus Solutions and
are marketed and sold through the joint efforts and cooperation of the vendor and Avanseus or (ii) are marketed and sold with Custom
Avanseus Solutions through the joint efforts and cooperation of the vendor and Avanseus and such contract or agreement is referred to
herein as a “Channel Partner Agreement”;

 

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“Channel
Partner Purchase Order” means Contracts and / or purchase orders received by Avanseus for sales of Custom Avanseus Solutions
or products, services or solutions that contain Embedded Avanseus Solutions pursuant to a Channel Partner Agreement;

 

“Constitution”
means the Third Amended and Restated Memorandum of Association of the Company;

 

“Contract”
means a binding contract or agreement between a vendor and a customer or a purchase order issued to a vendor by a customer that is binding
on the customer if accepted without change by the vendor;

 

“Crystal
Technology” means the initial Warrantholder to whom the Warrants were originally issued pursuant to this Agreement;

 

“Custom
Avanseus Solutions” means an Avanseus Solution or other Avanseus services / solutions, including such solutions as envisaged
under Clause 4.1(c)(i), that is designed and installed or implemented directly into a Customer’s existing software or existing
communications, manufacturing, inventory control or other Customer system, for the provision of services / solutions as mutually agreed;

 

“Customer”
means a legal entity who purchases as an end user, software, services or solutions from Avanseus or from a third-party vendor;

 

“C-level
Officer” means an executive officer of an organization who is or reports directly to the organization’s chief executive
officer, chief operating officer or chief marketing officer;

 

“Embedded
Avanseus Solution” means an Avanseus Solution that is embedded in or integrated with a third-party software solution, such
as but not limited to Amazon Web Services®, Microsoft Azure® or Google Cloud Platform®;

 

“Excluded
Purchase Orders” has the meaning ascribed to it in Clause 4.1(d);

 

“Exercise
Conditions” has the meaning ascribed to it in Clause 4.1;

 

“Exercise
Notice” a notice in writing in the form, or substantially in the form, set out in Schedule 1;

 

“Expert
Accountant” means an audit partner who at the relevant time is from Avanseus’ audit firm (or such other accounting professional
as may be mutually agreed between the parties), acting as an arbitrator;

 

“Hyperscaler”
means a provider of software, hardware and facilities that scale a distributed computing environment (where examples of Hyperscalers
include but are not limited to Amazon Web Services®, Microsoft Azure® or Google Cloud Platform®);

 

“Liquidity
Event” means any of the following:

 

		(a)	a
                                            sale, lease, transfer, exclusive license (without retaining any rights other than the right
                                            to license fees) or other disposition, in a single transaction or series of related transactions,
                                            by the Company or any subsidiary of the Company of all or substantially all of the assets
                                            of the Company, except where such sale, lease, transfer, exclusive license or other disposition
                                            is to a wholly-owned subsidiary of the Company; or

 

		(b)	an
                                            acquisition, whether by merger, amalgamation, restructuring, reconstruction, consolidation
                                            or other reorganization, in which:

 

(i)
the Company is a constituent party;

 

(ii)
a subsidiary of the Company is a constituent party and the Company issues shares in the capital of the Company pursuant to such transaction,
and shareholders of the Company immediately prior to such transaction will, immediately after such transaction, hold less than fifty
per cent. (50%) of the voting shares in the capital of the surviving or resulting corporation; or

 

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(iii)
a sale, in a single transaction or series of related transactions, of fifty per cent. (50%) or more of the voting shares in the capital
of the Company;

 

“Ordinary
Shares” means the Class A ordinary shares of the Company;

 

“Originate”
means to introduce Avanseus to a third party and exert material commercial efforts on behalf of Avanseus that results in a Contract with
Avanseus (which is evidenced by a written acknowledgement signed by a C-level Officer of Avanseus prior to the execution of such Contract,
confirming the Warrantholder was to target and exert such efforts in respect of such Contract), and “Originated” and
“Originates” and similar terms have correlative meanings;

 

“Register”
has the meaning ascribed to it in Clause 3.4;

 

“Representatives”
has the meaning ascribed to it in Clause 9.1(c);

 

“Singapore
Companies Act” means the Companies Act 1967 of Singapore;

 

“Subscription
Price” means US$0.01 per share;

 

“Systems
Integrator” means a company that specializes in implementing, planning, coordinating, scheduling, testing, improving and sometimes
maintaining a computer system comprised of components from multiple unrelated suppliers. Examples of Systems Integrators include but
are not limited to Capgemini, Cognizant, Deloitte, IBM, Accenture, Tata Consultancy Services, Infosys, Boomi, CGI and Aspire Systems;

 

“Telecommunications
Manufacturer” means a manufacturer of telecommunications equipment;

 

“Telecommunications
Company” means an operator of a telecommunications systems, as mutually agreed between the Company and the Warrantholder from
time to time;

 

“Tranche”
has the meaning ascribed to it in Clause 4.1;

 

“Tranche
1 Warrants” means 100,000 of the Warrants that become exercisable upon satisfaction of the Tranche 1 Vesting Criteria;

 

“Tranche
2 Warrants” means 50,000 of the Warrants that become exercisable upon satisfaction of the Tranche 2 Vesting Criteria;

 

“Tranche
3 Warrants” means 200,000 of the Warrants that become exercisable upon satisfaction of the Tranche 3 Vesting Criteria;

 

“Tranche
4 Warrants” means 650,000 of the Warrants that become exercisable in accordance with Clause 4.1(d);

 

“Tranche
4 Objection Statement” has the meaning ascribed to it in Clause 4.1(d)(i);

 

“Tranche
4 Quarterly Payment Amount” has the meaning ascribed to it in Clause 4.1(d)(i);

 

“Tranche
4 Vesting Notice” has the meaning ascribed to it in Clause 4.1(d)(i);

 

“Warrant”
means each of the rights created by this Agreement entitling the Warrantholder to subscribe for one Warrant Share for the Subscription
Price on the terms set out in this Agreement, comprising the Tranche 1 Warrants, Tranche 2 Warrants, Tranche 3 Warrants, Tranche 4 Warrants
subject to adjustment as provided in this Agreement;

 

“Warrant
Shares” means the Company’s Ordinary Shares; and

 

“US$”
means United States dollars, the lawful currency of the United States of America.

 

    3

     

    

 

		1.2	Control:
                                            The word “control” (including its correlative meanings, “controlled
                                            by”, “controls” and “under common control with”)
                                            shall mean, with respect to a corporation, the right to exercise, directly or indirectly,
                                            more than 50 per cent of the voting rights attributable to the shares of the controlled corporation
                                            and, with respect to any person other than a corporation, the possession, directly or indirectly,
                                            of the power to direct or cause the direction of the management or policies of such person.

 

		1.3	Clauses,
                                            Schedules, etc.: References to this Agreement include any Recitals and Schedules to it
                                            and references to Clauses and Schedules are to the clauses of, and schedules to, this Agreement.
                                            The Schedules form part of this Agreement and have the same force and effect as if expressly
                                            set out in the body of this Agreement.

 

		1.4	References
                                            to Subsidiaries and Related Corporations: The words “subsidiary” and
                                            “related corporation” shall have the same meanings in this Agreement as
                                            their respective definitions in the Singapore Companies Act.

 

		1.5	Headings:
                                            The headings used in this Agreement are for convenience only and shall not affect the interpretation
                                            of this Agreement.

 

		1.6	Including:
                                            Unless a contrary indication appears, a reference in this Agreement to “including”
                                            shall not be construed restrictively but shall mean “including without prejudice
                                            to the generality of the foregoing” and “including, but without limitation”.

 

		1.7	Interpretation
                                            Act: The Interpretation Act 1965 of Singapore, shall apply to this Agreement in the same
                                            way as it applies to an enactment.

 

		1.8	Subsidiary
                                            Legislation: References to a statute or statutory provision include any subsidiary or
                                            subordinate legislation made from time to time under that statute or statutory provision.

 

		1.9	Modification
                                            etc. of Statutes: References to a statute or statutory provision include that statute
                                            or statutory provision as from time to time modified, re-enacted or consolidated (whether
                                            before or after the date hereof), so far as such modification, re-enactment or consolidation
                                            applies or is capable of applying to any transaction entered into in accordance with this
                                            Agreement and (so far as liability thereunder may exist or can arise) shall also include
                                            any past statute or statutory provision (as from time to time modified, re-enacted or consolidated)
                                            which such statute or provision has directly or indirectly replaced.

 

		1.10	Others

 

(a)
References to “this Agreement” includes all amendments, additions, and variations thereto agreed between the relevant
Parties in accordance with Clause 8.

 

(b)
References to “day”, “month” or “year” is a reference to a day, month or year
respectively in the Gregorian calendar.

 

(c)
References to a person include any company, limited liability partnership, partnership, business trust or unincorporated association
(whether or not having separate legal personality).

 

(d)
Except where the context specifically requires otherwise, reference to a party or parties is to a Party or Parties.

 

(e)
References to “writing” or “written” includes any non-transitory form of visible reproduction of
words.

 

(f)
Any thing or obligation to be done under this Agreement which is required or falls to be done on a stipulated day, shall be done on the
next succeeding Business Day, if the day upon which that thing or obligation is required or falls to be done falls on a day which is
not a Business Day.

 

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		2.	EFFECTIVE
                                            DATE OF AGREEMENT

 

		2.1	This
                                            Agreement shall only become effective (a) if the Closing (as defined in the Business Combination
                                            Agreement) occurs and (b) the Share Warrant Agreement dated 17 December 2021 between
                                            the Warrantholder and Avanseus (the “Old Warrant Agreement”) is terminated
                                            on the Closing Date (as defined in the Business Combination Agreement) without any further
                                            liability thereunder on the part of either party thereto other than provisions thereof that
                                            are intended to survive such termination. If the Closing occurs and the Old Warrant Agreement
                                            is terminated on the Closing Date, then this Agreement shall be effective as of the Closing
                                            Date. If (y) the Business Combination Agreement is terminated without the occurrence of the
                                            Closing or (z) the Old Warrant Agreement is not terminated on the Closing Date, this Agreement
                                            shall be null and void ab initio and of no force or effect. Warrantholder and the Company
                                            hereby agree that if the Closing occurs and this Agreement becomes effective, the Old Warrant
                                            Agreement shall be automatically terminated with effect from the date of the Business Combination
                                            Agreement, and Warrantholder shall execute and deliver to the Company and Avanseus Holdings
                                            Pte. Ltd. on the Closing Date a termination of the Old Warrant Agreement in substantially
                                            the form attached hereto as Schedule 3.

 

		3.	CREATION
                                            AND ISSUE OF WARRANTS

 

		3.1	The
                                            Company hereby constitutes the Warrants on the terms and subject to the conditions of this
                                            Agreement.

 

		3.2	The
                                            Warrants shall confer the right (but not the obligation) on the Warrantholder to subscribe
                                            for Warrant Shares on the terms and subject to the conditions of this Agreement.

 

		3.3	The
                                            Warrants shall be issued on the date of this Agreement to the Warrantholder.

 

		3.4	The
                                            Company shall maintain a register of Warrantholders (the “Register”) in
                                            accordance with Schedule 2.

 

		4.	EXERCISE
OF WARRANTS

 

		4.1	The
                                            Warrants may be exercised by the Warrantholder in the following four (4) tranches (each,
                                            a “Tranche”), provided that the exercise conditions for each Tranche described
                                            in this Clause (the “Exercise Conditions”) are met:

 

Tranche
1:

 

		(a)	Tranche
                                            1 Vesting. The Tranche 1 Warrants will vest and become exercisable on the Tranche 1 Vesting
                                            Date provided the Tranche 1 Vesting Date occurs before the Tranche 1 Vesting Deadline.

 

		(i)	“Tranche
1 Vesting Criteria” means the entry by Avanseus into a Contract Originated by Crystal Technology where (i) Avanseus partners
with a Hyperscaler, and/or a Systems Integrator and/or Telecommunications Company, (ii) the Contract provides for minimum aggregate payments
to Avanseus of US$1,000,000, and (iii) results in the provision of a Solution to a Telecommunications Company that contains an Embedded
Avanseus Solution.

 

		(ii)	“Tranche
1 Vesting Date” means the date of the receipt by Avanseus of the first payment pursuant to the Contract described in the Tranche
1 Vesting Criteria.

 

		(iii)	“Tranche
1 Vesting Deadline” means December 31, 2023.

 

Tranche
2:

 

		(b)	Tranche
                                            2 Vesting. The Tranche 2 Warrants will vest and become exercisable on the Tranche 2 Vesting
                                            Date provided that the Tranche 2 Vesting Date occurs before the Tranche 2 Vesting Deadline.

 

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		(i)	“Tranche
                                            2 Vesting Criteria” means Avanseus entering into a Contract for the provision of
                                            one or more Custom Avanseus Solutions to a Telecommunications Company which (i) is publicly
                                            announced by an official press release issued by the C-Level Officer of the Telecommunications
                                            Company (the content of which will need to be agreed with Avanseus) and (ii) was Originated
                                            by Crystal Technology.

 

		(ii)	“Tranche
                                            2 Vesting Date” means the date on which the Tranche 2 Vesting Criteria are satisfied.

 

		(iv)	“Tranche
2 Vesting Deadline” means December 31, 2023.

 

Tranche
3:

 

		(c)	Tranche
                                            3 Vesting. Half of the Tranche 3 Warrants will vest and become exercisable on the Tranche
                                            3 Vesting Date with respect to each of two Contracts described in the Tranche 3 Vesting Criteria
                                            provided that the Tranche 3 Vesting Date for that Contract occurs before the Tranche 3 Vesting
                                            Deadline.

 

		(i)	“Tranche
                                            3 Vesting Criteria” means Avanseus entering into a Contract with a Telecommunications
                                            Company / Channel Partner or a Systems Integrator for a solution to be deployed in one or
                                            more countries within the European Union, which Contract (i) is for the provision of one
                                            or more Custom Avanseus Solutions (A) for Data Centers within the operations infrastructure
                                            of the Telecommunications Company, (B) prediction of the degradation of the performance of
                                            one or more software applications of the Telecommunications Company, (C) for reducing the
                                            energy usage of the Telecommunications Company, (D) for detecting anomalies or outliers in
                                            the performance of the Telecommunications Company’s telecommunications network or (E)
                                            for the provision of services / solutions as mutually agreed (ii) provides for minimum aggregate
                                            payments to Avanseus of US$1,000,000 and (iii) was Originated by Crystal Technology.

 

		(ii)	“Tranche
                                            3 Vesting Date” means with respect to each Contract described in the Tranche 3
                                            Vesting Criteria, the date of the receipt by Avanseus of the first payment pursuant to that
                                            Contract.

 

		(iv)	“Tranche
3 Vesting Deadline” means December 31, 2024.

 

Tranche
4:

 

		(d)	Tranche
                                            4 Vesting. Tranche 4 Warrants will vest at the rate of one (1) warrant for each US$30.7692
                                            of Channel Partner Purchase Order payments actually received by Avanseus pursuant to Contracts
                                            entered into by Avanseus between the date of this Agreement and December 31, 2024 (excluding
                                            the first US$1,000,000 of payments received by Avanseus with respect to Contracts described
                                            in the Tranche 1 Vesting Criteria, and excluding the first US$1,000,000 of payments received
                                            by Avanseus with respect to Contracts described in the Tranche 3 Vesting Criteria (the “Excluded
                                            Purchase Orders”) subject to the requirements, provisions and limitations set forth
                                            in this Clause 4.1(d), and will be exercisable within a period of 30 days after the date
                                            upon which each Tranche 4 Quarterly Payment Amount is deemed final in accordance with this
                                            Clause 4.1(d)(i) to (v). Each Tranche 4 Warrant vested shall expire on the fifth anniversary
                                            of the date on which such Tranche 4 Warrant vested in accordance with this Clause 4.1(d)
                                            and upon expiry the relevant Tranche 4 Warrant shall be deemed forfeited.

 

    6

     

    

 

		(i)	Within
                                            fifteen (15) Business Days after the end of each calendar quarter, Avanseus will determine
                                            the amount of Channel Partner Purchase Order payments actually received by Avanseus (each
                                            a “Tranche 4 Quarterly Payment Amount”) and provide Crystal Technology
                                            with written notice of the amount of such Channel Partner Purchase Order for that calendar
                                            quarter, the calculation thereof in reasonable detail and the number of Tranche 4 Warrants
                                            that have vested for that calendar quarter as a result of Avanseus’ receipt of such
                                            payments (a “Tranche 4 Vesting Notice”). Unless Crystal Technology disputes
                                            the amount of any Tranche 4 Vesting Notice within ten (10) Business Days of its receipt of
                                            that Tranche 4 Vesting Notice by written notice to Avanseus (a “Tranche 4 Objection
                                            Statement”), Avanseus’ determination of the amount of Channel Partner Purchase
                                            Order payments received for the calendar quarter and the number of Tranche 4 Warrants that
                                            vest for that calendar quarter will be final and binding. If Crystal Technology delivers
                                            a Tranche 4 Objection Statement, Avanseus shall grant Crystal Technology and/or its representatives
                                            reasonable access during normal business hours to Avanseus’ books and records pertaining
                                            to Channel Partner Purchase Orders for the following 10 Business Days in order to verify
                                            Avanseus’ computations.

 

		(ii)	If
                                            Avanseus and Crystal Technology cannot resolve any dispute with respect to any Tranche 4
                                            Vesting Notice and a Tranche 4 Objection Statement within 20 Business Days following Crystal
                                            Technology’s timely delivery of the Objections Statement, all remaining objections
                                            will be resolved by the Expert Accountant. Avanseus and Crystal Technology will each be responsible
                                            for their own costs in resolving the objections and will evenly split the Expert Accountant’s
                                            fees and costs. The procedure for resolution of the objections shall be limited to (i) each
                                            of Avanseus and Crystal Technology making a single written submission to the Expert Accountant,
                                            and (ii) a single telephone conference call or virtual meeting among the Expert Accountant,
                                            Avanseus and Crystal Technology unless the Expert Accountant requests additional submissions
                                            or conferences, and Avanseus and Crystal Technology shall use reasonable efforts to cause
                                            the Expert Accountant to issue his or her written determination within 60 days after the
                                            dispute is submitted to the Expert Accountant. The Expert Accountant’s determination
                                            shall be final, binding and non-appealable and may be entered in any court of competent jurisdiction.

 

		(iii)	The
                                            vesting of Tranche 4 Warrants shall be limited to the first US$20,000,000 of Channel Partner
                                            Purchase Order payments (excluding payments under the Excluded Purchase Orders) actually
                                            received by Avanseus pursuant to Contracts entered into by Avanseus between the date of this
                                            Agreement and December 31, 2024.

 

		(iv)	Notwithstanding
                                            any other provision hereof to the contrary if by midnight on December 31, 2023, Avanseus
                                            has not entered into Contracts between the date of this Agreement and December 31, 2023
                                            falling within Clause 4.1(d) above for Channel Partner Purchase Order payments to Avanseus
                                            of in aggregate at least US$10,000,000 (excluding the Excluded Purchase Orders) then the
                                            Warrantholder shall be deemed to have forfeited a number of Tranche 4 Warrants equal to:
                                            (A) the difference between US$10,000,000 and the aggregate amount of Channel Partner Purchase
                                            Order payments payable to Avanseus under such Contracts, divided by (B) US$30.7692.

 

Example:

 

At
31 December 2023, if Avanseus has entered into Contracts between the date of this Agreement and December 31, 2023 for Channel
Partner Purchase Order payments (excluding Excluded Purchase Orders) of in aggregate US$8M, then the number of Tranche 4 Warrants forfeited
is: US$2M / US$30.7692 = 65,000.

 

		(v)	Notwithstanding
                                            any other provision hereof to the contrary, if by midnight on December 31, 2024, Avanseus
                                            has not entered into Contracts between this Agreement date and December 31, 2024 falling
                                            within Clause 4.1(d) above for Channel Partner Purchase Order payments to Avanseus of in
                                            aggregate at least US$20,000,000 then the Warrantholder shall be deemed to have forfeited
                                            a number of Tranche 4 Warrants equal to: (A) the difference between US$20,000,000 and the
                                            aggregate amount of Channel Partner Purchase Order payments payable to Avanseus under such
                                            Contracts, divided by (B) US$30.7692. Any and all Warrants forfeited under Clause 4.1(d)
                                            (iv) above will be removed from the calculation of the USD 20,000,000 referred in this clause.

 

    7

     

    

 

Example:

 

At
December 31st, 2024, if Avanseus has entered into Contracts between the date of this Agreement and December 31st, 2024 for
Channel Partner Purchase Order payments (excluding Excluded Purchase Orders) of in aggregate US$18M, then the number of Tranche 4 Warrants
forfeited is: US$2M / US$30.7692 = 65,000.

 

		4.2	Where
                                            applicable, the Parties shall discuss and negotiate in good faith mutually agreed terms for
                                            Channel Partner Purchase Order payments generated by the Warrantholder for Avanseus in excess
                                            of the first USD 20,000,000 (excluding the Excluded Purchase Orders) as referred to in Clause
                                            4.1(d).

 

		4.3	If
                                            an effective resolution is passed or an order is made for the winding up of the Company (otherwise
                                            than for the purposes of a reconstruction, consolidation, amalgamation or merger of the Company),
                                            all unexercised Warrants shall automatically lapse and cease to be exercisable on the date
                                            of that resolution or order.

 

		4.4	The
                                            Warrantholder may exercise any vested Warrants on any number of occasions by lodging a duly
                                            completed Exercise Notice (the form of which is set out in Schedule 1)
                                            with the Company in accordance with Clause 13, together with any other documentation the
                                            Company may require (including but not limited to a share application form). Once lodged
                                            with the Company, an Exercise Notice shall be irrevocable save with the consent of the Board.

 

		5.	ADJUSTMENTS

 

		5.1	Shares
                                            Dividends; Subdivisions. If after the date hereof, the number of outstanding Ordinary
                                            Shares is increased by a capitalization or share dividend of Ordinary Shares, or by a sub-division
                                            of Ordinary Shares, or other similar event, then, on the effective date of such share capitalization,
                                            sub-division or similar event, the number of Ordinary Shares issuable on exercise of each
                                            Warrant shall be increased in proportion to such increase in outstanding Ordinary Shares.

 

		5.2	Aggregation
                                            of Shares. If after the date hereof, the number of outstanding Ordinary Shares is decreased
                                            by a consolidation, combination, reverse sub-division or reclassification of Ordinary Shares
                                            or other similar event, then, on the effective date of such consolidation, combination, reverse
                                            sub-division, reclassification or similar event, the number of Ordinary Shares issuable on
                                            exercise of each Warrant shall be decreased in proportion to such decrease in outstanding
                                            Ordinary Shares.

 

		5.3	Adjustments
in Exercise Price. Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided
in Clauses 5.1 and 5.2 above, the Subscription Price shall be adjusted (to the nearest cent) by multiplying such Subscription Price immediately
prior to such adjustment by a fraction (x) the number of which shall be the number of Ordinary Shares purchasable upon the exercise of
the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of Ordinary Shares so purchasable
immediately thereafter.

 

    8

     

    

 

		5.4	Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares (other
than a change covered by Clause 5.1 or 5.2 hereof or that solely affects the par value of the Ordinary Shares), or in the case of any
merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is
the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or
in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety
or substantially as an entirety in connection with which the Company is dissolved, the Warrantholder shall thereafter have the right
to receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares of the Company
immediately theretofore receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that the Warrantholder would have received if such Warrantholder had exercised his, her or its Warrant(s)
immediately prior to such event. If any reclassification also results in a change in the Ordinary Shares covered by Clause 5.1 or 5.2,
then such adjustment shall be made pursuant to Clauses 5.1, 5.2, and this Clause 5.4. The provisions of this Clause 5.4 shall similarly
apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. In no event will the Subscription
Price be reduced to less than the par value per share issuable upon exercise of the Warrant.

 

		5.6	Notices
of Changes in Warrant. Upon every adjustment of the Subscription Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Subscription Price resulting from such
adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting
forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event
specified in Clauses 5.1, 5.2, or 5.4, then, in any such event, the Company shall give written notice to Warrantholder, at the last address
set forth for such holder in the Register, of the record date or the effective date of the event. Failure to give such notice, or any
defect therein, shall not affect the legality or validity of such event.

 

		5.7	No
Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares upon exercise of Warrants. If, by reason of any adjustment made pursuant to this Clause 5, the holder of any Warrant
would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise,
round down to the nearest whole number of Ordinary Shares to be issued to the Warrantholder.

 

		5.8	Other
                                            Events. In case any event shall occur affecting the Company as to which none of the provisions
                                            of preceding subclauses of this Clause 5 are strictly applicable, but which would require
                                            an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the
                                            Warrants and (ii) effectuate the intent and purpose of this Clause 5, then, in each such
                                            case, the Company shall appoint a firm of independent public accountants, investment banking
                                            or other appraisal firm of recognized national standing, which shall give its opinion as
                                            to whether or not any adjustment to the rights represented by the Warrants is necessary to
                                            effectuate the intent and purpose of this Clause 5 and, if they determine that an adjustment
                                            is necessary, the terms of such adjustment. The Company shall adjust the terms of the Warrants
                                            in a manner that is consistent with any adjustment recommended in such opinion.

 

		6.	ISSUE
OF WARRANT SHARES

 

		6.1	Subject
                                            to the Constitution, the Cayman Companies Act and any applicable legal and regulatory requirements,
                                            completion of the allotment and issue of Warrant Shares following an exercise of the Warrants
                                            in accordance with Clause 4 shall take place at the registered office of the Company within
                                            twenty (20) Business Days (or such other place and date as mutually agreed by the Parties)
                                            after receipt by the Company of:

 

(a)
all of the documents referred to in Clause 4.4; and

 

(b)
payment by telegraphic transfer to the Company’s Bank Account (to be notified by the Company to the Warrantholder) of the relevant
Subscription Price for the number of Warrant Shares specified in the relevant Exercise Notice.

 

    9

     

    

 

		6.2	Upon
                                            completion of an allotment and issue of Warrant Shares, the Company shall, subject to the
                                            Constitution:

 

(a)
Enter, or cause to be entered by the Company’s registrar and transfer agent, the Warrantholder (or its nominee, as appropriate)
in the Company’s register of shareholders as the holder of the number of Warrant Shares issued to it; and

 

(b)
Deliver, or cause to be delivered by the Company’s registrar and transfer agent, to the Warrantholder a duly executed share certificate
for the number of Warrant Shares issued to it or make an appropriate entry into the electronic register of the Company’s shares
and shareholders with confirmation of such entry to be delivered to the Warrantholder.

 

		6.3	Upon
                                            the Company’s receipt of the Subscription Price therefore, the Warrant Shares issued
                                            upon exercise of vested Warrants shall be fully paid and non-assessable.

 

		6.4	No
                                            fractions of a Warrant Share shall be allotted or issued on the exercise of any Warrants.
                                            If the exercise of any Warrants would require a fraction of a Warrant Share to be allotted,
                                            the aggregate number of Warrant Shares so allotted to a Warrantholder will be rounded down
                                            to the nearest whole Warrant Share. In the event of such rounding down for fractional shares,
                                            no refund will be made to the Warrantholder.

 

		7.	LAPSE
                                            AND TERMINATION

 

This
Agreement shall automatically lapse and terminate upon the earlier of:

 

(a)
the full exercise of all the Warrants; or

 

(b)
the expiry of all the Warrants (which have not already been exercised) in accordance with Clause 4;

 

provided
that nothing in this Clause 7 shall release any Party from liability for breaches of this Agreement which occurred prior to its termination.

 

		8.	VARIATION

 

The
provisions of this Agreement may be amended, varied, replaced or otherwise changed in any way at any time with the prior written consent
of the Company and the Warrantholder.

 

		9.	CONFIDENTIALITY

 

		9.1	Each
                                            Party undertakes to keep confidential and at all times not disclose publicly or to any third
                                            party without the prior written consent of the other Party the terms of this Agreement, the
                                            substance of any negotiations between the Parties relating to this Agreement and any other
                                            information received or obtained as a resulting of entering into this Agreement, unless and
                                            to the extent that:

 

(a)
the disclosure or use is required by law, any governmental or regulatory body, or by any recognised securities exchange on which the
shares of the Company is listed;

 

(b)
the disclosure or use is required for the purpose of any judicial proceedings arising out of this Agreement or any other agreement entered
into under or pursuant to this Agreement;

 

(c)
the disclosure is made to the bankers, professional advisers, consultants, related corporations or affiliates of any Party (collectively,
the “Representatives”) for the purpose of this Agreement or for a purpose connected or related to the operation of
this Agreement, on terms that each Representative receiving the information agrees to comply with the provisions of this Clause 9 in
respect of such information as if it were a party to this Agreement;

 

(d)
the disclosure is made by a Party to its existing or potential investors, on terms that each such investor receiving the information
agrees to comply with the provisions of this Clause 9 in respect of such information as if it were a party to this Agreement;

 

    10

     

    

 

(e)
the information is or becomes publicly available (other than by breach of this Agreement);

 

(f)
the Party whose information is to be disclosed or used has given prior written approval to the disclosure or use; or

 

(g)
the information is independently developed by the recipient or is lawfully in its possession prior to the disclosure to it of the information,

 

provided
that prior to disclosure or use of any information pursuant to Clause 9.1(a), the Party concerned shall, to the extent permitted by law,
promptly notify the other Party of such requirement.

 

		9.2	Without
                                            prejudice to the generality of the foregoing, each Party shall take all reasonable steps
                                            to minimise the risk of disclosure of confidential information, by ensuring that only their
                                            employees, officers and directors whose duties will require them to possess any of such information,
                                            shall have access thereto, and that they shall be obliged to treat the same as confidential.

 

		9.3	If
                                            a Party or any of its Affiliates or their respective Representatives have disclosed any confidential
                                            information in breach of any provisions of this Agreement, they shall immediately notify
                                            the other Party in writing of such breach.

 

		9.4	The
                                            obligations contained in this Clause 9 shall endure, even after the termination of this Agreement,
                                            without limit in point of time except and until any confidential information enters the public
                                            domain as set out above.

 

		10.	ASSIGNMENT
OR TRANSFER

 

		10.1	All
                                            rights and obligations hereunder, are personal to the Parties and a Party shall not assign
                                            or transfer all or part of its rights or obligations under this Agreement without the prior
                                            written consent of the other Party.

 

		10.2	Unless
                                            the Warrantholder has obtained the prior written consent of the Company, the Warrantholder
                                            shall not assign, transfer, mortgage, charge, declare a trust over, or deal in any other
                                            manner with its Warrants or any of its rights under this Warrant.

 

		11.	NO
PARTNERSHIP

 

The
relationship between the Parties shall not constitute a partnership.

 

		12.	NO
WAIVER

 

No
failure on the part of any Party to exercise and no delay on the part of any Party in exercising any right hereunder will operate as
a release or waiver thereof, nor will any single or partial exercise of any right under this Agreement preclude any other or further
exercise of it.

 

		13.	NOTICES

 

All
notices, demands or other communications required or permitted to be given or made under this Agreement shall be in writing and in the
English language and shall be sent to the recipient at its address, or electronic mail address set out below, or as otherwise directed
by the recipient by notice given in accordance with this Clause 13.

 

		The Company	Fat
Projects Acquisition Corp

27
Bukit Manis Road, Singapore 099892

Email:
david@fatprojects.com / nils@fatprojects.com

Attention:
David Andrada / Nils Michaelis

 

    11

     

    

 

With
copy to:

 

Avanseus
Holdings Pte. Ltd.

230,
Victoria Street, #15-01/08, Bugis

Junction,
Singapore 188024

Email:
bhargab.mitra@avanseus.com

Attention:
Chief Executive Officer

 

		The Warrantholder	Crystal Technology Services Pte. Ltd.

446
Hougang Avenue 08, #08-1633,

Singapore
530446

Email:
thukkaram@crystalts.com

Attention:
The Board of Directors

 

Any
such notice, demand or communication shall be deemed to have been duly served immediately if hand delivered or one (1) Business Day after
sending by local courier and in proving the same it shall be sufficient to show the receipt from the local courier showing that package
was duly addressed and the date on which it was sent or (if given or made by electronic mail) immediately and in proving the same it
shall be sufficient to show the electronic mail has been sent in full to the recipient’s electronic mail address.

 

		14.	RIGHTS
OF THIRD PARTIES

 

A
person who is not a party to this Agreement has no rights under the Contracts (Rights of Third Parties) Act 2001 of Singapore to enforce
any provision of this Agreement.

 

		15.	COSTS

 

The
Parties to this Agreement shall bear their own costs and disbursements incurred in the negotiation and preparation of this Agreement
and of matters incidental to this Agreement.

 

		16.	ENTIRE
AGREEMENT

 

This
Agreement and any other documents delivered pursuant to this Agreement (i) contain the entire agreement of the Parties with respect to
the subject matter hereof and (ii) supersede all prior agreements, arrangements, understanding, promises, covenants, representations
and communications between the Parties, whether written or oral, with respect to the subject matter hereof. Each Party agrees that it
shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that
is not set out in this Agreement. Each Party agrees that it shall have no claim for innocent or negligent misrepresentation based on
any statement in this Agreement.

 

		17.	GENERAL

 

		17.1	As
                                            all Parties have participated in the drafting of this Agreement, the Parties agree that any
                                            Applicable Law or rule requiring the construction of this Agreement or any provision hereof
                                            against the Party drafting this Agreement shall not apply.

 

		17.2	The
                                            illegality, invalidity or unenforceability of any provision (or part thereof) of this Agreement
                                            under the law of any jurisdiction shall not affect the legality, validity or enforceability
                                            of the remainder of such provision or any other provision.

 

		18.	COUNTERPARTS

 

This
Agreement may be signed in any number of counterparts and by the Parties on separate counterparts, each of which, when so executed, shall
be an original, but all counterparts shall together constitute one and the same document. Signatures may be exchanged by e-mail, with
original signatures to follow. Each Party agrees to be bound by its own electronic signature and that it accepts the electronic signature
of the other Parties.

 

    12

     

    

 

		19.	GOVERNING
LAW AND DISPUTE RESOLUTION

 

		19.1	This
                                            Agreement shall be governed by, and construed in accordance with, the laws of Singapore.

 

		19.2	Any
                                            dispute arising out of or in connection with this contract, including any question regarding
                                            its existence, validity or termination, shall be referred to and finally resolved by arbitration
                                            administered by the Singapore International Arbitration Centre (“SIAC”)
                                            in accordance with the Arbitration Rules of the Singapore International Arbitration Centre
                                            (“SIAC Rules”) for the time being in force, which rules are deemed to
                                            be incorporated by reference in this clause. The seat of the arbitration shall be Singapore.
                                            The Tribunal shall consist of one (1) arbitrator. The language of the arbitration shall be
                                            English.

 

    13

     

    

 

Schedule 1

 

FORM
OF EXERCISE NOTICE

 

EXERCISE
NOTICE

 

To:

 

[AVANSEUS
HOLDINGS CORPORATION],

formerly
known as Fat Projects Acquisition Corp.

(the
“Company”)

230
Victoria Street

#15-01/08
Bugis Junction

Singapore
188024

 

Date:
[☐]

 

This
Exercise Notice is issued pursuant to Clause 4.4 of the Share Warrant Agreement dated [●] 2022 entered into between us and the
Company (the “Agreement”). Terms defined in the Agreement have the same meanings when used in this Exercise Notice,

 

We
hereby exercise the Tranche [1 / 2 / 3 / 4] Warrants in respect of [NUMBER] Warrant Shares, and confirm payment in the sum of [AMOUNT],
being the aggregate Subscription Price payable for those Warrant Shares.

 

We
direct the Company to:

 

1.
procure the allotment of the Warrant Shares to us in accordance with the terms of the Agreement, to be held subject to the Constitution;
and

 

2.
enter our name, in the register of members of the Company and to issue a share certificate for the relevant number of Warrant Shares
to us.

 

Signed
by

 

Name:
[☐]

Title:
[Director]

for
and on behalf of

[NAME
OF WARRANTHOLDER]

 

    14

     

    

 

Schedule 2

 

REGISTER

 

		1.	The
                                            Company shall keep and maintain the Register and there shall be entered in the Register:

 

(a)
the names and addresses of the Warrantholder;

 

(b)
the number of Warrants held by the Warrantholder;

 

(c)
the date on which the Warrantholder was registered as a Warrantholder;

 

(d)
the date on which the Warrantholder exercises any Warrants and the number of Warrants Shares to be issued pursuant to such exercise;

 

(e)
the date at which the Warrantholder ceased to be a Warrantholder.

 

		2.	The
                                            Company shall amend the Register after receiving notice of a change in the Warrantholder’s
                                            details.

 

		3.	The
                                            Warrantholder or any person authorised by a Warrantholder, shall be at liberty to request
                                            the Company to provide a copy of the Register for inspection.

 

		5.	The
                                            Company shall be entitled to treat each person named in the Register as a Warrantholder as
                                            the absolute owner of a Warrant and, accordingly, shall not, except as ordered by a court
                                            of competent jurisdiction or as required by law, be bound to recognise any equitable or other
                                            claim to or interest in a Warrant on the part of any other person, whether or not it shall
                                            have express or other notice of such a claim.

 

		5.	Every
                                            Warrantholder shall be recognised by the Company as entitled to its Warrants free from any
                                            equity, set-off or cross-claim against the original or an intermediate holder of such Warrants.

 

    15

     

    

 

Schedule 3

 

TERMINATION
OF SHARE WARRANT AGREEMENT DATED 17 DECEMBER 2021

 

This
Termination Agreement is entered into as of [●], 20[●] by and between:

 

(1)
AVANSEUS HOLDINGS PTE. LTD. (Company Registration Number: 201526265R), a company incorporated under the laws of Singapore, whose
registered office is at 230 Victoria Street, #15-01/08, Bugis Junction, Singapore 188024 (the “Company”); and

 

(2)
CRYSTAL TECHNOLOGY SERVICES PTE. LTD. (Company Registration Number: 201802980W), a Singapore private company limited by shares,
whose registered office is at 446 Hougang Avenue 08, #08-1633, Singapore 530446 (the “Warrantholder”),

 

In
consideration of the mutual covenants and agreements set forth herein and the entry of Warrantholder and FAT PROJECTS ACQUISITION
CORP. into that certain new Share Warrant Agreement dated [●], 2022, the Warrantholder and the Company hereby agree that the
old Share Warrant Agreement dated 17 December 2021 between the Company and Warrantholder is hereby terminated without any remaining
liability on the part of either Warrantholder or the Company other than the obligation to continue to comply with the provisions thereof
that expressly survive termination as provided therein.

 

IN
WITNESS WHEREOF this Termination Agreement has been entered into on the date stated at the beginning.

 

AVANEUS
HOLDINGS PTE. LTD.

a
Singapore private company

limited
by shares

 

 

	 	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

CRYSTAL
TECHNOLOGY SERVICES PTE. LTD.

a
Singapore private company

limited
by shares

 

 

	 	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 

 

    16

     

    

 

IN
WITNESS WHEREOF this Agreement has been entered into on the date stated at the beginning.

 

	 	FAT PROJECTS ACQUISITION CORP,
	 	a Cayman Islands exempted company
	 	limited by shares
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	CRYSTAL TECHNOLOGY SERVICES PTE. LTD.,
	 	a Singapore private company
	 	limited by shares
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    17

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