Document:

Exhibit 10.1

 

Dated
this 28th day of December 2019.

 

 

 

 

Between

 

		(1)	RODRIGUES
                                         GERARD ANTHONY

(NRIC
No.: S7246780I)

 

		(2)	ZUZARTE
                                         DESMOND GERARD

(NRIC
No.: S7045407F)

 

(the
“Vendors”)

 

And

 

REBEL
GROUP, INC.

 

(the
“Purchaser”)

 

 

 

 

 

SALE
& PURCHASE AGREEMENT

 

 

 

 

 

 

M/s
Mahmood Gaznavi & Partners

 

111
North Bridge Road

 

#11-02
Peninsula Plaza

 

Singapore
179098

 

Tel:
6336-5455

 

Fax:
6335-5755

 

File
Ref: MG.0300.19O

 

     

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Table
of Contents

 

	1.   	DEFINITIONS	4
	2.   	SALE
    OF TARGET SHARES AND PURCHASE CONSIDERATION	4
	3.   	VENDOR’S
    RIGHTS TO BUY-BACK	5
	4.   	EARN
    OUT	6
	5.   	MORATORIUM	10
	6.   	CONDITIONS
    PRECEDENT	11
	7.   	COMPLETION	12
	8.   	VENDORS’
    WARRANTIES	15
	9.   	PURCHASER
    WARRANTIES	15
	10.   	INDEMNITY	17
	11.   	RESTRAINT
    OF TRADE	18
	12.   	NON-SOLICITATION	18
	13.   	TERMINATION	18
	14.   	COSTS
    & EXPENSES	19
	15.   	CONFIDENTIALITY	19
	16.   	GOVERNING
    LAW & JURISDICTION	21
	17.   	ASSIGNMENT	21
	18.   	ENFORCEABILITY	21
	19.   	NO
    WAIVER	21
	20.   	ENTIRE
    AGREEMENT	22
	21.   	AMENDMENTS	22
	22.   	RIGHTS
    OF THIRD PARTIES	22
	23.   	GENERAL	22
	Schedule
    1 – The Vendors	25
	Schedule
    2 – Definitions and Interpretation	26
	Schedule
    3 – Completion Certificates	30

 

     

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THIS
AGREEMENT IS MADE ON THIS ______ DAY OF _________________ 2019

 

BETWEEN:-

 

		(1)	RODRIGUES
                                         GERARD ANTHONY (NRIC No.: S7246780I) of 16A Woo Mon Chew Road, Siglap Park, Singapore
                                         455070;

 

		(2)	ZUZARTE
                                         DESMOND GERARD (NRIC No.: S7045407F) of 718 Bedok Reservoir Road #05-4616, Singapore
                                         470718;

 

(each
a “Vendor”, and collectively referred to as the “Vendors”)

 

And

 

		(3)	REBEL
                                         GROUP INC. (Business Registration No.: 45-336079) of 7500A Beach Road, #12-313, The
                                         Plaza, Singapore 199591.

 

(hereinafter
referred to as the “Purchaser”).

 

(each
a “Party”, and collectively, the “Parties”).

 

WHEREAS:

 

		(A)	Rebel
                                         Group, Inc. (the “Purchaser"), through Pure Heart Entertainment Pte.
                                         Ltd. (the “Purchasing Company” ), a fully owned subsidiary of the
                                         Purchaser, intends to acquire 100,000 ordinary shares ("Target Shares")
                                         representing the entire issued share capital of EXPO AV-Insync Pte. Ltd. (the "Target
                                         Company") from the Vendors (as named in Schedule 1) ("Proposed Acquisition”).

 

     

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		(B)	The
                                         Target Company is a private limited liability company incorporated in and under the laws
                                         of the Republic of Singapore, and is principally engaged in the supply of audio and video
                                         equipment related services including professional audio/ lighting/ LED projection, camera
                                         production & rigging rental - staging services, technical layout & designs, 2D
                                         & 3D animation, 3D & video mapping, post production, content production &
                                         augmented reality and on-site project management.

 

		(C)	The
                                         Vendors are agreeable to selling all of their shares in the Target Company to the Purchaser.

 

		(D)	The
                                         Parties are desirous of entering into this Agreement to govern the terms and conditions
                                         of the Proposed Acquisition.

 

IT
IS HEREBY AGREED AS FOLLOWS:

 

		1.	DEFINITIONS

 

		1.1	The
                                         words and expressions used in this Agreement shall have the meanings set out in Schedule
                                         2 unless the context otherwise requires.

 

		1.2	The
                                         Schedules annexed to this Agreement shall form part of this Agreement.

 

		2.	SALE
                                         OF TARGET SHARES AND PURCHASE CONSIDERATION

 

		2.1	The
                                         Vendors agree to sell, and the Purchaser agrees to purchase, the Target Shares free from
                                         all Encumbrances and together with all rights, advantages, benefits and entitlements
                                         attaching thereto as at the date of the completion of the Proposed Acquisition, attaching
                                         to the Target Shares as at the Completion Date, on the terms and subject to the conditions
                                         set out in this Agreement. Each of the Vendors shall waive in favour of the Purchaser
                                         all pre-emption and other rights which he or she may have or may be entitled to over
                                         any of the Target Shares.

 

		2.2	The
                                         total consideration payable by the Purchaser to the Vendors for the Target Shares (“Purchase
                                         Consideration”) shall be US$6,000,000.

 

		2.3	The
                                         Purchase Consideration shall comprise of the following:-

 

		2.3.1	an
                                         initial consideration of 3,500,000 Consideration Shares with each share valued at US$1.50,
                                         payable on completion (“Completion Consideration”);

 

		2.3.2	a
                                         first potential earn-out consideration of up to 250,000 Earn Out Consideration Shares
                                         with each share valued at US$1.50 if the Target Company achieves a profit of S$1,300,000
                                         before tax during the earn-out period by 31 December 2020; and

 

     

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		2.3.3	a
                                         second potential earn-out consideration of up to 250,000 Earn Out Consideration Shares
                                         with each share valued at US$1.50 if the Target Company achieves a profit of S$2,600,000
                                         before tax over two calendar years during the earn-out period by 31 December 2021.

 

		2.4	The
                                         Completion Consideration shall be satisfied wholly by the Purchaser by way of the allotment
                                         and issuance by the Purchaser to the Vendors (or their nominees, if any) of 3,500,000
                                         new ordinary shares in the capital of the Purchaser (“Consideration Shares”)
                                         in the proportion of 75% - 25% according to the shareholding in Schedule 1, credited
                                         as fully paid, at an issue price of US$1.50 for each Consideration Share.

 

		2.5	The
                                         Earn-Out Consideration shall be satisfied wholly by the Purchaser by way of the allotment
                                         and issuance by the Purchaser to the Vendors (or their nominees, if any) of up to 500,000
                                         new ordinary shares in the capital of the Purchase (“Earn-Out Consideration
                                         Shares”) in the proportion of 75% - 25% according to the shareholding in Schedule
                                         1, credited as fully paid, at an issue price of US$1.50 for each Earn-Out Consideration
                                         Share.

 

		2.6	The
                                         Earn-Out Consideration Shares shall, upon allotment and issuance, be held in escrow,
                                         with an escrow agent to be agreed by the Purchaser and Vendors (“Escrow Agent”),
                                         and be released to the Vendors (or their nominees, if any) in accordance with Clause
                                         4 of this Agreement below.

 

		2.7	The
                                         Consideration Shares and the Earn-Out Consideration Shares shall rank pari passu in
                                         all respects with the then issued ordinary shares in the capital of the Purchaser and
                                         shall be entitled to any dividends, rights, allotment or other distributions save for
                                         any dividends, rights, allotments or other distributions, the record date for which falls
                                         before the date of issue of the Consideration Shares and the Earn-Out Consideration Shares.

 

		3.	VENDOR’S
                                         RIGHTS TO BUY-BACK

 

		3.1	The
                                         Purchaser is in the process of up-listing its public trading status, currently quoted
                                         on the United States Over-The-Counter Market (“US:OTC”), to a full NASDAQ
                                         market listing within a period of nine (9) months from the date of this Agreement (“Up-listing”).

 

		3.2	In
                                         the event that the Purchaser does not secure approval for Up-listing within nine (9)
                                         months from the date of this Agreement, the Vendors shall have the right to re-purchase
                                         the Target Company from the Purchaser, conditional upon completion of this Agreement
                                         (“Buy-Back”).

 

     

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		3.3	Should
                                         the Purchaser not secure approval for Up-listing within nine (9) months from the date
                                         of this Agreement, the Vendors may notify the Purchaser of their intention to effect
                                         the Buy-Back by notice in writing to the Purchaser within thirty (30) days. The Vendors
                                         may elect at their sole discretion to extend the Buy-Back period, and shall notify the
                                         Purchaser of their intention by notice in writing to the Purchaser.

 

		3.3.1	Upon
                                         giving the Purchaser notice in writing of their intention to Buy-Back, the Vendors shall
                                         transfer the Completion Consideration, unencumbered, to an escrow account, with an Escrow
                                         Agent to be agreed by the Purchaser and the Vendors;

 

		3.3.2	The
                                         Purchaser shall execute share transfer forms for the Target Shares, and transfer the
                                         same to the Vendors. Once the share transfer forms are executed to the Satisfaction of
                                         the Vendors, the Completion Consideration shall then be released to the Purchaser;

 

		3.3.3	The
                                         Purchaser shall concurrently, retire or cause to retire all directors whom it has appointed
                                         to the board of the Target Company, and perform handover to the Vendors of all material
                                         documentation which during the Purchaser’s ownership of the Target Company.

 

		3.4	In
                                         the event the Vendors do not notify the Purchaser of their intention to effect the Buy-Back
                                         within the stipulated time frames of Clause 3.3, the Vendors shall be deemed to
                                         have irrevocably waived their rights to Buy-Back the Target Company.

 

		4.	EARN
                                         OUT

 

		4.1	In
                                         respect of each of the first two (2) full calendar years of the Target Company following
                                         Completion (an “Earn-Out Period”), the first Earn-Out Period being
                                         from Completion until 31 December 2020, and the second Earn-Out Period being from Completion
                                         until 31 December 2021.

 

		4.2	For
                                         the period from Completion to 31 December 2020, the Vendors shall be entitled to have
                                         the relevant number of Earn-Out Consideration Shares released to them (or to their nominees,
                                         if any) by the Escrow Agent in accordance with the following formula:

 

X
= ( Y / A ) x Z

 

where:

 

	 	X	=	the
        number of Earn-Out Consideration Shares to be released from escrow for the relevant Earn-Out Period;

         

	 	Y	=	the
        Audited PBT of the Target Company for the relevant Earn-Out Period (this is deemed to be from 1 January 2020), expressed
        in Singapore Dollars (S$);

         

	 	Z	=	the
        total number of Earn-Out Consideration Shares allotted and issued on Completion and held in escrow;

         

	 	A	=	the
amount of S$1,300,000 (as at 31 December 2020), being the target profit for the first Earn-Out Period;

 

     

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save
that:

 

		4.2.1	In
                                         the event that the aggregate Audited PBT of the Target Company during the first Earn-Out
                                         Periods exceeds the amount of S$1,300,000, any amount in excess of the said amount shall
                                         be disregarded; and

 

		4.2.2	Shares
                                         vested following the first Earn-Out Period (31 December 2020) are deemed to have vested
                                         and shall not be divested.

 

		4.3	For
                                         the period from Completion to 31 December 2021, the Vendors shall be entitled to have
                                         the relevant number of Earn-Out Consideration Shares released to them (or to their nominees,
                                         if any) by the Escrow Agent in accordance with the following formula:

 

X
= ( Y / A ) x Z

 

where:

 

	 	X	=	the
        number of Earn-Out Consideration Shares to be released from escrow for the relevant Earn-Out Period;

         

	 	Y	=	the
        Audited PBT of the Target Company for the relevant Earn-Out Period (this is deemed to be from 1 January 2020), expressed
        in Singapore Dollars (S$);

         

	 	Z	=	the
        total number of Earn-Out Consideration Shares allotted and issued on Completion and held in escrow;

         

	 	A	=	the
        amount of S$2,600,000 (as at 31 December 2021), being the target profit for the second Earn-Out Period;

         

 

save
that:

 

		4.3.1	In
                                         the event that the aggregate Audited PBT of the Target Company during the first Earn-Out
                                         Periods exceeds the amount of S$2,600,000, any amount in excess of the said amount shall
                                         be disregarded;

 

		4.3.2	Shares
                                         vested following the first Earn-Out Period (31 December 2020) are deemed to have vested
                                         and shall not be divested;

 

     

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		4.3.3	In
                                         the event that, at the end of the second and final Earn-Out Period, the aggregate Audited
                                         PBT of the Target Company during the two (2) Earn-Out Periods is less than the sum of
                                         S$2,600,000, the Vendors’ rights to any Earn-Out Consideration Shares in respect
                                         of any amounts exceeding the aggregate Audited PBT of the Target Company during the Earn-Out
                                         Periods shall be forfeited.

 

		4.4	The
                                         Audited PBT of the Target Company during each Earn-Out Period for the purposes of Clause
                                         4.2 and Clause 4.3 above shall be determined as follows:

 

		4.4.1	The
                                         accounts of the Target Company in respect of each Earn-Out Period shall be prepared by
                                         the management of the Target Company as promptly as is practicably possible after the
                                         end of the respective calendar years, but in any event, shall be no later than the end
                                         of the second week of the first month of the immediately following calendar year.

 

		4.4.2	The
                                         accounts of the Target Company in respect of each Earn-Out Period shall then be audited
                                         by an auditor to be appointed by the Vendors (the “Auditor”). The
                                         costs and expenses of the Auditor for determining the Audited PBT of the Target Company
                                         hereunder shall be borne by the Vendors.

 

		4.4.3	The
                                         Auditor shall deliver to the Purchaser and the Vendors the calculation (in reasonable
                                         detail) of the Audited PBT of the Target Company for that Earn-Out Period by no later
                                         than twenty-two (22) Business Days after the Auditor having received the accounts of
                                         the Target Company for each Earn-Out Period.

 

		4.4.4	The
                                         decision of the Auditor in respect of the Audited PBT of the Target Company during each
                                         Earn-Out Period shall be final and binding upon the Parties.

 

		4.5	The
                                         Earn-Out Consideration Shares to which the Vendor may be entitled in respect of each
                                         Earn-Out Period in accordance with Clause 4.2 and Clause 4.3 shall be released
                                         from escrow to the Vendors (or to their nominees, if any) by no later than ten (10) Business
                                         Days after the determination by the Auditor of the Audited PBT of the Target Company
                                         for that Earn-Out Period in accordance with Clause 4.2 and Clause 4.3 above.

 

     

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		4.6	The
                                         Purchaser agrees and undertakes to the Vendors that throughout the Earn-Out Periods,
                                         that the Purchaser and/or the Purchasing Company will not (unless otherwise agreed in
                                         writing by the Vendors) take or omit to take any action which may hinder, restrict or
                                         otherwise limit the management of the Target Company in any way whatsoever, from or in
                                         carrying on the business of the Target Company in the ordinary course and consistent
                                         with past practice, insofar as such practice is reasonable and in the best interests
                                         of the Target Company, and the Purchaser further agrees and undertakes to the Vendors
                                         that throughout the Earn-Out Periods:

 

		4.6.1	it
                                         will not (unless otherwise agreed in writing by the Vendors) take or omit to take any
                                         action which would, or would be likely to, prejudice or otherwise adversely affect the
                                         Audited PBT of the Target Company and will use all reasonable endeavours to ensure that
                                         the business of the Target Company will be carried on in all material respects with a
                                         view to the maximisation of profit and in particular, but without limiting the generality
                                         of the foregoing the Purchaser –

 

		4.6.1.1	will
                                         procure that the Target Company will not enter into any artificial or abnormal transaction
                                         (other than in the ordinary course of business) the effect of which would be to materially
                                         adversely affect the Audited PBT of the Target Company;
	 	 	 

		4.6.1.2	will
                                         charge interest on any sums made available to the Target Company at an arm's length rate
                                         of interest;

 

		4.6.1.3	will
                                         procure that the Target Company does not enter into any contract of employment at a remuneration
                                         in excess of S$100,000 or the equivalent thereof on an annual basis;

 

		4.6.1.4	will
                                                                                                                                                                                                               not transfer or dispose of any of the issued share capital of a Target Company or any other interest in the Target Company or
                                                                                                                                                                                                               its business or any part thereof and for this purpose “disposal” shall include (but not be limited to) the grant
                                                                                                                                                                                                               of any option in respect of such shares or business or part thereof (provided that this restriction shall not prevent the
                                                                                                                                                                                                               Purchaser from transferring any such shares or business or part thereof to another company in the Purchaser's
                                                                                                                                                                                                               Group);

 

		4.6.1.5	will
                                         procure that the Target Company does not acquire any interest in any company or business;

 

		4.6.1.6	will
                                         not materially change the business strategy of the Target Company as agreed between the
                                         Parties at the date hereof;

 

		4.6.1.7	will
                                         procure that no resolution will be passed or proposed for a member's voluntary winding-up
                                         of the Target Company nor will any member of the Purchaser's Group present a petition
                                         for an order for the winding-up of the Target Company unless the Target Company shall
                                         be unable to pay its debts;

 

		4.6.1.8	will
                                         procure that the Target Company shall not borrow, raise or take or agree to borrow, raise
                                         or take any money or any financial facility other than in the ordinary course of business;

 

     

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		4.6.1.9	will
                                         procure that the Target Company shall not lend or agree to lend any money or financial
                                         facility other than in the ordinary course of business; and
	 	 	 

		4.6.1.10	will
                                         procure that the Target Company shall relocate its business operations,

 

without
the written consent of the Vendors and subject to an adjustment to the calculation of the Audited PBT;

 

		4.6.2	it
                                         shall procure that the Target Company shall not create, permit to subsist or agree to
                                         create, any mortgage or charge, whether fixed or floating, and whether legal or equitable
                                         in favour of any person; and

 

		4.6.3	it
                                         shall procure that the Target Company shall not give, agree to give, accept any obligation
                                         under or agree to accept any obligation under, any guarantee or indemnity in respect
                                         of the obligations of any third person (including without limitation a member of the
                                         Purchaser's Group).

 

		5.	MORATORIUM

 

		5.1	The
                                         Vendors hereby agree and undertake that they shall, and shall procure their nominees
                                         (if any) to, execute such moratorium undertakings not to directly or indirectly, sell,
                                         contract to sell, offer, realise, transfer of otherwise dispose of any of the Consideration
                                         Shares which may be issued to it on Completion for a period of 12 months from the Completion
                                         Date.

 

		5.2	The
                                         Vendors hereby agree and undertake that they shall, and shall procure their nominees
                                         (if any) to, execute such moratorium undertakings not to directly or indirectly, sell,
                                         contract to sell, offer, realise, transfer or otherwise dispose of a maximum of 50% of:

 

		5.2.1	any
                                         of the Consideration Shares which may be issued to it on Completion; and

 

		5.2.2	any
                                         of the Earn-Out Consideration Shares which may be issued to it

 

for
the period of 12 months from the Completion Date and ending 24 months from the Completion Date.

 

		5.3	For
                                         the avoidance of doubt, prior to the release of the Earn-Out Consideration Shares to
                                         the Vendors (or to their nominees, if any) pursuant to Clause 4, the Vendor (or
                                         its nominee, as the case may be) shall not –

 

     

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		5.3.1	be
                                         entitled to exercise any voting or other rights in relation to such Earn-Out Consideration
                                         Shares; or

 

		5.3.2	be
                                                                                                                                                                                                                                                       entitled to receive any dividends or distributions on such Earn-Out Consideration Shares (though such dividends and
                                                                                                                                                                                                                                                       distributions may accrue and be paid to the Vendors (or their nominees, if any) together with the release of such Earn-Out
                                                                                                                                                                                                                                                       Consideration Shares pursuant to Clause 4); or

 

		5.3.3	create
                                         any Encumbrance over such Earn-Out Consideration Shares.

 

The
above limitations and restrictions shall cease to be applicable after the release of the relevant Earn-Out Consideration
Shares to the Vendors (or their nominees, if any) in accordance with Clause 4 and the latter shall, subject to the
provisions of this Clause, be entitled to exercise full rights and entitlements as holder of such Earn-Out Consideration
Shares thereafter without any of the aforesaid limitations or restrictions.

 

		6.	CONDITIONS
                                         PRECEDENT

 

		6.1	The
                                         obligations of the Parties under this Agreement for the sale and purchase of the Target
                                         Shares shall be subject to and conditional upon the fulfilment of all of the following
                                         conditions precedent which shall include, without limitation, the following:

 

		6.1.1	the
                                         completion by the Purchaser of a valuation of the Target Company, and all legal, financial,
                                         operational, tax and other due diligence on the affairs of the Target Company, and the
                                         results of such due diligence being satisfactory to the Purchaser;

 

		6.1.2	if
                                         required and where necessary, the passing of all and any shareholders’ and/or directors’
                                         resolutions approving the transactions contemplated under this Agreement, including the
                                         approval for the allotment and issuance of the Consideration Shares and the Earn-Out
                                         Consideration Shares to the Vendors;

 

		6.1.3	the
                                         Vendors, the Purchaser and the Purchasing Company having obtained all third party consents
                                         and approvals as may be necessary in connection with the transactions contemplated under
                                         this Agreement, and where any such third party consents and approvals are subject to
                                         conditions, such conditions being satisfactory to the Parties in their reasonable discretion
                                         and such consent being in full force and effect and not having been withdrawn, suspended,
                                         amended or revoked on or before the completion of the Proposed Acquisition;

 

     

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		6.1.4	the
                                         execution of service agreements between each of the Vendors personally with the Target
                                         Company on such terms acceptable to the Purchaser;

 

		6.1.5	the
                                         Vendors undertake that they shall remain as Directors of the Target Company for a period
                                         of 36 months from the Completion Date and further undertake that they will not resign
                                         from their positions as Directors without written consent from the Purchaser; and

 

		6.1.6	there
                                         having been no material adverse change to the business operations, assets, financial
                                         condition, turnover or prospects of the Target Company.

 

		6.2	Notwithstanding
                                         any provision to the contrary in this Agreement, where any consent or approval required
                                         pursuant to Clause 6.1 is subject to the conditions which are required to be fulfilled
                                         before Completion, the relevant Party’s obligation to complete the sale and purchase
                                         of the Target Shares is subject to such conditions being fulfilled before Completion
                                         and such consents or approvals not being revoked or repealed on or before Completion.

 

		6.3	The
                                         Parties hereby agree that, where required, each shall use all of their commercially reasonable
                                         efforts to procure the fulfilment of the conditions precedent set out in Clause 6.1
                                         above.

 

		6.4	The
                                         obligations of the Parties to complete the Acquisition shall become unconditional on
                                         the date when all the conditions referred to in Clause 6.1 above are fulfilled
                                         (other than the conditions which by their nature are required to be fulfilled on the
                                         Completion Date or which have been waived by the relevant Party).

 

		7.	COMPLETION

 

		7.1	Subject
                                         to the satisfaction or waiver of the conditions set out in Clause 6.1 above, Completion
                                         shall take place at the offices of the Purchaser at 11 a.m. (or such other location and/or
                                         time as the Parties may agree in writing) on the Completion Date (or such other date
                                         as the Parties may agree in writing) when all (but not some only) of the business specified
                                         in this Clause 7 shall be transacted simultaneously.

 

		7.2	On
                                         the Completion Date, the Vendors shall:

 

		7.2.1	procure
                                         delivery to the Purchaser of duly executed instrument(s) of transfers in favour of the
                                         Purchasing Company (or any other nominee of the Purchaser) in respect of the Target Shares,
                                         together with the relevant share certificates and all documents required to effect the
                                         stamping of the transfers (including such statutory declarations, letters, worksheets
                                         and valuations as the tax authorities may require);

 

     

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		7.2.2	procure
                                         delivery to the Purchasing Company (or any other nominee of the Purchaser) of share certificates
                                         in respect of all of the issued shares in the capital of the Target Company;

 

		7.2.3	procure
                                         delivery to the Purchaser of duly executed resolutions passed by the board of directors
                                         of the Target Company:

 

		7.2.3.1	authorising
                                         the execution and delivery by the Target Company of this Agreement and all other documents
                                         and agreements ancillary or pursuant thereto or in connection therewith (if any);

 

		7.2.3.2	approving
                                         the transfer of the Target Shares to the Purchasing Company and/or the transfer of all
                                         or any part of the Target Shares to a nominee or nominees appointed by the Purchaser;

 

		7.2.3.3	authorising
                                         the issue of new share certificates in respect of the Target Shares in favour of the
                                         Purchasing Company and/or such nominee(s) of the Purchaser; and

 

		7.2.3.4	approving
                                         the entry into the register of members of the Target Company, the name of the Purchasing
                                         Company and/or such nominee(s) of the Purchaser as the holder of the Target Shares and
                                         the making of such other entries into other corporate records of the Target Company as
                                         may be necessary.

 

		7.2.4	deliver
                                         or procure delivery to the Purchaser of such waivers, consents and other documents as
                                         may be required (if any), all duly executed to give good title to the Target Shares to
                                         the Purchasing Company and/or such nominee(s) of the Purchaser and to enable the Purchasing
                                         Company and/or such nominee(s) of the Purchaser to become the registered holder(s) thereof;

 

		7.2.5	procure
                                         delivery to the Purchaser of, where applicable, the certificates of incorporation, certificates,
                                         business licenses, articles of association, common seal, share register and share certificates,
                                         books (with any unissued share certificates) and all minute books and other statutory
                                         books (which shall be written-up to but not including Completion) of the Target Company;

 

		7.2.6	procure
                                         delivery to the Purchasing Company and/or such nominee(s) of the Purchaser of duly certified
                                         true and accurate copies of the approvals obtained from government authorities for the
                                         transactions contemplated herein, if any, obtained in satisfaction of the conditions
                                         set out in Clause 6.1 above;

 

     

    Page  14 of 34

    

 

		7.2.7	deliver
                                         to the Purchaser applications for the Consideration Shares and Earn-Out Consideration
                                         Shares duly executed by the Vendors and/or their nominee(s), if required;

 

		7.2.8	deliver
                                         to the Purchaser the Vendors’ Completion Certificate signed by the Vendors;

 

		7.2.9	deliver
                                         to the Purchaser the duly executed Moratorium Undertakings in agreed form; and

 

		7.2.10	if
                                         necessary, deliver to the Purchaser a certified extract of a resolution of the board
                                         of directors of the Target Company, authorising the execution of and the performance
                                         by the Vendors of their obligations under this Agreement and each of the other documents
                                         to be executed by each of the Vendors.

 

		7.3	The
                                         Vendors shall procure that the Target Company shall cause the transfers contemplated
                                         above to be registered, subject to prior stamping, in the register of transfers of the
                                         Target Company and shall cause the Target Shares to be registered in the name of the
                                         Purchasing Company and/or such nominee(s) of the Purchaser in the register of the members
                                         of the Target Company subject to the articles of association of the Target Company.

 

		7.4	On
                                         the Completion Date, the Purchaser shall –

 

		7.4.1	in
                                         accordance with its obligations under Clause 2.3, allot and issue to the Vendors
                                         (or their nominees, if any) 3,500,000 new ordinary shares in the capital of the Purchaser;

 

		7.4.2	deliver
                                         to the Vendors a certified extract of resolutions of the board of directors and the shareholders
                                         of the Purchaser authorising the execution of and performance by the Purchaser of its
                                         obligations under this Agreement and each of the other documents to be executed by the
                                         Purchaser, the issue of the Consideration Shares and the Earn-Out Consideration Shares
                                         to the Vendors;

 

		7.4.3	deliver
                                         to the Vendor the Purchaser Completion Certificate signed by the Purchaser;

 

		7.4.4	in
                                         accordance with its obligations under Clause 2.3, allot and issue the Consideration
                                         Shares to the Vendors (or their nominees, if any), and deliver the share certificates
                                         for the Consideration Shares to the Vendors; and

 

		7.4.5	in
                                         accordance with its obligations under Clause 2.3, allot and issue the Earn-Out
                                         Consideration Shares to the Vendors (or their nominees, if any), which shall be held
                                         in escrow by the Escrow Agent and only released to the Vendors (or their nominees, if
                                         any) in accordance with Clause 4.

 

     

    Page  15 of 34

    

 

		8.	VENDORS’
                                         WARRANTIES

 

		8.1	The
                                         Vendors represent and warrant to the Purchaser that the Vendors’ Warranties are
                                         true in all material respects on the date of this Agreement.

 

		8.2	The
                                         representations, warranties and undertakings given hereunder or pursuant hereto by the
                                         Vendors shall not in any respect be extinguished or affected by Completion.

 

		8.3	The
                                         Vendors’ Warranties shall be deemed to be repeated as at Completion with reference
                                         to the facts and circumstances then existing.

 

		8.4	Each
                                         of the Vendors’ Warranties shall be construed as a separate Vendors’ Warranty
                                         and (save as expressly provided to the contrary) shall not be limited or restricted by
                                         reference to or inference from the terms of any other Vendor Warranty or any other term
                                         of this Agreement.

 

		8.5	The
                                         Vendors acknowledge that the Purchaser has entered into this Agreement in reliance upon
                                         the Vendors’ Warranties. The Vendors shall have no liability in respect of the
                                         Vendors’ Warranties to the extent that the facts, matter or circumstance giving
                                         rise to the claim are disclosed to the Purchaser in writing prior to the date of signing
                                         of this Agreement.

 

		8.6	The
                                         Vendors undertake to notify the Purchaser in writing promptly if either of the Vendors
                                         becomes aware of any circumstance arising after the date of this Agreement which would
                                         cause any Vendors’ Warranty (if the Vendors’ Warranties were repeated with
                                         reference to the facts and circumstances then existing) to become untrue or inaccurate
                                         or misleading in any respect which is material to the financial or trading position of
                                         the Target Company.

 

		9.	PURCHASER
                                         WARRANTIES

 

		9.1	The
                                         Purchaser represents, warrants and undertakes to and with the Vendor that as at the date
                                         of this Agreement:

 

		9.1.1	it
                                         is a corporation duly organised and validly existing in the state of Florida under the
                                         laws of the United States of America, and each of its subsidiaries and associated companies
                                         is duly organised and validly existing under the respective laws in which they have been
                                         incorporated, and the Purchaser and its subsidiaries and associated companies are not
                                         presently in liquidation or under judicial management;

 

		9.1.2	subject
                                         to the approval of its Board of Directors, it has the full power and authority to enter
                                         into, exercise its rights and perform and comply with its obligations under this Agreement
                                         and the same constitutes valid and binding obligations of the Purchaser in accordance
                                         with its terms;

 

     

    Page  16 of 34

    

 

		9.1.3	all
                                         actions, conditions and things required to be taken, fulfilled and done (including without
                                         limitation the obtaining of any necessary approvals, consents, licence, permits or the
                                         making of any filing or registration) in order to enable it lawfully to enter into, exercise
                                         its rights and perform and comply with its obligations under this Agreement and to ensure
                                         that those obligations are legally binding and enforceable, will, as far as the same
                                         are required to be taken, fulfilled and done by the Purchaser by Completion, be taken,
                                         fulfilled and done and will be in full force and effect as at Completion;

 

		9.1.4	save
                                         as disclosed to the Vendors in writing or as publicly disclosed pursuant to the relevant
                                         rules, no material litigation, arbitration or other proceeding involving the Purchaser
                                         or any of its subsidiaries is in progress or, to the knowledge of the Purchaser, is threatened and
                                         there are no circumstances known to the Purchaser which are in the Purchaser's reasonable
                                         opinion likely to give rise to any such material litigation, arbitration or proceedings;

 

		9.1.5	no
                                                                                                                                                                                                             petition or application for the winding-up of the Purchaser or its subsidiaries has been presented, and no order has been
                                                                                                                                                                                                             made or effective resolution passed for the winding-up of the Purchaser and/or its subsidiaries, nor, to the knowledge of the
                                                                                                                                                                                                             Purchaser, proceedings instituted nor a meeting called with a view to obtaining any such order or orders or to pass any such
                                                                                                                                                                                                             resolution;

 

		9.1.6	its
                                         entry into, exercise of its rights and/or performance of or compliance with its obligations
                                         under this Agreement (including but not limited to the allotment and issue of the Consideration
                                         Shares and the Earn-Out Consideration Shares) will not, on Completion, breach or violate,
                                         or exceed any power or restriction granted or imposed on it by (i) any law, regulation,
                                         authorisation, directive or order (whether or not having the force of law) to which it
                                         is subject, (ii) its memorandum and articles of association or (iii) infringe the terms
                                         of, or constitute a default under, or cause to be exceeded any limit imposed by or cause
                                         to be terminated or otherwise breached, any agreement instrument, contract, document
                                         or obligation to which it is a Party or which is binding on it or any part of its assets,
                                         undertakings, property or revenues; and

 

		9.1.7	subject
                                         to the fulfilment of the conditions precedent set out in Clause 6.1 (unless otherwise
                                         waived), the Purchaser is entitled on Completion to allot and issue the Consideration
                                         Shares and Earn-Out Consideration Shares in accordance with this Agreement free from
                                         any Encumbrances, third party rights or pre-emptive rights of its shareholders and such
                                         Consideration Shares and Earn-Out Consideration Shares when allotted and issued in accordance
                                         with this Agreement will rank pari passu in all respects with the other issued
                                         shares of the Purchaser and will be fully paid shares which will not be subject to further
                                         calls.

 

     

    Page  17 of 34

    

 

		9.2	The
                                         Purchaser represents and warrants to the Vendor that the Purchaser Warranties are true
                                         in all material respects on the date of this Agreement.

 

		9.3	The
                                         representations, warranties and undertakings given hereunder or pursuant hereto by the
                                         Purchaser shall not in any respect be extinguished or affected by Completion.

 

		9.4	The
                                         Purchaser Warranties shall be deemed to be repeated as at Completion with reference to
                                         the facts and circumstances then existing.

 

		9.5	Each
                                         of the Purchaser Warranties shall be construed as a separate Purchaser Warranty and (save
                                         as expressly provided to the contrary) shall not be limited or restricted by reference
                                         to or inference from the terms of any other Purchaser Warranty or any other term of this
                                         Agreement.

 

		9.6	The
                                         Purchaser acknowledges that the Vendor has entered into this Agreement in reliance upon
                                         the Purchaser Warranties.

 

		9.7	The
                                                                                                                                                                                                      Purchaser undertakes to notify the Vendor in writing promptly if it becomes aware of any circumstance arising after the date
                                                                                                                                                                                                      of this Agreement which would cause any Purchaser Warranty (if the Purchaser Warranties were repeated with reference to the
                                                                                                                                                                                                      facts and circumstances then existing) to become untrue or inaccurate or misleading in any respect which is material to the
                                                                                                                                                                                                      financial or trading position of the Purchaser.

 

		10.	INDEMNITY

 

		10.1	The
                                         Vendors covenant with the Purchaser to indemnify and to keep the Purchaser fully indemnified
                                         from and against any and all costs, charges, actions, proceedings, and claims which the
                                         Purchaser may sustain, incur or suffer at any time by reason of or in connection with
                                         –

 

		10.1.1	any
                                         breach by the Vendors of any term of this Agreement, any Vendors’ Warranty or undertaking
                                         given by the Vendors under this Agreement; and

 

		10.1.2	any
                                         Taxation or claim, fine, penalty, interest or other charges in respect of Taxation.

 

		10.2	Each
                                         of the indemnities in this Agreement constitutes a separate and independent obligation
                                         from the other obligations in this Agreement, shall give rise to a separate and independent
                                         cause of action, shall apply irrespective of any indulgence granted by the Purchaser
                                         and shall continue in full force and effect despite any judgment, order, claim or proof
                                         for a liquidated amount in respect of any sum due under this Agreement or any other judgment
                                         or order.

 

		10.3	The
                                         Vendors undertake to indemnify the Purchaser in respect of any and all liabilities accruing
                                         to the Target Company that could not have been reasonably ascertained by the Purchaser
                                         when conducting all legal, financial, operational, tax and other due diligence into the
                                         affairs of the Target Company.

 

		10.4	All
                                         sums payable by the Vendor pursuant to this clause shall be paid free and clear of all
                                         deductions or withholdings whatsoever, save only as may be required by law.

 

     

    Page  18 of 34

    

 

		11.	RESTRAINT
                                         OF TRADE

 

		11.1	Within
                                         a period of 36 months from the Completion Date, the Vendors hereby covenant with and
                                         undertake to the Purchaser that they will not, directly or indirectly undertake, or through
                                         their agents, nominees and/or representatives, carry on or be engaged in operating or
                                         investing in the business of the supply of audio and video equipment related services
                                         including professional audio/ lighting/ LED projection, camera production & rigging
                                         rental, staging services, technical layout & designs, and on-site project management,
                                         or any other new business that the Target Company ventures into.

 

		12.	NON-SOLICITATION

 

		12.1	Within
                                         a period of 36 months from the Completion Date, the Vendors will not, either on their
                                         own account or for any other person directly or indirectly solicit, interfere with or
                                         endeavour to entice away from the Target Company any person to their knowledge is now
                                         or has been a client and/or customer or employee of or in the habit of dealing with the
                                         Target Company.

 

		13.	TERMINATION

 

		13.1	The
                                         Purchaser shall be entitled by written notice to the Vendors, to immediately terminate
                                         this Agreement at any time before Completion on the occurrence of any of the following
                                         events:

 

		13.1.1	there
                                         shall come to the notice of the Purchaser after the date of this Agreement, any breach
                                         of the Vendors’ Warranties provided that if such breach is capable of remedy, the
                                         Vendors shall have failed to remedy such breach within 30 days (or such other period as parties agree) after
                                         notice shall have been given by the Purchaser to the Vendors to remedy such breach; or

 

		13.1.2	there
                                         shall come to the notice of the Purchaser after the date of this Agreement, any material
                                         breach by the Vendors of their obligations under this Agreement provided that if such
                                         material breach is capable of remedy, the Vendors shall have failed to remedy such material
                                         breach within 30 days (or such other period as Parties agree) after notice shall have
                                         been given by the Purchaser to the Vendors to remedy such material breach.

 

     

    Page  19 of 34

    

 

		13.2	The
                                         Vendors shall be entitled by written notice to the Purchaser, to immediately terminate
                                         this Agreement at any time before Completion on the occurrence of any of the following
                                         events:

 

		13.2.1	there
                                         shall come to the notice of the Vendors after the date of this Agreement, any breach
                                         of the Purchaser Warranties provided that if such breach is capable of remedy, the Purchaser
                                         shall have failed to remedy such breach within 30 days (or such other period as parties
                                         agree) after notice shall have been given by the Vendors to the Purchaser to remedy such
                                         breach; or

 

		13.2.2	there
                                         shall come to the notice of the Vendors after the date of this Agreement, any material
                                         breach by the Purchaser of its obligations under this Agreement provided that if such
                                         material breach is capable of remedy, the Purchaser shall have failed to remedy such
                                         material breach within 30 days (or such other period as Parties agree) after notice shall
                                         have been given by the Vendors to the Purchaser to remedy such material breach.

 

		13.3	The
                                         rights of the Purchaser and the Vendors under Clause 13.1 and Clause 13.2 above
                                         respectively are in addition to (and no in substitution of) all other rights and remedies
                                         available to the Parties at law, in equity, under contract, or otherwise.

 

		14.	COSTS
                                         & EXPENSES

 

		14.1	Unless
                                         otherwise provided in this Agreement, and unless otherwise agreed between the Parties,
                                         each of the Parties shall pay its own legal, professional and other costs and expenses
                                         incurred by it in connection with the negotiation, preparation and execution of this
                                         Agreement and the sale and purchase of the Target Shares.

 

		14.2	In
                                         the event Completion does not take place and this Agreement is terminated due to a default
                                         by a Party, the defaulting Party shall bear all costs and expenses incurred in relation
                                         to the Acquisition.

 

		15.	CONFIDENTIALITY

 

		15.1	The
                                         Parties hereby undertake that they shall keep strictly confidential:

 

		15.1.1	all
                                         information relating to this Agreement;

 

     

    Page  20 of 34

    

 

		15.1.2	all
                                         information of a proprietary nature relating to the operations of the Target Company
                                         (except that the Purchaser's obligation in respect of this shall cease upon Completion);
                                         and

 

		15.1.3	all
                                         information of a proprietary nature relating to the operations of the other Party, which
                                         they shall receive directly or otherwise pursuant to this Agreement save and except for
                                         –

 

		15.1.3.1	any
                                                                                                                                                                                                                information obtained from the other the non-defaulting Party that becomes generally known to the public, other than by reason
                                                                                                                                                                                                                of any wilful or negligent act or omission of the recipient Party or any of its agents, advisers, directors, officers,
                                                                                                                                                                                                                employees or representatives;

 

		15.1.3.2	any
                                         information that is required to be disclosed pursuant to any applicable laws or to any
                                         competent governmental or statutory authority or pursuant to rules or regulations of
                                         any relevant regulatory, administrative or supervisory body (including, without limitation,
                                         any relevant stock exchange or securities council);

 

		15.1.3.3	any
                                         information that is required to be disclosed pursuant to any legal process issued by
                                         any court or tribunal whether in Singapore or elsewhere;

 

		15.1.3.4	any
                                         information disclosed by any of the Parties to its respective employees, advisers, principals,
                                         agents and partners on a need-to-know basis.

 

		15.2	The
                                         Parties agree that no announcement or other disclosure concerning this Agreement, the
                                         sale and purchase of the Target Shares or any ancillary matter shall be made by the Parties
                                         before or after Completion save (a) in a form approved by the other Party; or (b) where
                                         otherwise required to be disclosed pursuant to any applicable requirement issued by any
                                         competent governmental or statutory authority or rules or regulations of any relevant
                                         regulatory, administrative or supervisory body (including, without limitation, any relevant
                                         stock exchange or securities council) and save where such disclosure is necessary for
                                         them to perform their respective obligations under this Agreement.

 

		15.3	Each
                                         and every obligation under this Clause 15 shall be treated as a separate obligation
                                         and shall be severally enforceable as such and in the event of any obligation or obligations
                                         being or becoming unenforceable in whole or in part, such part or parts as are unenforceable
                                         shall be deleted from this Clause 15 and any such deletion shall not affect the
                                         enforceability of all such parts of this Clause 15 as remain not so deleted. The
                                         provisions contained in this Clause 15 shall continue to apply notwithstanding
                                         Completion or the termination of this Agreement for any reason whatsoever.

 

     

    Page  21 of 34

    

 

		16.	GOVERNING
                                         LAW & JURISDICTION

 

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

 

		16.2	Parties
                                         shall use all reasonable efforts to resolve any dispute, including any question regarding
                                         its existence, validity or termination, arising out of or in connection with this Agreement
                                         (Dispute) amicably. In the event that amicable resolution of the Dispute
                                         cannot be reached within 14 days (or such longer period as Parties may agree in writing)
                                         of such Dispute arising, the Dispute shall be referred to and finally resolved by arbitration
                                         in Singapore in accordance with the Arbitration Rules of the Singapore International
                                         Arbitration Centre (SIAC) for the time being in force, which rules are
                                         deemed to be incorporated by reference to this Clause. The tribunal shall consist of
                                         one (1) arbitrator, to be appointed by the President of the Court of Arbitration of SIAC.
                                         The seat of the arbitration shall be Singapore. The language of the arbitration shall
                                         be English.

 

		17.	ASSIGNMENT

 

		17.1	No
                                         Party hereto shall have the right to assign all or any part of its interest in this Agreement
                                         without the prior written consent of the other Party. This Agreement shall be binding
                                         on the Parties and their respective successors and permitted assigns.

 

		18.	ENFORCEABILITY

 

		18.1	If
                                         any one or more of the provisions contained in this Agreement or any part of such provisions
                                         shall be deemed invalid, unlawful or unenforceable in any respect under or in accordance
                                         with applicable law, the validity, legality and enforceability of the remaining provisions
                                         or part thereof contained herein shall not in any way be affected or impaired but this
                                         Agreement shall be construed as if such invalid, unlawful or unenforceable provision
                                         or part thereof had never been contained herein.

 

		19.	NO
                                         WAIVER

 

		19.1	The
                                         failure by any Party at any time to require performance by any other Party of its obligations
                                         under this Agreement or to claim a breach of any term of this Agreement by the other
                                         Party shall not be deemed to be a waiver of any right under this Agreement by the first-mentioned
                                         Party.

 

     

    Page  22 of 34

    

 

		20.	ENTIRE
                                         AGREEMENT

 

		20.1	This
                                         Agreement supersedes any previous agreement (including but not limited to the MOU) and
                                         represents the entire agreement between the Parties in relation to the matters dealt
                                         with herein and no variation hereof shall be effective unless made in writing. Notwithstanding
                                         any terms of this Agreement, the consent of any third party is not required for any variation
                                         (including any release or compromise of any liability under) or termination of this Agreement.

 

		21.	AMENDMENTS

 

		21.1	This
                                         Agreement may be amended only by an instrument in writing signed by all the Parties.

 

		22.	RIGHTS
                                         OF THIRD PARTIES

 

		22.1	The
                                         Contracts (Rights of Third Parties) Act, Chapter 53B of Singapore shall not under any
                                         circumstances apply to this Agreement and any person who is not a party to this Agreement
                                         (whether or not such person shall be named, referred to, or otherwise identified, or
                                         form part of a class of persons so named, referred to or identified in this Agreement)
                                         shall have no right whatsoever under the Contracts (Rights of Third Parties) Act, Chapter
                                         53B to enforce this Agreement or any of its terms.

 

		23.	GENERAL

 

		23.1	The
                                         Vendors shall execute or procure that any third party shall execute all such documents
                                         and/or do or procure the doing of such acts and things as the Purchaser shall after Completion
                                         reasonably require to give effect to this Agreement and any documents entered into pursuant
                                         to it and to give to the Purchaser the full benefit of all the provisions of this Agreement.

 

		23.2	Any
                                         date, time or period mentioned in any provision of this Agreement may be extended by
                                         mutual agreement among the parties hereto but as regards any time, date or period originally
                                         fixed and not extended or any time, date or period so extended as aforesaid, time shall
                                         be of the essence.

 

     

    Page  23 of 34

    

 

THIS
AGREEMENT HAS BEEN ENTERED INTO ON THE DATE FIRST STATED ABOVE.

 

The
Vendors

 

	Signed By, 	 	Witnessed
    By
	 	 	 
	/s/ Rodrigues Gerard Anthony	 	/s/ Aileen Bermudez
	Rodrigues Gerard Anthony	 	 
	 	 	Name:  	Aileen Bermudez

 

	 	 	Designation:  	Administrative Manager

 

	Signed By, 	 	Witnessed
    By
	 	 	 
	/s/ Zuzarte Desmond Gerard	 	/s/ Aileen Bermudez
	Zuzarte Desmond Gerard	 	 
	 	 	Name: 	Aileen Bermudez 

 

	 	 	Designation: 	Administrative Manager 

 

     

    Page  24 of 34

    

  

The
Purchaser

 

for
and on behalf of

 

REBEL
GROUP, INC.

 

	Signed By, 	 	Witnessed
    By
	 	 	 
	/s/ Leong Aan
        Lee Justin	 	/s/ Zhao Lu Ferlynn 
		 	 
	Name: 	Leong Aan Lee Justin	 	Name: 	 Zhao Lu Ferlynn

 

	Designation: 	 Chief Executive Officer	 	Designation: 	Junior Finance Manager 

 

     

    Page  25 of 34

    

 

Schedule
1 – The Vendors

 

	S/No.	 	Name & Particulars	 	 	No.
of shares held in Target Company
	 
	1.	 	Rodrigues Gerard Anthony
 (NRIC No.: S7246780I)
  
 Address:
16A Woo Mon Chew Road, Siglap 

Park, Singapore 455070
	 	 	75,000 (75%)	 
	 	 	 	 	 	 	 
	2.	 	Zuzarte Desmond Gerard
 (NRIC No.: S7045407F)
  
 Address:
718 Bedok Reservoir Road #05-

4616, Singapore 470718
	 	 	25,000 (25%)	 

 

     

    Page  26 of 34

    

 

Schedule
2 – Definitions and Interpretation

 

		1.	In
                                         this Agreement and the Schedules, unless the subject or the context otherwise requires,
                                         the following words and expressions shall have the following meanings:

 

	 	“Acquisition”	means
        the purchase of the Target Shares by the Purchaser from the Vendor upon the terms and conditions of this Agreement;

         

	 	“Audited
    PBT”	means
        audited net profit before tax in accordance with the Financial Reporting Standards of Singapore, presented in S$;

         

	 	“Auditor”	shall
        have the meaning given to it in Clause 4.4.2;

         

	 	“Business
    Day”	means
        a day on which banks are open for business in Singapore other than a Saturday, Sunday or public holiday in Singapore;

         

	 	“Completion”	means
        the completion of the sale and purchase of the Target Shares;

         

	 	“Completion
    Date”	means
        the date falling five (5) Business Days following satisfaction (or waiver as the case may be) of all the conditions in
        Clause 6.1;

         

	 	“Consideration
    Shares”	means
        the new ordinary shares in the capital of the Purchaser to be issued by the Purchaser to the Vendor pursuant to Clause
        2.3 of this Agreement;

         

	 	“Costs”	means
        liabilities, losses, damages, costs (including legal costs on a full indemnity basis) and expenses (including taxation),
        in each case of any nature whatsoever;

         

	 	“Dispute”	shall
        have the meaning given to it in Clause 16;

         

	 	“Earn-Out
    Consideration Shares”	means
                                                                                                                               the new ordinary shares in the capital of the Purchaser to be issued by the Purchaser pursuant to Clause 2.5 and Clause 2.6
                                                                                                                               of this Agreement;

         

	 	“Earn-Out
        Period”

         
	shall
        have the meaning given to it in Clause 4.1;

         

 

     

    Page  27 of 34

    

 

	 	“Encumbrance”	includes
        any mortgage, assignment, debenture, lien, hypothecation, charge, pledge, adverse claim, rent-charge, title retention,
        claim, equity, option, pre-emption right (other than those which appear in a company's articles of association or constitutive
        document), right to acquire, security agreement and security interest or other right of whatever nature and any kind or
        an agreement, arrangement or obligation to create any of the foregoing and “Encumbrances” shall be
        construed accordingly;

         

	 	“Escrow
    Agent”	means
        the escrow agent to be appointed by the Parties in connection with the escrow arrangements involving the Earn-Out Consideration;

         

	 	“Moratorium
        Undertakings”

         
	shall
        have the meaning given to it in Clause 5;

         

	 	“MOU”	means
        the memorandum of understanding dated 15 July 2019 entered into between the Purchaser and the Vendors.

         

	 	“Purchase
        Consideration”

         
	shall
        have the meaning given to it in Clause 2.2;

         

	 	“Purchaser
    Completion Certificate”	means
                                                                                                                               the certificate substantially in the form set out in Schedule 3, Part B and to be given by the Purchaser to the Vendor on
                                                                                                                               Completion;

         

	 	“Purchaser
    Warranty”	shall
        mean the warranties, representations and undertakings of the Purchaser as set out in Clause 9;

         

	 	“S$
        or Singapore Dollar”

         
	means
        the lawful currency of the Republic of Singapore;

         

	 	“SIAC”	shall
        have the meaning given to it in Clause 16.2;

         

	 	“Target
        Company”

         
	shall
        have the meaning given to it in recital (A);

         

	 	“Target
        Shares”

         
	shall
        have the meaning given to it in recital (A);

         

 

     

    Page  28 of 34

    

 

	 	“Taxation
    or Tax”	means
                                                                                                                                       any and all forms of taxation whether direct or indirect and whether levied by reference to income, profits, gains, net
                                                                                                                                       wealth, asset values, turnover, added value or other reference and statutory, governmental, state, federal provincial, local
                                                                                                                                       governmental or municipal charges, impositions, duties, contributions, rates and levies (including social security
                                                                                                                                       contributions and any other payroll taxes), or liabilities of whatever nature whenever and wherever imposed (whether imposed
                                                                                                                                       by way of a withholding or deduction for or on account of tax or otherwise) and in respect of any person and all penalties,
                                                                                                                                       charges, costs and interest relating thereto, and regardless (in each case) whether any such taxation is chargeable directly
                                                                                                                                       or primarily against, or attributable directly or primarily to, the Target Company or any other person and whether or not any
                                                                                                                                       such amount is recoverable from any other person;

         

	 	“Vendors’
    Completion Certificate”	means
the certificate substantially in the form set out in Schedule 3 Part A and to be given by the Vendor to the Purchaser on Completion;

                                                                                                           

	 	“Vendors’
        Warranties”

         
	means the warranties, representations and undertakings of the Vendor as set out in Clause 8;

                                                                                 

 

		2.	In
                                         this Agreement, unless the context requires otherwise:

 

		(a)	headings
                                         are inserted for convenience only and shall not affect the construction of this Agreement;

 

		(b)	words
                                         importing the singular number shall include the plural and vice versa;

 

		(c)	words
                                         importing the masculine gender shall include the feminine and neuter genders and vice
                                         versa;

 

		(d)	references
                                         to times of the day are to local time in the Republic of Singapore unless otherwise stated;

 

		(e)	references
                                         to any agreement or document shall include such agreement or document as amended, varied,
                                         novated, supplemented or replaced from time to time;

 

		(f)	references
                                         to any legal term used in any applicable jurisdiction (other than the Republic of Singapore)
                                         for any action, remedy, method of judicial proceeding, legal document, legal status,
                                         court, official or any other legal concept shall be deemed to include the legal concept
                                         which most nearly approximates in the Republic of Singapore to that legal term;

 

     

    Page  29 of 34

    

 

		(g)	references
                                         to persons shall include individuals, bodies corporate (wherever incorporated), unincorporated
                                         associations and partnerships;

 

		(h)	references
                                         in this Agreement to Clauses/Recitals/Schedules are references to the clauses of, recitals
                                         to and schedules to, this Agreement;

 

		(i)	any
                                         reference to a document in the agreed form is to the form of the relevant document agreed
                                         between the Parties and for the purpose of identification initialled by each of them
                                         or on their behalf (in each case with such amendments as may be agreed by or on behalf
                                         of the Parties; and

 

		(j)	any
                                         reference to an enactment or statutory provision is a reference to it as it may have
                                         been, or may from time to time be modified, consolidated or re-enacted.

 

     

    Page  30 of 34

    

 

Schedule
3 – Completion Certificates

 

Part
A

 

Vendors’
Completion Certificate

 

[Date]

 

		To:	Rebel
Group, Inc.

7500A
Beach Road

#12-313,
The Plaza

Singapore
199591

 

Dear
Sirs,

 

COMPLETION
CERTIFICATE REFERRED TO IN CLAUSE 6.2.8 OF THE SALE AND PURCHASE AGREEMENT DATED ______________ ENTERED INTO BETWEEN: 

 

		(1)	RODRIGUES
GERARD ANTHONY;

 

		(2)	ZUZARTE
DESMOND GERARD; (THE “VENDORS”)

 

AND

 

		(3)	REBEL
GROUP, INC.

(THE
“AGREEMENT”)

 

		1.	We
                                         refer to the Agreement. The terms defined and the references construed in the Agreement
                                         have the same meaning and construction in this certificate.

 

		2.	We
                                         confirm that, since the date of the Agreement:

 

		a.	there
                                         has not occurred any breach of or event or the discovery of any fact rendering untrue
                                         or incorrect any of our representations, warranties or undertakings contained in the
                                         Agreement as if the same were repeated on and as of the date hereof;

 

		b.	there
                                         has not occurred any material breach by us of any of our respective obligations under
                                         the Agreement.

 

     

    Page  31 of 34

    

 

		3.	Your
                                         rights and benefits under this certificate are in addition to and are not in lieu of
                                         your rights and benefits under the Agreement.

 

Yours
faithfully,

 

	 

         

        _____________________________

        RODRIGUES
        GERARD ANTHONY

         
	Witnessed
        By:

         

        ______________________________

         

        Name:
        ________________________

         

        Designation:
___________________

         

	 

         

        ____________________________
        

        ZUZARTE
        DESMOND GERARD

         
	Witnessed
        By:

         

        ______________________________

         

        Name:
        ________________________

         

        Designation:
___________________

 

     

    Page  32 of 34

    

 

Part
B

 

Purchaser
Completion Certificate

 

[Date]

 

To:

 

		(1)	RODRIGUES
GERARD ANTHONY

 

16A
Woo Mon Chew Road

Siglap
Park

Singapore
455070

 

		(2)	ZUZARTE
DESMOND GERARD

 

718
Bedok Reservoir Road

#05-4616

Singapore
470718

 

Dear
Sirs,

 

COMPLETION
CERTIFICATE REFERRED TO IN CLAUSE 6.4.3 OF THE SALE AND PURCHASE AGREEMENT DATED ______________ ENTERED INTO BETWEEN: 

 

		(1)	RODRIGUES
GERARD ANTHONY;

 

		(2)	ZUZARTE
DESMOND GERARD; (THE “VENDORS”)

 

AND

 

		(3)	REBEL
GROUP, INC.

(THE
“AGREEMENT”)

 

		1.	We
                                         refer to the Agreement. The terms defined and the references construed in the Agreement
                                         have the same meaning and construction in this certificate.

 

     

    Page  33 of 34

    

 

		2.	We
                                         confirm that, since the date of the Agreement:

 

		a.	there
                                         has not occurred any breach of or event or the discovery of any fact rendering untrue
                                         or incorrect any of our representations, warranties or undertakings contained in the
                                         Agreement as if the same were repeated on and as of the date hereof;

 

		b.	there
                                         has not occurred any material breach by us of any of our respective obligations under
                                         the Agreement.

 

		3.	Your
                                         rights and benefits under this certificate are in addition to and are not in lieu of
                                         your rights and benefits under the Agreement.

 

Yours
faithfully,

 

	For
        and on behalf of

        REBEL
        GROUP, INC. 

         

        _______________________________

         

        Name:
        _________________________

         

        Designation:
        ____________________
	Witnessed
        By:

         

         

        ______________________________

         

        Name:
        ________________________

         

        Designation:
___________________

 

 

Page
34 of 34Exhibit

Exhibit 10.1

Form of Award Notice for Return on Capital Performance Shares under 
the National Fuel Gas Company 2010 Equity Compensation Plan

Name
Address

Dear _________:

I am pleased to inform you that on [date of grant] the Compensation Committee (“Committee”) of the Board of Directors of National Fuel Gas Company (the “Company”) granted to you (the “Grantee” or “you”)  ____ Performance Shares under the National Fuel Gas Company 2010 Equity Compensation Plan (the “Plan”), subject to a Performance Goal related to return on capital, as set forth in this Award Notice.  Performance Shares are an award, pursuant to Section 9 of the Plan, constituting units denominated in Common Stock, the number of which such units may be adjusted over a Performance Cycle based upon the extent to which Performance Goals have been satisfied.  
The Performance Shares covered by this letter agreement (“Award Notice”) may be referred to in this Award Notice as “Your ROC Performance Shares.”  The number of Performance Shares set forth above is referred to in this Award Notice as the “Target Opportunity.”  The Plan and the Committee’s Administrative Rules (“Rules”) govern the operation of the Plan, as well as the terms and conditions of Your ROC Performance Shares, and are incorporated herein by reference.  Capitalized terms not otherwise defined herein shall have the meanings set forth for such terms in the Plan or the Rules.
1.    Performance Cycle and Performance Goal
The vesting of Your ROC Performance Shares is subject to a Performance Goal as set forth in this Award Notice.  The Performance Cycle for Your ROC Performance Shares is [start date] through [end date].  Except as otherwise specified in the Plan or determined by the Committee, and to the extent the Performance Goal has been achieved, Your ROC Performance Shares shall vest on such date as the Committee determines the extent to which the Performance Goal has been achieved.  Such determination date shall be not later than [date].
The Performance Goal upon which any vesting and payment of Your ROC Performance Shares is conditioned shall be the Total Return on Capital (as defined below) of the Company over the Performance Cycle relative to the Total Return on Capital of other companies in the Report Group (as defined below) for the Performance Cycle.  Total Return on Capital for the Company or any member of the Report Group shall mean the average of the returns on capital for each twelve month period corresponding to each of the Company’s fiscal years during the 

Performance Cycle, based on the data reported for that company in the Bloomberg online database (or, if the Bloomberg database ceases to be available, such alternative publication or service as the Compensation Committee shall designate) for the following group of companies for which data is available for the entire Performance Cycle (the “Report Group”):  
Atmos Energy Corporation
Cabot Oil & Gas Corporation
CNX Resources Corporation
EQT Corporation
MDU Resources Group Inc.
National Fuel Gas Company
New Jersey Resources Corporation
Range Resources Corporation
SM Energy Company
Southwest Gas Holdings, Inc.
Southwestern Energy Company
Spire Inc.
UGI Corporation 
Whiting Petroleum Corporation
Notwithstanding the foregoing, in comparing the Company’s performance to that of the Report Group, the Committee shall adjust the Company’s Total Return on Capital to include the effect of discontinued operations.  To the extent reasonably correctible, the Committee shall correct the reported data for a known error in the reporting of the results of the Company. Furthermore, to the extent a company in the Report Group ceases to exist due to bankruptcy, delisting, liquidation or any other reason as determined and approved by the Committee, that company shall not be removed from the Report Group and shall be considered to have performed at a level ranking it at the bottom of the Report Group. 
The term “Percentile Ranking” as used in this Award Notice in reference to Total Return on Capital means the percentage determined by dividing:
		
	(A)
	the remainder of the Company’s rank within the Report Group for the Performance Cycle (measured lowest to highest) based on its Total Return on Capital for the Performance Cycle, minus one (1), 

by 
		
	(B)
	the number of companies (excluding the Company) in the Report Group for that Performance Cycle.

For purposes of determining the Company’s rank within the Report Group, if the Company’s Total Return on Capital for a Performance Cycle equals that of another company in the Report Group, the Company shall be ranked ahead of such other company.
Your ROC Performance Shares shall vest and payment shall be made on Your ROC Performance Shares to the extent the Company achieves the Percentile Ranking detailed below, 

provided that Your ROC Performance Shares have not previously been forfeited in accordance with applicable terms and conditions. 
	
		
	Company’s
Percentile Ranking
	Percentage of
Target Opportunity Paid

	 
	 

	< 45th
	0%

	45th
	50%

	60th
	100%

	75th
	150%

	100th
	200%

Notwithstanding the foregoing, if the Company’s Total Return on Capital is negative (less than 0.0), the percentage of Target Opportunity paid shall be capped at 100%.  For performance between two established performance levels, the percentage of Target Opportunity paid will be determined by mathematical interpolation.  
Any and all of Your ROC Performance Shares representing the percentage of the Target Opportunity not required to be paid shall not vest, and shall be automatically forfeited on the date the Compensation Committee makes its determination as to the extent to which the Performance Goal has been achieved, but no later than [date], if not previously forfeited in accordance with the terms and conditions applicable to such Performance Shares.
2.    Settlement
At the expiration of the Performance Cycle, the Committee shall certify in writing the number of Performance Shares earned and vested on the basis of performance in relation to the Performance Goal.  The Committee shall determine whether earned Performance Shares are to be distributed in the form of cash, shares of Common Stock or in a combination thereof, with the value or number of shares payable to be determined based on the Fair Market Value of the Common Stock on the date of the Committee’s certification.  Any fractional share otherwise payable in settlement of Your ROC Performance Shares shall be paid in cash. 
3.    Restrictions on Transferability
Your ROC Performance Shares may not be sold, assigned, transferred or pledged during the Performance Cycle, except that the Committee may permit (on such terms and conditions as it shall establish) some or all of Your ROC Performance Shares to be transferred during the Performance Cycle to a Permitted Transferee in accordance with Section 14(a) of the Plan.
4.    Rights as a Shareholder
You shall not have any right, in respect of Your ROC Performance Shares, to vote on any matter submitted to the Company’s stockholders until such time, if any, as the shares of Common Stock attributable to Your ROC Performance Shares have been issued.  Dividend Equivalents shall not be paid or payable on Your ROC Performance Shares before they become earned and vested.

5.    Termination of Employment
In the event your employment with the Company or its Subsidiaries terminates due to your death, Disability or Retirement, or due to the Company divestiture of one or more Subsidiaries or other business segments, divisions or operations in a transaction that does not otherwise qualify as a Change in Control, then the number of Your ROC Performance Shares that otherwise would have vested after the end of the Performance Cycle shall be pro-rated to reflect the time period from the commencement of the Performance Cycle through the date of the termination of your service to the Company or its Subsidiaries, as described in Sections 11(a)(i) and 11(c)(i), respectively, of the Plan, and any of Your ROC Performance Shares that do not vest shall automatically be forfeited.  In the event your employment with the Company or its Subsidiaries terminates for any other reason, the provisions of the Plan shall control.
6.    Change in Control
Subject to the terms of the Plan and the Rules, in the event of a Change in Control of the Company, each of Your ROC Performance Shares then outstanding shall be deemed earned at the target level of performance for such Award.  In addition, the Committee may direct that each of Your ROC Performance Shares be settled in cash with its value determined based on the value received by the shareholders in any transaction that constitutes a Change in Control.  The Plan also allows the Committee to reasonably determine in good faith, before a Change in Control, that this Award shall be honored or assumed, or new rights substituted therefore, by your employer or the parent or affiliate of your employer, provided that any such honored, assumed or substituted award must satisfy the requirements set forth in Section 12(b) of the Plan, including “substantially equivalent economic value.”  
7.    Adjustments in Common Stock
In the event of an Adjustment Event, including any stock dividend, stock split, merger, consolidation, reorganization, recapitalization or other similar event affecting the Common Stock, the Committee shall equitably adjust, in its discretion, the number of shares subject to this Award Notice.  To the extent the Committee deems equitable and appropriate and subject to any required action by shareholders of the Company or of any successor in interest to the Company or any direct or indirect parent corporation of the Company or any such successor, in any Adjustment Event that is a merger, consolidation, reorganization, liquidation, dissolution or similar transaction, Your ROC Performance Shares shall be deemed to pertain to the securities and other property, including cash, to which a holder of the number of shares of Common Stock covered by this Award Notice would have been entitled to receive in connection with such Adjustment Event.  Any Committee determination pursuant to this Section 7 shall be final, binding and conclusive.
8.    Authority of Committee 
The Committee has the authority to interpret the Plan and all Performance Shares granted thereunder, to establish rules and regulations relating to the Plan and to make all other determinations it believes necessary or advisable for the administration of the Plan.  The scope of 

the Committee’s authority is more fully described in Section 3 of the Plan.  All determinations and actions of the Committee are final, conclusive and binding on you. 
9.    Miscellaneous
(a)    This Award Notice shall be binding upon and inure to the benefit of the Company (and its successors and assigns) and you (and your heirs, legal representatives and estate) and shall be governed by the laws of the State of New Jersey, and any applicable laws of the United States.  The Performance Share award under the Plan does not alter, amend or otherwise affect your employment status with the Company or its subsidiaries.  No contract or right of employment shall be implied by this Award Notice.
(b)    The Committee may at any time unilaterally amend any unpaid Performance Shares award, including Awards earned but not yet paid, to the extent it deems appropriate, provided, however, that subject to Section 5(d) of the Plan, any such amendment which is adverse to the Grantee shall require the Grantee’s consent unless the Committee determines that such amendment or modification is necessary or advisable to comply with applicable law as a result of changes in law or regulation or to avoid the imposition of an additional tax, interest or penalty under Section 409A of the Internal Revenue Code of 1986, as amended.
(c)    If Your ROC Performance Shares are assumed or new Performance Shares are substituted therefor in any corporate reorganization (including, but not limited to, any transaction of the type referred to in Section 424(a) of the Internal Revenue Code of 1986, as amended), employment by such assuming or substituting company or by a parent company or a subsidiary thereof shall be considered for all purposes of this Award Notice to be employment by the Company.
(d)    In consideration of the Grantee’s privilege to participate in the Plan, the Grantee agrees (i) not to disclose any trade secrets of, or other confidential/restricted information of the Company to any unauthorized party, (ii) not to make any unauthorized use of such trade secrets or confidential or restricted information during his or her employment with the Company or its Subsidiaries or after such employment is terminated, and (iii) not to solicit any then current employees of the Company or any other subsidiaries of the Company to join the Grantee at his or her new place of employment after his or her employment with the Company or its Subsidiaries is terminated. Pursuant to 18 U.S.C. § 1833(b), an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (1) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Additionally, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, if the individual: (1) files any document containing the trade secret under seal; and (2) does not disclose the trade secret, except pursuant to court order.

(e)    This Award Notice, together with the Plan and the Rules, constitutes the entire agreement between the parties with respect to the subject matter hereof.  You hereby acknowledge that you have been provided with a copy of the Plan and the Rules, and understand the terms and conditions of these documents and of this Award Notice.  
(f)    In the event of the invalidity of any part or provision of this Award Notice, such invalidity shall not affect the enforceability of any other part or provision hereof.
10.    Tax Withholding
The Company will be entitled to deduct from any payment under this Award Notice, regardless of the form of such payment, the amount of all applicable income and employment taxes required by law to be withheld with respect to such payment or may require you to pay to it such tax prior to and as a condition of the making of such payment.  Tax withholdings will be in accordance with the Rules. 
11.    Securities Law Requirements
The Company will not be required to issue shares in settlement of Your ROC Performance Shares unless and until (a) such shares have been duly listed upon each stock exchange on which the Company’s Common Stock is then registered and (b) a registration statement under the Securities Act of 1933 with respect to such shares is then effective.  The Board may require you to furnish to the Company, prior to the issuance of any shares of Common Stock in connection with the settlement of Your ROC Performance Shares, an agreement, in such form as the Board may from time to time deem appropriate, in which you represent that the shares you acquired upon such settlement are being acquired for investment and not with a view to the sale or distribution thereof.
12.    Performance Shares Subject to Plan and Rules
Your ROC Performance Shares shall be subject to all the terms and provisions of the Plan, the Rules and this Award Notice, and you shall abide by and be bound by such terms and provisions and all rules, regulations and determinations of the Board or the Committee now or hereafter made in its discretion in connection with the administration of the Plan.  
13.    American Jobs Creation Act
In addition to amendments permitted by Section 9(b) above, the Company may make amendments to Your ROC Performance Shares, without your consent, in order to ensure compliance with the American Jobs Creation Act of 2004.  And, further, amendments may be made to the Plan to ensure such compliance, which amendments may impact Your ROC Performance Shares.

If the foregoing is acceptable to you, kindly acknowledge your acceptance by clicking the "Accept" button below.  By clicking the "Accept" button, you acknowledge that you have read the terms and conditions of the grant, and agree to be bound by those terms and conditions. 
Very truly yours,
	
			
	NATIONAL FUEL GAS COMPANY
	 

	 
	 
	 

	By:
	 
	 

	 
	[Name]
	 

	 
	[Title]

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