GLEE TREES PTE. LTD.

Company Registration No: 201617907E

(Incorporated in the Republic of Singapore)

STOCK OPTIONS AGREEMENT

This options agreement (the “Agreement”) is made on _________ day of ________________ 2016.

BETWEEN

______________________________ (NRIC____________________) of

________________________________________________________________________________
(the “Option Holder”);

and

GLEE TREES PTE. LTD. (the “Company”).

WHEREAS:
The Option Holder has the option to purchase the number of ordinary shares (the “Shares”) of the
Company’s as set forth below, subject to the terms and conditions of this Agreement.

1. DEFINITIONS

1.1. "Company" means Glee Trees Pte. Ltd. (UEN No. 201617907E ), a company incorporated in
Singapore with its registered office at Block 652 Senja Link #05-16, Singapore 670652.

1.2. “Option” means the right granted pursuant to Clause 2, which reference shall include any
tranche thereof.

1.3. “Vesting Start Date” means one year from the date of this Agreement.

1.4. “Service Provider” means being an employee or director or Adviser, freelance consultant to the
Company.

1.7. “S$” means Singapore Dollars, the legal currency in Singapore.

1.8. “Strike Price” mean the price of the Company’s shares as follows: first 300 ordinary shares at
$0.01 per share and subsequent ordinary shares at S$3.33 per ordinary share.

1.14. “Board” means the Company’s board of directors.

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1.15. “Exercise Note” means a duly signed letter by Option Holder informing the Company of his or
her intention to exercise the Option.

1.16. “Exercise Price” the total amount to be paid for the number of Shares for which the Option is
being exercised

1.17. “Shareholders Agreement” means the Company’s shareholders agreement.

1.18. "this Agreement", "hereto", "herein", "hereby", "hereunder", "hereof", and similar
expressions refer to this Agreement and not to any particular section, subsection, paragraph, or
other portion of this agreement.

2. Vesting Schedule

The Shares subject to this Option shall vest according to the following schedule:
- Twenty-five percent (25%) of the granted Shares subject to the Option (rounded down to
the next whole number of shares) shall vest on the Vesting Start Date; and
- 1/24 th of the granted Shares subject to the Option shall vest monthly thereafter so that one
hundred percent (100%) of the Shares subject to the Option are vested on the second
anniversary of the Vesting Start Date, subject to the Option Holder remaining as Service
Provider through each such vesting date (unless otherwise determined by the Board).

3. GRANT OF OPTION

3.1. In consideration of the sum of S$1 from the Option Holder, receipt of which is acknowledged by
the Company, the Company grants to the Option Holder an option to subscribe for the Option
Shares at the Strike Price.

3.2. If the Option Holder is a freelance contractor of the Company, the schedule for eligible Option
Shares is as set out below:
Performance grade at the preceding % of total issued common shares of the
appraisal Company at the date of this agreement.
A 0.20%
B 0.15%
C 0.125%
D 0.10%
E 0.05%

4. EXERCISE OF OPTION

4.1. Right to exercise

4.1.1. This Option shall be exercisable cumulatively according to the vesting schedule set out
in this Agreement. Shares subject to this Option shall vest based on Option Holder’s
continued status as a Service Provider, unless otherwise determined by the Board.

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 4.1.2. This Option may not be exercised for a fraction of a Share.

4.1.3. In the event of Option Holder’s death or disability that prevents Option Holder from
continuing as a Service Provider, the exercisability of this Option will be determined
according to the clauses stated in this Agreement.

4.1.4. The Option shall immediately lapse without any claim by the Option Holder against the
Company and become null, void and of no effect and shall not be capable of exercise:
4.1.4.1. on the fourth anniversary of the Vesting Start Date; or
4.1.4.2. if a resolution is passed or an order is made by the court for the winding up
of the Company on the basis of insolvency.

4.2. Method of Exercise.

4.2.1. This Option shall be exercisable by written notice to the Company in the form of an
exercise note (the “Exercise Note”).
4.2.2. The Exercise Notice shall state the number of Shares for which the Option is being
exercised, and such other representations and agreements with respect to such Shares.
4.2.3. The Exercise Notice shall be accompanied by payment of the Exercise Price, including
payment of any applicable administrative fees payable to government authorities. This
payment shall be made in cash or cheque or electronic bank transfer to the Company.

4.3. Termination of Relationship.

4.3.1. If Option Holder ceases to be a Service Provider (other than by reason of Option Holder’s
death or serious disability), the Company has the right to purchase the Option Holder’s vested
Shares to the extent the Option was vested on the date on which Option Holder ceases to be a
Service Provider.
4.3.2. To the extent that the Option is not vested on the date on which Option Holder ceases to be a
Service Provider, or if Option Holder does not exercise this Option within the time specified herein,
the Option shall terminate.

4.4. Disability of Option Holder

4.4.1. If Option Holder ceases to be a Service Provider as a result of his or her disability, Option
Holder may exercise the Option to the extent the Option was vested at the date on which Option
Holder ceases to be a Service Provider, but only within twelve (12) months from such date (and in
no event later than the fourth anniversary of the Vesting Start Date).
4.4.2. To the extent that the Option is not vested at the date on which Option Holder ceases to be a
Service Provider, or if Option Holder does not exercise such Option within the time specified herein,
the Option shall terminate.

4.5. Death of Option Holder

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4.5.1. If Option Holder ceases to be a Service Provider as a result of the death of Option Holder, the
vested portion of the Option may be exercised at any time within twelve (12) months following the
date of death (and in no event later than the fourth anniversary of the Vesting Start Date) by Option
Holder’s estate or by a person who acquires the right to exercise the Option by bequest or
inheritance.
4.5.2. To the extent that the Option is not vested on the date of death, or if the Option is not
exercised within the time specified herein, the Option shall terminate.

4.6. Non-Transferability of Option.

This Option may not be transferred in any manner except by will or by the laws of descent or
distribution. It may be exercised during the lifetime of Option Holder only by Option Holder. The
terms of this Option shall be binding upon the executors, administrators, heirs, successors and
assigns of the Option Holder.

4.7. Conditions for Option to be deemed as vested

Notwithstanding any other provision of this Agreement, the Option shall be deemed to have vested
upon the occurrence of any of the following events:
4.3.1. an offer being made to the members of the Company to acquire all or substantially all
of their shares in the Company;
4.3.2 approval in principle being obtained for the listing and quotation of the shares of the
Company on any recognised stock exchange;
4.3.3 a resolution being passed for a members’ voluntary winding up of the Company
(other than on the basis of its insolvency); and
4.3.4. an order being made for the compromise or arrangement of the Company for the
purposes of or in connection with a scheme for the reconstruction of the Company or its
amalgamation with another company or other companies.

The Company shall forthwith upon the occurrence of such event notify the Option Holder in writing
of such occurrence. The Option Holder shall upon receipt of such notification be entitled to exercise
the Option within 60 days or by the fourth anniversary of the Vesting Start Date, whichever is
earlier. In such an event the Option Period shall be deemed to have been brought forward and
shortened accordingly.

5. COMPLETION
5.1. Within 5 working days of receipt of an Exercise Note and the aggregate Exercise Price, the
Company shall allot and issue the Option Shares in respect of which the Option has been validly
exercised to the Option Holder.

5.2. The Option Shares shall rank pari passu in all respects with all the ordinary shares of the
Company then in issue save for any rights determined by reference to a date on or before the date
of allotment.

6. VARIATION OF SHARE CAPITAL

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6.1. If, while any Option is outstanding, the Company shall effect any sub-division or consolidation
of its share capital, any capitalisation issue, reduction of share capital or repurchase of its own
Shares, but not otherwise, then the number of Option Shares which remain the subject of the
Option or the subscription price for each Option Share shall be adjusted accordingly in such manner:
6.1.1 as shall place the Option Holder whose Option is still outstanding in the same
position as regards the percentage of the equity share capital of the Company which such
Option Holder shall be entitled to subscribe for pursuant to any exercise of Option; and

6.1.2 the aggregate cost of such subscription as shall have existed at the date hereof; and
in the case of any dispute as to the manner of such adjustment an independent accounting
firm (acting as experts and not arbitrators) shall determine the same at the request of either
party and at their joint expense.

6.2. Notwithstanding Clause 6.1, the Company shall not be required to take any steps in relation to
its share capital as aforesaid which would have the effect of reducing the subscription price (as so
adjusted) payable per Option Share below par. No fraction of a Share will be issued on any exercise
of an Option.

7. GENERAL

7.1. The Company shall, for so long as the Option remains exercisable, procure that there is
maintained;
7.1.1 sufficient authorised but unissued share capital;
7.1.2 and other authorities and powers of the directors of the Company, and take all other
requisite action to enable any (i) exercise of such Option and the rights conferred by Clause 6
and (ii) the prompt issue of shares pursuant thereto.
7.2. The Option Holder will be a signee of the Shareholders Agreement and will be bound by the
Shareholders Agreement.

8. Mediation AND ARBITRATION

In the event of any dispute arising out of this Agreement, senior representatives from Company and
Option Holder shall first attempt good faith negotiation. In the event that no resolution can be
reached within thirty (30) days from the date of dispute notice, it shall submitted for mediation at
the Singapore Mediation Centre (SMC) in accordance with SMC’s Mediation Procedure in force for
the time being.
Either/any party may submit a request to mediate to SMC upon which the other party will be bound
to participate in the mediation within 45 days thereof. Every party to the mediation must be
represented by senior executive personnel, of at least the seniority of a Head of Department or its
equivalent, with authority to negotiate and settle the dispute. Unless otherwise agreed by the

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parties, the Mediator(s) will be appointed by SMC. The mediation will take place in Singapore in the
English language and the parties agree to be bound by any settlement agreement reached.
If both parties cannot come to a settlement at mediation, 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 for the time being in force.

9. GOVERNING LAW
This Agreement shall be governed by and construed according to the laws of Singapore and the
parties submit to the non-exclusive jurisdiction of the courts of Singapore.

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SIGNED, SEALED, AND DELIVERED

In the presence of:

(1) _______________________________(signature)

Name (Option Holder): _________________________________

Witnessed by:

_______________________________ (signature)

Name (of witness): _________________________________

(2) _______________________________ (signature)

Name of Director: _________________________________

For and on behalf of Glee Trees Pte. Ltd.

Witnessed by:

_______________________________ (signature)

Name (of witness): _________________________________

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