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Fundamentals of Business Law, 3rd ed., London: Prentice Hall
International. Inc., 1982. p. 19.

- Ferderick G. Kempin, Historical Introduction to Anglo-Americ~rn

Law in a Nutshell, St. Paul, Minn.: West Pubishing Co., 1990, p. 256 (Y)
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. ~w.&11 iY,I _,..JI <"""!-! u ~t... _,i Case Law .. Michael H. Davies, Business Law in Egvpt, Kluwer Law and (Y)
Taxation Publishers, Netherlands, 1984. p. 181

- Ibid, p. 27 (I) - Ibid, p. 24

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- Robert N. Corley and William J. Robert, Dillavou Howard's Principles (') _,i lY.-lil..-UJI L>:! ul.i\.i;'jl ~ j~ )I • -1.li ~ (Y) oJWI 0"' (Y) •.;iill ~J
of Business Law, 9th ed., Englewood Cliffs, N.J.: Prentice-Hall, Inc., •• .)'-AA ~ rWI i"IJ:.lll t" ..:.....:.:.)...U ._;,.. ~.;4-:JI ..:...IJWI Ji ~.;4-:JI wy.ll .lei}
1971, p. 15
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- Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, (')
West's Business Law: Texts & Cases, 2ed, St. Paul, Minnesota: West
Publishing Company, 1983, p. 8
- Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jenrz, op. (')
cit., p. 4 - Ferderick G. Kempin, op. cit. 258-259

- Ferderick G. Kempin , op. cit. 259-260 - Robert N. Corley and William J. Robert, op. cit., p. 341
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~1 ._...i I~ .ii uLS ~ ..:..~~! ~ l'w1 0_,;w1 tj,h; .)c ~..>"YI rl..h.JI - Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. (')
..:;. Superme Court ~I U:....11 !+ip..:.i ..;JI .)JYI ris,..';1 ...:.iii.SJ . .l.t...>"'!
..).)C ~ cit., p. 320
_,__.; t"'J . ..:.LSy:JI _,...; .)c. IJh.- )L.tt:. fa t'"'t:ill u.;ill J.;1.l.! ~ J.;_;~I ..:.1t:.1yJ1
- Ferderick G. Kempin , op. cit. 267 (T)
- Robert N. Corley and William J. Robert, op. cit., p. 342 (r)

- Ibid, pp 5-6 (') - Ibid, p. 342

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. _, . ;j_fo Uniform \ '\. i ~'~_,..JI t~I u_,.ili ·_,' \ A'l 1 .i.l....l Instruments Law

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Publications, Inc., 1986, p. 246
- Ibid, p 320
• Robert N. Corley and William J. Robert, op. cit., p. 342
- Ibid, p. 342-343
- Ibid, p. 342
- Ibid, p. 343 - Ibid, pp 342-343
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promoters '.(Sy!JI _,.,..,..,.,: ~ 04 . .(S~I (..)":!--~ 0:!--:,..ll ,y:. ~I.:) ,.fa. ._s:i.ll .r'6..JI _,I , ...,.....G....JI _,.j' .»-:,..JI
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- Black's Law Dictionary, 6th. Ed .. St. Paul, USA: West Publishing Co., 1997, P)
p.1214

-Ronald A. Anderson, Business Law, 11 'h. Ed., Cincinnotes, Ohio: (T)

South-Western Publishing Co., 1980, p. 628.

- Kenneth Smith and Denis Keenan, Company Law, sm. Ed., London: Pitman (f)
Publishing Limited, 1984, p. 1
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. '-.91 y.-Jl _, ..!.I_,.;,JI ..:..4J...c. . _, wl_,.b..JI JS ~J ,· J:A..o tJ~ l"l;ill.company "-:!_;4>cl ~ ..:..1:i =u ' · -
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· -. •· _ ··.. _, . _, ~ • J lAy,t.J ~\S.lt w'i'it ~
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. .:Jk)'I_, w'il....4J'il_, ~yll_,
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....----!! 0 i~ Ji U.1.S lA~\J _,i ~ ~ lA_;~I _,i lAjl~ J.j ..:.il_;Li...l~ 'JJ 7i ·?"
. ~_,_)... y,t:. Ji U.Jfa w;lS 01_,.... ~.)4-J _,i ~)J! ..:..l..i.:.._, JI w_;t. _,I&.:. - Ibid, p. 18

- Ibid. p. 18
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c-=- .,W: •. cs'"WI I -''I
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standard .l,_;....lJ ~ c:il-.i ~le. r..U..::....:., ~I .)J

'-:.J4-=J1 ....:..:::l.t....JI
:$_,.; .)! cjWJI •j.\ ~ ~J' contract forms
..S y........:..J.l ~ .) ~4JI 4-! f' Ji!.:! .lie " •\. ;\.~ ..S y-o.all ..,J.i...ll j_,.i\.ill ._,.i ~I .lie •-(..>--:!
j-o ("") o..iWI ...b~J. (t \A o..lWI) • ..s.li.; ,:_,,.:, J.il.i.....,.; ~i 4}1...1.h} ~ ~
~J' .li...11 rlbi ~i>J ~ .)! .._j..lf.'.iJ' model contracts ~j_,....; ..i_,ic.-1
:9tJI .bJ~I .)ly o_;J~, 4.J~ I.lie ~I .lie jfo. _fl' ~I ..;)-i"~I ..Jylill
. r+>4-~)' WJ ~..).LjJ 1.A.lfa. ~ .._jly.)U
. ..J:!..?.-~ ~ I......>!-" .li...11 jfo. .:,i. '
.• _;4-=J4 ~ j_,..:.l ..Jfo. .). y ...,..u~1 ..>--- iY>J-.i. ..;JI ..ifa..ll ~J - ccntracts of adhesion .:;t.:.j) J_,ic.-Y
:_r...... _;.li ~I 0.feJI ~..:.;I.SJ Li.:cJ l.li.i _,I, I.iii~ ~1.i..11 ~I,:;_,$.: ,).r J_,_..,ill : JAJ ..hi! .alJ .J~ e-1...i ~J' U......OYI y.i4JI .)c 4..i~) ._sj5";1
• ..s.ii.i.11 ·fel' .l~I ,y t_,ll111'J. take it or leave it ~ w:?-:! I... JAJ, ~)'Ji
~y the principle of freedom of contracting ..i!t..ull '-:!...>"'- i..l.;w .,:,... ~
..S~ ~ <1.A\S.,,.\I t~I .» 9_,.i.JI t~I .i;~I ...S.J4-=JI .jyl.ill ~I ~J . (Y"J
. llill ~\j
.
w......J
-
. ~ .) o~l.i.ll 9 _,.i.11 ....:..4Jlij)'I rlbl [#
j-A....,......., exemption clauses 9_,;....JI ,y .W:.?J ..ifa. .)c ..i_,i...JI ..sJW Li~iJ
. ,:;_,;Lill~ 1.,i....a.fa _;JI 9_µ1 j.o..........;.; olic)' .li...11 cfo. ,,s:i.11 .......i.}JI ~

...-J.1 "'---! J~)'I ..s..iY. "-:!..i!t..ull ..::...L.lyll'I ,y 4~ l...ljlll condition .l.~1 ~J

r::i..._r.. ~ w~A ~Lh...11_, .li...11 (:-...i ~ injured party .J~I u_~ll .lk)
..i....i...ll .) 4~1...1 jlll warranty ..Jt........ll fa.l' condition ...b y.:.ll ~ .)c J .• l..iYI
A contract of sale of goods is a contract to rescind the ..L..WI ~ ~ ..si 4-! J:)l;..)'1 ~l'J ~ L;.c.) L..ljlll ~ w.1J
whereby the seller transfers, or agrees to •.J~I J- to claim damages ....:..~p4 ~L.h.? J>...11 ~ .bii W)J contract
transfer, the property in goods to the ~~1 ~ 0_,.;LJ ...---9 warranty .:;t........!1 W:..... •
buyer for a money consideration called ...,.-L ..>' <-' • ..,,,; . he Sale of Goods Act 1893 1 A°' r · ~ .s ~)'I
the price (S. I (I)).

things in ~l.l'.lll ~
2h thmgs in action
o~Y~ oltil..4 w'i _,I.WI J$ goods·~~· ~J l
~I ....:..\.Sl:i....JI
~I c:.;._,. uJ-6. ~ 1.AJ~! i'
~1.l'.lll
lj) ~w.11 ~
Jo... .~Y4 ~_,. Jl_,..YIJ
..;J!J u..il... ~ ~j~
action
~'i I
, .J:-Ul ~~....,....,.>"-!~..;JI J~IJ , C~I .ftl~J , f'*"""y1_,' w~I
choses in \.>--~YI oj.P-1 ..;JI .~YI' y. "...:..)'_,ii.JI"~ W. ..i_,....i.JIJ . ..Jy,.i.JIJ
: .ill.:i
I
.!•>·goods' ~~4u~)'I ~I ..:i_,.;u l+i~ ..;JI~ •j.\J - possession

- R. Lowe, Sale of Goods and Hire-Purchase, 2 ed., England: Benguin (')

Efooks Ltd, 1972, pp 16-17
- Ibid, pp 23-24 (')
 ·' J L_,,.,;Jt
'-' . ~~.Jt
c-=-=- -
).A.&.
· ...r·wt v--
•
I -:II

ov

.possession •j\....+>Jl ~J ownership "--,iSJ.JI ~property ~4 LlA ~'

~ ~ Ji; J- ~ fl
J ~w.,Jl "-:!JWI > j4>Jl ~ ..sill ~4JI j ..!ll.J _....a..,
.(l).,,J.i.~"u.l.o·o
rr+: • _)
.... '\....Q..JI
.>J.lJ(::' · (' ~I.ii
, ..S~ ·''·'I U·IS-' YJ._r>-UA
" 'lSJL..·~ ... IJ .JA'.)
• •J ......Jc..
..
.J,Ul..LA... ~contract of sale ·tf' iic.' ~ j ~L...JI '-':!y::.ll .J.o ~i ~J
J-i,t. ~,';1.uw1 .,.-ii .agreernent to sell ·~4 .ic..,Jl"J sale ·~1· :t..... .:_,;,~
··~- · II .:i.i.r. ..)· ~ J i . L;.,
.. l:.
~ ~LJI .UWI .,.l flJ .a sale·~· .!ill ~J ·..s~I .)! ~4JI j.o ~w.,.11 ~
.ic.J' .i.i..JI ~ UWI o.l.l. ~J ,L...bY:, ~ ,ljc Ji ~I~ L.. ..::..iJ ._.-9 ~I jii
J-0_.>-ilJJ !"-:!Wl 4-- 1.JAi ..j!'.JWI ~ J:i.fall 1.l.l. faJ .agreernent to sell · ~4
._.-9 ~ ..U_Jlhll •}•••~I _;bb... ..J~ • _?I~ u-3) 4.L~ J-.il4 t4 Ji~..)~
_;bL.i..JI ..J~ ·~· ~J ·~ .ic.J' y. Ji.JI,) uafal .fi.lJ •..s~I ~ 'JWI o.lA.
j~I. ._;· L..!..,. ~ L.~l ..s~. ·.. 1. ''YI ~
... 11 ._;y
· ·tj ~J · ·" 'l.Jl c.s--
. (::'. .... "JWI 0.lA.
l~ (::" - ..r
.4..;SWI

~ iic. ..!!LlA ..:i~ .ii .J! .conditional lbJY:... ,i absolute L.w ~1 iic. ..:i~ .iiJ
_y:,_.>-i.ll, __..le.~
..)~ ,._jL_4 WJh ~
.~'J .ii,~
M~
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j~l fl ~~
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.fa 200 tj' __..le. ~-' t...:.4) I
~ l.J) 0-:... ..,?j __.fa .. /i ~ )'
.frustrated
....it..iLlJ ,j~I Y'1! .bJY:,..
fa
A,.jj __..le. ~Ji Ji.JI
I
!
r~I _,\·~.ii Ji.JI 'JWI ..illi ~J ·J~I ~

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,) __..le. '-'51JJ ...s_;4-J J:.,.. .» ~X ._s~I ~ ·I · ·· , · .. · - ....
u. (::'~ tj' iic. rl y) ~........;.,.:;: ~I o.l.l. ,)i J . .bWi __..le. ~ ~~
·~' r.ll.. t"J ~Ji~ ui tfaPJ __..le.~ .J.:.._,....\I
.<l.UI o.l.l. ._s_;t..;.:JI ..;_,.;I.ill
. .!! _,_;,JI J..>.l u-- ~ ~l+-JI ._.-9 Ji:U.i ,) u-3! negotiated ..J _,l.lj ~ ~I 1.l.l. ..;~
(4) oJWI_, ·~_;t..;.:JI ,jl_JJYI' JJl..W .;JI ..;_,.;Ull 0-- (3) oJWI t~_,.. ..s" ~I • .l.l.J
- - .i_fo.?..il ._..s .\WI ~_;JI "-4WI ~_,;Ull .lCl_,il.l ~WI tf' iic. ,:y,,S:, ~ ,j.--o ..s~ ..J\.,4;,'/I -4; o~'JI j:.... r\J lj)J .'~J ~I ~IJ.,.11' 4.c-_,..:.._,..J
.J-+a..lh. ' . ~ law WI ·, •.r 11 t....l.S.a.il • ...< ~.J.l..l contract law Ji.JI ..:i_,;l.i r~I
..J~ ~ ..:.il-i •(collateral) Jl..i..J.l wt...,., 4~1 ._..i lh ~!J ~I ~ ~
.t e commo" r . . . _,~ · ~ · ·
secured ''wli~4 Ufo.JI W)L.I ··'4' ~~I (9) •.:il.-All t_,_.4_,..
.......-1~ )' J i J ;::'; u· i . . - -*""YI ~ ..)'"'• u· i ..ill.J IS'.11 UW.)'u
l.....l:..J • • · ~.;·.1 J ."transactions
. . (.)"'
~! carrier -Uiw ~ ~ J:!_;b LJ"- 4XJI ~ ~ .!ill ~J ~I w.?-- ..r 4~1
..:.1..u..__......'
::-i1 ~I~
J J L..W ..,.--,,I
~.ii u4;'.iji •jp,YI
(7) o.:iWI t ~ · _,.. ~
~~ u~l
'-'-
~
lj!J
•.J ~I
. · · ·" (.),
l..>.!y...>
.documents
·\j, C.S.r-·'·'

of title ·~1
.. lJ I
I
(I) --=7

_ Keneth w. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz,

op. cit., p. 321
- Ibid. p. 15 (I) 1
 ' ~I
..:>J • ..__.,J\ ~
c-=- .· ..s'·~1 ~I -"I

o'\

'--4 \ A'\1'' W ...s~'/I t}L...;..,JI ~ .jyli.l WJ ~I .lit:. ulS.) !'4j j~I ~J

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:..iia..ll~-1

j Jj , ~~
<>j..........?. .jfa. ~) ) , (~ .jJ.l.! Ji t--) 4_,::fu .li....11 .jfa. j jYH
: consideration J,il.iA.ll -r .bfa .jlS. ..,rAWI ~J. wl_).)rl ....:.~,:;... ~ ~), ...s_,i.!. ~fi.J yjfu ......_
.j~) _;......si J~ ~~) w~ \, ,)) 4 J..a;._sill t}L...;..,JI ~.lit:.~
.money JL.. •.J_,.- ._..i Jili.ll i:i.. :;fa.,) ~J • & Jiti.. ..!JU. ,:;~) ~ .l....WI ~ws ~I \'\Of w ~l_,ill c~! ,:;_,;\! .)c. ~\~I :i;.. }ii ..fi!J •4..¢..-
JI , JL.. ., _:p.. J t}~ ...,;,,. ., _:p.. Jili.11. :;IS. _,! ~ ~ .lit:. .li....11 .:;fa. ,:;'. ~ ..ill..l t-:, C.L-Lly ~· .o\,ji ~ ...s~'f.1 t}L...;..,JI ~,:;_,;ti,:;... (Y-) ~I ~J .M~..JJfa _Y-t.
• ~ Ji • ... \.:!WS ~I .lit:. c'ly,) j.YH, }.:JI 1:i,. ~ t:!y!.J ...siJ ! _:;_,;till 1:i.. r'~j
;. ..)~ ~~ ;. .J'+-- JI .i,U-) ~ -..r...1 ,:;...J . JWI JI t}~ ~.l.! Jili...ll .jlS. ,J ...r"
_;.i. I~ J) ~ .li...\l ._..i l..l.l..l..o ,:;..;JI .jfa. .iiJ . jt.. ;. ..;_,..-._..i ,:;..;JI j.) ~..l J ·~~ . • .:..IS...;.:JI ..:.i_,;~ J)l;..'f.1 r>~ ~ ...:.1_).)'1 ....:.~,:;... ~ ~tw....! ,i
~JS) .li....11 IA..l..U..;! ...s_?i ~P. Ji, dealing •.?.u....11 ~P. l.ll:>.A JI • (x ••...JI
. (..:.!Li....:._). ~ly valuation ,:;..;JI ~ .)c ,:;l!.fa]I j,l--Lly o..;Jfa .)! o.Jl..!.'f.1: JJ'JI. ~I 1:i,. ._..i _µ1 wit....:; .bti; ...:...X. ..tl\JAJ
...s~'f.l ~I .jyti 0-- (t) ~I u-1! ..)\;;;,.,.'fl .b..;.:JI 1:i.. ~J, ,:;_,;till 1:i,. c'~j
'. Law Reform Act \'I io .u.__....i (..lfo.JI ~) ~lyill c~! ,:;_,;~ ~i ...si!IJ
JI~~!..:..~ I• ~I~ .jlS. lj) ~ ~ ..:...1.,1.?.) .bfa ~I 1:i.. ,jlS.J
"--!.,U... w4J.S.--..!.ll ,) u-1)" ,).:JI 1:i.. ~ ~y!.J ,:;_,;\! ...siJ" o..;4c- y,.!U: 4.i\; .foi
Hire - \ 'l"\o ~ c.S)-~.;'f.1 ~I ..:.i_,;ti ..ill:i U...i 0--J. ~ ...s.?i ~l_,i ~JA!
..l_,_.jc. 0---" .).le ~ 4.,,::.S.. ~I JliJ) ..:ifa.) •..;Jfa c.s1c- ~ ._s.ill Purchase Act
·~'JI .•.fall ~: Ulw. credit sale ~'J4 t;tf,'Jconditional sale ..bJy:....JI ~I
~I o..;~I .:i.. w.li! ~J, ..:...IS...;.:JI _;_,;~ ~'f.1 r'~ •..;Jfa _)!~I 1:i.. ~
..)~ .:;_,.;~J, Companies Act 1948 ''If A ?w ..:.IS. • 1 · ·ti -:r- · 1 · i ·
.:.r--# C "\ · tj..J ~Jll:ic. )'I .::...wwl

: offer and acceptance J~J ~"ii - ,.

~IJ ( & 4.....1.JI c.fa>Y:. .JI' WA""-! ..l_,....i..JIJ) offer y4.;'/I ~~fall~
•~U ~ ....,...14 ~ ~IS. ~~,,sill i'4ll! . invitation to treat ~ 1Wl}
.,,~ ..,..u.J ~I .Jy)\ ~..) \j) ~ L..jl.. u.i.:l ~' .Y4.)1 ~ .!lJj J..i:! ~

- R. Lowe, op. cit., pp 18-21 (')

- Cliff Shmidthof, op. cit. p. 206 (Y)

-
i.
1.).liL...:.....11 .i~ t1 1.l)J . ..sfa!..JI t.Ylc .)c ~ rl_;,11 rAi ~I .:_,..:, .l,!.i.....:i faJ
tY.L...... J..L....::o ~ ~ ~ 1.l~ , ~ J..~I ~ ..S.YH ._s.lll ~4 &.1 .lia..;I _:,...'.JI
. (A1 6.iWI ) J_,..JI ~ JjL.U.JI ~L,ii

.i~ ~ 1.l~ . .ii.JI ~ ~ ~I .i~I u-5 i...sfa!..JI .).1 ~I ~ ~4JI rfo.J

~JI ~I~ r.)h....U ~ l.. .ii.JI i"ly! .i~ ~If>:!,) ~J, ~ . 1~
.) .u,....ll ..1~1 .) ~I ~ ~4JI ~ ~ 1.l! J . ( 1 r 6.iWI ) y..l . 1~ .l!~ u y.11
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·' '· _1\ ... lA.i.n...• "-1...U..
. o.l.o j)U. .l.J.i.:Ulu
• •L
. 0 ~..; · · j ..s~.•. '· .1\a , .ii.JI

~ .UJ, ~.,...&...ii.JI _,~I~ ..,..,fa. .;llu)'I ~ ~16.i.JI j)U. ~I <'.ic. .j~

. (, i o.lWI ) ~ ....i .jlS 0! ~_,.:JI ~ .) ~WI • .:i..

~L,JI ~ ~ 1.l! ~I ~.) ..s~ j4. , wW..1 .)c ~I ~ .)c &;I 1.l!J
~ f' ~I ..:.iW.l!I .)c. ~I ..s~ 'i J, ~ ~I .i~I .) ..:.iW.l!I ..s..i.:i..) ~
. (W 6.iWI ) ..s~ ~ _,_,..:o ~I ~ .)c ._,..,y 1.l)

..:.i----- fa ...s.l!IJ lSJl;i:JI &.1 .lie JA4.:i .ii (':!.ii.II ..s.;l;i:JI .jylill 01 , ~I ·
6~1-
~ .i_,i.JI w.~ ~ &.1 .lie .fi.l -.» ~ ~ • ~_,JI ~.;l;i:JI -;_,A.JI
~L...4;11 .l!.JYJ, ~I ~l....:a.,JI ~Ji;~ ~L.1_;,llJ ~4JI w41J rAi ~ ...r-'.i.JI ._;_,.Lill .l.J---!I 4 ' '-!fa ..ii_,... u-5 ~..JC • .fi.l "4. W) J ' c..S Lo.:i.11 . 'lill
) misrepresentation j......,J...Ai .!JL......lA wfo. )Ii ~) ~I w\....,,}'ilJ >..1»-14 .il_,._.JI • ~\.jjl y~ l).o J}JI y4JI jA J_jyl ~I ) &.1 .iW ::LlS ~ o~I
<..fal_r-C.Y ~~I ~l....:a.,JI 0fo ulJ' (fraudulent misrepresentation A.i:i .(fA,~f,A._J...
-. <-.• ·' •.. 11 uL..u.l
~c..S.r--- .. J ul . ~• ~:•,_11...:J.11 • 'L...o..ll
y <.S""t'
_.1...~ • ·I
. r--~WJ , ..S..>--
.::T.'11
. .ii.JI va_,......J ~ l+l..i ~J ~t....;..,.11 J~ u-5 lAj~ .L.;~I .... _,~1 u_,ilill U.o ('. 1") o.iWI .!ll.l ..) ~J .)! ("1) U.o .ll_,.JI JJLWJ
..>---- .il_,_..JI JJL.u; ~' c..S.J4-iJI &.1 .lie~ ul.).YI wl..l_;,11 ...;~"-..WI ~YI
·~l....:a.,JI ~ .lie u-5
.by!. rAI ..sfa!..JI .)! ~4JI U.o ~I ~l...A,JI ~ Ji; faJ U.:--- t1_,._;I ~.)_w1_).)r1 wl..1_;,14 ~WI r~YI (''A) <.:!11.l.) ~J .)! (,. f)
1.l) ~.ii ~I ~I o- .l,!.i...ll .!JU..:.;! t...S •.l!.ic. ~1..sy..i wl..l_;,11 .!JU. flJ • ~I 6.l,!1..>JI JI ~I ~->1a! .. I .lie J , ..b..i:'Jt.. •
..::...L.......· ~I
transfer of property t....Ll....:a.,JI 41-o µ j-.-.:J ~.fall ~J .~w.,.JI ~.lie
~ ~ &.1 .lie~ .ii .l). physical possession ~I ~j~J (ownership)
, ~_, "-'~ L.. ~ .sA _;Is., la.. •jl.:o...!IJ ~1 Ji;: J_,')111 ~ t~_,i
~ ~) .)c. ~J
t.)~ L.. ~ 1.S~ ul.s • oj~I l.JJ.l ~I Ji; : ~l..jJIJ
J._..i.j.;; )11~J~'JI~6.;\.:-JI h~ 01.s, ~ .jJ.l oj~I :~\.jJIJ, ~ t-"""'I
. l+l..i .)4! .il.w ~ )1) ~! ~

- K~neth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. (')
Cl!., pp 2-}

/,
 ~J, ~......&Ji th- J!li. .l,!j ~ ..:iwi c.ly!J I.lie e}J JAL j ~ .._.;...falJ
jA
j-S.l.J . .l:!.i;J1 .;= Jy.. ~ ~..J:!C-~i J)l;. 4 ~:i.J ..:iwYt ~ jli:l)'t >
...swt ..:iw\11 .JA:i.J -..Jl;!_;u.... JS> ._....aj .l:!J ~ ..r9 ~..?- ..:..i.:.. ;,.i.J1 .~ c.t+U! J,i
, ~WI.~ ._r9 "'-cl..:.:..,JI ~ .j) . ~_p.ll l~ ._r9 ~:i ..si .l,!jl .:fa. ~J, _;= oljW)
~>4!.J • ~ .)! -:..J.t.:i.;) .J! .jfo • .~i o.Jfti..11 ('A) ~l ._..9 ( \) t9.J o.lc.Lil! L4).,
~ j--..AJ' JAL.)! ~i ...:.Ji:u.1 .i! risk ..tl~I :U.,U ,jfo ,jylill ~:.>A ('1'.) ~1
~I ..l...-i U--S:! ~ Y.J ~ .l,!j .)! ("-;.li;i. ...Ali) .,:;.;.i1 j..lS ~.l:! ,) 'JAL'>~
. .:...wYI
For the purpose of ascertaining the _.>--l;u)I ~ wl_;bYI ~:.>A JSl:iJJ
intention of the parties regard shall be Wi_;bYI u~.J .i.WI ~_,....,..; .)!
Ruic (2):
had to the terms of the contract. the · ~4 ~I u.J_):.11.J
Where there is a contract for the sale of ,jlSJ ~ ~~ ~ .i.WI ,jlS lj) conduct of the parties and the
specific goods and the seller is bound to circumstances of the case.
~~ L.. ~ ~ L..jl.. ~4JI
do something to the goods for the .J_i:W 'J ' ~ lA ~ Jo fa.
purpose of putting them into a delivery ~I I~ j..c. fi:! j .)! ~I
state, the property does not pass until . ._s~l~~.J
such thing be done and the buyer has
notice thereof.

lA ~·~ ..l-.a..J. "'-cl.....a..JI _,\. ..~ I' W kl . 'JI. ji:W 'J w...11
. ........ - ..)·i ~\.'.JI
- o.lc.lill JA
· ..b,)l,,.)
. ~- .L-.1\ A.,L\j. ~6. '-'"" • "'-cl....<:ull. .J.r- L. \..j....
. .c-.. ..) w...11 jl.Lul ..). i .ill:i ....-'"-"
.r: .)A -
. J . L..W

Rule (3): :~l~.ii:.WI Rule(I):

Where ..) ere is an unconditional contract ~ 1..J~ J:--.i:. .i.WI ulS 1:i1
goods in a deliverable state but the seller · ·
..).)>-!
l...r-
·.L
C:''l.JI ·<I
. <..>-"" - .1 ..~ll A.,Lli
.J r-:-- . sale of specific goods in a ·~~l.i~~u-9~~~
is bound to weigh, measure, test or do ..si .J_.c. .Ji .J~! JI ...>"4 Ji deliverable state, the property in the ..s y.._.:....ll .)! ~1.....4,JI ~ ~!
some other act or thing with reference to ~ ~ y..l ~.Ji.._.;~ goods passes to the buyer when the j-..&. _);JI ~ , .i.WI c'IY.) ~
the goods for the purpose of ascertaining , ~I jA JSl:iJI .._.;..fa. ~~4 contract is made, and it is immaterial .Ji~' ..::..s.J .JI ~.ill ..::..s.J ~b
the price, the property does not pass until t.l......A M ,) ...--1! ~' Ji::W 'i whether the time of payment or the ti me . \M)l.S
such act or thing be done and the buyer .JLb) ~.J ~I .JI u~I of delivery, or both, be postponed.
has notice thereof. . .ill~ ._s_;i.Lll

- R. Lowe, op. cit., p. 24

(')
- Ibid, pp 25-26 (Y)
 iO . c ~I
V.) • ~I
L~ ~ .· ..r'lill I -''I
...,_.,.., if

: methods of delivery ~ ~ • ~ .:r---.J • c.>.!JL.>...o.11 ..,.i -,..WI PJ f> • ylc ..,.i ~~"deliverable state"
. c.s3 J'i I o.le. lill ~ J ~\.'.JI o .le. till .s Y.:,

. Jt......ll y. 11' J • physical transfer ~ ~~ ....,wi1 Jilli.'

bill of ~I ~Y.
export ...s..>-:!.l..a.'.JI ~I
~ .J----AJ' L:U~I ...:Ll..L....a.....11 .,>- L.. ob. c.s3! ~~ tfa. ~1.)1 o.le.li!I ~
J.,.. •document of title ~I~) .)-.ill Ji.ill. r .Ji on approval • ~1~1 c.s3c ~1_,.JI • t..>"L..i
...-Jc. .>-
J..;,:.... ...sy.!.. c.s3! ~~I
.lie. .) ~~ ~L...:..~11 ~.)A t_,;.11 11\J, lading .L-.. ..,.i ..ui u1c:. ~1.)1 o.ll:.lill ~J . sale or return • ~~1 J.J Ji ~I • t..>"L..i
.sale : b) ..s y..:....ll c.s3! ~I Ji:w '-!WI

j-....A ~~' .) ::i:... ;fa fa!J . means of control ~I JjL..) .)-.ill Ji;ll. r . ~lb~.>.! ~i wy..:r.J 1.54 rli JI, ~411 c.s3) ..U_,,.i Ji ...:.u1_,..1.5y..:....ll ~Ji - i
..J·i ...r--J
·. <-. ..J..r---'
· ·. ~·'I c~ .. t...~ '-'··Li.
r-- · · · l.S""
..JJ"'-" _i ;_; .. '-'I
.)'"-A ......J
, I~. ..,....'l..JI t_,...:t\ JL..) uJJ ~L....:..,.11 ~! ....siJ ~411 c.s3) ..u_,..; JI .uas1_,.. .sy..:....ll ~.>.! t1 -y
• ~ ~~1 ~ rli.. rfa. . ~~I u.:..i ..>! ) ...b..;.)

: delivery ~I : 'i.JI

.J:!fa ..)c &1J ~411 ui ::i:... l.i..:..fa! l~!J. ~411 •j4'>- ~.) _;#J WJ.b..o
~ ~411 ,).i ' ~ J~I .) ~ .J ~ ._sy..:....ll c::JL-l ~I ~~I
It is the duty of the seller to deliver the
.(')bailee· ~Jyl .hit.:..· ...:i.i.... ~J • ~411 • ~ .uc. ~ .iJWI .:i.
goods and of the buyer to accept and pay
for them, in accordance with the terms of
: place of delivery

.. u
~
~~
~I
--ul.1.. the contract of sale.

: ..,..4 L.. c.s3c ~ ...s.lll \ - °I'~ r-i11 '-!WI ~ µ1

The place of delivery is the seller's place J-c. _>--i.. .J" µ1 uts... ufo Unless otherwise a~ed, delivery of the
of business, ifhe has one, and if not, his • J._..c _)... ~411 .s.ll ..:.its I~) ~411 goods, and payment of the price are
residence: provided that. if the contract ~ • ~Li! _)... ufo .l;o..J:! r1 ~J!.J concurrent _£Qncjitions, that is to say, the
be for the sale of specific goods which to ~~ t* ~ .li...11 ulS I~) ..ul seller must be ready and willing to give
the knowledge· of the parties when the .i.....i....11 .-ly) ~ wl.)..YI .-1":! ~ possession of the goods to the buyer in
contract is made are in some other place, .!ill ufo ~i ..;ts... ..,.i oJ_,.,..,.. 4Ji exchange for the price and the buyer
must be ready and willing to pay the
price in exchange for possession of the
- Ibid, pp 93-94 (') goods.
 , '/ .<~I
U) . ~I
L~~- ~• ·. ..s''WI ...,...-
'-"I ,,
ll
: acceptance and rejection ~)IJ J_,,.All : t.,..ii:; that place is the place of delivery.

~l.....a.,JI
~
~-'.
JH
Y--! • A..lWI
..s.Ji--..:...ll ~IJ .J.o -.;i ..,.Jc. (rt.) ~I~, Li_fij) ~ L..S
o.lA. .) • ~411 0) ~· ~ ~ ~ .-.;\ _,J ~
~\.....a.,JI J_,,.i ~ l,F- ...:..1...4:!_,.:. ~J
ljl.. WSJ J , "-,!!) U.. ~I
._s~I ~~ ..;i ~ (o,) ~I ,) ~ ~_,' ~.)JI~~~
: time of delivery

Jw'J ~I...:..!_,~' ~I
~I ..:i!J

u~ Ji..
II
. .li..lli .l)_, _,. w ~\....o,JI ~~ ufo. J~I ..;i u-1:- (ro) .J (rt) .jt.......ill ~_, . ..s _;l.;Ull
.li.JI .,,.; >.ilc. t..1.4 l1 _,..:. fa. ~1 ...:..!s .i~ .s :i. 11 ~1 ,) .fi:W
: u-4 L. u-1c t - 'I' 'I ~I
LJA--i.J 1:i1 ,,._;i ~ ~ «» ~I u!-i, rejection ~\....o,JI (.)Ai.) ~4 t..l
~ ~ (~ .li.JI J.._,y:. U-0 .la.~ ~)'I~) ~\.....a.,JI ~_,.;l.i ~ u-1:- ..s~I Where under the contract of sale the L.jl.. eftl ..i.ic.. ~>4! ~411 .jl.S lj!
. ..:.......i_; ~~1 u4 ~411 t~! ~_,. ~411 ..)! ~le.!-! t..y.. seller is bound to send the goods to the ~-' _s~I .)) ~t...;.,.,JI JL... .;!-!
buyer, but no time for sending them is ~411 .jfo. ' Lo-JL... .;')' w! s .)~ t1
fixed, the seller is bound to send them u.._j _, ~ ~~I JL....J4 L.y..
within a reasonable time. . J_,k..

• a question of fact ~LJ_,14 J1.:1i ~WI ..JJ.i, J_,i...JI ...:..i)I _,.i.t.. -i.:.b.,j t..i
. f-'l''I ~ill_, i.:,,_,.;W4 ~J

The obligation of the seller is to transfer and

deliver and that of the buyer is to accept and : cost of delivery ~ ~
pay ip accordance with the C.O~l!fh-
~I ~ ' tJw) .l ~ s ('.)&. ~6. .,,.; WSJ .J ' ~.)JI tJw'i L...L...i ~WI • .lA. ~ I
J...S.J' ..:.iu)all ~ ~ w J}JI ).~'JI~ ~yYI i.J_,JWI uJ.i' Wl...l L..S_,
..s-1!
~~)'4 ~l .••~IP...41.i ~6..) ~\....o,JI ~ •-i.ul-.. ~411 ~ ,) ..)c (o) 'I''\ I
. ~j ..,.le. ;..,.:;_µ1 ~.)~I I 1
~ ~ U..U .l Y!-_, ~ ~6. .) uu )all 4-! rfo ~~ _;:-....1 Jc. I ,Ji ~ s _,. ~ L.
0_,.;L.il1 w- ( r , r - Y } ~1 ~, ...:..t.._;.!)'1 e;}ji'.,,.; .i..;J.i, f' u.-_, . .li...ll .,,.;
jI
:~ i, u-1:- UCC ~_,..11 ~yYI ._s_;l.;Ull
: delivery to a carrier Jil..lll u-1) ~1..4,JI ~ I

Where this ~~.i.;.._,1:i1

burden between the parties "unless ,....;1;--1.."'11 0J.! U,ic _,1 ~ ~
otherwise agreed," the agreement may J~ · , ~ • .> t~ •·• .It..
.A"" ..s- '-""":! r-

not only shift the allocation but may also JJ J;.; ~ ~ JL..i.")'4
divide the risk or burden. _,1 ~I ~ W:.,il Ji·~'
.~y..JI

uJ~ ~->"'JI u.Yl.ill u.-

(Y) •.iWI _,,.,Article· o.lWI • ~ u. .l_,_&..11 (')
~ .)! 4-1$ 0_,.;\ill ~ ~. 0_,.;lill u.- .,.;~
J.,...iJ1 ~ ..;11.J, ucc ..a._,.Jl
W. JLl....11 ~~ o.lWI ~.J' Chapters J~ .)! y.)I <.s" Articles .ii_,.
. Sales t~ I
I 1
 '"') . c..-=-
·' L....>.:;.JI ~l..ii&. ·'WI
·<.s' ~ '-''I i"

goods which to the knowledge of the l,i-ii ..iiL...::JI d J .jl.9 .)JI ~

parties at the time of contracting are in J-..S. y.i 0ts.. ~ ~ o.l~_,... The price can be made payable in money . .tlJj ~ _,i , l.li.i ~I ~.l ~J
some other place, that place is the ! µ1 .jl.S.. y. wLS...11 I .la or otherwise. Jf it is payable in whole or ~ ~ Ji "'1S .y'.JI .jlS lj) J
place for their delivery; and in part in goods, each party is a seller of J._S .jlS ' ti~ • .)~ ..s-9 ts.ill
the goods which he is to transfer ( section ~ ~ ._;JI tiL..o.,JJ W4 ......;.):.
(C) documents of title may be delivered ~I ..::.1.u:........ ~ j.YHJ -~ 2-304, subsection 1 ) . . ( "\" ..r _;ill .i;,JI , I" • t - 'I' .-iJI)
through c.ustomary banking channels. ~I ..::.1~1 ~.):. ~
··~I The parties, if they so intend, can ~ ...::..p:;) lj)' ~y,.u ~J
conclude a contra_!(! for sale even though _,_J J ~ ~ .lie rl ..>!! ' .m.:i u1!
j\i'.i)'I (':Jc. JI' µ1 JI ~I .:.JJ w~ .jyUll ~ u....i .l~J r:.c. ~6. ~J the price is not settled. In such a case, the .jfo. -'JWI o.la ._..! J . .y'.JI ~ rJ
: reasonable time J_,i...JI ..::..i_,JI yi. µ1 JI ~I UiJ ..:.ifo. .!ill .).c. price is a reasonable price at the time for u....JJ J~I ~I ,.._... .:;..UJI
delivery if: :J..;.YI .;.,)'WI _r9 ..illjJ .~I
The time for shipment or delivery or any ..si Ji ~I JI ~I dJ .jfo.
other action under a contract if not ~ ' L.. .lie ~ ~ y.i ..._;y..o:i (a) nothing is said as to price; or ..>"'~ ~ ..si .fi~ t11.:i) -i
e_rovided in this Article or agreed upon ' 'oJL...JI o.la ~ ~~ u....i ~~ Ji!~I
shall be a reasonable time ( section 2- ..::......_j_,JI yi. , .!m .).c. ~ t1 lj) JI
309, subsection 1 ) . ~I, I"• '1-Y ~I) Jfa...JI (b) the price is left to be agreed by the • ._Hi.)JI iJli'.iY ~I .!ly 1:i! -...,..
. ( ., . ..r _;ill parties and they fail to agree; or Ji ! jl.Li)'I ~ I~ J

~ tiWI ._:,... liL....:a \,!.ii.it til...o.,JI &! .lie~, ~y';I ..:,,_,;Ull ~~J (c) the price is to be fixed in terms of y.....l wJ J.i:.+- ~I .jlS lj) --;>-
, ~Wll ...:.iJ "-! ~ .).c. ti4JI .:fa. t1 ~ Ji jt;...) Ji i.JL....:a ~ LS I 0-4 • _,!.;.. J , ~ some agreed market or other standard .;~ JI ' ~ 0i:i... ~ j_,....
: ~ L.. ..)c ( I"\ 'I' - 'I' ) ~I ~J . .tlJj ~ .).c. ~ .ii.JI .:fa. t1L.. as set or recorded by a third person or pi ......;.):. ~ _,i ~ y.i
agency and it is not so set or recorded. Ji .l~ ~J' ..s.?-i ~ Ji
1- Subject IQ subsection (2), there is in a • (")~_;ill .i;,JI •lc.ly ¢:" -\ ( section ·2-305 "l") ·~
contract for sale a warranty by the t;>'l.JI · 1..iL....:a ~• ..11 .lie ~· · •
. ...,...
seller that
_;--.i.. ~ µ1 ~.) y. , ..ill~ y,i:- .).c. ~ t1L.., ~~I ~ .jl.S.. ._.l .J.....YI J
a) the title conveyed shall be good, and .j---..e ~L>. ~fa.JI ~I w4 -i L.. .).c. ( r." - ") ~' ~J . J..c. fa .o\.l fa t1 I~! • ...:....u) fa _r9 Ji ti4J1 J....c.
its transfer rightful; and !~ ~ ..:.iiJ • .;,L..lyll "-!i :~

b) the goods shal 1 be delivered free from '-'i u.- ~L>. F tit....;...,J' w4J -.. ,. , Unless otherwise agreed
any security jnterest or other lien or JI ~i j~I Ji yL....:a ~
encumbrance of which the buyer at the ~ ~ .).c. ti4ll .:fa. t1 ~ (a) the place for delivery of goods is the fa~ til..:.:.,JI ~ .jlS... .jft! -i
seller's place of business or, ifhe has ,J i.:i! • ...:....u) fa Ji ' ti4J1 J..c.

~..>-YI ..;_,.;L...ill ~ t~4 IY"WI (Y) ~I~ LiA this article ">JW .~· ~ (')
none, his residence but. : .jS.lJ • j....c. fa .o\.l fa
I
I
. ucc .ia._,..)l
(b) In a contract for sale of identified

1
 ...S;~I ~I ~ : .;ll!1 J..o.<.11 V.

effect to a reservation of a security oL...J:.lya ~J . l.Jl...:a ~ ~ time of contracting has no knowledge.

interest. Subject to these provision and •~L...JI i"~IJ !"~'ii .LA.
to the provisions of the Article on U_,ii.JI ~L........14 ~WI (2) A warranty under subsection (I) will ..J~I J!..W} ~t...,u..-1 ~ 'i -"I'
Secured Transactions Article 9 title to J,......Lw • (" •.iL_.!1) ..:.li~4 be excluded or modified only by 'i) (1) ~_;ill ~I~ ~)_,ll
goods passes from the seller to the ._.-l! t-iWI l.J.-A t-i~I ~ specific language or by circumstances ) ~I ~I~ .tll:i ~I lj)
buyer in any manner and on any ...s'i L....iiJJ ~Ya ~~ "y..w1 which give the buyer reason to know ._sy.._...:..JI J..___..w _;JI uJ.).JI
conditions explicitly agreed on by the ~~I~ ~ JL... .bJy!. that the person selling does not claim ._si....JI ~I ,J~ ~ti:;c.'ii .)c.
parties. . ..):!_)JI title in himself or that he is purporting '.........a.l~I ~ ~'i t;H-!
to sell only such right or title as he or ~I ..bii y. ~ ~ t.. wl JI
2- Unless otherwise explicitly agreed, a third person may have. JI .,a ~ _,~1 ~I ~ JI
title passes to the buyer at the time ·..>:"-II
and place at which the seller
completes his performance with (3) Unless otherwise agreed a seller who
reference to tb~physical delivery of is a merchant regularly dealing in
the goods, despite any reservation of goods of the kind warrants that the
security interest and even though a goods shall be delivered free of the
document of title is to be delivered at ~tful claim of any third person by
a different time or place; and in way of infringement or the like but a
particular and despite any reservation buyer who furnishes specifications to
of a security interest by the bill of the seller must hold the seller
lading: harmless against any s~@ claim
wfUcft' arises out of comp iance with
(a) if the contract requires or authorizes uL.S JI t-i4l1 u.o .li.JI yll.J 1:i) -I the specifications.
the seller to send the goods to the .l......ia.11 ~ L.....o _,i.. t-i4ll
buyer but does not require him to .sy.._...:..JI ..,--]) ~I J..,...J/ w~
,.:,_,.;till ~ • t-i~I ~ ~ t-i4JI ~J ~I J=liJ..i~·)..:.J~_, _
deliver them at destination, title passes ~ ~ y,t.:J~~·~. l~us.J~·
~J!_ J------=--=-~.:__.::__ _:___::_::~:~. tt..~>:;:k:;;..i.:..~yJI
...S.J~I ~ya'JI
-------:toi:::::t'.:h~e=-=b~u~y~r_at
tbe time.and-pleee-o - ~ - - . .li.JI
I:·-~ · i ·-< · · 'J - I
shipment; but ._.-l) L.pl.JI J,......i:W , J_,...._,JI 1- Title to goods cannot pass under a t''L......AJI. .;_.s.i..
- ~..; ~
-~ - Uw 1 11 .lit-
-
I~ ,j.S..J ui J u-i t.S ji.-WI contract for sale prior to their .:
l..J--:"' ~
...
~ ~

:us.JJ identification to the contract (section -Y ~1) .l...-i..ll .)c. t-i~I

2-50 I), and unless otherwise explicitly ~ .)c. ~ r!_t..J' (o •I
agreed the buyer acquires by their .tlJL._JI , . , ,·,sJ , ~I y-o .tll:i
(b) if the contract requires delivery at ~~~I .li&ll yll.J I~-...,_,
destination, title passes on tender .l....$. " Js1.11 Jill; • J_,...._,JI identification a special property as ~ L.....o~ ~ l+'.ii!~
there. . ..!ll..l4 ~I c.>a..F- limited by this act, any retention or Ji ~ ..siJ . .Jytill I~ \A~
reservation by the seller of the title ~~t-i~'..J-o~
3- Unless . otherwise explicitly agreed, ~ y,.-.t. ~ ~ r1 t.. -r (property) In goods shipped or w...L... Ji ~ t-i~ (~)
where delivery is to be made without wL.5 l:i) L- ~ u-i .~,->"""' delivered to the buyer is limited in ~ ._;I ~ ..sy..w1 .))
 c L>.:i.JI
'-') . c..~~I ~ ··..s' -~I <.>--
I -"I
VY
V'r

o _>'~ 4-! J;.~ )'I ~ ~W:..i moving the goods, J._i; 0J..l./ fl:! j ~ IJfa ~I
kept available for the period-
J_,_..i..... ~ .....__y.JI oyall JI~ :~~I
reasonably necessary to enable the
buyer to take possession; but I ~ j4'- .:r--- .S _;..:...JI ~
fl_, (a) if the seller is to deliver a document ~41 ~.) IJ_}... ..JlS 1:i.1 -i
of title. title passes at the time when ~ ~I Ji'.W • ~ .ir........
(b) unless otherwise agreed. the buyer ~ ' ..fill y,i:- .)c ~ ~ t.. -....,.. and the place where he delivers such ~ ~ ~il.11 .j\S..JIJ ..:..i_,ll
must furnish facilities reasonably wL.!.i.. ~ 0i .,,sy.:...11 ~ documents, or _,i 1 .::...1.lU....JI .::i.
suited to the receipt of the goods. ~ 'i J_,_ia... JS.-.....Z.! .......'.)I..
·~~I (b) if the goods are at the time of w......; w ~~I ..::...;lS 1:i) --.,..
contracting already identified and no ~i µ .j_, .liWJI ..:..SJ ~Lh...
4- Where goods are in the possession of a j,!Ai o j4'- ~ ~t....;..,JI ..::...;lS l::iJ - f
documents are to be delivered. title ~~I ~ ~ • .::...1.ir........
bailee and are to be delivered without i;-=:i :; IJ~ ,)S.J' ...i~ passes at the time and place of . .l!Wll ..:,,LS.. J ..:..i s
---=:c' • : l+lil ~ contracting.
being moved:

(a) tender requires that the seller either u.:..~ 01 L..J u.:..y..11 ~ .I 4- A rejection or other refusal by the ~J _,i ._sy.:....JI ~ ~ t:i! -~
tender a negotiable document of title J_,1~ J.;~ ~ .lii.... ~411 buyer to receive or retain the goods, )_,.......,...., j.-A .s_?.i OJ~ ...sL
covering such goods or procure ~_,l~~l.i..........A~ whether or not justified, or a justified j~,I Ji ~.I ~.)I
acknowledgment by the bailee of the .:r-+-1 0- ).~! .)c J~ revocation of acceptance revests title Ji wl_;J:"--' .._l..l./l-! .._1_,... ·~~I
buyer's right to possession of the 0 j\..........p. ~ LS_;..:...JI ~ jJ ~I to the goods in the seller. Such J-"'9 ~i 1:i! Ji , wl J..>!-" ..JJ..l./
goods; but. ~JI ~W:.,.11 revesting occurs by operation of law , -.,..t+----YI . . L..bc:.! t"' ~~'
and is not a sale. ~~I ~ ~ .J,!.i,.. _:;.. ji:..;!
(b) tender to the buyer of a nonnegotiable y,..-i:- ~ .lii.... u.:...)&- jfo. .y JL..iii~I 11' ...:..~_, . ~411 .)!
document of title or of a written _,I, 1.5~1 ~ j_,1.l>ll J.;li . • L..+!. ..Jfa. 'i J ..)_,.;Lill 'i l..= !
direction to the bailee to deliver is .:r-+-l ~! ..,.!~ ~ _;, u.:...)&-
__...:::-
sufficient tender unless the buyer ~ 1::iJ \,!ili \.....:...,;&- , ~ .i..l~I
seasonably objects, and receipt by the ~_,JI u-i 1..5 .,;.....-:..JI U.:.. ~
_______ ..,,ailee_oLnmification of the bu er's .:r-+-1 ~) ~-' • ...,.....wi _.....,__ __;;t_- ,) . · I r..>a..;&- ~
_T;;..e;;..;n;;..;d;;..;e.;..r....;o;;..;f~de.;;.;l;.;..iv....;;e~-....;;r..;..eq;;i..u;;.;i;.;..re;;..;s;......;.;th;;.;a;.;.t_t;;.;h..;..e-'~- '
rights fixes those rights as against the l.S~I J~ J · ~ seller put and hold conforming goods ~L.b...ll ~W:.,.14 ~-' ~411
bailee and all third persons; but risk of .:r-+-1 ~I_,..~ J.,WI .::i. at the buyer's disposition and give the .)_, c.SJL--...:.....ll u~ ~
loss of the goods and of any failure by ~ Jli.J WSJ_, • y,AJI_, .i..l~I buyer any notification reasonably ..;~ Jllu! .sl .s_ji..!...ll ~
the bailee to honor the nonnegotiable ._,..;4- .;... WW _,i_, ~W:.,.11 ,).iii necessary to enable him to take .:,,... ~ J_,i..... ~ 4JJ.fa
document of title or to obey the '" ""! rl~I l.:F-- .i..l~I i.:»ai delivery. The manner, time and place ..:.,_j-'-' yfa..i . i~_, .
~'JI
direction remains on the seller until _,I J_,1~ J.;Lill y,..-i:- ~1 for tender are determined by the ~-' Jlli')'4 r.,fay..11 ..JLS...J
the buyer has had a reasonable time to
., 'I
t'l....-i' ··•-
!.}'""' ~
,~-·.n.
1~ 1 :<NI
•· _,..~ rf"' agreement and this Article, an d In · 1.
:U"':'
w 1:• ,
i.a:oJ ~'iJ • o..l
w I o.lA·
present the .document or direction, and J_,_ia... ui_, (.$_;..!...J} cl.:i,i 01 .)! particular:
J........l.•~:!J , ~_,:.JI _,i ..u......ll r:i..ii:i! [
a refusal by the bilee to honor the
~4 ~li_,!I ...i_,-.11 i.:»al u.:..iJ (a) tender must be at a reasonable hour, ~L... ~ u.:..y..11 ~ wl ~ -i
document or to obey the direction
• u.:..y..11 1::i. , ~_,:.Jl Jl,:U..~l JI and, if it is of goods, they must be .fa~ u.:..y..11 0tS 1::i!_, • jJ_,i.....
defeats the tender;
II
 c
'-'J
L>.:il1
.
~' ~-
c~ .·...r ·w1 ~1 -'ti
vo

5- Where the contract requires the seller ~WI~ j .li...11..,..J.b:i1:i! -0

to deliver documents. :..:.1J..U....J1
:~~le~~.)~' t-'*1' tl_,;i .foi j~ ~J
(a) he must tender all such documents in J_.S :>a~ j ~411 ~ ...,_i..;.J -i
absolute sale ~ & - correct form. except as provided in s .)_,_......,. ~ ..:.,1.ir............1 • .:i......
. ~~ ~I U1.. ji::.ii J ~I e}::. : .~ ...s y::....ll .._,l) ~1 Jl.W) ~ ...,..Ufa. this Article with respect to bills of (.)4--i ~ ::.y, L. l.i.:.~ ~
..>-'" .. • • .b~ JI .l,!i J$ lading in a set ( subsection 2 of ~1 _,.,J ~4 o::.WI o.'.i.. ._.j
section 2-323 ); and ~1)~~~~1
! (nr-r ~1 ._y. •._r_>'ll

(b) tender through customary banking J..-.:!...rb ~ u">~I ..J~ -..,...

channels is sufficient and dishonor of a • L:!SlS oJ~I ~I ..:.,1 _,.iill
draft accompanying the documents Llly "'11>"'-i .. l.9_,11 f'.i.:. ~J
: cash sale l.S.wn constitutes non-acceptance or rejection. . ;fa.i.;) J_,,.i ('.JC. ..:,I~
. ~I ~ .ijc. l.)i; ~I ~ ~ ::..i..U

: sale on credit <.P.-~l.i & -

. ~I ._.j ~4ll .u.; e}~ .) ~ ..s :;z:&D (;'JI ~ ~ ~ ::..l.....U: J}'il ! ~ ..ill:)J I ~.)~I t-'*11 tly)r cJ,!i;:, ~<-I..)'?>) ..,...._]I .jA
.jyL..ill ~.;~I t.'*11 ~ t~
.._,.;LJ1J ! lA ~ ~ : ~ ~I ::. _,ic. _,;JJ t
sale and return J)\ J~:...~ - .J-A ~I 0_,;\lll 0l-i I Ull.....11...SJ . ...s.;l+JI .jyWl _Ji.YI ~1 t_,..o.;.J I ~I
·
~...s~
.~ u1~.J1:i1 <\_ji .b~
. .
...s_;..Wl <1.C.~I ~
. \ 1.,_
~411 ~~
. ~1>~)11
~ lfa J....l>:! ..S.J~I ~1 .lie. 0i t.s" ;.J,jL...JI 6.icli!IJ. t.;ill y. ...s.;l+JI .jyli!IJ, ~)'I
.. j...-?-11 .!LUI~ 4_;..;.... .>- ~ ..,J J ._ ..~ .
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Contract for Purchasing Sugar
THIS AGREEMENT made and entered r» ~11~ JY:.
into this day of .

BETWEEN: j:!

Buyer: . . .. . . . . . . . . . . .. . . . . . . . . . . ..;_;..:..JI
Seller : . . ..............•........ :~~I

Whereas Seller, with full authority,

certifies, represents and warrants that it
can fulfill the requirements of this
Agreement and provide the product
referred to herein and under the terms
agreed upon hereinafter; and
Whereas the Buyer hereby makes an ~I I~ Y-?->"-1 '-5.fa!..JI _) ~-'
irrevocable firm commitment to purchase ... ~1~ .;i..;_, t-bli ~
rfo.
..... metric tonnes of refined cane sugar J~I y...:.ill fa 0" lS fa LJ.b
grade "A" , .~_,'ii 4yi1 0"

The Seller and Buyer now hereby agree l5J>..-...Lllt:'" ~I ~I ! 1j,___j

to honour this contract under the .lfa.ll ~>"-!~I 141 rl_;.J;{I ~
following terms and conditions: : ~"JI .J.._,_y!JI_,

~~~~A~rti~·c~le~(~l~):~P~r~o~du~c~t;;:--;;;:;:;;i~;;-;;~~;-:L:-~-:-:~~rfi:=':._~~J.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
- e me cane sugar grade "A" fit for cJL- ~_,I 4J.l J.ft.. ~fa
human consumption (specifications: see .)ul ..:.Uw.1_,.JI) ~YI~
Article 22 ). .(Y y o.lWI

Article (2): Origin l..!.W\ : (Y) o~

The origin of the sugar is South America. ~~I ~_,.I _,. foJI ~

Article (3): Destination ~.,ii ~ : (T') ·~

The Shipping destination of the sugar is .............. ..s-1' foJ1 ~ ~
...... . Buyer agrees to notify Seller ~L..,JI Jl.lu.) ~ c.S y.!..Jl Jil ~-'
within thirty (30) days of shipment ( see 0-" L.....~ (r.) ~ 0_,...ot. ~
 ..S .) G..:i.JI
• .ou..JI ~
C...""""" ··~.........,
., •11 ..r--
I -''I
'Ir

enclosure 2 ). . ( r ~_,.JI fai) ~1

Article (6): Quantity ~: (i) ii.iWI
The quantity sold by the Seller and ..j.<ol _;..!..JI J ti4JI ..j.< ~1 ~1 Article (4): Delivery ~: (t) ii.lWI
purchased by the Buyer shall be ..... . ..SY.,...... .fa . . . . . . . . ,.sA ..S _;..!..JI Cost and freight to . .. .. ... port are to be ~LJ:.. .)) ~I ofi'l.J ~I ~
metric tonnes. The shipment quantity is o.)~~~,~~~J designated. The goods are to be delivered . ~'
is---'-'~ • I• "I ~J·
\ -; .
determined by the certificate of weight 4 y ~ ~ .J"' o y~I ,jj_,!1 in lifts of 12.500 and/or 25.000 MT (see iJ..--.1:. ro, .. 'JI \Y,o., ..:,,y~
from a first class inspection authority and ~ ~~>i~J' ..)JI enclosure 2 ). ~I) c.J:!'.il~l ~.) Ji vfa
by the Bill of Lading of all sugar shipped ~) ~IJ c.J~I _;L.....ll . (" ~_,.Ji
and delivered to the Buyer. . ..s_;..!..JI
Article (5): Shipment
Article (7): Weight and Quality • .l.,P.J\J WJll ( v) • .lWI The daters) of the Bill of Lading shall be
The Seller guarantees on his account that ~.;. "'-!L-. ..,---le ~4]1 ~ considered the date( s) of shipment. First
each shipment of sugar will be provided ~ J._..S.l o.) ~I J -:,j_,ll ~Lo... shipment shall be within thirty to forty
with an inspection of weight and quality ~.). ~ ~J ~I ..l.Jc. .fi.... five ( 30145 ) days from the receipt of
at the time of loading by an .)}ii 4.J-lll ..J.< ~t.....J "'-!liJ ~ operative docum_:nts accepted by Seller.
internationally recognized first class 0~ ti4l1 ~J . 4l J.l I+! ......i~
control and inspection authority. Seller ti~' ~Lo... 41 .:i.. ..J.< ~
shall instruct said authority to carry out ..:..l~lfi')'~ r.J~I r',;.....J)'I r:-- All shipments will be made ultimately l.....i,J. .)4--i ~ ..:..6...:..11 JS ;;.
the inspection of the goods in strict c.J)>--11 c.J~J . W J.l 4- _;.JI according to the scheme agreed between ._sy_........!..JI l..)H ~ ~I ~Li ...;.Jl
accordance with the internationally
accepted procedure. Weight, quality and
~~ .L..,jc, ~l+i J.:l..:...:lll .J o.)~I J
.~I
Buyer and Seller as laid-down in
enclosure (2), which forms an integral
0----i_,.Ji ~ ~,.. _,. L..S ~4li .J
!LA 0"' l~Y I~_» ,l,yvili (Y)
I 1

analysis are final at loading port. part of this contract. Both parties fully ~.)Ji )l.S ~.J . ~ t.w.. .J .lWI
accept and acknowledge this enclosure in .4~ "'-! c.Jl.i~J L.W ~_,.JI 1:i,.
The Buyer shall have the right at its ~ ul "'-!l.....o. ~ ..s_;.Lll ~ full extent. ·
expense to engage an independent _;l..~o.)J ~t..... .4Ji::....... ~t..... ~ 0"'

_____
ins ction a en~_y_to.inspect.and-tesHhe·---
_:p.::.u:irc;.:h:;:.a.:.:.se;::.;d:;--go=ods
prior to shipment.
..,..""'-'"~1-W •'Ji'!W' ~-.-.w--- The documents to accompany the ~ ~ly ~I ui..w....JI ~ L.,i.iJ
shipment of goods are :~~I

Article (8): Sale and payment ~.lllJ ~ : (") ii.lWI I. 1/3 of original Bill of Lading marked L>- J~ (l") 0"' (') ..l.lc. -\

Buyer and Seller agree as to the ..:.~I ..)c. ~4l1J '-'~' ~! "Freight Prepaid". ..,.._,......_:;s... ~)11 ~I~>!
following quantities, price and method of :.)Uli ~I ..,.._,i..iJ ~IJ ~_,!.l.o ~I o~i· ~
payment: .'ta,.....
2. The original of certificate of weight and (.)--..A o.) ~I J c.Jj_,JI o.)~ J.-1 - Y
a. The price of the balance of the contract eJL....- .JA L..S .lia.li ->"""' .)~ J.l:.:! . I quality by first class control organization. . .).JI 4..J-l "'-!liJ ~
will be the same unless there is a ,_;_,_...... ~ ~,;... ~ ~ 3. Certificate of origin ~io.)~-l"
dramatic change in the world sugar . ~WIµ1 4. Health certificate ~-.)~-f
market. 5. Export license. ~~)-0
 I
'-") . c..=
·' G..;Ji .......Ji ~- ·
·o.s-' "Lii v---
I -"I ~f II
This will be the case if and when the lj) .J-A L....S ~_,JI 11' Jl>,iJ
Article (IO): Financial instrument and ~~:(l·)o..iL-ll price of sugar grade "A" at the London 0---- .fi-.....JIY'--'-" J._j JI .ii j
draws U4,p.wJ\.J > I market increases or decreases more than ~ c.:;_,_..... c.s5 c)}ii ~ yll
The Seller is allowed to draw against the ~~~~4ll~'J \,., 10 %, based upon the price at the .. ~WWI ~ l • .:,,... fol
.fi...-..JI ~.)WI ~I (.)"L..i \X ~ u~ c.:;_,.. c.s5 .;-II ~
financial instrument the value of the
sugar shipped to the Buyer only upon
proper presentation of the following .,___,...; ~
'J) c.Sy.._...:..JI ~! J._....yJI
.l........lc.
4t.llJ.i~ _,JI ~.ii;
-9 London market on the date of this
contract. If and when such a situation
appears, a new price will be negotiated
u~
u""JL.L.ll
~J
~
. .l....WI 11' ~ju
• ..tl._1j u J..b..
documents to Buyer's bank and J~J • c.SfaWI ~ .)! ~ between the parties for the remaining wl_,_J:.YI ~ ~ _,..,.,. J~
acceptance, after due verification, of ol....A./ J.jLJ_,11 ·~ c.S~I ~ shipments of the contract. Both parties . .l..-WI w~ ~41 ~4
Buyer's bank. The safekeeping-guarantee ~J. ~ ~l_,ll ~I then will have the right to refuse a new ~ (.).:S.;--l.Ji ~ ~..J
as issued by Seller's bank will be ~ ()--- J-lt......11 _,.il.i _,JI t.:;L....All . pricing, in which case the contract will c.s-iJ, ~I ~I ~.J
decreased by the value of the sugar ft---11 .o ·ii )~~WI be terminated as per date of the last . I
I .) L..Uc .l..-WI ~ .. ~WI 01'
shipped: :.;,~I shipment and subsequent all financial ~J, ~ y..i ~_;u W"
instruments will be cancelled. 4t.11 4w1 .:..1.i:u...........1 JS
I. Commercial invoices; . .ill.ll

2. 2/3 of original Bill of Lading "Clean 0----- ~,.. W" ti....;(") .l..lC. -'I' b. Payment by unconditional, un- y,i:. .iWcl yl..b. ~I>! ~l.y
on Board" and marked "Freight Pre- ~·¥-YI ~I~>! encumbered, irrevocable, assignable, y,CJ ~Y. ~ y,i;.J .l..Jfa
paid"; ' ~I .;t--l> ~ ~_,.. .)1 divisible, transferable, standby Letter of ~.,,:JJ J-il.! J .. UJ;:U J.il.!
•.>-'!"I • • .J~ l+:!Jc. ._,.,_;&J Credit issued or confirmed by prime ~ W" j~ Ji.)~ ...;~1J
. ·~ ~ _,i.l.o ~I world bank (top I00). Buyer fully fa.i ) c)Jl.JI ~yll .:,,... ~~
: ~I. . ( .ill. -t;L.
commits itself to the instrument to be (.$~ .~ •. 11 e'~J .
3. Certificate of origin in two-fold. provided. . ~ ~ (.5.lll .ir.....J4 J..\.il4

4. Certificate of weight and quantity W" o_tlt..... ~IJ i.Jj_,}1 •.i~.---t _J.......___ _:c:.:·:::F::o;:r=:co::o:=r:;d~in.,,a~te..,,s
oLJluy,er.'.s..bank,see-c:S~~'tlill~ ·~
issued by control authority in lQfiliin~..J;w!L~:::r~ enclosure (1). . (') iJjyJI _);.;I
port m two-fold. . ~
Article (9): Guarantee by Seller ~ u.- ~.i&..ll wl..a..iall : (,) • JL.11
5. Company certificate of sugar fit for .fi...-..JI u~ .0..S~I .:,,... o.l~ .o In the event of partial deliveries only, the .o..__u · .:..~
- ...)'!> ~
- .1 ..~ u~ i.s5·
human consumption in two-fold .:,...... ~'JI ~ cJt..... unused portion of the financial ...... ...>-'-"' (.$ y.......:.....11 ~ W" • .bd
(Certificate of Health). .(~·.)~)~ instrument of the Seller is entitled to be .:,...... e-~I ->---* .. ..)-:!JI 4
cashed by Buyer at the same date as c....--ii .....--! Ioli; ~411 c)WI ~I
6. Packing list evidencing shipment of u...Ji ' 'I' ~ .:...;;. ~ ~li . , Buyer's financial instrument. ·• (.5~ .)WI .ir.....JI ~_;u
12.000/25.000 MT in two-fold. .:..-c.S.J.-w--1. Ull Yo JI
·~
 ..S.J ~I
. a......11 ~
L"""" ·. i.s--'•L.!Jl ..;---
I .:11 '\ 1

Article ( 12): Transport conditions 7. Shipping company statement in two- ~ LJ.< ~I -".Sy!. LJ.< J-M . V
fold stating that: : i:;i~y,
I. All supervision charges and any truces ~iJ wl~)'I ~..;L....c.... JS.' a. 1/3 Bill of Lading and originals of ~ ~ r u.- o.b.lJ ~ .i
or levies at the port ofloading are at "~ ~ r,....._,..J Ji ..,...;1~ certificate of origin and phytosanitary o.l~ J_,...,.iJ ~I ~Y.
Seller's account. ..,...~ ~ .,:,_,_s.:; ~I certificate accompanied the shipment L.;!'.i4'JI ~l o.l~J ~I
. t-'4JI of goods. . .,..; ~I t-'t.....:..,.11 Jil ji

2. Vessels must be classified as 100-A-1 ~ Wi----JI wfo ,) ~ · y b. The vessel's age is not above 20 Y • jJ~ 'J ~I->" .y
in the Lloyd's register or be of ~ ·1-i-\ •• • L.>i...:........:.: years. .L.~
equivalent classification and chartered • i Ji ai.,si Ji ~_,Jll ~
vessels must not be older than twenty ~Y.'i .) ~J • .tll:ll JL...... 8. Seller's statement that no commercial ~;. 'J ..____;~ t-'4ll u.- ).)) .A
years. Y • ~ o ..>-"!>}JI .Ji.JI ..>" invoice accompanies the shipment of ~~I ~lji ~..;t;...; •..;;.ti
-~ goods. . .,..; ~I

3. Not later than forty-eight ( 48) hours Ji ~Li t-'WI Jfo J J...Y. . r 9. Export license. y,.l...,ajjl ._:,j) . '\
from the completion of loading, j~ ~ c,jy}I Ji u-5\ill
Seller's agent shall telex, fax or cable .J--~··ui J ~L__.j jJ~'i •.;.i Article (11 ): Procedures ..:.1,.1~'il : ( 1 1 ) i.lLJI
the Buyer and inform him of the "l+-----:UI ..J--.-o ~ L.... ( t A ) 1- The contract will be negotiated upon ~;.J .lWI J_,,. ~J\..i;Jl ~.' I
vessel's sailing date and the expected
time of arrival at the port of
destination. Seller shall also inform
~~)' ...s_;........!..JI .)) ~I
..:..........i_,JI J ~I ..;~) .ic >4!
~ ~ J_,__..-_,J.l cJ_,::.....11
and signed by both parties.

2- Seller sends hard copy by a special ~ ~.i& ~ t-'4ll J..,y,.

. 0,!i.)Jl .J.o

Y
0
the Buyer of the vessel's name,
capacity, number of hatches, number
of cargo changes and particulars of the
vessel's readiness to effect cargo
o rationLthrough 1 hatche .
--------:c~o-=m:-:p:-;le=-ti'on
of loading, the Seller shall
~i
~I

..:..1~
~~ll

~
..:..~
~
t-'l-:JI r~J . J_,...,._,JI
r----""'4 ...s_;..:..11
eJ~J'
· ~'-
t ~J..!
...:..L..__j~J, ..:..U:..........:Jl
r~ .i..i.:WI Jl.l.U..)
J~-~~~~~~~~~~~~~~==~==
courier to Buyer.

-
..,-J) u-'""'_,-:;..11 wy.;.JI ~Y.

Upon receipt of Buyer's bank .L...;,. u.- •..;i..u. ~._,it ..;_,i . r

coor dimates, B uyer and Seller will t-'~IJ <.S.;..:..JI ~, ..s_;..!...!I
provide proof of funds and proof of .~ wl,u!J Jl_,...)J wl,U~ •
-./._,; )'
~'------rt~
·<.Sy.;....J~·
~·

notify the Buyer of the quantity loaded . lt---=>1~ J__S u-i ~ product.
per hatch and total quantity shipped. ~~I f'L.-;) ~J
r--:. ~I ~ <.S _;..!..JI t-'4JI 4- Buyer's bank issues its in-operative
~!J•~JS..,i~ financial instrument and Seller's bank
-~f'~~I will activate same with 3%
performance bond.
Article (13): Discharge term ~ ·~ : ( ',. ) i.>W
5. Delivery commences according to . .li....llli,>J..~li~.o
I. The vessel master is to advise the ~ J ~I i:;L.i..; ~ .1 Contract.
 c G..:iJI ......Ji - · u-'·~1 I -"I
'""; · L"~ .JA&. • ...r---" 'IA

hours on Monday and from 17.00 r>--! .,L...... ~WI ~L..JI 04 Buyer's agent at the port of discharge ~I ~.fa .,~ ~ ..s _;i..Lll
hours on the day preceding to 08.00 ~U.....
. '-.i..l'.JI ~t..JI ..r""
• w.....ll
. of the vessel, the vessel's name, date 'J~_,11 JL,,,._, ~1......,4
hours on the day succeeding any ~L....JI ..;-....._, , ~'11 r>--! of arrival, number of hatches, and 1.:L~~_, 0.!y...:.ll ..:,I~ ..iJL_,
holiday are excluded. even if used. tY.L......ll r ~I ~ ., L..... ~WI particulars of vessel's readiness to u--9 ~~I ..ii~) J-
.s---5 ~4-a '-.i..l'.JI ~L..JI _;.:.. effect cargo through all the hatches . . ~l_p,.::.. JS
f> _,) _;.:.. o j4-I ~'i ..,Jl:lll r ~I
. ui _,JI I~ rl~I 2. Vessel's master shall give twenty (20) l) ...... b! ~I ..JL...i.J~ .'1'
day and seven (7) provisional notice L..........-':! ( r . ) .:.>u--.!.c- "'--.'.i.i..
5. Should the vessel be discharged at a J~~I ~.fa.U~~_, .e and 72/36/24 hours final notice of ~~~) rl:!i (V) ~-'
rate less than average, the Buyer shall ~.l,! , .1........._;..JI <)- J_.i\ vessel's estimated time of arrival at j~ ~ 4'.il+-.J l.JLb.l
pay to the Seller demurrage at a ~~~WI ~! <.Sy.:....11 the port of destination to Buyer's ..:J_,J~ ~~ T u=t=
standard rate per running day and pro J.-S ~ (.$.)~ ~ _>.P.~ agent at port of discharge. such ., L.._;;.. ~ J ,_...., _,ll ri _,;...]I
rata share for any portion of any such e:---
~tr...~_, ~ rY- notices shall be effected during <.S~I J._.._,;S_, ..,.]! J_,....._,11
running day. It is agreed that ..;-....._, . r>---! <.SI u----- ., ~ <.SI official hours, whether in berth or not. JL-...) ~_,' &.fal' .,4-- ~
demurrage is to be settled according to ~~ul~~I ..:.~L.......JI J)L...:;. ..:.1.JLb'1I
relevant charter party agreement .l......1J L..Ub...:...
. __,...,• ~- Y.:>.
·~1 rl ~~I ..,-i.,l_,..~)1
within 30 days after presentation of: j--!JX .:.;,..._.....:,:.t ~ ~ .Jt.:..JI . 'i
: u1JL.. ~ 0-4 L.Y.
3. Laytime shall commence from 1.00 ~L_:; LI....!_, yl-...:=1 i..l......./:! .'I" I
- statement of facts ~U_,11 u~ - PM, if vessel's notice of readiness to ~L........JI 0-----&.fall ~~I I
- time sheet ..:J_,11 J.?...... - discharge is given prior to noon and Ub ~~I ~ o.i.:..l_,ll
- ship owners demurrage invoice. ~~.)YI r-"'.J O.Jjiti -
.~I
from 8.00 AM of the net working day, ~I<)- .JL.....l.u.)'1 .Jy.....a
if notice is given after noon. If port is ~L........JI J........i9 &fl lA.ll.lU..-4
I
congested, laytime is to commence 24 <)- \.l.......:':!_,, I~ ~~·~~~·l'.J~l-----
6. Any taxes, levies, import licenses and ~L....:>. ~ <.S_;...-.:..JI ~ .i ours-after otice-of-Teadmess as r~ <)- L.......4-a A ~L........JI
necessaiy_@cu_we.ntation · mpased-by-csh _, . _,..._....... u.._...:;_, given. .JJ.l----.a "----.]~ ~ ..,Jl:lll j......ll
of destination, having any .:.;_,:ii_, r_,___,.,..J_, ..,..___JI~
-------':ith:::e:-'":c:'::o::":u:n::try ........-9_, . .;t--lJI ~ .J\.k )'I
effect on this contract are for the <.S.l...JI rY---1' ~_,:ill_, .llfal .1~ .,L..:y...11 rL........iJ u~
Buyer's account and his sole u~J J~_,ll .Uy ....,...fa .l............A ~I ~b ui_, y~I
responsibility. . .l.........ia.11 1~ ~ _;I <.SI ~ )-~ '11 .)~ 04 ~\.... '1'f
·~fl \A.)l.lU..-4
Article (14): Insurance ~(H)i.ll..ll
The Buyer is responsible for producing 0-----C 'i J...-.-.. (.$~1 ~ 4. Buyer is responsible for sugar ~.fa ..:;&- 'i.;....... <.S y.:....i1 ufa. . t
and maintaining in force a policy of ..:}~~ )~l_,(:lfo--w! discharge. The discharge rate shall be ~pl J.l......AA wfa.J . .fi..JI
.:...It . u L.-.1
marine insurance for the purchased goods c--c-
.'J
<.S ~ '-»" • Y. 1200 MT per weather working day of J..-..c r Y- JS <.S fa u.b ' '1' • •
subject to this contract. . ~I I~ t_,.;.,_,.. al_µ...11 twenty four (24) hours. The times u_,.;--J:J1 "-:!i ufo ("'-'L.. n)
from 17.00 hours on Saturday to 08.00 wU_,'-il ~-'.~~~I
 Article (19): Non-circumvention '.&..JI yJ1 ~J&. : ( I ~ ) o JWI Article (15): Force Majeure o .;A WI o _,ill : ( \ o ) oJWI
The parties accept and agree to the i'L....hi ._..-le. ,).ill>.!-' ,jl.i.)JI ~ Neither party to the contract is ..1.-WI ~_rb 0---o 151 ~ 'i
provisions of the International Chamber ~ u--i "-:!J _,.lll ~..)t.;..,jjl 4j _>i-11 responsible for breach of contract caused ~ ..i......j,JI Lil~ UC 'j y..,._.

of Commerce - Geneva for non- .. L...:.i) i':J..-r.. J ~_,I yJI i'~ .J~ by act of God, insurrection, civil war, _,i .J.i..__illJ .. ~1 ..:i..11 ~
circumvention and non-disclosure with 0-' ~ ~ ~ ..:..t..~I military operation, or local emergencies. _,i ~'JI y~I _,i .J~I
I
regards to all and every one of the parties •.l____. ~ .jf.~1 ~_),JI
involved in this transaction and Contract, ..::.LiW. 'JI J , .l....-.WI 1.ll. _, ~I
The parties hereby accept the force- wl
majeure rules of the International uU.)JI ~-'
..l.........:a. )'1 _,I ~fi---..-JI ..::..L...:!kll

.~I ~..Jlhll
l
additions, renewals, and third party e:--- • ..»'-li ul'jl.r.ll_, wl..l,!~I_, Chamber of Commerce - Geneva. s ..Jb Lill ;, _,_ill LL I_,! I~ ...,...,..>'"! I
assignments, with full reciprocation for a ~ o.i........J .J....l4 U.\.S.11 U.t.....JI Y _,.lll ~-ut.;...;JI 4-iy:.!4 ~WI
period of five years of execution of this . .l.-l..JI 1.ll. y,~ 0-- wlfa- .~._,.;
Contract.

Article (20): Performance Bond ~ ~~ : ( Y • ) oJWI

Article (16): Arbitration
'i )~ 0i
~I : ( I ' ) oJL.J\
,..--1:. ul-! _;hl1 ~'Y-
,,
The parties agree to attempt to amicably I
The Seller will place in favour of the l.S~I c_- -IL...J t:''LJI. ~ · JI ~ 01 ~ 4_,11 ~_;hl4
settle any disagreement or dispute. If not f,
Buyer a performance bond of2% of the L4 0-- % " ~ ~ i.J;..el.J Li~ '1Ll:i _;w 4..1~ ~J · t1Y
possible, they are to submit to the ~ W_,.ill ~.)t..;.:i!I 4-._j y.i1 ...,.....J)
contract value in the form a letter of ..1L,.jc) yL....b.i.. JL_.:. ~
credit in the English language: .. ~ JiU y,t:. ~.)!4..;)'1
..ii.JI
W4
International Chamber of Commerce - ~l_,_lll ~J. "-';_,..........:il ~ I
Geneva for settlement. The regulations as 4........;.)L;.:ill Ll y.11 ~ 4. J~I
irrevocable, confirmed and advised ~ ~ ..)L....b.i..)11 ~_, jy..._, per ICC are applicable. . ~J.l!J
through receiving bank, payable at sight. ~-' • ~Lill ~I ~_rb
. ~ t~'/I ..l~ .ij~
11
u1_;--l:i~1 ~i : ( 'v ) oJL....ll

For additional protection to the Buyer <.S~ yW.) "'--:11.i_, _>.!5jJ_,

Article (17):
Contract
Authority to Execute This
.l.ia.ll c) J~Jll 'I
~L.__-11 ~I ~ <.SL.JI Each of the parties represents that it has full L....W J,.....A_;.. <\_jl,. w _rb JS .fa.
who is issuing the financial instrument of
~ , ..)A4 ..i~) ylh>..J authority to execute this Agreement and ·~ <\_jl,.~~l:t'/
a stand-by letter of credit, a bank safe- 1 -~ L...jl.i L...ll......4-~~
keeping guarnatee will be issued by the
~, _.. accordingly that th parry-i b1mm!1>y e . ..i..b_,~J "-4tbl,. i'jl.. ..m:i !I
~I 0-- % \ , A J.lL.~ &. terms and conditions hereof.
-----Seller's banlc-itrtne amount o 108% of
the total value of this contract based on a t--" Y-'"~ .i....J...11 I~ ~'JI Article (18): Execution of the
pro-rata basis on the undelivered ~J 't·~I ..1~r-1~ ..:,~I
Agreement
shipments until the final delivery has . lr'__.. • ·I
''- ''I ~- .1...~11 t"!-u w.......i-' ~ .i....J...11 I~ y,Y:, j-"H
This Agreement may be executed
been made. ~ ~Lb:... ~ 04 041.fa ~

Apart from Force Majeure Article (15), (' o) o..1L.JI u---i ..l.JJ t, .. 1.t;:;....~.u
simultaneously in two counterparts via
telefax or facsimile transmission, each of
which shall be deemed an original. In
• u-SLlll _,i u-S~4 ~I J;_rb
._,.;_, . ~i ~ ~ JS faJ
I
when the vessel arrives at the port of '•.JAL.ill •_,_ill ~k.. IY"~
case of any alteration, written or retyped Jj ~l:>S.14 y,~ 1.Sj WJ.l:>. .Uk.
destination and if for any unforeseen <-Li.:-- ...-J! ~I J~_, .ijc. ~~ on the fact of this contract, said written 14. ~ .u)'I ~ ~l:lS.11 0..1\.:.)..!
reasons the vessel cannot be unloaded ~.fa~ .Uk.._,.;_, ' J~_,JI or typed alteration shall prevail when ~I~ ~l:lS.14 _,l ~l:lS.14 y,_,:Ull
which is not the fault of the Seller and )' t--l_,... y,....t;. ~ <.S"i ~I acknowledged by both parties. . ..ill~ ~.):JI J.ft! -Uh ._,j
 loading port shall confirm product .... 11 - Lh.. e:..
1.::.Jl.i......l ~(Y. -..; . i
":"-,;.II ~I. .. ~11 not part of the contracted agreement, the
conforms with the following : ~Ull Buyer takes over to resolve the situation
specification: and the performance bond wi 11 stay
intact.
polarization : 99.8 % o/o '\'\,A: ylJ:.il..°11 ~ -
moisture content : 0.04 % max. ..i..._.,,. % •, • f : "-!_,.\:.)! c..5~ -
~I Article (21): Non-delivery ~ !'J&. : ( Y\ ) i.ll.Jl
ash content : 0.04 % max. % .,.f: ~L__..)l..s~- If Seller fails to meet the shipment-dates .i.......;.c.l>--! ~WI i'lj:lll r.le. ~..}
~1 ~ plus ten (I 0) working days as defined in (1 •) ;,~ ~ e:---" ~I
solubility : 100 % free flowing .? ~ % ' •. : ,}-!_,.).!1 ~u - enclosure 2, the following procedure will ...-.i ~ >--" ~ J..c. r4i
colour : sparkling white uA'J ~i : 0_,lll - come into effect: wl-.1~°11 .i...____ijJ (Y) J.-JyJI
granulation : standard fine ~l::i ~Li: '.' )!"ill - :L_;,'il

Article (23): Packing ~:(Yr) oJW a. Buyer is not committed to purchase ~i -.l~c..s~t rH'l .i
Sugar is to be packed in 50 kg net, new •.l...-....:1~ w'/l_p,. ~ µ1 ~ ~ any shipment under any similar title, JjL..... u-4---"'"' c..sl ~ ~ !
ply lined jute bags. 1.3..J_,ll t.JA ..:..,~ ub+JI w-"'"11 .J.- which could be considered a delivery ~ ~ L__.,...J~! ~ I

Article (24): Validity

The validity for signing this contract is
~

·~
o. 4---1-o ~ ~j, c..s.,WI
. ~L.o

04...-ll : ( Y t ) .; JW
;,.i_.J .lia.111~ ~_;, c..5~
b.
according to enclosure 2 .

The shipment
compensated
overdue
by
will
unconditional
payment by Seller's bank of the value
be
.(Y) .j....i_;oll

II
ten (I 0) banking days as from the date of ~..Ju 0--- ~..J J...c r4i ('.) of the overdue shipment in quantity
this contract. . .li.JI I~ y,Y:, against the published price in metric
tons of the· London Exchange for
Article (25): Special clause ~ oj&i: (Y 0) oJW direct deliveries, as per the same d
If any party of this contract other than th1:e~.....a~·1;_r..6~l~v-~·
~.__.~·.fa~c..s~i
trl~Y.!J_J~~7.~·----f:----~'"t'.fie
sc e u e e ivery as defined in
bank officers ~grestiog tae-Buyer-arr ·_~I y,t:. .lia.11 I~ Enclosure 2.
Seller should make an unauthorized rlJ!l.--1 ~411_, c..s..ft.:..JI 0..,t..y 0iiJI
contract with the bank of the Seller or the _,I ~WI ~ t:" ~..;o y,e. .lie. c. The pay-order will be executed on first
Buyer, such contract shall be considered ~ ~ .lia.11 I~ fa c..s_;..:..Jl demand of Buyer without any
interference with this contract and shall, ..J~! ~ c.S.l)!J ~I .lia.11 possibility of withholding by any
at the option of either the Buyer or Seller, · ...;i..;J ~! ~4ll _,I c..sji.:..JI party, execution will come into effect
terminate the Contract. based on the sole descretion of Buyer.

In witness whereof, the parties hereto I~ .u.il uli.)JI ~J ~ w l:il,UJ Article (22): Specifications of the
have signed below and by doing so, ~ l...t--i).i ~_;.II 14.i_, • .iW1 Product
accept, approve, and agree to all wl~I JS~~..>! 0w1_,,__, International in.spection authority at .. ~ ~ ~...J.lll ~t....JI ~ .lS,;J
 covenants. terms and conditions set forth
-~-~ •• 11 ti • :! .ti
cS J--' t..r: C""..,...
.ill.• I.>"
. v-.•J •. :. _,.
herein.
Jia.Jl ~ % ' • ". J~ 4'UJ ~J.,S ~ ~
().6
~~ Seller . . . . . .. . . . . . . . . . . . . . . . : ~'----"11
Seller's Bank Guarantee to the Buyer= 108% of Contract Value Signature ...................... : ~jill
Declining in Value
Buyer
ISSUER . . :~IJI ;111
Signature
ISSUER REFERENCE: . . :~I ~4....J6.)'I ~..J
DATE OF ISSUE . . ; )~'>' {::!..;l:i
BENEFICIARY . .. : t ;;;.U I
We (Name of issuing bank) . (..;' , 041\ Ll,JI r--!) ~ I
acknowledges the receipt of your
unconditional Letter of Credit No in
I I • • "j~.).
Y~r--~.fa
r-9..J.bJ~I ~I ~L..:ic.)
«,
.
I
the amount of US $........... (amount in t--4- .l~ ..,..-i . l
numbers and words) issued by , t4-J') ~-->'"I .;'i J.l ..
which has been placed in our Client's u- yL....Jl.J (u.J~'.J ~u)i4 J
depository trust account. We hereby ..,..J t ~_,.JI .J ' . I
agree to hold on deposit under safe . UJ+-.l ~L.W)'I ~l.l_,II yl....:i.
keeping number . J-jly yLh.;JI I~ "-:4>4! j:>..i.J
~ ~..)U:..j ~J j~J ~
............ ~~4 ~\j.J
1
1.

As per the terms of the contract between

·~ 0:!.J ~ ..iWI .lfa.l \.i,J...J__
you and our client, we further hereby 0--.....Al yl t,;. U I~ l...l3o. ~
_ji-----------------------------1
------i'iwPe'Vvnoci'liaoly, an unconditionally ~.J4t~)' ~'J ~
-~-<,:~ ..• 1
Guarantee the principle amount of your ~~IS"' t....Y1~1
~ •• 11.b .J..>-"
•
instrument in the event the instrument is •~ i..,.i.il,. 0.o .lL.....JI 011..J "'-b
hypothecated by our client.

This Guarantee of principle is subject to u.:oilLll ~ ~I ut.....;,JI I~ .J

the decline in value by the invoiced ~~~F-'~~
amount of each sugar delivery during the o.)._. ~ ~ ~ .fi- ~ JS
term of the contract. When the amount of ~4)'1 L.....,.iill t~ .lk..J . .liall
refined grade "A" sugar delivered to you, ..;w1 µ1 ~
(~JI ~..J.l)
totals -------- (Total value of contract), ········~~!~'·~!
this guarantee will be null and void and l.l.......A ~
, (.liall ~'II
•·I
.t...i!I)
•
r

~I~}~ JS..!..J ~ ~j_,...;-T' there will not be any further obligation ..:,,__s.; JJ ' ::U.~_, 4i;. 'i 0~1
Specimen Text and Format for Standby Letter of Credit on the part ofour Bank. ..,...;L.....,. ~ ._sy..l ..::...L.l>JI ~i .!JU.
·~
From : Name of Issuing Bank y..-11 ~Ii-'!: cJ-o
To: Designated bank/beneficiary account ~I yl.....:i../~1 ~I : _,.!) If the total delivery is less than the J-jl u...JI ~I ~4.1 ..:,LS I~) J
contractual quantity at the end of the ~ ~ .lit...:.11 f' ,_;JI ~I ..:,...
. ( . , - .I\ •'· '1) ~· ·
We, the Issuing Bank, hereby establish I .l.......A ~Y"! _,......- ~ contract period, the refund for the under ~_>-..;.JI J .J .j~ , .l.-.i.JI o.l.o ~\+i
y,-i:. Li.)1....:£) yl..l...i. u.;u yl.b.ll portion will be based on the value of the ~I
our unconditional, irrevocable and ~ L....iiJ ~ ~l.ri.JI
transferable Letter of Credit in favour of J.-..:i_,..:,.u JilillJ ~l.+l}IJ .l..Jµ1 contractual metric ton's price. ·l.S ji.JI .jhlJ ._s .lit...:.11
(beneficiary name) in the amount of . . ~~ '·~· ' (.c--•·.1~11 i-'·1) c--
-11. _,

US Dollars, available by your draft at ~Y"! u~ • ~.>"\ _;'Jy Your first written demand to us for a u-1L.:.s ~ JJi ~ .ll.l.. ~ J
sight on Issuing Bank in the amount of ~I) 0--" yllJI .llc. ~ "JI~ valid claim by you against this ~U... ~I (.)">~ - UJ p.....

(amount in figures and words) US UJ~l....i~l)~(y.-11 Guarantee, authenticated by your Bank, 1.:i........ c..l"L....I u--k. ,..._s.:... ~
. ..A!->'"I _;'Jy (rli.J'i'J payable by our Bank for such a vaJid and ~ c.J---o lt-:1Jc. w.-.. 0~1
Dollars.
authenticated claim shall be made to your .:i.._. ~ LF ~ ..:,... t"JI ~I JJ
Said draft may be drawn and negotiated • .J_,_si.11 UI _,..JI ~ j~J designated Bank within Bank days - 4,Jc J~I J 4--JI ~Lh.JI
on, but not before the maturity date of J.-.,ii ~ ~J' ~~ u"-JWl1J by wire transfer of the funds claimed. ~ r-¥4 0----- ~I ~I -)!
....... .JltJ t3~'>' t:;vu ~ r.r'"" .J J..c. r .JJ • • • • • • u_,.:,:.t.
Jl_,_.')u ..,.iy,..JI J-:~1 ~_).
This Letter of Credit is divisible, 1.:i........ JL-.':J&.)11 yl..l...i. ~~ ~J . ~_,lh.JI
transferable and assignable without 0~ <I.-£ Jj~IJ ~ Ji,;_,
presentation to us or payment of and J_...1;J r _,_..,. .J i..S I ~ _,I l.i.,il) ~ Kindly acknowledge your receipt, and 0l......;.JI I» ~4 JJS"jl ~~Y.
transfer fee. ·~' acceptance of the terms and conditions of ~_,:;,..u._,~_, • .i~J_,.._..,.;J
this Gu~ee by, igning.,-dating0an ~63CCI.J ~ ,.) 1.:i J.;".;
-· J
The draft drawn under this credit.mus ~I~!!~~· .. ~ returning to us the attached duplicate . ll:!J! yUu.11 I~ ,;,,u__;JI
bear on its face the clause " drawn under l+-+?-J ~ Jl....:£)111:i. ~Y"! hereof.
name of Issuing Bank, Letter of Credit r--'"'I ) c>- ~_,_... • o.J4&- ~t...~I
number " and dated. r--1.J JL-.':J&.! ~ , y.-11 ~I - Bank Seal ~IF-
. ~.).;.. .:.;fo_, • ··· · · ·· - Authorised Signatures of Two Bank o- ~'J o~I ..::..~_,:.JI -
Officers .tli,JI ~_,...
We herein agree with you, the drawer, ' yl..b:>..ll 1:i. ..) ' ,.s..... ~ ~J
endorser and bona fide holders that all ~~JS_, ~J ..,..,..u1 f::AJ Buyer's 1st. Bank officer i.S~I ~ JJ'il J_,;.....ll
drafts drawn and presented under and in J u--1c- ~l u).S ~' 1:i. Title: . . :¥)1
compliance with the terms of this letter ~.li.o.ll J ~P •• n 1.:.iYI _,.JI JS

of credit will be duly honoured by us IL....A JL-.':J&.)11 ~ ~ Buyer's 2nd. Bank officer 1.5~1 ~ u-iWI J_,;.....}1
upon presentation. a..lc. I+! r'.71' ~ •.lfa. ~ Y"!J Title: . . :¥)1
.~ .).,. ~ ~ ~ _,.,..
f

~. ~ . ~-t
PERFORMANCE BOND
This credit is subject to the "Uniform
Dear Sirs. Customs and Practice for Documentary
Credits".
You have concluded on with t--' ~.)~ ,:......>!i .ill
Messrs. .. Contract No , for the ~..;~l o.l~I Dank Seal:
delviery of at a price of . ~········-~• . Authorised Bank officer :~1~
As security for the due performance of c J> all ~ uL....:oS.J • .. ..••. :~I .» ~I J_,;......JI
Title:···································· . :¥_,JI
the delivery, an indemnity by a prime .J---o LJA--:!~ ~ fJJ 'µ1 141
bank shall be furnished. ··A.;~
At the request of Messrs We, the • o.lL...JI ..,...U. .)c. ~~J
............... hereby irrevocably undertake to 1.:i..._. ~_,...,. ~ j.>o.i
pay you on first demand, irrespective of r--S) ~-h; ,).~ ~t.,.; JS..!.! yUu.11
the validity and the effects of the above- .:.F- .).ull i....i...>--! , ~ JJI .llc.
mentioned contract and waiving all rights .::L.c.l .;_,.._si.ll .li..ll _;l,jiJ ~
of objection and defense arising from -.>al~'ll <.i.,h JS .:.F- Jjt.;:;JIJ
said contract, any amount up to ...... upon • .;_,__si.ll .li..ll uc- ~\..lll t l.hll_, I
receipt of your written duly signed ~I .l.......:i...! F. <.SI I
request for payment and your written
confirmation that Messrs.
have failed to deliver the ordered
merchandise or not delivered such
merchandise as specified in the above
t--i.JA ~tr.US
µu
...-J
l+-!11>,.:.
L..........J m_,
.;_,iJ

.;JI ~~I~
, ~
ylb ~I
~
ii.ll...JI

~~I • 1J:·':·:_J
.l.. r3~J:1
..;_,i
\..,ii_,:;
u4 t.r.~I
1_,...~
.l-----------------------------------1-
I
------"m,£DtionecLcontr.ac~-- --- --- . .-~1-..iWt ;:;l _,,.

For the purpose of identification, your ~ ~ uJ.i' -Uil.k..JI lfafa.J

request for payment and your ~· .li..ll 1.l..~~· µbJ
confirmation hereunder have to be ~ ~ _, J:!.>1> uc- 4l! ~ ul
presented to us through the intermediary ut..,i:i_,:;JI ul .lS~ ..)}JI 4_;.l!I j.o
of a first rate bank confirming that the . ~~ .l.jL. ~ .;JI
signatures thereon are binding for your
firm.

Our indemnity is valid until . . .•.••••. ~ <.S..;'- ~ Jl;.,iJ

 .S).~1 ~I ~ : ._,;UJ1 ~I
>'i ~j_,...; -o
.-.1~ '' .
PURCHASE ORDER And exp_ires in full and automatically if
your ~Jtten request for payment and ~ ~I.:.. ~ ~lit_, L.W ....+illJ
~~ 1.l_!Sl;_, ti.l!J ~ ~~ 4Lb
ABC Company tJ"" ~ 'Y) '..s~ your wrnten confinnation together with a
~rst rate ban~'s confinnation of your ~.;.ill ~ ~ ~ .l_!S{.; t-- ~
Purchase Order .-.1~.>'i
signatures are m our possession on or _,I ~.JL:JI 1.ia ~ ~~jJ ..)}JI
before that date. . .J,.i
To : DATE: I I I I ~.)tJi . . . . . .. . . . . . . . . . . : ..)!
Ref: . ......................... : ~L:..)'1 ~.)
This indemnity is governed by Swiss
.;_,;Lill u4--:/_,..:;.ll l.i-..4 ~J
Law; place of jurisdiction is Genva.
Please supply the following services .JU.! ~ 4...[JYI ..::..L.~I .iuy '"~.J ........~'/I .Jl_S.. J I l..S->'"':!_,..JI
within the schedule and cost frame as . oL....iJI ~_,.JI ~I_, ~Li..)lll . ~ _,. ._,.jl...4ill
listed below. A copy of your final ).,__.,,'JI ;_fa..P 04 • .)~ Ji.. >-< J Yours very truly,
quotation is attached for reference and "L-! .l~~ ~ i".li.JI ~4Jll ··························· ~I
verification of projected costs for this I~ s _;.li.JI '-':!]LS.::JI 04 ~I_, ···················
project. The purchase order covers those Ii....\ .. 1_;-:.i1 .><I.~_,. t_,µ1
items listed on your quotation as well as rS.J'"'-.......1 c.fa>..P ~ o.l))I .lfa.ll
those items listed below: : oli.ll o.l )_,JI .l_,.i.,JI ..ill.lSJ

We accept your final quotation of$ . ~~I rS.Jl......l c.fa>_p J,ii; Lr>..i _,
per widget for delivery of one thousand ......... J.__Sl Ji _,.l F.
widgets to be delivered within thirty (30)
0_,_..:,..&:.~ Uli~
days of the date listed above. Freight
cost to be paid by you. ~.JLl.11 j.......A ~>.! (r.) ~
~ H -:ii is1c. .)lei J,S.WI
. ALI~ 04 ~I U;l\S:i
~~~~-1-~~~~~~~~~~~~~~~~~~~~~~~~~~1.._
THIS ORDER constitutes a contract and L..l.. ~_,&:;_,I.lie. .><YI I~ ~-'
our authorization for you to commence ~I t_,_µ1 cs5 J-jl <-.¥ rSJ
work on the above project, subject to o.l)~I ..b_,~I olc.l.>< t-- o:::k.l
conditions listed below which hereby .><YI I~ ~-'41 ~.;>JI_, ol.i.il
become a part of this contract. ( It also IL....\ ~_,) . .li...11 I~ 04 1 .. ~
recognizes acceptance of quotations i.faJ~ J>.>ii IJ.fi! ~I .><YI
submitted by you on the items attached U""~ ~ .<....iwi ).A... YI
and listed above within the limits of our ~.)lei ~_,.JI_, ~_;JI .i_,J.,ill
conditions of contract and your specified ..w....11 ~~I W:._,y:. .lJ-l:>.
terms of delivery). .(µ.~ ..>- o~I ~I ..b_,y:o_,
 ..S;4-:>Ji ~I .W. : _)WI J....ill \ \ 'I'

I
~~~~[j_,....;-'I Payment shall be made for the work ~I J.-.-,11 LJ--c. c::i.lll ~ J
u...
F- • I\
(..r.
u.... (.)'"
F- • _,Ir.:~
u- .. ..r-
. _, (.)'" ~<L~~
. completed, delivered to and accepted by y ~y!. .).- J~I_, .)) ~I_,
Bill of Lading ABC Company at each stage, and no ($ i ~ .) J ' A.b. ..)A J$ ~ er" ..r.
for Combined Transport Shipment or
Port-to-Port Shipment
other form of partial payment or advance
payment shall be made without prior
_,i ~ j.;JI wt.:. _,;.l...11 04 _p.J ~ I
I
._r.~ .it...:lc) ..JJ.l.! ~I wW'.lll

Shipper : . ...............
.............
: ~I
: ~I ~Y.
~y!. !"""')
written authorization by ABC Company. . tr' ..r. ~ ;.s y!. 04 ~
iI
BIL No.: . ~.J If a delay occurs for reasons under the ._,.,~y ~L.....Jw.JA~~J I
Reference: . . .. : : ~h)'I ~.J control of the Supplier and if the rJ 1.:i)_,, .i~.u-......!1 •fa:...!~
specified completion dates are not met, J.___.-J1 .. 4-J) ¥-'.JAi .ij_,.JI rfo. J
Consignee or Order: ............ : oy'J _,\ ~! J...J..11 or are not likely to be met by any ·0---- .!11.i ~ ~! _,i , •.u.....11
supplier of services, then this contract 1.:i. ~, w~ .i.J_,.. 01 ~
Notify: .n , )lbL... ~
shall be void, unless written notice of .JL..l:..;.i• .. I.be.I• ~• r-
Party/Address new, specified dates is given to and y ~~ .)! ·~ ·~ ¥1-'41
It is agreed no responsibility shall attach accepted by ABC Company, and unless ~ _, • l+--l ~~ ufo er- ..r.
to the Carrier or his Agent for failure to there is issued a new Purchase Order J.__.,.... ~ ~ .. 1 y!. yl ~
notify. which replaces the original Purchase . .)-.aYI .. 1 y!..11 yl
Order.
Place of Receipt: : ~'JI utS...
(Applicable only when this document is ~I ~ l....llc .hi; ~) Final acceptance of all work and ~ ~4---JI J_,,.ill ~ j;..... ~ J
used as a Combined Transport Bill of . ( ~_;,. Ji; ~ ~ Y. .u....,.Y. materials rests with ABC Company, ~ ~ '-Sy!. i)c .ii _,.JI_, J-l)
Lading). which retains the right at all times to ~ ~ ~41..fu.:; ~I er"
Ocean Vessel . ........... :~oY.Wl~I secure mutually acceptable _,1~ .. 1~!~wu}J1
Port of Loading, . . : ; ~1 ..4-- modifications or changes to or to reject ~I ~ l~~-----ft
ljl!~I ltl,ti,i!~w;.J·
Port of Discharge: . .......... .' ; &fall <-4-o work and materials w.hich,ie .its-epinio , <:;=--5 . ... 7:i;, .ii _,.JIJ
does not meet the standards of good and t+--;I 0 y ~I .ll _,.JI_, J-jl u:a.s.J
~~~~~'.lace-ot:Delivery-.~~~- reasonably workmanlike quality. ·~1 •.i .»11 ->=!L...J ~ ..>#-
(Applicable only when this document is . J_,k.. ~ ~l.i....JI o.l-""J
used as a Combined Transport Bill of
Lading). Signed: : t:i_;JI
Authorized Supplier : . . . . . . . . . . . . . . . . . . : ~I .i.;_,.JI
Marks and Nos: . ............... : i'u.J'JIJ .:.~I Department Manager: . . . . . . . . . . . . . . . . . ... ; • ).i'jl Y-.l.o
Container Nos: . ............... . <.:J4_,l.:JI i''U.)
Number and Kind of Packages: . : wl~I f:YJ ~
Description of Goods: ·············· . ~W:..,JI ......&...o_,
Gross Weight (kg) . .... . .. .. . .. . . = (~) ~u uJ_,ll
Measurement (cbm) •• • •• • •• . . . •• . •• • U"::!:!ti.JI
 .<
'-"J •
l>..:i.JI (.."""
~I ~• ··Is'"WI v--
I -'11

Charge ~,. YI" i/ ('.l.iill ABOVE PARTICULARS AS wL..i~l ~ .~i o.JfiiJI wl.il:,JI
• Ocean Freight ~I ye. ~I o y,.I • DECLARED BY SHIPPER . ~WJI 04 ~.li.JI
• Destination Terminal ~~~~l~_,u...
Handling/Service Charge ~I o y,.I/ J_,,-_,JI Total No. of Containers/Packages ~I ..::...l~lj..:.4_,WI .l.lC ~4)
• Destination Inland Haulage ~ wl .J4-J4 .s _>.JI
Ji.ill oy,.I • received by the Carrier: . . . . . . . . . . . . . . . . : Jillll l+-J..U
Charge J_,,-_,JI ~
RECEIVED by the Carrier from the ~ ~WJI 04 µ .u4 J.iWI ~
Freight payable at: .. ·· : ~ t;'~ ~I oy,.I Shipper in apparent good order and e-lL.) 4.JAl.l.:. * ~,.;_, "*~6.
condition (unless otherwise noted oU~~~w~I)~
Place and Date ofissue: . . . . . . . . . . . . : f:i .•- '/I ~_;l:J _, ul.S... herein) the total number or quantity of ~_,I~ ~4) (~_,,.II
Containers or other packages or units wl ~I 04 ~ J¥;. _,l w4.JWI
Number of Original Bills of ~~ ()....-~\rt ~I .l.lC. indicated in the box entitled "Total No. u-=JI ~WI ~~I wlh_,JI _,l
Lading: . ......................... :~! Of Containers/Packages received by the .l~ u-lL...;..!" ,jl~ ~
Carrier" for Carriage subject to all the 'J!llll 1+-J..U u=>]t ..:..1~1/..:..4_,w1
IN WITNESS OF THE CONTRACT terms hereof (INCLUDING THE .:.i.._____. .lfa. JS o~lyo t--' ~
=~44H TERMS OF THE CARRIER'S .i_,__..;.,JI ~:i u---i ~)~_,,JI
For Carrier LS-ll l&-! J_,.......ll wli:!..;.::.14 ~WI
J,illll 01!- APPLICABLE TARIFF) from the place
( signature )
(~_;JI ) of Delivery, whichever is applicable. ..::.uL.S ci- , ~u .. 1...·.11 · 1.S... cJA
· ( u>1:lll1
• ,\ ...-. : ··'-'11 ....,,,,, .l ,,,1,
One original Bill of Lading must be ~~J. ~ ,, J Y-1"
surrendered, duly endorsed, in exchange ~Y. 0---A ~i ohl_, ~
for the Goods. In accepting this Bill of _,._..,...; ~ ~ ~' ~I
Lading, the Merchant expressly accepts J~J . .i..c.~I Jili... ~ ~
and agrees to all its terms and conditions .LI y,.Ull ufa 01\ ~I~-"'
whether printed, stamped or written or .i>-1!11 JS~ ~I_,_, ~I...>'-"' Jii
otherwise incorporated, notwithstanding L..c.~ u.;L....$ ~I_,_...... .1._,_,..!JI_,
the non-signing of this Bill of Lading by ~4 4y.. _,l ~fo... _,l ~_,ii...._,l
the Merchant. ~ .):.ill ~ ' ~ J¥:. .i.i._):.
-~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~-4~~~~~~~~~~~~~~~~~~u--.,_,._.,n2~~~Jr~:r~,.,._~~~~ .....
. y,.WI y;4"

Movement: . ························: 1,$~1

Freight and Charges (Indicate whether l:i) L... _,s:il) e-_,..)1_, ~I oy.o.l
prepaid or collect): ._,..~_,I ~ ~_,s.i... u.;\S
:(~
• Origin Inland Haulage Charge ~ wl _;t,....l4 '-'_>.JI Ji.ill o y,.I •
.i..c.~I Ll.l.
•Origin Terminal Handling/Service ~ ~ "--'=-~1 .tl_,U.. •

\
 .SJ G.:iJI
. ~I
c.:~ .;.i&.
. cs'•liJI ....,........
· I _,,,

Vietnam, Cuba, Kampuchea & Nicaragua ~.,,...SJ~.,!>_, i'LU:!-' 9k.!..ll BIL No: 1
unless otherwise authorized by the .J.l.4,! ~L.. 1.P.'.J~J i:i...c:uJ
.. g..,.. • V
.tl_lj~
United States." .• ~1 ...::..t./j_,ll 04 ~_;.
J IIii""'"~
.:. · r,

GRAIN BILL OF LADING

US COMMODITY SCHEDULE (B) "y' ~..rYI e;LJI ......;..;.s
NO.: . SHIPPED, in apparent good order and 0--:!~ ~JJ .4..16. u-.9 ~
' . '." : t5_) condition, by on board the u.-:... ~
~1-'1 y_)'\Ll:.
good ship or motor vessel called the . o~I ~I ~I Ji o~I o~4JI
All other terms, conditions, and .1.J~l .J .l.J---l:JI J._....S ~ now lying in the port of and _,_....,. y _;JI_, •
exceptions as per Charter Party dated .l...-.:ic ~ o.l)_,_JI wlc.l.W.........)'1_, 1""'4 ~_,~I
bound for .
............ , Washington and addenda thereto ........... C.J~I U:._)L........:...ll .... ._..l! ~l.J c.4-- u-.9 i:_;'jl
to be considered as fully incorporated
J..L.S.14 4.-.l.o ~ -.ii yJI ~)WI .J
herein as if fully written. :A..:Jt:lll~~I
~_¢... ...::..ULS _,I ~ ~_,,Ji • .:i. u-i VIZ:

. • ~ J,.LS.14
............ MT bulk wheat ...,_.jl..... e-..9 c.s fa ul:. .....
I. This Bill of Lading shall have effect t-", • .:i. ~I~>! c..S~ -\ Being marked and numbered as herein, ~_,.JI i'\j)il_, ..::..~ o_»....
subject to the provisions of the ~..rYI u_,_ilill i'LS:..I •Lei..>" and to be delivered in like good order and ~ y_,lh.11_, ~_,,JI • .:i. u-i
Carriage of Goods by Sea Act of the J.....:i.;b ~ ~w.,.11 Ji; 0~ condition at the aforesaid Port of . ...--J ~t...... ~ ~.JJ .4..16. u-.9
United States approved April I 6, I 936 J.....:i..>!! \ i ~ .l.....-.U...JI ~I (the dangers of the seas only excepted), r-4 ) .::i..c.l .;fii..11 ~4--
which shall be deemed to be l.i...;.,... y.,y c..Sill.J ''In
~ unto or to his or their Assigns, he ~. 11 ( ..b_ii ~I
_)._) Lb.I ~I .
~<.Si y.,y 'i.J, ~_,,JI • .:i.
incorporated herein, and nothing or they paying freight for the said goods J J..__u,...:ic
.._~,J Y~!J"J.. I .
~_,,JI • .:i. u-.9 ~ <..>.:>~
herein contained shall be deemed a at the rate of . ~w.,.11 ~ r.~I u~
surrender by the Carner of any of its
<.Si ~ JSLi.li ...,_,.;4- 04 'i jl.:;, ........... »-« o .J_,s.i.JI
~I 1.::..L_;l...a.:i..l1 .Ji ...s_,;..,.. 04
rights or immunities or an increase of
c.SI u-i o.lyj ~.JI , l+1 ~
any of its responsibilities or liabilities QUANTITY, DESCRIPTION AND
~~ ~L..l]ilJ JI ~4lfo.... 04
under said Act. If any term of this Bill STOWAGE
of Lading be repugnant to said Act to
Ub. ~-' ·.J_,__.s.iJI u_,_ilill Quantity: . .............................. :~!
..,...-------cany-extenr,-srrctrre~lmtt"5e"VOfd-,o:::-·'.t---1-
,_>1_.l,...~
..........,04,.........,.w..,..· -----+----~·lowea : o!O os , .. , , .. , ..
.-c..S-t-<.>.:>-.-.J"""w"'"·
. ' .. • ~ .J c):!y.:;}I yLc. : ()!~I
that extent but no further. .J_,_..s.iJI u_,.ilill t"" .:i. ~I Notify : : ........... : t..Jl.b.) y_,lh.11 ~I
::u.~ .l.i./-11 1.tll:i fa ' _).li c..S4
. o.lyj i.J.J.l .J.illl 11' )~
Loaded On Board, at the port .. ~ ~I ,JM .)c. J:.-j.11 f'
2. Each Bill of Lading covering the hold ~~~>!JS J.wj -"I' of , State of , Clean On i'_,_....)1 ~ ~'i>! .
or holds enumerated herein to bear its 01' u-i o.J..,Si..ll yl.Wl _,i ~I Board .~I~~
proportion of shortage and/or damage j....+...ll U- ~~_,,JI On: . . " . . .. . . . . . . . . . . . . . . : t;>..;°U!
if any incurred. Ub. ~ ~ yi .Ji <.....Ll:ill.J
. i.ill.:i 04 <.Si w .J.l.:i..
" United States law prohibits disposition •~I ~'i_,ll 0_,L..i ~
of these commodities to North Korea, l...:i.Jfi t,)) ~I • .:i. u-.9 u_,.-ill
 ..S L>.:iJI di .WO · I _:11
.J. L= ·IS'"~I v-- \'A

required by Master or Agents. 3. Shipper's weight, quantity and quality •~I o.l~l.J ~1.J uj_,11 -r
unknown. -~.J..>--- y,t. ~WJI 0-
If the owner shall have exercised due ~I ..,..,..L.....a Ji...., AJ6. ~J
diligence to make the Steamer in all 0---o ~I ~ '-:-1-?-1_,11 ~I
respects seaworthy and to have her , .J~ ~l....:i ._r.ly.ll ~ 4. It is also mutually agreed that the ~~I~ J.--.iWI 0- -£
properly manned, equipped and , ~I.WI ~L.hl4 LA~.JY.J Carrier shall not be liable for loss or JJi..-.-.o y,t. Jillll J ul_,.bYI
supplied, it is hereby agreed that in ~ _p.j ~ IA.ll.i..).J IA~.J damage occasioned by causes beyond ~ U-L .JI •.JI-:. ..sl .:.F
case of danger, damage or disaster, .i....A '-:-1-?-.JA-! ~ ~1..:.,.. ,J9, his control, by the perils of the seas or •..):.:... <Jl.h; ~.J~ ~Y ~
resulting from faults or errors in ~ wJ.b. AJ6. ~ ~i ~~1 other waters, by fire from any cause JI .J~I _,.bt.M .. 1y.. o- Ji\.lll
navigation or in the management of .Ji ~• 1 ·1· ~ · •· ·•...:i.J~''" .J·1 .J..)>A .JI· wheresoever occurring, by barratry of ~-~""JI• ....,...,- d ..;.y1 .L..J
<J.,-
.. 1
the steamer, or from any latent defect o).l) ~.JI ~1 ~ ~ the master or crew, by enemies, Jt-! JI• wL-S t,il ~ ..sY
in the steamer, her machinery or ~ ~ '-:--':!"- _,'j ~Ji ~1 pirates or robbers, by arrests and .JI • rJL...bll.Jl wli)I u-o ..i.....:w
appurtenances, or from unseaworthiness ~lhl.. ~ Ji ~Yi ~ JI ~1 restraint of princes, rulers or people, .JI ~I.) .JI .. 1~1 .. ly.. u--
whether existing at the time of .J~ ~ rl&l ~.JI, by explosion. bursting of boilers, u---1c ~I)• u-o_,__.l
shipment or at the beginning of the ..:..._jJ 1.lfe_,.. ~1 l1' ulS .. i_,... breakage of shafts or any latent defect .ll~I JI I"~ .JI .1..>'I j~l.J I,
voyage (provided the latent defect or .l.~) '-b._}I -'-:1.l! ~ Ji ~1
the unseaworthiness was not wL...!US! ~I J#:. 0-- ..Jfo. wi
in hull, machinery or appurtenance, by w_,i....:. .. 1..>--'!' 0-- .JI • 0;!,!.llc.
collision, stranding or other accidents _,I ~I .Jt;..a;! _,I ..:.I~ I
discoverable by the exercise of due ~I ~ .Ji ~1 ~1 of navigation of whatsoever kind ~ _,I .JI • ..:..L....li.}I ~
diligence), the consignees or owners ~.... 11 ~1· .. (.~--!..)-
· .L ,:,F .)~, "' (even when occasioned by the ) .l;ii .. 11 I~ __t. ~-
• <.T""""""" __b.

Of the cargo shall, nevertheless pay _,i ~)~.;.JI~, ('-:-'-?-jj1 negligence, default or error in 0--" .JI• ..:..thl.JI .JI ..:.up.WI
salvage, and any special charges 0---o ~)I~ ~1 ...,..~i judgment, of the pilot, master, ~I .JI c~) ~ .. 1y..
incurred in respect of the cargo, and L.....:il.J :iLi.i)'I~.JL..a.. ..!L.Jj mariners, or other servants of the ship 1..510--61..5~1 ~ W.ll~
shall contribute with the ship owner in LA~ M <L.......~ u,....J~ owner, nor. resulting, however, in any ~ u;L.S _,_J.J ~) t.Jl
General Average to the payment of ~ 1_,....t....,u, ~1 va~ case, from want of due diligence by ~ L-b .JI~ .JI Jv.A'I
any sacrifices, losses or expenses of a ~WI ..:..l,i)_,...11 .). ~1 ~ the owners of the ship or any of them, uli)I .JI c::LJI y4 0- _&i:ill
General Average nature th:a:_t,.:m::ay~be~~J:.,I
~.)~'::·:;:·;~.JI..µ~':!":!·~~=:td.~·~---i-:;:----o.t....-hf hip!s--Husban··"-....-..,.,....-r
' __;:.-;:;;:'t1~ •.J.,;:.:,.-.------'
------'!.LW=- or-inGUFr.ed Orth ommon ~ I ..:..l,i)_,...11 t.Jl 0- ~.J~ Manager). YI ~ ~I ~L....l ~~I
benefit, or to relieve the adventure !"WI ~ ~ .JI ~ ~ .li 0-- J6. c,;I ~ ..:....iJ -» ufo
from any common peril, all with the , i"tc. _;b 01 ~I~ _,I, ~ ~ r.lAl ~ Jl~YI
same force and effect, and to the same ~.J , _;,';1 s jlilJI ~ i!lli JS ~I ylL...:i. !,)-A '-:-'-?-' _,!l
extent, as if such danger, damage or ) __r--1...;JI IL-A ulS _,i t..s yill ~ 0- .JI ~ _,I .JI ~I
disaster had not resulted from, or been Ji 0---C- ~ .J ~.Jtsll .JI .Jy.;.JI . (IA~· JI ~I
occasioned by faults or errors in ~ ~ .JI .. Lb.I ............. W.i:.J 5. General Average shall be payable
navigation or in the management of _,i _,I ~I o).l) ~·~I ~I according to the York/Antwerp Rules,
the vessel, or any latent defect or r- · ,_, ~... .Ji ~I.. · ··
~..r"''-:-':!"- 1974; Average Bond with values
unseaworthiness. ·.)~~
declared therein to be signed, also
sufficient security to be given as
 =~~I.hi. ~?fi ~J~I ~ -v
c L>.:i.JI
·'-') . di ~
(..~ ·. <.S'"WI v--
I -''I
'". I
7. Both to Blame Collision Clause: 1 f the
liability for any collision in which the ..si ~~_,;.......JI~~ _;i..:. b)
6. New Jason Clause : Where the J_._.c ~~ .) : ~~ ~ _,
vessel is involved while performing this ~I w.l~ l'..ll...4i ..:,..l~ '1
.:.i.._. ~I~>! .l.!ili ~t..UI adjustment is made in accordance with w .r---JI J L,JyL..ill ~ ~_,..::.JI
bill of lading fails to be determined in
the law and practice of the United ;..i:.:..JI w4'i _,JI .) ~ J_,......JI '
accordance with the laws of the United ;.~I wL ...../~ _,JI j:.il_,il ~ '
States of America, the following U~ ~ " : u1t:.ll .l.l,JI l.S ~
States of America, the following clause
shall apply:
: ~l::JI .l.l,JI 1..5~ ·~yYI
clause shall apply:- "In the event of ) _;Y:.:, JI .fa.:. Ji wJ~ t _,iJ I
accident, danger, damage or disaster ~)I ~~ ~ Jj ~ ~_;lS
"If the ship comes into collision with (::--" l'J\.....o:lll ~I ...:.....o_yU lj)'
before or after the commencement of ~I_,_.. ..JL...5. 4i ~ ..s'J ~ l'l
another ship as a result of the ~I .J.,.A'I ~ ..sfti ~
negligence of the other ship and any JL.....A.) JI w~ ..slJi ..s.?-YI the voyage, resulting from any cause ~ i-lJ, 'i rl Jt.,.\';I ~ I
act, neglect or default of the Master, JI _;~I Ji ..:;4.)1 ..).o ~ Ji whatsoever, whether due to • ~I j...-&- Ji ~ 'iy....,. Jil:.ll
mariner, pilot or the servants of the JiLill ..il*-!l::JI ~WI Ji c::LJI negligence or not, for which, or for the , ~JI .lie Jie;:i~~

Carrier in the navigation or in the • ~I •).i) JI L.....o.::L.) consequence of which, the carrier is ~L-...!. JI ~~I r-t-L.,....j
not responsible, by statute, contract or t-'·~I. I"""'· -··'I J.....r'.. 11 J I ~L..:....ll.
management of the ship, the owners of ~fa.JI ~~I y~I U:..~
the goods carried hereunder will ~ Jili.ll ~_,,JI .:i. ~-"4! otherwise, the goods, shippers, .) Jili.ll ~ t'~I ..,_.i.--1 JI

indemnify the Carrier against all loss ~I •4"'.> lJ.11 Ji s _;~ ~i consignees or owners of the goods !'.JU.... ~j ~ ..._.WI ..:..4) _,.JI
or liability to the other or non-carrying JI LI!Li.ll .;#-~I ) ..sftYI shall contribute with the carrier in t_,........; 0" ~_;t...<... JI yt....:i. )
ship or her owners insofar as such loss .~ ~L. ~ l.+--l~i general average to the payment of any JI ~ f'= .ii .....w1 ..:..4) _,.JI
or liability represent loss of, or 0---4 l'j:i.l)'I
•_;L.......;. Ji •)- •••~I sacrifices, losses or expenses of a t---5.l ~ ~jSJ. ~
damage to, or any claim whatsoever of JI o_;_,_..s..Lll ~~I ..,..~'; general average nature that may be ~_;L.....o.JIJjL...ii'll ~_;I....:...
or incurred, and shall pay L-...A~ M ~IL-WI
the owners of the said goods, paid or
payable by the other or non-carrying
Lr-- Wlh.. L..,ii Ji ~ _;Y:,:.
L,.;.IJ i.Jfo JI l+--il f'= ~4-
made
salvage and special charges incurred . .i.t.~I L>"'~ I
ship or her owners to the owners of
the said goods and set off, recouped or
recovered by the other or non-carrying
ship or her owners as part of their
Ji .L.....lili.ll .;#-~I
~~I
,.......,LI.. ~
y~l
J;...l.'.i JI • _;µ1
u.- ~I
u1! ~~I
wJ_;...........I JI ..:...........hi ~1_,........J
in respect of the goods.

" If a salving ship is owned or :il......i.i'll J-....1..5.l:>.] ..:.;LS 1.'.llJ •

operated by the carrier, salvage shall • 4-....1>1 ).l.'.i JI Jilill l.S_,l....
be paid for as fully as if the said L..S J..~ jU;';i ~_;I....:... ~
I
claim against the carrying ship or _»-i:. ~I JI ..sftYI ~I
~~~~~~~---::C~a~m~·-er~"~."--~~~~.. . . . : __;:::..._.........::~~-;:;::::;:ITT~~.l.............~~ sa vmg s p or s ps elonge'tl~l=il'1t-rfi .,, }·~~·1-'ic-.t-------if- ·
.Wli.ll ~I .i...;.. ~lh.. ~ strangers. Such deposit as the carrier • ~J • ~4...F ~ •_;_,s..i..JI
.'Jili.ll JI or his agents may deem sufficient to •~~I u.- • .JA'JI ~) 1:i)
cover the estimated contribution of the ~! J,..........._,.JI JI ~~I JI
8. Charterers to have the liberty of
1.;.t<·.~1
~ - l.S..»
t......,. ~• V4
·-A goods and any salvage and special ~! ~~I ..,..~I JI ~~I
ordering vessel to discharge at a i.s---"' JA ) ~.) .) &fo. charges thereon shall, if required, be 1..5i...ll L»ohll - ~ ~ Ji\.:.ll
second wharf or berth if required, cost ufoJ. ~ y~I yll..J 1:i) ul.j made by the goods, shippers, ~ l,/ilS ~J JI Jili.ll oly,
of shifting including fuel used to be ~ ~ L..i ~11.l. ~ consignees or owners of the goods to ~ ~ f'= .;JI ~t......11
for Charterers' account and time y~ ~~I .i_,i_,11 the carrier before delivery." ~_;L...a.. ,,.ll__J.lSp ~~I
w.....J_,11 ~J •·i.:»..»h....JI ~WI ..:.L..JJ~IJ jU;~I
occupied in shifting to count.
.~11.l..)~I .·~~I
 ..S)-~;Ji ~I .W: : .;'l!JI J..ai.ll \ yy

stoppages, destination, delivery or LA.JJJi ~I uJl_,..11 Ji ).~'/I

otherwise howsoever given by the Ji ' I.A_,...._... .. ~i . :. .wjill Ji 9. All terms, conditions and provisions of ('LS...:...IJ ..6J~J Jfa. JS '5__,..:, -'I
Government of the Nation under Ji ~I Ji I.A~ _;JI ~I the Strike, Lighterage Clause No. 26 Ji;J ~1~'/4 ~I (Y1) ~
whose flag the vessel sails or any ..:...~jillJ yalJYI U.- ~.:i y,i:- and Arbitration Clause of the .jL......11 0----4 J..i~4 ~~I
0---4 ~! .;~ ~I ..:.UIS yi .. Centrecon'' charter-party to apply. .L..ic ~~I ~J ' ~!J
department thereof, or any person
~I y..fJ ~I ~J..i.11 .J....fa.. . • .Jfo.fo.. • u,, .Ji..:...
acting or purporting to act with the
authority of such Government or of 4-J~w•)..i! ~\} ~ ~
w~~lSi 0---4 Ji 10. Vessel to have the privilege of ..i_,i_,l4 JJ_;JI ~~I~ -I,
any department thereof, or by any
committee or person having, under the 0--- ~fa ~ ~ Ji c.f<>:!fo. bunkering en route for this and Ji Lb. .)1 o-4) ~I_,... I.A_;:... .. ~I

terms of the War Risks Insurance on >)..i! ~\ l.>---< Ji .J......,hll .» subsequent voyage. . W:b..) (.)A ~L.
the ship, the right to give such orders JI ~~I u.-}, l+J~w
or direction and by reason of and in "~\ Y'?"~ ..u ufo. ~
WAR RISK CLAUSE: ~ y_p.JI ~ ~
compliance with any such orders or ~ I. "No Bills of Lading to be signed for t.SY ~
yy.JI .).\..:....
..i...A ~hll ~IY. ~I e:'.J>'J -\
oL..lo .. Lk) ~~I ~I
directions anything is done or is not any blockaded port and if the port of l.J)L.c.! ~h ~ J , ~6... .. ll:!-o
Uh ~ J , ..:...t+:P.- jill J yal J'JI
done the same shall not be deemed a discharge be declared blockaded after H.fJ .A.! &.fall <-ll:!-o •~6...
~ ts..!. (5\ J..c. ('..le- Ji J..c.
deviation and delivery to accordance Bills of Lading have been signed, or if ..JL..S l.J) JI, ~I ~IY.
JI ..>-"l}JI • .:i. o- t.S'i wk..J)J the port to which the ship has been .;t-A1J';1 :uµ1 Wit (Sill .. ll.i...ll
with such orders or directions shall be
L......,..Jft ~ fa'J ..:...t+:P.-jill
a fulfillment of the contract voyage ordered to discharge either on signing ~IY. H.fJ ~~&fall
(Si..Jl~lfaJ'
and the freight shall be payable ..ii..ll_,.lc Bills of Lading or thereafter be one to ~1_,.JI u.- ~.:i .A.! JI ~I
..:...t+:P.-jillJ _,.1J';1 .~ ~ ~ which the ship is or shall be Ji 4-----J! ~I J_p....i .;.,.i:u...JI
accordingly.
04~1 ~)l ~ ~~ prohibited from going by the A.h......lY. ~! l+J_p....i ~~I
·~\~..i::.J,.li...11~~ Government of the Nation under ~I y..iJ ~I ~J..i.11 J...._,s..,..
.~:il~~I whose flag the ship sails or by any •t.S..P-1 .J...._,s..,.. ~I Ji µ w:..:;
other Goverriment, the Owner shall lSi rs- ~~ • ~I · ·- ~WI ('~-
~.fa.I
discharge the cargo at any other port ~ .lkll 1» ~ _p.i <-ll:!-o
covered by this Charter Party as 'Ji ~ 1.:JJ..»lL.............1 ~i-------1

-----------------------------------r----0Idered-by-the-eharte~r·~s-~-r-o..:.v1 .......e--...~__.;:71-,-.'-.;:i.~.
)11 .. 4-JI 1» ..:ifo.
such other port is not a blockaded or .;_,_s~ ~ L...s I.;~ JI
-
prohibited port as above mentioned) J_,_.._,JI 4-h u.- ufo.J ·(~t...
and shall be entitled to freight as if the w.;L......S _,] w; ~I •..»I u-1c
ship had discharged at the port .. or ~ 14;;, .•. ..:..:._)I ..ii :uµ1
ports of discharge to which she was w.;tS ~I &.fall ~I_,.. JI <-ll:!-o
originally ordered. . t+.J! ylA.Jl4 J-YI ~ ~

2. "The ship shall have liberty to comply ~~~I

with any orders or directions as to ~4
u-5 •.;:i. :uµ1 ufo -Y
..:...~.;, JI ..>--"I JI
departure, arrival, routes, ports of call, J>--1 JI J_,..._....._,i1 JI •.;..ilA..Jl
I
I 1
 l
,,
11

.1

II
I
 JI~~ ~~11:)~\:AJI :~
111\0i'\'\
~ ~ -
~I~
UNCITRAL Model Law on Electronic Commerce, 1996
' - ,__ .
.-.<.1~1 ~ ) ~ .

PART ONE JJ'il ~ .>--+1'

YJ~IOJ~
ELECTRONIC COMMERCE Le~

IN GENERAL

CHAPTER I
JJ'il J-ill
GENERAL PROVISIONS
"-----"~' r'-----..,s~,i

Article 1: Sphere of Application

This law applies to any kind of 0---- tY tSi .)c. L.Jylill I~ ~

information in the form of a data a.-J ~ ~ ufa ..:..L.._,1.-JI
message used in the context of li.........!..il ,j~ ~ ~ ..:..IJ4!
commercial activities. ·~J~

- UN publications. Austria, V. 79-22267- May 1997 (')

. -~,_.'ii Vo~ c.;1_>&11 J..:.'il ..sA 4-i!lyJI 4jill -

~
0_,;Li111:i..........
._,~ y.oi ~ ....,,t.J> .li .;i1 J~ .>-.)WI~ 411' c.fo p)
: wU4!11 ~ ,.UI Jjt...)1
l o.lL.JI v- ( 1 ) •_;a ~ .) J _,JI l+i>..._.>U ~ ..:iu~ .a. J ..,le. 0_,;\.i.11 1:i. ~ .

.~~~~~~~~~ ·i··-~~----J---------------------------------~
. ~y) iJ~ ..:,\,;~ .;Jt..J Jw.» \....)jc

·u . '-' y&. ..fa ~ ~ Jyll ..,le. .)till ~

~;. ul ~ cfo ··
.1.tii..4 I Ul;~ ..,i 0.fi..l ..:.t.._,L.....I Vo tY "'' ..,le. 0_,;till I» ~·
"-lt..J ~
:~u'IW
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~
~
~
"' ·1 t.•
u-":!
. .d i..
IS-" L....I I .....ili
.J _,,-- 't. W
.J . U,,..~;1· -11...~
c.- ~......1:; ~ • • •••

.:.,L..i)LJ J...!:i.J • .:fo r1 ) ~-wu;lSI .1.,.,. • "'Jl+ill ~ wi:i di:W ~

~J~ ~t......l :~'I JlWl ~..,le. ~till ..:.Wla..JI I.SJ~ t-11.lJl wi:i
! ~_,)I ) 1.S~ J_.µJI I t--,!Jfo ,jW I u~ ) t1--11 J.l\.1' ) -l;!J_,;.I
JL.&.YI I ~~'ii ~ I '.!:! ':;U JL,.o:.I ! ~Ifill , ;.J_,.....14 lli_,)l 1 ~J~
!,j~ I u.--l:J I~~ J\..u>YI ! J...r>JI, J~'/I ! ~lfll C:... ! ~
) .rt_;....I 0.JL.....Ull ~ c.)-1.a.Ji.J .;.s_µ..11 ~JLl....11 ! J)l;.:>..'11 j\.µ)
· ·V. 1.i.>.b~) ~ ~) IY"-1) Ip.. ylS)I) ~~I Ji;! c>J~
 ..S;L>..lJI
•
~.Ji .ii& ·• v'..,,,
(.-=-:-
·1•11
~I -"I I YA

e. "Interrnediary". with respect to a ~' ·~_,11· ~ .ii;.-__. Article 2

particular data message, means a ' ~ ..:.,,L._;4-1 '"JI......)! ~ Definitions
person who. on behalf of another .j-&- ~~ I"~ ._s:i.JI ~I
person, sends, receives or stores that r)U.__..1 _,I JI.....J4 , y..i ~ For the purposes of this Jaw : : 0.J.iUll I l. ~I _j. 'f
data message or provides other ~ _,i uwli-! '"Jt.... .J -i!fa _,i a. "Data message " means information • ~L.__;4-1 '"Jt....) • ~ .ll ..);! • i
services with respect to that data '"JL... y ~ ~ .s y..i
..:it...~ generated, sent, received or stored by _,1 lA jL.!..i) M _;:JI ..:it..._,!.....JI
message; , .~ ..:..iwl,i.,JI electronic, optical or similar means ~fa_,~! _,I t+lt....J!
including, but not limited to _,I ~ _,....:.. _,I 9 _,..foll Jjt... Y.
f. "Information system" means a system ·..:.L.. _,l....JI rl.l.a.i • ~ .ii;. . _, electronic data interchange (EDl): u-k .!ill ~ '-'"'! ' "+IL.!.. Jjt... Y.
for generating, sending, receiving, Jjt.... .J ~ L!.:..'J ~ .s :i.11 ru.:..11 electronic mail, telegram, telex or j.il__,U • ~I 'J j\i.ll ~
storing or otherwise processing data _,I ~! _,i l+lt.....J! _,i ..:iwl,i.,JI telecopy; .l,ly,-.11 _,i • 9_,..fol'J1 ..:iw4:JI
messages. ...si ~ t.~ _,I !+>:!fa ·~I _,I c..i;:JI _,I , ~_,..fol'JI
.y..i ~J ! ~_,,JI ~I _,i

Article 3 b. "Electronic data interchange (EDI)" ..:..it.__;4.J1 J.i\.,>j • ~ Ji.>: . ...,...

Interpretation .)>------ ! ...,.i....ilt
... means the electronic transfer from uL..._,!....Ji J.__,i; • 4 J..fol'J I
computer to computer of information y _,...~ u-1' y _,...~ 04 ~ J..foll
I - In the interpretation of this law, regard
is to be had to its international origin
li....A ~
~_,.ill 0.))
~ .J\..iJr:.'JI
ael jyL..ill
.)y, _, using an agreed standard to structure ~
the information ;
~ .)t;....... y;.i "'~4
! ul..._,L....JI LJ.!_,s..)
and to the need to promote uniformity ~~;.~·.).J~J
in its application and the observance .~I ~ _)_;._, c. "Originator" of a data message means ~L......)~·~.ll_>.!.~
of good faith. a person by . whom; or on whose ~ 1..5.ill ~' , • ..:..iw4.JI
behalf, the data message purports to ..:.il.i4.JI '"Jt... .J ~ L!.:..) _,i jl... .J! j
2.Questions concerning matters governed ~I .J>"Y~ A..i.W.JI Jjl....JI -Y have been sent or generated prior to • .li • ..:..io.. ~~•-4..<:--------r
by this law which are not expressly u~ 'J s 0_,;L.._.il1 '~ ~ sto :.-if any.but-it-do not me uae 'J ~.J' "'-.le "-:>~Ji~~
~~~~~~_.,ett.led-in-it to-be-sett1ect-tn . ~~ ._,J .u.ly.- l....bll a person acting as an intermediary u~1..5~l~I~
conformity with the general principles rH u--->11 t..WI t;.i4-Jl w_, with respect to that data message ; ! .U...)1 ·~ ~ ~ ~_,s
on which this law is based. . .,:,_,.;\.illl~~
d. "Addressee" of a data message means '4! J._...JJ1. ~ .ilJ. . .l
Article 4 a person who is intended by the ~I .JA -cl , ..:.iw4:JI '"Jt... .J
Variation by Agreement originator to receive the data message, .a..)~ 01 ~1 .i....:J .s.i11
but does not include a person acting as ~ 'i ~_, , uUL.wll
1- As between parties involved in ul->---1-YI 0--:!-:' ~I .s-i-1 an intermediary with respect to that ~fiu~1..5.ill~I
generating, sending, receiving, storing JjL....) ~L.!..i! ~ ~~' data message ;
. '".ll....)1 ·~ ~ ~
or otherwise processing data _,i ~1 _,i t+lL.. .J! _,i ..:.wl,i.,JI
messages, and except as otherwise ~.J ..sl ~ lA~ _,i !+>:!fa
 provided, the provisions of Chapter III ~:i y,e. ~ ~ t1 L.J' _p.i
3. The provrsions of this article do not ~ oJWI • .l.. c>l.S....I ..s~ 'i · r may be varied by agreement. ~l.jJI J.,..:.ill <'15....j ~ j~ ,
apply to the following:( ). ( ): ~L. . Jlii'i4

Article 7 2. Paragraph (I) does not affect any right ..1....-i ~ ...s4 (\)•.foll j:;..:; 'i -'!'
Signature that may exist to modify by agreement JL...iJ)'4 J~ ,) cs9 Wt.! .jfo
any rule of law referred to in Chapter ~ ~! .JL!.... 4 _,;l! o.lc.l! ~I
I. Where the law requires a signature of ~,;, J p,. J _:,_,;lil1 .b A Wlc . ' (II). .~\jjl~I
a person, that requirement is met in .by!JI ~lrl .) ~ • ~ (.)A

relation to a data message if: : 1:ii , uw~I ~t.....J .,JI ~4 CHAPTER II. c.r~I J-ill
APPLICATION OF LEGAL ~ 4~lill ..:.Ll:al.;.!.¥1 ~
a. a method is used to identify that L;!_,A ~~_):.~~I .I REQUIREMENTS TO DATA MESSAGES ..:.L."4,JI J.1....J
person and to indicate that person's ~ J__..µ.!IJ ~I~
approval of the information contained ~~l~Uil_,.. Article 5 o o.1W
in the data message; and ~L........J cs9 oJ) _,JI uL. _,i.....ll Legal Recognition of Data Messages ..:.U"4:Jl Jlt....Y. c.r"_,.,1ill u1~¥1
• ...:...w~I
Information shall not be denied legal JI ._...; _,;lill 4.J _,..i.. ..:.L. _,i.....i1 Jii; 'i
b. That method is as reliable as was ;, ~~ ~.)JI .tl.__lj ul.S .y effect, validity or enforceability solely on ~I J_p,-J ~ ~Li Ji ~
appropriate for the purpose for which ~\..WI .J.ill4 ~ J!_,.:;)4 the grounds that it is in the form of a data . ww~ ~L....J ~ cs9
the data message was generated or ~i JI ~I <.S:i.11 cfay.ll message.
communicated, in the light of all the u-----5 , ..:.w~I ~L....J "-4.i 0A
circumstances, including any relevant ~ ~, uJ.)JI JS~_,..:.. Article 6 '\ o.1W
agreement. . yY4 J...:L... Jliil ..si ~:i ·Writing ~1 ;sn

2. Paragraph (I) applies whether the ~I ~1_,__.... (')•.foll <.S~ .r I. Where the law requires information to l)~,-,1 WJ.i'
• • . h C f I<'• l.'.a ._L ,....,.. _:.l\ _b .•.II
requirement therem ts mt e 1orrn~o~_:~~~--:;- ~"'-=-;.·;~
.....~,,..--;;;;~..r-~-----1~!----tJV"ln-wrtfing,
1..- • • •
tna requirement is met cs9~
,........i.
• ~_,:& 1.:.L ..._,i.....JI
_______ .an-abi~~atie o hetherttR:taw Y!'-4! uY ~ ~1 J c>1 Jil! by a data message if information 1:i! ..b~I ~ ..:.w~I ~L....J
simply provides consequences for the ..,.Uy.._:; ~I ...,...Jl_,.JI ~ ~1 contained therein is accessible so as to wU4:>JI ~ t)L.__1,)'I J...f,
absence of a signature. · ~ i' JP.-J ~ ~ be usable for subsequent reference. ~ ~ u---1c ~ oJ) _,JI
. Lb~~) (P.-.fa. l+ol~I
3. The provisions of this article do not L. ~ oJWI .:... rl.S....1 <.S~ 'i . r
apply to the following:( ). ( ) : ~ 2. Paragraph (1) applies whether the ~I_,_... ( \ ) o _r-iill rl.S....1 13 Y.-:, . '1'
requirement therein is in the form of ~ ~ u-a,.....WI .b~I i;ul
Article 8 A o.lW an obligation or whether the law u_,;L..ill cs9 ~I JI <'I Jill JU
Original J .o'-jl simply provides consequencs for the ~I ..,_.ii _,.JI ~ ~I J.fe-41
information not being in writing . wL.._,i.....JI ~ ~ lj) ._..,fa
·
I. Where the law requires · r ·
information to H · ·L..iJI
Ji; uY .b ~• • Wlc . \ . ~_,:&

I I
 '5Jl>,jjl
. ~I
L~ .>A& ··c..s'..,,,
·1•11 I
v--'
.:lj
I 'l"'I'

was generated and in the light of all be presented or retained in its original ~I+-! .li.l.i:i..~:y1) ..::..L._,L.....ll
the relevant circumstances. form, thar requirement is met by a AJL-..J ~_;:,..,;,. ~'11 ~
data message if : :lj) ' .by!JI I~ ..:...li4'JI
4. The provisions of this article do not L. ~ o.lWI .~ r~i ..s y;:. Y .t
apply to the following: [ .... .].
( ): ~
a. there exists a reliable assurance as to ~~hl~J~L..~J·i
the integrity of the information from ~\ l.S :i.ll ..:..i_,JI .l.lc wl.. _,L.....]1
, o.ll.JI
Article 9 the time when it was first generated in ~~~JYI•~~
Admissibility and Evidential Weight ~ ~J ..::..i..~ J.'l....J J~ its final form, as a data message or JI ..::..L;~ AJL..J ~Y. ·~4--JI
of the Messages u4-i"/1 otherwise; and ' ,,illj Ji:-

1. In any legal proceedings, nothing in 'i , W_,;t! . ::.. 1,.1.>-----'?"! ~i ~ . ,

b. Where it is required that information ~ t..... ..:.L._,L.....ll ..ill::. ...:.,;lS ·'-'
.l..-.C.l.,S r~i 04 ~ ..si ~
the application of the rules of be presented, that information is ul J_>--i.JI ~I ~ ~~ .
..J.J.l U~I ~\.,:,... ..:...t_;,'jl
evidence shall apply so as to deny the capable of being displayed to the ~ii:J J..A L...l.lc ..ill:iJ "-:!l! rii:J
admissibility of a data message in :..:..it_;,)~ ..:...li4,JI A.lt...J J~ . ..:.L._,L.....ll
person to whom it is to be presented. ,,ill:;
evidence:
.i_;,,,:;1 "I J----"" ( \ ) o _.iill l.S y;:. . Y
a. on the sole ground that it is a data
2. Paragraph (I) applies whether the
J..y!JI
I
message; or,
requirement therein is in the form of
an obligation or whether the law
~
J~
~ ~
L)y~I
l>"" ,,.....WI
u.! ~I Ji rl jlll f
simply provides consequences for the yj~ ~I ~1_,.JI ~~I

,·I
b. if it is the best evidence that the ~ ~ ~ ~i ..S.JC~ .y
information not being presented or r.:i..........s; Ji ..::..li4,JI ~ rJc. ~
person adducing it could reasonably ~\ u--A u;tS 1:i), ~YI
retained in into original form. .~YI~ u.! 4-1 Ji.~'!'
be expected to obtain, on the grounds j-A ~fa.a 4 fa! t:9 fa. J!l.l '
ul 4---1 1~ ~-. '! ..s :i.ll ~I
that it is not in its original form. 3. For the purposes of subparagraph (a) u-- (i) ¥-.)JI •_.ii!I __..ol_;t.'1 . r
.~~ of paragraph (I): : (') •_.ii!I

2.
Information in the form of a data ~ t.Jfo ._;II ..::..L._,L....ll ~. Y
message shal 1 be g~iv~e:n~d~u~e:_:e:v~i~de~n~t~ia~l
-------weight:-1 ~mg e evi ential ~ ~
.-;~=:-~,. .~,~0"'~
4~b~i~·'7·
1..~..:...~u7·t..u~~----jtt"
.) J . .:...t+i"'JI u.!
__ _..':,.th criteria-fo
sessmg mtegrity
shall be whether the information has
~~J~L)~.i
w;L..S 1:i1 L. ~ y. ..:.L.._,L.....]1

weight of a data message, regard shall ~ >.! ' ...:.it+i"'J1 .) ...:.iu4'J1 a. J remained complete and unaltered, ' ~ u.J.lJ ~ ..::....ii .l9
'" ~- .Lii ii)~. Ju..:..·\II apart firom the a ddiition
' ..siJ ~LSI .UW.) .. ~4
be had to the reliability of the manner i.r---· ->- ' of any
l.S.:il-&11 l.Sp.JI .. ~I I.Ai~
in which the data message was _,\ 0--;!fa) "~! u-i ~ endorsement and any change which
generated, stored or communicated, to J!~ ..::..U4'JI ~J t)4! arises in the normal course of
J ! u-"> ~I J 0,!_?.:ill J t~
the reliability of the manner in which ~1 ~...)JI •J~J •4-fo=. communication, storage and display;
~ .)<:. U.SL:...JI .) ~! d
the integrity of the information was an
maintained, to the manner in which its '~ J>~ ..:...L._,Ja..JI -,.._,__..J,h.JI J!~I ~y fo ·Y
L_,i_,& ~ W.l.l:I. ~I ~.fallJ b. the standard of reliability required
originator was identified, and to any J-.....:i:! _p.i J..t.:. oYJ, ~ shall be assessed in the light ofthe UL..:..ii l.S :i.JI u-<>.)ill "_,..4 uk-
other relevant factor. ·JA'i4 purpose for which the information "~ ~J ..::..L._,L.....ll ~I 0-
 ~~.:,,i~j~·"' Article 10 \ • ~JWI
3. A person may satisfy the requirement
0~1 ~ ~) .Jt.:...ll ~I Retention of Data Message ..:..t..~I J,.'t.....;,i ~~)'I
referred to in paragraph (I) by using
the services of any other person, ._si ..:L--o~ 4,j~'/4 (')

provided that the conditions set forth

in subparagraphs (a). (b), and (cjof
-~I.>"~~.
..,...! ~
_?.i ~
U"'~I .hJy:.11
I. Where the law requires that certain j;~ '14 .:;_,;till ~
document. records or information be ...:...t.._,L... Ji ...:...)4...... Ji ...:...I~
t..~ . '
I
('-:-') J (i) ~.}JI wl~I retained. that requirement is met by 14----! ~u_,11 ~ ·~ J
paragraph (I) are met. retaining data messages, provided that JjL...Y. .bl.i:U.)'1 f' lj) ~I
. (') • fall .,:,... (~) .J
the following conditions are satisfied : .hn ......~1 old.>-~~ •wu4;JI
.!Jill1 ~ :'"..;JU!I
CllAPTER Ill
COMMUNICATION OF DATA MESSAGES
~ JL...) t:il.il
a. the information contained therein is ..:iL........._,J.a..JI ..)c t )l..l:. )'I ~ . i
Article II.
accessible so as to be usable for e-« ~ ~ lo-:!S i..l) ,i1
subsequent reference; and W! t~.JI ~ 1+-1.i:.:-....1
Formation and Validity of Contracts
J!lb.Y

l. In the context of contract formation, r-1 t.. .J • .)_,ia.11 LHfo Jt,i.... ~ · 1

, .!U:i ~ ~ .:,,u.):Jt ~ b. the data massage is retained in the JS..,:.!4 wli4!)1 ~L...Y. .bi.i:U. )'I . "':-'
unless otherwise agreed by the parties,
uL.i~I Jjl__....J 1'1~1 j~ format in which it was generated, sent u...t....i .Ji wL) Ji ~I ._s:ill
an offer and the acceptance of an offer
J~ v-0-->--'11 ~
J ~ or received, or in a format which can ~ 4,jj wt.,:._I ~~.Ji~
may be expressed by means of data
~~.) 1'1.i.;.:;....) .i.:..:.J. v-0yJ1 be demonstrated to represent } ...:..u..._.:ui ~I wt.. _,J.a...!I ~.l.!
messages. Where a data message is
~ 'J , .lia.11 .Y.fo ~ uli4! accurately the information generated. .J ! w...l:i...i .Ji wL)
used in the formation of a contract,
~~l.i.Ji~.lia.11..ill:i sent or received; and.
that contract shall not be denied
..ill:il wu4! ~L...J !'1.i.;.:;....) .)~
validity or enforceability on the sole
.v-0_r.ll c. such information, if any, is retained l.J.I ' ..:iL.._,J.a...!4 .i;\.........iA)'l -~
ground that a data message was used
as enables the identification of the -'.i~) L;o ,:fiAJ _;JI , w~ .J
for that purpose. origin and destination of a dat ~~~~
2. The provisions of this article do not t.. ~ o.lWI .~ .-~I u~ 'J ·'I' ---i...---message---amf tneaata and time when it t+]L...........) <.'..JS .J.J (:,!).:;J l+l ~ J
was sent or received. .~l.J
----~amp·piytmne-f61fowmg :( ). (. · · · ·· · · · · ·· ·· · · · · ·) =..s4

\Yo~ 2. An obligation to retain documents, 1.L.L.:..)'4 i-ly...J)'I ~ 'J . y

Article 12 JI ~I .Ji ..:.1.i.r...........4
records or information in accordance
Recognition by Parties of Data ~ Jll...:Y. ~l~"I ul~I with paragraph (I) does not extend to ~ ( \ ) i._;iill w.J ..:it.._,J.a...!I
Messages.
any information the sole purpose of ~_,II v-0 _r.11 ..Jfa wl.. _,L... "-:Ii
I. As between the originator and the ~l--.J ~ L>-P. '-DWI~·\ which is to enable the message to be JL,....) 0---- ~I .JA l+i..
addressee of a data message, a .l..-ii:! 'J • "-:ill J.....>-11.J uu4;ll sent or received. -~!)~L...)1
declaration of will or other statement 0---- .y,e. .Ji o.llJ'/I uc. ~I
shall not be denied legal effect, validity .JI ..,;yLill "'1_,.i.. ~I ~}
or enforceability solely on the grounds
 .5.)~I _.\I .IA& · _j1•11 I -"I
-...-· . " ...... ..,......, ' r"'\

that it is in the form of a data message. ~i J ..r.--J ~ ..

KuLLi _,~
i -
. wli41 :UL...J JS.:. c)c.
b. the data message as received by the ~ ~ j---S.Ai ..::.,.;\$ .y
addressee resulted from the actions of ~ ~ Jfo_, ..s4 _,i ~4 2. The provisions of this article do not ._.--.le. oJWI 11' rlS.:..i ..;y;:, 'i . .,.
a person whose relationship with the lp~ ~.)> c)! Jy.o_,ll apply to the following: ( ) :~t..
originator or with any agent of the ..:.L4,J1 Jjl.....J.) wt.;.'! ~1
originator enabled that person to gain . ::::1....i ~ • ..rit...... Article 13 i r oJW

access to a method used by the Attribution of Data Messages. .:..L..1::Jl J,.1-.; JU-)
originator to identify data messages as
its own. 1. A data message is that of the .J-&. ;, yl....o ul.i4,JI :ijL....J ..faU . \
originator if it was sent by the ...s:.i.11 _,.. ~I .j\S l:i) , ~I

4. Paragraph (3) does not apply: originator itself. ·~l+L)

a. as of the time when the addressee has

4 µ t.S :.i.11 ..:.!_,JI j.o 1 }.;.c,\ . i
both received notice from the ~1 0-6 \ .J.W! "-:!I! .J....>--11
originator that the data message is not ~ r.J ul.i4,J1 :UL.. .J .:.;4 ~
that of the originator, and had ~i .l! .jfo _, • ~1 :.:F
reasonable time to act accordingly; or :u_,..._. ;, fa ~! j... _yoll ~i ~
_,i ! U"L...'i 1 11' c)c. w .r...:.ll
l :..:,,;~W~.y
b. in a case within paragraph (3-b), at
any time when the addressee knew or ..::..........._, ...si ..,.i. (y-T") ·~
should have known, had it exercised .jLl _,i 4! J.. ..>--11 ~ w y=-
reasonable care or used any agreed ~WI Ji!I~), w~j~
procedure, that the data message was .. 1.J--"'1 ..;I r~I _,I :U_,i...JI
-r- ' ..:.,Lil.JI
.. :UL.. · I ,
.) u "-1lc. - ~- ·•
not that of the originator.
.~I,:;&-~
-----------------------------------· __
5. Where a data message is that of the wU4,JI .iJL.....J 0_,__..s:.
originator or is deemed to be that of ~ ) ~\ .:;&-
the originator, or the addressee is ' ~I .:;&- ;, yl....o lf.jl
entitled to act on that assumption, ~ ..>--11 ~ 0-6 0~ w:.c. _,I
then, as between the originator and the 1:\.......A ;..)"1....i c)c. w~.) ~!
addressee, the addressee is entitled to J_.....yJJ J"'-:1' ifa1fa'!1
~.lie.
regard the data message as received as ~ L,L:W\ .JL-h! ..,.i ' ~!
being what the originator intended to ~ i:.) ' ~! J....>--11 _, ~\
send, and to act on that assumption. .sr-A l+--1...:i t..s ..:..,t;4,JI :UL...J
The addressee is not so entitled when 4JI.....J) ~I .i....i .;JI :Ul....)1
2. As between the originator and the
addressee, a data message is deemed
to be that of the originator if it was
sent:
a. by a person who had the authority to
act on behalf of the originator in
respect of that data message; or
b. by an information system ~ ~ Y.-4 ..:..,t.. _,!..... rU:..; 0-6 . ...,...
programmed· by, or on behalf of the J.--ll ~ ~~ _,I ~I ~
originator to operate automatically'. .4'.>ill:i
J.,.........>--11.-' ~I ~ .Q::l.JI ._,.i . r
_,,_-ri,~between-the-ori'
addressee. an addresseemaisorentitled
an the to ~ 01 ~! J.._yoll ~ • ~!
W:.C. . o regard a data message as being that of 0--&- oyl....o ~i ul.iWI .. :UL...)
•yt....... the originator, and to act on that ~w~,)_,.~1
fa assumption, if: : I~) • i>ol fa)ll 11' u-L...i
a. in order to ascertain whether the data • L..:J....... ~ ":!!! J....>--11 ~ .i
message was that of the originator, the ul i.:r-- .lil.....:.JI ~j 0-6
.iJL.....J
addressee properly applied a • ~I .:;&- wy.- .li wlil..JI
pr?~edure previously agreed to by the ~I ~ ijSI_, 01 ~~I;)
(.:ii ongmator for that purposes; or _,I t t>o.;a.JI l:i.,1
 it knew or should have known. had it li......t.:..>"L-...i~u~)J
a. any communication by the addressee, ~! J..._rll ...,_..;6. .:.;. t ~! ..si · i exercised reasonable care or used any J,........... yJl ..Jfa. 'i J .. :..>""' fa'Jl
automated or otherwise. or L;~ Ji ~i ~>! ..:;LSi .. 1_,... agreed procedure. that the Ji."""'~ ul..~1 .!l.Jj~!
Ji ...s_?.i ~J transmission resulted in any error in ~\.WI ~ lj) .....i..>'Y j ~ ..JlS
the data message as received. ..I~) ..si ,.~I Ji ~_,i...JI
b. any conduct of the addressee, .J__..._rll ....,..U4-.:.;. .!l_,l... ..sl . ...,.. .j.-&- fa.i w,.11 j ' ~ Jii..
sufficient to indicate to the originator ~'I y;LS ufa. ~ ..ill:lJ' ~! L....S ..::.ili4:JI "-ll....J __...! i.h>. ...;i
that the data message has been .UL...J ~I t,,i>1 ~1 ·~
received. · ..::..Li4:JI
6. The addressee is entitled to regard .J._s J..t...,i ,) ~! J...yJl J"":! . 1
3. Where the originator has stated that a_.. J .jl _ftj .i.9 ~I ..:;LS lj) . 1" each data message received as a ~i ~ ~ wlil:! .UL...J
the data message is conditional on ~Lb~ ....bJ~ wli4:JI separate data message and to act on .....i~ ,) J ...Ji:i...... wlil:! .UL.. .J
receipt of the acknowledgment, the "-lL.......J j..W • ~'/4 ).)'/I that assumption. except to the extent lj) 'i.1 .falJi-.i'/I Iii. ...>"L..i ._.Jc.
data message is treated as though it ~I )L....i j... y i>1 l+l\.s J ul.i4:JI that it duplicates another data message wl..i4; .UL.. J .:.;. ~w ~ w.;ts
has never been sent, until the .).)'/I JJ.)J ~ and the addressee knew or should Ji "--:!l! j... _rll ..._;JCJ ' ...5..? i
acknowledgment is received. have known, had it exercised J~ lj) ' ,_i.>---':! ,:;i ~ ..;ts
reasonable care or used any agreed .s i ?'~.I ) "-J fa.JI ~l...WI
4. Where the originator has not stated j _;--Sj .l...-..i ~I fa. i>1 lj) .f procedure. that the data message was a .UL... J ,:;i • ~ 04. .. 1.?-1
that the data message is conditional on ~J~ ;1~ . .u,. • wlil..ull
•. .UL..J duplicate. . ~w ~ u.;LS wli4:JI
receipt of the acknowledgment, and ~I ~ i>1J ?'";J:,,.,.'J4 IJl"i'
the acknowledgment has not been w......_j_,]I ,:;_,......:. _) )JS"jl .!l.Jj Article )4 It oJWI
received by the originator within the ..,--J Ji ~ ~I Ji J~I Acknowledgment of Receipt: ~'i~ J)'il
time specified or agreed or if no time .i.9 J..! i>1 J_,i..... ..:..s J ..:;.,,......:.
lj!

has been specified or agreed, within a , ~ J~'/I JI ..:..SJ ~f' I. Paragraphs (2) to (4) of this article ( f} c.s--1! ('1') 04 wlfall ~ .I
reasonable time. the originator : :~I..;~ apply where, on or before sending a ~I ufa L..lll:. oJWI .:.i. ..jo._ -tl
•~-~-'----4------'.d:'a~ta'.':"mes.sa~--0r..by
rneans-uf"ttran:faa } w..JJ ~! j..._rll .:.;. -,..J.b .i.9
a. maY._gh'.Ll!ruice to the addre~scss~e:ee~J->--
.....~~ ~ :JF.-:1 · massage, the originator has requested ) ' wLl4:JI .UL.... J ~ y j,.i
--------:s:".ta7t1::'.·ng
that no acknowledgment has ~ i>1-..;i ~ fi~ l).a.!.) ~! or has agreed with the addressee that ~ y ' ~L-...._;11 .!l.J:j .U.....1 >!
been received and specifying a UiJ ~ ~J ~'14 ).)! ..si receipt of the data message be Ji , ul..i4:JI ~I.... J ~4 ) .)!
reasonable time by which the ~ ~_,...;..t:..) ~ 'i_,i..... acknowledged. . .!l.Jj~ ~JUI
acknowledgment must be received; ! )JS"il .!1.1.:i
and 2. Where the originator has not agreed t-" cj........i:il .i.9 ~I (fa r-! lj) .r
with the addressee that the )JS"!' wfa wi ~ "-:!!.' J....rl'
b. if the acknowledgment is not ).>--J"jl Jy, r-1 'j! ' ~ j~ . ...,.. acknowledgment be given in a ~ Ji ..:...:-... J5..! JiJ ~'i4
received within the time specified in U-i_,]1 0~ ~ ~'i4 particular form or by a particular j~·~~~~,)
subparagraph (a) may, upon notice to • (1) L.+..)11 ofall ~~I method, an acknowledgment may be : c.i!_;.b WC. ~'/4 J.;J"jl
the addressee, treat the data message J..._.._rll ~I Jl....!.! ~ jJ ~ given by:
 message on behalf of the originator. as though it had never been sent. or wL.l~I tjL_..,.J J..'-':! j ,9)
exercise any other rights it may have. w
Ji ' )L....,,i j... _; t1 L;.ils
2. Unless otherwise agreed between the 4) J..J..!1_, ~I ~ t1 L.. . 'I' U------ .U :_;~ .lS '-A! ~I .)!
originator and the addressee. the time w.--9 J J~ ' ..!L.Jj y,t. > . ._sy..i "'",;..:..
of receipt of a data message is ~I > wu4,JI tjl....) i')U...I
: __.JtJI 5. Where the originator receives the IJ_r--i) ~I ~ l...ijc. .o
determined as follows :
addressee's acknowledgment of ' y) j......._;JI .:.r--- l")U...J'4
<'\.hi :):c. .lS .._,J) j... J..!I L;\S I j) . i receipt, it is presumed that the related ~I .lS 9) J... YJI :_;i ._>a~
a. If the addressee has designated an
information system for the purpose of Jj~ .J ~! ;..;O .rl ..:..L.._,i..... data message was received by the 'i_,. ~' ..:..1:i ..::..iu4,JI ;.JL...J
receiving data messages, receipt : ~'I' ~ , ..:.iu4,JI addressee. That presumption does not ._...Jc. U......,. r...f-:>l.fo'/1 I~ ..s ,.4
occurs: imply that the data message wL....) ~I wu~I tjL... .J j
corresponds to the message received. . wJ .JJ ._;.!I ;.]L...)1 C:" 0il1ui
I. at the time when the data message ..:.,L._.J4,JI tj\.....J J_p.J uiJ T
enters the designated information _,I ! ~I ..:..L..__,l...JI <'\.hi 6. Where the received acknowledgment l"~'i4 )>--''I' .ft~ l...,lj<:. . ·,
system: or. states that the related data message wl:i ..::..iu4,.11 ;.JL....J j -.» ..sill
met technical requirements. either ~I ..b_,_y!JI ...:...! _,:;....I ..ii U,,.Ji
II. if the data message is sent to an ----=1! J..J..!I t ~ fal ui J T agreed upon or set forth in applicable ~oJ..\.:>...JI Ji 4-:!lc. ~I ~1_,...
wL.....) \j) wU4,JI tjl_...) standards, it is presumed that those j ;..;O ~ • \.e..! J yu.-JI _Et......11
information system of the addressee
that is not the designated information l"L___h; ~! wU4,JI tjl_... .J requirements have been met. · LI;!ji..ol ..ii ..b _,_y!JI .ill;

system, at the time when the data fl_, .-..,.l! J... ;.ii ~u wL..y....
message is retrieved by the , ~ i' ..s :i.11 l"LhJI _,A ~ 7. Except in so far as it relates to the JL....J4 'i) ii:.L.JI oiA ~ )' . V
addressee; sending or receipt of the data message, ~ 'iJ. ~' Ji wu4,JI
~_,.;\.ill ...,_,Jl~I ~l...J :_;i ~
b. If the addressee has not designated an l"t.J.; W! J...J..!I ..):"':! t11:i).y this article is not intended to deal with tjL... .J ~ ~I_,.... <.,ii fa .lS ._;.!I
information system, receipt occurs ~~'I'~, wL.._,L... the legal consequences that may flow ).;---J'/1u==1:: i wW4,Jl- ----""'11
when the data message enters an l"L___h; wU4,JI tj\_.,.J ~.i:; either from that data message or from
· ~4
-------=:=:~~~~~~---=~
information system of the addressee. ..WI ~ ,,i...

3. Paragraph (2) applies notwithstanding 0Ll.Jt ulS _,1J (") "fall ~ . '"
_._..,. _......_....kaewledgmerrrof'tt r ce1pt.
Article 15.
Time and Place of Dispatch and
\ o oJWI
~!.J J\....J! LJli...J (jl..j
that the place where the information wL-A __,l...JI l"l.h.i 9 J.:/> y, l..S :i.11
ReceiptData Message. ..::..L.'4,JI J.i.....)
system is located may be different 0i ~ '-':i.i' 0tS..Jt LF- ~
from the place where the data message 4 w.J:.........t ..:..U4,JI tjL... .J l. Unless otherwise agreed between the ----=1J J... J..!1 J ~I ~ t1L.. .\
rs deemed to be received under .(£)•fall ~J-4! originator and the addressee the JL...)r-i:· .,tllj~~

paragraph (4). dispatch of a data message occurs ~.i:; L....l.ic wL...;l..JI .. 4.JL....)
when it enters an information system ~ 'i ..:.L._,L... I'll.; tjl...)1
4. Unless otherwise agreed between the ~! J..J..!lJ ~I~ t1 L.. t outside the control of the originator or ·~Ji.~1·~
originator and the addressee, a data tjt_... .J 0i ~ • .!ID y,t. ~ of the person who sent the data tjl_... .J J_....) l..Si..._ll ~I
 of goods. including but not limited to: 'i ..J4.JI ~ _).c .!l}j ~ ~ ,.li.JI message is deemed to be dispatched at .JL.S....ll _)..-. ...::..L...)
.li ..:...L.;4.JI
:~I the place where the originator has its • ~I j...c _;i.. ~ ~ ..s:i.JI
place or business. and is deemed to be ..JL.S....ll ~ ..:.......l:"i.l 4-li ~J
(a) I: furnishing the marks. number. received at the place where the J._.._.._;..JI j..u.JI _;i.. ~ ~ .s jjl
quantity. Or weight of goods: addressee has its place of business. : o fall .~ _fa.I _;t.'J J . "-;!])
For the purposes of this paragraph :
II . stating or declaring the nature or ·~ Jl~l.....A,Jl~..J~T
value of goods : \ 4-i ) .)'jl Ji a. if the originator or the addressee has ~! j..._;...ll Ji :_...:..wJ ..JLS Jj) . i
more than one place of business. the ..Jl-S • ~I J j...c ji.. .y. .fol
III. issuing a receipt for goods: place of business is that which has the (Y} "-.! ..s :i.JI _;i.JI y. j..u.JI _;i..
closest relationship to the underlying ~ Ji , ~I U.L...J4 ~
IV. confirming that goods have been ..s~ w . ..;·i .i..S\.:;
t' 'l....:.:a.JI . ·~· transaction or. where there is no J.___:,.. ~_iJ ~ ljJ ~)I j..u.JI
loaded: ! ~ underlying transaction. the principal 'U.L...JI dl.l:i
place of business .
(b) i : notifying a person of terms and .li...11 .1. J~ ~ ...;i t")l,) "\" ....,.,
conditions of the contract: :~~IJ b. if the originator or the addressee does J._...,_;..JI Jj (s..!.Wl fa. ~ \j) . y
not have a place of business. reference ' ~ ..>- • _;\..!.,i • J..c. _;... .Y!
Ji: giving instructions to a carrier: is to be made to its habitual residence. . .Jt.......ll ...:....u.1 J,,,_. .)!

(c) i.: claiming delivery of goods; 5. The provisions of this article do not _,..Jc. o.JL....ll .~ <"~j ~'i . o
apply to the following : [..... ]. ( ) :~Lo
ii.: authorizing release of goods : j--l:. (l_)'j~ ..)j'jl T
\~\....<..JI PART TWO .,.:.L.:JI .;.i.J
~Ul•,4=-11
· · fl f Ji .ll"' • t .• ..,_ _;\..h;..".1 ·r ELECTRONIC COMMERCE •~~uu~µ
iii.: giving notice 0 oss 0 • or __.._____.. .rr.r: ,
~~~~~~_:._d:an~1=a~ge~t:o~.g~'o:o:d:s;~--~~--~~~~-!~t'~·1_0~?1_1......iti_·~~~~~~-r;~~~~~-l=N~SPECIEJCARF.A.S~~~~~~~--~-

(d): giving any other notice or statement _?i ) .)! JI _;\..h;..I .s i ~ _;, . .J CHAPTER I. CARRIAGE OF Gooos
in connection within the performance !.li...11 "11il11 ~

of the contract; Article 16 I'\ t.ll..ll

Actions Related to Contracts ~ Jil:i ~ J.ai;I
.
(e): undertaking to deI rver goo d s to a .~ · ' c.rI\ t' 'l..:AJI. r--.
_.\ ... -.. ··-''I__.
~ of Carriage of Goods
named person or a person authorized ~..,JI Ji r--''14 j:AA
to claim delivery; \ µ4 ~U:.....l4 "-.! ~JA Without derogating from the provisions
of Part one of this law, this chapter
(f): granting. acquiring, renouncing, JI ~L...4,JI u------9 j_,b &-- (J) applies to any action in connection with,
surrendering, transferring or JI ~ ..,--h:iJI Ji l+!l....US! or in pursuance of, a contract of carriage
4. For the purposes of paragraph (3). the 4.Y fa, (r) •_foll u:ai_;e)i. l negotiating rights in goods;
standard of reliability required shall be •~ _,lh.JI ~_,.:JI
~ y
assessed in the light of the purpose for ~I Ji; ~l .)A ..,~1 i.>a.fa.11 (g): acquiring or transferring rights and J,,__wl J_i; _,i yL......:lS) (j)
which the right or obligation was ~ • ,_...;.,.)c..J i"I _;J)'I _,i obligations under the contract. ~~.;JI ...:.il~;-1,i1.,,
conveyed
circumstances,
and in the light of all the
including any relevant
"L..i:i) ._si J.lrl ~ La./ , u J>6JI
. .>"'14 ~ jfa.
. .li...11 l
agreement. Article 17. Transport Documents ~I ..:.I~ - IV ~JL.ll I
5. Where one or more data message are ;.~IJ wl.i4/ ;.Jt....J ~I _;,.,. . o
I. Subject to paragraph (3), where the L.........l.lc , (r) ;;_foll ,.~!-! ~.J . '
used to effect any action in J._...dl.;1 04 J..i (..)i ~ .foi ,1
law requires that any action referred to ,j........A J..9 .s i ¥J:i ..;_,.;till .bA
subparagraph (f) and (g) of Article 16, ( ,) ~_,&II ..:,):!'.i pl ~ o.l) _,II
(.)I u~ 'J ' ' , o.lWI 04 (j) ,
in Article 16 be carried out in writing •.lL.....JI ~ Y! .Jt..!..JI Jw)'1
no paper document used to effect any or by using a paper document. that r1~4 .,,1 "-!t:;SJI i>l.i.U..4 '' ,
such action is valid unless the use of J._.i ..sl ~ ~ ..,i.)J .lii......
,._.....:., r1 L.. ~ JW)'I .!l.ti jA requirement is met of the action is .!l.....Jj .)~' ~.)J .ir.......
data messages has been terminated carried out by using one or more data 1"1.i..;.:;.__..4 ..J__...ill j&j I j.1 .b _;.:.11
wl.i~I Jjl...J rl~) J- J_,.i...11
and replaced by the use of paper message. . _fai _,i o.l..>..l .J ..:.Li41 'Jl.. .J
,.1~4 ..!L...li J- .iw..LU.....)'IJ
documents. A paper document issued
J._.S .....-9 ~J . ~ .JJ wl.lii......
in these circumstances shall contain a 2. Paragraph (I) applies whether the .s ~ . 'I'
statement of such termination. The
.:i....... .....-9 ~ u-i.JJ .lii...... i......;..:;I .1 _,....._.. ( \ ) ;; _foll
~l)A~) ~j J1,,,.)'1 requirement therein is in the form of $..!. ~ ~ .ya _,.4.i...11 .b _;.:.11
replacement of data messages by .J--&. .iw..LU.....'JI y 'f. 'J .J . J _,.i...11 an obligation or whether the Jaw .l ~ ..;_,;Lill ~ ~I _,i i"I jil)
paper documents shall not affect the 4.J.J ..:.I~ ..:.Li~I Jjl...J simply provides consequences for ._,il _;,......._.; ._..;]I ~I _,.JI .)c. ~I
rights or obligations of the parties 0--4 _)JI wl..l y.l) } J_,h ~ failing either to carry out the action in J__..ill ¥J:i .Jc- L..) ......ih:JI u1c
involved. .~I writing or to use paper document. ~ i>1.i..;.:;.__..1 ~ _,i ~ws
. ..,!.).J
6. If a rule of law is compulsorily l_.+.1)! ~_,;tio.leli ~I l:i) . 1
applicable to a contract of carriage of .. ;· 0i2 ~~I Jill .lie. .)c. 3. If a right is to be granted to, or an ly.11 .lti....l '~~\"·------111
goods which is in, or is evidenced by,
a paper document, Jhat mle-is-
~~'·• '~·=·=··~==f°r'
1
.~;~!\:._,~l~u~;;'.J~.J~i;r·,
t. :;1 ·
_:· ii,.~
• .J.J
_.,..,;.----~bligation is-to-be-a ire y, one • ol>-'"' j.J.l ~ ~
person and no other person, and if the J.,.....;i.i ..;........... • l)yl.i.ll .b~I lj.lJ
.)!

evidenced by one or more data
messages by reason of the fact that the
contract is evidenced by such data
messages instead of by a paper
document.
7. The provisions of this article do not
apply to the following: [ ].
I~ .)c. ~I·~ o..lc.l.i.ll law requires that, in order to effect _,i J.......:JI .ill.l Jii,i wi • ..illj ¥J:i
~ .;i_JI ~l.w..,JI Jill .li...11 this, the right or obligation must be ~~~I .ill.l .)1 i"lj'.J)'I
_µ! _,i ;,.i_:..I s 1.:L ....i4/ ~\.....J conveyed to that person by the ~~, ..).;_, ~ i>l.l.::i..:'i....l _,I
JI ~.J ~ .li...11 ul .)~ transfer, or use of, a paper document, .,,1 ~I .ill.) Jil lj) .by.:..11 .ill.)
(.) t>-- 'i .l! 01' ..:..Li~I Jjl.. .J that requirement is met if the right or ..:..L........;41 ~\.....; r1.iii..4 r' .Jil)'I
. ..).J.J ..u:........ ~ obligation is conveyed,by using one or 1"1..i.:;..:,_..,1~~·..fal_,i • .l..>..I_,
more data message, provided that a ~~~pl~~.J
i, .)c. •.iWI .~-~~I .;~ 'i . v reliable method is used to render such WU~I Jjl.. .J _,I wl.i~I ~t......J
( ·· · .. · ·· · · · .. · .. ):<)! data message or messages unique. • ~ _,; l.J..o o-l:!..) ;,.;fi.:l,JI
 I
.;.JUJt ~, .I

--~--
'1

~L;Mll iifQ~gllg fill.5;11~;JMi I

j

1
 Jg!.11~1
I ..-. I~ ii.AMJg
u- g -·
ii.lJ~I D.bLwgJlg DJl.5gJI ;i~

: a..... J U::J
. I Ab L.., -,...ll 9 iii!.= ,...
- II .. . · 'U 9 i
v.o.- i:i..c......b
ii.ii II

1.1..!.l.ll ~_;.!I ..:..~I d\..h; tL...;IJ' ~I _,....._JI~ LS.J4.:ill .bl..!..l.!1 .l.,!ljil l_;h;
..!Ul .:.F- &' J . ~I e;'" o _;..!.4-o F!I Ji _»t.ll J..W:! .) ~I _:,... ~i , ..s .J4.:ill
~ .u,J.. e;.o ..;.L:l.\.a..JI iJ.o .u..J... y,&:o ~I J F1' JI _»t.JI ~ J,.\..::..ll ~ .) s .JJfa
-"J;.L...._,11 J_,_.ic.' '•'1· ·'i ~ J_,a...ll iJ.o ~_,r... LS.ftl .J_,- ujy t.:.. 0--J, .. U......_,11
~_,i1,, commerical agent LS.J~I ~_,JI .lie. J_,a...ll .:i.. jy,l .:,...J. • ~.J4.:ill
tj~IJ, commercial representative ..S.J4.:il' .;....JIJ commission agent .u~4
. commercial distributor ..S.J4.:ill

r-"J · .. ::L..S_,11 .. u......_,11·'lJI1 t.... ~.J 0.!CY .)! l>.!u4.:ill .. u......_,11 ~ ~J

.. :;_s _,JI r-" <- 'J _µ J , ~) ~ Ji:W 'J J F11 yl....:..l w..JI .j~ .);ill .. U......_,!I
~! ~ U:!ill .. U......_,JI rJ'J' .. ::lS_,11 fa. .. U......_,JI' : l,J~. -'. .1~4 .. ::lS_,!IJ 0Y..J4.:iJI
..;_,..~J , ~ ~ ~ l_,l~ F11 iJ.o w..JI .. 1~ ..:;_,..~ ~ , F11 .» w..JI ~
'~j_,..ll' c"-""-1 ..'J_µ _,--le.~-' U"'~I !'+11....:..lJ ~).,i .. ~I t-4 ~I J_,ic.
. (')distributors

, ''\'\o, ~yJI ~1 j:i :.~\ill• ~)'I ~j,:!l) Jtip '...s}~ .r,Li ..:.._,;..... .:i (')
0 <...>""

- Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. cit., (Y)
p.604
 .i...-.. ~consideration ..!.!Li.. ..iF->J 4JL.. .)J. consensual relation "~Li'..! .U)lc.
_l'l;ul.S, .U::A.:. l..i~i ,.:.i_,;lill .fa.faJ. L.:.:.:!i contractual ~..iiW .U::t...11

~Lill ..J..- ..i...:. principal ~)'1 ~ J...c ..si ,1..i'i o..ilL ;u\S_,JI ~) ~'
~ 'J,, ~l a; '~ J..iy) ~_;.JI jl..c.)11 ~...!JU.. ..J~ ..illj C;"J. ~ylill
~ o..it..,..!JI , ..:..4~)'1 _) ~_,.4.11 JL...:.)'1 .:i. ..:,,..., . 4-! r4ill J!SJ ~ ,i ~_,ij
~ ~1.S,ll .!le. .,s~I .s-i.i...11 .jylill _? ..liJ. ~4lJIJ 4.ll.S_,JI ..J;.! ok .hb...11 f>oJ , (T)tJ! , ~) j....:. , .o..&.....JI _) o..it..,..!JI ' _;;!.'. ,
~' j...JI >..ly ._,:.II oL.......ll ..i,WI ..J:.'! ;iJl.S_,JI .lie. j...;j' rlL ~Y. ~4l]I f::,..:O,...
L....JIS,JIJ ¥.i...11 4.ll.S,JI ..J;.! ~I ~J .<')..:,L..lj'.J:::U ~WI ..ic.1_,ill ..J:.'! ~4l)I i..i.,... ~J agent ~_,11,, principal (i) J,-....)'1: rA _;1j..i A.:.)W >..ik. 4.ll.S_,JI .lie.~'
.jl-£ ..J!.......-9 • J!S _,II J $_,.JI ~ J , 4.1..\......JI ~ : t.... ~ .J ..J:U~ I.ii J ~.Jt.;..:lJI ~I Wt.11 a.)11 ~YJ . J!S,JI ~ J,..~ .,s:i.11 third party (t) ->-"'11J •( ,)
~.J~ L....Jl.S, ;ul.$_,11 .jfo ly.l:i J!S_,11 ,i $_,.JI .jlSJ, ~.J4-:i ~ :UlS_,JI f::,..:OJA : (')4.l\S_,II .jyl.i ~ J~ _;JI yl....:.:.ill J
~.J~I J....c.)11 ~ j.i..~ 'J ill_,JI f::,..:OJA .jlS b) L..i . ..S.Jt.;..:lJI jylill ..ii..JI ~'
.!')~1 .jyl..i.ll ~J, ¥.i.. 4.ll.S_,JI :_;fo ly.l:i J!S,JI ,i $,.JI fa ~J W\.h..Jl Ji ~_,JI t-" ->-"'11 .....yi ..lie. .ui~ ~ ~)'1 ->-"'11 ._.....:.nli:! : (i) .w. (t)
. ~_,II~) ~ ~ ..:,L.:.:.:!~
_;. _,;L..i ~ J!S ,JI ~ i" fa. ._;JI ~..iWI 4.ll.S _,JI t I _,;i ..:,,... lL y ~.Jt.;..:lJI 4.l\S _,.ll ~ J ,i J!S,JI ~ly ry.oll ..ii.JI .ul~ ~ ~ ~ (,) .W. (t)
J!S_,JI ->-"'11 ._.....:.nli:!:
j ..,,_.j ~..iWI ;iJI.$ _,II ,:,;t:- ~ ~.J~I 4.l\S,JI .jS.l J , ( .s-i.i.. i °' °' e ) $_,.JI ....,..,~
-..s~Uu...,..,~)~
y.i ..!.!ti.. ..J)li>...'JI ~J >
j...JI .,illj y!.4.!,' "--! rfa. .,s:i.11 j...JI u~ ...ut.;..:ill J!S_,JI . ~)11 ._.,.~_»JI C;" J!S_,JI .._...>!!..lie. .u]~ ~ ->-"'11 ~)ti ._.....:.nli:!: (i:) .w. (i)
t L...:i...'j I $,..JI >
J!S_,II .bfo ,) o..i~I ..::,yi. .Ii J . (')$,..JI .» ~ ~ ;iJ ,_,.,:. ,i
j.>...i:.l ~ ;iJ_,...c oJl....i. ~.J JfS,JI lA..i,&; yl....i. ~ ->-"'11 JfS,JI ~ti:!: (t) .W. (J)
~ ..>".J~ ~I ~I_) o.)#- _?.I~ ..:...4-'.UJI ~ ~y.AJ J!Sjj ,\.k,I .jt:- . ..ii.JI .)->-"'11
'~I .b_;-...:· ..l;......il ~ ~ L.. y. J , J.l....:.:JI .,illj _) ~i ~U/'i .? <l,t...:.; J!S _,JI ....,...._,.1J .Ji... ..;41_,J ~,JI~ r...ic. ~ o.Jl....i. ~ jp_,11 ~)'1 ._.....:.nli:!: (J) ~ (i)
j.....,,.S,JI -s--1=- $,..JI J..1_;..:-1 ..s", .,s_;.>..i •.J,._J.L..:.:JI 1:i. b.~ ..ii,. exclusive clause . ..:...~1.1.t.U..
_11)~1 ~ _) t_,:JI ~..:,,... ..::,~ ~y.AJ ,,s_;.>..i •.:..iY.f.y J~ r..ic. J.Jt.;..:iJI j.....i!I ~Ji, ~jJI .JU.)~ d~ )y.Oi ~~°';I jp_,11 ._.....:.nli:!: (l) .W. (J)
. ~ ..:...L..~ ~ ~ F J:- ,i • i):.W1
~ ..,i iJ.o...11 ol.l L.. ~ ,) .)! ~ .Jfo ~ agency • 4JlS, • ~ r~>
car ..:...I).~ ill,~ L.. ly.l:i .:;i Jl.i.! L...llc. ~~ L&... _;.>..i ~ lS.1.. ~ ..:...~ L.......i~i,, disclosed principal • '-'J.J"-" .J.J.-i • · ~W ~~..- -~'J.._6.J.ll.l.r.JJIL-:~~·-!
0 ,------m----
,....,..,.t- >
.J_,.....i. .,si , .,s,..r-i ~ ~ ~I ~ • .i " . geriey • J . un 1sc ose principal J~ ~i ~' • ~_,... ~)11 ~ .:;,S:.
~J. •ii a> ~ ~ ~ 'J ~ ~i ......i.). ~ ~~ u~ o\,j~ J!S_,11 ......i.fa.:

• .,.....s.t ,.'ii t ,f ,......._..JI (~ ,.;l...&JI ~ ~,JI .lil:. ~ ~ tll • .s J.Z ~I .J.iC- ~ •J ( \)

.. Ronald A. Anderson, Business Law, 11th. ed. Cincinnotes. Ohio: South .. ( 1)
t ~, \ HV, ~fa.JI-......~, l.i_,b.11 ~:~fa.JI Western Publishing Co., 1980, p. 529

.. Jbid.p.321 (T)
\, o ~, ~y-11 ~I .)J: i_j>till • '-.i il.Wll J .a.JI, .ijli ~ ~ .J ('") .. Rebort N. Corley, Eric M. Holmes and William J. Robert, Fundamentals (r)
of Business Law, 3rd ed .. London: Prentice-Hall International. Inc.,
1982,p.426
 'or

: master - servant .-.aU.l~.o,...Wl :Uk -t'

..:...'J~I .i.......A .) ...,;).! ..m:i t-" s . territory L. ~! Jo..lJ ........... ~ ~ exclusive right
. (' )':"~;.11
e:.- J;.,.j
. ~L; . ·
l..>4 :::L!>
• -' · -<-'J
.» \:;JI ...;~
~-' . ..:...~ c.lJ°'J ...... ~ ..s.ll ui.._,.. j..~ ....;4 servant "rJWI" ..Jylill --:...>--:!
master- r~4 r_,.l.M.11 ~ ~ .:;).! ..m:i t-"-' · rJLiJl .)..ill --:.~1.) ol,:;....JI 1feU ~ J_,°'JI ,) .) ...,.,1~1 ...,.,_,.ll.Jl.J -.S.J4-:lJI J.,..JI CF- -.S.Jt..,..:i.11 ~_,JI~-'
~ _,i ~6...JI .)! •.JL:..'/1
.:..l.ht..:.ll _;:it.. .fi.......11 ..J.o ~ r-J_,, "-.il..j _,J_, Ji servant ~u .jl fa yl ~1 y _,.ll.JI .J ..s .J4=JI J.,..JI W:! ' ~4 o .J4=JI Y.:,4.!J ~ ~ ~°'J
J_........ll ~~·~~_,.)'ii ~1 ~1 ~i_,. "servarus ' r.Ji.. ~i ~ \.+)i.) J-.]I Y..>! ~ J$ ~ ~J • ~ y~ ~'J_,' J-,11 y)
. "employer - employee • J..W4 .(Y)~_,.;li ~ ~ \.+l4 ~:ia....JI .:i,. ~J' J-ll .lie. ~J J-ll ...,.,..,.~ j..WI

'J..... ~~. J.y>&: j ~ tfaPJ. J-.11 ~~ J;Wl 'J_,.;.... ~J j..WI faJ . ~4>11 .J 4..llS _,]I jH ~_)A YI .;_,.;Li.II 1.ifa. r-1 (S y...a.JI ...-iJ...ll .:;_,.;Lill .j.o u-&ll .)<:. J
..>-41J°'J\.4b ..j~ .iJWI .:i,..) .l:!j .J . .:..~ YJ.li.. ~J.) "1.l:!J fe\::....) Ji ....;i_, .,s-i J_,i..lll JiS_,]I J.J~ t.....llc ~y°'JI w_,llill .) agency law 4..llS_,]1 0_,.;li oJ~ ~-'
.» ji:i..... •.Jc 4..llS_,]I u_,.ili ~

I
.j\--J ..s..>----3-i ~L; ..J.-J. ~ c.\ili ~ --:.~1_, l+'iJLM ~'J _,, J.>4' .;_,.;LJ ~ ~ w'JL-+- ..ill:i t'".J , ~°'JI .y;. ~~.lie.
. .l:!j "-,!J):! ..s:i.i1 J-.14 ~ ~ ..m:i .i.b. ..J.o Jt")r1 .)<:. _,i • .l:!j.) A -'>"' ... J~ ~~~I ~_,L-....JI \,/Wai wl ri'-.JJ. law of tort ~~I ~_,;....JI
w).i, JiS_,]1_, J.:.,.a°'JI ~ 0-- 'J~ master and servant 'r.JWl.J 1"-'Ji.....JI' ~
J._..c. -L..f'k, "-!~Ji_, J.-ll ~~ ..._.~ .,s:i.ll .,sJWI ul.o_,...JI .:fo JiS_,]I ~J . (q.iJlS Y.11 UY
· 'Lil t°" I Y.11 c.r'· J' 'Li.II ~I . ~ · L:.. ,,;; ~· .. ,&-..i .11 ".)1.5
U . _J-
, ...5.J~I ...L..... •)J'/ t.. ~ J-,11 ~~ employment relationship
ul.o~ Ji :i)
..:::L..Ss ..J.J~ '1 .. '1 :y. .fi1 , -1,jl;>:u.. ~_,...::J ..s ).~ _;,..... _,i ...,.,1 ~ ...,.., _,.ii.. ~ s .) _,I
J..L.Sl4 ~ ,...u j--a ..m:i ~ ~ j...c. ~ J-.]1 ..,....,..~ t-" ..J~ Y- ~°'J agents
~ ......__:;~w.) few1 ..J~ ~agents .. )lS_,!1 t..l. ~! l"J&.-' -1,j~-' •JAl_,°'l I
. J.:-11 _, fe\:;JI ~ c. Lh.._, J Y"-" eA _, , y,i.11
principal-agent ~~4 ~~I '31£ -\
r.I
:employer - independent contractor J,b-.11 J,ll.14 ..).All ~I.a :Uk-!"'
J~ tfaJLi.:lll ~ .i...ic. ~~-' J$_,...JI c--4 u~I _)c. JiS_,]1 "51~ ~I .:i,..)
, .........:,~l.J.J J_._$_,..,JI J_,b. .)<:. yy U::L..A.11 .:i,._, . .?JI t-° 4--1..>!).J ~.J4=JI ..:.\ii-JI
~1 ..ill:il L. ~ J.-l y._l ~ t-" Ji~ -.s:i.ll ~1 ji:i....JI J_,li.JI ..._; ..>--:! ~4 ~ j\Lll ~ ~ _, . JS_,...JJ ~)... ~ _,.;li ..:...u ~ c.lJ°'J tfa _,a.. ~_,]I u).i , .j.o_, f'
~~ ji:i....JI j_,Li.JI fa'i.J. ~

~~ ~
Jil.L..JI J-ll _)..i)I
~~J.:...:a~>'J_,.~i~..si~~~~~,w~~~u~.
..:...L.Ji.. ~ > ..il!WI ~Ji~
..J ~ '1 ""-iSJ_,
__
~1J4 ~ ~
.,s:i.ll j_,li.JI jL.......JI Li.J1., ~ ...tJ,....1_
J ~~~~~~~~~~~~----M
. y,i.11 t-" Jic..) J$__,...ll rl)) JiS_,ll

-----1;·=*!·_yul <g].»-" 3 • ' ......i y!'/I ..) ~I Jlh.. J_,li.JI 14) ~

~ 'J _;....- .UWI .:i,. .) proprietor ..il!WI ufa 'J ~~ ~-' . lf-! • )IJI ~ .;JI
in L:i~ ~~.JI in contract ~J!W 9_,l..... .. 1,,.. Ji,;.....JI j_,li.JI JL.ci ,:_p. y,i.11
- Ronald A. Anderson, op. cit., p.529 (')
~ ~ .u.c. ~ ~~ ..mw1 uy..:.J ~.UL.Ji.. J_,\i.JI p_, 1:i) L.. 4..lb _)_,. tort
..;_,;L..:ill ~J . (') UlS, ~ ...iw1 .:i.. .) ~I ..:.ifo • ..tllWI u1Y.:,,1 ~ .<...U:.
. 4.JlS_,11 .,;,,;Lil ~j ..il!WI_, ji:'i....JI J_,\i.JI .JH ~I~ ~y'JI
- Robert N. Corley, Eric M. Holmes and William J. Robert, op. cit., p. 425 (T')

- Robert N. Corley, Eric M. Holmes and William J. Robert, op. cit., p. 526 (') - Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. cit., (t)
p.605
 ·I
\00

r
'" f ':'-".\'\VI" W>.! v ~) '4 U.). ~>! .li...11 uk ~>.! 'iJ' ..J:!~L.U...ll ~jJI wl.u.L.;.ll _}.j~J' jb4JI c)Jli..J' r.li,JI .)_,ti. :ji:.....JI j_,li..ll .U:....,j 0--J
"'- .(')(AV'\l.>" :ji:.....JI JJli..ll ~, ~.l:Ul .i..,i]t.JI J..l,.JI ..~J. l+:lc. u~ ...:JI ul.u.WJI u~

~ J.,...ll J:......Li:j ~ J.,...ll ..,..u-1.....o t.,..... .J~ ...:JI o .)..:.JI ..s.i.. y.L. - \
\' J.,...ll ..,..u.L.o ...J= ,y <.....ilii..... LS .J~ J..c. JI ;..; ..>"'-! r fa. ._..Al;. _,..JI ~I JA - Y
.:;_,~ u__;u.,. ~ u....1-"" ~ ,.1, J.,..JI ..,..u.L...:. ~;. ~ oJU:. ~ J..,...JI..;. -r
I' '--''Y:!
I' j......11 _:;l.S... c)! ..:...I.la.JI ~.Ji' .» J_jj..w J....jl ~t....... JA - f
:express authority ~,.11>.!~I-\ I' J.,..JI ~L...:. ._s.ll ~I~._;... :i_i... -o
I' J,.....ll JWS) .llc _,I ' u;_,14 JA : fi>YI ~~I y_,J...YI J4L.. -1
~jJ ~_,JI ,,Lbc) ..Jµ j\:..JI ~ ~J. 4-!tiS _,I 4~ C':!~I u.AJ_,iJ.ll .J~ .li \' .....Al;._,..JI ~I 0-- ~_,lb.JI 'O.Jl+..JI ~y isAL. -Y
.;...._, . J:SjJI (notarization) ~ o.ll.c ~J . l...,i...>"41....:..,i_,i:i ~power of attorney
µJ4 J.!$,,.U ~special power of attorney t.......i.... ~jJI 0fa ~ 4..lts_,J1 ..:...~ JS ~.JL...;>.::JI .J-...:!.i..::....ll, borkers •->--""lA.JI ~ t....:..,ii ~..><YI 4..lts _,JI 0_,;li ~-'
J._.p_,11 ~YI~ ;_>4_,i,i general power of attorney L.tc .:.ifa ~.,' o.l.i:...... JL..c.4 .._..__. ..S.>--'Hj .tl!L.JI ~ ..J>:1j ~~broker .JL.........!1 J...c ~". factors
. ~ ~~ ~.J4-'.JI uw..-11 JS o Y:~ real-state ul.JLi..ll .JL......... ~Jr.JI J:!.... ~J . ..:..tst...... JJ4J _,i ~~ ~ ~
•J4-. ~ J1,i -.....ii .JI.WI ..JS.l_, ' _p.i ~ .Jl.W ~ .:y;. ~ W._,&.. broker
: implied authority ,..i.alJI >.!~1-r uWl:i......ll .. j~ ~ ' .JL........JI v&- ~ ' "...i).i factor LS .J4-'.JI .i...Ua.....11 L.l . .tl!WI I'

,,l~l_,~I ~.? ~J' W \....:a_,&. ufo.J (~~I~) _p.i ~~I ~

•J:S_,JI ~ ._s:ill ~_,JI ,yo~ JiSJ...'jl ~J, uyJ.l \4b ~I u.AJ_,iJ.ll ~ .!'l ..........4
Ji_, . ~~1 u-A-:!PI ~ J_,i.... JS...!..i i.S.J.J.fa .i...;I u-L..l ~ u.....o ......._; ~J
.) ~1 .......i_,..14 ~1y ~ 0fa 01 ~ ~1 0-- uµ , wyJI ~ rfa. ~1 u-<>:!_,Li.ll .i.._.ic. r'..>!! 4..hL.. 'i_p.,. ~U:. ~ ::lp_, real-estate broker ..:..I.JI.WI .Jt........... ~'JJ
~ ~_,;.:; \...:a_,&.. wfa ~ Jl~I u~I y _,.ll.. 0µ ' jti.JI ~ uk J ... J4-'.JI _,i ~WI ~ ...-k o.lUo .JL........JI 4..hL.. ~ :i, ' .JL........JI J!..uJ l..jl.. ufa _»i.ll ~
~ t....:..,i.,&:; 1...:a_,a.. 0fo.'J .li wsi_,' Ji.-YI w.):.ll ~l...A,ill ..:..y.,.ll. ~ J~ ~ _?.'ii w.).JI ~J:!_ Lo.lie. ~J. JWI ~,, c)! :fu:j'J ~J ~.,L......11 wl.).YI ~ LSy..:...JI
. u-•'-11
. ~ o.)~
· ~\....:.:ull. ...r- .n. ~l...:.:ull. ~· • ~-
·.<~ i--
l.l-..ic ~'J _p.'il u.).11 0-- offer L..:a_;c. "'-""' JWI 1~ ufo. ul ~'J I.lie. .JL........JI_,
• (T) .
.• D

~' ~IJ I~ .tlts_,JI .lie_, ·~I .lie. iii-/~ 'i ~yYI u_,ilill ul ~ ~J
~~I ~..:ii~ J,..al4 _,I J_,i.!4 J:,-YI ~ t...llc. <..>.JAU:.11 u.AJ_,iJ.ll .l.?->.! <fa .:f-"-" ~ ~I ~ u fa .liJ · ~ t..i~ ' .tll.l 0-- u&ll uk • <.S~I ..Jylill
L.S_, .~ _,i t...,i__,.-1....:..,i_,&:i \....;._,&..~~_,JI 01 ~.J wy..aJll <fa_,&. ~_,JI 0i J_,i... 0-:!-1 Y-:!fal1 ~ ~ .JL.........ll J..c. u)' e ~I .lie._, ~.J4-'.JI .tits_,JI .lie. iii-/ I.A~
..:..4-1lhJ1 ~ ~ t...,i...>"41....:..,ifa ~ 0fa'i .li Jl~I ..:..~1y.J.ll..0µ U:!l.J wl ~ ~1 ~ 'i _,.......J ' ~ .liWJ1 ~ L..,ii 0~ ~ ufa 01 u.J.l • ~1 ~1..:;-; ~
~ -...;µ ~'i., ~_,lb.JI ~l......a.,JI ~j~ .l.?-.f>'i Jl~I u~I y_J.ll.. 0YJ. 0i4)1 0--

- Ibid, p. 526
(')
- Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. cit., (")
pp 626-629 - Ronald A. Anderson, op. cit., p.230 (Y)
 - :::L...:i.. - ' JJLS' L.. Liyj.) U.OP ..JS]_,, ~I ~ w...ii ............. u-'>:!fa ..si "-!.l.i
..:.A~t..-.ll o_;IJ) .)) t4-JI ~ •.J-'~ l"fa ..sill' l"Ji' YJ.ll..Jl .)) ~I .:_yU ~.) J~)
..:..l~I ..s.i.........,,) ..,i_,. 'J).S' .)) t4-J4 j~ jl..) . ! ..:..4t..-.i1 o.JIJ.1 l"_,i;.J .J._.....';1 ...s.ll
\'~_,a;~>'"! ..;\.S l"Jl .)) t_,i.i...11 t4-JI.) .. U:..l) j.)lS ~ Jt.i I t4414. ~j· YJA
...-J.1 ~I "j.JlS' 1+-.i~ ..;JI~ .J.......Yl Jyil o.Jfo.JI ..:..\.!~I ..;'J , r-:
~4.)'1 .J
:general agent.-Wl~,11-\ . '"-!_,ll...JI L...c.~1 .:_yU ,..::i..::....4 .J._.....';I .» ~fa "-!.l.i <".li ..)~ j_,i..... ~ J.JlS J\..Lic.,I
L..A:!fa ,.:,'i ~I -»-Yt .....iy.c:Li ..;µ, ............. _,I ~y-a u4:1_,A; ~ ~ ~i ) ~.JJ
.(')
C:''L....4ll1. ...>""
.• ~ l.i...JA Ll:.
,I , L.. Li~ ,i L.. ...l---.! ~I
.J_,..';1 j.$ >~4--! j.$,..Jl ..>- l"Wl J!S,Jl U.:.:.~ •

~L- ,:;--. I~ ~I ~I fa ' ..tlb jl,j,,. J . .J:!.-.o ,).S... t) jl...c ';1 j.$ o ~~
. L..U:. ::lPJ ~ : ratification 3,t...:111 .t

: special agent ,aUJI ~,11-t' ..JJ.l ( y) J- ~t;.; (i) ....... ~

l"L..i I .UWI .~ ..,i _, I A.l.. ..>">:!fa ,1 :WI,.. _,\ .ij ..)"-" ..li
..J_,J ,_.:...sill (i) ..jy.c:Li (y) Jii ..;µ . ~..>.l _,i (i) ....... ~ J:.i!.) l...) t ~.)~ .Ai (y)
.L.J ~WI.~ ..,i 4..11.S_,Jl ..JfoJ • u~l 1~ .)c. ratified .j.l.w:I Ji~ .:.;fo, .udl_,..
,J..c. .. IJY ,I~ ~.J~ U.L..... >~4-J J.$,..Jl ..>- u.:a,Wl ~I _y. v-oWI J!S_,Jl
. ~li.. ::lP_, J..,! ~ Jy... .. ly!J _p.i 0" u.:a,Wl ~\j . .J:!.-.o . ratification ~I ~~ ..:..l.:.;
\

: universal agent ,,.,.a.11 ~,JI-!" : agency by operation of law j~l311 :itl-f :.&J~,11 .o ti
I

,i ..,..:.L-; .)) l.lyli ~_,a;~ ..;JI jl...c\'I J.$ .. IJY J,$_,.Jl .» ..s",_.ll J!S_,Jl !fa~ .j--A ..)~ '"-:!1.i,JI ..,! ~y!JI .jfo ~ ..tlb Jl,j,,., I •fa Li~l ill_,JI L!.;; ..li
.:.;_,;till
,i ~I ..:..1_,i!L_i ~ ~ .. lk) ~:i U..i ..>-_,.representative~ jj......
~>"-! ~ L.......:i. .U\.S_,J} .jfij_, I t)_,.it.iJ} ·~ .. I.Sy!.!} ~4 .jl:- ::lP_, i.,;t...:J) .)) .J.l4
• .j_,lt.ill
~ ~ ..si J-.l blanket power of attorney' .._.;..41 .)c. J!Sy · _p.i ~ .)L.....
. "-!\.#- .. l..Jjj ..J..c.

: ordinary agent ( 11.J1+il' Ji;. ) 11J1.a.JI ~_,JI - '

• 4_,)IJ I ..,.S~I ~1_, I ~I_, 1 .,).!Al;]} .. ~_,_, 1 ..:,,_,..l.:....Jl 1 ~J 4.L,.} ,y._,
.~) I
11
I
- Ronald A. Anderson, op. cit., p. 523 (')

- N. D. Kapoor, Elements of Mercantile Law. Sultan Chand & Sons, New {l) - Ibid, pp 626-629 (')
Delhi: 1986, pp 173-175
\ O'\

: commercial agent t.S.;~ ~_,JI -Y

: .),! L.. .j~_;t.,:.11 .. :::1.S_,JI ~ t.S~'JI w_,.ilill I.ii_,

: factor t.S.J~ .i..:...ll .I

.i....:......ll
~L..S ~4 ~
~J . 4-":!! ~fa. ~~ • j4oo-! ~! ~
_,.i • ~~I ~ ~I ~~I w~I ~ t.S_;t.,:.11
t.S _;4:; J.!S J _,.t.S _;t.,:.11 .i....:......ll
I
I
.wi L..S ! ~\14 ~ j ~\ •_;~J. ~l.l.. lAly, ~I .1._,_r!JI ~>41 lS.J>-
. 0.fa.Lll .)) ~I ~~ ~ .. Lbc.)_, _y.lll ,.X....4 ~_,i..
~_,11 i'fo. .~.lie' .u4 ~_;t.,:.11 'Jl.S_,11 .lie. ._;.WI i.Jylill 04 1~ ~ >_.lWI ..:Ji~
JS_,..JI ~ i'..>:Y .lie .u4 ~_;t.,:.11 'Jl.S_,11 .lie. c.....i..>-:!J . ' JS_,..JI y~ ._;_,.;u J.-.! I'~ u4
~ ..,-:JI ~~I ..):. general lien rl.c. jl;w) ~ t.S.;t.,:.11 ~I ~-'
~y..Ai ..l_,ic. i-1.Y.! .) J.!S_,11 ·~ JS_,..JI ~fa. 'J_,_14 J.!S_,11 _,I LUL,:JI J,iS_,11_,
• ~l....o. ~4..):. J~ l+:!!.:. ~I ~U.:....!-u ,.,us_,..
_;Ui ,) L..S, .......&; i--4 .. ::A.-11 t:" :J_,ia.ll i'..>:Y J,iS_,11 ul y,t;. . J:....\11 ~~I w~I
c.....i~ 'j (~1) _;:..'JI .liw.JI t:" 'J_,_14 J.!S_,JI _,\ t.S.;t.,:.11 J.!S_,JI l+-..>:Y ~I ..l_,ia.ll
: auctioneer Jlj.Jl ~J .Y
_{')~WI 'J\S_,JI.) ~_,JI~ JS_,..JI ~j .)) >~4"o
le o.l\.c. u,-
• r..s--
. __i · -<~ ;,\jts... <..>'!
·LU.. ~ :1~ ..ll .)A • ,.\ '\.JI · .ll ·. -11 L1S ·
. <.s-i t''\....,o.,. ~
~ t' . L>" _,_. - J U:!"':!
_,._,.s . <.S ~I ~ J ~I ~ ~I <'W) ~ i.)Sl s , ~4JI J.!S s t...L..I .J4s . 'J _,..c.
_,1 ~...>- Jw) L>"t...1..):. rfo ~ 4J4 ~->'\11 i.:.i_,.;lill.) agency 'Jl.S_,JI c.....i_yU_,
..b....__ii particular lien u-o~! ~ ~ .ul .. U'.iJ...4 ._,,._,JI JS.) <.S.;t.,:.11 .i....:......ll ~
, ~~_, _fa.i ~ ·~ J-.14 ( agent J.!$_,JI ) ~~fa·~~
~ . ~_;~ .)c. J~ ~~I ..):.
.third parties y,&11 t:" l+-1 ..>h .l_,ia.ll J_,.,. ~_,w.11 .) (principal JS_,..JI)
: broker fa....-l) . Y'
fudiciary relationship ~I ~ A.£:WI U....._,J agency 'Jl.S_,JI ~ i'~J ~ s~ s , _>->.I ~ 0C- ~4-i ~~ ~ _,\ .. 1_r!J <'.lil..... J.!S s _,. _;L......JI
~I ~J .UI~) ~_, _;:..i ~ ,je. ~y_; L.. ~ c.....i~ L...l..il:. ~y ~I
.
~I ~~I • j4oo-! l..:.._,i... ~ _,. J . y,&11_, JS _,..JI ~ ~w ~ rW! .) ~t...\11
~4-i ~_,JI u~ t.S.ill ~I ~_, • agent • ~J' _fa.\ 0C- ~4-i c.....i~ LS.ill ~ -.......:.\!_,. ~I........,!--! lSJ&-..l e;'Y- _,I c.....i~ ul ~ 'i .ul L..S, 4-:;i fi'~
. principal ' J:..,..\11 • ,......4 J.!S_,JI ..):. c.....i~ LS.ill_,·~ . ~~I 01' .)c. jl;w'JI Jfa. 04 ~ t.S4 ~ 'J .uµ ~~I oj~ 'i_,;....
___ ...__l
-~ommission.agent-.tl:Jiill:;i .f I
~ ly!.4-J _,1, ~~I ~J .. 1~ ~I.e.~ 'J_,_J4 J.!S_,JI ~
.J_-Jl~~J-_;t_;. , ~ y · :;-;ID.l.) .U • • 'Jl.S_,JI .lie.~ .1.fo .commission 'J~ ~ JWI i>- ~ • . i~_, ...i.e. y,.l:.; ~-' • .fa.I ~ i:F-
o..ll _;'J L.:ds fI' ~I .s \ , ~ )1 ..l _,i...11 ,.>< 4J\1 u-oG. ~ ill _,JI ~ .1. _M'i J . ~I J
..LUS_,. 1.c._,y!a..._,, ~ :::l/li _,I 4--oJ US.... 'Jl.S_,JI J,... i.Jfa t.JI ..bfo L..S · ~_).JI
.J..-S y1:J'i1_, ,.w1 rlhlll l.ilh.. ~1 ,.:;1s IJ).i • 1.c._,y!a..._, l.l_,,._,.. ufa ui ~1.) .1._M
. ::il.4 .lWI
~I
: del credere agent t.S_µ...JJ i.>-~ J.fS_,il • o
L>""Li...:.YI ,_p;,, t,Ji • ~W.) 'J_,..c. J,U.. • .US_,...} 't.S_;..!..Jl i.>-WJI J.!S_,JI' ~
j
. 0-"L..;,,SJ J.!Sfi u~ ~ .J4J • ~L..l_JJ) JS_,..JI ,je. ~y_; J.!S_,JI rt""' ..lil..:i,i ~

: banker ~ J.fS_,il • i
~I ...,...;4- 04 rl..>J) ~ll.\ .fi!J . ~I J ~I.ill ~ ~ ~ J .ili,JI ~ ~I fa I

I
. _.u+-J ~_, .m,.11 ufa. t... 0-"J, ~_,I~ ~>41 ~ ~ .).j,c. UJ.lll ti..il
Y\YLJ"'••fa~~Y''~.i...:.... . .l (')
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• , ·•1 - "'".11 ~
.......,...)~ ............. ,,
·J.~I
. J
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•

: duty to notify }~~~I ~l.J -Y rl~';Y ~~ .J.!$_,JI ~J. agent J!SJ J:i_). .:;t:- ~4-o y,t. ~ ~ ~ ..;4 .U
.~\S_,11 t~J-4! ~\....:ii ....Jc. .)J ~_;.!I _;_,..'JI JS.! .,$_,..JI ).hi.4 .J.!$_,11 rJ.! . ..J..+.-YI e:" L..»- ..;I!. _,! L.S .J.!$_,JI e:" ..~1 .lio..11 faJ, principal ~"ii ,:y. .i_,;..JI
,)!.......! ~1_,11 1.:i......... ~J. duty of notification' _;lk;.';¥1 ~IJ" ~1_,11 I~~' ->-Lill ..Jl--i. ~ .JAJ, .lio..11 rly,';Y ~_,;till ~YI~~ J!S_,JI ..Jfo.) ~ ~J
~_,II ~ ~ ~'i yo°'JI ..:,,\,if' ,:Y.J . ~_,..ll _)) J!S_,11 ~~L. .,$ ~ .jyUll ~ ...si) .ill:i ~J. principal ~i ..;fo.) ~'i 'I.Al,, ::ys, ..;I~ minor
. "'-! ~ ..:,,I ~ y;..: .jl!. ~ WJ J • J..il4 ..$ ,..U .l'l.li.JI ~ Jji..ill L;_,;li ).A_;... ~I 1:ia .jl!. lj) ~.)>.JI~ '.::4$J ..Jfo.) ~

: duty of loyalty ~'i_,l\ ~l.J -I"

.fudiciary relationship Liill ..,-le r,&. ~ ~4 agency "Jl!._,11 ~ ~_,;
} _,_,. • ... I • 1.l...-:1.J ......,..,_.
;,I nol ~J -·~ ' I
...,_,.....,._, ~t . _.
U·i ~.Y
l.<'-11 ~ ·~ ~ .. ~~I~
• _ .J e:- principal ~"11 .:;t:- ~~ ~~ ._s.lll .lio..11..) ti.). agent ~,II fa'J •.iU:.
. _.>i.1~_).~
~'i .U!-i .u c,;.....JI ~µ wJ .J.!$,11 u~ L...l.lc.J. third party (~1) ..:.i~ u.).
'i ,,,,___. .J.!$,11 ~'i J . ~I JI ~"ii u_.>h}I -,...;4- ,:y. c.l.i°'JI r.J&. J:- ~_,......~i ~
: (•)4..,,j')'I
• .::..'JWI ...r .. ~11 Loi~
-"'ii .J:>W{' ..
U-, .
. undisclosed~ .:;t:- ~ r-1 ~i u.). .:;t:- "'-!~ l.i.ic. r..) lj)-1
. ~YI ...,.U4- .>- .u c_,;.....JI ~foll J\..h; jJ4"=i Ji • ..>4:!,Li .j~ u~ lj)-Y
. ...:;L.l_;J'i ~\'I c.l.ii ~ ~ ._:,......o 1:i.1-1·

: J=itoll~ ~~· .:;~1,

~ .J)U. o- l+!t....;$) ~~..>"-"Ji ..:..L._,L... ~I).~) loyalty ..'i_,11 ~1J ~ L.S : (r)..).! L.;i J!$ _,II ..:..41 J ~
..'J,l'---1 ~';YI ..:..L...o_,l...JI .:i..;... J:- ~I ~J. confidential 4J"" 1Y"I "Jl!._,11
.s-=JI ..::L.--J1 ..,:.1.,iJ ~_;4=>11)J"""i11 '-:!y.JI ..:..L._,!...JI -..r....i .JAJ. breach of loyalty : duty to perform ~1J)t1 ~l.J -I
.$_,..JI~ ..$Ji! _)c. .J.!$,ll '-iii.,.- agency contract .Ul!.J .i.ic. ..$ ~ ~1 ..bJ~1 ,:y.
.lf-;>.
L.W ...:;41 J c. I.ii .:j. J!S _,II ~ "Jb. .s9J . j......ll c. I.ii _} tj _,i....JI ...:; _;l+o c"l.i,;.:,,....I J J ,a...
: duty of obedience~~ ~l.J -t ~L:.J1 ~J ~: jl.j..JI ~ .)c-J. ~ ..._.U:. ~~ .lio..14 ~';YI~_,...... ..;).S
~J. $_,..ll ~l ~Y- _;JI ~1_,11J ~_,;till ..:..~I..$ t4J) J!S_,11 ~1' ~. j.....S_,..ll ~ J,,,___.
:J_~bll~~-d_,...._JI ..)~Jill insurance agent
Ll).hll Jl~°'JI .s9' ~_,l! JYH .U\,i ~ e_J. ~ly, 'i~ ..:..~I ·~~IJ.;W._-~~!'--t n:l ,:,...-s....JI ,:Y. ..J!i Jt....4 Ji rL..:..1 ..J~ .U..C. J,iS_,ll ._s.i}! t....i;c.J . .lio..14 ~';YI J:-
..:..~1'7.i.. .:;t:- (J_p..11 •$_,..JI e:'" _;Jl..!.:'.l1 _;~ t....i;c. _;~ ..!..~ ..,i ~ .ul ~,liable in tort ~~I ~,;...-u wJ 1 .........i.. •_;4Jc..1
·~~
~ ~ ~ I
1:) 0~
.. ~ . . ~ fW uJ_;l;JI .:..U\S lj) ..r- f
· •
l
: duty to account ..:.~ ~ ~l.J -o I
t
J-S _,..JI ~ .::..4L- .!lt.-.4 J!S_,JI c"~ , J!$_,JI .J ..$_,..JI ~ ~ y,t. ~L. .. >~ - Keneth W. Charkeon, Roger Le Roy Millers and Gaylord A. Jentz, op. cit., (')
i

1.,il.lf---11 , ~ J4.J. JS_,.JI d- ~ l+d.iJ ~~~I Jl_,..°'Jl.J .::..isr..-ll JS~ p. 611

~_,.JI Jl_,,."J ~ ~.1~';¥1 J.:S_,JI >J. ili_,14 ~~~I i.).o ~I
• ..:..4~1 .~ ~~'ii,, ~I .u1_,..1J - Ibid, p. 612

- Ibid, pp 612-616
 - ~I .......JlS·'I ~ :JJ'il ~I
' "\ ,.. '-1.; . J'

: compensation and reimbursements i..i......J..-ll ~.lJ u.a,.__p - '

, ~_,JI ..::..~ ~ ( ~fa--~ Ji ) ~ ~I ~I ~-3:!.:.) j.S_,..11 _..Jc. ~
Ji ..;:,LJ J~I J._.S .J:.- .._.... ~ } J.!S _,JI .)) ~ (.) j.S ,..JI _..Jc. ~ , ..!ill J.. ~ J
~· ~;\,. ...,-'· "'"LA:;"IA.16.
' j
...s-J · ·~·'l..::..bl·"~
.t. ~ .. ~_,..,.. .. _,.. .)>".'t....~1.1..,.
~ ..s- ''I y ·~1
~J. J.!S_,lJo~I ..:..U.l..:..JI rW! J~ t4-JI I»~ j.S,..JI I"~, J.!S_,JI ..:.,~ y,.b.;
....;)---.u...11 ~_,.ull ~.,JI.))~ .:;4 JS,..JI ,_~ t44 .si _..Jc. ~IJ'-0 JLi:i'jl I"~~~
L./i.)' ·~lj ..l~J ~J ~ & ..,le. Jli."'il I"~ A.16. ~J . ..:..L..~1.» s... ~ ~
. ~~ y,.b.; ~_,;....JI ~I J.!S _,JI ..,.)) j.S ,..JI ~-3:! , t4-JI I» jj... ,J~

4) ~ 04 j.S ,.JI I"~ • Jfo_,JI 0-- ~ ..:...~ j.S _,.JI yl.b WS .._;µ ' ~le ~ J
1- • U., ; It.... JP .11 " . ·1 WS . W....:.,, L.. . ..!lli · .e , . ..:..l....hll .!ll; ..l:.: 'J -
..s- . C" . - ,. '-"" J - JtM .J~J ~ JM.A l.;.L..
.
I"~ J_,i..... JS..!.!lli_,JI ~I_,! ~l.:ii J4-- ~ ~JJ.;-:..ll LI:!.J~I ~ Jj, j.S_,..11 yl.b
~I LI:!.J~I .:ib_;....) J.!S_,11 j~'i ..!ill t-°J. ~.J~I o» J.. J.!S_,JI ~~ j.S,.JI
-~)Ji,,..u~~,...i~~
l 1
: duty of cooperation u,wn ~IJ -T
J...tU...'il ~ ~J, ~41J .1.:ii ~ ~t.....J ~_,JI t;-- ..JJW!I ~IJ j.S_,..11 .)c.
~ lliJ .lie. J.!S_,JJ j.S_,.JI c- lj), Jr.JI~ .)c.J. ~41J .1.:ii J.. J.!S_,JI ~L.. j.S
.:;l.......i ~i J.!S_,J~ JI~ Ji J,fo_,ll ._,..i~) ~'i JS_,.JI ..:i!J ~ •.J_,....;... ~
.:.r-J. exclusive agency~~' ~1.S_,ll .:ii..!~ fal 'i!J • :W.Wl u..i.i ~ ..,..S~
. J.!S _,!I C 4) Ji ..::..~ o JL.,,,;,. J.. 'i Y.,... ~ j ~_:i ..:;\..:.

.
i

(')
- Ronald A. Anderson, op. cit., p. 537 •4=U4 ~WI ~1.S_,JI _,..:wJ . .j_,;lill ofa. Ji~ Ji ..).;i~I t.S~I ~ lli_,!1 ~
(") )~) ~ ~ .li ~1.S_,JI .lie. 0!J .)\:J4J . ..).;i~I ~ lli_,JI .lie.~ ~I ..,_.,..JI
. Ibid. pp 538-539 ~ ~ tJiJ..;.::. Ji, i.J:&A &.fat~~ JI, (~ ..:..1_..... ~)~•_;.ii lli.,lt
4J o.l.loo...JI •_;.ill •Waii) .l:ic. y;lit ~ lli_,ll w!J ~I.» ~J. ~..::..!Sh....~ jj...
~ ~ ~J. ~ '-l\.SJ!I ~y (..):ill ~ tJiJ Ji , ~I ~Jt.11 t~
Ji , .:ii..11 ~
" .. ~, ~u e-i-y-ll (t)
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;._,~I
'-' .
wlS-11 ~
r :J,~t ~t .

.>-~ ~~ ,...1.,i Ji ~ r"""'-! ~ ~ 1..5.l.lt ~,u · y. . ._;4 "-1_,.....Jl,i ~,It .....:.y-u

. . (' ltj _,...c Ji 0.foj JiU.. ...:,...j .).:. JS ;..JI

Ll _,....Jl,i J!S ,JI o jli J o Y,.:. _:,... o.iW...:::U lµ. "-3 _,....J\.,i ~_,II (::" j..L..::JI .)) ..»Wll 4J
µ _,ll ~_):. .fa ~}-~.:.it <l)L.L.... rW) .)) ..»t.11 4 ..i5J . 4-t:. ~ ..:.~I ~~ .).:.
. ..iS, ·"""-" j..w..JI ..,_.;~ _:,... ~ 4_,c..>- y,t:.. .:;fa ~J •.:N Ji• .)WI •JS.>- .. lb)I "-1_,......!4
~WI_).:.; J,.-Yt ..»t.ll t:" J,..L..::Jl J:- "-1_,......!4 ~_,ll t:" J,.L..::JI ~I ..»t.ll ~
~_,JI cJ--ilJ:! .:;Ll, ~l.bc~ ~YI ..»t.ll _):.~ 'i ~J ~LW) ~ _:,... ..ill:i ..J
~ ~ f> c?4U ~ ~J -.....iJl 4-t:.~t ...s~ JI, ~I~ ._,Jc. )I:.., "-1_,......!4
~ ~,.. .. t.....i .. lb) •.iU:. "-1_,......!4 .. :)1.5_,lt ~J. ·~ ..l:.J~ ...s_;...!..lt.:,... ~
. ...+i.J_,..c. ~ .. :)1.5_,ll ~ ~J. ~,.. (::" •.r!-4-- ~4j ..lSL.U .)) ..illj ...s.i>.i'i

U _,......l4 UlS_,ll : L..A ~J ~ _,; .)! rU:. ~

! ~JL;.::.11 "-llS_,11 ~I ~
commercial ~.JL;.::.11 "-llS,Jl ~ ~ L. JI• .iµ1 "-llSJJ •commission agency
..sJL.;.:.11 ~Jlt .:;i .i.;...; • .us,.. yL.....,J ~'-! "-1_,.....!4 J!S_,JI ....;~ 4-J . agency
.i~ commercial agent ..s~I ~_,ll ~ f' .JAJ. "-!L.....,JJ .us,.. r-""4 ....;~
U_,......!4 ~_,ll ~ ~ ~ ~ .JAJ, "-!L.....,JJ ...is_,.. f""'4 J,.~ ._s.iU:. J!SJ
~ ~I ~ L..S • .us,.. yL.....,J ~ ~ J..~ tS.l.11 commission agent
..sLJI ..»t.ll JI ~4 ~J:! L. 1.#- ._s.l.11 commercial representative tS.J4-:.JI ..;....JI
~_,JI~ ..illiS. f:_,...:...;...llJ ~I ~IJ .» ..ill.l "-! ~ L.J • J..c.. ~ "-!L.....,J J...... j
..._;µ J}jl L.i , ~~LU.JI ~ ..,...y.fo)I y. ._s.il.. ~ r~ JP.YI .) ~ Jt.......JI ..fa ..sJL;.::.11 ,
. l'l"-.ic. ~~ .i_,ic. r'.Y.'J u4o-lJ :us,..~ ~_,_;J ._..;_,;Li~ r~:.._----ttl\
'
. ~ • -~YJI ._,.t...i .)c. "-1_,......!4 "-3\S_,Jl ..lic..J ~WI ill_,JI .lie..~ ~I ~J
~,.. r--~..iSL...'..J J.-:!S_,lt 0tS t:i) ~U:. ill J .:.;fa Jia.11 0i Y y. .s Y.J . .lie.. JS rl ...>!!
ri .JL._.S 1.i.) ~ t'""'4 ~~ J!S_,ll .JlS t:i) L.i , ~! >_r!.t.,... Jia.11 Jr,i u~J, "-!L.....,JJ
, .j~ ..:..L.t _;JI, J_,i.:.. _:,... Jia.11 Jr,i ~) u ~ J Jia.11 ~ ~j li _):. .jfa. ~ ~ _r!.
• (r) "-3_,....J4 ill J "-lb.ll .;i. ..) Jia.11

- ~ ,_;,Jt ..:.l;W; - ',.ui.i)'I - J.. ~ I ;1 J '"' :,f ~ 1"1 tlill • Jal .i.- .lat .i.-
.......... ..l (')
e , I" Vo, 1 ~ W-1 ~~ '\ , ~_,.JI~ J.i :oJ"'WI , J.. ~ J tia.JI

'. s . '.r VoVo, ·fa~~>-,~......._.. . .i (Y)

j\S...........:.)11 .i:..i .b~I I~ ~J. ~I .by!._)<:. .UL.:>.:.) ~j;JI .lie ~L...:.;.. ("'i .j-e.J
:(')~'il~I

- .l...ia.11 ~ tLJI _ll..;i.... ..,.t j..l...ull ,.~ t..i,...11 ,.fa, ·~J. ~1~1 ~ J..y!.-\
. ~ ..iit...::..JI &WI y,i:- t:" tj ,_JI ~~ .)c oJl.c. ijl,A,'JI ~J . 4:!]::. iJi:WI tj ,_JI J? _,ll ~ ,j~ JS ,..JI l' fo.J
t---° ~I ~ tLJI J4-o ._,.t J..l...ull ~ ~I l' fo. •~J , ~I ~.by!. -Y ~,..JI,-~ W, A..ii.....:.11 ,-1...:o .:i~ j?_,ll tj,_ll e:i.:i ~J . .li..JI ~ .j-e ~_,:... ~
· . ~ ..iit...::..JI t..i,...11 y,i:- ~J , "-.!lS _,ll .ie-11 ~I ~ ._,.t J? _,JI l+ila:! _;JI .....i,/.)l...A.JI Ji ul.iilll J? _,ll J y, ).~
~ ..:..i~I ~j_iJ ~ ~U..C.) J- ~IF ·~J' j.)\.,il.J~ ~I .1.~ _.,.. • ('I .U\.$ _,JI ¥i:J ~ ......._ l.k, ,j_JJ .JY:.. .» ~ L.c. J? ,II ...fa.:!_,.LI 1..4,ii JS ,.JI >
y,....-:..."11 >F L.S' ~ ..iit...::..JI t..i,...11 J.,l..!.; ~ ~ ..,.t _?.I~ .li..JI
. ~w... _?.i ~ t:" j..\...ull J~ : U'J~I ~js::JI ~~.r

, ~4-e ...)#- Ji y!.4-e ~ u~I .» ~j_iJ .)) ,..:;~ ~_,...; ._,.t ,j~I ~
t--!)iJI ~_,.ll.e ~:;-Ji f:J.;i _,I.;_;_?..:; ~U.. ~~.fa J- y!.4-JI ~j;JI ~J
,:;&. Ji agents ~::i.sJ ~.fa J- L..) ~ ~~ y!.4-JI y,e. ~j;JI L..i , ~ •y!.4-e ~tJI
unique ~,JI ~j;JI : ~! .:.>- ~ ~j;JI j,3.4_, . distributors .:;:c. j,,- ,y,_->1>
~,JI ~j;JI .lie. ~J. selective distribution ~li:i;)'I ~jiJIJ •distribution
L....i , ..ill.i ~ ~ oJl.c.) .)i>:!I ~tu! JS ..s~ exclusive .:i;.o.J t..i_,.. .)c. ~I JL..:ic.l
.. •.I ..r.li:i;I. Ji.!.!. '.)
.... ..),..
....._. _. ~ . .)b:lJI
. JA · J..rr+: '-~ J.lC ...s- w·,;_,,J\ JL.'.ic.l. ~~
1- <:..- ..r.li:i;"I, ~.),..
' -~11
u.:i.)_,i ~I ~~I ..,>).~I .:,,_,;\ill 0-- (i) oJWI ~ tµ,. l~w t..i,...11 faJ. (')~~
J...-A,I Ji (rjl~ I.a~{; Ji~~ v
~yjlS .::,y__,;.;.,.;1 ~1,.r:· ~.)~ jL.c.)11 ~
~ e;.1....:a.,J1 JA t),..Jli · . ...:,y__,;.;.,.;1 .. ..i.a ~{;Ji tf! ..!JljSJ, ...s.J:if ;..J->- ~ ~
. ~'ii_, ....:.l~'il ~ .)<:. ..ill.i (.)".)~ Jl>J' ~ ~i
 I
I
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11

~ · t:::JI ~I .

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 "':!,.ca.i A.I L...:a 9 .:Ui..c. • I
Exclusive Agency Agreement

Chapter 1 JJ'il ~
Object of the Contract It ·11~~

KONE OSAKEYHTIO whose , ~L.... Ji . :u--.s :...s~ F

registered office is at . ................ ..,.; ~I I+;.'.& J
hereinafter called .. Manufacturer" grants ·~1· 1.il; ~ l4 l+:!l) .)L.Lll J

to A.B.C. Co. whose registered office is ~ J . ..s--"" . ..r--! . ~ :...s~

at hereinafter called 4---:!1) .Jl...!..JI J . . . . . . . . . _) ~I
.. Agent" the exclusive agency for KONE ::>........;s; -~_,.11" ~ ~ l4
cranes (hoist cranes) hereinafter called .JL.Ll1 ".:;§ ..;.u/i ~ 1.J_,.....i..

"Products" in the territory of Egypt ~ • ,:..L.~WI" 1.il; ~ l4 1+:!1)

hereinafter called .. Territory". 1.il; ~ L..:5 ""-:!l) .)L.Lll ~ ,..fo)
. • ..-fo'I ,.

Chapter II '-"'lj,JI J.4&l1

Agent's Obligations J1----_.,.1<_,JI..:.L-.ol_;.ll

Article (1) (1) oJW

Agent's Functions J:!S_,JI ~lf.o
Agent shall solicit customers situated in ~I • :::L.a.11 yl,.. ~_,JI u1 ~
Territory and shall transmit to ~i &'.JI ul) Jp.;J ' &'I' ..,.;
Manufacturer any offers or orders
received by Agent. Agent has no
~~J· ~~..:.i~4J.b:·:.:'~i:~:·~J:..P:_~-~·l:.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
. . . J]ic7Y.. )AA •
-------a=u•tnon 0 ma e contracts on behalf of. ............,._ \...-~•'..II I ·.N i ,_·,;'..II
. J..;. ~ (' J'f J C:....,.-
or in any way to bind. Manufacturer.
LJ..hl-! ~_,JI (' ~J . •~_,JI .J-e
Agent shall bring to customer's notice
the terms and conditions of sale ~) ~I .l:. J~ J .:. fa.! We. J!.-ll

(including delivery periods and way of ~.).J ~I . :.ilfa ~~ _)

payment) prescribed by Manufacturer. ~J .&JI ~ 4"""' (~bll
Manufacturer shall be free to reject any Ji tfaJ~ ~i ~.)..,.;~I
offers or orders transmitted to him by . J.iS _,!I ""-:!l) 4J p.; ..:.,~
Agent.
 Article (S) (o) o.JW
Article (2) ( Y) oJWI
Manufacturer to be Kept Informed .. e .. ~.P.'-'
~:'..II ·~I
1;..-:--·
Advertising and Fairs u-0).a ...JI_, ,:Jj q1
Agent shall with due diligence keep LhL.. )' .:fi.... ~ JS J,.$_,JI J~
Manufacturer informed on market Agent shall be responsible for all ~ 'i y._...... J!$ _,JI .J ~
.j.-e-
PJJ J_,.JI LIJ~ We &'.JI
conditions and on the state of J.__......>.! • ~ AJW.)'lu. Wli..JI
advertising necessary to promote w4-J.W) ~Jjill ~j)lll ...:..,\..;)!..::.)'I

competition. Agent shall further send to ~ I ..>-:!fa .)_,.....:. r JS J!$_,JI

Products in Territory and shall bear all .:i.., ~ts:;~ ~J ~)'I ~
Manufacturer every 3 months a report on . .u.h.:.;i the costs of such advertising unless jL...i.J) ~L.:.. .:r--S:! .JL. .:.,L;)U:. )'I
Agent's activities. otherwise separately agreed between the . ~ y..ll .):! .m:i .):!&- .s1=- J.,....U..
parties hereto. Participation in fairs or JI Jl_,_...)'1 ~ ~IY.:,)'1 ~J
Article (6) (i) oJl.JI exhibitions shall be subject to prior ~~I .JJ~ J-0.Jl.....JI

Competition Prohibited Wu....np consultation between the parties. . .J:!!y..ll

Agent shall not compete with JI ~I WU.. J!S_,JI ~ ~
Manufacturer or assist others to compete L---5 ' ~U.. ~ ~I o~I......
Article (3) (1") oJWI
therewith. In particular. Agent shall not cL.:i.i!, ~Li.~,~~ Agent's Financial Obligations o~ ~.,U 4L.JI uL...lft')'I
manufacture products identical with, or • .:..~ "+!t..:... Ji ~lh.. .:..~ Towards Customers ,.~
similar to, Products nor shall he acquire ._sl ._..j ~ u-1c. J~I Ji Agent shall take all proper steps to ~Li..JI wl _,b..JI ~ ~_,JI 4
an interest in any undertaking which satisfy himself as to the solvency of ..J--.:1:i.ll ~:::i..__.._.JI 0 .J..i.i 04 ..iS~ ~
. &'.JI u..9~ t J~
competes with Manufacturer. customers whose orders will be Jl.i.... ~&'.JI.)! ~416 Jp:i.....
transmitted to Manufacturer and shall ~&'.JI~~ .Ji ~J, ~J:!J
Furthermore. Agent shall not represent (.:P J,.$_,JI F ' .ill~~ 0 ~ J assist Manufacturer in recovering debts r--J L.J . ~I .JJ:!.l!I oJL..:i.....1
or sell any products, whether new or ... 1~, w~~l~JI~,) due. Unless otherwise agreed. Agent ~y' ~\j)U.~~ Jy,
second-hand. identical with or similar to JI ~lh.. , 4..l.....:i.... JI ·~~ w;lS shall not be entitled to receive payments .·~
....,-- L.._,\.,j
. • C";It.... .I~ ..
. r-: u·i ~t .c _,..
_II

Products. or any other products of any w~-si JI,.:..~~~ on behalf of Manufacturer. .&'.JI
kind whatsoever produced by an l+---:?-t..i~ r>----1:! t _,; -s i u-- •. S.J~ i
undertaking which competes with . &'.JI u..9~ t J~ Article (4)
Manufacturer. Agent!.s RoJe-as-to-Complaints- l.S _,rs;,:. 0 l+i ~.jll J.JJ
Customers ,..'.)! •• n

Agent shall upon execution hereof Ii..>.!~.)~ &'.JI JP_,JI .M Agent shall be entitled to receive .:..~1~0IJP_,J.J~
inform Manufacturer of any existing µ_,JI rjlJ t..;\.i wl:!ilil! ~4 .lWI observations and complaints made by ~ r-:::t-.11 ~.;JI SJ~IJ
agreements binding Agent with any ~ ... 1_,.., <.S.?-i .:.ii~ "-:14 customers in respect of defects in .r>ll w\.;UWI u-i oJ>'?-_,.JI . .,. . ~I
other undertaking, whether as a Products delivered. He shall - ·,;'.II ~_,.LC _1, ~J
-'-". . 1~••. 1 ' r',
r~J • ~fi...j ~4 JI ¥J Ji L,Ul..i \;.__,_.
representative, agent or re-seller and GI, _.....---
. .__,,,_ \;.__,,,....-
w ;;'.II t. ".A/!-!
I jll"
..::.u.l ~
immediately inform Manufacturer of any ..:.'i~I oi....A ~~I~
shall thereafter keep Manufacturer w t_,..........;ll Ii. o- l.S_?.I wl:!ilil! such case and shall act in the best ~1~~t...,.w~J
informed of any such agreements to be Jl_,_,.,)'1 ~ u-iJ. JP_,JI 4--~ interests of Manufacturer. ·"-"'Jj....;:,!i~
concluded by Agent. The exercise of u-- <.SY JP_,JI 4..!JU·• ~ yi ~
such other activities by Agent shall in no A..__.j\.9J-! <.S~YI ~YI .:i.......
 case prejudice the punctual fulfilment by ~1,.JI ~~I •4:i <\,jl,.l_;.l~
Article ( 10 ) him of his obligations towards . •.u:.......11
Assistance against Manufacturer.
Unfair Competition and Infringement
of Industrial Property Rights Article (7) (V) a.W
Agent shall watch the market and if Confidentiality 4; ·»
there shall come to his notice any Agent shall not reveal during the ,jy>--"" ~ l__jjj '1,... .1S _,JI F
infringement by a third party of currency of the Contract or after its , L..!.t) .J-&. "-.,j~ ~ JI .lia.11
Manufacturer's industrial property rights termination the trade secrets of • ~~~WI ~.J~I ).>"YI
or any unlawful act prejudicial to Manufacturer nor use such secrets for ..»-i:- ...-J ).>"YI .~ rl~I Ji
Manufacturer's interests. Agent shall purposes other than those of the . .lkll ._,;..l_;e.i
forthwith report the same to Contract.
Manufacturer. Agent shall. to the best of
his ability and in accordance with the Article (8) (") i.il.JI
directions given to him by Manufacturer.
assist Manufacturer to protect
Sub-Agents
Agent may not engage sub-Agents
l,).b4JI °'" J'.:j.S_,ll
.» ')lS J t"~ .) .1S ,ll j F.-i'i
Manufacturer against such malpractices. without the prior consent of ,j--o ~ ~I,_. ..JJ.l _):.411
Manufacturer. Agent shall be entirely jL.:., I
'i.:........ ~
.,.---- -
.11 ~J-
_,.
.-~;.\i
~~
Article 11 (I I) iJW responsible for the activities of his sub- . _):.411 .» ..;y.s J .uw;i ~ J,.LS
Products in Stock w~ oJ~_,..J\ ~ Agents.
Agent shall keep in sound condition .). c-J. ..:.~I ~-'I
\.all • Li _,. ..l:.h..-
Products and spare parts stored in his ._.j ........J t"!Wll .;ti.JI ..,i ~ JjM)I Article (9) (~) iJl.J
~,.JI rtS:..)U li,.b ·~ ~\..:..
premises in accordance with the
provisions set out in Chapter VII hereof. . .lia.11 I~ j.o t-!L...JI j.....i}I ..,i
Prohibition in Respect of other
T crritories
l.S~"' ~"' (.)'Ill~ ,)WI

Agent shall not solicit or ne otiate I~

Article (12) (H) iJl....11 omers situated '~ ?:---" J~ .j~ ._,;..Jli:lll
After-Sales Service and Repairs ~)'I~ .iU.o • · . ~"j I Jl.h; ~ .J~
A ent b "n-repair-shO~p:_s ...._.,-c"":::i-;-
_m,_...,- ! J..J.>1 J:S_,JI ~
accordance with the provisions set out in t"!L...JI J-ill ~~,.JI ..bJy!.11 Agent shall notify Manufacturer of any
Chapter VII and shall provide after-sale .i.......:..:iJ ' &.' .la.-! L.. ..:..~ ~J inquiry made by persons situated outside
services. Such service shall extend to ~I ~ ~ ~~I .~ Territory but any commission payable to
cover all Products in the Territory. · ~"I' ..,i >J~_,..JI Agent for a sale resulting from such
notification shall be subject to a separate
Agent shall also, when necessary, assist
agreement between the parties.
Manufacturer's erection team upon
terms and conditions to be agreed
separately in advance in each case.
 'VV

Chapter IV &1)1 J-i.ll Chapter III ~J-i)I

Agent's Commission J:IS.Jll '-1~ Manufacturer's Obligations ~ .:..L.l..>J!
Article (16) (Ii) iiJW Article (13) (H') oJW
Amount of Commission 4.l~ ).ll.. Extention of Agent's Exclusive Rights J:IS.,U~ ~ .i..

For projects with contract value of less "--4 Ji; ~I wl.c. Jy!i...il ~4 Manufacturer shall not grant to a third : - II
L..?----'"'
.. ~II
J:""" ~
· · j -~;.II -
-.) ~- ~
'1
'
than US $I 00.000, the amount of .J'JJ.l I • • , • • • ~ l+,;S .lie ~ party the right to represent or sell wt.;.:;WI ~ ,:;i .) Ji ~ ,) ~
commission shall be ten ( 10) per cent. ·~ -'J_,_.11 ).ii.. .:.;fo. ..Ai->"! Products in Territory. . ~)'I~
For projects with contract value of more ~4J. (%1 ·) UWI u-9 Manufacturer shall be entitled to deal ' • ~.
.____..!L.... J..L..:u--.le::
. I .uwi -
~J
than US $100.000 but less than US ..i....:ic.~4~.:;.~1..:.i1.t;:.Jµ directly. without the intervention of ,::L.....JI ~ , ~,JI _:,... j:;..i.J :_;,:i
$250.000. the amount of commission ~yi J'iJ:i I.•,••• ~ lt-:!i Agent. with customers resident in ~ .:_;i ~~'JI v9 ..J::i~_,.JI
shall be five (5) per cent. For projects ·~yl j'i J.l .,. 0.' •.• ~ JiJJ Territory but Manufacturer shall notify H J_..c. .;i ~ ~,JI ~I
.t.WI.) ~ wfo.
-'J_,_JI ).ii.. Agent of any business done directly with I
with contract value of more than US ''i y. t-" •~t+-
~I utc.J_µ ~4J. (%0) such customers and Agent shall in
.:.;~_, ' ')l...JJ
:I
$250.000, Agent's commission shall be u-i ij:>JI' ~ ~ ~ ·~_,ll
agreed upon separately between the ~~.l.....ic.J_S~~y respect thereof be entitled the J.,..:..ili .) ~ u-:> _,..,..;..JI .U _,....JI
parties. As regards sales of spare parts or ~, ~yi J'iJ:i Yo•,• •• commission provided for in Chapter IV. . t"!')'
accessories the commission shall be UL:.. J.,......S.) 0}9).JI 0:! ,jw'JI
twenty (20) per cent. . ~,JI '"-----J >""' 0~ o.l:>. u.lc. Article ( J 4) (1 t) oJW
~ o J.riJI U _,_II u_,_s:; J Agent to Be Kept Informed UL.~ ~.Jll .l:!.J.}j Y.F.-.J
.)L-..UJI •
- c:-. . .,. . . .
\...ii • wLa..u..ll
-· Manufacturer shall provide Agent with t -
14> I . I.('
.. ~.,.
.11 .l.lJ ...., -~•-11
- ..re~- f'~
·:ol,
. (%'1' •) i.s"' wl).,.,...,.S.'JIJ all information and documents necessary ~y..ll ..:...l~IJ wL.._,J......li
for the exercise of Agent's activities, ~ '-.&.! • .ub..:.;'J ~_,JI -'..II.>.J
Article(l7) (IV) ii.II.JI including conditions of sale. price lists,
Jl-....YI ~l_,iJ ~I .1.J~ .!l]j
Abortive Business J..ws:i r-1 ~ ~ technical documents and advertising
. ~'JI :il_,.JIJ~I wl.l.il....JIJ
and Terminated Contracts ~.,...a..n J.,,MJIJ material.
No commission is due on offers or JI <faaJyJI CF- ~>""' '-,ii ~'i
orders transmitted by Agent and not J.-....:iS,JI l+--l~ ~I ..:.i~I Manufacturer shall notify Agent u--i ~_,JI ) ...b.J-1 ~I +Li!-'
~~~~~-..trc~pte1t'tJrM.anufact~re~.~~~~~~~~~~~--1~Mw.~:~.~~--- ~--!·mmediateJ¥-of, y-¬ hh angin-_,l-~l-----11t-
Manufacturer's prices, conditions of sale . ~1.1.J~ JI ~1.1.J~
If a contract made as a result of business e..HI .l--i .:;15 .lie. ~ i..;J -'. .16. .) or terms of payment. \ .
transmitted by Agent is terminated, • ~~ J,iS,i1 f'u ~ ~
Agent shall not be entitled to u. ~>-! ..,.Jl.1.:i .:;I J.i$ _,ll ~ 'i Article (15) (' 0) ii.lWI
commission thereon unless the ~ ~ ~i..;)'I 1.l.\ f> I~! 'i! Technical Assistance 4aJi o~l.w....ll
termination is due to a cause for which . U.'ij......~1 Manufacturer shall, in accordance with u-:>~ L....i.J.' ~I :ic.~
Manufacturer is responsible. the provisions of Chapter VII, assist the ~ J.i$_,JI ~ _,.. , t"!L..JI ~I
employees of Agent to acquire technicaJ L-.WI ~I L.J~I y~I
knowledge of Products. . ..:.it.;.:;W4
 Article (18) ( I A ) o .ll..11
Article (20) (".) oJLJI
Method of Calculating Commission ~_,...JI~~
Time of Payment of Commission
~.....-JI ~.l ciJ
~I ....>"L...i .)c. "-1 ,_11 ..,......W
Commission shall be calculated on the
Manufacturer shall state the commission _,_..
~I U·--'I -··•'~11 C"""'· ~
er= ..,.--i ~1
basis of invoiced price after deduction of .l........L! •.) ·w1
due to Agent in respect of each quarter ~lfa....s, ' ~ (:I.) J$ .» JP _,.I! any discounts except for cash discount. IJC~ ...:.L ... ~ L,ii tl.1.i::...I
1+-L...I ~ .;JI .:..w.-11 ~
and shall set out all the business in Any additional charges. such as charges .:.r-- ~ J . '-:1.lilll ...:..t.. ~!
. e;iWI ~ ~_,...JI ~ ~
respect of which such commission is for packing. transport and insurance. ...)....:... 4~! ~.J~ '-:!I ..!ll::
payable. Payment of commission shall ~ U _,...JI e:U .;i-1:.,i yl ~-' ' ...,..
·..,_.L...:J1 ,~,......,.......
t:ot1 "' ·11 • I
duties and all other charges. dues and ~.)~

be made not later than the end of the • ~ (:!.J JSJ ~I ~I w taxes levied by the customs or in the ~.JL.......JI ,:_,.,. ..ill.l .)#. Jr s-- )1 J
month following each quarter. country into which the goods are \.+--0 fa ._.:..II ..,_.;1 _r:..11 J ..ijl _,.JI J
imported shall be excluded if they are .i......4JI ~ ~fa ._.:..II} ..!l.Jt...,jl
Article (21) ("') oJLJI invoiced separately. l.J) ~!~~I ..ii~!~ .,sill
Currency in which Commission Paid
~.,....n l+-1 ~~ ~ u..aJ\ ~L........A,JI ..s--1c. ~~I ...:...........
Commission shall be calculated and ~ \.t1_,,.:i ~.J ~_,...JI~ . ~-1·
.»' JAi
transferred in the currency of the L...+:.c. ~_;JI U.L...JI U.C.
transaction on which the commission is
. ~_,...JI
Where there is a single invoiced price. ;.___]6, .....; ~~ ..ill.l ,:y. ,.;:. )1 >J
payable. there shall nevertheless be deducted any • _,.....Jl >.al J o.J_,:ili .)c. ~~I
charges for the erection or preparation of ,i -4 y y,J.;.; ~.)\..-... '-:!i ~
Article (22) (" ") oJLJI Products and such other similar services :r----- ..!ll.J .)#. ,i w4..>WI ~
<S.;i.'JI ~-'JI ~ as may essentially be involved in the ~ ~..)j ._.:..II
;.r,t....J1 ...:..L.~1
Exclusion of Other Remunerations
All expenses incurred by Agent in ~~ ~I .....U..Jl-.JI ~ __fa:J performance of work. . j.....JI j~! ._.,i ..S~~
fulfilling his obligations under this ~~ ~t..lyl4 ~li_,11 ~ JP_,JI
LJ _,....14 ~~ .l.-i.all Ii-A Article(l9) ('-.) ~JWI
Contract shall be deemed to be covered
by the commission provided for in ( \ '\) o..iLJI ~ i..:.c U"' _,.-;.JI Acquisition of Right to Commission ~_,...JI i) ~ ~!
. .fu.ll I .lo\ 0-- Agent shall acquire a right to a pro-rata ._,....;.,L__i; ...,.; j=i..ll J!S 1
Article 16 hereof. ....:~=,.,.c.~1------
commissioJL.On....each-f)aymentmad'.,:e,::y:_~=::;~c~.:::.::::...:...,.....~Li:Jl.J::··:....
Article (23
_(ll) - .IL.Al ------.~;. . . . - the customer in settlement of custorners ~-'. "-!l...:.. '-:1.,...:J ~I~
~.) ,;,n account. If the customer fails to make •J..lS.14 t4-JI J:-11 ~ ,...)&.. ~
Taxes
Turnover taxes payable in Agent's ~ ~ yjiy.:..11 J,iS_,ll ~ payment in full, the commission shall be y,lb.JI &1-J' .)c. ~_,....11 ~
country on his commission shall be paid ~·~u-9~1~! limited to the pro-rata amount payable .J-..&- ..!ll.l, •~I ..,.......nm_, .o..d..l
.~_,...c. on the sums actually received by ~ '• ': ui ,..._.::,_;JI ~I
by Agent.
Manufacturer unless such non-payment ~I~ J.S. l.J) Y.1 &W' ~ly
ChapterV is due to a cause for which Manufacturer Y ;,_.,..,.~I ~ ..,...,....i ~
Contract Period is responsible. .~
Article (24) ( Yt ) i .iL.l1
.iM.11 i~
Term of the Contract
The Contract shall take force on 1 July, 0-- ~I~! J_,..i.JI ~u .fu.ll ~
 .l....-...i.JI ~4-l) ~.;u .y .;~ ~)l.j
1978 and expire on June 30. 1979. If not ~.J:!r"• ~...,AJ l'\VA ~~
sale not more than three months after
U _,......!I ~LJj ~ ~I J!S_,.IJ
terminated on said expiration date, the ~ .i.i...ll ~4-l! ~ ~ 1:i.1_,. \ '\V'\
such expiration shall entitle Agent to
. .i.i...ll I~ .)A ( \ A) o.lWl Li.,..b Contract may subject to a 3 months' Y" \ ..,.--i • _;t+;) JP.-1 , ~.;~I I.la
commission under Article 18 hereof.
prior notice in writing by registered .b~ L.h'i ~ ..sl 0.o ~.l
(Y~) ii.iWI airmail be terminated on 3 lst December .l,!yll___i ~ ..r.US .;U.U..1 ~u..:..1
Article (29)
~..J •11\ of any subsequent year thereafter. ~ .;~ ~ J;i J,........ll ._s~I
Compensation
Except where the Contract is terminated ~~) l+;5 ~_;JI w'iWI ~I.ti:....'-! -~.;~I I~

by reason of a breach by either party, no ..si j----a 4jj~ w_,.l.:>. ~ .i.i...ll Article (25) (Yo) o.ll.JI
compensation shall be payable
consequence of a termination or failure
in ~ u'>:!~
. ·~
..sl ~~ 'i '
r-J&. _,\ .i.i...ll
-....i~
~4-l)
Earlier Termination
Neither party shall be entitled to
0 $..,..
J,ai JM.JI • lf.-1
~ ui ~.):JI .JAi.S"J ~'i
to renew the Contract. terminate the Contract except for . . "i 'i.1 .i.W1
01S..; )' w s Js...:.:; ._.u.,.
Chapter VI reasons which under the proper law of 415.J I~ t.....t.....\ ~I .li&.11
Final Provisions the contract constitute good and • .i.i...ll ~i..:.'I
sufficient grounds for termination.
Article (30) (1".) ii.lWI
Applicable Law ~ ~1_,u_,.Ull Article (26) ( Y'I ) ii Jl.JI
and Authentic Text
~I _,JI
~~'~"
u.>ilill .li&.11 I~ ~
Return of Documents
Upon the expiration of the Contract, ~) J!S _,JI
ul.w........n •~!
~ , .i.i...ll • l+=U) .i:.c.
The Contract is governed by the law in
force in the country where Manufacturer ~ ~.J:! ._;]I _i4ll ~~I Agent shall return to Manufacturer all ~j y,i:. .J LJ:k. '/I .JI>' ~ ~I
has his head office. The English text of . - ·.11 , -c.:.~ ~;.\I ~ ')I ......::&!I
(.)""'--".) . advertising materials and other 6Jl__ JI ~ o .;fil...11 ..:.ol..w.......ll .y
this Contract is the authentic text. va--JI _,_...i. .i.........ia.JI 14! c.SJ:4i'il documents mentioned in Article 14 J...-,iS _,JI c)) l.11.J,!.;ji fl ._;JI .J ( \ f)
. ~)'I which have been supplied to Agent and . ~J.J'>-1 o.lfe _,.. JI y-Y .J ~ o-
still are in Agent's possession.
Article(31) ("'') ii.iW
Competent Jurisdiction ~~ <.>"1 • •;¥1 0 Article (27) (YV) o.ll.J
Any dispute arising out of or in _,I .i.._i,JI 1:+-J ~ ~ t1Ji~...s~i J----.-:.---:-..2-R~e:.!t!!;uun~o~~~--- ~-Js.~ ii"X===~'I
eonnection-wittrttrtsA~ffimire- 1.:u.l ~_,_...J r--u "--! ~ • ~ Upon the expiration of the Contract, J.-.:!S_,JI ~ 1 .l..-.WI ~ l+=UI .llc.
settled without recourse to the courts, in L...i,J.. ~ c)! ~~I
J • r-SL...JI Agent shall return to Manufacturer ~_,µ1 µ1 tl.iJ ·~1·
accordance with the Rules of L-WI ~I_, ~jill J&.l_,il Products and spare parts stored in o.JL..Jl L..i.J.. -~;.II
. c.:.- ...,.,11 • .JY&.
•~- ~ ·
Conciliation and Arbitration of the ~.J • L,JJ.lll ~.;!+JI .ijyJ~ Agent's premises pursuant to Article I I . .li.JI I.la .y (" )
International Chamber of Commerce, wfo.J . t...jl.._, ~4-l yl....o.ll p..:..ll hereof.
the award being final and binding. The u.L.. ~ _,;.... ~I .JI rS-JI
arbitrator(s) shall have power to rule on • r+--'""~! ~L........ ~ µ1 Article (28) (YA) ii.ll.J
his or their own competence and on the ~I .li&.11 ~ ~ ~ ~ J Unfinished Business ~~Uw..11
validity of the Agreement to submit to · ~ Business transmitted by Agent before µ_,i1 l+l ~ ..;JI ..:..w...ll ~
arbitration. the expiration of the Contract and which ~ 4.i-- ufo ._;]I .J .lWI • l+=U) ~
results in the conculsion of a contract of J.J~ 'i J&._,.. ~ ~ .lie. Y.! r'
 Article (32) (,.T) iJW
Article (37) (1"V) ~JWI Variations ~~
.. ~:~n ·L...W:i
1:..-·..J Variations or additions to this Contract
Manufacturer's Guaranty ..:..LJL.:a)'I Jj ~I .,:;,_s.::,y
Manufacturer hereby guarantees the ._,..,,i.........iJ
~
Jl,,_..JI ~I~
._.-i j;A~I ~l.i...o.11
shall not be valid unless made in
writing.
,JL. ~ .li...11 1.l. > ~.i..JI
materials and workmanship used in the . ;,,,,=.s.. fo
manufacture or the Products for a period l'L.__...'j) .» I~ 1Y o.i...l ..:.,~I
or 12 months after the erection of the j-A I~ \o ;.:...J Ji, ~_;JI Article (33) ,,. ,. ) iJl..Jl
crane is completed. or for 15 months '._,..,~i l....t:!l, ~I ,j.4~1 Prohibition of Assignment JP.; !; ,
alter delivery ex-works. whichever .w ...,..,~ ~i c~4 ~' l'foJ The Contract may not be assigned to a ..»--Al] .li...11 I~$ JjU'.ill j~'J
occurs first. and Manufacturer shall ~ ...,..,~ 'J ;..i..Jl .~ j)G,. ~ third party without prior written . ..;,........ ,r.lA ...;w1 .:; J:.
make good any defects which may JI , ._sJ~I ..!l~)'IJ ~I agreement.
develop during said period for reasons .....a.......Lll Ji ' ~ ,,1.)1 Ji • tY.,p.11
other than ordinary wear and tear, fire. ~ Ji , -'""}-....JI Ji .w.:...JI Article (34) (rt) IJW
dampness. willful or accidental damage, Y.'·~WI
. J
j_.Lll
r-- ·I~
y,i:. I' . Lien .; pn ~
improper use or care, or other causes ._s~i .._,.,~')~Ji, ~I Agent has no lien on the property of .,...Jc. ~I _,.i .j>. ...;i ~,ll ._H
beyond the control of Manufacturer. ~J. ~I > _)..:... (.JU. t!' Manufacturer. .~l..:..l..S.!J....
Defective parts shall without any charge ~l>! ~l ~1~')1 Jl.i;....I
against Agent or customer be replaced ~.l:! ~.)\__.....c.. ~i _:JJJ ~' Article (35) (ro) iJl..Jl
by Manufacturer. FOB, Finland. .b J~ J"\...i u1c- ~I Ji JiS yl Invalid Clauses ~ v-2,...n
Transport. custom duties and other ~.)~ L..i . •ili ._.! . .,. ,s .lie. In case one or more provisions of this Ji ...r---i ..!lu.. .,:,ts 1:i! L.. JJ6. ..,,;
expenses shall be paid by Agent. ~~I I'J--")IJ j...._....illl Contract are invalid. the validity of the • :x.J..l_.i .li...11 I~ .jO ,_..:. .J4 _;si
~Y' r# ...s~'i1 ~.J~1J remaining provisions of the Contract .jO _,.._.._; ..,.S4 .:;4..>-' ..ill~ _;~ 'J
. 4---!~ shall not be affected thereby . . .li...11

Article (38) Chapter VII &U~

Technical Assistance
---------r:g':":•e::::::n~t-:s~a
I sen . at reasona le 1-n
-..--.,.,.-..--..-----1+-----S;...u~
...te_rv__,alr-s--:-',.._,.....~-.....,""i-1r-~;:"' I -
Y-
...l=e~,..l!mvisio.ns ----~QOJ oj

and by mutual agreement, experienced ~ Wl.b • j,!i_.>h]I ~ JwY4 Article (36) ,,.,) iJl..Jl
technical staff for training by ...s.l.......:!i ~ '-:-':!y::.11 ._,it.I L..fa Products Held in Stock UJMl4 ~J>-J ~
Manufacturer. Manufacturer shall pay ..J--:!l.J.l'.i.o1l ~I ~.l:!J . ~I Agent shall include with original crane ..:.~I.:.--;.. ~_,II ~.J.l.......:!
the trainees living expenses (comprismg . ~ 1.. 'J:; ~~,-'""'' J..J...1..!.) u,,..._ .:,,W; sales a set of recommended spare parts .JL....:!iJI ~ _;w_,)u ~"JI
lodging and a daily allowance to be ~ui (j,!i_.>hll ~ ~ ~ ..s'"J! and, if not possible, Agent shall be liable .jfo• ~~~1.J.IJ. o~I
mutually agreed) during the training ~_,II ~ ~ • -,.J:!_,.llll •fo to arrange that the customer will recive ;._;~I ~ $ 'i _,l.- J!.S _,ll
period. but Agent shall bear their basic ~.JL-..-...J ~t...\11 ~4'.>< proper maintenance and spare part . .}~I ~ y,i jJ J Ji-ll ~I.WI
salaries, training expenses and travelling r-1 L.. l"".J- ..:.W; ..tll.:isJ ~.J.:i:i service.
costs unless otherwise mutually agreed. · ..ill.J y,t. >
.:,,t;,).JI ~
 Principal whether of Principal' s own J...__.£ _,.JI ~~ ...:...L..~ ...Si ..filiS J
a.I ,...d Y a.I L.=9 :W:. .r
production or not (Supply Contracts). as .l ~) fei J.ili.. .) .lie ~ ~
well as any services rendered by • ( <1.a..\i..ll Commission Agency Agreement
Principal under contract for remuneration
IService Contracts).
Article l: Scope and Definitions

(2) Under exceptional circumstances. j~ ~\.tu..."jl .....iJ_)JI ~ -Y ( 1) The "General Conditions" set forth '4....__...WI .J.._,~1 • c.S~ _,

Principal in order lo make possible the j..\,LJI L.. .lie. rl Y.! ~ JS _,.Jl hereunder shall apply to any and all w\.i\.ii")'I ~.)c. oll..ll ~_,.JI
conclusion of a contract may deal .L.WI r----fo) _) ~ ~ o ~4-o agreements made by and between any rL....il .>--- ~ c.Sj ~ A....~I
directly with a client in the Contract
Territory without the assistance of Agent.
J-.b.H , ~ _,i1
~_,II ...:.,,"jL..,,.JI .~ ~ JS,.JI
•.i.e. i....... .j J.l.i division
whether
of Fried Krupp GmbH,
operated as a branch
~;.....JI ul:i \.,~_,.ft ~I_.)'~~
~..'1 )~-:,,ts ~1_,... oJy.:.....11
!
Principal shall in such cases duly notify .....iJ..r-hJI ·~ ~ ,,._; ..)c establishment of Fried Krupp GmbH or ~I.) ~y!J ~l,j ~.) ~_;..
Agent of such exceptional circumstances. .~l.W..."jl as an independent legal entity in the JI oJ~I ~_,l.....11 -:..1:i y_,_;S
form of a joint stock company or a JL..:. u-i Ji:i..,....... .,..;_,;\.! w~
(3) New products or products other than "----.ii JI ·~ ...:...~ ( J.ii "j -'I" limited liability company, or in any ui:i ~~JI A....AL..... ~~
Contract Products added to Principals ~ .L.WI ...:...~ ~ ...:...t.;.=u... other legal form, of the one part, and JL.:..sl ~JI, o.:i~ ~;......
manufacturing programme after the ..r.L:..i)'I ~L..Jy,ll .)1 4=d~! any person or corporation resident ...siJ (JJi u_;-.h) ~i .,..;_,;u
conclusion of Agency Agreement shall ~ .-J\S_,II .lie. rl y) .A! JS _,.Jl abroad. of the other part, relating to an • ..,,._.i.. ..SJ~I JI ~ ~
not be included in the list of Contract •
~r- . I L-.. Ji.JI uL:.:.:...
. ~\j agency for the sale of the products of J.-..1..:i:! ~ u.).) ()·~4
(01.j
Products unless agreement to the effect JL.&;I ..r--1! u,.i _).JI
~ j....a _,'.ill such division. ..... :11 ~
r- u~. C7'"
... I ...J\S..'1
that such Products be included is , ..:_.I .LA c;:ly) j~
... ·.;.II

reached between the parties and laid . 4!WS jliW I~ ~ Y-J (2) In the following, the tenn " Principal
down in writing. " shall mean any division of Fried
Krupp GmbH entering into such
( 4) In the event of Principal being induced j-A .....; ,.):. ...si ..:,J.l>. '"J6. ~ - f
Agency Agreement, and the term
or compelled by any circumstances ·~ Jj J_S,.JI ...sfa tY .,si
.... Agent" shall mean any person or
whatsoever to give up the production ...:...~ ~ Jj c;:t.l! .....dJ .)c.
w,:.;..-- corporation.-resiclent itbroad-with"wflom
and/or sale of certain Contract Products r=)i) hi > ii.II ~ ·..-,i·....
· .-----~
such Agency Agreement is concluded
wltllin the Contract Territory, then the ,L....... ~IJ c;:t.l)'I ......t.SJ Jj Ji.JI
list of Contract Products covered by the .;JI Ji.JI ...:...~ ~\j ~ ~
Article II : Contract Territory and ~ . .J JM.JI r-:-:
.. !".a •. ("')
l
• J ..
.........
Agency Agreement shall be reduced to ~~ili_,ll.lic.~
Products
the remaining Contract Products and ,4411 .l-.i.11 -:...~ .)c. ~
Agent shall not be entitled to any claim ~I J:iS_,ll ~ .)4 .jfa."jJ
(I) The Agency shall only cover such ~";I u--lc-
~_,II~-'
territory and such products of Principal ~~))~_,JI u~J
in respect of such reduction . .~I 141 ~ L.;.S ~ ...s4 (Contract Territory and Contract ~~~I (Ji.JI w~J
(5) Agent shall not appoint any sub-agents ...si ~~_,II .)c. ~ -o
Products) as are designated in the ti
. J.iS_,11 J JS _,...JI .;... _,.JI ...its_,11
Agency Agreement signed by Principal ~I.SI _,,. JS_,.Ji &"" Ji-'..J
without the prior written consent of 4.WS 4.iil_,.. .j.J.l.! ~.) ~:::i.sJ
Principal. .JS_,.JI 0-- ~
and Agent. A product of Principal shall uL..S .1_,... • 4~ JS_,...JI f~
be deemed to be any object marketed by ' ( ~...Jjill .l fa-) 'J ~ "4-t.l! .;...
activity to be performed by Agent under ( ) ) o _r-ii.11 ~ >"-! ~ r4il1 JP _,II Article Ill: Obligations of Agent J:IS_,JI .:.Loi~ : (,.) i .IL.JI
par. I of this Article . Agent shall in ~ JP ,JI c>fo. o.lWI • .la .» (I) Agent shall solicit business for ._,--1c j_, O'! JI J.!S _,JI ~ -\
particular: :.):! '-414.....:.~ Principal in the Contract Territory and I .i.......i...ll ~! ~ JS>-1) ul:ii..-
assist Principal in bringing about and in u~I .ii.:.~ ~_,..JI Jc.'-!.J
a. regularly visit and advise within his ~:a,J~ .1;,-.;• .:..1 .J4Y. r4il' - i handling business and generally ~ .jJ~J I l+--..o J,.l.UJI J
territory all clients and potential J._Sl ~) ~l.l r\..l;.:;.;4 •.J,.:....JI cooperate with Principal in the Contract .i.......i...ll ~! ~ JS_,..JI t::;A ~\&.
buyers of Contract Products; ~I ~y_.....:....JIJ ~::i.-.ll Territory in such way as to secure the ..:...~ J.,.a.SI ~ ~ ~~
! .li.JI ..:.,~ optimum sales of Contract Products and .jS...... ~ j...o.il, , .li.JI u4-'.ilJ
the best possible performance of sales ~ _,11 rfa. I..$ . ..:.~1 .),w
b. inform Principal regularly and in detail ~JS ,..JI t )U.._I -y
4............1w contracts. Agent shall also assist in the u--5. o.lel.....JI.... t.A.l• .li.JI ...... • ·'"I ..s1.
about Agent· s activities. the market J..-? _,JI .:..U..t.:.; ..,.le. ~4J Contract Territory in securing and (:---A .l_,___ic.~J ..,.le. J~I
situation and any other facts that might -s~i ~li, "'-:!i_, J_,....ll ~JJ performing contracts with customers ~) _;Lh; (..J~ ~I c.:L.11
be of interest with regard to the sale of ~ ~ 4-Ai .:..1:i wfo .li resident outside his Territory whenever 4.t.S ..:...~ ~ I.JS Ji,S_,11
Contract Products within the Contract • ..i...._kll ~! ~l.l .li.JI u~ he receives written instructions to this .jS_,..JI 04 t.)4yjl 141
Territory. Market reports shall be ~ JS •Y' J,..JI . >.uli:i ~ s effect form Principal.
submitted at least every three months; !Ji\rl ..,.le..)~
Agent shall attend to Principal's ~.$,..JI cJ~ JP,JI .._r:.ly,_,
c. advise Principal about the most J_,_,. JS_,..ll •.J,.:....JI ~ -~ interests in every respect and comply I ........_;j~('Ji......-..l:!.Jo~_,11 ~
suitable course to be adopted within "'-:!l&..i.ll J.-l 4-:::l.. J..):JI ]>Si with Principal's instructions concerning ~.i.ll ..b,~_, _;1...,....'i4 4.....:.WI
the Contract Territory in general ~)~l.l~t.:.~~'/I prices.. terms of payment, and . ~I ..b_,_,..:._,
advertising; . .li.JI conditions of delivery.

d. keep a check on the performance and .u,11 L.......;-.ty..) .;t~'I' -.) Agent shall not be entitled to conclude ,i l.l~ ('Y.-1-:,i Ji,S_,ll (y>...:'l,
settlement of business contracted and 1 ~,..._.....;_, ~ ..is"°W.Jl J-l4 contracts or otherwise legally commit ..!ill y,i:- ~ \,;yli JS_,..JI c>fa. c)
inform Principal without delay of any L,i\.i ·~ 0J.l JS,..JI t~!J Principal unless Agent receives L..:..:ifa ~ t1 L.. Jl~\rl 04
..:.1:i w.;LS .1_,_.. l.:..J -:.4~
difficulties arising, whether of a Principal's written authority to do so in UL:.. ~ JS_,.JI 04 ~ U.l:iS
...,_,_.,
~ ,1 91... ~
financial
assist
or technical nature, and
Principal in removing such
•=L....... ~J
\ ..:..4_,. ..)I .:,..~ j) ..) JS ,..JI
a specific-ens . -~
In fulfillment of Agent's duties, Agent ,) "---_!),c. .._,~IY. Jfo _,!I c. li J .lie. J
difficulties;
shall exercise the standard of care proper ~ ~ ~l.>...11 04 (.$;....... ~
.J~I ~,JI L..,iil Y' - __.
to a reputable merchant; Agent shall be 'J;...,... J.!S _,!I .)~J 1 ..........it .:;,..-
e- watch the commercial status of ($
responsible to Principal for any damage • .J~ Ji .J.fa .si .::F- JS,..JI rL..i
Principal's customers and report on any -sl 0--C- e_~-;1, JS_,...JI .:::t-J or loss due to Agent's failure to exercise ~I~ Jfo_,11 Jl! ~ .::F- ~
deterioration of their financial position; !~I ~L.:o_,I ~ .J~,lj such care, and he shall, to the best of his u---1! ~'Ji~ Jfo_,ll ~J'
knowledge and belief, bring Principal ...-Jo:. 0:!...).lL....ill .::i......JI 'J) JS,..JI
f- assist Principal in obtaining and J~I ~ JS,..JI o.lel....... -, into touch with solvent clients only. • o.lti£1_,......Jc. .i.:i.. ~ .ll..i....JI
defending patents or other industrial ,1 ..:.1.1~1 ~ tl.i.i.!1_, ..,.le.
property rights and in countering Lp.WI J.rh .:r-- ~ y,i:- (2) Without limitation as to any other
 unfair competition within the Contract L....il..i.JI ~1_,.. ....SJ ,~u..:.JI
Article IV : Obligations of Principal JS_,..Jl .::.L.ljil) : ( t) o.lWI Territory: !.:ik.ll ~! ~l.:i ~yll y,e.

I) In order to facilitate the duties » _,14 -..b _,i.JI ..:.41_,JI ~ -\ g- give advice and assistance to any and F. •.ic.L....JI, • .J_,.:..JI l"':!.li:i - j
incumbent upon Agent. Principal shall ~.:J-~»_,!I ~_,..JI ..l.C~ all persons, including erection ..:,, ! a·,;, ·It ..!L..Jj ~ ;.>n~YI
assist Agent by placing at Agent's ..:...U4!JI ~_,JI......;~~ personnel delegated to the Contract J.__,S _,..JI !"+!~ ~I ..:.4:!SJi.14
disposal data and information and by ~ ,u ..r-i ~ .J~J ' ..:.Lo _,J.....ll J Territory by Principal. . .:ik.11 ~! ~!
making available to Agent the usual ..:.~I ~ o.iL.:......JI .ii ,_.JI
material such as samples. drawings, .b J _>!. J .Jl......'JI ~I _,i J ..:.L.. ,_. .)1 J 3) At all times, even after termination of .l.....A./ ~J uli,"JI ~ ..,.i -T'
price lists. trade conditions, and .) ._..---lc. , ~'JI .ii_,.. J o .J4-=JI the Agency, Agent shall guard all j...._S ».,JI ~, "J\.$_,ll ~~)
advertising material; it shall be for .ii _,..JI o.l.t. ..:..U\.$ I~) L.. ~_,..JI .J.fa. secrets concerning Principal's business, , J.__S _,..JI J.-,....i ~I ) >"'JI
Principal to decide whether such C.)° n;,'j l"I t~_;..........~ ~Li processes and operations; he shall keep ~ ~J • ~~ J ~1~1fe.1,
material shall be returnable or for the j!_;.......:..JI ..,..;4 ..)--o l"I~ under lock and key any and all ~I w~I ~ .._.till ...:.,tc. .J
use of potential buyers. .~I documents marked confidential, as well ..:.~l~J·'-:!~.....&.....w
as samples and drawings made .~_,..JI~~ ~I ..:...L..,_..)1,
2) Principal shall notify Agent without ~) ..JJ.l »,JI ~_,..JI~ -Y available to him by Principal. Agent ~ _,::J4 ~ j:l..WI »,JI ~J
delay of the acceptance or rejection of .faJL..jj ~ '-:!i ~.)Ji j~ shall have his personnel sign a ' •=Lill ·~ !'+'"I jil4 .)1.)) >
any order negotiated by Agent and shall ~_,ll .:iJ~J, ~~ »_,!t declaration that they will comply with _p.j >
l+/ ~I j.o ~ .iSl:i,iJ
furnish Agent with copies of Principal's e:---" ~_,..JI ..:...)l...l .» j.o .J ~ this rule and he shall see to it that it is . ..:.LiJ';1~..... ~~
..,....I.;•
correspondence with the customers in I~) 'i) ~I oi.......A j~ ~:::L....ll duly observed at all times.
respect of such order except where such ~4i f' .:ii ..:...)l...l _;.JI o.l.t. ..::...;\.$
correspondence has been exchanged _,ll J'~ j.o .» 4) Agent shall observe the rules of fair "'---.....51..i.JI .l.....c.l _,i »_,JI .rl ..>.! - f
through Agent. competition. . ~y!JI

Article V: Cooperation with Agents of ,.~J ~ ~: (o) oJL..11 S) Agent shall inform Principal without
Other Divisions of the Krupp Group '-:'JJS ~~ ~ cS~'JI l"l.w.9'J1 delay of an chenges taking plaee
-~!r":' ...---wit in Agent's firm concerning:
(I ) Agent shall get in touch and keep Jt.-jl ..,.le- ~J ~_,JI wfo. - \
contact with all the agents of other .s-i ..s~Yt rt....J""il ~~J ~ a- the legal form of the firm; I ,;,sy!JI ._...;_,;lill JS,.:JI - I
divisions of the Krupp Group resident ~l.:i 0.1.l~_,..JI YJ..f. ~ ~ b- the number and persons of the
partners; and
! .. \.Sy!JI ;,>n~I,, = -.._,.
within the Contract Territory and shall .) L....Si~'IJ ,..._....... i.>"''·LW•• J .:ik.11 r--. ~.Iii
exchange with them ideas and _»-SI ~ ~ ..:..1y.;..11J c- the executive functions of the
experience with the object of obtaining YJ.;--.£ ...:...~ ~ ~ .:.,~ partners.
the greatest possible sales of all Krupp . .:ii...11~)..,.i
products in the Contract Territory.
 own account and to any direct or
indirect participation by him in third
firms or companies, as well as to branch
establishments of his own inside or
outside the Contract Territory.
If Agent desires at a later stage to
assume further agencies, except
agencies for other divisions of Krupp
Group, Agent shall first obtain the
approval of Principal, which approval
shall not be unreasonably withheld. The
same shall apply if Agent desires to
take up any manufacturing and/or other
industrial activity for his own account
or if he desires directly or indirectly to
acquire any interests in third firms or to
set up any branch establishments inside
or outside the Contract Territory.
Article VII: Business Transacted by
Agent for his own Account
Agent shall not have the right to buy
Contract Products for his own account
unless he is expressly entitled to do so
under the "Special Conditions" to the
Agency Agreement or a special written
agreement has been reached to this effect
between Principal and Agent for a
particular case. The terms and conditions
of such purchase for Agent's own
ac_c:ount shall be set forth in detail in the
..,-le ...s ~ L.S , '->"'WI "'-!l......oJ
s Y:,4-- y,t:. _,i • Y:,4-- ~.JI..!... ~I 2) In the event of two or more divisions J.....SI _,l ~~l~I ~.)-Y
...........S_,l..... ulS~ ..,.! J!S_,JI ..)A of the Krupp Group being involved in a ~ ..r---9 YJ.fi ~ ~ .,:,..0
ual.i.......!.I ..:...\Sy:. u.i\S ~ 1 _,... y,i.ll business transaction. the Fried Krupp ·.._,.,_,_ft ~I.)' ~y!J j.J'H ~.Jt.;..:i
, ~) ..,UC.I~ ..:.lj ulSY:, _,i GmbH may appoint the division whose 0--:!oU ,) o.l~I ~;.......JI ..:,,1.)
L,.:. .)11 uL........... _;..!I cs1c. ..tll.lS J Agent shall assume a leading function .J~ "--1.!S J r~ ...s .)ll c-iJI
~!(.JG.. _,I ~l.i ~_,ll ~tJI in handling the transaction. . ~I o.l.\ t;'" J,.t..::ill .) t.S .i4f.ll
. .i.WI
Article VI: Competition Prohibited - ~ - WlWl ~ : ('1) iJL.JI
~'i ~.>4 ..,.! ~_,JI ~.J lj)_, Representation of Third Firms .):!All ..:.1.1~
L-4...sfti ~;..)~.).)
~...sftYlrU)u~_,:;!11.l<:. (I) As long as the Agency Agreement is o _,::..._.j JI _,l. ~ _,11 ~ ~ -I
'i _,i ~_,JI cs1c. Y J.fi ~ ~ in force. Agent shall not, either directly ~ J~.lll ill_,11 .lie. l.MY..
~I JS._,.JI .WI_,.. cs1c. J_,.._,.JI or indirectly, enter into any competition WU.. ~I ~ ~ _;:i;. _,i ~4--
. j~~.,:i_,.iu..~jl to the detriment of Principal nor further .:i.__. r..&-J _,I ' JS~ ,.>..:..J
i, .u~ ..,.! ..tll'.i ...S~J
~.) lj! such competition in any way; this 1:i.._.. '-5.>""'.J, JU ..s4 yi...JI
tr.L...:..i! .bl.!..; ...s4 r4f.ll ..,.! ~_,JI provision shall apply to new as well as ~1 >- J-....i..11 ~ cs1c. µ1
"'-!L-......l ~ _,i _p.i ._r.L.:...:. _,I to used Contract Products. . .uw......n _,I 1.+.l..•~I
j_,.._,.JI ..,.! ._,Ji:. .J lj) _,i , .._..,WI
._,--le. Y:,4-- y,t:.. _,I Y:,4-- JS...!.! Any sale by Agent of used products ..:..t.,...:;W ~_,JI !JA ~ .,sl ~J
1:i1 _,i y,....-ill ..:.\Sy:. .) ~u.. ~i from the manufacturing programme of ir.L...:..iYI ~L....;yll..;,.. U...::......
~.) ..:.t......_;... ~I~\...!.,;)..,.! ...,Jt:..J the Krupp Group shall be subject to the ~ ~ -Uil_,.J YJ.fi ~~
. .i.WI rfo) (.JG.. _,i ~IJ prior consent of Fried Krupp GmbH ul.l 'y_,~ ~I_)• ~.,r-o:.
which consent shall be obtained ~j~o.i~l~_,:.....JI
~ ~ ~la.JI : (V) iJL.JI through Principal. ..)--&- ~1_,.JI o.l.\ ~ ~l·-----t--
~ ~ ~_,!! ----------- .JS_,.Jl ~.).
.i.....i.JI ..:,,~ ~IY:, ~ _,ll ~'i (2) By signing the Agency Agreement, ~_,i1 .fa .uis .lie. ~ fo. _.,. ;n
~ .,:,... .:fa. rJ L. U""WI "'-!~ Agent warrants that he holds no agency J.-;w _,I Ul.S_, ~4·Jar..>JY ..,,;4
.b_,~1· ~.)A! ~ly- ..tllj of. nor represents, any firms or persons ~1 y,t:. ua~I _,I ..:..\S~ .sY
~.'41 _,i, .U\S_,ll .i.W ·~WI other than those indicated by him ..:.Ji i.rJI ..:..W. _,liJI ~ r'6 fo
~! .J.-_,:;)I f' ~G.. .r,US JU.I during the negotiations which led to the .ill_,11 .lie. l..>!! .))
J._..,iS_,11_, ~_,.JI ~ u":>~I I~ conclusion of the Agency Agreement.
.b_,~ ~,, ~J • ·~ .uw
J._..,iS_,11 yL-..:..l ~ly!JI 1:i. .lj>;J The same applies to any manufacturing ir.U! ..bl.!..; (.JI~ ..tllj tS~J
.l.-W ·~w1 .J.._,y.:.i1· .) ~~ and/or other industrial or commercial ~.J~ _,l ~u... ..:.ill.~ ~l _,I
~ ua~ JL..iJI ~ _,i ~_,JI activity engaged in by Agent for his ~ti.;..:.. ~_,i1 .:ifi:i tSftl
3) Agent shall derive no rights 1..5i ~ J~ sl J,iS.,ll L!.;.;y -r "Special Conditions" to the Agency 'J J ·~ y ..J.----F>. j.o ~I j.... _,:JI
whatsoever from the use of Principal's _,i J._.$_,.JI r---"') rl~I j.o t _,; Agreement or in the special agreement to ~ si ~ ..:LJL.L...J1 • .::. ~
name. signs. brands or trade marks. _,l o_»......-....JI ~~ _,I ~u.;4 be reached from time to time. In no event . 4J _,....JI Ji p. )'I j.o
Agent shall cease using such name, ~-'ll ......d~_, ·~.J~I ....:;~ shall such transactions be subject to
signs. brands or trade marks whenever oi...A _,I r--YI 1:i........ rl~I we. commission.
so requested by Principal and shall in _,i o )!.....-..JI wt...:':A...ll _,l u\..h;\.,!11
no case use them after termination of ...____.. ......lb
. \..JS .._....) ~I. wt...:':A...ll Article VIII: Use of Corporate Name ,...._.....'II r11;,; 1: (") iL......11
the Agency Agreement. 0--&- ~-' ' ..L)j J._S~I Signs, Brands, and Trade Marks ' .:.L..S.;WIJ ..:.L..lai~IJ l.SJ..-..i&..'il
Jlp.YI .J.o Jh 1..51.) i>+'"l~I
~..)~..:.~J-~
. 4-l\.S _,JI .lie ~ ~! ~
1) Save with the previous written consent ~~~.;;JI ..:..)'WI .~4 - \
4) Agent shall inform Principal without ~! ..J_t-) $_,.JI ~_,JI~-£ of Principal. Agent shall not order or .::--- ~ ~us ~1,.. ..,k.
delay whenever Agent learns of any use 0--< r1~1 s~ J!S_,JI e-k- \..JS prepare any stationery or other printed JI ~ ,,J&. ~_,JI ~ $_,.JI
by any third party of the name or signs _,i J_.S _,.JI .;;l.h;4 _,I ~ Y ~I matter referring to Principal Products. .J.-o ..illj ..# _,I ~ .)I_,... .)I.le.!
of Principal or of the brands or trade w~I _,\•_»-..JI w~I ..r-1! ~ .;;JI 4..:. _,,.l...JI JI _,.JI
marks of Fried Krupp GmbH or of •y J->---5 ~I.)' 4-S ~ ~.)~I .$_,.JI..:..~
similar names, signs, brands or trade ~L...Y ~I i>1~4 JI 10.)_,.io......11
marks, unless Agent knows beyond _,i ·~ .:.~ _,l i.:,u.;4 Ji 2) Any use by Agent of the name and/or .::------1"1~1 si JW4 ~ -Y
doubt that such use has been authorized u---s:i i>1 L. <lt...... ~.J~ i.:.~ signs of Principal, and any use by Agent JI J._S _,.JI ('--'"' '; J.-,i$ _,JI ..,.Ul;i.
by Fried Krupp GmbH. 1:i...._. ,) ~~I 0_,..i ~ J!S_,JI of any brands or trade marks of Fried r1~1 si J , ~ JI ...:;u.;4
4-S~ 0-'" 4-> ~->" r1.i;..:;...y1 ~rupp GmbH on printed matter of any wL..::X..:. ~ Y ~_,JI ..,.Ul;i. .»
• o.) ~I \.,.._,_fi ~I.)' kind such as letter-heads, envelopes . L....-h ~..)~ ..::_,~ Ji • j:...
publicity .material, catalogues, price •o.)J~I ''-:'Jfi ..1,!I_} • 4..:. ~
5) Save with the prior written consent of L...t.S-·
L....iil ,.. .tit:.. LJ-W
·.<-. r-' L. -0 lists. newspaper advertisements, t ,___; s i .J.o 4..:. _,,.h.. o.)L. ~i JI
Principal, Agent shall not, in ~ ~ -.U_,.JI 0-- ~ packing material. stickers. labels. tags , ....;_);.)11_,~~kiot~
connection with Contract Products....use .L.WI ..:,~ ~.J..yiJ!S tll--~, etc..shail likewise be subject to t e prior • ..::..4_,11.All_, • ~!&..ill .)I_,..-'
any trade marks of Agent's own or any t...,~ ~.J~ ..:..~ ~I rl~) written approval of Principal. For the ..,-.i ulj)\&. ';I_, , ..ii,._ 'i I ~I ,SJ
other marks which Agent is otherwise '"-.h o- 1..5_?.I .:.~ ~I JI 4-> purpose of obtaining such approval, • 4 iy·ill Jl_,_...J • ' i , ell
entitled to use, and Agent shall refrain ~ w; • ..ill.ll li::b lt---1~.1 Agent shall submit to Principal samples • wL....i~I wli~_, , wli.-WI.J
from acquiring property rights for trade w~~J~yl....:.$):.F- of the material concerned. Publications Liil_,.J WU._, ..it..-)11 wli~.J
marks similar to those of Fried Krupp ~1.)' 4-S~ i.:.t...:':A...l ~t...... ~.J~ of any kind concerning Principal or J~ .J , JS _,.JI .J.o .U,...... ~
GmbH. . o.)~I ~;......JI wl:i 'y_,_fi Principal's Products shall be subject to
the prior consent of Principal.
~) ~_,JI ~ ~I _,.JI .:i. >
-~I oJWI .J.o ..::.il.J,ic. $_,.JI
Article IX: Commission ..i..,....n : ( ~) ;Jl.,JI 1.:.L.c. _,,.l...JI UIS t ;.; ; w;
I) Except as may be otherwise provided in ~ ..!llil li::b ~ ~ .)Y- rlL. _, ~I _,..JI ....::.~ Jl $ _,.J~ J......,WI
the following clauses, Agent shall receive U _,,.c. JiS_,JI ~ , ._,Jti!I .)fa.11 . $_,.JI j.o ~I
commission on all contracts covering the -L.:..i! ~ ~I .).,WI ~ i:.F-
 stages. then the proportion of the .,s _,L.....:J4 ~ o.) ,Si.JI ~I _...JI
.j-.C- ~I ;.,] ,_ll ~ rl...Ui)
manufacture and/or delivery of Contract L.e--:... yi _,i .li....11 ..::...~ ~'
commission due for such stage or stages Products (Supply Contracts and Service ~I ( ......~1 .l_,it:. J ~.Jy.11 ~fa:.)
shall be equally shared between Agent J.!S_,]I ~ ~1_...JI ,i .;.b.yo}I .~
Contracts) which Principal shall ..Jl.S ,JI .ii.:. •.i... ~ Lt.i ~,.JI 1-Y.:! ••
and such third party. This shall apply. in ~ ..SY.•H. _?.~I .....;yWI 11.J
conclude during the lite of the Agency ~I ~.I ~ ~ ~ ,,;i t"°
particular : : "-:!JU!I .:.';{WI ~ 4...-1.:.. ~
Agreement with any customer resident in ·~ ..::...;~ lj) l..c _)>.:JI _.:..A./
the Contract Territory. irrespective of JI J.!S _,]I o.l.<;. ~ W... .) .l5 ..i _,i.JI
If contract negotiations with a ~I.:..~,~ ~fl'i 1:i.1 -
whether such contracts are concluded . ....:i.:.c.L..... .:;J~
customer resident in the Contract ~ ~ (:" .,ii.JI ~~ !:: ,;I.:.. with or without Agent's assistance.
Territory have been conducted outside Ji ! .li,.JI ~.I ~ i ~..i . ~J
The payment of a remuneration to r I. ..H.I JC~_,...»
· LC .II

the Contract Territory: or Agent for the conclusion of agreements ,1 ~_,;;-£.:;,. ~y ~ ..i_,ic.
covering a Krupp license or local ~y~~~\~I
- If contracts not yet concluded or t1 J~ (:" _..;..i .....;_). j..L.U 1:i1 -
manufacture under such license shall be ~ J,...o.i.M ....,..;. jJ ~I 1:i. .»
performed after termination of the ..tl.Jj .,sA ..:..:ii,; ,i .:......) .!! fo
subject 10 a separate arrangement to be . _..;..'} .j.p..:;... ojl.»!
Agency Agreement are handled by a _,i ! ..JlS _,!I .:i¥, ~ \.+)) ~ ~I
made from time to time.
third party: or
2) Unless otherwise stipulated in the ....--5 .tL.Jj _»-i:.. .b~ ,JL. - y
- If. in exceptional cases where such .:..';{w..11 ~ _..;..i .....;_). j¥:- lj! -
j..._.,,.S,JI ~ '4...-l:>...JI J:.,~1'
"Special Conditions". Agent shall be
procedure is necessary for securing a I :i...._. l+--::!S .j fo _;;]I ;,_;.~ 'f I entitled to receive the following .J--..&- -.l _,.....)I ,:;... "-:!ltJI ~I _;it
contract (for example, if the customer ._.Jc J ~ Y . n.;-:.a ~ 1 fl' )'l proportions of the commission for the ~ ..:.Jj: 4L.:..i~IY'~
so desires). a third party has been ~ ._,.>i:. ~ ..1-ll .:;lS 1:i!) \... .:i¥.
di tfercnt stages of his activity: I /3 for ~~-'I ~I J=-t~)I
appointed to handle such business .u&....11 • ~ (:" j..t..ull (::i.:.... ..ill.:i • .li....11 rly) ~ .:..l..4_,li..JI ~IYJ')
reporting the business, 1/3 for
either alone or in collaboration with . J.!S _,II (:" .j Jl.Ul4 ,i oJ fa \...)
conducting negotiations prior to the ~L... .(...i,;.-' .:i.WI ~ J=- ..:.JjJ
Agent. conclusion of the contract, 1/3 for .~I
performance of the contract and after-
In all cases, Principal shall inform ~_,..JI ~.:.)'WI~ ~J
sale service.
Agent at the earliest possible date of the ~ :fi..... ..:..i_, ..,...)i ~ J.!S_,11
--------appointmen of-a-thirct-p-arry-for sue ~"11_,.__.:.. I ft ._jfa u_.>----b .,si ..!JI~~ c'.l.<;. ~
If no third party has been active in any ~J
purpose. An employee of Principal shall _;......l~ ·~~I .....;yWI" ~J ! ~lyo}I .:i..__.,:;... .,si ~ _?.i
of these stages of reporting the
not be deemed a third party within the ,:;... .,si ~ e.iWI .~ ,si .:i _,-i.JI
business. conducting negotiations prior ~l_+-;o.)_,, 4.ii......JI ~ t~'fl ..sA-'
meaning of this clause. Sales agencies u........w,_, ~-' . JS_,..Jl ~_,..
to the conclusion of the contract, and ~ s• .iia.ll rl Y.! J:>i .:..\...4 _,ti.JI
and branch establishments of the .i_,_.........wl ~4 '_?.~I uyl.JI'
performing the contract, then Agent ~ ~ J:S_,]I ~ , .li....11
Krupp Group shall be third parties ~I ,;,.J'i\5_,~ e.:iWI .~ ~ ~ ~I :faiy J,..l.Sl4 ..J ,_JI
shall be entitled to receive the full
L-a.itJI 4 __.all ..:A-- }-JI_,
within the meaning of this clause. amount of commission, irrespective of .:._r--.... .;.b. .)A JS ~ ~ .)~ ..s JA
:..,..J.fi. ~_,.......! . ~lyJI .~
the extent to which Agent has been
active in each of said stages.
3) If contract negotiations with a ~L..:i .;:,,L-..;.._,~ ~..»i 1:i1 _,.
customer resident outside the Contract ,.._, IL. .J....-...i- (:" .iia.ll ~! j.i.l .i
If, by order of Principal, a third party ->"~ _..;..i u_). C.JJl..U ~ ~-'
has cooperated in one or more of said .J.- _;.si _,i ~->" ~ JS_,.JI 0--
 LA ~.;fa. .i.WI .!lb y.;.. .JA! L..jl... Territory have been conducted within µ_,II .!!_;..!.I J , .i.WI ~) (.JG..
Principal is obliged under such contract
to supply to the customer. No exception •:i+-J ~Lt.:....) LS~ ~'iJ . ...4-lJ the Contract Territory and if Agent has y...11. .)c.. ~1.1! ul....oJLWI •» ~
~ u°4!J.} ~ t1L.. •~lill taken part in such negotiations at w~ ~ f' l.J) Ji ' ~_,.JI
to this rule shall be admitted unless
LA.JS~_, ~_,JI_, J.-.S_,..JI ~ Principal 's request, or if Contract .L...WI .-......:-
- . Ii\. ...r.11 .i.WI .,:.}~. ... ..)'"
·
different arrangements are made
ul....o_,l.WI ~1-l.!.) l;.!\:;$ ,).i_;hll Products covered by a contract e:---4 .J-S _,.JI ~ yi Jic.. ~ .JA!
between, and confirmed in writing by,
Principal and Agent at the very
tJ~\ 1:i.___.. l"ly) .)) ~_;...II concluded by Principal with a customer '.L...WI ~! (.J~,..;;... J:..c.
ijlJJ')I 1:i.___.. ~~J . .!!µ\ residin~ outside the Contract Territory .)c J~I .J.i..l.lc ~_,II~
beginning of negotiations leading to the
conclusion of such joint venture ~4')1 .:..1~.;_,.i1 ~ ._r.~1 are delivered to the Contract Territory, ~Lr-- (%0.) ...._;w4 c ,
business. Such written agreement shall ~ _,ll .U_,....!I 4-.ic. ~ ._;.II then Agent shall be entitled to receive .,. •.;-iill L4b ~14..l_,.....!1
. .U_,....!I 04} ~,WI ~I ..ill~ J 50 per cent of that proportion of the ('\) oJ~I .j-o ( \) ._r-.).11 ~1)
set forth that portion of the total
supplies on which comrmssron is commission due in accordance with . ~\ 4..h_;JI ~
payable to Agent, as well as the par.2 (sub-par. I) of Article IX for the
percentage of such commission. stage concerned.

6) Without prejudice to par. 5 of Article CJ.-A ( o) • .fal4 J::b')I !"~ t;A - i 4) In the event of a contract being signed ~l+--J! ~ L.. Jic.. ~_,, 4JG. ~ -!
XI. any and all claims of Agent for u\..._,J\.h. ~ fa (' ' ) oJWI after the termination of the Agency ~_,II ~ • L.._J\S_,II Jic..
services rendered and expenses incurred
LAIJi ~I uL..~I J=- ~_,II Agreement, Agent shall be entitled to t~ 'j I 0"- .;.,J _,..c .)c.. J _,.......,JI
by Agent shall be deemed to have been ~ w LA~ ._;.II '-":!}-·....JI_, rec~ive commission for reporting the wl....o_,l.WI ~lyi.! d-J~I ~
)i.ill ~ "J_,....!I r}~ 4-! ~\.!_,JI busm~s~ and for conducting Li,J:. ..illj J .i.i..JI !"I ...>!.I .)! wJi ~\
satisfied by the payment of commission
~ .:..4)1..h.JI .» u.i\S lj) L..c. negonauons leading to the conclusion ..,.._.......; l.J) ('I) oJWI ..J-o ('I') 0 .,;ii11
irrespective of whether such claims are
. ~ _,.;l.i ~I_,I _,I .UIS_,II Jic.. .)! of the contract in accordance with par. 2 ~) J_,'il l'L...._WI .) .i.WI r1..>!!
based on the Agency Agreement or on
legal regulations. Any exception to this •~Lill .4--J ~Lt.:....! 1..51 ~J of Article IX if the conclusion thereof is ~l~~l_,~l..>~I
. ..r.~\"\.i:L:l..l
rule shall be subject to written 0 . ~redominantly attributable to Agent's ~ o.i-. ~ J,.s_,II l+! !"Li
agreement. introductory and preparatory activities .ii .i.WI ..ill.J wfo. wl ..b~ .UIS_,JI
during the term of the Agency ~,.JI ofall 0_,...;...:. . .L!;_i -----+
If Agent, acting on special instructions ~L...11 .U~ ~~\ ~_,II ~ \j)_, _Agr.eement,-alwaysprovidect,-tmw~ r, · '~l:..ll ..b_,y!JI'.)
form___frinci al incurs ~~,..14>-~,i.;·...,..:..·~-..;;-.,,..ii:---.......;.,.._~-- that the contract in question is
exceeding Agent's obligations under ~L..lyl) JJ~ ....:.LJ_,->"""'" concluded within the period laid down
the Agency Agreement, such as in ~ ~ ill_,11 Jic.. y.;...JA! in the "Special Conditions".
connection with a bid bond (earnest } (w>-!...>") ~u.....1 ~I~ ~~
money) or other collateral security, J-- c.>- wfo. • .)l....o) ~b 1..5\ 5) If a contract has been concluded with a .!.I.;~_, ~ t;A Jic.. c"...>!i \j) -o
Agent shall be entitled to be reimbursed oi...A d- ~,.JI ......OJA:! wi J,.s_,11 customer where, in addition to - J-S,.11 ~! ~l....o')~ - ~
by Principal for such expenses. . ....:i\.!Jy.....JI Principal, other firms participate as l+-i--o>11.S.;:>..\ (.)Q~ ..:.IS__,.!.
contracting parties (consortium or joint- _,\..:.is~ ..>WJ} ~w i....01_).i
If Agent, at the request of Principal, ~ ~1.1! ~_,.JI J,.s_,JI ~\..... lj)_, venture business), Agent shall be , (.!.!~ JL.._.....ly tJ~
shall assist Principal in negotiating with y,A.11 t;A t.>c>JWll .) ~,.JI <.,..J.b entitled to receive commission only for ~ 'J) ........J_,...c ~_,JI ~'J
third parties with the object of ~ JI ~_; l~l u~ those Contract Products which J._.S_,..JI c.J~ ~I .i.WI .:..~
 concluding a license or manufacturing
Article X: Accrual and Maturity of .>&._,.. t~J cj~! : (1 ·) ~JWI agreement granting Principal license or
Claims to Commission ~~ ~1 manufacturing rights. then the
reimbursement to Agent of the costs
~I.:_;\.$ lj), jl~\11 ~ _) -\
I) In all cases where a contract is subject incurred by Agent in connection with
to commission within the limits o.l~\ .lJ.all _).U,....J~ such assistance may be covered by a
specified under Article IX hereof. ~'j ~I lit. :_ya(°') oJWI _) separate agreement to be made from
Agent shal I acquire the claim to such -lo.! 'i) .U,...._II .~ ~U:.....11 ~ ,lJ time to time.
commission only after customer has. Ji Y:,4-o ~ ,1,.. - ~I e-
~I ;\\.,.JI - .. :11 • .L ·
directly or through a third party. paid in c: . .Y-"' .Y...r' ...F- 7) Principal shall be free to decide on the _;~.) _) l,p. JS,..JI ,j~ -V
full the amounts due to Principal under J,!_;j.ll .li.:. ~ ~ JS ,...U j..W~ basis of sound commercial judgment &--JI ..;_;~I Y-.li:lll .).1 IJU....)
Ji , Ll.,.JI ..;,lj ....__.~1 .li.:. Ji ~_;~ L..ii...... r~ .:.;\.S 1:i1 L.
the Supply Contract and/or Service whether or not to conclude a business
'"---! r ~ ..:..i;.. t}.l ..s i J . L.w)l.S .» • .;.ll+--! ..;.,..:;

I
Contract concerned. Any provisional deal initiated by Agent. and if Principal 1:i!, , 'i ri ~ ,11
~'i ..l..i.; ,\j_,ll .fafa. ~I ,.HS,J.l ~'i .:.il..Ull JS,..JI ~.
payment made by customer for the shall refuse to contract. then Agent
j..:... ..;,l.lil..-w ,U.C.) ~_).:.:;:.
purpose of fulfillment only. in shall have no claim whatsoever in ..:.UL.$ 4i ~u.. ~4 ~ t ~;
~ 'i ..:.\5+--!JI} ..;,'j~I
particular by giving such instruments as respect thereof . . ..ill~~4
.J-.o ~ j..~ ,Uc.) ~~
hills of exchange or cheques. shall not
• · i .)1. ~L.1 .r.
;~ 1 •• \1 JS Jl.!.wo ~..J ·:.11
be regarded as full discharge of 8) Agcn~ shall have no right to assign to ,j....-L y,i1l Jjlr.11 ~,J.l ~'i -1\

customcrs obligations until Principal is .~~~~,....U~I an·y· third party any claim to payment .i.....j,:. ~ i...:.l'..t}.ll4~U..~i
. ..:.1.i.r.......JI
satisfied from such instruments to the ansmg out of the Agency Agreement. j.....:o. ..Si ~ ,J.l ,j fo.'j J • ~\.$,JI
full amount of Principal's claims. Agent shall have no lien on. or right to s j~ .l:.~ )'I ~ Ji _)c. j4J...)
ret~in possession of any goods or objects L....Sl. :.;,___s; ,~i ,i ~~ ~i
2) In the event of part payments having ..;,l.._s;. .,S.i.. .)c. jw'JI 4...lu. .) - " which arc the property of Principal. .JS,...U
been agreed upon between Principal ~·~1,JS,..Jl~~fo
~,..... ~ ..;,w..i _,.ilJ ~,ii
and customer. Agent shall be entitled to 9) If Agent shall represent two or more ,i. ~ ~ ~,11,jl.S1:i1 -°i
receive reasonable advance payments
~ .l.....lc ...___j ,...._II ~~ .)<:- di visions 0 r the KrupQ..Gmup...then-aA"-_,..l.;_.;1-c-~~~-=-J=-.?-.=...>"':".
~;,s>:::r __
on commission account as and when
. 4.foll ..;,L._..j.lll •:i+J JS,..JI
? such divisions may set off any clai;1 ..;.>-=H.) rL-J°'il .it. :_ya~
-------~-uch-fklr~mern~ e-reccived-b ~
1, ......:
.)) 1.lU:....I ..!l_,.i.;ll ~i
.. J
.»
u ~as against Agent in respect of any ~U.. ~i ~ oJ.wa_;YI ~.....,_ti.
Principal. The same shall apply if claim Agent may have under the 4. ~ L-4 ~_,!I ..i..:.. .u
Principal has received funds from a
"j.ay,-A" ..b,~ w, ~ .:.;..;.. Agency Agreement concluded with anv U\.S_,ll .lie.~~ ~,J.l ~
~_)..:.:;:."~-.>-t...i_)c.,i of such divisions. • ..si t:'" r~I
bank on the basis of a HERMES- ·rl.....l°'il .~ .:.;.. ~
j..il~ ~\ ..;,t.:,.:w. • '';' J • • .:.Sc.
insured order or a business forfait" "a
and the Contract Products have already .~I~~> I 0) .. Unless otherwise agreed upon in 4.WS ..ill~ ~ .)c. ~ t1t.. - ' •
been invoiced to the customer. wnung and/or otherwise required under .....i»« >
~Li )1 ~1..,J .,.A:;:; Ji
exchange control regulations. the L.:.IS ~ Ji , ~ ~ ..;.L:l...JI
If only part of the installments agreed .j--A -,» .,s,.. ~I ~.l:! t1 I~), commission shall be payable in the same .u...!I ~ .U_,-)1 ~ , ~I
upon have been paid by the customer ..>-'" ,jl.S,' ~ ~1 ..bW)11 currency in which payment has been . ._s_µI I+! ~ ..,:;JI
effected by the buyer.
 advance. fails to pay, or if customer ~I ylU. 1.lJ _,i , L...li.. ~li_,!4 and if it is certain that the rest of the y,t:., Jl,:..::.... ..bL..iY I ~4 1) JS .;.JI
demands reimbursement of the amounts ~ J..iJ4 ~ _,u.11 tJt.,....11 JI~ installments will remain unpaid, Agent J._..$ _,.JI ..s1) J,;S _,JI ~ , ~ _,iJ...
already paid on the grounds that • .UL.I )'!4 ~ ~ J$ _,.JI 1) V'L..I shall then refund to Principal said o.i..._µI o .;~I ~I ut..hll
Principal has not met his obligations, L-.JS .u_,..c. .l'....l.ic J,;S _,JI ~ advance payments on comrrussion ..) L.JU. .o......J _,....JI yL-...,.. .)c
then Agent shall be entitled to ~~JI~~~ account in so far as Principal shall not «.:;Ii,·, •• .)c ~ ~ jS_,.JI
commission whenever a civil court or a I~ ..s1! ~ Y- ..4-11 ~Li J ?'Jc. 04 be satisfied for Principal's deliveries . .UL.~_, u.......ll ~~ ~
court of arbitration has decided that the ..,_.;4 .)....-< ~ L..J _,!I ,:y:. '-...ih:i.11 and services.
customer's non-payment is justified by .J,S_,.JI
such default on the part of Principal. Non-performance on the part of the ..4-JI Y4 .,:,_. ~ u _,!I rJc. ~ J
customer in respect of the remaining ~ ~ ..bL..iYI ~4! ~4
4) If Principal shall exercise a right of y~)'I ~ J$_,.JI W".JL. 1.lJ -f installments shall, for the purposes of ~~ ~I_, L)!l...JI ..r- .)11 ~4
withdrawal agreed upon with customer, 1.lJ _,i • ~It;--"~ ~I the foregoing sub-paragraph, be deemed ~ .J e;iJll ,:y:. J.!......}I UW WS
or if Principal shall be unable to fulfill ~L.1)'!4 ~li_,!I ,:y:. jS_,.JI ~ to be an established fact whenever the JL_..,)-' Ju,:.____.. 'i I Jc. >" t-'1!
his obligations for reasons for which _,i. ~ 'i;...... .:;fa'i ._,,~y customer has failed, in spite of maturity u._;, WU._, • ~ _;P.i:.11 .;L...:.J
Principal is not responsible, or if ~ L,Ji )Lie ~_,:..JI .,:,_. .:fa. ~ 1.lJ and reminder, to effect payment and <.J--o ~I .;,,'J _,1.:.-JI ..s _,~ rJc.
Principal cannot reasonably be expected y~Y ..:..L....1j'.al'i1 .41 J$_,.JI such attempts to collect as Principal 4-J~ ,) J,___;...... ~~_,:..JI
to fulfill such obligations for reasons to r.J 1.lJ_, , -1-JI ~ ~ ~ may reasonably be expected to make 1.lJ_, , t---4JI ...J.-+.....>.: j_S_,.JI
be found in the person of customer and .~ 0-- I.SI ~ ~J.14 J.!......}I ~ have proved unsuccessful and if 1.lJ L..... U~ ~ - J$_,.JI ..;.:J.;
if in any one of these cases customer ....__,.Jl..h..ll J,;S_,IJ ~'J , u'JWI Principal. in the event of part of .i.......:;L.1 )'!) .)....-< ~ ~ JIY,'i _;;1.S
does not effect payment, then Agent . -<l_,.....J4 Principal's contractual obligations ~1 - ~ ~u_,11 ~ ~ -'..;.lit..::.J1
shall have no claim to commission. being still unfulfilled, has refused . .li.JI ~.)Wi
further performance of the contract.
5) Accounts for commission due to e:--i.; JS iJ.o r y, J_,I u-i '-' J >i - o
Agent under the foregoing paragraphs ~I L-J_,_JI ..:..41......o.. ......... It shall be for Principal to decide on the V'L....i u-1c- .;~.) jS_,.JI_,
shall be rendered for the preceding ~ ~l..JI ul _)ill ~ Y'! J.!5_,11 basis of sound commercial judgment ..:_il._£ 1.lJ L. ~I ..s)-~:JI .):1-lLJI
quarter on the first day of every quarter. . L)!l..JI J..l...11 tU whether or not to take legal action to Jl.ly._..,.'J ~_,.;u ~I~) ~
_.....,...-....___ ....._.......,er_lhe-amo.unt du &om th--:-"'1-.?'h:!µi:lt-L>"
-~'""""1~1--:-::11 -----t-
commissie amounts -s""o,..--"7""77'"""".""'"11'1 '"'.'tJiiLi..-.
r1_,_.1-1i1 fo-;.::-_,
-w:-.
determined shall be payable within 30 w~ u-i ~I ~I_, ~11~
days of the date of accounts . .:..,4L..,,J1 (3.;u U.a L. Y. I" • If Principal shall obtain compensation u-1c- ~_,.JI J,,...,.,. 4Jh .)_,
under an export risk insurance policy, J..:.a ~l; ~Y. ~Y'! (_}4.1,._,..
Article XI: Computation of Commission Agent shall be entitled to receive pro- µ_,11 ~ , ~I .):.6....
rata commission as and when such ~! .l.ic ..u,.....; ~ ~_,..c. ~
I) In the case of Supply Contracts, the payments are received. . t14-JI .~
rate of commission and the graduation
thereof, if any, applicable to the 3) If customer, in cases where Principal ~~I .:.F- J.!......}I LIW 1.l) -r
different Contract Products shall be is obliged to effect performance in J._S_,.JI ~ r.fa. ._;!I w'JWI I
/ 1
 account or deducted: stated in per cent of the product value in
the .. Special Conditions" to the Agency
a- Special charges imposed by .....---:a1 L...w.WI ..;_,lj .i~I - i Agreement.
government authorities and shown ~µ1 ..:.LhL....ll ~.)J
separately in the invoice to customer, ~ o.l.-....>o. ..,.le JS ............. _,..11,., In the event Principal being compelled .)i J-S ,.JI ) _;--h..o! ..Ulo.. ..,.;J
e.g. for certain alloys, for scrap, or for u:a..r-Li ._;JI Jj..., J!-11 ;.J_,:;lj to reduce substantially the quoted price ~I ..S_rA fe ~ j.._Ji;
equalizing freight rates and prices ; ~,,l.~..tl:.4--..,.!c. in order to secure the contract and , .l-i..11 ..,.le j~ ~J~I
w~ ~ ol.il......JI .ii' o.iy..ll Agent also having failed to get the > J!-11 j..:.. ..Jc J!$_,JI feJ:. .!
I o) ........ i,, ..j_,l_,:.11 customer to accept the quoted price. j~, ~J_.>---A-.11 ~I Jyi
then Principal may demand that Agent ~_,JI .j-...A ~) j_S_,..Jl
b- Any claims Principal may have J-...Q J-S_,..Jl ..:..~Lb... ~i -.. .,., agree to a reasonable reduction of his j_,__.i.... j,_.Jij ,.lfi') > .uil_,..JI
against the customer for payment of ,.,i ..:..~~ t---9..i ..Jc J!-11 commission. If no agreement is reached ~_;;JI~~ l.J)J . .u.l_,..c. ~
damages or penalties; 1 ..:..L..1 .Ji:. between Agent and Principal, and if , J-S _,..JI s ~_,JI ~ Jw.1 ._,.l!
Principal. for this reason, decides to ~.J ..,...,.....i1 14J JS,.JI J.) l.J)_,
c- Royalties, customs charges and all Wl....j.i~IJ • j~'jl ('Y"J -e:;: refuse to contract, then Agent shall have u--1c tP--)1 Jl$_,.IJ ~'i .i.il..Ull
costs and charges involved in ..:..l.-..iilll J._..S.i • 4~1 no claim whatsoever against Principal L-.,.; ..:..;LS ~i ~ ~4 JS ,.JI
financing the business for the u-9 ~Jj ..;JI ..:.,lj,.,~I J in respect of such refusal. .~)114!~
customer ; iJ:-11 ~4 ..:..w..-11 J!_,...J
2) The actual amount of commission .........i~ ~I ~I ~ -Y
d- Support premiums or charges ......__._,c..i..ll ('Y" )1 ,,i ..bl....!')11 -.i payable on Supply Contracts shall be .:;....... ~J_,:JI .i~> ~.i y;--1_,JI
payable in the case of barter business Lii..o
Ulo.. ~ ~hll ~1.i calculated from the value stated in the ~I •.J_,:;lj ~~_,..JI ~I
or similar transactions. ~L.....!I .ii ,_SJ~I j..il.,UJI invoice for delivery on an F.O.B. North .. Ll:!-o • ·.. ,.,_,_j· ~
U"L..i >
. ~lA.JI Sea port or free-at-frontier basis after .i~ .lie. µ1 JI • jl...:JI ...>"'-!
deducting .any incidental costs such as .l...-A.! ~~I .ub..11 ~ ..U,,.iJI
The provisions set forth above for the .)L.__ci ~_,.JI rl.S.:..YI ....s~.i packing, freight, insurance, inspection, ~ts:; J... ~_,.;~~ts:; ~i ~
calculation of commission payable y;o.>41 t9.ill ~1.i ~_,-.II....,.,~ and public and other charges (net ex- ~\-JI ~\:;JI · ~~-~·~-ill------t--t
under Supply Contracts shaJI also apply ~l~.)Jl~.ll ·1.i· .,.___ 'Wl'rrk'~s-pfi"CeJ.'"ft= ump sum eauchon of ~,,•~WI wl.i.i~l.i
________ , ,1utatcls--mtJtand1s-to lre-c"ata'ila ion o ~JJy-0.ll wl ~I t:-' up to 5 per cent shall be applicable to ~J -(~L..... ~I _,.....)
commission payable under service y;-. >4! t9.ill ~1.i ~_,-.\I ....,.,~ cover these incidental costs. The actual ._;w1 ..,.-i 0
~ .)4! ~
contracts. .~l.J~ percentage of such deduction shall be as . <1._....i_,;t=.ll ~.Jt.-.11 .:i.. ~
laid down by Principal in the" Special 1:+--J ~I ~~I ~I ufo.i
At the time of submitting his offer and Conditions" for his different product u--i ~_,..JI t...~ L..S ~I
of sending his acceptance of order, groups. • • t;..t • L......WI .bJ~·
Principal shall inform Agent of the . ...:.~..:..\.&>~
actual amount of commission likely to
.ill:l ..,.Jc • _i:k. .i
be payable. This shall, however, not
apply to the sale of series products,
Further. in calculating the commission,
the following shall be left out of
....,.,~
i>-a ~
.lie. .u~ •
,,I ..;.'it ~ ....i_,-.11
I

I 1
 spare parts and other small business. JL..:.'JI .j-o ..!L..Jj ..)#. J .J~I
delivery of Products but also for their
assembly, erection or commissioning in
JI~
~! u--1 ~
..,1:. ~i ~J ~
.. ~JI l++.!S.Y ··~
the Contract Territory, then, j-....A ~..b.11 ...,..,..1 J ~I u!-i • .lk.11 3) Discounts granted for advance or cash _)c. ...._,._,;...JI w:'.:4..fa.11 ~'i -l"
notwithstanding anything contained in Ji ~I w~ ~ J!......JI payments shall not be deductible from ~I ..:..w..ill JI '-....ii.JI wW.i.11
par. (I) of Article (XI) hereof, the price h~'i o.lA ~I .. ~JI ~_;.JI the net ex-works price as defined in par. 1--" ~ _)t...., ~I ..>"-" ..).-
payable by the customer for such <1-..J _,_.II yL...::.:..) .i.;c .)\.[»;.'jl ~ 2 above. Rebates of any kind shall only . o)l. ...... d ('") o _;---WI _) ~ _,..
assembly, erection or commissioning _,___.. L..... trZ sl :.JC- _):u.11 ~ be deducted if expressly agreed upon in t ,_; ..5 i .» ~.fa ~i ~'i J
services shall not be considered in o.iL.....11 .j-o ( \ ) •.r-.il.11 .) .l _;I J the contract with the customer. aJj ..,1:. ~I.>- W:... ..jl.S lj) 'i)
calculating the commission. The same ~ S~J . .lk.11 1.lA .)Ao('\) . J:-.11 t'" ~I _)
shall apply to the delegation of ~) _}) .ii _;ii '-:-'I .lli) ..,1:. ~I
personnel to the Contract Territory for JL_.c.l ..,1:. ul~'jl c.fofa. .lWI 4) If. as a result of the operation ofa _)~I ~I~ lj) -!
the purpose of supervising the erection . ~I .. -l! JI ~_;.JI price vanauon or escalator clause ~ 0"'~ .ll,J 'ii.=) .... ~
or commissioning work. stipulated in the contract with the ~ _;.lit.II J.!.l4ill Ji , _;a.wJI
customer lo cover subsequent variations t--4 c"_»JI .lWI .) ~ L.., _,...,.;..
In cases where the performance of a .L....,W; ~ ~ u=JI w'iWI ~ in the cost of labour and/or materials. _)~I ~I~ J:-.11
contract requires considerable expense u.....J_,!I U--- ~ y5 J.li .lWI the net ex-works price shall contain Si L....ils:J Ji .ii _,.JI J tjt.....JI WS;;
of time and effort on the part of Agent, 4-'i J.-....:iS_,JI ..,...;~ o- ~IJ additions or deductions as compared wL.....~ Ji .:..L....SL.A) - 4.1..
particularly in connection with overall ~L...!..11 wL.....~t, ~ ~ with the price originally agreed upon, or ::L....i ~ ~I _;a.wJt, ~ .Jli.Jl,
erection services or the setting up of 41.S wl~ ~fa. Ji ~Jill if such price additions or deductions ..:..Lll..A)'I o.lA ~_,...J..::....:; lj) } ,
complete plants on a turn-key basis, cl:li.. ~ L>"t....l ..,1:.
J._........o..i>:! • shall be settled by the parties at a later ul_r-1.YI ..,_.;~ 04 .:..t....,_;JI Ji
Principal and Agent shall come to an J~ <JL...i:i) u-l! JP_,JIJ JS_,...11 stage, then such additions or deductions ..:..ut...;,,,'jl • .:i.. ..;µ ~'i 4..h->".)
agreement on remuneration before the . ~I e;- .lWI ~-" J.;i .Y?-YI shall not be considered in calculating ~ i...._;,.:;.'J -::...1.,.......,_;...11 JI
contract with the customer is signed. If 0---o w\4Jy jWJ r-.ic ~ .)J the commission. . tj _,_JI yl.....:.. .i;c. .)\.[»;.'fl
no such arrangements are made and if .. L.....li JP_,.11 ul.S lj!J • J:..!ill 1.:i..
'J • ·'lri~J._-----t1-
Agent, at the express request of .i._j JS_,.JI 04 ~->'""..,..Lb~ _!jlil1L--...;N~o;t;;w~i;,th;;s;::ta::nr:d~in:;g~th7e.is'
~P~r~in~c~i~;:-:'.::-
.1:,~"
Principal, rendered substantial extra ~ ~""tiL
'......._,,tL..;,,,~ - rerm urse Agent for all or part of such J.-S JI tfa-.."-! :.JC- JP _,JI JS_,...II
sel'Vi~ or said purpose, then Agent ~_,.11 u~ • .Jfi.i...11 c.>ofl extra expenses as Agent shall prove to ~ u=Jt 91....;,,,)'t wliJ~I
shall be entitled to be reimbursed for .....&uL....-.11 0--'=- ~_,.:; ~ have incurred in the event that it was J_,_,.i ,J.5. ljJ \A~ .ii .ul JP_,JI
the expenses Agent proves to have • .:i.. .. 1.il ~ Lu~ .li .ul ~ u=JI only by his special effort and expense _,,. L.. .;a-wJI .) •.il,ij.11 •41 ~
incurred in rendering such services. . wl....~I previously agreed upon with Principal ~Wt .i~ ~fo Y!
that the customer could be induced to ..,.u4 04 ~ u=JI wliJ~IJ
Article XII: Limitation of Claims .;.1 ,·P.lt..all ~ : (' ,. ) &Jl..-o.11 accept such price increase. e:--- ~ JU'.il ..,1:. .. ~ Jfi_,.11
arising out of the Agency Agreement : W_,Jl .lk i::P- ~ .JS_,...11

Any and all claims Principal and/or JSyJ.1 u.fo .li u=JI w~I ~ 5) If the contract made with the customer J-.-:!-11 e;- r-_»JI .lWI 01.S ljJ -0
Agent may have under the Agency ~~~~JI Jfi_,.1.1.JI provides not only for the supply and w~I ~J ~.J-" ..,1:. ~'i
Agreement shall be limited to a period of .Ai ~~ ofo. o.l~ 0.fo ill_,.11
 Without limitation as to other possible L.-4 ~I 'i j~I ~ ..)c. J two years following the end of that ,·, >1al..;Jl~l~lc.t,:..i)
important reasons. such cause shall, in ~I ..__.l+JI y4'"'Y4 ~ calendar year during which such claims , ~ ..:.i~U:...11 • .la. ~
particular. be deemed to exist: L....j\j ~I ..tl}j fa I ..s .ft YI have become due; this shall not apply to u1:. ..ill.:i 43 ~'i J
~_,II ..:.i4JU...
- :~tJI w'iWI .) ~L:>. ~ such claims of Agent as Principal shall . ~I.>- ~ JS _,.JI u ~ _;JI
have expressly recognized.
a- if one of the parties does not fulfill ~..)JI ~1 '--'---:! r-11:i.1 - i
its obligations under the Agency ! ~ts_,JI .lie. '-:-"?->4! ...:;1...1_;:.J4 Article XIII: Life and Termination of ,.~!J d-;..)....- o~: (' f) o~
Agreement; the Agreement Ji.JI

b- if one of the parties becomes j--..;!S _)JI ~i u.iL...a lj) -y I) Unless otherwise specified in the "Special ' ..__WI .1. Jy!JI " ~ rlL.. - \
involved in financial difficulties or .. j-;>. ~ Ji """11... ...:,4,,._..... Conditions", the Agency Agreement shall .l-.Jc. 43~ ' ~ ~ u-1c
loses an essential part of its property r.) i:i) JI ' ...:;l.Sl':i.... .jA 4...>" ~ run for an indefinite period. ·~ ..)#. ~"J ~ts_,JI
or if composition. bankruptcy or other t--' ~'/I._:-.. iJIJ ~
debt settlement proceedings are ~) ..;y:..i ~.J Jj ,~I.ill 2) Either party may terminate the Agency .l-.Jc. .. ~! u._>----1.. 43Y JYH -Y
instituted against its estate or if it ...::,1,.1~) u--
J.LJ:i ..>#- Ji , Agreement at the end of any calendar rL....c. ......a.____... c.S i ~l+l .) ~ts _,JI
enters into liquidation ; lj.1 Ji , ....s:iL.i ~ u>.!.l!I ~_,.....:; half-year by giving 6 months prior ~ ~ .;Uu.! c.Ll..c.l-! ..s~
! ~I .) ....s:iL.i ...:..h.i notice by registered letter with return i..s--"'° _,... J;......... y~ J~ <.....
receipt. Provisions deviating from the iJli:i'jl JYHJ . J,.,..- _,JI ~ ~
c- If Agent's firm. operated by him as - ~_,JI '-S ~ wli:U) lj.1 - ~ above may be agreed upon in the .1. J~I • ~ .!L.....J.j ..)#. ..)c.

sole proprietor. is transferred to a third ~_,JI ..tl!WI .,,;,.... >! lA Y.~ ._.:JI "Special Conditions" to the Agency .,.J ~ J ~ts _,JI .lW ' ~WI
party by act of the Agent or in µ_,11 .j-ou~ ..>:"JI.))- Agreement, but in no case shall the }-~'/I o.lA J'ij'J Jl~YI ~
consequence of his death ("inter vivos J I ...__:;6. i.s-- . •) ...:;u-'~
,. .• Ji period of notice be less than 6 months. ·.)~~ J:.
or mortis causa"): 1 ('w_,.11 ~
3) Either ·party may without notice .l-.Jc. .. ~) u._>----1.. 43"; JJ'H -'\"
d- if, in the event of Agent also having ~i e ..)Ii .ii J1S_,11 .jlS 1:i.1 - .l terminate the Agency Agreement ~ L__.lS .;Uu.! ..JJ-1! tj\.S_,11
concluded Agency Agreements with ~ ..s.ftl rUi C' ~ts, .ifa whenever an impo.ctant..reason.for-sooh-•lt=i'i1~'11'"1~:.;..,,....-~...,......~-------r-
other div·s·o e-..K.rupp.Greu , ~~J .J ~ termination exists (termination for rl+--ll y,i..J1 1.l. .fo.u.J . (~
---------a-ny such other division has terminated Uts_,JI .l-.Jc. rL....!"YI • .la. ..)A cause). Such important reason shall be ~'J ....:.J~
wl..!.l \.JS Wti
its Agency Agreement for cause ; ! l..~~u-oWl deemed to exist whenever L-oS ~JI ulj.."il ~"; 4:!i
circumstances arise under which one J.--1>.! wi J_,ia.. JS..:.,. ti;... y.
e- if Agent has, in particular, failed in L...:.L:>. ~ J1S_,JI ~ lj) - __. party or both parties, considering the u~I .) ~I J .uts_,JI ~
the duties assumed by him under ~ >4! ~ U, _,i&ll w4:!-I _,JI _) nature and the purpose of the Agency ,W\.S_,11 .l-.Jc. c..fo..>---.i:-J ~
Article VI hereof. . .ii.JI 1.l. .» ('1) o.iWI Agreement and the rights and duties ...........ic. ~WI .:.41_,11J <J_,&.JIJ
arising therefrom for Principal and/or . ~ _,I J.!S_,JI JI JS_,..Jl
4) On termination of the Agency ~' ~ts_,11 .ifa c.4-i! .lie. -f Agent, cannot reasonably be expected
Agreements, Agent shall return all data ~I iY~_,II J ww4'JI JS J..S_,II to continue the agency relationship.
and documents made available to him by wl..~ )1 l..,i..'i JS_,.JI .U lA.) J
Principal, in particular, drawings,
2) Any disputes arising out of the Agency tlj.i ..si -Y
L.JlS_,11 .i.ic. ~ ~ advertising material, prints, etc. as well w'-' ~l.J ~)'I Jl_,..ll .J
Agreement shall be referred to the • ~ ~.».)j'J' ~ .)! Jh:! as the original of the Agency Agreement. • ...Jl$ _,!I .i.ic. J...,.l ~ .J , ~ .J
Landgericht Essen as the competent t--"J . ~I ~I lt.i..oJ-! Agent shall have no right to retain .:i.. oj~ J.;.~)'1 JP_,ll ~'JJ
court. However, Principal shall have the .::..1.1.,>--;.)'I :i~! JS_,.JI ~ ~ possession of such data or documents. . ~~_,!I JI ..:..U~I
right to institute legal proceedings at the ~~I~~ ¥_,;Lill
court having jurisdiction in Agent's place . JP _,!I J..c. jlS... 5) If one party gives notice of termination l_;L....h:..) .).!!.)JI .l:>-1 ~j \j) -o
of business. of the Agency Agreement to the other u _>---hjl ~! ...JlS_,!I .i.ic. • l+.l~
party. then Agent's right to represent ~ ~ J/$_,11 ~..hi.. y..\11
Principal exclusively shall be cancelled I~)~ _;_,....i.. ~ JS_,.JI
as from the date of such notice. . ..)~)'I 1.l.. ~ju ..jo

Article XIV: Alterations and

Amendments

Alterations or amendments to the Agency .l......W ~.i.:JI .,I ~I ..;~'J

Agreement shall not be valid unless . 4;~ t.~b ~ ~ ...JlS_,11
confirmed as such in writing.

Article XV: Law to Apply - Place of - ~ J_,......n ujl1ll : ( I o) oJW

Jurisdiction ~~'/l(Jli..

I) The Agency Agreement shall be c.JyLill wl.S_,ll .l.-ic. ~ - '

governed by German Law with the J-..,iS_,ll c.Jfo.) ~i ..,Jc u-'wYI
proviso that Agent shall have no rights J_S_,.JI ~I_,.. u-9 t.i,U. ~i
vis-a-vis Principal over and above those w ~_,;...JI J_,i:.JI .!lJ:i ._s.llU:i
fl---~g~ra~n:;te~d~;,h;;_:im~~u!'.n~d~e=r
:i'.th~e::s~e~"~G;:e:n:er7:!"-.1.~~~~ •..------t--
~1,-..:.· ,.............""JA./'"'"
on 1t1ons" and under the "Special ~ ~lS _,JI .lW ~WI .b.,y!Jl
Conditions" to the Agency Agreement .~_,!I c.JL.S. 1:iJ L.c. ~
irrespective of whether more extensive 4wl ~ c.J.J--4J1 ..J~.,;~I
rights are assured under German Law to ..,_.,..JA! ~~fol Li_,i.:.. j~
commercial agents resident in Germany. . u-'i....i'JI jylill

For the interpretation of the Agency ~_,11 .i.ic. ~ ~ t...,.i.,

Agreement the German text of the Agency .l......W u-'t___.f.J 1 (.)4ll4 iii.)I I .lA,
Agreement shall prevail. If desired, an ~~)I ~ ~.J , ill_,JI
English, French or Spanish translation will .,1 L..;!_#J 4 y <->'Y.. ~
be attached. . ¥4--1 .,1 :y.....; _Ji
 t.i~~J.ic.-l'

WHEREAS Distributor desires to sell. i>.i_,__.J J ~ ..,i ...,.,;:. Y- t.;_,..n .) ~

J Exclusive Distribution Agreement
market and distribute Goods supplied , ".;~I' L..AJ.;J:! _;.II -:..~I tjjfJJ
~w..,14 t.;.,.Jl ~JY ..,i • .;~l" ~ Y-J Date of Agreement: . .................... : .li,JI .>.u:o.:i "".;l:i
by Exporter and Exporter desires to
~ ~I .;l..!..JI ~'JI ._,i ...s ~ J"l...I .)c Place of Agreement: New York .!l.;y,~ ' . . . . . . . . . . : .lWI y,_yoj :,lS..
so provide Distributor with the Goods,
all on an exclusive basis in the
Territory hereinafter referred to.
· ~
PARTIES: : Jia.J1 u1.;»i
(I) Export Corporation. LA,;...J. -'£~ . I
y,.i....o.:;ll ..•........•...
the parties ._...Jc ~ l4 1 of New York.
NOW. THEREFORE.
,}i _)JI Ji:il .iii • , ., ..:..L-l 'J ,14 • .!!.JY-~ ~ 'J ~ , . . . . . . ..,i
:~I... U.S.A. hereinafter referred to as ~ 1.4 ~! J~J. ~y'it ;..l.:>.Lll
mutually agree as follows:
"Exporter". . '.;~· 1""'"4
I. Exporter hereby appoints
t»-1' .li.JI I~ ~J-4! ".;~I"~-\

Distributor as its exclusive ..sLll ~'JI~~~ l~J ll:.j,.. (2) Co .. of . '·········· ~ U.faJ • ········ -'£~ .Y
lN\' ;.,) .l · .. (·..
Distributor for the Goods in the ~J . e-o-~ ~ Cairo. Egypt. hereinafter referred
t . •. ' ...
J ....,.... L)~ ~ L.....,ii ~! J~J • ~ • •JAi.iil/
Territory consisting of the country ~ jJ;! _;.II ~~I JS "~w..,JI" .hi! to as "Distributor". . • tJ_...JI. ~4
of Egypt "Territory". The term J-S .. LW.......4 ~'J ~ .:,,... . .)~·
"Goods" shall include all Goods ...:L ...')l....ll ,..._....I~ t4J _;.II ~w..,11 STATEMENT OF PURPOSE
distributed by Exporter from time ·.;~" ,.~J ·Lt-! ~_,..ll ~.;\..;>:JI
to time. but shall exclude all Goods ~ -...,..~1 ~~4 -....ul! e.;_,..n u-3! WHEREAS Exporter is the exclusive ~_,11 u-lJ.ll' e.;_,..n y. ·.;~· . ) ~
sold under licensed trademarks. ~ ~ ..s-
1. ..... ·.II~ .. .;- ·· Y"·'J ~ J ....,....
.LI\ (_)"LL! · international distributor for TCD -s--9 4 0 o;;.u •. .) . .s-' . ,_;.... ;..s_;-:.i
Exporter shall furnish to u-3! -:.it... _,!...JI .~ • J . ..r" . _; " -'£ y!o Company (TCD). a manufacturer of ;.>0~'/IJ, ,j.lL....JIJ, ..:..~~I cl.:l;)
Distributor a listing of Goods . o.i:.:...ll ,:)~'J ,JI ~ l+:!c j _,... vitamins. minerals, amino acid ·~ o.Jcl.....JI .il_,..JIJ, ~I ~YI
available for sale from time to time supplements, digestive aids. yeast .:i2<· .I\ wJ-l)IJ' y~I w~J
in the same manner that TCD products. fish and marine oils, special L#Yt, .~~ ..:..~.faJ ·~~IJ
furnishes such information to its formulas. sports nutrition and other .,,s-lc- ~I .t.....l..'/I .:;... U. . .. .
US distributors. dietary food and outnuona ~I ... "I .ll_,..JIJ, ~l:i&ll .Jcl_,ill
--,,..--~.:\11!1;;-:;:rrooprere:nmite;;inii!ts~in
the form of capsules.
• ~L-........ J •u-o' _,_ii J w'i ,_..,.f. JL.!.
______ _.;,,,_Exi)Or..te-r-represen and-warrants---P- t.J ~J ".;~· fa. -'I' tablets. powders, wafers. liquids and
...J-.,:...) ~l:it.. w~J Jjt_,...J 'LJ""t.)iJ
to the Distributor that it is the -'£~~~~~,it ..)~I tj_,..JI food products (such as crackers.
~:it..'JIJ ..:..L,i_,h.llJ ~IJ wl..!.....)..JI
exclusive International Distributor ~1 J-S ......J JJ' ".J ·...s-- -~ cookies. candies, cereals). all of which
~) J~J (y~I .:;... ~ ,........i1 ojA4JI
for all TCD Goods and has the full ll:.j_,... tJ;.U1 ~ U..WIJ ~~1J are collectively referred to as the
1~J ~..::...:...Jtlii .J ,'~l.....A.!I'. lJI.. •.. ~
I""'"-~
right. title, and power to appointing J--ilJ:!J • ~""'!' ..,--i ~~ "Goods", sold under various names
the Distributor as an exclusive t.;.,.Jl ~~ ~..r.UJ ~_,..:; ~ '.;~' and trademarks (collectively referred
oi....A u-3) ~J) ~~I wt...::WIJ ~t......\'t
Distributor for the Goods in the t_,. . . .; ...si .:,,... ..:.411..h.. ~i ~ly ..,iJ ~ to as to 'Trademarks"), excluding any
(' '"--l.J~I ...:.t...::Wt ' 1""'"4 A! \.4 ., t...... 'JI
Territory. Exporter hereby agrees ..:.iL...-,.....;.JI t~ J)L;..)'1 .:;c.. ~ w.ilS 9 trademarks licensed from others until 4-! ~ _;,. ~.J4"=i ...:.L...'.:Ar.. ~I ~ ~4 ..!lliJ
to indemnify and hold the '.J . .s-'. ,_;... • w.;y. ~J .).)'!' 11\J consent to use the licensed trademark L.iit_,... ~ J_,._,.JI ~ j ..)) y,a.11.:,,...
Distributor harmless from and 1) .l.......S>J .l......ia.ll 1:i.___. .:,,... •.;.,..- ~i is obtained (the "licensed ~ ~J.ll ~-u\..;>:JI ~I ,_l~'i
against any and all claims of any J._..SJ ~,it ..) _,.i.JI t.;.,.Jl y. '.;~· trademarks"); and I (' 4-! ~_>JI ~.;~I wt...::Wi')
nature whatsoever by reason of any
 ~ ;..._;:u1 ~IJ ..ll.)\'I y,!yJ
promote the sale of the Goods to breach of such warranty and t;-:! • ...J_,_ill • .h_iJ ~.J . ~~
customers in the Territory and 1"~4tjJ-J\ ~J. U-:..~1 I~
representation. TCD has also w~'i_,ll r::_.J'--.:.. " . ..l ·<.S"' .~ ~~
provide the necessary personnel :isu... J_.S .s--1! ~~I ~ ~JY14
and facilities to accomplish this , ~4)1 ..:,,'jl....JIJ , o..lfe_,..ll "..i~I
executed a copy of this Agreement -~JA"''•~I
~I ..:,)I..__:,... J , ~ p ...11 ..s ..ll _,lll J
to confirm that Exporter is its
purpose. Distributor represents that exclusive International Distributor
it will promote the sale of Goods to , .:,,L,.....,_;.JI J , .:..W~IJ • ~I J
for all its Goods. The term "
all applicable retail outlets. Gyms. · ~.YJ •_»... ..l~J .bJA .U::bJ
International " means the sale of
Health Clubs. Health and Nutrition TCD Goods outside the USA.
Stores. pharmacies. institutions.
etc .• on terms and conditions that 3. (a) the term of this appointment ~ WJi •fa i.s" ~I 1~ o..lA .1-r
are favorable and fair. shall be for an initial term of three ..>-fY:.. ~.J~ o- I~ -:..1_,i.. ('") ~
(3) years commencing the date this ~ ,) ..b~ ~I l:i.,I ·J~·
(c) If, at any time after a period of ••AJ •P ~J 0-6 ·~· ~J 1:i~ ·---""
twelve months following the ~ 1_,...:. ,,;:.c. ~!•fa .lL! wSJ ...si .,J
agreement is executed by Exporter. u~I ~ 0-6 ~YI All e..l>J
provided Distributor meets the t j;---JI ~J · .lWl I~ u-i ~_,..JI
commencement of the term of this ...,......,. • tj_j.Jl ,) • ..li.JI 1::i. .:J4Y"' ~~
minimum sales quotas set forth ~ L,i!L....:.:.! ·~ ..li.JI I~ ~
Agreement. Distributor is not. in 4 l-o.i I"~ 'i , •AJ "J~· y,.iiJ
herein. the Distributor shall have ~I IL. 0fo. 01 ~ (Y) t.).!Al.c
Exporter's sole judgment, ~..lA ~I ~~~I ~ ~J.Jill ~USJI
the right to renew this Agreement
adequately promoting the sale of the ..J..e .r.) Ji ~J tY ,/i JI~ Ji JL....b.) .. L.....bc.! ~~<.>'~~I}~
Goods in any city or area or to any j4, ~"/I ~l..l ,;_;~4 ~I :lSU..
for an additional period of two (2) ~ ~~ ..le_,..~. J~· .)! i.s#
category or sub-category of retail ~ ~ •AJ •fa..,.......,. J~
years. said renewal option to be I·..
'"t--' ' ~- J ltl I."' !..>!"
J •• ..l..!1 .. ........: . 1.: .)_,.......• (1")
outlets within the Territory, l~J . . exercised by written notice to
1.cj_,.. tj_j.Jl y,i:- c..SY..I ~JI . .:..1 _,i.. (1") ~ i.s" J ..li...11
Exporter may in its sole discretion Exporter not later than three (3)
~ Ji ' mw.11 Ji ~I .ill:.! 4~ J months prior to the expiration of
appoint a person or entity other than
Distributor to be the sole and ~1 :lSU.. ..J..e .r.)l1 JI ~)I t,;ll the initial three (3) year term of
exclusive Distributor for that city or ~"/I~ ..ill::il l....,u ~J' ,;_;~4 this Agreement.
area or for that category or sub- ~.) .b~ t.;.,.-11 c..5~1
category of retail outlets and ~ yUS. I}.~! tj,yJl ·J.i.-.Jr Notwithstanding anyt~h~in~g:_..t~o~th~e;._!.' ~r~,u~·
;:·'~' ~~·~· ~·~~ic--:~~,zaiqy-----11
Distributor's exclusive Territory ~ ~ "-4..)o.! t..-'! (1.) ~ <G..lA ;..;;;;.--~mtrary--hcretrr,-e1ftier pa y shall o..lA J:h ..:ii_, <.SI u-i, u..). <.SY ~
shall be accordingly redu:;c:::;e;::;d•~.;,,i-.~,..ic. , ~ -.)_,..---.....,... have the right at any time during ~ _;l..l:U.J ,.I.be.)~~ ..li...11 1~
p OVI ea, owever that Exporter 04.r-JIJ J,,.WI :lSu .)l..l:U.)'1 I~~ the term of this Agreement, on , ~..._;.'JI r,F.11 .)_,....... • (1") ~ ~ I.>.'-" ·
shall give Distributor sixty (60) days ·~· y,..ii::J liiJ, tJJ.oll Uh:. 1:i) three (3) months prior written ""--:!_;.....ill 1J,_..hl1J ~I I.LA ~4-il
Prior written notice of its intention to ~_,µI ~ •.)_,-i ~ d- • •AJ notice to the party, to terminate this 0_µ ~~ 0-6 1.J~I ~~~_,....JI
appoint a new Distributor hereunder; (1 , ) ~I 0 µ 0_,...;..t. ~ ~~ Agreement and the exclusive rights .• ~ ~ J~I
said notice shall become effective 0J.,i:i.JI granted pursuant hereto, effective
and operative if Distributor fails, in · I..-'!
as at the end of such three (3)
Exporter's sole judgment, to correct month period.
its inadequate promotion of the
Goods within said sixty (60) days.
(b) During the term of this ~ • ..l......WI I.LA 0~.Y"' •fa ~~i . ..,..
4. The Distributor shall be responsible .ll~! ~ 'JY...-,. t~ 0fo.-t
Agreement the Distributor shall wL.ii...o ~ J~ ..b~ tjj.JI
actively solicit business and , ~";I ~ ~::i.-11 ~~I ~ ~.JYJ
 for importing the Goods into the J.-5.! ,.41]1 .!ill ._,.! ~ ~)'I .),1 ~~I
(c) Cooperate with Distributor and Ji _:,.:....:.Ji.SJ .,si J t»-JI t" ..JJt...:..11 .____,.. Territory. including all paperwork. ~I ~J •~_;_,JI JL.,:.'JI
any forwarding agent. freight ~._.£~_;L........ Ji._:,.:....:.~ coordination of customs clearance. 4fo.JI ~l.,Jll ~ t"IJ'l'JIJ, ._.£~1
forwarder or customs broker ..,]) ~t...;.,.,JI .J:!~ ~ ~ tj~I compliance with all government ~.i...:.:ill ~yi ~1,J ..si ..!1Jj ~ ~)
appointed by Distributor in . ~'jl regulations (including any
..S~ t:---4 ..:.,L._i)l.JIJ' (lt-1 j,...._.
connection with the export of the applicable US export regulations)
l'~J, 0------&~1 >..r-L....JIJ ~I
Goods to the Territory. and relations with freight
forwarders and customs brokers. ~ J 4 y.___...,... ~ .!ill ~ t j_,.JI
._.---i ~~ ..si ~ yYI ~) 1:i) J...--JI ~J . ol _,.. .j_JJ o..i.:.. J ~\iij J ~!..-
6. If anv Goods are to be registered in -i all at Distributors sole risk. cost
~~..,-le. .li..ll Iii.~-"'! tJ_,...JI
the Territory. pursuant to local ~. ~~_,.s.,..~1,i~>"':'~'!' and expense. Distributor hereby
government regulations. the ('~J .!L.l~ ·.;~·~) u.,. . n agrees to indemnify and hold L,ii ~I JA ._,.! J .» ·.;~· ~j A.;~ J
Distributor shall so notify ..:..1~1..)--"1-~ ~~ 4.....-1...1.S ..:..L...,,i..... Exporter harmless from and ~ ~ ~ --':!_;L-. Ji ..::.i4Jlh..
Exporter providing complete 1:i.-i ~ ~ ~_,]..h..ll wl.l.U...JIJ against any and all claims and .ll~'JIJ ~~WI .J.J--<YI
information as to procedures and .~I expenses in connection with all .lf.Lw ..si t t,.:il ('.le. ~b ..) J . y,.l...:Ull J
documents required in connection shipping and import-export ~ t+--:;lc va _,_._w1 ..:,~ ~
with such registration. matters. In the event a freight .__:;L..ljjll ~l.li t;;c. JI , ~I wl.lii-..
forwarder does not follow .l.._j.ljc. .J~ j~' ~I ,JS..!J4
Exporter shall provide any ..:..L...,,i..... Ji wl.i:u..... ~i ".;..l..<.A..ll" .)y,J instructions provided for in the ~.) >. ,,;.j ..Y"-""
..r- .• ""-~· . :
.........-~
documents or other information ("..:..1.i.U..........li" l"""I ..ill:i ~ ~J) .,s_p.i shipping documents or does not ~_,,s J_....Ji ._,-J ~I ~I 1.:i..,
(collectively. the "Documents") ·~' I~ J~ > tj~I ~ properly perform. then Exporter 'J~......:JJtjyoli
requested by Distributor to obtain •...>----:!~ ~ ".;~· ~ .J.- ~i > may designate another freight
such registration. except that ~I ~ J ..:..L.. ~I .~ ~ • ..i.:.. J forwarder, but any such designee
Exporter shall have the option to ~_;JI ~t...;.,.,JI.:;.. ( w4-:>WI Ji) shall continue to be the agent of the
withhold this information in its .J.- ~~ ~i ~ ~b ..)J . .iWI 1:i. Distributor and not Exporter.
sole discretion and withdraw the j--A ~I~".;~· !'fa, .iWI 1:i.
product(s) from the Goods under ~! .U.......yJI •_;_;;Lill~ tJ~I 5. Exportcrshall :
this Agreement. Any Goods ~L.s:.JI ~ • .;~· ti.l:!J •t]_,...JI
withdrawn from this Agree~m~e~n=t__:'..i~f'=-:d=~sl!...:~~1..,; , !ao!J.U.11
;;.,.;..,i1u::c~4'
"f'I -~,1 .... .,.JI- --i'iqm~:--- ~a)-Ret<r to Di-S-ffiDuror all inquiries
""~-..,.;w.~-
-------~,~~ epurehascctby-Exporter ~t...;.,.,JI ~ t»-l' >
J . ~! received in connection with the
from the Distributor at the invoice ~~'JI..:,~~ f".JJYIJ sale. marketing/distribution of the
cost to the Distributor and Goods in the Territory.
H~ ~J · ....;W;J "°!~J 4Y.-..
Exporter shall pay all costs in t.»-ll .J...>--=>-: •tJ_,...JI .)! wl.l.U...JI
connection with the redelivery of (b) Provide Distributor with '~I wl.-_,!a.J~ tJ.>..--oll ~.JY ·Y
the withdrawn Goods to Exporter. • ~__,__..JI
. .iWI 1.lt-; J!_>JI JS,!!~ wl.u:.....JI w~
>
Jl..iJ) • .;~· .)! ~J
technical information, a 1 C.: . .l-&..:.l_,.JI u.,.:.S 0-- ~lS ~J
The Distributor shall register the reasonably sufficient quantity of i;;..... .!ill y,t:.J c.: . .~ .,J~I J ..:...~~I .J
Goo d s and comp I y wtith a II ..s'i .l....WI 1:i...__. ~4J! JI ~t.a:u! ~b ~J specification sheets, literature, L.iW...li ~)'I .ll_,.JI JI ..:.~~I
requirements of the Territory at the ~..) L..) t.;_,..J >'
..Jl.S 4i ~ catalogs and other printed
sole risk. expense and cost to •.l..._A ~ ,) Ji ~l...4;ll ~ ~i . ~l.....A,J4
matter/advertising material
Distributor. At the time the ~ ~i tj>-- ..si ~! ~1 pertaining to the Goods.
 Distributor shall pay such invoice ~I r:!.e.. tj\.,. ..,.;_,. o_;yl.ill W....:, Documents are submitted to ·".;..l...44ll" .)~ ~ '.;.i...a..JI"
in full within thirty (30) days , ;, .;,,_..s:.i...ll ;, .JW.11 ,jy.:oi:. ..,i ~I Distributor. it shall execute and
thereafter. If payment · is not . yl i.jj .)#. J ~ 'J ~' y.W deliver to Exporter a
received within said time period, Confidentiality Agreement with
then the order shall be deemed respect to the Documents in the
canceled and of no force or effect. form annexed hereto. In the event
of the expiration or termination of
8. Distributor agrees to purchase the ~YI ~I .,1y.:. .).c. t.;,..ll ..)SI>.! -A this Agreement for any reason
following minimum amount of o.l......A ._:,.. r~ JS J)U. ~~I j.o .)till whatsoever. the Distributor shall
Goods during each year of the term : .)till ~I .).c. .li..11 I» .jyY" either surrender any registrations
hereof as follows : issued for the Goods or transfer
such registrations to any other
1st year. not less than U.S.$ ~..>"1 _;'iy do ~'i - J}JI rWI distributor appointed by Exporter
2nd year, not less than U.S.$ ~..>"l _;'iy do ~'J - u-'~I rWI as determined by Exporter.

3rd year. not less than ...... U.S.$ 7. (a) The price and terms of payment ~l...o.,JI JS.] ~I ..lc._,y.:._, .;L.....l ..jfo i -V
for all Goods purchased by the ~WI .;L.....YI is' t.;,..ll ~~~I
thereafter, each renewal year increase LA).li.. o.lyj ~.i;..; ~JS - ·•1 1i .l.a.!
Distributor shall be at regular ..J-- ~I ~ ui_, ~.;l....JI tj,...U
per year over the previous year. · d-!l....JI !"WI do ~ JS · · · · Distributor prices in effect at the
t.lJ.-J ~J · .!l.;>.!J:!-i ..,i ~I
time the order is placed. EXW,
Ji;.ll '-ii.JI....:.... JS "-:! _,:.......J ws.:; • .b. J
In the event that Distributor does not ~ u-'.lY' Al4 t.;,..ll r'.JJI !"= tjl:. ~" . New York. All expenses incurred
J_S .!LbS_, ~I •4--.)! ._syll
comply with the minimum purchase ..>- ufo .li..11 I» ..,i ~_,.JI .. 1~1 tJ4-o for inland freight to port of loading,
. ~Lii_, U_,t.WI_, ~I '-ii.J~
amounts ·set forth herein, then •l+----i! (1) :.!ill .l.a.! ui_, <.Sl ..,i '.;~·~ shipping, handling. forwarding and
~ "-:J_,L.......liJ ~l...o.,JI ~ Ji:ilj_,
Exporter shall have the right al any ~-'41 tJJ.--oll ~_,i.o.JI ~~I J,,WI insurance are at the sole cost and
time thereafter (i) to terminate the (l" •) ~ <U.l... ~ ..r.~ _;l..b.) .. L.bc.) responsibility of the Distributor.
Lc.l...o.,JI ~ .J_,5 e.;,..ll .))
o_;~I
, .li..11 Ii\ ..,i ~ U.:J_,....w JA ~
exclusive rights granted to Distributor lu ~ tjt.:...11 .» ..,iJ) t.;,..ll .)! L..>.! Title to the Goods and risk of loss
on thirty (30) days prior written notice 1 ( J..i9 <.S~ y,e. U"t...l .)c. .!ill .lA-! .li..11 shall pass to the Distributor upon t-5.lJ ~l...o.,JI ._>.!.......:i -:...~ JS ~J•------t
to Distributor (in which event this .Lk) ~-'41.li..111» .,WI ·~~)_,l th delive of-ttie Goo s as 'i~~ E:J.Pli ..,...; . 0-- tJ4JI
Agr~ement-shaU-thereafter-continue ;:f (YJ 0,1__,._....:. <U.l... ~ ..r.~ .;Lhi.! provided herein. All pricing of the . ~.><YI
on a non-exclusive basis only) and/or . t.... 0'..Y'YI'.':l.S _,l ! tj.J.JI Goods and payments by the
(ii) terminate and cancel this Distributor shall be in US dollars.
Agreement on not less than two (2)
months prior written notice "to {b) (I) The Distributor shall pay for all ~~I J._S 0----U t~ ~ .y
Distributor. Goods purchased under this rY ~ .li.JI I» '-:-"!">41 ii~!
Agreement prior to delivery by • .) ' 0 •JI" ~J • ~ •.;.i...a..J\'
Exporter. At the time Distributor
places an order for Goods,
J....S eJ>-.JI ~ ~ • tJJ.J .)!
.~w.,.11 ~ •.J..,Jli' ~Wa,.11 ~
Exporter shall submit an invoice
J..lil4 •.)_,:;lill .» ~ eJJ.J ~J
for Goods to Distributor and
~ L....>.! ('".) ~ i:;_,..;ot. ..,i
 conditions in Article 7 below and Exhibit >..iWI .,.! l# ...>"'~1 .1.,_r:.]1,
.:..~~U"'~~ -t
B attached. ._;s_,....i1 (...,..) _;,..w1, •• w.!i (")
Sales Representative Agreement
3- Term. : .a..Jl i..1.o _,.
The term of this Agreement shall be for i.i._..,i:; o~l J ~ .l...-.i.JI I~ ·~ Ihis is an Agreement effective as of ........ :r- l).~1 .iWI I~..;~
one ycarts). commencing on . ....... ·->- .................. between Cincinnati Milacron .:;,~ ~~ -'.S~ .J:i
Marketing Company. a corporation .r-.:.
..::..._......[:; -'.S ..r-A J • .Y. _,...:J.l
-l-Reprcscntativc's Obligations. : ~ .:..1.al}'l) -t organized under the laws of Ohio. USA ~L...A,i~')',~l,i~
(""MILACRON'') with its principal office J~J ~y'JI o~I .:..,4y ,II.;
:i-Sales Promotion: : ~ ~..J.>Jl -i located al Birmingham. ...-J IA fa J ".:JJfi~" ~ l+:!J!
'
Representative shall use its best efforts ·~ ..;)--! J-j.....JI J~ England. and ABC company. organized .l_;J.;,...;~.i>~..>!·········
to promote the sale of Products in the , .. lo')'I _i ..:.6-:iWI ... I .._. .,11 under the laws of Arab Republic of Egypt
~. ..r . V""" .;_.JJ- -'.S~ ..s"J' ·...r- ·...r. ·":1.1 .;.s~,
Territory. These efforts include ~.lll > ..l~I .~ ,J...:..:.:;J ( .. REPRESENTATIVE"") whose address is ,s-i '"-:i) . ...11 .J,UI ,&JI ~ ..:.........[:;
advertising and canvassing campaigns ..i~1~,~~)'l~1, ................... Cairo. Egypt. l+:!J.1 _;L.:.,i, ' ~ _rll ..>-""' ;.,.; ~
and diligent efforts lo assist in j~I _,.....j o..i.:.L.....ll ~~.lll ~I}"'- J' .. j.....:....JI" ~ ~ ~
!
obtaining necessary import licenses. .~.YJI Jl_fo...)'1 ~ly > . .)--4A ' • ..>'till •........ ..s-9 I
b- Orders and Inquiries: : .:..1;1 .••.J:;,...-;1J ..:...~ -...,.., 1- Appointment. ·U )) •ill-I
Representative shall transmit or cause ~~ ,i ~ j'.....JI J..,y, Milacron distributes the products of -'.S .r-.:. ..::...~ ..) ,
_;....-£4.. t j,,
to be transmitted to Milacron without ~i pl..:. :;,~ .jJfi':J.+. .)! Cincinnati Milacorn Inc. and its affiliated ..:.t.S~1, .JJ~ ~~
dclav am· order for or inquiry ..:.L_;,..:i.WI j J"' .Jl.....i'....I ,i ~ companies. Milacron hereby appoints ' .jJ~)4.. ~ .li, ' l+1 ~t..11
conccrrung Products from any . ~)'I _,.i ._,.i; JA .J......c. ,_;i j.a Representative and Representative ..ill~ J;till j'.....JI , .!WI Iii, ~ ~
prospective customer in the Territory. accepts such appointment as a non- ~..;~~~~
exclusive representative for the sale of (i) .j.-..:..1.JI _,.i ~,.JI "wt.;...:u.JI"
(c) Assistance and Advice: : 1.;_,.:....Jlj 0$-1......Jl -~ the "Products" listed in Exhibit t\ "~)·1" _,.i ..!lJjJ .!WI 1::.r. _;tyll
Upon request. Representative shall ~I i"..L...i; , -,.......lhJI ..l.......ic. auached. in the Territory defined 111 .oW..li (Y) >;WI ..s-9 ~I
provide assistance and advice to ~~I.)) >J,.:..JIJ >..i.:.L.....JI Article 2 below.
customers, uuhe..Ierritocy.concerning ~~""/1-.:si""Or.l~}411
the maintenance. handling. application I.'t---"' ,, J\..i... , ..::.L ..~~1
. .i....._;t...w,
•

and use of Products. .~1~1,_~, 2- Territory. : ~'fl-Y

The term "Territory" shall mean the .. ib;.11 ~)'I .h_il ~

(d) Reports and Visits: : ..:..1 J....Jll J .>'....Jli:>ll - J following geographical area: : ~J'1¥1.faiJI
Representative shall submit to ..l-.>c. .jJfi':J.+. .)! j'.....JI I"~ Arab Republic of Egypt. . ~_rll .)--4A '"-:iJ~
Milacron. upon request. detailed and ~IS~ Y-JL..i; ..,...lhll Milacron reserves the right to make ~ ~ ~ .jJfi"Y.+- .1..i.;.,,.:jJ
complete written reports on its sales ~,_;.....J ~~L...!.; »-« .... ;is.. direct sales of Products in the Territory Jil j:iJ , ~)'I ._.-i o ~!+- .::...t.;...:u.JI
promotion activities. The reports shall ~j Y.Jli:JI ~J , ..:.~1 and agrees to compensate Representative ,"-JWI .~ _,.i , j'.....JI :..>'>:!,..:i >
also include other relevant market _;;]I wL. _,i.......JI _J.. .!11:i Ji:- .)c. in such event as set forth in the terms and ..i ,_..;..,JI .._,-i ~_,.JI ~_;hl4
 Milacron samples of any labels or ~p ..::..l,j~ ..si .)-< ..::..w.:c information including, but not limited ~ ~lb u-.i ~ tJ.,..J4 ~
advertising material prepared by l.A~~)..il_,.._,i~4 to, customer demand. customer yll.. ~ ~I 'I Jr.Ji ~
Representative and bearing any ~.J~ ..::..l...)k. ~j ~ .J ._r.....JI demand. customer reaction and ..::..U.L.:.; s e+1WI .:.J..l.;.J o:::l-.ll
trademarks or trade names of ~L;.. ~.)~ oL............i Ji acnviues of competitors. t.....,.___..., JU,..11 ~ .J .~t:....11
Milacron or its affiliated companies. ~t.:JI ..::..LS~I _,i .jJfi~ Representative shall as Milacron deems J,_i..... ~ 0.Jfi:4J LS< I fa.
. l+] reasonable receive visits throughout ~ ~ 0.1.)ljll ~ i.:,1
the Territory by employees or ~_,I ~_,.. 0- ~"JI .wl
(t) Confidential Information:
Except with the prior written consent
of Milacron, Representative shall not
: 4.,-JI
.. ~I _,... o!]L__.. · <~ . It..
~U,S

~ • u.J..r--£:4.. W..e ~
~.
..:..L..~I - J representatives of Milacron for the 0_,WJI_, .).J~I ~ j.J~
purpose of consulting and cooperating
with Representative in the promotion.
..::...~~_,Jill J_,,.. ~It:"'
. l+] t....i.;J1 ~ _;..J ~.J
use or disclose to any person, business ~ Ji r~ :.;i ..J,.....J1 > sale and service of Products.
or public body any confidential ~Ji~~ _,i ~..s'i
information concerning the business _,l~~..::..L.._,J.....A....lt:. (e) Industrial Property Rights: : ~u...all ~ Jjb --4
or Products of Milacron or its ..::..LS..r-.!JI _,i .jJ~ ..::...~ Representative shall recognize and 0.J~ tJ~ JU.Jiu~
affiliates· which it acquires in the J_:.....JI ~ ~ 4J ~l.:JI respect the rights of Milacron and its 0.lt. r~.J l+I ~t.:JI wlS~1_,·
course of or as an incident to its <L...:ll_,1 jA .JL...l:.! .....--9 _,i ~i 0 affiliated companies in their lf-J~ ~ L4 Jfa..ll
activities under this Agreement and ' ..l.....kll l.i__.i. ~ _,..., ~U.L..:.;J trademarks. tradenames, copyrights and ~.;t;..:;11 ~L............I_, 4-....:i.;t;..:;JI
shall take precautions to prevent any ~~'JI ..>-1!1.i.>ll ~I ~.J Representative shall not use any other J,...:i...11 ~.J • ~I J.,bJ
such use or disclosure by any of its •:+--l r1~1 LSI F. ~1 trademarks in conjunction with the "--:U~ ..::...~~I rl~l ·l.J:-
employees. This obligation shall ~ l+.ic- u.!..S.11 ) ..::.it.._,k...11 Products without the prior written 0.J.l..-! ..::...~ ~ LS~I
continue for a period of five (5) years ~.J . ~_,.. 0-- LSi . . ,.,._;~ consent of Milacron. Representative 0----- ~ 4.U.S LUI_,..
after the termination or expiration of (o) ~ •y&J Wli rl_;J)'I 1.:i. shall communicate to Milacron all J ~ .. H ~.J ·0.J~
this Agreement. l.i....___.i. ol+=U! _,I 04-i) ..lA.! ..::..1_,;... inventions or improvements made by ..::..L.c.lfo'JI ~ u.J~
. .ii.JI Representative relating to the Products J_.:......JI ~.?.-:!~I ..::..~IJ
and Representative shall grant to J.__WI rfo..J. ~I~
(g) Government Regulations. : 4--~ ~1_,lll - j Milacron and its affiliated co'.!!m.!1'D!.!!an.u.1li·e:>1.s_.;;..:.;;.;lS-.,,;:~....:-~!..W.:u.~-~
RepresentatiYe sbalLnot-d&any.act-er ~.1Ji~~~ a non-exclusive royalty-free license to ~..>-' .);!i:. \..4ji l+.I ~till
thing, or cooperate in the doing of any J._.j LSI ol..il u-.i i.:,_,WJI _,I ~ all rights including the right to ~ tJfaJI ~ c_..i ..:..l_,IJ) 0fa.
act or thing, which will cause in any u-.i ~->1 ~~ ~ L... u--: _,i sublicense Milacron's customers 0--a ~Ji .U.C.) ~ ~ u-.i
manner a violation of the United ~yYI~l_,11 ~) w_,.a under such inventions. Representative ~ 0.Jfi':4. .:::l..c. i)) 01-411
States export control regulations or of _,I , ..::..I yL...JI ~ "'--!li.)I shall assist Milacron and its affiliated J.-,:......11 >.J. ~lfo'JI • .lt.
the export or import control ~ ~u )4 ~WI ~I _,111 companies' when requested, in ~ ~ 0Jfi':4. .:..:.~ c)
regulations of any other country as L...lJ..l LSY ..ily,J...'JI _,i .J:!.l...c.lll obtaining and maintaining patents and Ji.l.....W.'JI_, ~ J,.._.JI u-.i
then in force or amended. LS~ _,I ~.;L....... 0fo LS~I trademarks in Milacron and its 4-....:i.;t;..:;JI ..:.L....:lW1_, ..::...1.1.;:Jli
-1+!:!..i..:i affiliated companies' name which are ~ ..:.l.S~I_, 0.Jfi':4. ~
used in conjunction with the Products. · ..::...~ 0Ji.--....i:; ~IJ l+J
Representative shall supply to u.J..>--£4. ~ JU,..11 c>a.J"-'..J
 obligations imposed by this ,i..A, ~ ~_);! _;a1 ..::..L.._;JJ'I
Agreement. . .li...11 (h) Suh- representatives. : ~l,JI.:,,... ~I -c:
Representative shall not appoint any ..;i~~l_)c.~
(I) Re-exportation. : ..>:!J..AiJI oJ\&.) -J sub-representatives or agents for the ~ <'.:AS J ,; j.l.4]1 .» ~
In the event Representative has .)L.c. .) ,J'.......JI ~ ~.1 w Li) sale or Products without Milacron "s 4,WS ~1,.. ..;,~ ...:.,~1
knowledge that prospective customers oJ~I jJ~ ..::..~ ~JA prior written consent. . ...;Jfi)4.. .» ~
lor Products intend to re-export the ~, . ..; y.1 4J ,~ ~-1 lA Y..:.....Qj (I) Representations: : ul)))'I -..b
same to another country. such sales .J--.&. ..::..~1 .iA ~ f.>;.) Representative shall not make any ..;i oL.l:.c..1 .j-L j'.......JI ~
shall be promoted by Representative ~I_,..., ~ .Y.->6
• .:.:... J ,J'.......JI representations as to Products other L_.,.; ..::..~ ~4 ...::..1) ..).1
only with the full prior knowledge and . ..;,fi)4.. .» :.U,....... U.LS ~ws than that contained in the written ...-J o.l),_JI ..::..1)..r-J'/11.:-....L
written consent of Milacron. Product information and data provided ~;&JI ..::.,L_;4:JI J ..:..L.. ,i......JI
by Milacron. Representative shall be .j..-A ;___..li.JI ~~ ~WI
5. Milacrons Obligations. : u.J~ uL..l~ -o totally responsible for any or its J',,,..... j'.......JI .jfoJ ' .JJfi~
Mirlacron agrees as follows: : ~ L.. ~ u.JJS ~ J!I-'" representations as to Products which ~ )..r-J.1 ..;i ~ L.W
are not authorized by Milacron and ..)~ l' ..::..L.+i.WI ,yo~
(a) Sales Opportunities. : u~I u-:i.) -i shall hold Milacron harmless from any ~ J' J ' .JJfi)4.. j.o I~
To identify for Representative ~yJI o'.ll.u.!4 j'.......JI ~~ claims and expenses. including ~4 .JJfi~ > t,,,,. )1 ..j
prospective customers known to it in . tfo'/1 _) l,i..l ~ ,y...JI reasonable attorneys fees resulting .!lb_)~ ~.)l-.. ,i ..::..4]U.....
the Territory. from such unauthorized ~ ~~1 •L..G.......11 ~wi
representations. ~ ..::..1) .r-J'/1 .~ ~.:.a:.!
(b) Promotional Assistance. : ~Jji.ll ~ o~~l -..,.. .• .i...::...JI
Tl) supply
Representative at .i;w1 _yo-.J1 ~ ~I ;l.lA)
Milacrons then prevailing rate with ..::..1~4 ..JJfi~ ...s.i.l .:i.:.~ (f) Translation. : 4~1 =»
literature. samples and such other ..J---- ..!Lb~ J ..:..LJ:....}l J Representative shall translate into ~1 WI ~! J.,...Jl ~fa.
information or materials as it ~ _;ai .ii ,.JI Ji ..:..L..,Ia..JI local language ..::..J1..,"-' ~L.J~------t--i
:::::;;~·=-- 'F:='--:1
a:ll:__:co:::n.:.:1:.::m~e~rc:.:;ia::,:I_'::;:•:::'
believes will assist Representative~in:_~b::1:::·~. . ..s1~· J....J~~'
;-~ ~..ic.~~ 7-
~i.,...;~·i~---"'""'lTJt°---cemmumeation o tlle customer or ~1 Ji ....4-Jl .)! .JJfi~
---------!:pr'-"o"'m~o
...1...
in~g.Jhe..sale-andaeeeptance o 1 J~J ~1 prospective customer from Milacron. .l:.J~IJ .._;.QJ.->--11 J... yi:iyJl
Products in the Territory. .~)'I such as proposals, conditions. etc. ...,..--l! ,J'.......JI ~fa. WI. ~J
Representative shall translate into J__S ..JJfi~ ~~'/I WI
(c) Order and Invoices. : ~1.,&JIJ ~l -~ English for Milacron all commercial ~l 4.1....yJI ~)~I ..::.."''.::l..,JI
To transmit or cause to be ._.-l! J~ _;'J ~_;JI Ji J~ _;) communications to Milacron from the . ,J......ll JI ....4-JI .» jJfi)4..
transmitted to Representative copies .l_,_..w1 .j..-A .)>--""° J.--:.-)1 customer or Representative.
of proposed and executed contracts o~I t'° o_;~IJ ~yi.JI
with customers for Products in the , ~"/I _,j ..:..L,..:.l.Jl Vo~ (k) Expenses. : uU.J~ -~
Territory and copies of invoices J.-,:.:; _;a1 _»ii _,ill j.o I_; y.-o .J Representative shall bear and pay ~I _,.II ~ .l~.J .;...JI ~
covering deliveries pursuant to such ·~ L....:i.t .J w......JI ..:..u.....!.ll when due all expenses incurred by it ..,...:JI ..;:,t_j J~I JS o~I
contracts. . J_,i..JI or its employees in the performance of ,,l}i ~_,..Ji_,_.,.~
 trade with the Territory, including, ~~~)'It"° o) ..,..:Jl;
,._ill,j
but not by way of limitation, the '~I 'i Jr...!\ ~.,..le.
United States Export Control Act of u--1c. ~u.)l ~yYI ..Jyl.:ill (d) Expenses. : .::.liJ_,.-l\ - J
1949 as amended or any regulation • \ ~ f ~ ~i .I wl _;JL.......:JI To bear and pay when due all .L.,ic-1 _,.JI c.s-i JI ..i............ .J J.w
issued pursuant thereto. ~ ~'i 4-:l JI ~..i..uJ expenses incurred by it or its ~I ..:..\.i _,~I JS o.u:......11
. .u l.iiJ employees in the performance of its LA _,ili _,... _,i u.J.fi)4.. ~
obligations under this Agreement. 1.ll. ~JA! ~L.l_>J) ~IJi ~u;l
7. Commissions : . .li...ll
a- As compensation for services
rendered pursuant to this Agreement 6. Acceptance of Orders. :~~-'\
for sales of Products directly due to a- Any quotation submitted by Milacron r.i.....i. _;ta...! t..>a_;c. t.Sl ..:ifa'i -i
Representative's efforts, Milacron shall be valid only for the customer 'i) I >)> 0 U.J~ 0-
shall pay to Representative a sales to whom it is directed and the prices, •t...f.ayJI 1.ll. ~) ~_,.JI J.!......11
commission based on gross invoice terms and conditions of the ~.J
.. I 1. L~
~.J
I ~~
. 1. •.~ • "l.J
price. loaded on carrier at factory quotation shall not be altered, varied 'i) t..>a~I 1.ll. .l._,~.J _;la...i
(F.O.T or F.O.B), excluding or changed except by Milacron in - l:!!t.S u.J.fi)4.. ~->6 o=
packing, as set forth in Exhibit 8 writing.
attached.
(b) Milacron may in its sole discretion L..J L__ii.J u.J..fi)4.J JYH -..,...
either accept or reject any request for .JI J_,.._.,.i L....A..i.....J 4-1 t.S~lfa.
quotation or any order for Products ) .._.I u:.ayJ yl.l. t.Sl u-Oi_;
from any prospective customer in the t.Si ~ ..:..~ ~ 4-:l _,I
Territory. Milacron shall have no . r--:lJ)'I ~ ~.JA J.!,.c.
b- Commissions for direct sales into the ..:..~1 ~ ..:..'i _,_...JI -...,., obligation to supply Products until l.Sl u.J~ ~ ufa'i.J
Territory made by Milacron are set <..5--:1->6 o= ~)'I u-3.1 •Y:,4-JI and unless an order has been ~ ..:..~1 .ll..Jjll~r~l_>J::·,,·_1 _
forth in Exhibit 8 attached. ~I _,j ~,. uJ.fi)4.. accepted b ·1a "ti~ d . ~ u . .J

~------~------------------------~ly
(c) The parties recognize that to obtain
a given contract, it may be desirable
to reduce the commission rate as
may be mutually agreeable. It is
agreed that any such reduction in the
commission rate shall be applicable
only to the specific contract in
question.
J.i+_.. _,j ~1 ul_>bYI .!J_;.lj -~
Nfilacron shall not incur any liability
to Representative by reason of
Milacron's refusal to quote or accept
~ 'i s . 4!t.S u.J~
c.s-i ~ ;...-... ~I u.J~
t...}4-.i_; ~~I ~I_,.
..l-....i , cJ:-.A .lie. .,..le. J~I any order. ~i J~ .JI ~ u.J~
J.___fo; ~ Y.Ji:.->--11 o- ufa ·~
~ t...,._...- U _,...JI ~
ul ~ e,;AWI 0--.J ·1.Jl.i_;.hl1 (c) Milacron shall not be obligated to ~~ I i"'Wt..•. W.J~
. .<•11.. i"'../6'
·.t: 'j
-~
~ J:.i]I 1.ll. U.: ~ t.Si make any shipment of Products if • .:i...___. Uil.S 1.:i1 ..:..~ ~
.l.-...WI .,..le. 'i) t.S~'i 4..1_,....JI such shipment would, at the time ul~u.-·~·~
.~I ~ thereof, constitute a violation of any u- ~ (.. )" I.SI+---=") Ju.
provision of its country's law, ~ _,I ~I_,! _,I 0_,;ll r~l
regulations, or policy relating to ~ L.,ii ~ ~ .U.Jolll
 9. Limitation of Liability. :4~1~- .. (D) All commissions payable under this ~IJ w'i_,__JI JS~ -.i
Representative agrees that under no 0_,_.s.:; Yi u--1:- J.,..:i.....JI ~I~ Article 7 (and under the After-Sales (V) o.iWI '"="""'~~I
• .:i__.
circumstances shall Milacron or its ~ ~t.ll ..:..\£y!JI JI 0J§:j+. Service Addendum, if applicable) ~ L.. ~ ~ '"="""'>"'IJ)
affiliates be liable for any wJ..r-hll 0-o w.):. LS I ..:W shall be payable following the month ..,...___ic. ( .._;4->"" j,11..:., ~ "~I
consequential, indirect or incidental J.fa ) o Jl....A ~i o= j,j_,;,...... in which total payment from the 0J~ ._,.; ~.sill _,...:JI
loss or damage howsoever caused or ~4-- ~ 01£ ""I_,... c.ri.,w..1 customer is received by Milacron • J..-:i-ll iJ---- t]4-JI .)4)
arising (including contract, JI 6.l:>.,! tY LSI cjA ~jc.. _,i and shall be paid or credited to ~~JI Ja,...JI .)! ti.liJ
negligence, strict liability or ~;..._.........11 ..!L..1~ ~ ~' ~ Representative in the currency used . J..-+..All Lt.! ti.l:! ~I u...J4
otherwise). ~~I ~_,;.....JI _,I ~..iil...:JI by the customer for such payment. .j---o wLt:..,,S.WI J_S ~ J
.~ _,I , ".ilh...ll ~_,;.....JI Ji All payments by Milacron to _,i ~ J.,...JI .)) U.J.fi.::4..
Representative shall be made by .)) ti.l!I ~I J ~ .,-... j,11 ~
1 O.Products list and alteration to J.!.l......lUJ .::.~ L.-.1.9 - ' • check or bank transfer payable to JI~ .si J.,.J:! YJ. Ja,...JI
products :u~ Representative. No check or bank __,_.i.JI J:!C. .)) ~ ~ j,11,,..
Milacron may from time to time amend ,) ~'J ..::.JJ 04 UJ~ j~ transfer shall be sent to other than Ja,...J1 r~ rlt... ~ ~)I
the list of product specified in the exhibit ~ o..l..l.......:.1 w~I WU J.lA,j Representative's principal place of '~~l.l.l:>...4!~41J..
attached by addition or deletion and may • uh.II Jj ~L....;.,,)'4 ~~I ~I business unless Representative J~)J..J:! j,JWI o.l4 ~ J
alter the specifications or design of any JI w\.i...........,I >"" J.!.l.....Aj ~ j~ t....s makes a specific written request to ...-J) UJ~ ti.l!I I~ c)A

Product or parts. Representative shall not ~_, . wlifi.. JI ~ ~I ~ the contrary, in which case a record ·~~)1_;....11
change or alter Products in any manner ~~w~l~Jl~0I~ of such payment will be sent by
without Milacron's prior written consent. 04 ~ ~~ ~1 _,.. 0J~ ~.). Milacron to Representative's
·0.J~ principal place of business.

11. Service Obligation. : .l\.oJi..11 u~ rlJ:i.!'i}-1 , 8. Ethical Conduct. : ~'ii ~_,i,...n -11
If the parties agree that Representative is to u-1~ 0i u--1:- uLi._>b.11 J.Li! I~) Representative is not entitled to any yL...UI JI j,j_,..c ~I Jj....JI ~'J
perform service on the Products, they shall , ..:..\_;,..:il.JI uk ~I .. 1.il Jj....JI commission, fee or discount if facts 0J~ r1c. .)! ..::.....; i:i) ~ Ji
sign an "After-Sales Service Addendum" an.... d_:,~-~!
~t...:_..._..~-
::~~· ~~~-~·:..· ~·~1.9~~1.d.. ~---lrr----~ar:!..:e~~~~::,:·Iacron.whie&su~~\'_:.l>~.,...,.,.--t-'-.i. ,;..J-·---11
attach it to this
c. AgreemeJlUlong_.i\cith-an- .e I~ .Uli!J:!J' ~I
t"' .J.U.JI I ' a that Representative is y,......t. ~;. '·" .sl \,;"~~~
........i.i.... aU Ji c.J.l!
I
exhlOlt setting forth the Schedule of Service prepared to make or has made any ~ L-...:i ."."'L J:!C. Ji ¥ J~
Fees. · .4.....i.:....11 i'_,..J JJ.i;. ~Y. ,-- '-
unlawful or improper payment in _,1 U_,....]1 ~ ~I U.t......14
connection with the transaction on r..sLl ~I Ji,~ ...,..w'i1
12. Hold Harmless. : '-:!J~ LJ.o .-.lk-)'1 - I Y which a commission or fee is to be r..sl ~ Ja,...JI 01 JI , "-! ~
Representative agrees to hold harmless 0.J~ .. Lie) uk Ja,...JI ~I~ paid or discount allowed, or that •J~ ..._.!.,ii~~ LS~ 0_,;li
and indemnify Milacron against any loss, 1~_, •U--c Ll.:u ~_,;,...... ~I cjA Representative is in violation of any . .i.Wl I.lo. '"="""' >"'! ~
damage or expense, including reasonable JI J~ _,I • JL.,.,,;;., ~I , ~ law applicable to Representative in its
attorney's fees, suffered by and any ...,..L.:il ~i ~~ ~ ~ ..:..u_,___.,.
role as Representative hereunder.
claims, suits or proceedings brought .J.,..:i.....J1 lA~ .l5 •L..6...Jl j,lfa...
against Milacron which arise out of or in JI c.:.L..,Jlh.. ~I ~ly ~ ~ J
 obligations accrued or existing at the .:;_,_.s.::. ..:.L....yll Ji c.:;_,.._.u. connection with the performance or .i...:.. e;t.Y ~L...:..i -:...1"1..P.'! .Ji yl....:..i
time of such termination or arising IL...\ ..:......_jJ ~u Ji~ failure of performance by Representative "IJI r:;....&. w~ J.i 0fo.J 0J~
out of such termination. IL...\ ~ ~ JI "l+i)'I of any of its covenants, obligations or .j- c;I , "IJi o= -..ih:i Ji , Ji,....JI
·"l+i)'I responsibilities contained in this <>Yl~ Ji ~L.lyll Ji <ii~
Agreement. ~ L..,i.! JI, .li...ll I~._,.! oJ_;l,JI
d) Milacron shall pay to Representative ~I u---1) 0Jfi::4. ~ - J . .ill~
the compensation required by Article oJL...ll ~ l.S~I u-'=>:!_,.:.11
7 above on any order received prior ~~~I ~·~I (Y) 13. Termination - Obligations Upon ~ ..:.L..lj:il'il- .lkJI ~4-i! - \ T'
to and accepted within six (6) .. L......:..i;) J,,i l+l.>ii.J ~! Termination. : .lkJI ~ 4-i!
months after any such termination. .. ~) .sl .la-!.)~(");.:,.... a) If either party hereto shall become ~fall o- .s I .;L.....c.! ~6. ..,.! -i
.:;~~.JI J:;ill 1» .J.o insolvent, or is in default of any c>y...JI .sl "IJI ~ -..ih:i Ji
.• jii.11 .!lt obligation under this Agreement, ~ t1.J) .li...ll t» ~ ~
(which default is not corrected ~ .. LlYI U-..C. LI-....h:ill I~
e) Representative shall return to ~I u.J.P+e u-1! i,J.....11 ~ - __. within thirty (30) days from written ~ L.Y. (r·) ~ .:;_,..;:.;:..
Milacron any unused promotional y\.c:.J JI_,_.. .JI ..:.L...._,1..... notice of such default), the other ~L;.$ .J~! JL.. .J! (::!.;l:i
information or material supplied by J._:....JI u-1) u.J.P+e ~ party may, at its option, immediately ..>-"'YI u~ j.J=H .~
Milacron to Representative. . l+-1~1 ~ t1.J terminate this Agreement. In the ~~ul•.;~!~
event that controlling ownership of fa. ~6. ~.J . .li...ll I» JWI
14. Force Majeure. : o.Jo'li.ll oj&ll - It ~
Representative is changed during the ~ LlWI .._p.w1
Neither party shall be liable for any loss ~i ~'I;...... u_>b L.Si 0fa 'J ,j.J_r-£::4...l ~ .li...ll I~ o.i..
term of this Agreement, Milacron
or damage of any nature incurred as a ~ t,__; LSI 0- .;fa JI •.;L..,.;;.. ~.i.. i,J.....11 u-1! ~t.5: .J~l-!
shall have the right upon thirty (30)
result of any failures or delays in ~ ~b JI ~ ..sY ~ 0~ . .li...ll I» "l+i) L.Y. ('"·)
days written notice to Representative
performance due to any cause or ~.J~ u_,_);. _,i ~ .sY .. 1h1 to terminate this Agreement.
circumstances beyond its control. This u-1c ~ ~J • <>~ c.:;Lhi
includes, but not by way of limitation, .JI <...i....W .sl ~I 'I ~1 ~ b) If the term in Article 3 is :fo~:r~m~o~r,:e_!(;_'")!.::"J;L.J;=;l~~!·~·:;:...i:::1~<.-IJ=-
any failures or delays in performance wl...ilfal ~y ~ .. IJYI cs9 ~bl----l~----..J1Aau..'."""'~•~ear-either,-p a !J-A tS j4,. • c>Lc:. ~ ~Y
: ·1.S~1:i;,..1 - -.. :~=----,
caused by any strikes lockouts a ~Jl-ll-~~'~'J terminate the Agreement for any .sY ~11» "l+i! ~fall
------ctispues, Ires, acts of God and of the _,i ~ ulc:.ly .Ji~ .J...JY.:. reason (with or without cause) after 0fa-! .JI .J~ "'_,...) ~
public enemy, riots, incendiaries, .JI ..).l.--iJIJ .. ~1 wt.al Ji c.:;;1~ the first year by giving the other .tl..._ll.J J.JYI !'WI .la-! (.J-»"
interference by civil or military _,I • c>L-...:. .J.l' ~4- 0- ..:.li~ party at least one hundred twenty I.;~) .,Ji.YI ufall "U.C.!-!
authorities, compliance with the laws, _,I ~~~JI ...,...Ll wl.ai (120) days prior written notice. The .O.......:.L. ~ ~ yt.5:
orders or policies of any governmental .JI ~I ..:.\.hL..JI 0---- ~ notice shall be given any time after . L......J:! (' Y •) u.J~J
authority, delays in transit or delivery on .JI ~I~ c>'.;.......J'il _,I • "-:!.fi-.l1 the first year. ..:.......i_, .sl cs9 .;~)'I J.,...>.!_,
the part of transportation companies or ·~fa..~ ~i ...:..L...4--} yl_,i .J}JI c>WI .la-!
communication facilities or failures of ~~I _,I Jl...;)'1 ~ ~t.11 .Ji
sources of raw materials. In such event, c.:;....Jly .JI J,....lill ...:..1.S~ ._,.,;4 c) In no event shall any termination of .sl cs9 .li...ll 1» .. l+i) y~'i --;o.
Milacron may at its option, make .J.l~ .J..t..:.; ......Uji .Ji u'IL-."11 this Agreement affect any rights or "-:ii ~ Jl~YI c.)o J.h
 deliveries ratably with reference to itself j~ "JWI 01'. _) s . !"WI .)I _,.JI
17. Arbitration. : ~-IV and all its customers. ~1~.I L-...J~I ..,......,,. ..;_,.fi:l4..J
The parties shall use good faith efforts to ~ ~ W.)~ 0li.).ll J-4.! J_s ~-'~ ...,......w:.i4 µ1
settle any disputes arising under this ~ ..:.~l.Y ~I ~_,...:;.I ..y.ill ~ ·~
Agreement. In the event any such dispute ~"-lb.~-' . .>WI I~ U""'~
cannot be settled, it shall be submitted to • J...-:i-!ill l.'.i......A U- t I .Y i.;1 "-:!_,.....:i 15. Relationship of Parties I Authority of ~~ / u1_,_.j.'i1 ~ -,o
arbitration in accordance with the Rules L..:iiJ ~I~ t1JJI 1:i... r..>o~ Representative : =~c,.;......n
of Conciliation and Arbitration of the L..-WI ,. 1<,;11_, ~_,;JI .)C.l_,il a) The authority of Representative shall ~_,Ji-ll ~:::L.- J..,..11 ..;.. ,.y -I
International Chamber of Commerce. • ,) u--lc. ~_,.l}I ~j.~I .Uy.14 be to promote the sale and acceptance ~·-..< l+-Jr.-J .,i uL...o.:iWI. ... I
C""'
The arbitration shall take place in ~'i Y. ~' iJ ·i1 • ~ ~I .ii.,/ of Products in the Territory and to L"1S UJ~ _;U.U.)_, ·~"/I
Cincinnati, Ohio, U.S.A, and the • ~..>'"YI •~I ..::..4'J,,n.i ~u._,I notify Milacron, whenever a customer _;L.....I u:...y:. ~ ::l....11 .i,,.i y11.
substantive law of Ohio shall govern. A ~'J_,J ~_,..;..,.JI 0_,;l.ill 0foJ desires a quotation for Products. . . .:. .~
majority vote of the Arbitration Tribunal . ~I ~1_, 0_,;l.ill _,. y,U.JI
shall be decisive, and the award shall ~I ~ ~YI W:i~ 0fo..J b) Representative is and shall remain an 'U~ ~Y. Jj......]1 u~ -...,..
state the reasons for the decision and the ...,..4--1 ~I ) .) C...:..~J • LA...6. independent contractor and in no ...slu-i~'J_,,~
extent to which each of the parties shall ~ i.;.lll ~IJ •).;ill 1:i,,. circumstances shall be deemed an ~ti lib_,.. u _,_foll ..:,... u .)>
bear the arbitration costs. The parties . ~I~ .,.-i u.). JS employee of Milacron. ~I .l-......A.;! 'J s » ..;_,_,s~
agree that such arbitration is the l.l......A ..;fa. 01 ~ 0li.)JI ~l~J Representative is not authorized to J_,_..,.i J- F-' J_,,,i! 1.....:..,;..
exclusive means of resolving disputes, ~~,,JI ._,.._,i.,.y1 _,.~I and shall not accept any order on ..;_,~<fa~~~ ~i
and neither shall commence any action in ~ u~ JS FJ • ..::..~lyll behalf of Milacron. It is expressly 0--o ~~I J~ J- F-'
any court oflaw with regard to any such ~~I ~ lS~.) ~I e}.; agreed that this Agreement does not ~ ~1.JA_, . .J:.!ill 111.
dispute. .J:,iill 1:i... LJ.o t1.Y -..I U""'~ constitute a Partnership Agreement. ~ 'J .>WI I~ ui ~I..>'-"'
.~,~~
18. Authentic Text. : ~"'' ~ -IA
The authentic text of this Agreement is in ...,...¢..11 J4 .>WI 141 ~YI ~I c) Representative is not authorized to , L...;.._,L. J_:....J1 .L...i 'i ~
the English language and shall be ~1 1:i... 0fo.J • "-:!_>.4.i)'I ~'-! and shall not d or sswne-Ji-i1::1 , . · s ~I..>'-"' ·
rorurolliq ~~~~aq~u~e~~~~~n~o~f~~~_,~~~·~~~~d~W~l~~~--~~----~an~yHo~b~li~g;~~io~n~o~f~an~y~~~~~~~~ ~l~~P~t~'il
------~ .......,...retatio onstrUctio11 s o · .J · J ~ ~ "Jl..... or implied, on behalf of Milacron . , 0_,~ ~ ~ t _,;
·
anse, Th e Eng 1·is h Ianguage wt·11 a I so i.r··11 WI ..,....
. ~ ~-~' :. -<~_,
··•·1-. '·\11 ~'·"I ...,,.... . ~ rl:ill ~ ~-'
provide the text of all day to day ~ ~-"'11 ~4-=JI ..:.~~I~ fI'
commercial communication between •• .;_,y.;..11 ~ J • J..,..JI s 0J~ 16. Assignability. : JP~!_,,
This Agreement shall not be assigned by -sl ~ .>WI lj,,, J- JjLrJI ~ 'J
Milacron and Representative and, if and ~I ~! ~I WI J..,..JI ~fa.
either party without the prior written lJ-.A ~ ~i:.s 4.iil _,.. 0~ u.).
when necessary, Representative will . "-:!_#)'I
consent of the other party, except that it jJ--'H "'--li ~ , ~YI u.).JI
translate local language into English.
may be assigned without such consent to U- ~) 4.iil_,.JI .:i,,. ,:;~ Jjlr.!1
19. Notices. : .:.i1.)lai¥1 - \ ~ an affiliate or successor of Milacron or to a -sl ~! _,I , uJ~ ~ _,i tfe
Any notice required or authorized to be l.....Aj'J 0fa. • ..JU:.;.) lSl Jt,....J) ~ person, firm, or corporation acquiring all J-S~lSfa...-JI~~
given hereunder, except for routine and .l-WI Ii-A ~>41 ~ 6.->-'" Jl or substantially all of the business and ·0J~ J.,....I_, JL.c.i F _,i
assets of Milacron.
 21. Entire agreement - modifications - - a:! -;&JI - J,b.llJ ~ -Y \
Waivers ; Jfoo..ll
U&- Jjl..i:'Jl typical shipment documentation. shall be ~1...::...1~~L. .. l.lJ:i...4
This Agreement. including the attached u ,__.:.s.JI .!ill ~ ~ .li....11 1:i.. JS.,:y served by certified letter, return receipt J.;..._...... y~ I ~I_, ~_,.)I

exhibits. constitutes the entire agreement ~ UJ.i_;lJI L»! cjll:i)'I JS ~>-11 requested or by telex addressed to 1 J~_,JI F, ~ o..r"4JA ~
between the parties with respect to the ~J ~ ~J. ~_,..A~~ Milacron or Representative (as the case _,i .JJ~ _)_I ~_,.JI ~4 _,i
subject matter hereof and supersedes and ~ ~ _;hll L»! ~\...JI u4ill:i)'I JS may be) at the applicable address set ,)_,;..JI ..,Jc ( J1_,,..y1 ~) .J,.....JI
terminates all prior agreements between ~ _>.!!ij l5 I J . t _,..A_,.JI ~ ~ froth in the first paragraph of this ~ J YI s fall u-! ~_,.JI ..s ) .•.JI
the parties relating to the same subject J_,__.i.i 0--C JjL....l:i _,I .)) A.it..;.,) _,I Agreement. . .i.i..ll I.lo. ..).<
matter. Any Change, addition to, or waiver L.. jL. w_,__s.,, 'i .L-i...11 I J.A. J,.J~ J
Any notice so given by Jetter shall be ~~.)JI·~ J,..y, .).b.J ..si_,
of the terms and conditions of this 0-- I+!~ I~ 01.S 1::i) 'i) 0J.iy.il
deemed to have been served seven (7) 0--o 1'4i (V} ~ ~ ~ f.i .li
Agreement shall be binding upon the .UJ.iy.il ~I ~I
parties only if approved in writing by days after the same shall have been I'~ Jt...,u...l ~ ~~4 .UL...J! (3.Jw
authorized representatives of the parties. posted, not including the day of posting, ~Y- .).h;..! I.SI_,, .3:!~4 Jt..j)'I
The failure of either party to require the u.;hll u)o l51 ~ and any notice given by telex shall be JL_...J'/11'~ ~ .li ~ ~4
r-J&. ~ 'i.,,
performance of any term or condition of J _,.,.._..l! U-- .1.Y:, _,i .ll! l5 I J.:il''! _y.'JI deemed to have been served on the day .li y~I I.lo. ,) ..,Jc J:Li)I .Jfo.J
this Agreement or the waiver by either u_p l51 Jjl..lJ _,I Ji.JI 1:i.. J.._,~_, of sending the message. Proof that such ~JJ ~ _,,....;.).:. ~ji i'
party of any breach of this Agreement shall .u,.}I IJ.. ~, Ji.JI 1-4] cj_j. l51 d- letter was properly addressed and put into ul .).:. uAL'.JI ~\..,.. u-lJ , ~~I .)
not prevent a later enforcement of such ':J jL.:;, .!ill ).fie. I _,I Lb.'i J..y!JI JI the post. and in the case of telex that the ~I ~ .J .).I ul..) .li ~L.. )1
term or condition or be deemed a waiver of message was sent to the correct telex ~ ._.--Jc. li...lJ ~J , ~I
any later breach. number, shall be conclusive evidence of . ylb.JI
service.
If any provision or paragraph of this l.L..A Lr-- •fa _,i ~ ._sl y,:;c.1 i::i)
Agreement shall be deemed legally ~, L.iyli I ,!, a y,i:- .i.i..ll Notices required by this Agreement shall l.i...A ~~I ul}.lu'/I ~;..,,
invalid. the other provisrons and ~JL.... ..s~YI ul_j.ill_, l'\..S..,.YI be addressed to any other address as may ~ ~ _y.i J,lc I.Si.)! Ji.JI
paragraphs shall remain in force and effect. .o.:Ul.i_, be specified by either party by written ~.I ....L..y, ~\:;$ Jll..;..)./ u_),. ..sl
notice to the other. ._j.YI u.)JI
In witness whereof, the parties have li.....t. i:;LJ.)JI J->--"" l'..li:i W w~)
executed this agreement. . .i.WI 20. Licenses - Joint Ventures. ~:J:Jdi:idr='j~~~
- •
:.U~I
-----------tiaierlttpns-entat1ve This Agreement does not include or I.Si~ _,I ~I 1:i.. ~'i
Signature. t---:i _,:JI
prohibit any cooperation agreement, J::..-...... .)c .ill.l u-! ~ 0J~ Jl.a:;_I
Name including but not limited to license ~ji....JI J _,..._:ic ~I 'J JU.JI
('--"''/I
Title Li,J:.>-31
agreements and joint ventures, between 0--:!-! .!!_;...:... jl....i ..>! ..::.le _,_µ1 _,
Milacron and other parties in the Territory, ~"JI u-! ._s.;=.i ul_),.I_,
UJ~
Cincinnati Milacron Marketing Co. d',._,...:ill UJ~ ~ .4.5~ and purchases and/or shipments in ~I _,l u~I_, ..::.4~1 ~.,,
connection with such agreements . . J_,_i..11.~~~~
Signature .. . .. .. .. .. .. .. . t---:i _,:JI Representative shall not be entitled to any
Name ............... . ('--"''/I
_,I ~_,..:;I.SI ~I ~'i_,
compensation or commission hereunder in ~ ~ .li....11 1:i.. y:i..~ ~.,,....,,
Title ................ ~>-31 connection with such agreements.
.J_,kll ·~
 under the terms, conditions and ..6_,~1_, ..i~ .bii ill_, jS.J_, .lp..J ~ ~ Jk. -o
restrictions as hereinafter specified; .) .Ai~ ~I ..i~I_, c"~)-1_, Exclusive Representative Agreement
! Jwl'I I»
This Agreement is made on . . ~.)~ .li..ll 1» .)_y.::,
- Both parties attach great value to 0Y Y- ~.):JI :)l.S LJi ~ J - By and Between: : 0-- JS .Y.-1
continuously: :~ )~4 J.-11 •~ ~i
- A.B.C., a limited liability company with ~~' ··....---'"" ·...r. .~· ~y! -
a) improve the quality of Principals its registered principal office at , LA_;L., oJ_,~ ~,L-.. ..:..1~
Products; Netherlands l.i.;l.)f-1. ·••········· .) ~)I
"Principal"; • JS_,..J] •
b) increase Principal's sales and ~-' ~_,JI ..:..~ •..il,!j -y
market share in the Territory and ' • ,.#"/I • .) J_,..JI .) - Company with its registered ~)I lA.;i.oJ, ~y! -
principal place of business at , ••.)Al.ill• .)
c) keep the after-sale service at a high ..,le ~I .Ail..~~ r4il1 -~ Cairo, Egypt " ~
quality level, • oJ~I tYu ..s~ "Agent " ·~_,JI·

NOW, THEREFORE, it is mutually agreed ~ ~ ull.):JI ~I - IL-J

by and between the parties as follows: : ~L.. ~
- The Principal is engaged in basic 4.fa. c"~ ~;.n wl ~ -
I. The Principal hereby appoint the 1» ~.JA-1 ~_,JI ~_,.'..ll ~ - ' poultry breeding, research and • I+--+ u~YI r-1.J'!"!J LJ.?-1.J-lll
Agent as the exclusive Agent of the ·~"/I" .) .iJ l~J )4$J ..ii.JI development and sales of breeding J.:... ~_;JI 4\:iS ~J ' ~ J
Principal in the Territory with regard • J,J_,.'..ll ..:..t.;.:u.. if.! ~ ~ stock such asgrandparent chicks, parent ... ~)'1 4\:iSJ • ..i1~y1 4us
to the sale of Principal's products 4L-.:lS!I • ~I ~ : ~ chicks, commercial chicks and/or ~J ' ~-).~I 4L...:iS.llJ
such as: hatching eggs, commercial 4\:iSll •Al_, c>Y- JA&- ~)-:i.:Jt hatching eggs; ! ~L&..yi Jl ~I
:__----:---1
day-old chicks, pullets, parent stock ... ~)'1 (4-lll ••~I
and grandparent stock. · ..il~YI (4"-ll1:!,J _..-----"'1he""Pfinc1pa is llie exclusive owner of ~>---A ~;.n 0l ~-' -
-=~:___:_ -:-:---.---~~----:-
--------:i-:-Tlle Agent hereby agrees to inform the .i....._._i.jl I» ~.JA-1 ~_,JI t.Slly, -Y
the world-wide registered trademark ~I
,
"---:i.J4-:JI ~ ~ ,11
!. ~I
Principal periodically (at least four ti)) Y.JJ..l ~_,.'..ll t~! y-1:.
times per year) about market ( <J-i"°'il ~~I.) ..:.I..>" - The Agent desires to act as the
developments and sales situations tL-..:..JiJ J_,_....JI ..:.IJ~ exclusive representative of the
pertaining to the Territory in the L... JS.i ~"/4 ..t..il.U.Jt ..:.~I Principal in the country of Egypt,
widest possible sense; the Principal J-5_.'...n J--ily,J • ~ ~ "Territory" for the marketing of ABC '. . •<f"
agrees to inform the Agent of any wlJLI r..s~ ~_,JI t)l,J y-1:. Products;
inquiries they may receive directly or ..;:--t. _,l y!4-- ~ lA~ .ii
indirectly from the Territory. · ,.#"/I 0-- y!4-- - The Principal is willing to appoint the ~ ~ ~Y- ~;.n 0l ~J -
Agent for the above purpose but only .~l ~,.JI c.>°_y.ll J.JS_,JI
 3. The Agent agrees not to handle any J..L.....:JI (':ic. ...Jc J,.S,11 0!1 ~ - T'
florins twice a year over the sales ~ rLAll ~ ,jiiy ~_,..II
lines or to undertake any acuviues ..s~ l'l.;ill Ji ' ..:.I.e.,~
..;i t-4
volume for which payment has been J.-S;J ._,it ~I ~I ~
conflicting with or adversely affecting ~ y _,! r.-6 -.>4_;l..UJ ..::..U.L.;.;
fully and unconditionally received by .1..Jfa ~ ~ J..lSll.i ~
the interest of the Principal, nor .µ;..n~~..,..J...J4
Principal. should the Agent represent directly or ~!'~I ~tU::...Yl_).:.J
7. Without prejudice to clause 6 above the •4- ~
e.ll.-J4 r.Jj..l..'/1 ~ e;'" -V indirectly any poultry Breeding ~i ~ _>o!.4-- y,e. Ji Y:.4--
Agent shall be entitled to the full l~I J;S.,il ~ ' .~I (') company other than ABC. ~~ y,i:- cj;io.lJ.lll ~_;.} ~_;..!.
remuneration on all transactions ~ ~I ..:.w....JI JS l,F- ::::L.15 . ..r' ·..r. ·~
formally concluded during the validity 1:i..... u4..>--"' o.l.-.-A r.Jj..l.. ~J
of this Agreement. . .li...11 4. The Agent shall not bind the µ;..n r' jl) <'~ J;S,11 ~ -f
Principal financially, commercially or ~ ~ Ji 4_;~ JI 4J1...
8. The Agent shall not without the prior ~ JjL....rJI Jp_,11 ~ ~ -A otherwise towards third parties or to ~4 ...:..l.9 J..>"-4-" ~W! Ji , y,ill
written consent of the Principal assign lu ~>"! .a...!yll _,I~ make expenses on behalf of the ~ ~,,.. 0~ J's.,,:Jl
or in any manner transfer the benefits or •J~ ~ P t+Ji; _,I' .li...ll Principal without his prior written -~~
obligations under this Agreement. ~ '-iii_,.. 0~ J_,.-11 0-- consent ..
. JS_,..!I 0-- ~
5. All orders shall be subject to J_,_,.il ..:.~I ~ ~ _o
9. The Agent hereby acknowledges that u~ ..ii..JI 1.:i. ~ >"! J;S,11 fa. - , acceptance and confirmation by the ~J·µ;..n~_,
the Trademarks, and other distinctive U- L--A _y,e. .J ~4-:JI wt...:WI Principal. Sales shall be subject to the o.J.iL...JI .bJy!JI J .lfa.11 ..:.~I
visual communications supplied and/or ~I ·~' W_,...11 ..:..L.:WI prevailing terms and conditions of I'~ ~. •. . .ui.:w1
..:..t......Jt..
used by the Principal with respect to _,! ' '• .1;; '! _,! JS_,..!I ~ sales as provided to the Agent, from . y..'J ~ 0-- ..J.fi_,11
Products, will remain the property of ~~.1....~_,~ time to time.
the Principal and Agent shall always ' J...s.,..JI ~ _,i...... J.l;:... ..:..~
use the Trademarks only in accordance r'~' ~~_,JI~_, 6. For its services thus rendered or to be
rendered,. the Principal shall pay to
._l!L.i.. J.-p_,11
~ ._,--:;ll Ji
µ;..n t-9.l:!
~I wl..~I
.. i
with the terms of this Agreement. .1.J~ U,J.. Y) ~J4:JI ..:.L..::Wl
• ..ii..JI 1,:i. the Agent the following gross ~~1~1.0:,.J~'1U~~~-------:-
JS u.~
I 0. Should one of the parties violate any of u-:t.).11 0-6 c.SI
. ;.., 1..11-:;~
~:~~:::;;..r~·
» r
~-.:·:__---t---
.' .....rem1mei:ations-inclusive--or-alrtaxes,
duties and levies to which the Agent
f J--"' )1 J ..,..__;1~1
w~~t.....~...%-J
the provisions co · erein, -the
..L...ia.ll I~ .. ~ JL,JI ~ _y..'JI may be liable in Egypt: : J-"'A ~ J,.S,n
oifier party may forthwith terminate this
Agreement through simple written ....___:i.l... ~ ..r.~ fl..>.! ~ >"! a) a commission fee of 2% over the a.--:!J (%'1') •.Joli 4..1>""' ,....J -I
notice upon the expiry of a two weeks' _;llu.)'1 i.w .. ~1 _;_,I• 0F~ ~IJ~IU.~~~
C&F value of hatching eggs.
notice requesting the immediate remedy ..,..J.l..:i '
c.S _;_,_.ill C ";L....:.)'I
~
commercial day-old chicks and ~~1_,.~1~
of the identified violation, provided that ~y!~~_,.JI~ , J-o.l J r ~ >--"' ~_;t.;.:.11
pullets,
such violation is not remedied at such (:;'..) ...:. ~ ~ ..ill; c :::l..o! . ·~' (l_;ill_,
expiry date. . _;llu.)'1 .. ~
b) parent stock and grandparent stock c:L_.;...ill_, .l/il c:4-.ill ~ -..,...
11. This agreement shall be valid for a ~I_, l'k:. o.l..l .li...11 1.:i. c.S ~ •II ~_,l~4--~t4J1
sold directly or indirectly by the
period of I (one) year as from the 1st of l'L...&. ~ >.! 0-6 J_,'il 0-- I).""'" I Principal in the Territory, ·~"ii ._.-! JS.).n 0-6 y!.4-o
July 1996 and shall thereafter 1)-o ~~~lit ~J ',,, commission fees will be paid in Dutch ~J.,lill ~ tj~I r""'J ~
automatically be renewed from year to
 ~_,J tJ.J.. ~ -'\ year on identical terms unless either ~ll:.:i... ..I:._,~ w-' y..'1 rt&.
"""-----· ...~i...llJ i.:,.t 'J.i•B party gives the other party 3 (three) u ->---6]1 u ->----1a lS I ~ rJL.
months prior notice of termination by ..,..; 4 y J;,....... y~ _;,..'ii
International Distributor Sales
means of a registered letter. J:;),.:>. ~ ).b) ~ >"! <l_j~!
and Service Agreement
. .)~~·fa
Grove Cranes Limited desires to •.i~lu_,~A..S~yc._;, 12. In the event of termination for any ~ LSY .ii.JI ~~! ~\.:.. u-9.' 'I'
designate ABC Company as a distributor ~·~ - - ~..)-'
u-- ·· .<·u -'-»• <->" .Y'-'1 ·u"' reason whatsoever and at any time ..>-- ..:...._j-' .s l u-9-' Y4'-o Y I 0--
for certain of its products and parts, and l&. j.,.. • <.s"" • r.r. . ~· A..Sy!. ~ whatsoever: (a) the Agent shall be ~ _,Jl ~ 'i (i) :..:.U_,YI
ABC Company desires to accept such ~I <.:.L._;fi...11.J ~~ .:,,.... .l.la.l entitled only to remunerations as u--.i ~_,.JI .J~YI lS_,.,.
designation. Accordingly, the parties . u-!. ~'A.Sy!. ye._;,_,'~ described in clauses 6 and 7 above, the ~I_, .)lc.i (Y) s (1) ().!J.iWI
agree to the following : . ~I I~ J>->5 .,.! ' ~ payment of which shall constitute full yl+i _, "'1.ts ~_,...:; 4-a.i-i ~
:~L. ~ ,.Jl.i_;b.JI cjLjl .iii Ii! and final settlement of all his dues; and u.......ifa. ( y) ! .oG\h:i.........w J._..SJ
(b) the Agent shall immediately cease j)\..aL_..I ~ l.J_,_! ~_,JI
to utilize in any from or manner the
1. Definitions: j--A ~ ..s4 ~.J~I ..:.,L.)L.JI
As used herein, the following terms have Trademarks.
. Jl.i.:.YI
the following meanings, unless the
13. Changes and additions to this wL...JL...;..)'1_,~1..s~'i-\r
context requires otherwise.
Agreement are only valid when ~ 'i! .L.i.Jl 1:i....... ~ ~.i.Jl J
confirmed by the parties in writing. . 4hi. l+,.Jc. uly.b\11 ~
Delivery Service: :~l'......U..
I
Inspection, starting and testing (and, c.1..»! .J ~ ~.l./-' ..:.~I ~L.... 14. Any dispute between the Principal and J....S_,.JI 0--:! ~ t1.Y lSj -\ f
except where resulting from special ........:;
. Y-:l - L. ~Lt.:'......1..i·-' ) ~i . .r; '-'. .) w1
. the Agent arising in connection with ~ .ii.JI I~ ~ ~ JP_,Jl s
packing for ocean shipment, unloading, y....L~.......,,Wl~I~ this Agreement will be settled by Dutch ·LS.i;i _,.JI u.,;Lill w_, ....,.; J.,..,.i.J1
assembly and other preparatory steps to ~_).::JI ~l ~L.Ii ~~I Law.
the extent required) of Products, ..:...l~l..>--?-)'I 0-' ..!ill .Ji::._, ~I_, 15.
Principal hereby undertakes to inform ;; .J\.i_.JI JS_,.J ~ t ~~
-\o
including pre-delivery, delivery and (y_,_.u.,...JI ~ LSY..YI ~~1 the Egyptian embassy in The l.i__.;I _,. u-9 lSlA 'i u-9 ~~I
-1 -L.~..!lli ·~
------r~r.1Slt-~:mice.~1S--'ll~Wl~-11WJllO-!.~=::::!::!:!!...bl!:!..!::~!.::2.S~~~----"-----ll=lagt1ett=k»land-of-any-med~#eatiortt>f'----~w1-+.u:t-r-1~f=lb-------+--
. S . rt ti fG
d e I rvery ervice repo arm o rove or . ti ~ r--- .la..>. ll...t...JI
_.1...~11 . .J ~-' _.t...·.11 this Agreement.
each model of Products, and instruction ~ y,fa ~.i_,..; u-9 ~.,.. _,. L.
in the safe operation, use and care thereof J_S ~ 'u _,~· A..Sy!J ~I 16. Agent shall arrange for the immediate ~WI ..:...t.,y:;y.l4 JP_,Jl r ~ - \ I
in connection with their delivery new to ~.;.i::JI ..ill.iS_, • ..:...t..;.:u..11 0-- and }> proper registration of this lS.i....J .lkll l:i.J ~I Jp......:aJ
users, to insure successful operation and u_,..L..!1 rl~)'I_, J:Ll=.]1 ~ Agreement with the relevant Egyptian • ~I ~~I ..:.il.W..JI
resultant customer satisfaction. ' . L_•1.a.1
· 'I_, e;.-
~< L-._. '-'-A.lll ,. .............. -.··,;·.t 1 =_,,
...... authorities. ·
~lo~w~I~ Executed in duplicate by ABC, ~ly ~l ~ 0-- .)~
~1• .. Lasu~~1 Holland, on the third day of July, ...-i I 1.i;i_,. L(r"' ·(.Fl .~ .\.S~
~~.) ~ 0-- ..!ill~ ...,..:ifa. L._, 1996 . rL._c • ~~ ~ L>" ~1 r~'
. J:...all . IHI
 Program may or may not require _,I w,........S... LSI JI~) ~I ~ Distributor: : tl).JI
replacement of a part or Parts. · ..:..u_,s... The Distributor party to this Agreement. . .ii.JI I~ ~ tj_,..11 u..>1=JI
Grove: : U.JJ=!-
Parts:
: ..:iuµ Grove Cranes Limited. ..:..1~ • ~ ~_fi .._;Jfe. ~ _;:.
Any items heretofore or hereafter sold by .J--...o L...h'i .JI ~L.. A.c. i.,.... .) ii! LS I . •..lJ~l:i.=1_,:.......ll
Grove which items are designated as ._.---5 ..:..u_,s... 4-i->! • .u:..... W.Jfi'
Parts in Price Lists. • .)I.,....,'JI ~I _,j Inspection Service: : ~la.J l..~
Inspection, starting and testing of ~~.J ..:..L....i_,s..Jl.J ..:..4Ji..]1 ~t.....
Products: :..:.~ Products and Parts as applicable at the ~ ~ YJ4:JI ~l_».IJ ~
Complete hydraulic mobile cranes, A......l.\SJI ~I ~.J~I c.J.u.J'JI time of their delivery to initial users, as u---1) w...; ..:..5 J ~ J_,_.JI i-Uull
carriers, superstructures and major wU _,s..Jl .J "-,!_,l...11 JS4tll.J ..:..l)l.jllJl .J specified in the applicable Service report .l~ .JA ~ Jjl.J';I .j;!.o~I
components to which a model number jl~ ~J 4J ~I ~)1 form of Grove. In addition to such ~ J_,_.JI .t...b..ll y,jj:i C~_,....; ~
has been assigned heretofore or hereafter .uJ_» 04 "-c.4..JIJ lh'i JI ~L.. mechanical services, Inspection Service .i....A u--1! ~~ )'4J · .._;.J.» ~
sold by Grove. also includes reviewing with the user the L...h~w~1..:..t....i.;J1
applicable operation, maintenance and (:----"~I_,... ~l_»J ~j ~t.....JI
Sale: :~ safety instructions, warranty and LJ~l.J ~I..:..~ <'~I
Any transfer of an interest in a Product or .:i_,_s.. Ji ~ ~ ~ Ji; 91 Distributor services, as well as ~.J • ~4JJ ~1,JI ~IJ
Part by sale, conditional sale, or lease or ~1.fi.l'---! _,I ..6.J_µ1 ~4 JI ~4 submitting to Grove a properly ~~ .J tj_,_.JI ~ J • ,jl ........o.11
rental. . J~'i4 Ji. (~1 ~bll) completed warranty Service registration 0L....w.J1 .t..h ~ c~ _,. . ; ~ii:J
form signed by the user. ~ u---1:- ~~ WJ_» .))
Service Territory: : l...li.ll ~! .<'~1.).oW,.._,~
The Service territory set forth in Exhibit (I) <....L...!.S.l4 ~_,.JI ~Ir#!
(A) hereto. . .ii.JI I\...,,..,
•. • u-..r'
. ~• · - 'I Marks: :~
The trademarks, Service marks and trade W~J. ~-u4:JI w~I

Warranty Service: : u~ l..~ names set forth in Exhibit E hereto. ~_,.JI ~.J4:JI ~t......'JI_, .~1
Service pursuant to the terms of the J,_..11 ..:it.......:.JI ..6Jy!J \.4.6 .t...b..ll . .ii.JI I~ ~yJI (---) u..:.s.ll ~
--------a~p'"""p"'Ire-ablrwana:nty
ofa Product--3Ad.an1¥-~i-L~-~--t!...I t..e:~~---L----1~··ee-1:mu.
~..i...w:!..i
extensions or expansions of that warranty ~ ~ u.JW.. .JA I..... 0t.......:.JI t------------------'-A~~~'------
Lists and supplements thereto published •.Jy.!.WI t..i ~I ~1_, ~l_,ill
which are recognized in the warranty Lo! t4=i.J <....i_,.» ~ -.s:UI .,:,t.......:.JI ,
, , •. , .... ·1 .. 11 by Grove and distributed by it showing ,.__.;,,,.y ~l.J .....;_,.» o- -'.t.j_,.JI_,
practices· of Grove and communicated to ../J~1 ...J........:...I ..:i~ l.i.J . tj_,.... ,_
Distributor. Where the applicable JI L.. ..Jfi... c'..ll.....o) ..)c ~ ~ suggested resale prices of Products and ~ •..iL.c.)' ~foll .;t,.__..'JI
Parts . w\J .c .11_, ..:...~.•· 1
warranty of a Product provides for the ~ .;it.......:.JI ~.i;.. J...!U • -Jl~I · .,..-
repair orreplacementofaPart, Warranty y......:iSJi.Jc'..ll.....o) J= ...Jt.......:.JI ~:U
Product Improvement Program: :~~~""Y.
Service pursuant to such warranty .-JI~) _,i "'-'"''..ll.....o) f> ..s:UI w_,s....ll
Any program proposed by Grove ~ <.. .i_,~ "'-'"'fo ~\Jyvl
includes the labor of repairing and of requiring a modification of Products ..J.J~ ~ o.i_,.,.._,.JI ..:..4Ji..]1 ~

I:
installing the repaired or replaced Part . which are in a Distributor's stock or are . t"' ll ~_,!...JI Ji tj,__..ll
I ..

owned by a user. A Product Improvement ~\Jy ~ 0i j.YH 'i _,i j.YHJ

\
 and conditions, and shall cooperate in ~ cJJ~ 01 ~ J ' .h _,y:.11 ·41 2. Designation: :~-Y
providing such security as Grove may .._._,~ ~ i..):ill i.J:A\.:;JI ~ Grove hereby designates Distributor as an .l......i...11 1:i........ ~..,...,. .._._,_,.,. ~
require for credit extended to ·tJ_,..JI isl) ~I JWc.;:AJ authorized Distributor of Products and u~ I~ W:.j_,..tj_,..JI
Distributor. Parts. Such designation shall continue ~~I I.la. ~J ! ..::...t.;_,s..JI_,
until terminated pursuant to section 14 Ii-A o- ( \ f) ~ U,J. ..._;l+-i) ~
B) Grove reserves the right to change, at ·· (..)·I i..s-• ~"-'Liu
Y.A-J • J..?.- ~ ('-'. hereof. .Ji.JI
any time and from time to time, the .h_,~ y..'i ~ rYJ L.9_, ..,1 ~
terms and conditions of sale of Products . ,::.L_;_,s..J1_, ul+'WI (::! Jfa.J 3. Primary Purposes: : ~)I ~lfo'iH"
and Parts. When practicable, Grove ~WI o- \.&... ..illj c.Jfi.:! L...ll.c. J The primary purposes of the parties in u---- UI~ ~.}I u-01y:.\'1
shall give advance notice of such ~ l.Jl.b) uJ..?.- ~~I making this Agreement are to develop uL....;.:.i...11 ~ ...4 Ji.JI I.la. rly,)
changes. . ..::...1~1.~ and promote the Products and to provide L.......u. _»-J_;._, , l+--J ~,uJUI_,
high standards of Service and Parts ~! ~ Jk. i..SY..... ~ ..::...ufi._,
C) Distributor shall place orders with ..::..4:illJ1 -...i_,_,.,. isl! tJrll ~ (--?- availability through Distributor's Service ~l___w,,.J ~ uL....:..I tJ_,..JI .;....~
Grove for Products and Parts it desires to ~I ..:..L;_,s..JI_, ..::..~4 ;.......w1 Territory in order to insure satisfaction ~J. u'+'WI • .:i.. ~
purchase upon forms furnished or (:iL...ll1 u--k \.+ii~ ui y&.y, by users of Products. In order to achieve u--1c .._._,~ .l.Li..:i u-01y:.)r1 o.l.
approved by Grove. No order shal I be 'J J · w _,_,.,. rJ.< ii.i..J.......11 _,I -......i.i..ll such purposes, Grove relies on the ii )..i)'I e-iL...1. ~ s tJ,.JI ..:..~
binding on Grove until and unless A-- w_,_r.o.J ;...jl. ~ •-:il"<.:uS.. ownership and key management ~_,.. y. ~ "1 e;11.:i.ll ~.}I
accepted in writing. Acceptances shall be JH ~J · 411.:i.S J:>iJ ,) .))., personnel of Distributor as set forth in . .L-..i..ll 141 ~_,JI (I) ~I ~
subject to sections 4F, 4G and I 5A ' (j) f ' (_,) f rL........D..l ..:.~I Exhibit A hereto. Distributor agrees to ...si ~I->--'?') r:ic. ~ tJ,.JI ~IJ:!J
hereof. All orders accepted by Grove J._5. ~-' · .fu.ll l.lA. o- (I) '0 make no change therein without Grove's LiSI_,.. uJ.l! ~I I.la. ~..:.I~
shall be subject to the applicable printed ..b_,~ ......_,..?.-~~I ..::..4:illJ1 prior consent. In order to support .>---SJA ~~_, . .._._,..?.- 0-- ~
terms and conditions of sale except to the ~ ~ J_,_...JI :i.t:.~I J~I, Distributor's posture as a high standard I.Sy.._,.,,...~ IJ.J>' ~ tJ,.JI
extent that Grove may in writing ~ yl.:i.S ......,_,.,. ...:.U.SI_, lj) Y) supplier of Products, Parts and Service, ~I_, ..::...L;_,s..JI_, . .::.. ~ isltt.
specifically agree to the variance of any ..b_,~l • .la. L>'" "l Ji..l.:i .)c. ~ Distributor agrees not to affiliate itself( r.J.<) .h4i.J)'I r:ic. ~ tJ,.JI ~I>.!
such terms and conditions and ~ "' ,,:,~ ..ill:il u.,..b_, •J~I _,
accor dimg 1 y any variations
· · propose d by r--
_11 • ::o ._ .• ....
~.r ..r ..r.--
Ula.J.·
• t.J. __ 11 1. • .:ili
,,.. -.,.....--,
through investment, management or (w:::Li. _,l ii)..i)'I _,I .Jt...:;....)'1 ~
Distributor shall be deemed r~jected ~ JU.J ~J w_,_,.,. u-l! JW otherwise ) with any owner of Products ~I_,.. u.J.l! . .: . .~ ..illl.. l.Sl e:--
unless speer ica y re enrr'!edrt-i!CIO-ila1nnrtd-l\fd~ut>~•l?~~-~~~.;fb"-.::i:. r»~'.J'!."D"----+--......::w:.:,ith~o:,:::u!.,t
~G:.!:ro~v:e:..'
s:.!:pr~i~or~c~o~n~s:;en'..'.:t::... .; _::'--'::·
-':;Y/>~.:_.::u.-:_:~
·:··":"
·:_ _
accepted by Grove. Grove, in its sole . ~ "'-:!I Jy,i ~ _;. 01 lA.u.s
discretion, may refuse to accept any J-,.i ~~I ~wi tJ_,..Jl JYHJ 4. Terms of Sale:
order. Distributor may cancel any order ~l_._Al) JYH 'J Jy,i.11 ~J. 4-1~ A) Grove agrees to sell Products and
until it is accepted. After acceptance, no ,,:,......... ~l.:i.S .WI_,.. u~ ~"-:ii Parts as set forth in Exhibit (A) to
order may be canceled without Grove's i..s--1t:. tJ_,._.JI ~1y,_, ....... s.» Distributor on the terms and conditions
written consent. Distributor agrees to ..._._,_,.,............, ~L;Y. l.51 e:-- i.:uL.:JI specified in Grove's Price Lists and
cooperate with any program established ..:..~ ~ ..:..~ ~ schedules of discounts, charges and
by Grove for the advance ordering of _,I "-:!faJI ~I~~ ..::...t.;µ1_, terms of sale in effect on the date of
Products and Parts by annual order or by ·l.S y..1 ~_;b "-:14 shipment. Distributor agrees to pay
other means. promptly in accordance with such terms

\
 if, in Grove's opinion, Distributor's t j_,_..ll .)L..JI t---'""'_,Jl ulS I :i)
financial condition does not justify the ~ .)~ 'i ......;_,..» l.51.; ~
extension of additional credit or if t j_,...11 J;..I 1:i1 _,i , .)L...o! .ll..:ic.! 0) Grove shall issue credits with respect
~4wl.l~)u.J...P.i~ (J
Distributor has failed to fulfill any of its ~~ ...:il..ljll) 04 l.54 ~l.9_,14 to shortages in shipments, warrantable wL..;.,:iWIJ u~I ._,j ..:.I j,,...Jl
obligations under this Agreement. In F L5i o_;.l.i ~L:... ._,j_, . .lb.II 1~ Products and Parts and returned .,JL.....o:..!J ~WI uWfi..JIJ
the event of a scarcity in any Product ......;_,~ J~ 0i.s 41 ~ ..s'i Products and Parts on the terms set wL........lfi..JI.s ..:.L.;:.:.W1 ..tl__1.lSs
for whatever cause, Grove may allocate 4----:1.ll ~l:i.JI wl.ll.lo)'I ~ forth in Exhibit (8) hereto. ~_,.JI .l._,y:.il li,il. ~_>-JI
its available supply as it sees fit, uc .):..ill ~Lt] t.S~lfa. ~ . .lb.II 141 <Ji_>JI (y) ~I~
regardless of the time of receipt or _,I w~I J~ _,I ~! wi_,
acceptance of orders or the quantity of . t._)A4Jl..:.,~I~ E) Any claims against Grove for u -'...>--:?- .l.4 ..:.4)t.b.. ~I ~ (_.
orders on hand. shortages in shipments or damage ~ uL...,i.t _,I ulj~ 0---c.
thereto shall be made in writing within
' o ..J~ ..s--i \:.ii.JS ..:.llo...!.11
5. Distributor's Places of Business: : t.J.j.J ~ JSI.>< -o 15 days of receipt of shipment and shall o.l. ?'.li:;.J •~I~) 04 L...J:!
Distributor shall maintain suitable places ~U. J..c jSI ~ tJ_,...11 ~ be submitted to Grove in suitable form JL..:. ~ ......;_,...?.- ~! ..:.,4]Lb.J1
of business at the points set forth in i · U-..:.S!I ._,j ~_,..JI .fil..YI .) and detail to enable Grove to lodge a ~ ~Li:; fi:i t"' ..,.....u...
Exhibit A hereto in order to provide yl-....:... .,»i _,:.I .lb.II 141 Ji_>-JI ' claim with carrier. Responsibility for .)) ~l.h.. 1":1-li:; 04 ........J...?.- ~
adequate sources of Products, Parts ~d ~I_, wl..i_,s..JI_, -.:...L;..:U.Jl ~ shipments shall remain with Grove only ......;.J..>-'!> ufo 'i .J . tjiWI -'.S~I
Service to users within the Service . ~~I~) J:..l.l u~•'.;,-,,,.11 so long as the terms and conditions of ..:..ULS I~) 'i) w~I UC "J_,:......
Territory. All places of business shall be J--,!I jSI .» ~ ~ ..blb.ll ~-' sale applicable to such shipments i!L.Jj ~ ~_;L....JI ~I .l._,~
maintained in a neat and attractive M 0i_,, ...,.,14_, ~I~ ..,i provide that Grove shall have risk of ......;_,~ ul u-1:- ~ -:...6.!.11
manner and shall be adequately staffed ~ ~ u.JJM-' ~ts .UW:. .,»9 _;, loss and any claims for such shortages , i _;L.....>...11 0--&. -9_,;,...JI Jwj
and stocked. In the event that any _;:-Jy l.5.J.J~I 04 ~I l:i)_,. or damage occurring thereafter shall be -'.S~I .)) ~ ,) tJ_,...11 .)c. .J
additional place of business or change in ts.JA ~ _,i ._,jl...o) J.c. jSy ..sl made by Distributor to the carrier. _,I wl jp,.&.- uc w4Jt,b.. ~ tjiWI
the location of any of Distributor's places tJ_,___JI J..c jSly 04 .fiy l.51 ~ ~ ~I 1.l. 04 u\:ili
of business within the Service Territory ~.i.;.:,,....Ji ~~~~I ~) J;..IJ . .ill.l
becomes necessary to Service users, 0--4 4.LJS '"----i;I >.&.! t j_,...11 ?'~
Distributor with the written consent of .L.iil _,..JI o.l. ~ F) Grove reserves the right to make, at d 1.;:Jldt~ uJ ~ li.jj> i (-
Grove (which shall not be unreasonably J.-.-Sy ~L.....!.;!-1 (J_,k.. .;..»- u~ ime and from time to time without 0--.J wi_, l.51 ~..:..I~ ~I_»)
withheld), shall establish such additional ul.5.. Ji; _,I y_,ll...JI ._,jl...o)'I J-,ll notice, changes in any Product or Part LSI u---1 .;~! u~ ~'J ~
place of business or relocate such . J..il4 ~till J-,ll jS .>" (whether in design, materials or ,• 1 • ..:ill .) ~I_,...) wfi-. _,I F
existing place of business. otherwise) or to discontinue sale of any ..s--i ~ _,I (~ _,I Jl_,...11 JI
Product or Part without any obligation u~ ufi-. _,1 ~ t.SI ~ .....£i_,
6. Distributor's Sales Responsibilities: ,-J '-'+~~ .:.4~ _, or liability of any kind (including, ) t_,; _,1 04 '9_,l..... _,I ?'IJlll l.51
: tJ,,.J! without limitation, for failure to fill 'i JWJI ~ .)c. ~ .) ~
Distributor shall employ adequate 0---< 41.S l.ll.l.-.<'.i tJ_,...11 W..6.J:! accepted orders). ~ -9_,;,...JI _,I rl y!'j I _;-:JI
numbers of experienced and competent i.J:!.-..wo yWI ..:iL .....~~I (J""""'!.J.l.i.. -(~~w~ .. ~I~
sales personnel to serve the Products, ...::.,~\ ..:.,~ ~ u1 ° 0;1.1\
G) Grove may decline to make delivery ~I rW! ~.; w_,..r.-J j~ (j
 Service on Products in the following : 4-f.'il ..:.,YL:....11 .) Parts and Service needs of the Service • ~.i;JI ~) .) ~I J ..:..ufi.JI J
cases: Territory and will demonstrate and w~I tj_,..ll <" ~ L..S
l)4 .J&-!
exhibit Products throughout the Service ~~I .) 4-J ~ uAJ.J&- ~1..»!J
(i) On all products sold by Distributor ~ ~1 ..:.t.;.:.Wt J$ - \ Territory. Distributor's sales performance lJ---.oo u J..» c..s ~ J . ~I ~!
which receive their initial substantial <"l.l.il..........1 JJI ~J tJ>-11 shall be evaluated by Grove from time to ..::.~ ~l.l'J ~ J---.i..'J ~
use in the Service Territory. .~.i;Jt r#'.) 4-J i.S..JA» time. Such evaluation shall be primarily, ~ ~I Ii..... f».J , tj_,..ll
but not exclusively, based upon J::i-..... ~ ~ ~J - ~.)
(ii) On all products sold by another ~~I wt.;.::u..ll J$ -Y Distributor's sales achievement in the w~ ~ ..,Jc.- ~I
'-"'t..l
distributor or by Grove which receive JJi ~J WJ._» Ji_,;..! tJ_,.. Service Territory and Distributor's .;l~IJ , ~I ~! ~ tj_,..ll
their initial substantial use in the r--:ili' .) 4-J l.S..JA »
<"'~' maintenance of, and improvements in, its 0-- <l......b...li L.....J tj_,..ll w41-c
Service Territory unless Grove uJ~~~~I operations in order to further the primary ..>---:!y.:.l w4l-JI 01' ._,Jc. ..:..~
notifies Distributor, prior to ~'J tj_,..ll ~bl J:ii tj_,.JI purposes hereof. Distributor shall comply <"~J . .li...11 l:i.,J ~)I ul.lA'JI
Distributor's performance of any J
I Li..it.....
•
~ l _.1 ... ~ ~~
J ~ with all laws and regulations, as they ..,---:JI ~I _,Ill J ~I _,ill ~ tj_,..11
Delivery Service, Inspection Service -·' .. ~11
..---- ~ ·L ·t.....:.. ~
u.u exist from time to time, applicable to the l+-! J_,_..Jl J _,;..'J ~ (.;A c.S ~
·.I • ·-11 ~
or Warranty Service, that Delivery u---- J ~t......ll
• ~~ J sale of the Products and Parts and the • ..:.L.....ifi.Jl J wt.;.::u..ll ~ ~4
Service, Inspection Service and y,..-.t. t j>-""11 ~.li;! u=JI transactions contemplated by this I~ ~.>41 W_,;.Jl w:Mt......!IJ
Warranty Service by Distributor are u.o~ iJL.
JI • "----! _,J.h.. Agreement (including, without JL_Lll ~ .. ...,- ..81:i ~ . Lw). .li...11
t~

not required or unless the Product at J

l , c==..It ..:..i J e:.-
..._;__tll • -·.;.It limitation, country restrictions on exports Ll_,.i.11 ~fa ~I J~I ~I 'i
the time of sale is damaged or has l.S ..JA » ~ I"~! .li u~ from the United States of America). wL....;'i_,JI 0-- wl yL.-11 ~
been substantially used since l 1i ill o.l~) JI ~I .ll..
0
. (i.u.:;..JI
manufacture, remanufacture or . ~411 oJ~! JI
rebuilding. 7. Service responsibilities: i:..l:ll~ -v
: ~.la..14 ~
A) Distributor shall at all times render u-i tJ_,..ll r-~ - l
..:.L..J}il ~
(iii) On all Products sold by Distributor ~ ~I ..:.t.;.::u.JI J$ -r prompt, competent, diagnostic and "-Au~J~~~
which receive their initial substantial <"l.l.il..........1 JJI ~J tj>-11 mechanical Service and Parts support ..:.L..; fi.JI y,ifa.J ' ~ J "-:1.;_,i
use outside the Service Territory only ~I ~! C..J~ 4-J c.S ..JA ~ to all users in the Service Territory of c..l-----..s.J ·~~J c..s.;_,_.i ~
if Grove notifies Distributor of its l:i) ~ 'O.u.lJ "J~ ~ ..81:iJ ast resent and futur ~
deciston fhat ueuvery Service, t.J IJJ~ w regardless of when, where or by whom JI "-:]WI) ~L-ll ~
Inspection Service and Warranty t j_,__.JI ~ y .»>! Lt. Jfa. Products are sold. ~ us J .:;p .)i.ill ~ ~I
Service by Distributor are required. In ~t......ll~Jµ1~ ~I JI ~ ul.i.. JI wt.;.:.WI
aJI other cases the provisions of ..,-iJ . oi-.A ,j~I ~J .~..::....li~l
section 70 shall apply. c..s..>--"" l..SY..'11 Jl_,..')1 ~
. {.l) V ~I <"l.S..:..l B) Because both Distributor and Grove UJ._»J tj_,.JI 04 Ji ,jlS LJ -y
C) Delivery Service, Inspection Service ~I~ tj_,..ll <".ii:i -~
desire user satisfaction, Distributor uJ..i ~1 ~L..:a..; ..,..wS ~ u'-!i-Y-
and Warranty Service shall be provided uL.........:o..11 ~J ~t......ll ~J shall be responsible for and shall ~ l:P 'i _,.__..... 0,....,S,i tj_,..ll
promptly render Delivery Service, ~ J ~t......ll
• ~ _.L..~11 ~
Jr--
by Distributor without charge to the . o...i:!.;L-.... "-:!i ~I ~ .jJ.l!
customer. Inspection Service and Warranty wL...;a.:i.Wl o= J6,ll ~ 0L...A11
 Ii...... . .1 ...-. . L.
within 90 days after delivery of each 0--'" F.. IC' -
(J.> ..-- ..>4 -" D) Whenever Distributor is not l_j:. 'J Y..,... t j _,..JI 0.fo. 'J L..llc. - ..l
such Product to the user in the Service ~! u--i (' i;,-.
-)! ~I ..11
responsible for Delivery Service, ~_, ~L....11 ;__.h_, ~I~
Territory and shall be settled under the ..:.iL..,J\.h..JI oio. -'.;_,....:; ~J ,;__...i.;...11
Ins~ction Service and Warranty ~~l'lit...~,:;L......;JI
provisions of the selling distributor's .~WI tJ_,...ll .lie <'l.S.:..i ~J"'! Service on a Product which it sold, it ~11'-""'J u_,_p.. _,!) tj_,...ll
~ ..Y' ~.bi ..:.il,Jlh..J4 cj!Y-J
agreement. Claims shall be shall pay Grove the Service fees ~j.11 ( ..l) u.:.s.11 u-i >..lA..JI
accompanied by evidence satisfactory - : ._).iL. .l,!i:i w _,_p.J
outlined in Exhibit D hereto, except no u~'J tJ_,...ll ,:;I 'J) , .ii.JI 141
to Grove. payment shall be due from Distributor 1../-i ~ t--4- .sl ~..l./ i, jl...
with respect to any Product which at the JI ' ~I ..:....i_, Utll ~AF
(i) That a sale entitling Distributor to ~ w...> .ii t:!-1 -'.;L.c. .) - \ time of sale is damaged or has been ~ r:.
.i....1..i.:io.L...) .l....J 0.fo.
such payment has been made; ! ~I lio. 4-.:.c. tJ_,...ll substantially used since manufacture, •..iL....c.J _,I ~ i.-4 i.S J" yi.
remanufacture or rebuilding. · A.jlii 1..iU::.) _,I ~
(ii) That Distributor has not and will not ~~ j--1_, t1 tJ_,...ll.) -'I'
;__..i.;. JI ~I ;__..i.;. u1c. j,...._ll
charge the customer for Delivery E) Whenever Distributor is responsible 'JY.......,.,. tJ>-11 0.fo. l...llc -_.
Service, Inspection Service or 1:i. ,y:. 1. J L.......<.ll ;__...;;,. JI ~\.....JI
for and satisfactorily renders Delivery ~_,~I~ <J:.
Warranty Service on such Product; !~I
Service, Inspection Service and l-.. ~ ,:;!-;.JI ~_,~I
Warranty Service on a Product sold by ~ <'~-' ~l tJ.JA ~ I'll
(iii) That Delivery Service and 4...-A.i.;._, ~I ~.i.;. ,:;I-'\" another distributor, Grove shall pay to ~ • ..:.i~l.i........A~..r
Inspection Service has been performed li..-..A u1c. L..i.jl..ii f> .ii ~L....11 Distributor the payments which it ~I tJL.+JI t j_,...ll _,!) w Jfe
on such Product by Distributor. In no r-j.J:i'iJ. tJ_,...JI ;;..h....ly ~I receives from any other distributor ~ J"'! ~l t j_,... .s I i.)o u.\.iljj
event shall Grove be obligated to Jl~\11 i.)o J6. LSI u-i w_,_p.. under provisions of an agreement ~ ~ u-i :u;t...... .lie <'J.S.:..I
commence any suit or proceeding, or :i~) _,I ~ } LSJC..l l.Si e;'Y. similar in nature to section 7D by JJl ~ ..:.ii..;.:u.. t:!-1 <J:. ( . ) ) v
to take any other action, to recover oi.....A ..il..iy....._...'J ~l ._l_p..) LSI reason of the sale of Products the initial ~! ~ 1+--1 (..$ ..>" .» l'l.i;.:....)
such payments from other distributors. . 0-:!~i ~ j_,... o- tll+JI substantial use of which occurs in the • 4-....i.;..ll
Until and unless Grove receives such .._._,~ ~ t1L.J ,:;I -)!J Service Territory.
payments, it shall not be obligated to cJ..l.! <'Y,'J 4-i~ tll+Jl .:i. u1c.
make any payments to Distributor lio. f'l.S.:..\' t:4b tJ..,..ll tlU.. -'.;i
--------1prcarr1
section.
"--------~~-~1
s~all!mm1it't-tttorlt:hhee4'P"'r10~,;<i·isisice0ftns-.Q£.-thi s' 4 _,W:!h~e~n:ev~er
Distributor is responsible for ~
. remtm . Detivery serme-;---~~~~-
'J y..,... tJ_,.JI ,:;fa. l....lJc J
cs------
Ins~ct10n Service and Warranty .._._,..>---'!" u..L...l t... ~ 0L......;JI
Service on a Product sold by Grove, ~ • ..:;,t....i.;..ll .:i. <.S..l)i..J ~
'F) In addition to the Service fee, ~I_,, ;__...i.;...11 c"""J _)J ;jjl..u:.)'4 - J Grove shall pay to Distributor such H .s.lll t4-J1 tJ_,.JI _,!! u_,_p..
Distributor agrees that he is responsible ~ 'J y..,... 0.fo. 01 u1c. tJ_,...11 amount as may be mutually agreed ....;_,~ ~ ~ ~ cJw'JI
for the cost of reassembly of any r:.~'-'I ~o..iU::.J ~ u~n. in advance between Grove and . tJ_,...llJ .
Product which has been disassembled . ~I ~l_j:."J ~
Distributor,
for shipping purposes.
Distributor's claims for such payments ~I •4! tJ_,...ll ..:;,4Jl..h. ~_,
G) Distributor shall employ an adequate 0---4 W\.S 1..i..lC. tJ_,...ll Wl:.y, - j shall be made in writing to Grove 'I· 0~ u-i .._._,.».,I!'-:!!~
number of experienced and competent ~_;.ol..!1 ~ .i;.11 ..il_>--.!1
 desirable. either without charge or at Service personnel, maintain adequate ul.ll.i..J...-! ~J • ..JJ o;;.11 0

such charge as Grove specifies. supplies of replacement parts and c..5---91.JA l".li,iJ , ull _,s..JI LJ.o ~tS
provide adequate field and shop Service u!i.J_,_JI ~ ~~J ¥1.i,i.. ~
B) Distributor shall develop and execute facilities to perform all required L.....,. ~_,lb.JI u~I JS ~1J)'
marketing programs to promote sales of services to the satisfaction of Grove. In ~.lo..J .i:.c.J. uJY."' ~w..J j~
Products, Parts, and Service within the determining the adequacy of ..,-:JI ~.i.;.JI .l~ ~::l..1..5.i..
Service Territory. Distributor's Service efforts, it is agreed ..:ii ~ JiJ....ll 0-o t j_,..Jl l+-o.li,i
that primary consideration shall be ; ~Wu~ JJ)'I ).~'jl
9. Product Safety: :~~-~ given to:
A) Distributor and Grove agree that ,) ~ UJY."'J U_,..JI J-91~ - I
product safety and improvement are LJl~I JW ~J~I ~ (i) Customer satisfaction and :
goals to which each is committed. To u-9 o.lel....wll_, . ~~JS I"~
assist in achieving these goals. tj_,_JI ~ ul~ )'1 .~ ~ (ii) Distributor's actions with respect to ~ l..-:i tJ_,..JI JlM,.I -Y
Distributor shall inform himself about ..:_,I ,·.;.\I ~l.ll-i L..Jc. ......_..;,; improvements in his Parts and Service ~I ull_,s..JI ..,i ..:.~
the performances of Products used in I tJ,.11 ~ ~! u-9 ~I operations necessary to carry out the .;;JI ~I u4k ~J ~
the Distributor's Service Territory and ~ JL-,:...11 u-9 tJ_,..JI I" fa..J primary purposes of this Agreement. . J 2bilL..........y..ll ~
shall, regardless of the expiration date uL....:.:. .s I ~ l+U) ~.;u l.J&- pl . ..li...ll 14} ~.)I t>ol_;t.)'I
of any applicable warranty, promptly ..sl u~ .._. JY."' ).lu.H ~ J~
report to Grove concerning any features ~I u-k ~ _;J ~ U""I _p. H) Grove's decision as to what L..jl.. WJ~ ).;--J ufa -___,,,
which may affect the safe operation of o--1=! L..S · ~ .s)' 0_,..L.J1 constitutes initial substantial use or l"I~) J_,I ~ LJ~4
any Product. Distributor shall also ....a_,...>--'l' ).bH JWI u-9 tJ.,..JI place of such use or to any other _,I i"'-i:;.:;......... 'j I I~ ulS... JI ...; ..JA-""
promptly report to Grove concerning all ~ ~) J,....j .;.JI <!.ul ~I JS.! interpretation of the provisions of this 1.:i..... I"~)' .?-i ~ .s'i ~4
accidents which come to his attention u-9 ~~I .::..~4 ~ \4 section shall be binding . .~I
involving Products in use in the Service w _,.i.:.. ~) L5 .l_;J .;.JI .J ~~I ~)
Territory and which result in personal <....i......t wl.l.-:>.) JI ~ ~~) 8. ProductPromotion: : ~ ~..J_)-11
injury or substantial property damage .le~.J I .::,,~ 1..5_;-.A YI" A) For the benefit of Distributor and tj_,__JI W..-1 u_,y,. r~ - l
and shall assist in investigating such oi....A ~~I ~ tj_,..JI itself. Grove shall romote Product ·
accidents. Distributor shall perform all ~.)! tJ its own name and at its own expense in ~L- ~-' l+--iH ..:.~I
Product improvement programs 4--.ic. ij-W ~I ~I ~ such manner as in its sole judgment will l+--ii L......-A_, .sy .;JI ~.):.!4
announced by Grove within the time ~ )' •.fall 0.,,....:...c. u-9 ....a -'fi- best tend to promote sales. When u-fJ . u~I ~ ~! ..;.l_;::...
limits specified in such Programs. j_,........~-u
. ~1y11 .~ ..,i •~I agreed upon in writing, Grove shall ....a_,~ t""'lil:i l:!US Jl.A.'jl U..
Distributor may claim against Grove for - : ~ ~ U.JY."' ~ tJ,,.Jl share the expense of promoting .::..1 ,;;.11 r!:-'..JY ~.;l--
Products, Parts, and Distributor's r--""4 tj.,..JI .::..~_, ullfi..JIJ
services in the Distributor's name in the .,>--i ji s . ~I ~) ..,i tj.,..JI
(i) The cost of such Part or Parts, if any, Service Territory. Grove shall make .ll,,._.J ~I .ll_,..JI tj_,..11 u_,Y."'
as may be required to complete available to Distributor such technical L..) l+---.l .s~lfa. t..,...... J:i_,...:;)I
Product Improvement Programs and; and marketing materials as it deems JiL...........i.. Jj ....A..) n • ijjol-!

I
 : .)-1...;ll~IJ ~I - I I (ii) Reimbursement for any labor ~ ?'li J..c. ._si 0"- <.>4:!_,-.j -Y
11. Records and Reports :
.J:!.JLl'.JI ~ tJ_,_..ll ?'_;s, ( i performed by Distributor in oLA JWL...) ~ tJ_,.JI
A) Distributor shall make the reports as
•):.'/I ::.1..r--JiJ w~4 GWI completing such Programs, such ~1~ui.)c,~1y.11
to ownership and key management
(l") ~I ..,-9 ~_,.JI ~.)I reimbursement to be in accordance w J.:J-4 .uJ...:j ~.ill J.J41 ~
personnel described in section 3 hereof,
with a payment schedule published by
and the safety reports described in ..>:!.JL.i:i ~LbSJ , .l...-i..ll I~ J.o ·~u...>:'~
Grove for each Program.
section 9A hereof. and shall provide the •(i) '\~I ..,-9 ~_,.JI '\..o)l....Jl
certificates of insurance described in ~_,.JI .J:-obll ..:ii:.~ .)>.u B) Distributor will hold Grove and any "-S_;.!. ~lJ uJ.?. tj_,..ll ~ -y
. :.WI 1.l.. j.o (1 · )~1 .._..! affiliated company harmless from all
section 10 hereof. L_il ~ ~_;.....JI <.JA l+l ~t:;
loss, damages, costs and expenses, ~J.:..~JY~
B) Distributor shall maintain current -...>""~ ~ tj_,.JI ~ ('-:-' including attorney's fees resulting from, yL.:il ~.) cs-' L...i .:,,\j JJ'-4A J
records of the names and addresses of 0.! 4,,, 0.!JL...Jc.. J ~ L....-......4
I "''
or in any way connected with, the • J l i..>--L
L....uS . ~ . .. ..r~11 .....
I I
~ 'I
users and prospective users and of ..:iL...,.lhJIJ ~'J ~' possession or use, including ~ lSi ?'l~I Jl oj~ ~
applications of Products and make such oLA <Yo~J , w~4 :i.....:.WI demonstration or display, by Distributor 1.l.. ~~ WJ.?. .i.....lij ufi-. JI
records available to Grove upon . 4-..,J.b ::.:ic. ....:.J..» .)c ..:,~I or a customer of Distributor, of any JI u1-)1 <Yo~l .!ill cs-' L...i :.WI
request. Distributor shall maintain ~ ~ tj_,.JI ~J Product or Part furnished hereunder by tj~I ~4- <.JA lS::.Wl <Yo~l
records of advertising mailings and ~'JI L,!.l,!y.11 ..:,)L.....\ .;--JI Grove except to the extent that such .» ~ L.. fa. Y.1 ~ ::.o..i JI
make such records available to Grove WJfe .)c w~I .~ <Yo~J loss, damage, costs or expenses are JI u_JL.__S:JIJI utll JI o.J~I
-~ .l.ic. caused by a defect in such Product or
upon request. IL.A ~ ~ 0"- ..:..Lt J~I
part existing at time of shipment by wi J I:.»_,.. ulS ufi..JI Ji ~I
::. . - I\ ~ ..• 11 .hfu., (__...;..
C) Distributor shall maintain detailed ~ .. t.J.r' • Grove of which defect Distributor was ~ ~J • uJ..>--'l' J.o ~I
inventory, sales and service records ~ ~) ~IJ w~IJ unaware prior to the occurrence giving w~I ~ "-! ~ .)c tj_,.Jl
(including, as appropriate, names, dates, ~).iJIJ ~L....-......\11 o_JJ~I rise to such loss, damage, cost or Jl o.J~I o.l.. ~ U{Jy t_S.lll
(Al J .,.I\ ('LJ.J\'IJ ,:_f.L...\'IJ expense.
places and serial numbers) and, upon .wltJ~I Jl ~I Jl utll
request, shall provide such records to ~ ~I .l.ic. o.l.. <Y>Y'-'.J
Grove in a form satisfactory to Grove. .wJ_p.. ~ ~ ..,-9 WJ..» .)c : c»-1.:i.n -\.
 under its applicable warranty,
Distributor shall be reimbursed for any
defective Parts repaired or replaced by
one of the following methods selected
at the option of Grove.
i. Furnishing a replacement Part or
Parts at its factory or nearest parts
depot at no cost to Distributor or ;
tj_,_JI ~_,.:; ~ l+.l.. C~I
~::i.,_! ~ ~ ..:.Li fi.. ~I wi=-
:i._;,y1 JjL..._,JI ..s..i:..H ~l~I JI E) Distributor shall keep Grove advised
J;.u......4 '-°'Jfe tj,,.JI ~ (.-
:uJY-" .>~! ...,........,. of the laws and regulations applicable .; ~ ~I ~I _,Jll J .,>.a.ii _,il4 We
to the transactions contemplated hereby ~~ W_,::..J1 ~l....Jl .)c.
in the Service Territory, including, ~ L... ~.l.:i...ll ~) ._.j .ii.JI 11'
~.l.! .;.,Lifi.. Jl .:.ifi.. ~ y - \ without limitation, applicable tariffs ~I 'i Ju.Ji J:,... .)c .!ll:i
._,.,..;.-.Jl .J.o Ji UJfe ~ .J.o and taxes on importation.
~ ~i i.°.JJ.l.i wlifi..11 t J Y..... c.r---k ...,.,..__;I.>-GllJ w~fil
Ji ' tj,,.Jl ._..le .Jl.....,U....)'1

ii. Paying the current cost to Distributor .jrS-Jl l:i,J 9WJ ~I t9J -Y F) All records and reports furnished to .>:UL.j::JIJ ~I JS .,.us:; (J
of such a part, or; Ji ' tj,,.Jl _)! Grove shall be in English. ~4 u J~ u-l! L...li..JI
111. Paying the reasonable cost to (~'/ A.1~1 ~I t9J-r' .~j4;'/I
Distributor of repairing the defective . tj,,.Jl .)) ~I ..;_,s..JI 11'
12. Warranty :
Part. :u~-\Y
A) Products sold by Grove shall be ~1..:.~1uJfe~(I
C) Distributor agrees that it will be Y. ufa. ui u-1c tj,,.Jl ~1Y- (__:;i.. warranted by Grove in the manner and
~I u-l!J ~_):.]4 ~
solely responsible for the cost of labor : J-!J ~ 01=- 'i_;,..... •.l:>.J to the extent provided in Exhibit C (--;o..)
~I ._,i "-:Ile. L>"" _,...u.JI
hereto. Prior to completing the sale of a ~ r-L..:;) J..,iJ . .ii.JI I~ ~.,;-JI
Product, Distributor shall deliver to
J..-:..c JS .)) tj,,.JI ~ FJ!
i. .
For Delivery Service, Inspection - . ..1.-.11
<1,__.o..i:..Jr-- ~.l.:i...l ~Li-\
. . each of its customers a copy of the then u~I 0-- o.Jy..o ...nL.c. 0--
applicable warranty appearing in
. and ;
Service and Warranty Service .ill.:iSJ' u~1~J~L.....J1 u-i A .s.lllJ .iliic <\../ J_,,_..]1
Exhibit C and shall secure the t.4-JI 0-- ~J' (-4) u.:&.11
ii. For installing a Part in place of a customer's written acknowledgment (in J _,___,.i. JS,.:. ..,i) .s!t.S J).1 .)c
defective Part, for which it is form satisfactory to Grove) of the ' u~I 11' ~4 ( '-°'J.»l
compensated by the sale of the receipt thereof and Distributor shall 11' Jt,....JH JWI ._,i t j_,.JI ~J
ro uct or y a payment receive .l,jJfe ! J.l'/1
under section 7E hereof. acknowledgment to Grove.

13. Patents and Marks : : ~~J ~l~IJiLl) -\ l"
A) Grove undertakes and agrees . to t'--..hll .)c ~IYJ UJfe ~(I
defend at its own expense all suits, JI L..;~1 J._...S wi=- I+!~ ._,le.
actions or proceedings brought against y_,;illl ..:.l~l~'/I Ji l.SJ~.l.11
Distributor or any customers for actual .sl JI tj_,_..ll ~ e;--JJi .;;JI
or alleged infringement of any letters r-~;,.. JI ~ ..!!~I Wt=- ~~
patent brought solely because or on tf! W"t....l .)c JI J~ •~I...>!
account of the sale or use of such '-'---""""..:.~Io~ rl~I JI
B) Distributor shall promptly provide ~ J\.-.:,...11 ._,i tj,,.JI r-~ (...,.,
Warranty Service on any Product which ·~ ~ .sl ~ w~I
Distributor deems to be the subject of c_,...._...... .t,JLb..J ~_,..Q,,... tj,,.JI
an allowable claim under the applicable ~J ·l.5.;L...11 0~1 ~,,...,. 4-:'
warranty. After completing such tj_,_.Jlj~ ~I.~ r-W!
service. Distributor may make claim uLS l.lJ '-°'J~ ~ t_,,.)1
~"J. against Grove it its warranty is uJ~ d.; ljJJ. ~.;t... w~I
applicable. If Grove determines that the JI L.!1S 4----i c,,.....,.. .t,Jl.b..JI wl
claim is allowable, in whole or in part, .s.;L..ll w~I ...,...,,.._,..,. y;_»
 Products as are constructed and used wl...i....l_,.Jl [4b ~l..i..U..1.J ~~
subsequent to the delivery of the .. u_,11 ~ ~i tJ>-11 ~1>.!J
~ .liwl)) Ji ..~1 "-:14 according to Grove's standard ~4ill L..;.J4-=JI w~I .JI
Product. Distributor further agrees to
~"-:!i._.-9~·._r...i.JI.:....:.. commercial designs or specifications. .u.J.,p.J
pay and discharge any and all
judgments or decrees which may be .b~ .,s-i_,.ili •'.?.-! } ._sy:.:. Ji
Grove further agrees to pay and "-:14 ,l.!_,JI u-k ~I u.JY.' ~lji
rendered against the defendants in any 04! Lu.,S l).b.! tjrll .,\..he.)
.1~)'1 Ji ...s~.i.ll Ji ~I discharge any and all judgments or ~ .J~ ..ii wlJ)} r~i
such suit, action or proceeding,
tj,_.11 .. ~) ~I .b~J decrees which may be rendered against .JI~ "---:!I~~ ..r-..i.JI
provided immediate notice of any
ul~)'IJ ~\SJI ~_,;...-...11 the defendants in any suit. action, or .b~ ~_,.;L__i ,I..?.-) .JI <..S.JC-J
such suit, action or proceeding is
0:i_. .:.r--' t l_i.i.ll ~ j...\SJI proceeding, provided immediate notice tS~ 4.J_,! l.Jlb.) W.Jfe ,\..he.I
given Distributor. and provided
. .,l.?.-'JI Jj ._sy:..i.ll Ji ~I o~ any such suit, action or proceeding is ~_,.;Li ..:..1 .. 1.?.-) .Ji t.>.JC-J .JI~
further. Distributor is given complete
given Grove, and provided further; ~I .b~.J' J-+..ill 1:i. 0-
charge and control of the defense of
Grove is given complete charge and ~\S.11 ~_,:._.......JI u .J...?.- ., \..he. I
such suit, action or proceeding.
control of the defense of such suit .~ ~ tL!.i.11 ~ J,.\SJI ul_r!.)'1~
action or proceeding. Distributo; .,l~)'I .Ji t.>_,_.c..i.ll .Ji ~I
B) Distributor is hereby granted a .l.-..kll I~ ~>"'"-! tj>-11 ~ (Y
undertakes and agrees to defend at its t.Lbll u-k ~1>.u tjrJI ~.J
nonexclusive right and license to use ~ .J~ y.i:- (::!~.J ~
own expense all suits, actions or .JI L:!~I J.__.S 0C "-!I....:.. u-1c
Grove's Marks for advertising, referring ~ u.J~ ..:..~ r1~'1
i 1.1 O.J~" I JI .: .c. .. "I~ '1.I proceedings brought against Grove or ~_,.;\ill wl~l~)'I .JI <..S.J~.i.ll
to or otherwise making known pro d ucts .J ..,..- ' ...,..- ~
which are marked with or identified by .Ji~ ..,:JI ..:.~4 ....A;~1
any affiliated company for actual or ~ y!. "-:!i .Ji u .Jfi' .i....;,. e»
..;JI
alleged infringement of any letters .JI ~ -!.l~) 0---C L.,.l ~\:j
any or all Grove's Marks and for ..:.L...)lc. j.--A ~ "-:14 ~
designating services performed by ~ ~ ..!LJ~J' UJfe
patent because or on account of: u--k .JI ~ -., 1 y ~../; e ,y:. _>.
. . d ~ ... II I.,,• •.II , L..k.JI : u-1:!L.. cYL..I
Distributor in connection with Pro ucts . t.J_,....
-.J:! ..s- '-'
marked with or identified by any or all ~ .JI ~~I ..:..~4 ~
of Grove's Marks, subject to the
· ·
. c-- WJfe w~:;,. ~
· UU!I .b · •11 'Le.I
"-:14
i. Any feature, construction or design ~ ~.). .JI ~6. "-:!I - '
following cond1t10ns. · - J..r- • Y'
other than Grove's standard .JI (JQl~I ~)~.Ji
c'l~l~t),..llt:0·:i~--'-~-~~---;c~o;mm:!!!:e~r~c1~·a~J~fi~e~alltur~e~.li<ll~~aJ{Jins..or--'-'-~J--.~:~·~cill-~
i. Distributor shall use Grove's Marks
~~ .J.» '-' esigns) incorporated at Distributor's ~ (u.J.,p.J ~4ill "-=1.J4-=JI·
---------~as~ic rarn-tmtyljn ori
~ L-4 JI "-....lb~ 'i) request in any Product purchased ._sl is----9 tJrll yl1 u-k ,~
connection with services of a quality
t/~l.J oJHI ..:.I~ ..:..~4 under this Agreement or incorporated JWI 1» ~>"'"-! .,;1_r!. ~ F
and character which comply with such
..:...l,i_,;...-...11 t--" ~ tS.lll by Grove to adapt such Products to the u.J~ ._,..;~ 0-- ~J ~.Ji
standards and requirements as may be
.JI .__.._ r.r-~11 w~.
I .. ·-~~ - l.J part"rcu I ar use o f Diistnibutor or any of ..:,1 ,;;.U .i.......t. ~ ~
fixed or approved by Grove and, for
cJ.-ily, .ill:lSJ • W.Jfe 1.A..W.U Distributor's customers, or: <.SI .JI tj_,_..ll (JQWI !'I~
the purpose of ascertaining whether
I~) L-.,..... JSbll <fa.fa - tj_,..ll .Ji ! tj_,..ll ~:Le 0-
the quality and character of such
u~I .:i. t"!U. JI oJp.. ..:..;IS
services rendered by Distributor
r~'J ~U... tjrll ~..,:JI ii. Any additions, changes or .JI wl~ .Ji wl.!W.) ~i -'I'
adhere to the provisions hereof,
i.;'J ~~'ii ~ - ..iWI I» adaptations made by Distributor or tSI .JI tj_,__...11 ~ r.fo. ..:...::y~
Distributor agrees that it will respond
~ J~ W.Jfi- 0- yl.b any of Distributor's customers .~l~.lo..!~04
to any request for information
 pertaining to such services from ·~ ~ L...,ii wL.._,!...JI
Grove within thirty (30) days of (r·) ~w~ .)wL..~1
111. Any and all displays or uses of
r'~
1 J ifa.J&- <.SI ~ -r receipt thereof . . ..,..llJI I j,. .;&lJ o- L. >.l
..:..L..l~)'IJ tfaJyJI ~J
Grove's Marks by Distributor shall
~4 0- UJ~ ..::...L..::Ml
comply with prov1S1ons and Grove through such representatives as .::..LiJ 'JI ~ _,i c....i J..r.-J iY-;J
._r;i1 ...:.i4Jl.:....11 J r~ t j_,..ll
requirements as Grove may specify it may designate shall have the right at ~I ~I ~ 0-- :i..lfa..11
.y..'J uiJ i.:;o UJfi> \A.l~
from time to time. all reasonable times to inspect any and ..>:!.;u:.11 ~ JI <.Si ~t...... ~
all reports and other documents ~~I ~~JJI i.>o ..ill.J ~J
iv. Distributor acknowledges the ~ ~ tj_,.JI ~ -£ relating to the quality of the services t4J -S.l:f> _;!I wl..~I o.lfe-!
validity of Grove's Marks. .UJfi> rendered and sold under the Grove ~IJ u J.fe' ..:..L.)l..c ~ ~
Marks which reports or other ul~) ~JI oj~.; .jfo
; ~I ,.~ tj_,..ll ~ -o
v. Distributor shall not threaten or documents are in the possession or ifa..>-L r.ll:. :i..16. .)J • tj_,.JI
e;I ~Y. ~_,;li .. 1y..) <..S4 ,.4iJ1 ~ ~LJ _,II J .):!.;L...1:.ll • .:i..
undertake any legal action based upon under the control of Distributor, and
..::...L-'.:Wl (..$~ )' .):!All rl~)
a claim that someone else's use of a in the event these reports and (r.) ~ w~ .; WJ..?.
Mark conflicts with or infringes any of
0---" <.SI~ J~
i.>a.;~
documents are not made available to ~~I ~Lh.JI ~.;l:i ~ t, Y.
~ e;I ~ UJfi" w~
.. ~) u_,__r.iJ iY-; ..>:!.Ju:.11 .~
Grove's Marks, but Distributor will Grove within a thirty (30) day period
-s~ ~I _,i UJ.fe' tj_,.JI
~J . J6.]I _,i ~_;.JI 1.JA
promptly call to Grove's attention any of the date of a written demand for
0--" '"'"i ~l+>il ; ~ u:a.;'W 0---:Ufii..ll u J.fe' ~ 1....:.:.,!I
conflict with or infringement of any of such reports, Grove shall have the
u-'J ~ .li UJ.fe' w~
J._...c. j.......SI JA L......l:!t...... J J_p.J
Grove's Marks which comes to . .we right to terminate this license
Distributor's attention. forthwith. Said Grove representatives ..::...LJJ'Jl ~ __.i tj_,.........JI
~I ..:..~1 ~J ~_,i....JI
vi. Distributor has no right to grant any ~ ~) tJ_,_.Jl ~ 'i -i shall also have the right to enter and
r'...>Ll) ~ ~ t j_,.JI 4-:!~Y.
sublicense, except with the written ~1~ 'i! wl:-411 i.>o ~Y inspect at any and all reasonable times . .fu..ll 1.JA ..bJ~ tj_,.JI
consent of Grove's and Distributor ~J • UJ..>-4 i.)_..A ~U$ all of Distributor's places of business
shall not supply any of its customers ~ o- (.5i .ll.i..) i::P tj_,.JI and to examine the services rendered
with copies of any of the Grove Marks UJfi> uL.'J.r. o- <.SI i.>o ~ by Distributor to verify Distributor's
---------~~o~r~~~~~~~~~t~~~n~an~d~~E1i*~'~w~IE)~~;.;'~··;~t1~~;·~~;·~·---~~L--~oom~an~with~re~~wbof
use by the customer and Distributor ~1>.!J' llis-Ag-reeme11t-------------------------+-
agrees to make known to customers I~! ..::L--11 U..6.J ~ tj_,.Jl ii. Distributor shall not use any of <.SI rl~I tj_,.Jl ._,.le. _;.b.,i -Y
~l... L.-Jc. o.;J · ·-11 i.::...;Aiil
when the situation arises t~at "' ..r- Grove's Marks as part of the corporate r--'" )'I ~ -....i J.fe' wt...:lk. 0--
customers cannot use any of the Grove ~ i.>- (.5i r1~l ~'J or business name of Distributor, and 'tJ_,.........ll -s.;4-=JI ) ..;.;~)'I
Marks to promote the business of the • ~1 J.-.1 (!"'.J.Jill UJfi" will not use a mark identical with or ~l r1~! ,:.,F- tj_,.JI FJ
customer and that any such use ~1 lj,. ~ r1~l <.SI e;lu confusingly similar to any of the ~ ~~ _,l ~Ua.. ..:..t...:lk.
constitutes an unauthorized use of the ~ ~JA .J#- L..l~l ~ Grove Marks except-as permitted by ..::...L::J.r. i.>o <.SI l>HJ ~ ~
Grove Marks. · UJfi" ..::...L..::A..J the license herein granted. ~ (_,.....- JA ~ 'i) WJ.fe'
..,....--i c_,u.JI ~_;.JI ~>"!
vii. It is understood by Distributor that _,i ~~\....~I tj_,.JI ~ -v . .lb.ll I~
nothing herein shall give to ~JI~ I.SI~ .li..111~
 management personnel of Distributor
without Grove's written consent or if
Distributor shall fail to perform or
observe any other term of this
Agreement provided that Distributor
does not cure such failure within such
30 day period.
C. This Agreement shall terminate
automatically if a petition in bankruptcy
is filed by or against Distributor, or if
any action is taken by or against
Distributor under any Jaw the purpose
or effect of which is or may be to
relieve Distributor in any manner from
any of its debts, or to extend the time of
payment thereof, or if Distributor
makes an assignment for the benefit of
creditors or makes any conveyance of
any of its property which in the opinion
of Grove may be to the detriment of
Distributor's creditors; or if a receiver
or trustee is appointed with authority to
take possession of Distributor's
property or any part thereof.
-------~t8flding-t~rminatton f-this
Agreement, all terms and conditions of
this Agreement shall continue to apply to
any Product, Parts, and special services
purchased by Distributor from Grove
either before or after such termination. In
addition, all provisions hereof which
relate to rights and obligations upon or
following termination shall survive any
such termination.
.ll->--91 r!~ _,I tJ_,.JI ~ ..,.! Distributor any right, title or interest wL...)l.:. u.-... -.si u-9 ~Ji
4!l:>S A.i91_,.. 0.J-l! ~.)1 ....:i_;l.lJ in any of Grove's Marks (except the .-1~) ~ I.le ~) u J.>?-
tJ_,_.JI <.J"Cli:i ljJ _,I c.....i_,y,- 0- right to use the Grove Marks in 1~ .l_,l,J ~ ._jJ..» ..:.i...)k.
..,.! y.1 ~LSI >U:.1y _,I ~ LF- accordance with the terms of this ._j J~ wl..~ .) J • ( .:WI
tJ_,_.JI ~~ ~1 .by!.i .li..11 1~ Agreement), that the Grove Marks are ~
LA.i.:..J w_,~ ..!11.. ._r
.i.....A. >fa 0.,.:..C. ._,.! <.J"Cl.ii.!1 1~ the sole property of Grove and its LllS .:_,i_, , \.e..1-'.....;WI ..:.ts_>.!JI J
.L...J:! ~1 affiliated companies, and that any and 1.::.L ....)W tJ_,_Jl wL.1~.1
all uses by Distributor of the Grove w_,~ ~ ...>~ wJ.>?-
-".16. u-' Lµl:il;
_ .lW1 I~ ~
.~ -__,.. Marks shall inure to the benefit of . -'....;WI ..:.ts _>.!JI J
_,I tJ_,_.}1 L>" ~! LSY:...l e;:!.J Grove and its affiliated companies.
LS~.:i <.SI e;:!.J -"JI.:.. ..,.! _,1 ·~
<.SI ~>"-! ·~ _,1 tJ_,.Jl L>" In the event of termination of this ~~I I~ ~l+l! .U6. ._,..!
IA.J~l L>" _,I ~..P 0fo. 0_,.;U Agreement, any and all authorization .:iL....:ic. ! _,I u-">-:1_,i:i .s I ~lit
LS~ tJ_,..}1 .. u.:.J u-1! <..>.l:fJ .li _,I or approval for the use, in whole or in <.SY ~
1(11
J ..r~
I (' • ,_'I I~
..l......A3 _,I ' .;__;.J:!.l L>" LSI L>" ~ part, of any of Grove's Marks shall ('~J . u J..>---'1> ..:,L.)lc .)A
·?LJ 1~)) ' ~1 ~b .ll.l.ul d_, automatically terminate. Distributor J,.....S ~ .L.u _;.,i tJ_,...ll
_,I ~1.l....J1 cJU Jj~ tJ~1 shall thereupon promptly delete all .:i......... .. 1~1_, .....;_,.>?- ..:.L.)k.
.LJ ~ ....:il.S.t.... U..o <..>1 ~ Ji1! Grove's Marks and parts thereof from ~1 i:fit._."JI ~ _;... ..:,IA)WI
~1.1......! .__._,..>----?-LSI..!~~ all places where used by Distributor w.....i~J' tJ_,..}I ~Lt--~
r..>".JL...;,. ~ f' 1~! _,I ' tJ_,..}1 and shall completely discontinue all . 4-J ?l.lii.......) ._sl j-...L L.W
_I..,·. tbL...
r- J..,;... .~·
.r+:: .,.- _,
.1.
_,
_j~
...,.... use thereof. Thereafter Distributor ~ ~ .!lJj ~ tJ_,..}1 ~J
<-.fe LSI _,I tJ_,..}1 ..::..tst.... 0J4=>-
shall not use in relation to any c'1~J .:.;s:. "'-!I"~ Ji J...c. ...s4
· 4l.o business in which Distributor may ~_,I ..,...il _,i ,.....) _,I~ .;i
engage any word, name, title or _,1 u J~ ..::.,L.)lc .)A ._.i ~
expression which so resembles any of ~! LS.:i Y. 01 ~ l+l.o .. fi.
Grove's Marks, or part thereof. as ta 4L!. ~ ~ ~'.)
~~~ e likely to lead to confusion or
11......A .b_,~_, .:ifa. 04.J.. _,...:......,i uncertainty.
..::..u_:,s.. _,\ ~ LSI u-1c. .li..11
~1y!.i tJ_,..}1 ?U ~b. ..::..~_, 14. Termination : ~L..-f..11 - 't
.1~ .l........a.! _,I ~ L..) u_,y,- tJ..o A. Either party may terminate this I» .. ~) (J.}!.)J1 L>" -.sY j~ - I
~ ~ .!ill u-1c ;. .J.k.J ..l+l)'1 Agreement by giving the other party 90 1.J~) _?.YI u.)JI .. lkJ..! .:ii.JI
JS 04..>"' ~1 1~ L>" .. \.+.l) <.SI days' written notice. .L...J:! , ... ) ~ .u.i.. ~t;S
·-~-it.. ~<1-'. t.J JW1 1~
'-'_,........ . . (' ~I
... \.+.l)'1 .la-! _,1 ~ ..::..L..ljil'i1_, B. Grove may terminate this Agreement ..1-..i...ll I~ .. l+l! .....;_,_;.;-.] j~ -...,_,
upon 30 days written notice if there is a ~ .....::u.. -r.t:>S .Jl.k.! .. lkJ.!
change in the ownership or key ~ .!.i_,.i.:.. "JI.:.. i.) l...J:! (r ·)
 may be cancelled at the option of )-~1 ~ LA_;WJ j~
Grove, and Grove may at its option ...,...__..._ u_,~ j~_, •LI-'fe E. If this Agreement is terminated by 0--o .L...i..ll 1.:V. c. lt-i! ~h ..) - _.
repurchase from Distributor, and 0-- ~ .>- c.S fo ul IA .J~J Grove, all unshipped orders not J-S Wlil:i u-AL ....;_,-» ..,_.;1..;-
Distributor shall thereupon sell to u-lc- .. ~ t j_,.JI J:iil_, ' t j_,.JI previously accepted by Grove, or - I ·.11 ~ • _I ~II ..:..l..Jl..!1
llS"'-' ~·~ ..
Grove. any Products and Parts ..,1,....;_,~~!~ul..ill:.i accepted by it but not sold by ~ s l+J.:aj ~I _,I , u -'-» Lt.4i:i
theretofore purchased from Grove and tj_,..11 lAly.!.I ul.i_,s... _,I u~ Distributor prior to knowledge of such I~ rWI i..4i ~ tj_,..ll ~ rJ
not sold by Distributor which Grove ~ r!-' u -'Ji"' o- ~).:JI ..ill:.i Ji.S termination, shall be automatically ~ 0-- u JY."' c.S fo _, , o l,.i)' I
may specify . In the event of such u--9-'. u_,Y."' ~ ~ ~ cancelled, and Grove shall repurchase J._S' ..ill:.)~ c.S:i.11 'tj_,..ll..;..
termination, whether or not·Grove has uL.S. .,1_,_... , .,1+--J)'I 1.:V. 'Jh from Distributor, and Distributor shall lAly.........!.1 ~I ul.i_,s.JIs u~I
yet exercised its purchase option, Grove rl .. 1~1 ~ ...:....,.).. .i.S u_,-» sell to Grove, all Products and Parts u _,Y."' iJ.o ~.JWI ..ill:.i j,.i t j_,.Jl
shall have the right at any time during ..,1 u--9 ....;_,~ ~ ' .......;1•.; rl theretofore purchased by Distributor ~I_,' ~ tj_,..ll r£: rJ ~IJ
business hours following the issuance .i.........i J.--.)1 u"'L..... ~ ui _, from Grove which have not been sold ..:.1.l .A_,
....;_,Y."' c.SI.) li,J:. wfo
of a notice of termination hereunder or 1:i.... ..,...,..~ .. l,.i)'4 .Jl.l.u! Jl. .....J by Distributor and in the sole judgment ._»-i:._, ·~-' ~A ~
the occurrence of termination under ~~ c.l,.i)'I <!.~_,I, ~I of Grove are of current design, new, ....
~ n ~Li . ~h ..s9-' .u.w.....
·
section 14C hereof to enter upon the .l......i.ll li....A r..)-o (~) ' f ~I unused and in saleable condition.
premises at which Products and Parts :.:,..jJ .i.9 _,I :.:,..jJ c.S.lll .JlWI Jp.i
subject to such option are or may be ~ ul.i_,s...11 _, ..:.~I o.:V. ~
Grove shall have the right at any time
located and to inspect such Products ..:..L__;,.:"..WI o.:V. ~la..._, ,~I 1.:V.
during business hours following the
and Parts and verify Distributor's .i~ ~~I_, , ul.i_,s...11_,
issuance of a notice of termination
inventory count thereof. . ltJ tj_,..11
hereunder to enter upon the premises at
which Products and Parts subject to
G. All Products and Parts repurchased by ~ JWI ~ tj_,.JI r~ - j repurchase are or may be located and to
Grove pursuant to section 14F hereof ~I ..:..uµ_, ~I JS inspect such Products and Parts and
shall be immediately shipped by ~~ ~ 0-- u_,.» l+:ifo verify Distributor's inventory count
Distributor, F.O.B. Distributor's place .;t---1> 1.i,i rW - (J) 'f ~1 thereof, For purposes of this section no
of business, to any destination - tJ_,..11 J..c. fa .. 4-- ' ~1 Product or Part shall be deemed to have
_______ _;dQ!e~sli,i
&Jn[llaU,te!:,!dL_b~_;GQ.uro~v!!:e:......~an~~..al~-....:.lA.l~W'~._.:::!·~~lA~.l..l:l..l~-~-~~~~1~~1 ----i----~~':-~old by
Di'strlliu or ess . 59.i ....;_,..» isl! tj_,..ll
inspection and acceptance by Grove at u _,.>-'!' ~I+ 0-- J~I s ~t....JI Distributor submits to Grove evidence ..!L.l.l c_,i ~) ~I 1.l. rW.1 .)c.
such destination and after any necessary I.SI "'..>-+! ~-'' ~1 •» ~ satisfactory to it of such sale (including ~ .::l-.ll ...:..~ 0-- • .)~
reconditioning, Distributor shall be ~ ..:...~ ~)l.... ~ •.i"') copies of the pertinent customers orders .(..:..4,iUJI •.ltJ tJ_,.JI J.."'9_,
credited as follows : :~ L. tJ_,..11 yL-J and Distributor's acceptance thereof)

i. For Products: The price paid by ~I:~~-' F. If this Agreement is terminated by 0- .L...i..ll 1.l. ~lt-i! ~ .,.i - J
Distributor exclusive of all insurance, J_S I.le. \.4 tj_,..11 iJ.o t_,i.i..11 Distributor or is terminated L.,ilili ~! _,i tJ_,..11 ~4-
freight and other charges and less all L.J_,__.J _,;11 _, i.J:!.oWll LI:!.J~ automatically by operation of section li....A ~(d 'f ~' ~>"'!
discounts allowed, but not more than uL.~I JS c.>1> .l1! ~-' I 4C hereof, all unshipped orders ~ r! ~I ...:..~ JS u.li ,.ii..11
Grove's current prices in effect at the J_,~ 'ii ~ 4-1 c.,........i' (whether previously accepted or not) (Y rl 4-J~ ,..._.:. .1_,..) ~
 Distributor to Grove, paying any ..si ~.lJ, u_,_r.o. ~) f:j_,..ll .» time of termination . w_,._.>-;J ~b..11 ).-....'JI ~I
balance, when finally determined, to u---3! ~t.e-; .tll~ .JA Lo.lie. J.) ... t.e-;)'1 ..:..;_, ~ J_,_..JI
Distributor. ·f:j_,..ll
ii. For Parts: Grove's current price in ~I : ..:..L.;_,s....u ~4 -Y
15. Limitation on Grove's Liability : :u.J..P.- 4.,._.. ~ - 1 o effect at the time oftennination. d_, ~ J_,_...JI wJ_p,.l ~WI
A) All transactions by Grove under this ...,....;~ i.)A ..::LJL.i.A..JI JS y\.r. - i . <-!+i)'I
Agreement and all orders accepted J..-SJ , .lWI 1.:i. u_,_r.o.
~>41

hereunder by Grove are subject to ~ >4! u J..>? ~ .;>JI ..::.i4:J.bll H. Promptly upon termination, <-l...J.i f:j_,_...ll F- .. t.e-;)'1 .;j -c
strikes, labor. disputes, lockouts, ..:..L....cl_;:JI_, ..::.41y.0)'4 .lWI 1.l.i. Distributor, at Grove's request, shall Li~ u_,_r.o. u-1) WJ_» ..,..J..b ~
accidents, fires, delays in manufacture .)~ '! til.......JI (Y.i:.! J 9Lu.ll deliver to Grove a statement reporting y,_;i:i _p.i ~.;l:i i.J.4 wl..y.,..JI ~
or in transportation or delivery of ' ~ .b_,~ ~ JL-JI sales from the date of Distributor's last 0-o \ \ ~ ~ f:j_,..ll J.!L...
materials; floods, severe weather or , ~l~l_,, 6..il~I_, previous sales report pursuant to section ' <-l...+J)'I ~_;Li ~ .lWI 1.:i.
other acts of God, embargoes, _,i J.__i; _,I c L...:.;) ~ ..:..1 y,:..t:;.11 s 11 hereof to the date of termination and J.__S w J..)--"!o u--1) ~ .tll.lSJ
governmental actions or any other cause .,. _,..._.,.J wl.il....<.:iJIJ , .ll _,.JI ~ also shall deliver to Grove all catalogs, ~J ..::.1~1_, ..:..~_,Jt.Sll
beyond the reasonable control of Grove ~ w.ll_,,. ~I _,I .~_p.JI Jl_,,.\'1 bulletins; service instruction books •_;bYI ~l_,5_,, ~I w~ji
whether similar to, or different from, u">_r! Ji , .;.lillJ e- Lo.ill w.ll_,,.. Price Lists, technical referenc~ .ll_,_...11_,, 4-,.ui]I ~lyJI ~I_,
the causes above enumerated, and _,i ~_,hjl wt.iy.4JI Ji _;h,JI manuals, advertising and Product ' ~~Ji.A.JI .ll_,.JIJ ~)'I
Grove shall not be liable to Distributor o..>4---JI UC cfa. _p.i ....,.,.,.... ..si support material, prospect and ~l_,__j_, ~I u;4jll ~l_,5_,
for any damages arising from Grove's Ji~ ulS <-I_,.... w _,_p,J .Ufa-JI ownership lists, service history folders ~.;Li y,.;l...iJ J <.:.Lil.. J , .4..p.WI
delay in delivery or failure to deliver as o.;_,...._.si.ll y4o-\'I ~ ~ _,i and records and any other documentary cJ...-1.:u ~~J .ll _,... ..sl J , ~~I
a result of any such cause. .UJi-....... WJJ? .:_,fo 'iJ, .~i material relating to Products and Parts _,i ~'-! _,i ul.i_,s..JI_, ..::.i~4
) y.0i ~I uc t j_,..ll ~I_,... .) or to the sale, operation, servicing or J_,_,...:; _,i ~~I _,l ~I
~I ~ w_,_r.o. _p..i:; UC ~ Grove financing thereof. Grove shall yl......,J w J..)? ~ J . .tllil w J..)?
~ ~ tj'i 4iU ~I ?'j&,. _,i credit Distributor for all such materials ~) w......JI .llrJI •.:i,. JS f:j_,...ll
. c..4!iJI 1.:i. delivered to Grove at the price, if any, t j_,_...11 -uj.) ..sill ~ w J..)?
Distributor paid Grove. li....A .)J--'?>J .U6.
8) Grove shall not be liable to ?'L.....I .U_,L........ u_,..>? ufo 'i -y
--------n~1s::'if=n:t::b':":ur-to:::r:-
or any amages or oss •.J
. J .; fa ..s UC f:j_,..ll . _;-..JI
arising out of or in connection with the li....A <-4--ll-! ~l...:!i _,I uc ~ I. Termination of this Agreement shall ..sl .l.....i...ll li....A .. 4) ~ 'i -.b
termination of this Agreement pursuant , .lWI 1.:i. c..J.e \ £ ~ ~ .lWI not release either party from the ""--! ~ ~ ..sl t-9.) i.J.4 u_;b
to Section 14 hereof and shall not be ..sl ~.) ~ .uy.._.,..,. ufo 'i J payment of any sum then or thereafter . _?YI w_;h!J .!lJ.) ~ _,i .l;.l.ic
1 iable to pay any indemnity to I~~ l...,/i f:j_,.JI ~) <.>4!_,.:i owing to the other. Grove may at its 4J ..s<-lfa. ~ u_,_p,J jYHJ
Distributor in respect of such ~ d~ uc ulS .,1_,... .. t.e-;'fl option apply any sums due, or to ~ _,l ~ t-14-- ..sl c.)Ui 01
termination whether for loss of ..::.i~ •.;L...:.. _,I ~ J_,...L. become due, from it to Distributor to ..sl ~ ~ f:J_,..ll l+l.o ~
prospective profits or anticipated sales ....,_ ~ JI J...JJ y,_,l:.j _,I W fa the payment of any sums, accounts, or u\........l)ill JI ..::.4L.- _,I t-14
or development of the business or _,I ..::.L....iJ~I ~_,I .. ~1 obligations (whether or not contingent .,1_,...._, , 'i ?'l ~)b ..:..u!S .,1_,...)
clientele or on account of expenditures, _,I ..::.1}---~-/·JI_,I ..:...l.;W:..-.'/1 and whether or not matured) which are ~ ( 'i <'i ~I ..fu.:i....... w;\S
investments, leases, property ..::.iL.....lj:>l)'I _,I w~I ~ due, or which may become due, from <l.b.:i........ ~ _,I l+ilh:....1 .le._,...
 Distributor pursuant hereto or in • .l........WI 11. ~>"! tj_,..JI ...,..;~ Improvements or commitments in tSY .Ji tj_,..._.JI ~~._..:ill
anticipation hereof shall be at ..i..__i.,JI 11. ..;,... ~Wji .)c. ~~ JI connection with Distributor's business ·
Distributor's own expense. . O.l..>..J tj__,..11 y~ .)c. cJfo. .y..1~
or for any other reason or cause .

D. No waiver by either party of any term w~ 1.5i L>-< JjlL 1.51 ~ 'i -.i
C. Under no circumstances shall Grove ~ ~_,:....... u.J.» _;_,s.:; 'J -~
hereof or of any breach of any term ~I~ .Ji ..i.i.JI 11' ~ ~tSi ~ be liable for Distributor's loss of profits tj_,_..JI •.JL.....:i. .J-.c. __.. _); ..si
hereof shall constitute a waiver of any 'i J.-..L ..i.i.JI 11. ~ ~ J'i .Wl..M
or for any indirect incidental or _»-i:. )~i -.si .» Ji c4./i
such term or any such breach in any li........a. ~ ~ .Ji .u,.)1 I~ .:_;&. consequential damages arising out ofor ~ ~ ~'i .Ji ~..;.c •Y:4--
other case, whether prior or subsequent. w;l.S. ~I_,.... tS y..1 4.16. ~I ~ .u,.11
in connection with the transactions ~_;:;.JI ~lA..J4 ~~.JI
. .i.h'J} ~L.... contemplated hereby. . .ii...ll 11' ~ >4!

E. This Agreement cannot be modified or 1:i...__. ~.Ji .);!~ ~ 'i -_A 16. Miscellaneous : : ..::..i..~ _,,
amended except by agreement in .>-o t-i>" ..r.~ Jli:il-? 'i) ..i.i.JI A. This Agreement is the entire ~ .L.k.ll J._S >-4 .fu..11 11' -i
writing signed by duly authorized ~~fa~_,i.Jl~I agreement between the parties with
representatives of each of the parties. . ~_)JI ~ 0-o
"'-L .,..a>4! ~ ~ wt _;.1 '11
respect to its subject matter and .JI ~_,;s..JI ...::..Uw'JI JS ~.J
supersedes all prior written or oral . .U~t...Jl~I
F. All notices hereunder shall be in 1.l........A ~~ ...::..l).h"-)'I JS f{> - j agreements.
writing and shall be delivered by ~I J,!y.14 ~.J 4-1~ .li..11
Registered mail, postage prepaid, to the ..,....l! \.i+uw .l,!y.11 ....i:!.J~ ti.) ~ B. This Agreement shall be binding tS->---'"':!rL.jl.. ..i.i.JI 11. ..:.ifo. -...,..
parties at their addresses set forth ~_,..JI ~.JI.:£ ~ wl_;.1 y1 upon, and inure to the benefit of, the ~.>.1 0-<J ul.):.YI - ~
below: old
parties and their respective heirs, 'i ~I ~ 1~ ~. ... 11 UY.)· .1 ·t.w• .J ~.J
.. ;1".
successors and assigns; provided, t j_,_.JI c_5_,...__b.. o= Jju.!1 ~
- Grove Cranes Limited however, .that Distributor's rights •~_).;..Ji l;JS, ..i.&.JI 11' ~JA!
hereunder cannot be assigned, in whole ~ •~4-- .ffe .Ji •~4-- c.Y-~
- Distributor or in part, directly or indirectly, by uylill ~~ ~1_,... tj_,...11 ...,_..;~
~~~~~~~~-·~·-~--~··~
.. ~·~-·~
.... ~···~-·~··~
.. ~···~-·~··~··~-·~···~··~~~~~~~~·..~..~~··-·~···~
·~··~···~
.. ~···~..~··~···~··~···~··~···~··~~~-J~~~~D~is~t~ri~b~ut:o~r~b:-'-:o:::=e~ra:t1=·o~~~~:_u.i:....~r-~~-:':'~·"'f:S'~~~,~i~
otherwise, to any person, firm or ~ ~~ ~1_,.. cJ.J~ ..,>.Jl+ic-1
G. The provisions of this Agreement are corporation without the prior written .w.J.»..;,...
severable, and the invalidity or consent of Grove.
unenforceability of any provision hereof
shall not affect the validity or C. The relationships between the parties ~ >"! ul.):. y 1 0:-1 .:..lDl...11 - ~
enforceability of any other provision established hereby are solely those of JJL....iJI .:..~ ..bii i..s"' .ii...ll 11'
hereof. independent contractor, vendor and L...J . -.sfa.Wl.J ~4Jl.J, Ji:i.,....JI

H. Section headings are employed herein ~ ~4-11 c.Y.JWI ~ -1.

vendee. Nothing contained herein shall tJ~I ~ ..i.&.J~ 11. ~er.:. 0-o
constitute Distributor an agent of Grove ~ L..J . u4 ..Ji:. (..S 'J ......;.J_r.>J )4S J
for convenience only and shall not be l+--:il! t~.;ll ~ .ii...ll 11. ~ for any purpose. Unless otherwise ~I 11. ~ ~.>'""" e,><>-i ~ .l.):1 .1
considered in the construction or .JI ..»-...&:i ~ !+:I! ~ 'i .J ..bd expressly provided herein, all action by u- w.>-Ai cs I wJ..i .!ll.il t.i:h

I 1
 enforcement hereof
. .li.JI I :i. ~

I. This Agreement shall be construed and

L:l! J ~J .i_i,J1 11' ~ - ...s
enforced pursuant to the laws of the , ~Iii ,;,. L.W_,;,...,S 0--.,i.il_,iJ
Commonwealth of Pennsylvania,
~..)AYI o~I ul/i_,l4
United States of America.

IN WITNESS WHEREOF,the parties

1u ul.__j..>1J1 _;.;:. l".iiJ w L;~!
have executed this 8th. day of September,
I '\A. ~A('.>--=~ .li.JI
1980 this Agreement to become effective
r~ U..- l_;l.,Uc_l J,,..i.JI itt.; ~
the 8th day of September, 1980
.l'\A,~A

~l;JI J ,en,,
GROVE CRANES LIMITED U:wj)u •.i~t <...AJ..?.- ".Sy:. .:JC-
----+i..-..-- By
Title:
. ············································
.
..,
. ... . . ..... . . .. . . . . .. . . . . . . . . . . . : f'--4"
:~_,JI
'i I

A. B. C. Company
UA.!i~I~ (DISTRIBUTOR)
• l.S""" • u-! . "-!,I "-5_;.:.
( tj_,.JI )
o-
By : . ............ . 'jl
~l)ii:ILll fi.;l.N ialai"r""'L, Title: .
. . . . . . . . . .. . .. . .. . .. . . . . . .. . . . . . .. . : '"--46 _,JI
 JgUl~I

D.l,J!lll pl~L, ~Jlll ~ ~

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...,........le ~.ii.JI ~..by!. JL;...i) U. ~I ..>- ufo. ~.JJ . t_,..;.,_,..ll 1.i4 C;A simple license ~1 ~_;....JI :L..A !~y_.JI .J>"'° .J-o .Ju.Jy.-o .!JU.J
. or-1..;:Jl l...>4~ ~) w.i.:.. l.i) ~_,;......~I ..>-licensor ~_>JI r.lic.! A..cl..k._...4 .Jfo. ,) ~1 ~Jll4 ~J •exclusive license ..s~I ~JlllJ
L....i • LJ""~\71 0--4 .iJc.. ...s"i t'fo'il J)LLi.....4 ...sY.i ~1_;, ~ or.1..;:Jl ~L..o.
...-Jc Jli:i'illicensor and licensee o ~_.>JIJ ~~I 0,!i.)Jl j.YH -o .JL.S .J)J t1fo'i1 .J)l;U.....4 y,a.li ~_;. LJi or.1...r.Jl ...,.,.,,.L....J ~ )U u~l ~jlll
!~y.......ll ~ ~>"'! ~_,,..... ~~ t..i,&.:.. t.S\ JI.hi Ji ' ~jlll Jlhi . (Y).illj ~
..r-1~ .v-;;.>,, ("'.lL.. ti y:>o
•.'JI J)LU..I (_)"""!
• ~ J:..fu..,
•
. ctu)'l .l~IJ ~1 u-1:- ~jlll ~JI~) .l_,,.i ua.) j>'H <\ji ~
~ Ji.--Jl .lie ~ (.,)""~ 9! .Jt.:.....11 0_,;w1 ..) L~ r~i ~i .!JU. u...,JJ
1.i) L....J imporvements ..:..~1 ~W ._)WI .u&ll 'iJ uytill J~ i-J -1 ~1 ..._.WI ts.l4-J.I ~_;JI f'~I ~ ..!l.Ul_,, ...i ._...;_,;till ~I_, or.l...r.Jl f'1.i..:..:.....4
: ..:.UlS J)l..U.........4 ~,;.....JI .l_,__ic. 0-- ~I ~ ..) f'~J . ._....i.i...ll .,Jylill I.iiJ .i ,,WI µ
~1 JlS.._...:.\ i.>o .ill.i y,e.J, ( c.Jl·~'..) ~ ufoL.. 41u:. .;.11) tlfo'JI ..:..1,.1y
. ~_;-i ~y .l_,;.c. c"ly) 0,!i,.>hll ..>- t.SY ~ t,Sy.a.JI uytill ~>'"!J . ~I

~ t1 tfi!J ...i or.ly, cs1c J~ yll. ~ f' t'fo4 ~jlll AJb...) -'I
. ar.1..;:JI ..::.w:.i.) 1.i) Jb4J f:.'i ~_;JI .J4ic! ~I..>-' or.l...r.JI ~ - Michael H. Davies, op. cit., p. 226 (')

- Michael H. Davies, op. cit., pp. 231 - 232

,)-....:OJ , patent validity ;. .. 1y,-11 ~ 0t..._..;,,. 0L.....;.J4 !"1y.._.J)11 J....!.;J
~_>..11 u-1! ~_;..JI~) ..A'i j)' guarantee against disturbance ._;.:.pl
, legally valid L_,.;li ~ ;... 1_>-'11 .~ 0fo ,) ~ W)J tlfo'il j,._. c. .. 1_>-'11 ...i
;. .. 1 y,---JI ~l...A .) .. l+Ull ~ <..S Y.J . ~1 J ¥_,....:.._,..JI ~1 y4'-ii ..)A ~~ J
c"j..-1,i ;. .. 1_»-...11 ~L-...:> .jl .jJ_?i <.SY.~, y~I JS..;... s.. 1_>-'11 _,h .j~ c"jl.
. "'-!.;~'ii JI t1fo'il J)la:j....l .Jl.S::.:..1 ~ - I
1j1 ~I ..:i~ !".fa.'i ~J .hii latent defects ~I y~l o- > .. 1_>-'11 _,h ..:i~
. 4--l.c Jjl..llll JI ;..,1y,i1 l.JA.J ~ -...,.,
~ ~'i ;... 1_»-...11 ~l...A 0i LJ"4c ~.;~.i.11 ....SY.J. apparent 1.JAl..h ,)l.S . ; .. I y,ll J)la:j....4 _;:ill ~_>JI '""" - ---;.
.l'l.fu.11 ~ .illj ..bA <"1t... ;. .. 1_>-'11
<..S.l.....illl t..l--!li..Jl ~ c... ly,ll ~l...A'""" jS.fa. , c. .. ly,ll l·~•4 ~_>JI .l_,ic ~J
non-contestation 'L...cju.Jl ~ ..b~' .fu.11 ~ ~! ~yJl 4 L. 4Jli:.J ... 1~1 ~L....:. ..bA .li L.S ' c4.JY1 c)A ~l....A ~ 0fa o.ll..:. <..S:i!IJ ' ~ ~I
0 .. 1_>-'11 ~ ~ ~ju.JI ~ ~_>JI .lie ~ ...i ~y.!1 ~ .ill~ ~J ' clause 01 ~J ~1 .ill.) -1.l ~yJI jJl_;.:j 1.)!-9, ~ F Jiti. ~ ct:l.i'il c)A I~ 1_;.li
/;....JI ..bli..-..) ..)c \iU'.il ..l:.~11~ ~' ~1 ~J .~1 ~).:. ..:,CJi ~ .. 1_,... ~4fil 0~ ~_.>.!.~~_>JI .lie~ w.l:>. L. .illj ~-'. JilWI ~ .)c.t....:.:ii
.:.N Ji.Li ..1:.~1 1~ u! ...sJ~ ...:.i.,a.- .;..¢.i.11 <..SY.J -~ 0~ ... 1_>-'11 ~l...A %\. IA).l......i..C.Jt.) opYI e}SJ 01 ~ .fu.11 ~~'~.A.JI ·~YI ct:l.i) .(S_.>.!.J
o.lL..ll ~ e;-- tfo)~ L.,ii >.,1_>-'11 ~ ~'""" o- ·~ Jj~ -1.l ~_;..JI o.;.i.....i r...>4:!y.'.j) ~W.) ~fa:. U:--.) (::" • '0~' o .. ly,ll ~l...A ~~1 w~ ..JC
J.:i..11, W..-.. <..Sj JS} <..SI, 01..:. <..Sj JS}·~ <..S~l tlfo'il ...:.i1.. 1.>1 0_,.;li..;... \ r- . (Y)~ o, IAJ.ii..J ~~1 ~I LJ&. ..l,!y ~I w~l JS LJ&. (%r' •)
.1:.y!JI 1~ ~~ .li_, _(•)~~ ..)c JU'.i'il j.YH'i yl ~ .JAJ, ;... 1_>-'11 Jlh!) ~ ~
.. L.....;..il1 ~! .. ~1 ..;... ...i ~y.11 ~ .illjJ ... 1_>-'11 ~ ...i ~y.11 wlfal ~
.... 1y,i1~~
. .illj ~ <"1 l:i) <..S)'*)'I ~_>JI ~fa:. U:--.) (::" ... 1~ ~) o.;J.fa -I
i".l.-..J:. ~ ~J , tfopl 0~ ~_;..JI !"fo. • o<-ly,ll ~ ~) ~W.)'4J o-1...A .l.l....-"";! r-1 lj)J , ~1 ~I ~) ~I ~_,;.JI !"_,.._)1 ~ 01 -y
tfo_,_.:ill IL-.\ 0lS .. 1_,.., >.. ly,ll J)la:j....l ~ -1.l ~~ ~ >.. ly,ll ~l...A tfoy.:i ·.J~ ~ ~ J.4... .. I.he.) ~ ; .. ly,ll .. W) fi:! !"_,...)1
..,.o_,_.:ill ~ ~ y.11 ~ .illjS J . ~_,.;ti ..,..,...... ._,le. 4i!A w._,..:; JI 4.lt... w._,..:;
. (~) y,a.11 o- <..S.lWI tfo.;a:JI ~'j ~ ~_,.;li ~ .)c 4i!A 0lS lj) ~1 .j..o y~I !~.J L>:-ol)ll4 -1.l ~y.!1 .. lj) ; .. ly,11 ~l...A i"fo. • ; .. 1y,l4 ~_>JI .lie ~J
0~ !"~ ; .. lyll ~l...A 01 .ill.) ~J • (r) 0L.w.!4 !"ljlll'IJ' ~4 !"ljlll'I :L.A.
lj)J, ( !"_,._...)IJ t1~ ~I U....._,JI) (+jl.i:..l.J >.,1_;,JI .U ~yJI 1 '
. •• •.- - . ...>'-" Y. J ._ - ... 1 • 1 ~I....:> J~J

- Ibid, p. 235 (1)

Yo t.>'", cY.l....JI ~yJI (4)

 : oJ ~~I .::.Lal,;.::Jlg.:i~ .t.JL
:.).! ~ .o\.l ~_,...JI wL.ljlll ~i ~
I i'l,.:li.111J~~ .. lµJlll-\
.J~.lll v.Y..J. ~_;JI o.i.. Jll •~ly,11 j,..... tlfol'I ~4 .o\.l ~_,...JI <'fa.
JI L......:i..1..,..... ..ill~ .i....ljlll ._.Jc iji:il lj) Y) J~..a::1...,Y4 tfol' .o\.l ~..i-JI ,jl ~ ~
ly 0.;, ~ t1fol'I .o\.l ~~I ul y. j...o\rl ,jl w_,l:... .J.¢.lll ...s.Y. W:i, ~
~
~l.J-li.J .o\.l ~~I wliw. ~ .r-lJi.J ~I .)~YI J_,ic. ..Yi y. ~_;JI ..iic uY
.) .o\.l ~_;.Jl j..YHl' .-.;\.))_)_,;..JI .J.¢.lll ~~.J. ctu)11 c:t..,..ll Lll...&....<. ~IJ ~WI
..JJJ "-!L.....,,J ..):!--ill.)) cU.YI ~ ~ ~ ~} .o\.l ..:,,LS u).J t)l:.411 o- ~y .lk;
.(')_>.li.ll _))~;JI~

: ~!Joli~~ .. 1µ111- y

.
J---" ~. . J l.o\.l ~ ... Y"' 111.--.'·•.n
~ J JS.·.,,......,.- (.);!'LA
;l. ... l.JlJ:.J.,liJll~~J.i:.:.:i
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~I~ uY r.Jt.;)U .)4) ._.Jc Jl.iJYI ~ L. l.JJWJ, u-91......:JI C"-1)1 Ji w~I .)4)
..:..1.i_,,._,11 OJL.~y, .L..:JY. ~ ~.l! ~b ·~1 r.~1y,J1 ui j) , •~ly,JI ~~ ~ u-9
.(')~1

n - Yo ~~,•fa~ t-?'Y', .:1~ ui.llJ c:::l- rL:.t., ~~WI¥ ->"'4 (')

Yi~, tY.L..JI C;-?'yJI (Y)
'(A o= , tY.l..JI ~_,...JI ('")

'(A c.>"' , tY.l..JI ~_,...JI ( £)

 c) PM has agreed to grant to the Local ~ wi.ilJ"r-.u" l.:.ii ~J ·~
[I I ~!a!Mi
Party the right to procure the u-9 ~I ..)>..JI u_>hjl e-
manufacture of and sell under certain • .v. -·,\ 4.... .)·:::u1 ..m Iii.II .lWI
t:!-!J ~ cl~UI a£1J-:' ,ol~y ~;:. ~
of PM's trademarks cigarettes in the ~.;L.;..:l}I ...:..L.::i.....ll ~ .)4-.- LICENSE AGREEMENT
Arab Republic of Egypt upon the ~.J~ ~ "r-.u" --! L:.WI
terms and conditions of this J_,._l! ~~ ~y.11 ~ On: .... I ... I 199 ''I 'I I I : ?Y-~.ui
Agreement. !.li..11 I~ .l.:.J..r!.J Between: :_:,...JS.:.»!

d) PM and the Local Party are entering u->----1.JIJ "·r-·u") ~J .J Philip Morris incorporated, a corporation ' ....._..L.......JI ~J>- ~ ~..r!.
into a manufacturing agreement with ~ .lie. ?IY.! J~ ..)>..JI organized and existing under the laws of L.._.j\jJ ..::........b ........ L..w ~~ i./'J
the Eastern Company, S.A.E., of . ~~.~~l~~I~ the Commonwealth of Virginia, one of - ~.) Wly....,S. ~l_,i ~~
hereinafter called "Eastern" for the LA fa.J ' L.,iJ'-'OA ....._..~ the United States of America, with its o~I ..:.~)'_,JI .:...~YJ ._5.l.3o.)
manufacture by Eastern for the Local L4 ~! .;t.•:..JIJ s , ~ principal office at , New York, ..... ~~.)I t._;...J - ~.>"YI
Party of cigarettes bearing trademarks • ~ y:.11 • 1""'4 .li..11 I~ ~ .lo./ USA (hereinafter called "PM"); o~I w~Y_,!4, ~JY..»i~
owned by PM and certain of its y~~~~y:Jlr-fa 1""'4 A! t...,,s ~! .;L!...llJ ~.>"YI
Affiliates. yl.;a-.... ~ uh-JI u _>hjl ".• . ?·......,, ..
~ A,__ :U~ ..:,L..)U:. J.w And:
L..;t.JI ..:.lSy:.11 ~J "·r-·S ABC Company, a Limited Liability ~ ..r!. ../' J . OJ""" • ..r. . ~I '-$..r!. J
! t+1 Company organized and existing under ~uJ ..::........b aJ~ ~_,:....... ..:.1.l
the laws of the Arab Republic of Egypt, ~ L.,i.;~ ~l_,i ~~
IT IS HEREBY AGREED AS l.i..A ~_,...,. Jli.i""il fi - 1l....__J with its principal office at... . ~~.)I LA_;...J4y.11
FOLLOWS: :~L..~..iia.ll hereinafter called "Local Party". .l.......o.! ~ ~) JL!..JIJ .
.' ~I u _>hjl • 1""'4
1. Definitions : : Ul.L..fa.'
In this agreement, save where the context J4----JI ~ 1.l) Y! .li..11 I~~ Whereas: =~
otherwise requires, the following ~t.JI ..:.1~4 ~ .!.11.l U:iG.. a P "n-kademllfks, ,. . '-c:s=-,..&..,·r'"-;·~u~r-r.:--t------
"'·
~~~~~~--.-.f)l'eSSioas--shm'1-have-the foil~· : ._,.:; I~ I registrations and applications for ~ J~~.;~.:.i~
meanings: registrations as listed in the First ~~..__WI ...:..4ll:JIJ
Schedule hereto covering cigarettes J.JYI JJ.l.-.;JI ~ ~_,.. JA
·• Affiliate " : : ·~ .4,s~· and other tobacco products. J.-,.!U ~IJ ..i....kll I~ ~.;.JI
means in respect of a company, a firm or ~~"It..~~~~~ ; ;;11 ..:.~.
!c:- · IA y,c.
...>"' · J .Y'\.:w..11
.
company controlling, controlled by, or ~~_,I cJoA~I ~..r!. ulS ~1_,...
under common control with such JI u--l ~~).,UC! ~ .:..1.l b) The Local Party has been formed under t.>"--'"b ~1 u_)...11 ui ~ J . ...,..

company and for this purpose "Control"

shall mean the power of a company to
·~l~J'··~~
1:+-JJ , ~~I
secure by means of the holding of shares ~. ~, ~ uJ.9 c.>a.;-.JI
or the possession of voting power in or in L.... ~~ J~ ~I .uJ...11
·~~_;..:.JI
the laws of the Arab Republic of Egypt ~4..--.u~U:J.il,S~~
in order to market, promote and ~JYJ ~J ..h c..);i_,...ll .i..py.ll
distribute cigarettes in the Arab ~ L,i.;~ ...---i .)4--JI
Republic of Egypt under license from u-~.Y~~.i..pyJI
PM. ~ "r·"'-:1"
 :".1,!J_,:..!1~·
"Supply Agreement": relation to any other company not less ..bLL"u.)'1 ~.).CF- - J~I
·························································· than 40% of the total voting rights of all u--i ~~ A...hl..~! } c"f"'""4
.. Territory": : ·~'ii" the shareholders of such company ; - 15_r-o..1 ;.s~ ~4 ~ l4 .JI
means the Arab Republic of Egypt other ~ ~_;-JI >-'°""' ~J-'fA'?' ~ cJ..--...o ~WI ._r9 f • CF- ~'i 1... u3c
than the duty free market and sales to Us ;, .)l.i.......JI u-1! w~l .J ;, ~I j_,..JI J_.SJ ~_,....:JI j_,_.i:.. ~!
embassy and consular staff and members Ay'JI ~I ..ill..Jl.J ~y'JI . ;.sySJ1 ~ ..r9 ~L......11
. ~y'JI ~I wl_,ill Jl_)i.J
of the US forces ;
"Distribution Agreement": : ·~Ji£:_"

..Trademarks": : ·~J~ ..::.L.~I"

~ • .)~I. ..:,L.....)l..JI ~ • . · •
..r--'
means the trademark registrations,
applications for trademark registrations ~.J ~4 ~WI w4lhll.J " Dollars" and "$": : '$ ~l.J ..:..IJ'j.J.lll"
and any and all registrations resulting .tL..J~ .J , ~ l.:.;; ~I ~I means dollars being the lawful currency ~I l+--i-nY. ...:il.J'i.J.l........ll ~
therefrom. as well as the labels and the • .l....-.A 15 fa..- .J ~1 ...:iu41 ...:iu~ of the United States of America; . ~y'JI •~I w4'i_,ll ~_,.;li.11
verbal and design subject matter thereof 1 : • a!ll .J .hill\ ~ j.o ...:iu~I
listed and depicted in the First Schedule J.J~I ._,-i ~ y.-n _,.JI J ~_,.JI "Management Agreement": : "t)J'il ~·
hereto and all renewals thereof. J._._S.J .i....k..ll I~ ~_>JI JJ'JI means an agreement of even date lu ~j~ ~ ~ ('y,.JI .i.i.JI ~
. ..ill~~W1..:.i1.l:!~1 herewith between PM and the Local ~I u )cJI .J ", e- u" .J:.! .i.i.JI
Party for the management of certain u..r-Jall JL..c.i w'i4-a ~ •)~)'
2. License Grant : : ~_;Jl~.Y aspects of the business of the Local Party . ", r: u" U......1>! ...,.h-JI
2.1 PM hereby grants the Local Party the "·r·'·s F \-Y
.i.i...ll 111. ...,..,.,..~ by PM;
exclusive right to use the Trademarks 1.:.1.JJ o.l...-:>. .J ~I u )cJI ..s-1!
in connection with the procurement of ...:,L...)L.JI rl~) t.s-9 j.>JI .1_,.. : ·~ Jk:."
"Manufacturing Agreement":
the manufacture by Eastern or under Y.!1.lJ.ll :i~4 ~ l4 ~.)~I
means an. agreement of even date 1:i_. ~j.:, ~ ._r9 r y,.JI .i.i...ll ~
such other arrangements as may be ~~I ('_,.....&; L....A~ ._;JI herewith between PM, the local party and ~I u ..r--hJl.J . (' . u .J:.! .i.i...JI
agreed between PM and the Local ..>#- ~.J-4! .Ji ..:,~I ~
Eastern for the manufacture by Eastern ~~I _,_&;.~ti •1
Party and the promotion, sale and l+:!lc- ~ ._;JI w4fi yll j.o ..illj ~~I u.;---hJI yL...:...l
.J •('•U ~ ~I ~.)~I wt....:::l..ll ~ y~
Territory by the Local Party or t:-:!'!.J ~.Jfa. ~ l4 ..ill~ .J its Affiliates ; wlS~I ~.J "·(-·u" ~
according to the terms of the ~"JI ~..:,~I t!j.ii.J . t+-1 ~Ull
Distribution Agreement. The rights lii .J JI , ~I u )cJI .U...1 Y.
hereby granted to the Local Party are ..b ~.J . t!j_iill Jic. 1. .Jy!J " Pounds" and "LE" : : ··~·t( ~.J ·~'

conditional upon the execution of the ..,..--h-JI u~ j_,h.11 ~ means pounds being the lawful currency ~I ~Y. ..:..~1 ..,-i.u

Manufacturing Agreement, the .i......M:. rl..>-!) .l...-i..ll 111. ~>"-! of the Arab Republic of Egypt; . ~.;-JI y..o.o ~.;~ ~_,.;li.11

Management Agreement, the ~.J o)J';I .l......M:..J ~I "Prod ucts": :·~1·

Distribution Agreement and the
Supply Agreement on the date hereof.
~.)~ ..r9 .l:/.);.11 Jic.
.
.J t!j_iill
.i.i...JI 111.
means the brands of cigarettes bearing
one of the Trademarks described in the
~
~,__,.JI
cs---=JI y~I uU.....I ~
""-u~I ...:it....:::l.JI 15.i:..)
I
Second Schedule hereto ; • .i.i...JI 1-4! c.)iy.JI ~I J~I ._r9

~I
Party. The Local Party will use its best . ~1 u_):JI_, r .u ~ 2.2 The Local Party agrees for the
endeavors to enforce the provisions of ~I u_):JI f'~.....;_,..._, duration of this Agreement, that,
this clause and will discontinue the sale r'--S.:..1 ~ <1..o..w._, ..,SL. ~I unless so requested by PM, it shall not
of the Products to any purchaser whom ~I ~ Ui-':i"".J •.foll .~ manufacture, promote, distribute or
the Local Party or PM believe to be u->---1JI ~ t.SY.:... LSI u-1! sell :
involved in the sale or the offering for ~..!]~...,;i.f'.u_,l~I
sale of the Products outside the Territory. .::..~1 I.fa.JC _,i .:.~I~ (i) any other tobacco products in the ~ LS~I tf c.:.t..;.:u.. LSI .i
. ~"'JI ~.)~ & Territory besides the Products; ! c.:.~1 ...,....;~~"'JI

3. Extension of License : : ~.;Jl .l.t -r (ii) any product under or in connection L.,ii _,I ...,..__,. ~ ~ LS I . ._,.,
PM may, at its sole discretion by written ~ LS .. lfa. ~ r·u -1 j.P.-i with any trademark(s) or trade c.:.~.,,l~A..:i4~
notice, grant the Local Party similar · · ·l ~
~..Jc.r! .)L....bLLA~
.. _, name(s) other than the Trademarks; ~.Ji+; .t....l _,I ,.....1 _,i A..:i.J4-J
rights in respect of other brands of ~ ..____tL.... Li _,i.. ~I u .).JI I A..:i).,..::JI ut....::WI y,i:-
cigarettes bearing PM trademarks. If the .)t.;..._...Jl LS~ ';1 ut:....oY4 ~
grant of rights in respect of another brand " __j ~).;-.::JI wl.::A.all ~ ~I (iii) any other product under the ..,.._,.>4! ~I ~ t.SI ._,.
is made upon the same terms as this ~ t..h-j,. ~ ~b. ..,s_, . 'r.u Trademarks or under or in _,I y.;o.>4! _,I A..:i..1~1 c.:.L.:)L.JI
Agreement, such brand shall be deemed ..b_,y:.11 ~ w_, ~i ~ ~ connection with a trademark, brand _,l~.J~~~~
to have been added to the Second Ii-A ~, .ii.JI I~ ..,9 o..i)_,!I name or label confusingly similar to ~c.:.~~~.,,1~,.....1
Schedule hereto and the appropriate ~I J~I c).1 ~i .li ~I any of the Trademarks. ~ ..l......._l;J1 ~ ~ ~L....
trademarks. trademark registrations, wl....4:WI ..faU.J, .ii.JI 14! ~_>&!I .~.;~I c.:.L.:)L.JI 0-< <.Si 0:1.J
applications for trademark registrations, ~J?' .·._, , "+-il..i..JI ~.).,..::JI
labels and verbal and design subject ~ 1.:L.,J1_, A..:i.J~I c.:.L.::A.all 2.3 The Local Party agrees to refrain ~ ..,..--h.JI u.)..ll ~ly, r-Y
matter thereof relating to such brand shall ..:.L..it...
•. c.:.LiU.....J , ~:!.) 6.::JI
. c.:.L.::A.all from selling, promoting and distributing e;-Jj.f..J r!-'..J..i'.J ~ i:;p t Lr...'I'
be ·deemed to have been added to the oi...A ~.J .l:..&I 0~.J ' &WI the Products outside of the Territory, or . 0-- _,I ~"JI.( .J~ C.:.\.;UWI
First Schedule hereto. Following any ..i_i , i ;. alt 14! ~I c.:.li~I for eventual resale or consumption _,I~ ~I i..iL....::.J J.-..,..1
such notice, all references to "Products" ~_;JI J_,YI J~I .)! ~I outside of the Territory, except with the 'JI I
and "Trademarks" shall be deemed to .JL.J.:u.1 I '-'u;1 · consent o PM. Each "·r·S i:J- ~ A..:i.!t:.s .(iii~
e First and ' c.:.L,..:il.JI' u-1! u'ib.'/I JS JiW request by the Local Party for permission u.).JI U.- yl.l.. JS u-1! ~-'
.~ JSJ U.~ 'A..:i) ..,.:JI c.:.L.:)L.JI '_, to sell the Products outside of the ~~uk.J~~I
..,;~1_, J_,';1 ~I .)! c.:.LiW.'/1 Territo.ry will be examined by PM in ·~<.)~"JI ~fo c.:.~I
. ..iWI 14! 0.!il..;JI light of the specific markets involved and .. Ji· ·II •" , .u ,jl_,__...YI
the then prevailing economic conditions. O~ .l JJ,aj"Jll U.J).all.J
4. Manufacture and Materials : The final decision will, in each instance, JS ..,s .;I.;ill j~! ~ s . ~ s
4.1 The Local Party shall procure that the be taken exclusively by PM. The terms 0.J..l LA~_, r·u ..,.ut,. U.- .ut:..
Products shall only be manufactured governing such possible exports will be ...,..-::JI .b_,~I 0.,S:-.J. 1.t.l_,...
by Eastern in accordance with the the subject of a separate written .::.I .J..lL-..c.!1 .La J...:... ~
specifications and designs, and using agreement between PM and the Local ~ ..r.t:.s ,j\.ij) ~~I
 only tobacco and non-tobacco .ll _,___JI ,>- 0 ...>#- J &1 !"I~!
4.4 The Local Party shall not sell under ,) .j--e .)->..JI ._i_):JI ~ f- f materials supplied or approved by PM ""f"·u" LA..l..:l.a_j Ji lA.l.JY _;JI
the Trademarks any Products which ~i ~.J~I .:.WI.A.II ~ ~ according to the terms of the ..s i.......JI ~I .lie. .bJy!l U,J.
have not been manufactured and ~J~~~..:...i.,.::u.. Manufacturing Agreement to be u_):JI_, ""f"·u" ~ 4-....'Y.! ~
packed in accordance with the wL__i...:.I_,..JI J ~L........-ll ~ entered into by PM. the Local Party ~ L....S . ~ _r....:.ll J ..,.h-JI
standards, specifications and f"·._i l-A.l~ _;JI w~..iJIJ and Eastern. The Local Party shall ..:i4 ~I J:!-!1.llll .)->..JI ---i.):JI
directions as provided by PM from .y.'J ~ .j-o also procure that Eastern complies ~ ~ '+iL.1 Jll4 ~ y!}I I" fo
time to time. with its obligations under the w~I ~ ~J ~I .UC.
5. Promotion and Sale : : &:'11.J ~.J~ -o Manufacturing Agreement and shall .~ ~ ..,--lilll ~ ~
5.1 The Local Party shall, either directly ~ - ..s-6-JI ---i_):JI J~ \ -o not purport to waive or release Eastern ~_r....:JI .. L.ic.1 Ji , wL.1_;.J)'I
or through the arrangements contained _;JI w\..i,ij_;JI ~ ,>- Ji _.>o!.4.o from such compliance or amend the .l-...ic .bJ_r-.:. ~..i.j Ji l+--1-
in the Distribution Agreement, use its -~~•I - ..
...------- ~.)_,... .lie. I~. ' - ·-~.
-.11 terms of the Manufacturing 4.i....... ~US ~I >"U~~·.,,.••.-~II
. •.
best efforts during the term of this .l..-.WI I~ o.i.. J)L.;.. ......._J .s9L. Agreement without the prior written . "·r·.._;· ..J.o
Agreement to promote, distribute and .s9 w4-=iWI t7!J ~j.i'J ~J.Jil consent of PM .
sell the Products in the Territory. The u->--1..JI ~ L__.s , ~'11
Local Party shall also endeavor to (:-f! ~ J ~JJl-l ~I 4.2 PM shall at all times during the ~~·f"·u"_J~y-f
promote and develop in the Territory ~ U,J. r#'11 .s9 w~I continuance of this Agreement be ~I 11' .jyY-" J)L.;.. wll}JI
the sale of the Products according to ~ 'J ~ 0-- 4.;lc. ~ _;JI entitled to inspect, by its duly ~J ~-u.b ~ .J:!\.a.,i)
such plans as may from time to time u-9J . ._..h...JI w.):JIJ f"·w ~ authorized agents, any premises where 01 ~ _,,._; ~ ~_,i.JI
be agreed upon by PM and the Local .)->..JI w .)JI ~I y, , .jl:JI 11' Products are manufactured or stored, ~fa _,I ~ ",!i ~ ..>tic.
Party. In this regard, the Local Party U---w~I~~~ or where materials to be used in their ~I .ll_,..11 ~fa _,I , w~I
agrees to attain the sales volumes of . ::.. ~1.;:.. ~J, ..::...~1 manufacture are stored, and the said ~J·~~~
the Products and to dedicate ~.lll ~_,y.._JI_, ~;:i.J agents shall have free access to all J_...S J~.l ~~ .,)lS_,ll .. )'_;..!
advertising and promotion budgets in ~~_,.._y.~w~I parts of said premises and may inspect ~ JYHJ • ..>Li.JI ~ .,1~j
support of the Products as set out in . ..:...ll:JI J~I and evaluate any such Products or Ji wL_;,..:i.WI .~ ~J ~La...
the Third Schedule. materials used

5.2 All advertising and marketing wl._...\.:-- JS ~ ,) ~ Y-o 4.3 PM shall have the unrestricted right ui J..,__...i u.J.l r·u __J ~ r-f
policies relating to the sale of the t--H"! ~I J:!_,...::JIs ~ '11 to direct, and the Local Party and ~1 u.):JI ufa..J, ..,.J.J..:;
Products under the Trademarks shall w~I ~..;JI w~I Eastern shall be bound to immediately ' ~~ I .)_,i 0,!Ajl.. "-:!i y:.11J
comply with the advertising and ~'JI wL....\.:-- t:4 ~.;4UJI apply, such changes in methods of y _,L...I u--i ..;..1~1 ~I..»)
marketing policies of PM as expressed . r-·u--! L...-WI J:!~I_, manufacture, materials or storage ~~Jl.ll~_,~1
from · time to time during the term .. ~I y..'J U::i. i..>- ~ ~ thereof, as may reasonably be ~ 4.;_,y.a ~ ufa. ~
hereof as well as with all applicable J._.S ~ ~ s .lkll 1.:i. •..i. necessary to ensure that the wL..;.:.WI ~th. ~ J_,&....
Jaws of the Territory. . ~"JI~~ J_,_JI ~l_,ill production of the Products complies r-·u ~L.-........1 •~_,JI ~ i.J.a
in all respects with PM's standards, · ~_y_,~1_,.._,
5.3 The Local Party shall submit to PM ~ ._..h...JI u.):JI u:a~ r-o specifications and directions.
 Products shall, whether such materials JI 4--J ~J_;......ll JI •.:..L ..;i..~1 in advance of any use being made ..:..~ r1 .i;..:.__.,.! <.SI J:>i r · .._.
are supplied by PM or designed and .:i........ w.;~ .. 1.,... ~ ~y:. thereof, representative samples of all ~'JI .il_,_..JI ~ ~j_,....;
created by the Local Party ~ JI r: u u--- o..i J_,... ..ii _,.JI advertising matter, labels, packages, "'I .... 11
....... ~ J
_ ..,,_,,
<:..-
• .. .. 1:1
<...&;!yu '-'"'~J
I

incorporating any of the trademarks or u.,t-hll ~~ 4J...c. J ~ boxes, cartons, stickers and any and Li_,__:;_fi.11 ~ J ~.iL..:.....JI J
other PM design materials, be and 0---- 1.51 ~ ~I J , ._...h..JI all other materials which it proposes <.S~YI .il_,.JI t$J wlil.a.WIJ
shall remain vested in PM and PM ..!1--" • .J:!C JI ~)-::•:JI ..:.,L..)A...JI to use in connection with the sale or ~ 1.4 L,....1~) cfo. <.iJI
shall be entitled to use any such ----' . ~WI ~ .. · .. -~'I ..ii _,. .JA
·
offering for sale or promotion of the ,..,__.
\;, UY- J I C"""
... 1 ~JW
· ... 11 I
J ~
advertisement or promotional ,.1.i:;..:._...) • ,. .cs -1 ~J. ,..cr Products, and no such matter or ..ii~ ~I ~'IJ, ~I
materials for its own purposes outside .:i........ ~Jy...-11 Ji .:)::A&.'JI ..ii_,... material shall be so used until ~ rll- ~1 11. Li"" <.SY.i
the Territory. J~ r;,.Jl:.. ~WI ~l_j:.)' approval in writing is received by the ..,--le. >· u" LJ..o ._...h..JI u _)JI
.~"'fl Local Party from PM. ·~~~~1,..
.... r ,....... h ........._, 5.4 In selling, promoting and offering for ~ .ljc ,_,h...JI u_)..11 ..iS~ f-o
6. Price of Products : .......,,.,,..., _,-
6.l The Local Party represents that the .<....~ .J~ _µ1 u_)JI ~ 1-1 sale the Products, the Local Party shall t-*l ..:.i~1 (fay;. J (!:l...JYJ
. f . L ,1.:; ::;_ ._.... 11 .......,._. ;._J...........,..._ ensure that its distributors or other .. ::L-.S_,11 JI "-+ j_,... ul U--:...
Government of th e Arab Repu bl 1c o u-- .r: ~ ..r-' ~. ....... .J'>"" ~
'th h , ..,, ............,,._ "--...J_tJI ,lS.:..1..1 Ir agents shall do nothing which in the ~U LJ..o ~ I~ J 0J..? 'JI
Egypt is in agreement wi t e ....,..-~ , 1 ..s-
, ..:.,~ '.l.l...Jl .... 11 opinion of PM tends to discredit it or c.S..lH JI ._,.:.,i ul ,. . .._. ..slJ u-i
following provisions concerning the . u--' . e7 ..?-"' b · · di
. f h p d d . j• 1< J:i..u ... _) Ir . ._,1 ..,_• nng into isrepute the Trademarks or ..:.iL.-::>...JI ~ "-:!~ .,-l!
initial selling pnce o t e ro ucts an u-'--" ...,... _ ....-- ..r.J
\.J"'
. - ..:..L..:iil ~ ~-i Ir J. __ 11 ...._....J which might diminish or adversely 4l- . k~JI Jli,i ~_,I "-:!~4-=JI
it agrees to do everyt hmg necessary in .r · u- ~
. b ., . c ...J .. " . . ,, ,;_" ::;_ c , affect PM's or any of its Affiliates <.S 1 ) ,. • .._. ·~_, ~ ~
order to obtam any su sequent ...,~ ......u.t1J ~ ~ • .,-..-
..:...~ • .l.l...JI • ..11 reputation and goodwill in the ~"JI u-i t+J ~WI ..:..IS_,.!JI Li""
Government approvals which may be . ~ . c== ..?-"' T · I
· · · · f Ir,,..:;.,,:,'. L 1c1 .......,,._._,
·'. emtory or e1 sewhere. If any actions ~ ~ lj)J. ·~JI
required. Th e irutta 1 se 11.mg pnce o .s-- .....,.r- ~ ...-
of the Local Party, in the opinion of ~I w_>-l:JI Li"" ..:.iti ~
the Products shall be L.E. I . I 0 per J • r--- A • • J~ r· _,-
·
pac k of twenty 80 mm c1gare es an
tt df :,•_
_,..~
'.... , c1 ._.·..._ 1• r .
"'---""" ~ ~
PM, do risk to discredit or bring into f.S.lji JI ._,..:.:; ~ 4-JI ,.u
,
dJ
. (' ·) .....r- ~. u-> tc ._.1.:...,J _ ~'.. disrepute the Trademarks, then the . .,.-J:F;!--)------t-
..:.iL.-::>...JI ... :::·:·::::~::!J:::;•;'...!
1.2 0 per pac k o f 1 00 mm cigarettes. y,- ,

--------~~~ri'.-~~'(JJ~·~~~·rp;~~·~.~
For every ten ( 10) piasters mcrease in
cos
0
e arty for ~~·1-~jc";~~-;1
..»-+i ~ ._..-6...JI .....:._µ
~--.=~·~·~----~i-----~L~o~c~a1~Part:y..shal~~~_,·~~
changes in its methods of selling, .. I~) JWI csi c).-11 u~I 1
· t ,_. ~1L .11 .... 1J" .• n .. ..:.,1 ._ .:·... 1 1 promoting or offering for sale the ~ ,. . ._.~~I ..:...1~1
the purehase of Do IIars agams -....._,-... - '• _,-~ .._,...
· d ti h ·
Poun d s require or t e import o raw f J1
......_I .....,..,,..
-'-' ·;; ,,', ~- 'I .ii ,-.
.. 11 ..ii
~ • Products as PM may require.
UL.o
..- " w_>-l.JI ~~I ~L...)'1

materials, the respective • reta1·1 pnces

• u->"-4!.., _rUAI .......~
~--"IL• .l.1•0.1.:.••ll::i~'-."'"',ll
~ ~J.fa-llJw~l•:.•l._...h..JI
C"""
wilt be increased by five (5) Piastres UAlil .liJ · "-!k JSl cYJ~ (0) • & ~Y:.J l+l
per pack. The agreed rate for ~ i.r-1-ll u_)..11 "r.u" 5.5 The title and ownership of any and all J.-o. ~p.... Jh:;_, ,.. ._. J~ o-o
purchasing Dollars against Pounds ..:...IJ'l_,..i....JI .. 1~ ~~I intellectual property rights, including ~~I ~1_,, ~'
which is the base for the foregoing ~ e,,_,_..s.; ~IJ ..::..~4 trademark, design and copyright, in u--i ~ - ~..foll ~I J_,h
retail prices has been notified by PM ~L..... ;,__;_?..:1]1 JlA....Y '->"L...YI and to the advertisement and 1 1• ail!J ~J4-.:iJI ~I .!lli
to the Local Party, and in the future ~I u_)..11 ~-' • µ1 promotional materials used in selling, ~'/I ..il7--'" csi ~I ~J
the Local Party will notify PM each •J--A JS csi ~I u-i r· u promoting or offering for sale the ~ ~ -" • ,; ; · .11 ~_,yi1 _,
 the Local Party and the aggregate net oi...Aw~~~~~4)J time there is a ten (I 0) Piastres per s~ .)'J _,i-JI .?- 4.;J J,i_Y.
..;~~y..i~w~I ·.11~1
sales price thereof in the most recently Dollar increase in its actual cost for u-- u-5.• I..>" .JY'(') •
completed calendar month or, as the 0~1 ~ Jl~~I ~ j..lS r.1 _r-..!J
..,--b-JI w _)JI ~
purchasing Dollars. which will be the
case may be, in the period prior to .... ~)'I Ji r.4'.il)'I 14J ~WI basis for increases of five (5) Piastres JJ.........81 jfo u:illJ, wljt_,.lll
such expiration or termination. per pack in the respective retail prices. ( o) ~ L._,.l.Ji .?- oJ4jl
o\.._j fe=JI ..J~j ~ J._,.,>-i
7.2 PM by its duly authorized J...-l_). ~ r-·u _J ~ Y-Y . l+J o _):.I.WI
representatives will at all reasonable ~~~_,;...JI~
times have the right to examine such wUj')I J._....S ~ r-4iJ1 ~ 6.2 The Local Party will undertake to ~ u----h-JI w _)JI J-.! 'I' - I
records and accounts of the Local ~~LJ~I obtain any increase in the retail price ...>---' ~ •JL-:!j ~i ~
u~-1..,.,....,.11 u->--1JI w~~.J
Party and to take extracts thereform. of the Products upon the written ~ uit ..J_,; w~ .4J_?..:JI
. 1+1o ..J-""° i: I _p:.....1 J request of PM. The Local Party will j~ .J . ('•...... j.......A ._r.LjS
exercise its best efforts to obtain all ._)L..... ~i ~1 c...:..).11
: ulJ~I -A
necessary approvals for all requested
8. Royalties : j.._.S ~ j~ -U..........J
8.1 In consideration of the rights granted ~ ~ _,wll J_µI J.iU.. ~ '-A increases in the price of the Products jSJ ;;_...j)lll ~..J.Jy.:.JI wt.iii y-11
by PM to the Local Party hereunder, Ii.A ~>'"'! ._.J.:...JI u_>hll r·u in order to reflect any increases in the J"-"' ~ ~_,J..b.JI wlJ4jll
the Local Party shall pay to PM a ~) ..,--b-JI .....; ..)JI ts.l:! .li..ll cost of tobacco and other materials, wlJL....,!j ~I ~ ~ w~I
royalty of $ in respect of the ..J'J JJ · · · L-...A ).a..• Jw) I'·._; increases in taxation and any other • cs .r-:...YI JI _,.}I_, t+>11 ~ ~
Products sold by the Local Party w_r-hJI ~.;JI w~I .:JC changes in economic conditions in the wl~ "-:!I J ~I y.:.JI oJ4j.J
during each calendar month during the ...s~ ~ J$ J:::U. ._.J.:...JI Territory. ~~")'I w_,_);JI ~1..5~1
term of this Agreement. The parties · .l-i..ll 1:i..___.. 0Y>" o.l. J1_,1. . rfa")'I ~
agree that said royalty shall be ~..J ~ c) ~ .:;L.S..)JI JSIY-J
indexed to the net ex-factory price of ~1 ...>---' ~~ ._,'U)'I 7. Records and Reports : .>'...}l:il!J ~ -v
the Products. {The Products shall be .l-....i w~I fa.J) · w~ 7.1 The Local Party shall keep accurate ~ ._.J.:...JI w..)JI ~ 1-v

-
-------~L~o~c~a~I
considered to have been sold by the

~P~arty;;.o~n;c;,e
d e I .ivered to...
;,th~e~y~h~a~v;e~b~ee~n~~·
terms of the Distribution Agreement}.
J~ ._.J.:...JI w..)JI W-- ~

·~·• ·~·~· ·~:~.;.s~..>-"";:·~u--1~~!

;• 1 . .. 1;.-~. ·~·;1 ---1----:~~~~~~;te-time 1eqoite
records and accounts in ~s~u~ch'.;.;;fo~r~m~as~;'~';t..5~~i1~J$..!J~·~i.,:·

a II P ro d uc t s supp 1·re d t o an d so Id bOfy

the Local Party under this Agreement
~
:~~:~J:3wfw~.~~J~-

s:::s:J .)..
,·'----6 ~w. "J UP-
IJ o.).JA ...,.U..I
i'.w .•.
'· •11 wb:i:a.J
J_,.-
1.li..ll 111. ~-'4! ._.J.:...Jl u..)JI

8.2 All payments required to be made
pursuant to clause 8. l shall be made
within thirty (30) days after the end of
and shall prepare and submit to PM, ~! ~.J ._.J.:...JI w..)JI ..w__,
~ ts.l.
...,..._,u:..J1 tJ4-JI J$ Y-A within fifteen (15) days following the ~ ~ u_,..:..i:. ~ ·.,..--.:.·
.:;,_...:..c. ~ \ -A o fall ~ J4! end of each calendar month and ~ J.-.$ ~~ w-- t.. y, (' 0)
~I~~ iJ..o 1...Y-('1"·) ~ within fifteen (15) days following the (' 0) ~ ~_, • t..5~

the calendar month to which they oi....A ~ ~ i.S~I i.S.i:l4-JI expiration or termination of this .i...i...11 111. .. ~) _,I .. 4'.il! W..- t..Y-
relate and shall be for the number of ~ ~I .11. ufo .J ' tJ4-JI Agreement, a written statement, ~1 c.).--o L-i >" ~~ Li~ -
Products sold during such calendar ~ J)U. ~I ..:..~I ..l.lC. signed by an officer of the Local ~Y- ._.J.:...JI u..)J1 ._.J_,......
month. All such payments shall be oL-4 J$ ~.J ·i.S.i:l4-JI ~I Party. which sets forth the number of ~! •.l..J_,_.JI ..:..~I ..l.lC.

made in Dollars to PM by transfer to a -'JI Y'-1 r·.. . ; ._.l! ..J'J ~ tJ4-JI the Products supplied to and sold by 1._.J.:...JI u..)JI :U.....ly, .i..c4-JI_,
 major American bank Located in New ..,....i ti:! .A.) .Ai.>41 ~ .),1
I 0.3 The Local Party shall not al any ..si ~uh-JI w_.;hJI ~ r'-\ • York. [)SA, designated by PM or, as ' .!!_;.,,.._..,_,;.; ~') ~ ' ..!l.)J:!_,;j
time claim any right, title or interest in Ji ~ ..s~ ~\.h.JI ,:;r- wiJ to the whole or any part thereof. in • ~.>4 YI •~I ul/i _,14
Lu!• J I ~ ·~ J i~ • ~- such manner as PM may from time to
or to the Trademarks other than the Ji J._SJ ~4 'Ji r· w o.:i.l:..J
right to use the same under all the ..»--"- L.:!.}-~:.11 ..:...1...)l...J4 ~ time specify . ..,.:.JI ~_.;hl4 , t}4-JI ~
terms and conditions hereof. Neither .:i~ JS ~.'4! 4--1~) c.:;o. . ,?'J .::..!J ,:ya r·..._. IA.:i.i:..J
shall the Local Party question, at any ~ L....S, .li.JI Ii.\ .bJ~J
lime. the validity of the Trademarks. ..,..J ~I .:;p uh-JI w_.;hJI 8.3 [Provision to cover withholding of t ~4 u-oL;JI ~I) 1"-A
u~l~~wiJoi taxes J. ( ._,.,;1.,r411
. "-:!_;~I
9. Government Approvals : : ~_,wi uWl_,..Jl - ~
I 0.4 The Local Party shall assign to PM u---l! uh-JI w_.;hJI Jj\.:i:i,! t- I • The Local Party shall obtain all J._.S u---lc ~I w _.;hll J..=..:
any right that it, its distributors or .,._..i. ~ .li c.:;,. 01 .:;r- '°.w governmental consents and approvals "--:!-<_,hll ul..i~')IJ ..:iwl_,..JI
agents may acquire through use or t....,.i JI~ ~J JI ¥-j,,..JI necessary for the coming into effect and ~)I....,, _;I ~I J ..:,,l:!y..J ~ j')lll
otherwise except for the right to use 0- ~..........,u~I ..:...L.)l...J4 ~ the continued validity of the terms of this . ~I ..i.ic.J .ii....ll Ii.\ .bJ~
the same under all the terms and ~~JI l.1.~.:...)'I ~ Agreement and the Manufacturing
conditions hereof, in or to the uL-::WI oi.\ l"I~) c.:;,. I.le. Agreement.
Trademarks. . .ii..ll 1:i.. ..l..J~J Jfa. JS ~.'4!
10. Trademark Protection: :~~w..n~L..:o.-\.
I 0.5 PM shall have the sole discretion as l........4.:i~J ··t"·w" _J ufa. o-\. I 0.1 The Local Party shall do everything L.... JS ~I w_.;hJI J~ I - I •
to whether any proceedings are Ji ul~I~) "-:!I .l~) y,.liJ c.:;,. in its power to protect the Trademarks uL..:::WI ~Lu.I 4--.......c J .)
commenced or other action ..sl c..>"'~ ..sJ--L.:i "-:!I t}_; as the property of PM. To that end, it uL.it..... 0---o ~ Y. "-:!_;~I
undertaken regarding any ul.Sl+U! 6~ ~! JI ..!!i+u! shall, and it shall ensure that Eastern <L...Jµ ._,;.._J--AJI 1:+-JJ "·{"·w"
infringement or possible .:!L...lll ~ J . "-:!J~I ..:...t..::A..JJ and all distributors of the Products j .lS~ '<L......i.U ·I"~ ·.ol. .
J
infringements of the Trademarks. - uh-JI w _.;hll ~ F ..i,..;µ shall, fully comply with all the laws • ~I ,,r- jy JS J ~_;.!JI
·Accordingly, only if requested by PM - ..!l.........l: r·w ......._ u,J.J.. 1.:i) 'l! and regulations o · h 6=fi1Jill ci:::::::s; cow ..:,_,...Ji(:
to do so shall the I peal V~ 1 J(
1· ':Jo ~-"'J are applicable to the manufacture, sale J~I ~)'4 ~WI ~l_,.!JIJ
commence, participate in or threaten ~L..;..i ..s.JC.:i "-:!I e» ~1 or promotion of the Products or to the Ji ~ JI ~ 1; 011 ~4 4-1
any litigation involving any of the ..:..L.-)1....ll0- ..sl c..>"'~ use of the Trademarks for the r1~! Ji u4:u..JI ~JY
Trademarks. PM may, in its absolute ...,....,.,,. r·w _J j.YH.J . "-:!_;~I Products . • ..:...~ "-;!_;~I ..:..l...)L.JI
Iiscretion and at its own cost, either in L..) l+!~ ~J u.~J La.fi
. ts own name or in the name of the u--6-JI w _.;hJI ('""4 JI l+-4 I 0.2 The Local Party shall give prompt r·w ~1 w_,;hll ~'I'-\.
Local Party and/or Eastern, take such ~ ,:;\ l...t---l- 41 Ji ~ y!.11 J notice in writing to PM of any Ji ~I ..s~ JWI .) ~US
action including the initiation of JI L.j'i .1.,,_:; ..s.L.JI .. l_.»)'I infringement or possible infringement ..:..t...........::W <!l'+U! 6~ ~!
proceedings and participation in .lL.;.:;) ~ ~ ~ ~ of the Trademarks or of instances of. u')~ 04 JJ6. "-:!~Ji "-,!_;~I
proceedings initiated by the LOcal .U_;L...:..JIJ~ylill ul~l_.»)'I unfair competition which may come to ~ ..iJ !.- ~j.ill y,i:. Wt.WI
Party at PM's request as well as the ...--=iii 4ylill ..:..1.. 1.,.>-+)'1 ~ its attention . • <l.....lc. ._...!!
 matters herein provided. lu ._,! I.# i..><'~I .JY'JI
JI~~ ~I i...S.l! ..i.WI
-~~
~~lu..):Jl~V-'·
IO. 7 The Local Party shall not enter into any
agreement with distributors or agents Ji ~ j_,.. e- : .fa. ~i rl y,)
without having received the prior written 4,1.:lS ~1.,.. ..,ill ,jy ~)I.SJ
approval of PM. The Local Party shall ~ .J>-9J .· ,. . ...:. 0- ~
upon receipt of a written request by PM, r ,__l,i • · r· u" 0-----< ..r.US ~
immediately terminate any agreements ~ 4-.Jl-! JWI ._,! ~I u ..)JI
with distributors or agents and shall ' ~:::I.SJ JI l.J:&-jy t:" ::.fa. ~I
indemnify PM against any claims which u4lU.... ~I lJ&- ·.,. . ...:." .fa~J
may be filed against it by any distributor
or agent as a result of such tennination.
} tj_,_.... ...;I 0- •.w. e}.Y .i.i
~t+i)'I I~~ ~J
~I.II
11. Confiden tiaJity ~I u..):JI ._,le _):..:...,i ,_, \
I J .1 The Local Party shall not at any
time during the term of this li...A ,jl.~->"" o.lo ~~I wiJ ._si ..,!
Agreement or thereafter disclose to i...S"J ~ ,) ..!ill ~ } ..i.WI
. ~I I _ .. L .•
any person, firm or corporation, other ~...S.J .. J~~
than to its employees as reasonably ~y.h.. ,j~ ~ ' ~,,..
required to perform its obligations . . . . . ::.L.lyl) L.#J J~ ~ obligations
under this Agreement, any know-how, .~~~I, :.WI l.lA 1.....1.;.~
secret processes or other information LJ ~ ~i , ~->"" u~
concerning PM, its affiliates, the
Products or the manufacturing process
--!
t..--J ~WI
~ ~I ..:...t.._,l....ll 0-
ulSy!JI JI •. e- .s
. •I •
which is confidential b its nature o
which is notified to it as being L-.... JI ~ 4->"" 0fo. t.......
confidential, which may be received 4->"" ~fo. µ1 ...:...)JI ~
by it during the term of this •::........... Sil ~ ~ .i.i 0fo.J
. :.WI l.lA 04.Y"'
Agreement.
defense of proceedings brought ._.-le ~ ~ ._..b....11 ._j ..)JI ~ .>.!
against the Local Party as it may deem ~ t liill ..m:isJ , e u -,..J.6
necessary or desirable, at law or in L.c:._,i_;...ll ~J-iWI ..:..1~1.fe)'I
equity or otherwise, either in the r5~1 ._,!uh-JI u.;hJI :..A
Territory or elsewhere, to stop any wl~I r5~ Ji ~::.WI ~ ylill
infringement of the Trademarks and, ~)'I._,! ~1_,... ,,U)G. Ji ~I
in the event that any sum is recovered, .s l ..._i.__j_,! y...i ..:,,lS... ..; i ..,! Ji
PM shall have the exclusive right ~ J ' ~.)4-Jll ..;.,WL.Jj .!!~)
thereto. ___J 0fo. ~ ...;i ::.1::.fa) .oJ6.
..) ~1 t.1_,... 0J::. t..b.J r·...:.
. t4JI l.lA
10.6 The Local Party shall from time to wiJ 0- uh-JI u..):JI r~ i-1 •
time, at PM's request and expense, ~Jr·...:. ...,...U. .)c. ~~ y...'J
enter into registered user agreements •~ r~· : . fa. 4-!l......:i..
in the form prescribed by PM ~ "·r·...:." .::.::..:..:; ..s:i!I Ji.!J4
authorizing and permitting the use of ct.......-!IJ e---:1y.4JI LA~
the Trademarks as herein provided. ~}.~I wL..~1 .-1~4
No such registered user agreements l.lA ..) ~ ~ ~ JA ~
shall provide for obligations of the ::.,,_:it:. ~ L.ii ~'i J . :.WI
Local Party which exceed the u--1:- ' .l........W..JI r~1·
provided in this u.,;---hll ..,..;4 u--- wl..lyl)
Agreement and in the event of any wL.......l_;J)'I jJ~ ~I
JI inconsistency between any such • ..l....WI l.lA ~ \.# i..><'_,.-;.JI
registered user agreement ( s) uan=d~th~i~s~~~--~<.>"~·~.J~w;·~1.5;l~::.
A
~J-:1'-l~l.:..~u-!~·fJ
ement· ~hall 'mu ,.:s::i:::::J .l_,sc JI ::.ic. i...SI
~F-~- -------t--
.
prevail and take precedence. The :.WI l.lA ,.~i ::._,....:; • :.WI l.lAJ
Local Party shall, at PM's request and ~J · ~_,JJ";1 lf.l ..JfoJ
expense, execute any other document ~~ .J~ 04 uh-JI u.;hJI
and do such further acts as may be '\.+!~ .)c J • · r· u" yll. .)c
necessary to register any such ~l ~ .;I J i...S y...1 ~ J ~i
registered user agreements, or at the ~ ~.JJ_,..:.. i...SY...i ..:..1~1..?.-)
request of PM, to record the 0--- • .l4la.. ~ ' ::.fa. ~l
cancellation thereof or as otherwise .)c ~~ • ~ 01 JI • ~I 11'
may be considered necessary by PM in .::._,_i.JI • .lA ~W) • . .- . ...:." yll.
order to record or register with any ·~ ..J--"-1 u~ i...SI Ji
applicable authority or registrar the ~ JI ~ Y.JJ_,..:.. • ·r·...:."
12. Effective date, term and
termination: The Local Party shall ensure that any !'.l..-L ._>--.... ~I u _;h)I .iS\:.i
12.1 This Agreement shall take effect as 1)--o l.)+ic I .iWI I 1\ tS ~ \ - \ 'I' of its employees who have received, ~1.~_,....,:,.....,l e- 1..!.!1
of the date hereof and, unless, sooner ~ oj4J! ~ e-J L.._, ' .U......_}'j may receive or have access to know- r+1 (~ .y... _,l 1~ .l! _,i 1_,ili
terminated as provided herein, shall "--;!le ~ W I.ii_, ~.JWJI ..tll~ how, secret processes and other ~I ~I ~ t::L..1.)'1
continue in effect until .......... ...... ..$h .UyY" ~' .iia.ll confidential information do not -.>- ..tll~ .JP_, ~y.JI wL,;L...11 J
disclose such knowledge and shall at ·~->--"14 ~ .;JI wl.. y.....ll
12.2 The duration of this Agreement may li....A 0Y~ oft .loo j,YH 'l'-H all times keep all such employees .. 'J;...... ~~-'. '-.9~1 oi.\
be extended for additional periods of J._S o.l..-4 ' LS _?.I wl .fol .iWI informed of the obligation to refrain L......lc. wu_,'11 ~..) .J:!il;_,..11
five (5) years in the event that PM and U6. ~ c..: . .ly.... (o) ~ ~ from such disclosure by submitting to 11\ ,y. tLU..'J~ ->'"WI i'lj'.J'J4
the Local Party so agree in writing ._,-h..JI i.....i_µ1 _, ". r· w tJij:j! them written notice of this obligation . I) ..•--~! ~Lbc!-! ~J .. l..!.!)'1
before ...... and, insofar as additional ~.JLJ µ ~t.S .!Lr:i u-1:- . rl]ll)'I 14! 4-!t.S
extensions are concerned, that the 0LJ _µ1 tJiJI Wt.b_, • ........
parties agree to such extensions' at ~ ~~)'I .u.J4 ~ 4 Upon the expiration or termination of .l.......i..ll 1:i.._. .. 4J! _,I .. (+U.1 ,ljc s
least three months before the relevant ~I .l..-L_,..}I ~ .i...11 11\ this Agreement for whatever reason u.._j>':! Y4--iYI 0-o ~ tSY
termination date}. . J§YI u-1:- .J~ ~ .. ~ the Local Party shall cease to use and .!LJ~ ~-' ~ ~I u_µI
will not thereafter use any know - _,i ~ ~ ~i r1.i.:;.:....1 .»
12.3 Notwithstanding the foregoing and 0.,;-S~ ~ L..c .,;hill c.faA.! r- \" how, secret process or other 0--4 <!L........Jj .JP _,i ~>" ~
subject to the provisions of clause 13 (' '") o.iL....11 rlS:..i oU:.ly> (:"J confidential information disclosed to ~) f> .;JI ~y.JI wl.. y.....ll
hereof : : .iWI 11\ 04 it pursuant thereto. If any such know- u~._)_, . .li..11 11\ ~>4! ....i
how, processes or other information _,i '-..+iiJI ~I oi.l. .y ...sl p s
a) PM shall have the right to terminate .iWI 11\ <-4J! '·r·u'_j ~ (I shall have been reduced to writing ...s~YI wl.._,i...JI _,l wL,;L...11
this Agreement by giving notice of ~ ~4)'4 .Jlh:..! .. lb!-! then all - copies thereof in the Local u-3! r-L.....J ' y~ ~ ~
termination of at least sixty (60) days ~ L..>.! (1·) ~ 0~ Party possession or under its control •j-"""I o.l_p,._,..11 ~I JS ·-r·u·
prior to the effective date of .. L....,.;)'1 ~L..i.J ~.Jw ~ J§YI shall, on the expiration or termination ~I~! ..:W _,i uh-JI u_µ1
termination specified in such notice, U6. ~ ).b )'I ~ .l4.All of thi .. . J (+U!
.. ,ljc

e ~ .. I r.ic. PM.
possible at any time, for any reason 0-4 ~ tS'i_, us_, tSI ~
whatsoever, for the Local Party to o~I t)4-JI .)l..i... y4-.-YI I 1.2 The Local Party will not employ any iJ.-C ~I w_,lJI ~ Y-\ \
make payments hereunder in Dollars y. ~ }'Jyl4 .iWI 11\ ~ of the know-how, secret processes or _,I ~I ~I u.o tSI rl~I
as specified in clause 8.2 or to make .il..i...ll _,l Y-A o .fall ~ .).l:..A other confidential information U- .tlli .,;.F- _,I ~I uL,;L...11
payments in hard currency as .).l:..A Y. ~ ~I ..u.-.l4 disclosed to it by PM hereunder in the ~~I ~y.JI wl.._,i...JI
specified according to the terms of ! .l;!.J_,:.ll .lie .b-'~ ti+b manufacture, distribution, or sale of ~1 w_>-J.JI ~! '·r·u·
the Supply Agreement. any tobacco product besides the _,I~ u-i .iWI 11\ ..,.,,,..>4!
Products. · · ~ ..
t-+' tS ~
I J
I ~.J>'
· ·
b) either party may at any time, by LSI~ w~ LSY JYH (Y .ut;..:u....11 ~! '-.9~)'4
written notice to the other party ~! ~t.S .Jlh:..! Jl.....J!-! us_,
 any such proceedings are instituted .}~! _,I , .. ;• 0;11 ~W:.i terminate this Agreement. forthwith .i...___i.JI 11' .. l+l! y..YI u .)JI
against the Local Party and are not ~I ,i _;L-.&..'j,I ,i ~'/I if the other party shall be in breach u->--1JI i....il~ lj) JWI ~
dismissed within sixty (60) days: :;i....;,.:;1 lj) _,I , ~ ~W. 1... ,i of all or any of the provisions hereof rli:..i ->- ~ si _,I JS y.."11
L..;!i ~I .....t _>--1JI ..i..........o and if such breach is capable of oi....A e-J~ .J lj)J ..ii...11 11'
~J J...-:,ill 11' jA ..:..1,.1..»! remedy has failed to make good that ~l.S..) - 4,___jL:.. ~ ~~I
(i·) ~j_,.:..i:.~~) breach within sixty (60) days after it ,j!J- j~ ~ -~La...JI
\ l...J;! has been served with written notice .JL...b! jl...._;) jA I...>.! (i.)
specifying the breach and requiring it ~J ~~I ~ tj ._r.t.S
e) PM may at any time terminate this si ~ ·.,. .cs _J j~ (--"' to be made good.; !~)
Agreement forthwith if there is any J~I ~ ..ii...11 11' ,.l+i) w!_,
change in the ownership of the Local ~~~si..:...i:..lj! c) either party may terminate this I.LA .. l+i) u.)a..s'J j~ (-4
Party or if there is a governmental ..:..__...:; lj! _,I ~I u.)JI Agreement forthwith · if the ......L....iy lj) ~I ~ JWI
seizure of the business, assets or _,i ~ ..._,.._,s..:...JI o_;J~I Manufacturing Agreement, the _,I ~I ..iW J..LS.JI 04_;..JI
shares of the Local Party or, directly ,.µ1 u.)JI r+""i _,I j~I Management Agreement, the Supply _,i .l.-..:1_;.iJI .lie. _,i C U;'j,I .lie.
or indirectly, of its control and ~ _,i ~4- iY.~ - _,i Agreement or the Distribution ~ l+---J) (> I~) _,I , C;:!j.iJI .lie.
management ; . .U) ..ii J ;JI y!.'J - y!.l,i.a Agreement ceases to be in - full • ~ <.S'J ..i_,k.]I 01' .» _;i
force and effect or is terminated for
f) PM may at any time terminate this ..si ~ ·.,. .J __J j~ (J any reason;
Agreement forthwith if Mr. . J~I _) ..ii...11 11' ,.l+i! ws_,
ceases to be the owner of at least ~ ......... / .l.l.JI
- ·- • 1·1J,
.....a!y d) PM may at any time by written JL..J.-1 ·.,..u· __J j~ (..i
85% of the shares of the Local Party; j---.A Ji'JI .)c %1\0 .!!~I notice to the Local Party terminate u->--1JI ~! u--1L...:JS _;llu)
! _):.-JI u )<JI :'+'""i this Agreement forthwith if the u--i JL.L.)'1 11' .. l+l! ~1
Local Party ceases to carry on u-6-JI u.):JI us_,; lj) JWI
g) PM may at any time terminate this si ~ ·.,. .J __J j~ (j business or if a receiver or similar ,I <.S_;~I J-,11 •Y:.4- ui:.
Agreement forthwith if ~I ~ ..ii...11 11' .. l+l! ws, officer is appointed over all or any of ~Lw.i IJ"..Jt:... ~ ~ ~
governmental regulations make it ~' u.)Jl.~~::.~.J.Al~· ~-~1~j! -tf-----~th~e~L~olc~a~l
f,P~2~~~~~~:-~~~~~~~~_,..~_,r-------r-
impossihle for the Loe.a~~ · ocal Party makes any assignment • ~I u .)JI J_,....I cfa.-.!
import materials, pay for said ..il_,_..JI .:i...... ~ ¢"9.)-' ..ilJA for the benefit of its creditors or fails ~I u->--1JI ,.u lj) _,I
materials in Dollars, and/or remit wl _,LJ'j,1 ~F-' _,1 _;'i _,.i14 to pay its debts generally as they fall ~l..i ~ JjUJ <.SI ,.,..»~
royalties according to the provisions _,I '<-II •_>-iill rL...5.:..'i u,.h due, or if the Local Party's members L....'-' ~ .u.»l ~ ,.i _,i
of clause 8.2. _;'i_,.ll'--1 ~I t}.l ~ jlLi or its creditors take action or apply lj) _,I, ~ti:..L......! .l,!CI_,.. ~
. la.. wl_,u'JI J!F-'J to any court for the Local Party's ~l.l _,I~' u.):JI b.:i!
winding - up or the appointment of a ~ "-,!1 ->-I~ _,i ,.I..»!
h) if the Local Party is unable to ._...h..JI u.)JI ~ ,.J lj) (c liquidator or similar officer or if any • ~I u.)JI JL,.c.l us_,
increase retail prices as per clause ...,..._...,,. u-"-lbill _;1,,,..,.'JI o ..i4j liquidation, bankruptcy, insolvency, .....Ll._,.. _,I~~ _,I
6.2, PM shall have the right to ·.,. .cs ....J ~, '<-i •.fall dissolution or similar proceedings ~_,.. ~! lj) _,I ' Jjt.&..
terminate this Agreement with sixty )_J:,;,.) ,.U:.c!-! JWI 11' ~l+l) are instituted by the Local Party or if wl,.1.>--?-! "-,!1 u-6-JI u.)JI
 advertising literature and other _»--i:.J ~'JI ..:...\.c.~l.J (60) days notice.
materials supplied to it by PM and 4---1 ~J .Jj _;.!I JI _,..JI ..jA ..!lJj
all products in its possession and PM ..:.1 ;-·.;.11.J__.S..J • ·r ......:; i) If the Local Party does not attain the ~I w_).!1 ~ ~ lj) (.1.
shall pay to the Local Party an J.i.........'.i .J • ....___,:; j.J"'-! o.l Y!' _,..JI minimum sales volumes and/or does ~I r~I u-- ~}'JI .h.ll
amount equal to the cost to the Local ~1 wy---1:.ll ._rl) ··?·.....:; not dedicate advertising and ~)U..:...w1· · _,
- J:A~("'J
Party of acquiring the tobacco and ~ _;.!I ws:.11 ...s .J~ 1.A.4- promotions budgets in support of the ~ ..:...~1 rc.l! ~J.fal1.J
other materials (whether incorporated j~I ~..):....JI u_).!1 Products as set forth in the Third Ul~I Jfa?-11 ~ ~ _,.. y.
into the Products or otherwise) ..>--- .&._Jj y,i:. .J ' &1 > Schedule, PM shall have the right to ~·~WI u--...sl~ Ji
subject to an appropriate deduction ~ 4.-J.e u;l.S .. 1_,...) Jl_,....11 terminate this Agreement this .l..-i.JI IL.... c.\.+.i! ··r .w· ...J
in respect of any Products or >U.ly t'" (~ .Ji .:.L:;.:UJ1 Agreement with sixty (60) days ,, • ) j[.i.... ~ ..>lk..1 c.Lbcl-!
materials which are found not to be ~--t..ii .._...u.. ~~
~ L·.. a\,~ . notice. . L....J:l
in good condition;or 1.+--JI ~ JI>" .Ji ..:...~ 4.,/~
Ji I o~ .i.Jh ~ u...,J 12.4 Upon the termination of this ~ ..l.........i..l I~ c.\.+.i) .lie. f-1 Y
Agreement, howsoever caused, all .:!L.Jj u ~ L# ,j&. .):ull
,; (,II · • · I C U'.::l:;I ('-' rights herein granted to the Local ~~fa.JI cj_,i:.JI ~ Ui_,::u
b) destroy all stocks of tobacco, ~ JJ~..>--> ..

advertising literature and other y,--.i:. J ~ 'f 1 w\.c. ~I J Party shall cease and the Local Party • u---h-JI w_).!1 ~) ..ii.JI 111.
materials supplied to it by PM and 4---! ~J Jj _;;!I JI _,..JI .» .!ill shall not thereafter promote, ~ ._..b...JI w_).!1 ~ ~J
all Products in its Possession. oJ ~_,.JI ..::.L:;.:UJI ~ .J •. e- u" distribute. sell or cause to be produced l.51 t-:H Ji ~j_,J .Ji ~JY ..ill:i
.Ji! .._:jj~ ~ any of the Products. u--1c. J.-.-]I .JI ..:...~1 L>-
·~
c) deliver up to PM all stocks of the ~ •. r : .s .)1 ~J <~
Products remaining in the possession L...,.i4JI ..::.l.:;.:UJI .Y ..JJ)Mll 12.5 Upon the termination of this ~ ..l.........i..l 1~ .. 4-J.1 .lie. 0-1 r
of the Local Party after thirty (30) (r ·) ~ ~ ...:;j~ ~ Agreement, howsoever caused, the .!L.Jj u_,.i........,. L.,¥ LJ&. .):ull
days of the termination of this e:---- .l........i.JI 1» c.\.+.i! .Y l...J:l Local Party shall cease to use and 'i.J, ~ ._...6...JI w_)JI Ui_A!
Agreement subject to an appropriate ~WI vA:!_,.::ill tiJ> lc.ly shall not thereafter use any of the I.SI rl.lO..L..___..I , ..ill:i .A!~~
~~~~~~~~__;r~e~im~bu~r~s~em::e~n~tjb~y~P~M~fi~or~t~h~e~v~a~lu~e~::::~~~-::!.,~~~~~~~~~~~~T~ra~d~e~m~ar~~~i;:~~n:;:~o;r!b;1ru~1~;-~~:l~~l~:c::;~
name confusingly similar to any of the t.;..>~ l"--"'l Ji ~..>L;>..J ~
- · · f hi ~ •. ~ 11··~ .. '-'.I '-.· V-\ Y Trademarks. ..
12.7 Following terrnmation o t 1s -....,1 ........ - ....., ~
1
~~ ~~ '.. . . . u-i-.....~
'~. · ••·' I ,., ,. ,
Agreement for any cause, the Local u-i - ,,,.--h-JI u_)JI ~ • '4.,i) . ~:ill ..:...i...:w1' 0-- l.Si ~J
Party shall, within thirty (30) days of 111. L>- Lo.J:l (r ·) diX ..J,...:.OC.
.....- '.I c.'.....-..
· '"If
;
such termination, pay to PM t he sum c---""'"" 1...1I ·.~.J
,
12.6 On the termination of this ...,...,.... LS'J ..ii.JI 111. .. i+;) .lie. 1- \ Y
due in respect of royalties for the final ~ ..:...IJt......:.;:0 ~4 ~I Agreement for any reason whatsoever w>--1.JI rJi-..l:! Y4--+--YI u--
period ending on the termination date t;uL:i ~ ~I ~'+'11 •_;.ill the Local Party, as PM may within • *·f'·w" ..>~! ~ •._..h...JI
in accordance with clause 8 hereof. ILA i.>--- A oJWl ~ c.\.+.i'll [I 0, 14 or 21 ] days of the termination (Y1 JI \£ JI 1 • ) u~ ~
.Ji....11 of this Agreement elect, either : :~~.;..j\.+.i)L.>AL....J:l

a) deliver up to PM all tobacco, HI J..-S '·r .cs i)I ~-I

13.3 In the event that any party to this ..sl ~\...bJ.___,,.I r:;c. ~6. ~ r-' r 13. Force Majeure o~Wl oJill _, r
Agreement shall be unable to perform .i..ii .i...._i.JI l'.l.\ wl_):.i 0-- w_):. 13. l PM and the Local Party shall be ~I w.fa]I_, '·r·w' ..,.a.u , _, r
its obligations, other than those wL....fl"il .~4 ~L..yll relieved from the performance of their 1.l............. ...,....,...>'"! l+JL..ljJJI .1.il 0--
obligations contained in clauses 4, 5.2, <l'-o ' t) ..il_,_JI ~ oJ)_,ll obligations under this Agreement •..iJ,_JI wL..lyJYI l:;c. 1.4 .ii.JI
5.3, 5.4, 8, 10 and 11, for a ('' ' v . ' A ' f-o ' r-o except for those obligations contained , r-o , 'l'-o , q Jl_,_..]1 ~
consecutive period of three months L.l..olfa .J_,..._..!. ~•.fol in clauses 4, 5.2, 5.3, 5.4, 8, 10 and 11 1:i...__. u-- ('' , \. , A , f-o
due to the aforementioned causes. J._3...l:!' U.t.... 0.Jfi.i.J1 ...,.,t.;...'::U of the Agreement, if the performance .:i..._. .1..il uJ..i ..:..J~ 1.:i! .ii.JI
then the parties shall enter into w.lf---! w~Li.. ~ wl.):.'il of such obligations is prevented by ! ..l:!~4J, •.)41.i •.,S ..:...L..j'.J)'I
discussions with the view to amending 0----" ~.ii.JI ..bJ~ Ji.lo..'.i force majeure, namely, by the ..i.._.i L.. .Ltu...4 - wJlp. t-"-'
the terms hereo f to ena bl e sans· factory ~lC • .. ,•,•
_._._,.... · .... di -1..i\
'.<NI.; -•. •.r..., ~ OCC urrence o f events, save as - ·~I "" ~· Y-\ Y o..iWI ._,,; ..i..JJ
performance of any such obligations. ·I~!~~ r1 i:i]_, · J~ mentioned in clause 12.2 above, ~_,!-...._, o..il.J! cJlh; J=. cfa
If no such modifications can be agreed _,I '· u~ ~ ~..i.:i.ll .'.l.\ which are independent of the will and ._.....-i ..,.,C.y, lS~I ..iil...:WI w.fall
within [ IO, 14, or 21 ] days then the ~ 0fo.' L..y, 'I'' Ji 'f conduct of the contracting party ~ ~Wll ...:il..yll .:j. <l_j\M:.!
party not in default of its obligations ~~I y,t. w.)JI ~.)A wishing to be relieved of its . J.-..+..ill 1'.l.\ u-- W..i6. t.Si t>9J
shall be entitled to terminate this ..i......kll lu •l+--i! .UL.yll •1Ji contractual obligations due to the ' •.J"Lill •,._.ill W..il,p. J,W;_,
Agreement upon giving to the other u.i.. ~ u-1t.s .Jl.lu.! •l..bcl-! occurrence of any such event. Events ' ~I 'J JL_:..JI J:,... ~
party at least thirty (30) days prior u-1! Js"il ..)<:. L.. Y- (r ·) ~ of force majeure shall include, but _,I W..il _, , 11 Jl cJ.--..jl _;.:>-]I
written notice and the provisions of rLl.:..i lS~J •_?.YI w.)JI shall not be limited to : fires, _,I Jj'i..J.--ll _,l ..:...1)__ ,,. .£;)'1
clause 12 hereof shall apply to such ~.ii.JI l'.l.\ .)A('") •..iWI accidents, explosions, earthquakes, JI! ..:...~ly.a)'I JI ..:...L.;~I
termination provided that if during ~ lj) ~I ..b~ •\.+-i)'I l'.l.\ floods, strikes; shortages of materials, _,I Ulhli _,I ..il_,__.JI ~ y......11
that period of notice the party in .i..il wU.:.....I 0-- ~1 w.)JI energy, fuel, transportation facilities JI J,.......iill ~Ji J_,__j_,ll
default is able to resume performing ~ ..i......1JI 1~ "":-"i"-'4! ...:iL.jJll or labor; insurrection, war and hostile ...,.,~1J u~I _,i ! ~t.-ll
its obligations under this Agreement 'J' _>-.i.YI w.)JI .i......J j.Y>-! acts between different countries; and ~ 0--!-! ¥1..i.JI Jl,.c.';1_,
141
to the satisfaction of the other party '~1 lSI .JL._J.u)'I ufo. acts of government which interfer~e~~:::·:,1 ·:;;_,w~;.1.!:~~~Y.:.;IJ~!~J~=-1----
<Li..;:·

1~
such notice shall be of no effect and .i.__ia.\l r~1 u~>" ~;~J----+---~w~i:th~_y~-JleEi~mianee--of--tht~ ~ ~ t"' J;.I~
the provjsjons ofthjs Agreement.shaUl---------:-.~ · Agreement, provided that such acts lS..il w JL,..j'JI .'.l.\ ufo'i J
continue in full force and effect. have not been brought about by the . ~I wl_):.';1 l+c>9J .)!
parties themselves.
14. Relationship of the Parties : u1.)a'i1 LJ.H ~ -\t
14.1 The relationship between the parties ..i....WI I~ wl_):.1 0)1 ~I \ -\ f 13 2 The party invoking an act of force ~ ...sL.11 u.fall ~ .,._, r
hereto is that of independent •t.JJ'li ... U i.J:!IJl.WI ~ <..s" majeure of a nature to delay or • .J41.ill •_,ill wl..i....1 u-- W..i.... ..,J!
contractors and nothing herein shall, - ~.ii.JI l'.l.\ ~ ~ L.JA l...J suspend the performance of ~1..il ~JI .ft)! ul ~w. 0A
nor shall it be construed, to constitute w.:r-.J..ll ~ ~1 ~ - .>...ii Ji obligations set forth in the Agreement, '.l.........i..11 ~ ~_,.JI _:.L.Jil)'I
the Local Party the agent or '·r·._;· _J ~_,i '.J...#.J ~1 shall notify the other party within ~I .fill t_,i~ _?.YI u .)JI
representative of PM. Neither shall ~ .ii.JI I~ J....ii 'J .ill.:iSJ • fifteen (15) days of the occurrence of (lo}~ ~0~ u--'
this Agreement be construed as a joint r,j-1 ~ ~ Jt..,..I ..>! t Jfa .ul said act of force majeure. . <I.e._,; J 0-- L..Y-
 indemnified on demand against all and ~_,..:i~~J~I venture of any sort. Accordingly, the .j~ 'i ..tllil L.46_,. t_,; ._si
any costs, expenses, claims and J._$ ;j..-&- ~I ~ • ·f'·w· Local Party shall not have the power, 'iJ - ~)L..,, uh-JI u .;blJ
liabilities incurred by PM by reason of ..:Lllh.JI
. J 1..-i.i,.) l........ll J <-il!lS':.ll
. and shall, not hold itself out as ~'iP...U....y,u~
any such claims being made against •. ,..w• ~ .;JI 1.:.A.. _;.I)' I J empowered , to act on behalf of PM or Ji • 'i".u' .j-J:. ~~ .....; ~I -
PM by third parties. The Local Party ,.»----ill l+.o~ ..:..411.1... ~i ~ to bind or commit PM to any liability ?'ljLJI ..s4 ··f'·w' ~ Ji ?'ljl)
shall take out insurance with reputable w _r.-lJI iJ---oe ~J . •. {'· w' .l...O whatsoever. . .jl..S L,ii
underwriters in a form satisfactory to ~ ..;:,.!::. ..:.LS y!. L> .l! .).-11
PM against all such matters referred to ··r·u· ~ JL-.!. ~............ii 14.2 The Local Party shall not be entitled ..sl ~I u_)JI ~ 'J Y-1 f
in this clause. ~~I .)\..!..JI .)ya'JI JS ._.Jc. to any compensation, damages, Ji' L)JL-. ~_,..:;JI •llLS... I
. oJWI .:i. payment for goodwill that has been •(..).J4:JI ~I o_,.....:. ~ ~
established, severance pay, indemnity JI ~I I .. ~.' .:F- ...>'=>:!_,..:i JI
l 5. Governing - Law And Arbitration : or any amount for any other cause by &--4-- .s i _,i .J_;...4)1 .:.F- <fa:!_,..:i
15.1 This Agreement shall be governed reason of the termination or expiration _,i .. i.+--J'/ ~ ~I ..,...,..... L>'l
by and construed in accordance with of this Agreement in accordance with JI ..U.._,_r-.!J L.46 .lWI I :i_. <-l+=U!
the laws of the State of New York. [ its terms or in accordance with the law ~I ~J . U ..tJ .s I .j_,.iUI L.46
Insert provision regarding arbitration of any country. The Local Party agrees ~_,.:; u-1:. uh-JI u ..rbJI
including the location, institution and to indemnify and hold harmless PM ..:..1..S~1J··f'·u· ~ ~J:UJ
applicable rules. ). and its Affiliates from any suit or _,i L)~J ..si ..>- t...-1 ~tJ\
proceeding by any third party resulting ~.):!A.JI ·~ ~w.! .,l.»J
15.2 Any dispute arising under this .lWI 1:i. ~ ~ tlj.i ..si .,._, 0 from the expiration or termination of . .lWI 1:i. <-l+=U) Ji .. ~'/
Agreement or any claim affecting its • ..u:......... ._...le. _;.:;. '"-:Jl..b.. ~i Ji this Agreement.
validity, construction, effect, • ·~ Ji • ._;.I JI • ·~ JI
performance or termination shall be j-t. 4 ~I ~ ..U~) JI 14.3 PM shall not be liable to any third ~ -..l_,l..... ··r-·u· ..Jfo 'i r-1 t
determined by submission of said Ji tljLJI IL.A L_Jb.) ~.;b parties for any claims whatsoever w;t__s L,ii ..:..411..h... ~I ,:_p .):!A.JI
dispute or claim to [insert provision L& Ll.\ ~) · · · .)) -..,Jlh.JI including, but not limited to, 'i Jri,JI J.i,.... ._.Jc.., ..tl1.:i ~ ~
regarding arbitration including the ..JL...S... ~~I;..>""~ trademark infringement amLproooc:;_..;!..~~~~;.;~,;:;:,:...J~·=,,:=;,1~1------t-1
_______ j1o~c~a~ti~o~n:.~1~·o~s~ti~Wltk~unwawn~d~appp~~i~~~~-~~~~~~-~-~~~J---~11--~~~cl~m~ari~~otm~~1~~~~~1
rules]. ·(I+! any way related to, the manufacture, L>l-.i ~ [4 _,i ,:_p ~La..
purchase, sale or use of the Products ~1.;o:. JI~ ._,...._,11 o- ~J
16. Notices : ..::.al.}.la.i'il - \ 1 or the actions of the Local Party, its Ji ..:..~1 ?'I~! JI ~ _,i
Any notice, claim or demand to be given H y......lla Ji ....,.i1.1... Ji .;1.kJ ..si agents or employees, or arising out of ~ J _,I , uh-JI u _)JI Jldi
or served hereunder or in connection , .lWI I :i. ~ ya.1 ....n.....J! _,I o jU:.c.) any contracts or other commitments ~I ,:.p ~ La.. _,I , ~ _,.. JI
herewith may as an alternative to delivery 0-" 'i-l-/ jY.'-! • ~ ~ l4 Ji made by the Local Party, or its agents I+! ?"A L>~i ..:..t..j'.JI _,i .l_,ic.
in person be given or served by prepaid ._it_.. ..J! JI .i.._jLl:.c.J • ~ ~ or employees, with any other parties in _,I oL..L:4.S J Ji ~I u ..rb)I
registered delivery letter sent to the 14-----.o ~I t.,U.. J::........ y~ connection with or relating or ..s..>--:i-1 ul->--61 L>i t'" ~JA
address set out in the Third Schedule J~I u--i ~_,.JI 1) fall ._.Jc. pursuant to this Agreement. The Local _,I ..i..kll 141 ~ Ji ~ ~
hereto of the party to whom it is given or u..r-1.JI i)! .lWI 141 ~I WJ\jjl Party will indemnify and keep PM u.;--h)I '->4>--J..J. ~>4! ~
 I served or to such other address as that yL.....h.iJI JL... .J! Ji • Lbc..1 ~ ...s ~I
17.3 The terms and conditions contained o.l_;I _,II .bJy!JI J .) ~I jS...:.J r- ' v party may specify by notice in writing ..tl._G •..l.h.,! LS ~I ,jl fall .)! JI 9)
herein constitute the entire agreement , ~Lilt Jw'it JS ..fu..ll 1."JA .) served on the other party hereto or sent ~! ~ -r.L.....:.S .).bl-! u .fall
existing. as of the date hereof. d-:H • ..fu..ll l.°lA ~ju .j.o '.Jl. ,Llcl by telex. · ~~ J...>.1 JI ~YI u..):Jt
between the parties hereto regarding • ~ _,......,.. ..>" ~ ~.fall
the subject matter hereof and shall -:.L_.ili:i'JI ~ J_,.... ~J Any such notice sent by post as aforesaid -l;~ J....>.1 1:i.s ..JI.hi.) ..si fa.J
supersede all previous agreements. ~L.........JI ..:J.i:..';A.!'JIJ wL.A.ti::..11 J shall be deemed to have been given or _;Lbc.) i' ..i.i ~L... .J_,s.l... JA ~
0

understandings and communications. ·~.fall ~~I Jj ~_,&.:JI served seven (7) days after posting and .:.r---- ?~I (Y) t..,.... .Ai~~) Jj
either oral or written, if any, between .1L..I:. ~ ~ ~' w~J ..J) any such notice sent by telex shall be l.l....A 0.o .JI.hi.) ...slJ ' -l;y,l~ .UL..)
the parties hereto including those, if wl.......:.~)'IJ ...:..L.A.LLJI J ..:..Lil.i;)'I deemed to have be given or served ~ ..l._j fa. ~ J.. Y. J!.,iill
any. made by any Affiliates of PM. ...:.,... ..si ~.?.I .;JI, ~J ..;) , twenty - four hours after dispatch and in ~y:.c. J ~) .Ai <l.C~j Ji • .;Lbc..l
with respect to the subject matter '. ?· .s __J ~t:JI wlS _,__.!JI proving the giving, making or service of ~! .)J • .UL....J! ...:.,... ~L... (r f)
hereof. No agreement, understanding 'i J . .Li.JI 11' t y-<:a _,...! ~~ ~he same, it shall be sufficient to prove, .!lrl t ~! Ji ?W! Ji • Lbc..l
I ~

or communication which varies. t ~! JI ~u:; JI Jw) ...sl ,:;fa. in the case of any notice sent by post that ' -l;y,l~ ..J\.hi..1 ...si Jl....J) .UL:>. _)
modifies or extends the terms of this ~ ) J.lA.:1 JI ~ ,) ..ul..:. ...:.,... the envelop containing the same was u-1c ..S ~ ..s ~I u _;I.JI ) ..:.it;.)
Agreement shall be binding upon cs 'J L.. j1.. .l-.....WI IL-A .bJyZ properly stamped and addressed as ~Y'J I 'J, n ~U.. ~ ..tl}j
either party hereto unless set forth in a ~L.. ..fu..ll 11' <...ii _)>I 0.o u _)> aforesaid and placed in the post and, in ~J ..i.iJ .)lc.i .Jfil.,. ~
written document signed by it or its 4___.j _,... ~j&. ~ J .) ~ Y- the case of a telex that such telex was jL.... ..J'/I UL:>. u---l J . -l;y,ll _)
duly authorized representatives and u-1:- U:!~I ~ .J.o JI ......_. duly dispatched. ..i.i u&JI 11' ,:;I ..:.it;.) ~ ~4
containing an express reference to this UL:>.)~J~_p..i ·~~~J...)
Agreement. No subsequent course of ..s.i~ 'iJ, ..fu..ll Ii..))~...>'-"'
dealing or conduct of the parties. or .:.r---- ~ 'i ..!! _,L ) j..W .s i 17. General : r~ -\V
either of them, shall result in a .s-1! ~ yi JI ut_)>'lt ...,_.;\..;. 17. I All and any of the obligations of PM ul... .JJ! ~I JI JS ., 1.ii JYH 1 - 1 v
modification or extension of this . ..fu..ll 11' .i.. Ji J!.i.U under this Agreement may be 1.l............. ~~ ··t·u' Jjl.r. ~
Agreement. performed on its behalf by one or Ji o.1....:.1J 4-h..i Y. tjc. "-!~ .lklt
more of its Affiliates. Accordingly. L.iJ:._, "·1''" ~~~------t-"'-t f

______ _:l'.,..:7:.:,·;4-:-N~o~d!:.e~la~y_!!o~r-,:o:m~is~swio~n.o~J..r.ufai,,.·~111~re.":~'oU.--J,Ldi-.-iW~~~-,.:;~+4""----f..;;..----pi .L-A u...--... (.51 .1.ii 0µ .!LfaJ

of any such obligation byerfOtfifance
exercise any right or remedy provided JI~ tSI ~.JL.... .::r .......i1i.:i an Affiliate of PM shall be deemed to ~l:i ~yZ J,i_)> L.F- ..:..L._;J)'I
for herein shall be deemed to be a
....--i .ye. L..o_,.-.;.. ~1...o.;! ~ constitute performance by PM. 1,.1.il ulS _,.! L.S fa.··?·....; _J
waiver thereof or acquiescence in the JI ~I 11' .::r 'ijt:>J ..fu..ll 11' -'·?·u' U...ty
event giving rise to such right or ~ u~~! JI • cs9l...o.;)'I ~I
remedy, but every such right and JI ~I li......A "-;le..,...:;.; ..s~I 17.2 The Local Party shall not, in the •~I u_fall .,Jc.~ "1'-\V
remedy may be exercised from time to j~ LJ--S.lJ' cs91...o.;'il ~1 absence of the prior written approval 0---..o .u,..........._ ~tiS ..i.iil _,... UJ~
time and so often as may be deemed cs9L.........;J ~Ji~ JS ~.JL.... of PM, assign, transfer or delegate all JI J-i; JI LF- Jj~ , '·r·w'
expedient by the party exercising such LJ1.1. y.'J ~ 0-- JHill Ii. 0-- or any of its rights and obligations ...........S_,b ~ tSI JI JS <.JAi_,ij
._.__,_.wt ._,.;\..;. cj-o WL; ~ fa I under this Agreement. ..lWI I.lo\ ~~-ci..fl_,
right or remedy.
~I JI~ 11' 0".J~..s~I
·cs9l...o.;)'1
 ~~.;~-l
Packing Agreement 17.5 Without prejudice to any right of ~ ..;.... ..s4 J)U. )'I e-.ic. (:A o-\ V
termination by any party under clause .._j~ .,si ...,..U4" j.o ..ii.JI~
This Agreement. made this day ..••.........•.. ('.>~ ..ii.JI I.la .JY.:. 12 hereof if any provision of this l.l....A .j-.o (I Y) o.iL.JI ~ ~
of 19 '~ _,...:. Agreement becomes or is found to be .,si ) ~ Ji ~I lj) ,..ii.JI
By and between: :.:,... J$ ~ void, invalid. illegal, inoperative or JI Jl:J-i ..ii.JI I.la e-~I ->- ..,S..,.
unenforceable in any respect, the o- ~J .,si ...,S jl.illl ~IJ y,t.
a) . .................................... i parties hereto shall negotiate in good ~ ..;,l.iyhll u-OJ~ •• F.-,,11
with offices in . ..,i • fa J
.)~I . . . . . . . • • . • . • . . . . faith with a view to agreeing a ~ .)c. ijliJ)'I u-0.fa. ~
hereinafter referred to as Licensor. and i •~..;JI" :--4 .)..! ~ .._,.J! substitute a valid and enforceable ..)~ jl.illl ~I JJ ~ J..!~
provision with as closely similar effect .)~ • ~ ~ .)~ JjL.... .)i .j
a) •faJ · · · · · · · · · · · · · · · · · · · · · · · · · ·.. ,. . thereto as may be possible in the . uJ.;.bJI ~ .jlS....)'1
with offices in . .. .. 4) .JL....!..JI · · · · · · · · · · · · · · · · ..,i circumstances.
hereinafter referred to as Licensee, 1 • .iJ ~..;..11· ,_..4 .)..! ~
17.6 The various paragraph headings 0HL.l.JI ~ f'.lil.._...U i - IY
WITNESS ETH ~ L. u,Mi herein are for convenience only and .hii ..ii.JI Ii. ...,S wl,;WJ ~1+)1
~ f' ~ ....__I U.U _;JI .jl.S W shall not affect in any way the ~ y 'J J • 4:!J.1 '-.It.:..)' I "1 _,.....]
WHEREAS Licensee is engaged in the
sale and distribution of certain citrus and c---11,.. w4J~J .)~ ~j.i>.J
interpretation or meaning of the ~ .)c. JI>"' )t I ._:,... Jt.:.. .s 4
o..\._.l:.J ~ .. ~I~~ ...s1_,;J paragraphs to which they refer. The . 4,J) ~~I wl.foll ~ )
fruit juices and drinks hereinafter referred
to as "Products" throughout Egypt and ! ~WI~ ..sY,.i JJ.i Schedules referred to herein are an ~ l+:JI .J~I j_,l~I .jfo.J
various other countries of the world; and integral part of this Agreement. ......._... c.~'J c.~ ..ii.JI 11'
. ..j LW.._,
WHEREAS Licensor desires additional y,...-9 y ...,S ..,...CY- U.U _;JI .jl.S W J
sources of supply for Products to be w~I ~ .._.;t..o) ~.JY .;.it.-..
In Witness· whereof, the parties have ..;,U YJI '-:-'L....;i f'.i..___ij W wl,u)
packed from ingredients obtained and/or JI ~ J_,....,.,...11 ~ wlifi.. .>o caused this Agreement to be signed in ~~..).!.4...JI~
supplied by Licensee; and LI~.JYJ l+:!lc. J_,....,.,...11 _,i lA~.JY
! ..j .
[. ················ . t:!9 ~
duly authorized representatives.
WHEREAS Licensee desires to process,
pack. store and handle Products for ABC company
Licensor in accordance with the terms By ---------------------------------
hereof.
Philip Morris incorporated
NOW. THEREFOR, in consi deration of0
wl~IJ .i~_,ll . . l!U.. ~ .i...i!-i I~ By ----------------------------------
the promises and of the mutual covenants I.la ...,S ~_,.JI 4~1 ...:..liliJ)'IJ
and agreements herein set forth, the parties : .)..!L. .)c. uli YJI J&J) ..ii.JI
agree as follows:
 (b) Licensor shall be solely responsible • ..i........,.._, 'iY...... ~yJI .:_ifo. -y 1- PRODUCTION: : (:l:i.o~I -\
for the invoicing of its customers for wt.;..::u...}I UC. ~ ~Go... UC. Licensee agrees to perform at its plant in ..) ..S.l.J:! l.) ._..le. .U ~_;JI ~I>.!
Products sold to them and Licensee ~yJI ~l>.!J , r+:1! ~4-JI all necessary services and .J_S . . . . . . . . u--9 .)L...S.11 ~
agrees not to accept any payments ..:..~_,s.i.. ~i J..,.;S ~._..le. .u provide for Licensor all necessary _r-i>.! ,) J • ~.JJy-C.11 ..:...L...i.;.JI
from Licensor's customers. . ~yJl .. ~jA facilities and equipment to process, mix . wl.l.-A....11_, ..:..~1 JS ~.rll
code. pack, store and handle Products ~ J Y,.< y J ..6b. J ~I......! "- _i)UI
3- REPORTS: : y_fa:.11 - ,. listed in Exhibit "A'' annexed hereto and ~_,.JI wt.;..::u...}I :U Jli... J .Y.fa J
Licensee shall deliver to Licensor such ~_;JI u-----3! .U ~ yJI ~ made a part hereof in strict conformity ..i..__i,JI I~ ~I ( i ) ~I ..)
reports in such form as Licensor may w 1..5i...JI ~~ o .;,Si.JI ..):!.;li:ill with the formulae, instructions and WL.,i:S.Jill L..L.:i ~~ ~ .U ~I J
from time to time reasonably request ~ _p.'J .).!.>.. 0-< ~yJI ~ specifications specified by Licensor. LA.l~ _;JI ..:...l.i...ol_,.JI_, w~I_,
including reports showing packing ~I ..>.!.J~I ..tlJj..) ~ J_,h.. .~yJI
supplies purchased. received and/or used. ~~I ~I wl~.JY ~_,:;
products packed and/or shipped; and L;< 4i _,j 4--1.l.il...l s 4-:Jil:js I.A _JI~ 2- PACKING FEE & INVOICING: : ~~IJ ~I yi...;i -Y
inventories of packing supplies and ..:...-:; ~I ..:...t.;..::u...}1 ..illjSJ I ~ (a) Licensee shall invoice Licensor once ~) o_;ji\.i ..iJ ~yJI J...;,o - i
Products on hand. ! .!LJjl)-yi _,i ~J~ each month for the packing fee for all ~I~ o.AI_, oy ~yJI
wl~.Jfo ............WI .l~I ~1_,s_, Products produced for Licensor during ..:..\__;..:il.JI JSJ ~I ...,_,wi :.F-
.• _:,.4-)1 wt.;..::u...}IJ ~I the previous month. Each such invoice ...J)L_.;,. u-=U..;JI cJL.. .,.1 ~t
shall be for an amount calculated upon •.JjiLi JS .:.ifo_, .~l....lt ~'
4- STORAGE AND HANDLING: : ~Ju..llJ 6'~ -t the basis of the fees set forth in "-!l...o. f>.! F. .y:. J!.!i)t 1~ .»
Licensee shall store Products for cJL...:.I ..:..~1 .U ~yJI ufa Exhibit "A" annexed hereto which ~ .u....:o_,.JI ...,_,w)'1 J"t......l ..,le.
Licensor in Licensee's plant and will. in .i......J ~_;JI~~ ~yJI amount shall represent and be in full • .l....i..ll I~ ~I (I) ......&.!S.lt
accordance with orders received from ~I..:..~~• ~ rfa.-' payment of Licensee's profit and all J--A .:_i~_, C;---4JI Iii. J..,.,iJ
Licensor. load the same on carriers as W:::ULJI ~ • ~yJI .j..o lAl.ih:! other costs and charges including ~ J..L...S.14 t.,S.i..11 Jili...lt
selected and designated by Licensor for ~_;JI~-' L...;~ .;JI labor, overhead and miscellaneous 0-< .!lJj Y-6J ..iJ u-=U..>-11 c4)
shipment at the expense of Licensor to ._..l! ~yJI ...,_,t...o. _)c. ~ supplies including trays, shrink film, ~ ~ ..:.1.i_,~1_, U;)~I
the destinations specified by Licensor. In ,ljc _, . ~yJI l.AJ~ _;JI ,:..::..:~:·:':_
__ -J:~---~a;:ll~~~~""'_et~--invoiee-shatrc::::JCUJ1 ~.;~ ..L....rl
withdrawing Products from invt>.DID~-for leie M ~~ ~ also include such information as ~_,~WI ~) .....~1_,
shipment, Licensee shall, unless ~ t1 L..) WIJ .<J ~yJI rfa. Licensor may request to permit cross <.Y.JU.-11 ~..) ~ wl.l,!.;_,.>ll
otherwise instructed in writing by ~ (..illj ~ ~yJI u.- 4-!t.S reference to the other reports .J_S_, ..k~i f":!y...:;11 ,.~_,
Licensor, always ship the oldest products .l--...ic.. "-ll ~ ! 'J_,I ~~I ~I submitted by Licensee. Licensor shall . ~_,, .t,...11_, ~I .ll_,...!t
first; that is to say, in withdrawal from ~_;JI r~ i:,_,µ1 y ...,.._!I pay such invoices promptly. ~i •.;jiLl .J_S ~-'
inventory Licensee shall adhere to the .''J_,I C~ 'J_,I ~.lL.." •~Iii .U ~ .l..-..i ~I ..:..L...._,1...JI
rule of "first in, first out". Licensee shall J_S Lr---~ "1 ~yJI ~..>.!J l+---.:ilA~ ~~~_;JI
attach copies of all loading tickets (or _Y.-.i:..J (1.A_;l:.~L.. _,I) ~I ~1_,s 0- ""-.......lWI 1..5_p.)'1 ....>:Uli::.14
equivalent) and other supporting ~I ~~I.ill Jl.J_,"Jt L;< ..illj ~yJI ~J . .iJ u-=UyJI
shipping papers to Production Reports u-=U..;JI rfa. _;.II cl:.;)'1 ..):!.)lii t:'" . JWI ~ _»;l_,ill • .i. ~
prepared by Licensee pursuant to Article 0---- (r) o.lWI ~-'41 I.A~ .u
 (3) hereof, and mail the same to Licensor ..r--1.1 ~J:>!L.i i.+L---Y.J , .li.JI l'.i.
Licensor may from time to time make ~ 'i w...___i J j.o ~ .r1l j~J as often as is practical. .!Lh .:;LS WS ) ~i.i __,....,;,,y.11
reasonable changes in said specifications .i.....A u---i 4.....__l_,i... ..:;1~ ~1y...1 . ~I ~\.:JI .» l&...
or in the containers or designs of any of ~Ji ..:;1~1 ~Ji ..:;~1_,..J1
the Products provided that such change .) .b~ ..:,~I .J.o ..;i ..:,~ 5- SHORTAGES AND LOSS ~ c_.........i1 ~J ulj~ -o
does not require a material change in the ~~I~) ~11~ ~')' ALLOWANCES: : .i.ili1I
processing or packaging equipment -...._.y..11 wl.i.....a..JI ~ ..S.>--AP.- Licensee shall, at all times. be WU}"il ~ ..,i ~ __,..,.;..y.11 .:;/.-!
required. All Products packed by .) .&J~ ~J . ~I Ji .4...:,.JlA..JJ responsible for all packing supplies. ~I wl~J_,'.j j..._S $ 'i Y,.....
Licensee shall also comply with all ~I>! >4---.JI w~I JS jfo Products and all other property of w~ j.o ..illj .ffe J .:.~I J
applicable laws and regulations of the ~I _,ill JS t-" ~ ....i __,....,;,,y.11 Licensor in its care. custody or control, ..J ~ y.11 o..i+-c. ..,i _;.ll __,....,;,, y.11
Licensor governing the manufacture of ~ y.11 ...5 .ll 4-! J_,__.ll c:'l ,J.ll J and shall be responsible to. and shall .:;~ L.S' .Ul~!J ~le..)~,
food products. All Products packed by :_;foJ. ~1~1 ..:;~1 ctu) :.;~ reimburse Licensor for any unauthorized .j-.&. ~ YYJ ~ y.11 c'L.i ')' Y,.....
Licensee hereunder and the containers, ~ly o~I w~I µ usage or any unaccounted for or ..;i ,i "'---! C->-" y,t. c>I~ ..;i
and cases in which the same are , .l.....kll I~ ~>41 ..J ~y.11 unauthorized losses or shortages of such y,....e. JI • JY.-' y,t. wl j~ Ji ..iiu
packaged shall be in good, clean, sanitary 44 4-.J ..;JI ~.lli....JIJ , wl _,,...11 J packing supplies. Products and property, ~I wl~JY ~ 1+! C.->-"
condition free and clear from any foreign ~ J o~ "J~ ..,i , wl _,,...11 ..ill:; or for damages thereto. regardless of the w~I ~ Ji l+--:!)1 JL..:.....11
substances and shall be strictly in 4.;t.o.ll.. ~I .J.o ~~ J , ~ J cause of such unauthorized usage. losses, ~ wt.,,it ~i .» JI wtSt.......11,
conformity with the standards of L.....L...'.i ~Lh.. .:;fo j ~ L.S ' shortage or damage, provided, however. 1w~~µ1~1+!
sanitation, quality and packaging L..:..,uUJIJ o.l_p..11 J ~1 wl:!_,:;.....l that in packing Products hereunder .li~I Ji ~ C~I .ffe c'l.i..;.:-....)'1
specified by Licensor. . ._.....i.y.11 IA~ ..;JI Licensee shall be permitted the .i.....:.c. ......___;i ~
, ~I Ji ft.-JI ,i
processing loss allowances specified in , .l-..i..11 I~ ~.. >41 ..:..~I
. ...:.....:;
.
7-TECHNICAL ASSISTANCE AND Exhibit "13" annexed hereto and made a .li\ill ~ ....i ~y-LJ ~ ..,_;~
SAMPLES: part hereof.
( ...,_.) w..:.s..11 ~ .~I "'-;JL...JI ..,i
Licensor shall at its own cost and ..,....~1 ~~ ~ ~y.11 .lJY.
..__i ~ y.11 L....,,WI ..___:;cw J . ..J ~I J .li.JI I~ ~I
expense furnish Licensee with such
qualified technical assistance and - •LiJ ~·-'-'I ~I o.l<:.L....l4
r-- ..r- l+..)>d~')'·---4----'9-
I •;;..1 u -;II_.
SPEetF : .:.~1_,..Jl -i
su~rvisory personnel as Licensor may
~y.ll '-:->:!y:J ~JJ.r"<> ~y.ll All Products packed by Licensee shall be ~y.11 c'~ ..;JI ..::..~I JS 4-.J
deem necessary to instruct Licensee in
_ .,,~11 .b.bJ J.).JI ...,......1 J~ ....i packed in strict conformity with L..W ~U...... _:;fo ~ ~ ....i
the proper rmxing and packing of
(;..- Licensor's instructions and ..::.iL..&.....1_,..J ~->-11 .:..~ t-"
Products in accordance with the r _,_...i._iJ • wL..i...al _,..ll ~ ~J
~JY--! ~L__... ..,..--Jc.. ....i ~y.ll manufacturing specifications as from ~ 'i ~ .» ~ ~ (l:U'JI
specifications. Licensee shall, at its
>4--Ji w~I j.o ...:..~ ~y.11 time to time amended in writing by t-" Ji.>" J ' ~ y.11 4...\-1 ~ ~ti.$
expense, furnish Licensor with samples
~ ~4 ~J ~1 1~ ~~ Licensor. A copy of such instructions and .>--- ~ ( ...,_.) ~I ..,i .u..11 I~
of Products packed hereunder and with
u,..:.ll ..:..l~JYJ ..:..u_,s.JJ ..;__p.i manufacturing specifications in effect as (~)'I w~l>"J ..:..~I.»
such other samples of ingredients and
~->-11 ~ .li ..;JI of the date hereof is attached hereto as . .li.JI I» ~JI;, .:;,. l+! J _,__.)I
packing supplies as Licensor may from ~ i)--o
J_,i... JS..!.! _j. 'J
Exhibit "B" .
time to time reasonably request for • o.l ~I ~

quality evaluation. Representatives of ~y.11 ~ _;.,. j.o .:ifa.J

 against any and all claims, liability, .l....-..A ~ } • .)t.....;. .Ji .-1..>J) .Ji Licensor shall have free access to ~l~.J~l~L...~...>'"
loss or damage against or by a third ~.) ~ y,i.11 ~4- 0- .Ji Licensee's plant and packaging line at ~ ~ 4--J ~~ ~tJI
party lodged within the Arab countries c.r-" L-..$). ~yJI J.J.l!I ~IJ any and all times during which Products ~~H~1..::..\.i.J)'1
(as hereinafter defined) arising out of (~I li.-.A ~A!~ oJ.a... are packed and to Licensee's storerooms ~L... ~...>'" .!L..J~ .J ' ..:.t;.:..Wl
the condition of packing supplies i.r- ~11 ~I . ul,i,..JY• A.JW ~.• where packing supplies and ingredients ~ ~ ._;JI ..J ~_JA!I .jj~
supplied by Licensee provided that 'w ~_>o.11 lAJ,!.;fo. .-.Jil are stored. Licensee agrees to maintain . uw _,s..-Jl .J ~I ulJ,!.;ji ..)!fa
Licensee shall not be liable for any 'iy.._..,... ~ _>o.!1 ufo. 'i USJ.J all Products in storage at the l.L.....fu.)'1 ~ "-1 ~.,.roll .j!l>.!J
claims, liabilities. injuries, damages. .Ji ..:..L..1..>J) .Ji w4Jl.b... ~i .:_p. temperatures specified in Exhibit "B'' ..:.4 ,;J ~ ~ .Jµ1 ut.;..:lWI ~
lawsuits, costs or expenses arising in .Ji , ~l.M.i .JI w4it .Ji ..::..4t...a) hereof. ('-:-') ~1...-9~,,.Jl>)yJI
any way from Licensor's negligent l.S~ ~fa ~)·•""-"} ~ . Ji.JI I~ .j! _JA!I
operations under this contract. ..,.,_;4 u----. JI,... 'II u-lc. ~
c' ~ u=JI u4l-Jl ~ ;y:U.->'°11 8-WARRANTY: : U~ -A
. .li..ll 11\ ~~ l+! Licensee warrants that all Products j.._S ~u.... ..._j ~.,.roll ~
packed. stored and handled by it will be l.r-l:!fa .J ~ e .Jil ._;JI ut.;..:lWI
Licensee further shall hereby 11\ ~~ "-1 ~->'"11 uA~.J in accordance with the specifications, and ..:.WJ.u,J J , .:..Li.....1,...U l,..;J .Jt:.... .J
indemnify and hold Licensor harmless i.J--o .u...l i.S ~.J ~ _JA!I Ji.JI storage and handling requirements LA~ ~I ~JLWl.J .J!_;.;..:JI
from and against any and all claims, .JI .-1.J....-J! .JI ..:..411..h.. ~i .i..o .J supplied by Licensor and Licensee shall w ~ ->'°11 ufo..J , ;y:U. _JA!I
liability, loss, damage, cost or expense .Ji W:)L..Sj .Ji <....i..._J;j .Ji •.;t.....;. be responsible for all improperly r.:i:i .,.--:JI wt;.:..WI JS j. 'iY.,...
arising out of the use of any of r!-~L.-..) ,Y:.. l..!U,i ~ ~.;l.....:...o processed. stored or handled Products. ~ ~ .Jl.i.. .Ji l+i!.fa Ji ~L...
Licensor's trademarks, brands, .JI Lu4=JI ~I 0-- i..si ·~Ji:.
markings, labels or designs. ( The uL...::l..ll .JI ' • ~I w~I
provisions of this paragraph shall i ..),!-..JI UL..Jlh,JI .JI , •~I 9- INDEMNITIES : : ..::..1....4....PJ -~
survive any termination of this !.S~.J) ~I .Ji , ~ a) Licensee shall defend and hold ~_JA!I .:_p. ..J ;y:U._JA!I ~IJ,! -i
Agreement ). ~lt-)!i..sl ~>fa.II • .:i. r~I Licensor · harmless from and against L:!i ~I>° ~.J j.o .u...l :.S~J
. (.li..ll '~ any and all claims, liability, loss or .Lo) · ,i "~,.:~!
'""Jit-._,...:;:Q;;:U:::;:::..------
4.--:1':'::"'1"''.'T".=:"":---+-----:amagc-agalmrC1censor occurring in ~ ...:.J........>o.:i ~ ->'"11 .i...o ~
,~;.:; u- 1~ -.. ,_,
.i-.. ..

-------~b~) ~F~o~~r~th;e~purpo~2se~s~o~f~th~is;A~gr~e~e:m~e~n~t,-~' and lodged within the Arab countries L..S) ~_;a.JI JJ.i.11 ~l.J ~YJ
- :tr Countnes'' shall be deemed to 'i! ·~yJI J_,.l!I' ~ ~ 'i (as hereinafter defined) based upon or .Ji ..s-1c- ~ ~ (A! 1.4 • .l.h.o ...sA
include only the United Arab uL....&..J •~ ~yJI wl.;L.'/I arising out of the active or passive 0- ~ Ji .r.~ jt.... 'I ~
Emirates; Oman; Qatar; Bahrain; ~fill.J 0--u~·~ll.J >--1:-i.J negligence of Licensee, its agents, .Ji ~ .J .Ji "-1 ~ _>o.11 ..,.,_;t.;..
Kuwait; Saudi Arabia; North Yemen 0 ..~!l.J ~I ~l.J ~_,....Jl.J contractors. servants or employees in ~>".J; ~~) ~.Jl.i..
and South Yemen. ·~~I the operation of Licensee's plant, or in •W~_JA!I~~~
the preparation, manufacturing, .Ji..:.,t ?'•i·ll~~.Ji
8. INSURANCE : :~-A processing, packaging, storing, .Ji~ .Ji ~L... .Ji ~
a) Licensee shall, at its own cost and u-!c. ~.J "-1 ~ _JA!I .) ~ - I warehousing, or handling of Products. . ~ .Jl.i.. .Ji 4-hh .J; l+i!fa
expense, procure and maintain .i_.;., ~U:. u-lc. ~~ ~~ Licensee hereby shall indemnify and lie.~~ ..J ~->'"11 uA~J
insurance covering his work.men i.JI~ ~ ~ J,....ll U-ll_,,. hold Licensor harmless from and wWU.... ~I ,y:.. ~ _JA!I JWI
 either party on Licensee's premises J._.S~~~t.......J against work accidents in respect of "-:!~I ..:.~1......)'1 Ji C1.J.J'i1
and insuring both parties against all .JL...ic. i) u.). <..Si wlSL...... loss of life or bodily injuries in ~~WI Lr<>:!_,..; JJ.i;..l 1i,i1
risk of loss and damage to the full :LS ~ 04 j,!.J ~~I I ~ accordance with the Workmen's \ '\ A • "-L.....J (A) <'-9.J .jy\ill
value of the property insured. _).~ J._S .l....-.>.4 0,;i .)JI Compensation Scale oflaw No (8) of Ji..J4.J J,.....11 wl.5~ ~ ..;~
L.1..1.ill ~ • . ULJI .J ;. .)~I 1980 regulating labour relations. ~_,~i<l..!~~1..)y,•
. ~ 04 _;.JI w\St..ll Similarly, Licensee shall also procure 0:--~ <L...,jlii,;J "'-!L....:.. u-1=-
and maintain at its own cost and J._S ~ ~L..JI :..>4:!_,..;l
c) The insurance arranged under Article ~I w~bll ..;_,_.s:, ---'?> expense Workmen's Compensation .j_,.._.h~ J......J 0,!.lll "-,!J.! ~WI
I 0 of this Agreement shall be primary .li..JI 1» L>" ( \ • ) oJWI ~ r! Insurance covering all of its own ~I _,ii li,i1 ~ ~~I .Jlic
first layer, and to the extent required .J-A L.. .J.li.!.J I ~J+oo .).Ji ~ employees who may enter upon .. 'i j-A u---1=- <..S _y.;4J ..;.JI .U.J-lll
shall comply with the provisions of .I,,$~!"~)' ~ y)h.. Licensee's premises in accordance cJ--..,UI _,ill li,i1 ~ .J I ~WI
. .. insurance company and ~LS,, 0_,;li _, , 0:--hll ........ with the laws of the country governing ......... i) !+:> J_,_...JI
Insurance Agents Law No (9) of 1984 \ '\ A f .u__...l ( ~ ) i--J.) ~l.::.JI such employees as well as applicable
specially Article (6) in respect of ~ L.,i! ('\) ~.J oJWI ~'i laws of .
property located in and liability arising , ~ o.l~_,..JI ..:.L..SL....J4
within the territories. ~LJI ~IJ ~ u=JI ~ _,;.....JIJ b) Licensee shall also procure and ~i .bi:u....--' ~~~I ..)y, -...,,,
maintain: :~~
d) Licensee agrees to furnish to '°~ 1) ~ ~ ~~I ~1 y, - J
Licensor fully paid certificates of all "--..c _,!J.o wl.l~ ~~I .)! I. Public liability insurance including u-9 ~ ~~ 9_,.;...... 0:--b -\
policies of insurance required 0:--1.::.JI u...JIY. JSJ J,.~ ~ Products liability covering................ w~I ~~_,;...JI ..ill:i
hereunder stipulating that the ~ .li..JI 1» ~>""! ~_,J.h..ll with limits for bodily injury or loss .lJ~ ~ ........ ~
insurance will not be canceled, ·~,,I
•jW) ~ c) .):Abll ,) of life of not less than U.S. ,,i ~I ~L-;:U ~4
changed or allowed to lapse through ,j.......J:. ~ .. t...:oi;l-/ ct....JI JI 2,000,000 per occurrence or in the ~~ W&- J;:,'i clJ.J'il ul.lii
non-renewal or failure to pay the W&- ......ah:JI ,,I ~I i"J&. ~.). aggregate in any insurance period ~.,;ol .J'i J.l (Y, •••.••• )
premiums therefor, except upon not .r.L.:.s ~!-! 'i) 4WIe;!J and extending cover.~ag~e~t~o;aJ~l~Ara~~b~~.;~; ~-;-~,l~,~»J,',,~··~·"6""'~-t:IS:is-uo:~------1
less than thirty (30) days prior writttte:n~~L-o~y,~~~·
notice to bot · · ensee, c d
;-~·
u-
;·~.:,~_,~;.,~t~~~·~~I··::;----jr--~~~tries-as-detitre"B~m
y,
Article 9 (b) • 0:--u •Y--i ~I~~!
hereof subject to jurisdiction of such ~ ~L:.!1 .. u....i1 ~.J
for a period ending one (l) year after .l........o./ ~ •y&I ~ ~~1,, Arab Countries; and ~ L.S ~yJI J.J-lll JS~
termination of this Agreement. Upon . .i......WI I» .. ~) L>" .Al.J '°~ 0--- (..,,.-~) >JWI ~ >JJ:i.A
receipt of such certificates, Licensee ~ wlJl+--.!JI » ~ J,jc..J 0 •~I.>-~ .l-.i...11 IL.
will pay Licensor the sum necessary to t--4JI ~~.)!~~~I J,J-lll ·~ ~1....ai.11 <>'"~)'I
cover the additional premiums ~)'I .l.L.J'\rl ~ i",y..ll . ~yJI
involved in obtaining insurance for 0:--~I ~ J~ ~WI
.. .. . as provided in subparagraph (b) <>'".,,..W Y. l...S ........ ~ II. Property damage insurance naming ..:,~4 .;~I (.;&- 0:--b -'!'
above. (Y) ~_Jill •~I ~ ~ Licensor and Licensee as coinsured, ~~l.J ~~Ir"")~
.• ~I subject to their respective rights and La..o 4:!lc- ~,;... L..t.&.....Y. ~
interest, covering all property of 4-l.. ~ ,,;,,a.. -~I .,;o (:A
 action. orders or regulation, and any and ~ .tl\j ._Y-C. J .:.41 y.:..)'I J y _p..llJ 11- TITLE: :~~-\\
all other matters beyond the control of _,i wLl.rAJIJ ~LuJI .:.~ljlll Title to all products packed by Licensee ~ H .;;JI wt+>.WI JS J,h:i
the parties. ~J, ~_,s..:....11 ~l_,lll Ji yl_,'11 shall remain with Licensor until shipment ~~ l.il. <\J ~yll ~ly
~ ( _r--.;..; ._;;!I ..S ._?')I Jjl......JI and Licensee agrees to keep all of -..._j ~ yll ~I J:!J I ~I ~
. wl _>6\'1 "OJI _;1 Licensor's Products and packing supplies ~_;.JI w~ ~ ..l;~)'I.).:.
separate and segregated from those J · ai;. ,jlS.. ~~I ul.l;!_;y_,
14- ASSIGNMENT: : JjU;.ll - I t owned by Licensee. Also, Licensor's ~yll ~._,:;.!I -!ll:i .:_p. ~J
Neither party hereto may assign or _) .i.......i.JI 111. ~ u_>-6 0\' j~'i Products will not be comingled with ..:..~ .h.....lw 0-1 ~J ' <\J
transfer this Agreement or any right ~! ~ _,i .ii.JI 111. :_;e- Jj~ Licensee's own products. . <IJ ~_;.JI u~ ~yll
hereunder without the prior written 0J-L.-! ~ ,j....-:.. ..si ~ _,i >-'"-11
consent of the other. w _;..-.hll 0-' ~ ~US .Wlyo 12-TRADEMARKS AND :'-,i...-JIJ~~-IT
. _?YI CONFIDENTIALITY:
Licensee understands and agrees that the 0i ~ ~ly,_,<IJ~yll~
15-TERM AND TERMINATION: : ,_lf.i)'IJ ii-WI - I o formulae, packing techniques and wL.i....nl_,..._, ~ ~t....i_, ~_;,
This Agreement shall become effective I ~_;l:i 04 l_;l,Uc.l .ii.JI 111. ..;~ specifications of and for Products, and "---:i_;t.;.:JI 1..:.L ...)A...JIJ w~I
on the date hereof and shall continue in ~~! ~ J.,.LS.14 ".Jyy- ~J the trademarks aforesaid are either the ~ ~ isi, l..) u'" ~L... • _;fi.l...11
full force and effect until terminated as of ~ 0i ~ 0~ ..?i..:,,.. i_;t,uc.!
sole and exclusive property of or under I~~~ Ji I .1,.. LJJ.l O~J
the last day of any calendar month by .lL..Jj J u .>6 .s i ..,.U4. ..:,,.. 0 ..l:4-- the control of Licensor, and Licensee wt...:::l...ll~~~yll~J
either party by giving the other party not __r--:.. YI u _>----h]I c. Lbc.) d:!.>6 :_;e- acknowledges the validity of said ~ yll ~I Y-J , o Jfii..11 ~_;t.;.:JI
less than ninety (90) days written notice ~ :JC- ~ Jj:j'i 4!WS I _;l..b) trademarks. Licensee agrees that nothing ..i.._l.JI 1.:i. ~ ~ ..:,,.. I... ~1 u-k <\J
of such termination, and any such i...,iJ~'iJ .c.4-l)'I I~ l..J:! ('1 ·) herein shall give it any interest in the ul......)l..JI ·~~I~
cost or ~~I J,.,iill 111. 0-- c.i+;) ..;I u-k trademarks aforesaid or in any label,
~ - - -
termination shall be without ~j ~ _,i Li;i Jfii..11 ~t.;.:JI
obligation by one party to the other j----5...YI w_.>hil w_>-6..:,,.. i>',.;l! Ji design, advertisement, etc. used in ~~_,i,~•~..:..~
except as otherwise provided herein. 1.l......\ ~~· .!LJj Y.F· ..s-- -·- r-
1- '-""':! .It,. connection ·therewith, and Licensee ~ ~ giJ:k.~!
L.... ~:·:,.;)~· .J:ll:,__ 7
. .ii.JI agrees to keep said formulae -~1,,,__,.~~
t uL.4.JJI ~~ ..l;L.._j;,,,.)'1.).:.
This Agreement shall also - :li...11 1.:i.
~
.. uL-.....i-1,,..JIJ ~I ~I_,
-------·mmcdfate m e event of default by L.11.:.. ~ _,i u_>-6 01 ~ ~ . •_;fii..11
either party or in the event either party 01~_; 1:i1 _,i w.,,.__.l:. 01 _;1......c)
becomes insolvent, files bankruptcy or a ·~U...i_;_,i ~!o~Jufa 13- FORCE MAJEURE: : • _,.I.ill •
_,&11 - \1'
petition for bankruptcy is filed against it ~
~1. n11 ·.I . ·'IJ~
...._.""""!, ~ ~ J (Y..l-1 ...)C-
Neither party shall be liable .for any 01 0-' yy__,... w_>-6 <.SI ufa.'i
which is not vacated within ten ( 10) days -sl L.11.:.. ~-' . l"4i ·~ uy:.:.t..
delays or failures to perform any of its ~-sl~uc-~_,l~b
or if either party should file a petition in JS ..il..U ~I
wlS.t.... 1,:i. L;< c.i+;) obligations hereunder due to any causes ~y ~ ..lWI 1,:i. ..,_.,...JAi .Ul..ljll)
and of creditors: In the event of any such ~~_,l~~~yJI or contingencies beyond each party's l.J....-&. ~fa ~_;U. u_,_>l;. _,I y4uoi
termination any and all property of ~yll .)) Jb.JI ~ <\J ~yll control, including but not limited to fires, ~ u.i L..i 4J... JS •.):..:... '3Lh.i
Licensor at Licensee's plant or plants ~JI <\J ~yll yt...:... ~ accidents, acts of God, war, strikes or ~l_p..ll ~I 'i JlWI ~ ._,.k
shall forthwith be returned to Licensor l"l..l.il.._....) 1.5i UC- l_;_,5 <\J ~yll other labor disputes, governmental _;.l.-ill_, .. ~ wl~IJ Wil~I_,
 at Licensee's expense and Licensee shall ~ ~I "-----:!.J4":JI ..:,,t...)L..ll
immediately cease any and all use of .JI .UI ~'/ ~ u=JI Ji ~ yll
Licensor's owned and/or controlled . .Uly!.'J ~J ~ u=Jl
trademarks.

16- NO JOINT VENTURE: tJ~ L....J- ~~l -\ '\

:l!l_;..!...Jl
Nothing herein shall be construed to ·~ ~ .li....ll I~ ui ~ 04L..
create any agency, partnership or joint .Ji ~Iy!. _,\ j,jts J ~I ~ ~I ~
venture between the parties. · .:»!.)JI ~ .!!_,::..:.... tJfa

In Witness Whereof, the parties have .>---- .li....ll I~ .JY:. • c>..liJ W l:i~!
hereunto caused this Agreement to be ~ _,.,.._; .)c ~.J&A!J .:»S.)JI

~~'~' duly executed the day and year first ~ u-:Ufii.JI ~IJ c>~I u9
above written. ··~

---+--- By
Witness: .
........................................
.... ... . ........ .
:..::..~_,::J1j
..... : .l _,_....;JI

ii.I.u'-Wll
. a;;al:;i,...t"itll ;n~
I
Or
 Jg!JI ·•· ,,o.ll

- sole proprietorship ~.) ~y.:.-

- partnerships. firms ,y>~Y I ..:...l.S y:. -
~· ~I
. ·- .11 ..s--
;_j.r- 1~ f',....
•• ..:...l.S >"• )
( ~ ~ L;~ .l...:i 'iJ, ,LSy:.11
- corporations :i1 o> ~ ..:..1:i ..:..lS~) jl _,..y1 ..:..IS~ -
y...---Si F' t!u. ~ ~ ~.)~I
.» .;.li
(.J"'~YIJ JWI
- companies of mixed character ~I ~I ..:.,lj ..:..l.Sy:.11 -
( ...rIWI J . ->.~II · L..:ic. 'ii · •)
...r-- ..Y-.J . ~ ~
- general partnership j.ol...4i ~~ -
4J........... ............ ~ • -
- special (limited) partnership . . . " >"
- partnership limited by shares ~y4~,:;~y.:.-
- limited liability company •.lj.l.:>..o 9,..... ..:.,,lj ~~ -

- joint stock company ........t...... :i.$~ -

.........,h.., :i.Sy!e -
- particular partnership
- subsidiary company ~w:i.S~-
- parent company e-Y'
~y:.11 -
- holding company. ~lill ~ y:.11 -
- business trust ._s}.;.::. ._s_;l.S:a! .l~! -
- joint venture ..!!~ )-·~-! tJY:... -
- consortium
- consolidation ..:...lS~ .l~! -

~-------------n'!eT er
- conglomerate
..:...LS~tl...lJ.I -
..:...lS~~-

- partners ,l.Sy:.11 -
- general partner ,.joW.....~~-
- limited (sleeping. dormant, ._rA,.. ~~ -
silent) partner
- incoming partner ~~y:.-
- nominal partner •~ _iJI ~ .-J IJ"'I ..,...,.1 ~y!e -
- sub-partner ..:.J.411 .» ~y.:. -
 yt'i'.6) •Y:.. - -promoter ~ .;_;~ ~) ~y!JI U"""'Y -
- prospectus JWI V"i _; r+""i - ~l:; ul~lfe) ~ ... ~I ~I"'-!
- capital stock. capital shares
r+-"'11~- • w~ 'i .} • w~ .i......JJ , ~~1
- allotment of shares ~..l~ r+""i - ( ~_r:.)1 ~. _j l..W
-
~ •
->"
- ordinary shares • jU- r+""\ - - founders, incorporators (~yli ~) 0_,......_;..JI ~lS_r:.ll -
- preferred (preference) shares
ti..i!I ~ }o r+""\ - - incorporators' agent ~;.JI J!SJ -
- deferred shares - articles of incorporation ·~~I ..i.......ic.' ~~I ~l:; .lie. -
...... ~ Y' r+""\ -
- shares issued in numerical sequence
.)I .l .}W?J ~l.i r+""\ - (~Y'i~)
- redeemable shares - preliminary articles of .;t-Ui)ll ~y!JI .lie. -

w>""l-l' - incorporation
- shareholders. stockholders - certificate of incorporation ~.kJt•..i~-
~"+-'II ~I -
- nominal ( par ) value of share
~~1~1- -charter ( ~t.·~'Y.) ~l:J4 ~fa' -
- actual value of share - bylaws, statutes rLl..ll' • IJ""'t.....'Jt rLl..lll' ~y!Jt ~1,i -
r+""l.jl ~Ji; -
- transfer of stock (~..>"i ~) '._).;..1..ill
r+""'Jt ~ ~-
- stock record - memorandum of association (~...>! ~) ~y!JI ~l:; .lie. -
yt'i'.6) o..l~-
- stock certificate - articles of association (~~Y. ~) ~ y:JJ ._,hl..ill rtJ;.;J1 -
~t....Jt..:..~t..::..,.1-
- meetings of stockholders - company's formation ~ _r:.ll J:S..!.:i -
~L-11 t~)I ._,.:...ill ~y - ~ _r:.i1 01 ye. -
- calling for stockholders meeting - company's name
t ~ '14 _;1.J,..:...'I' - ~ y!JI <..fa_j:- -
- notice of meeting ~,_ll~l- - company's object
- general meeting (general assembly) - company's legal status "-Sy:Jl ~ yUll JU]I -
(S..l~ t41 -
- regular meeting (ordinary meeting) - principal office of business ~y!JI fiY' -
(c..s..iU:. y,t.) t,s_;U.. t41 -
- special (extraordinary) meeting
~tt..::..,.l- - company'sterm (life, duration) ~_r:JI (o-l.e) J;.\ -
- valid meeting
~4t~I-
- invalid meeting - company's capital ~ _r:JI JL. u-1 .r:
- uorum - capital in cash c.S -lii JL. V"I_;-
- minutes of meeting ~ JL. (.)"I_;-
- capital in property
~IJ_,&..- - authorized capital "-! ~~I JWI V"l_;-
- voting rights
ul_,.-1.JI ~\ .~'Jt u_,- - - issued capital ~I JWI V"i_;-
- majority vote "'-1 ~I JWI '-""j .r:
- numerical majority ( u-;11 ..l~ - ·-)'·"·'I
~JU .....,..__. ~'JI
•. - - subscribed capital
~(.:P ..:..~-
- paid-up capital t _,u..11 JWI V"I .r:
- vote in person
("11.5,14) "'-!~ ..:..~ - - capital on call (called-up capital) ~ y _,11..JI JWI V"I .r:
- vote by proxy
- majority rule
~_;:;..s..JI ~fol :'41..all ~'JI •~l.i - - uncalled capital ~ ~ ~ rl JL. (.)"i_;-
t~'/1~~ - equity share capital ~~ ~i JL. (.)"l_;-1
- absolute majority of votes
L>--< ~I) ul~ .ull...JI ~'JI -
- reserve capital u-1>~! JL. (.)"I_;-
(~y.:..11 u.-;
 - selection (election) of officers ~,:....JI j#.)-
- CAO (Central Auditing
- Directors, Board of Directors o)J'JI ~-
Organization)
- Board Chairman o)J'JI ~<A.; -
- CAMA (Central Agency for - managing director (J,:.....JI ~1) ~I ~ -
Management and Administration) - general manager rWl~l-
- secretary Jf.fi.JI-
- CAP MAS (Central Agency for - treasurer _;~I .,»-I -
Public Mobilization and Statistics) - auditor. controller .)WI yil ~ , ..:..~I ..,..ii..>" -
- control panel ~li.)1 ~-
- Tax Authority - Directors' report • )J'JI ~ Y.fa -
-auditor's report ~l....iil
. . ..>"JU&' ---
- Notarization and Registration - profit/loss account .;~1_,c4))'1 ~ -
Authority - balance sheet ~.»JI -
- inventories, stock-taking J_»11 -
- closing account ..,.-lA.11 ~l-
- division of dividends c4)i• ~~jy-

- insolvency (l+i.HJ •IJI ~~~I~) j....&.'JI -

- bankruptcy ~'JI -
- dissolution ~~I(~)>-
- liquidation ~.;-:JI~ -
-winding up ~~I (JW.l Ui_,) ·~) -
- failure (J-ll ~ ~~I Uiy) ~.;-:JI J.!.i -
- receivership
1 er
- attachment ~I ~ ..:..lit....JI _,.I&:. ~I -
- attachment of earnings order ~~~~.)Al-
-distress ~ (~~I) ..;..'J _,i.WI _,.I&:. ~I -
~
-seizure ~~·>~-
 ~UJI .:.. a :ll
H.tlJL!Mll ..:.• ".!'a rm
 ~J, ~.).~::.ll j_;hl~ JJl.i.JJ ~I ~li '?'.i&.J, .,\.Sy!JI .l.lc. ,i;~ ~WI
t.J1i WI .•. ,,o.11
i-'I ~ .jl_,lc jh:,IJ, ~ .,\S~I .il.iY.,..I ,JlS..!J, tWI ...,..t.::.S'JI ,)1 .,4-::.J)'I ~Jl.i;l.U I .,;,ii D! ki 11'1
..::..,\$ ~ .5 _p.i ,..~i ~
,,s1:- ~ , ......... ~ o.l J.l:>...JI 9 _;...JI ti'-.) j.Si Ji 4~
~ ~ J , JL..JI J"i.) ._.j ~ fo. 4__..;. ~ o.l J.l:>...o.11 9_;...JI :j'.... ! JI JA'JI
.<')~ ~I Ji, """')ti! Ji, ,1.$y!JI .i:..i ol.JJ ~ 4.Sy!JI

: corporations Jl90ill .:.iU.,.:i. ~

4.S.;----.:.11 ,jfoJ, .)WI C;!U:..ll ~ ~ 4-i:!fo .:;\r f"""'fl 141 wlSy!JI .~ ~

: ,.c..o ~ .::,l:,~1 I;.! . ..,... (I J
...r-" joint-stock company ;.....L......J1 .<.s~ faJ. ~.;4Jc.! ~ ..:..1j •k
~ '1 .,\$~ jA ....._.t.....JI A.SY:, ,jfojJ. wlSy!JI jA t_,;11 14} j'....\rl (j_,..:JI
. jWI J"i.; jA .;.i.i fai F j;S:;JI .s i , ,)WI .;4Jc.'11 _s J""

.~_;ill ,jyL-.ill ._.j Lt=ily,..I:.; jA \A.,La...i ~ ._..! Wl.!.11 ..:..lSy!JI t1,i1 ..w....:;J : partnerships Jllliai.ill .:JU.,.Z. .i
: ,),!L..... .,illj ~J
._.j ,L..:.:.c.')'1 ~ j.o ,IJ"", 4:i-U .lJ.i:....t Jt.hi ,,s1:- 4}1.t. ..:..lSy!JI .» t~I b ~
general ~1 .<.s_;.: _yo~\rl ..:..I.SY:, ~J. l+J ~1 JWI ,yi.; Ji .<.sy:.i1
L......~1 4.S.;---...\J, limited partnership ~1 ~jJI .<.s__..;.J, partnership
..........:.'; • _yo~~I ..:..lSy!..i • ..::..lSy!JI .JA t_,;11 I~ ~J. particular partnership
.i.......A ._.j ~I .;1~'11 ,jY 1.):..;J lSy!JI ~
I .. >
~l:JIJ .JHS'..ll ._.j ~
o.i.....ii Jj ,lS_;---.!JI .i:..i ..>"::ii~ ~I.e. o.i&.l:iS ~ 4.Sy!JI ,j~ 4-i:!fo J"l....i ~ ..:..lSy!JI
w~y!UJI ~ lii J .Uli J Ji ~ ';1

;a..w..JI ~I .:.iU .:.iU.,:.11 ·~

-----~~~~~~~;==d~~~~~~~~~~~~~=~~~=~--t--~===~==~=:=~=~=:·::~i~of1n~~~~
- o.i~l 9;.....JI ..:.,lj'".Sy!JI: L...t. ! ~.) ~y1.::..t$y!JI .;_,..t_,.;]1 I~~
partnership limited by ~\r4 ~jJI 4.SY:,J • limited liability company
1_;----J.:.; ·~1 ~1 ..:..1;,· ..::..lSy!JI i--4 ..::..1.Sy!JI .JA t_,.;ll I~ _;,.:.,. .l!J . shares
~J •" ·t ·t . ._;." uJ..>"' o.il..c. I.AA!~ ....._.L....JI A.SY:,,:;µ jW..JI ~ >J ~, .!ill ,,s1:- ~J. jl_,..\rl wlSY:,J, L>"'t.;...:.\rl ..:.I.SY:,~~~~...:.';
~JY"-! •.;4JI .~ 4.Y >
•.iWI --,» .i.iJ. • ~J-A A.SY:,· ws ....._.t...... .;~! t~\rl: ,J....:.. ! ~I )~'11 t.i.;.:; o.i~I 9.;...JI ..::,,\j 4.Sy!JI t~i ~.)
. Societe Anonyme Egyptienne ._.....;.;ill i--'11 .)! ~ .f>J ·· S.A.E. ··

, 4,yJI ~ J.i: >_JAL.ill - . ~,;t.;...:ill ..:.~y!JI . ..r..>foll ~ . .i (')

.o-Y ._,......,..., 1 '\'Ir

I I
 :I q,\ I ~ I oq r--J . .L..l.ii.U l...ii...b
~~ t,J,,.- .
.:.:.L:a,.....·.. ll ...,-;-;-.
. ...., A..c.·· .. i:i..::::»1:"-1\J11 ..al..:..l. u·I [ r l
r=
~ > -.;i .)! 1.:.W>...) ~_.>ill WI .) !""''JI I~ wl.S~I ..jo t_,;ll I~ ..s'""" ,i;_,
r--""! j ~ • Ltl ~_;.JI ~~l..;11""'4 ~~I~~ _;.II ->""'~l..;1 w\Sy!.
: joint-stock company :ioaL..uoll~~ .i .fa. ~L.. ~j .» ..::...:..!Ji ..;:ill ..fa..r.Jl _,i 4J..t..:..i ..jo 11;..!... .jfa j ~ wl......JI ~~I
,j-AJ, ..>"'~j .,L....i ~'i' ~l......JI -".Sy!.!""'')~, ..SJl.,.:i !""'~ )4....... !""''JI
~I .._,.._,11 > lt]_,1.lJ ~~I ~J~ i'+""j .)! wl......JI -".S~ JL....iJ ~ I.AU...._, 'societe anonyrne' ,.....1 ~_>ill w1.) ..::...ts~I ..r t_,.lll 1~ > .jll:.i ~
.je- J\....:i ')_,, ~ ..,.WSI _;.II i'+""'JI ~ .,l.li >~\.....JI~_,:,...... ~J . .jylill.) • • ........; ...)J.l.> ~_;-:. •
. i"+"'j .,r ~ ..,.WSI L. J_,.a.) 'l) ~~\ ..JY..l

""---! -~..>4 JL......l.J ...r-'1.....';1 i-~' .l..l.:>o..,l.J JL....i.J -".Sy:.ll .:.;fo._,

JYHJ, .).i.....a...
..:..ts~ : .../' ! ~.) t_ I _,.;i ;_:,)>..'., .)! J>.AA .) wl.S ~I ~ .j).! , til _,II _) J
.) s . j..LS.J4 ~ ~ J.i....:...JI JWI J"j.) .jfa j .1. fo_, . .J.i....:...JI JWI ;yi J j_,4-; companies of mixed • \.,t.; .\i ~1 ..::...1:i ..:..ts~1, • partnerships ~~'11
.;_____..,.; :,~ J >
'-:!.lil.11 i'+"")U ~'/I ~I ..jo jj'JI >&)I .,l.l~ ~JS I'~ ..::...~~I ~IL.. .a.)!~ corporations j1_,..l..;1 ..:..I.Sy.:._,, character
~-'. ~~'~\:;~ju..,:,.. ..:...1_,;.... ' • .je- ~yl' •.i... ~ J..LS.l4 ~'!' !'+"''11 j--+y ..,J,1 wtS~I' i i a'i ~,;.~I ..:..4y,,i1_, t.,_u~..>! .,r JS.) ~)~:JI

...--i ,.L.....11 ...,.L.:ri£::U J~' o_JC.l ..JfoJ . i-WI ...,.,\.:ri£::1J ~~I i"+"'i ..>- ...,...;!.,. c:Ja , ~) ..fJc.'!I ~I ..:.I~ ..:...ts_,.:JI_,, partnerships ->""'~l..;1 ..:..I.Sy!.: l...\ 1~.J
. -".S~\ wLl~ >
j..:..!U o fa r+-''JI .) ..::...ts~I ~ .)! ~I J.....:! ~I I~ ~JJ . companies _,i corporations

: partnership limited by shares ....-h~ ~~I~~.~

W~Y. ...--i ~I ~I )..):- > ..::...\S~I ,y. ~J $ _,:, .)! ~i J>.AA
.J-" ~.J :.;;r..,, .)! ~.) ..:...ts~I ~, f' .,r_,. ~..>4'11 ;.~1 ..:..4'J_,llJ
,_;si _,i ..jo~ ~y!. ~ _fo\ _,i ~ ..jo !"+"''J4 ~_;;II -".S~ JL....\J ufo ~j<..fJc.'I' ~1 ..::...1:. wl.Sy!Jl.J. partnerships ->""'~'11 ..:..I.Sy!. : l...\ ! ..:..l.Sy!JI
.jfaL..-.A...11 .. 1.S_,.:JI _,i ~~I ufa.J. fol _,j ~L...... ~~~I ~_,L...U.. i'+""j.J ..:.ts__,___..:JI ,y. t1_,.;i ~partnerships ->""'~YI ..:ii.Sy!.~-', I') corporations
'i _,:............:_;fa~ ... \.....JI ~~I L..i • ;.:,_,.a.. y,t. ~_,:,...... -".S~I wL..ljll_l .je- ~Y...,. : ._..l:!L.. .r
_,i ..>-~ ~~.)!~~I o).l!-1 ~-'. ~ ..,.WSI .;JI !"+"''JI~ :._,.a.) 'l)
. ~ ,..._:;UJ....._, o):.'j4 r+.!1! ~ i.JA .,L....i -".S~I ~\:;.lie ~.J . .foi general partnership .,rl...:o:JI -".Sy!. - \
limited partnership ~I ~_,:JI ~y!.-'1'
: limited liability company :; .. ~~· ~ti-oll .:.ill ~~1-:i- partnership limited by shares ~Y4 ~,:JI -".Sy!. -r
~ JS :_;fa \.S:~ 0 • .jC- o.l_,~I ~_,:.....JI wl~ ~~I.) .. ts~\ .l.lc. ~Y.'l
: l...\ • ~J .:.ffey corporations ~}.fJc.'!I ~I ..:..I~ ..::...ts~I ~ ~
;.>olJi--.il'l_,i LtJL....iJ o.l4j _,\ ~\:; j~'l_,, JWI U"jJ.) ~fa. .hii l'Y...,.
. j_,l.l'.".ll ~l.i wl.i>... _,i i'+""i ).i..o.l LtJ j~'l.J, !'WI ...,.,WJ.$)'1 ~)a l.F- !+!~

-----------Hl~71=it::lii:trt:i::Ei-:5'lgr,::;;:JJ:::::::i:-:;;::~=:~::iii:=:~:;-:=~~------t---------------.-L1Jw;:~~~· ;:J·y-<:empany----i~1i:JJJ1:ZJ''--'ul3;!Jt
joint - stock company ~\.....JI~~ -o
- " ·· ~i.;;,~J~~l.::a~l~lg...:..i[rl
;jq,\j~ commercial ..S.J4-:JI uylill : ..sA ~l_,i ~
! J>.AA.) ..:...ts~t ~L.:..i! ~-'
''I A\ .i..L..J \ o 'I r-iJ ..:...l.S~I ..:,i_,:,LJ_, , civil code ~I :_;_,:,till_, ' code
I~ ._.--i o.l.l-.oo.....ll {::~Wll tii_, J~ ~'J4
~_;JI -".S~_, ~l......JI -".S~ ~4 -
.J---e .:.1_,..11 ~I ~_;;11_, u.-\....Qj_j1 ..:.I.Sy!. l'thi_, ~l; ~-'. company act
: ~L.. ..;WJI
-".S~ !'\hi '""'' ~ \ o'I riJ 0_,:,lill ~ w;, ~.i..11 0_,:,tilt ..r orv .)! o. o
'preliminary articles of incorporation ~y:.ll ~'~! .lie . \ . o.:._,A..o.11 9_,;,....JI wlj -".S~I_,' w\.....JI ~y.:._,' !"+"''JI t'" ~_;JI
statutes, by-laws -".Sy:.ll l.T"'L...'11 !'~I . Y

: J~ • ;.:,_,.b...JI ~_,:.....JI wl~ ~y:.il ~4 - - M ichacl H. Davies, op. cit., p. I 41 (')

. articles of incorporation -".S~I <..>":!"'\:; .liC. . r
 ~ .,:,..l....Ai.!1 ~
. .l.ii .iJ .l a a> .!1
y:. J;....i .) ~ ~ 'is . ~.fall Ji'.a.- ..:.i4SS ~ ~
~I .)c. j;,..i ~y.Q 4Y:, JS t-'-l:! W)J ..,_ijl y.AJI .»
f'.ir..-r
i>~I ~~~"11 ~~)~I ~~I: ~UI
. "e).i'JI ._.j _?..)u Jt....,. w~ j.....~I ~ 4Y:, JS~-~
. ~_,;lill ~)I wl~l.?.'JI.,:,.. J,!.i..ll t~I f'.ir..-o
: i:i~l .::.~UtJI uU .::.l.6,;1.jl. ;.: =6·· [I)
j...-A Jil ..s" fh wl Y:,! s J;i ~ jh ~I _,11 ~U::. ~ .,:,..l....Ai.ll ..:.LSY:, ~- 1
corporations ~).~'JI ~1 ..:.1.:i ..:.t.Sy:JI
: L......i. ! ~.J $.,; .)! ~U::.
;,.i.o.:...JI ,;_,i,~'J_,JI ._.j ~.J~I ..:...~1 ~
~
.corporations ~)-~'JI ~I ..:.1.:i ..:.t.Sy:JIJ •partnerships ~~')11 ..:...15~
general .,:,..w.:JI ~Y:. :Lo. 1 ~.J $.i' .)! lA.J>.l.! ;.>"'~":ii wt.Sy!. ~J
. ~~')11.,:,.. ..i_,..i.:..... ~ 'i! JL.c.YI.,:,.. t,lll 1.:i. ~4 c,........ y,t:. -\ t1,_.;)'1 .)! ;jL.:a)'4J. limited partnership ~I ~jill ~Y:.J, partnership
Ji~~~ L..! 4fo ~ )yU..'il ~ ~ .,si ......aiji ~y:JI ~-Y
.llc ..:.15.,r-.!. ~~ o-« ~ ..:..15y:.ll o- s.;:>..i ~i .!JU., fi.ill ~I.... ~l.!JI
.• u_,11 ~ •joint venture ~y..!...JI tJy!..JI :J.,. 1 ~j~'JI ~I ..:..1.:i ..:.t.Sy:JIJ ~~YI
L.l.Jl.i..14 unlimited •.i_,..i.:..... y,t. general partner .,:,..L....:.W.J1 4y:.i1 ~_,;......-r business ..SJ~I SJ~'il .iW'ilJ «joint-stock company ~L......11 ~Y:.J
. joint-stock company ~L....w.11 ~y:. ._.j shareholder f"'L......11 ~~ .trust
~l.a:ill ~_µ1 ~ 0-6 .. 1_,.. "e.lJ.l:.A y,i:- ~_,:......l .,:,.ol....:.W.ll 4y:JI ~J
. liability in tort ~~I ~_,:......JI JI _liability in contract

~jji f' .. 1_,.., 041....Ai.ll ~Y:, c4).,:,.. ~ .)c. ~~1ti.l:!4y:.i1 ..:.iY-f 1 partnerships .,.~~I .:.il.'9,.i.-1
. \A~~ Jl_,...I .)c. J;,..i ~y.Q ti.l.! c.,.>J~ .i.i ~~, 'i f'I "-:;le:.
general .,:,..L...4.11 ~~:Lo. 1 ~.J $-_,.i c)! ..:..15y:JI 0-6 t_,;il 1.:i. ~
: limited partnership ~I ~,_;:JI~ _r,-r L..,ilj.. ..).! ~ ;].iW .....;_,..J • limited partnership ~jill ~Y:.J. Partnership
. t.f' i$ Y.,,,.C.J
.l+-JIY,.i cJL.i,jl .)c. ~4.iF.'_,JI .)1 A.,i-ojill ..::..LSY:, cfa • .,:,.ol...AJI wt.Sy!. ,,J...
joint-stock ~L....JI ..:.15~ limited partnership A.,i-ojill ~y!.....,...:.:; ~ t:"J : general partnership 0-0lAll ~ ~ - I
~ ~_,;...... ~J . r.r"'~ 0_,;lil ~~!-!~_;JI ~ ~ 4JI ~company
. ~y:JI ~ .llc JWI l..>"l.J ._.j. '.i .,s.ill · I · •
. ~1_>1ai .):! cJ~'i4 .,:,..l....Ai.ll ~Y:, l..:..i:;J. (:!.J ~ ~ .:.J!.Y.:.,. tJ_,..!... -.,..1.:.......oi
l.'+J ~I t!u..JI limited partnership ~~'JI W4 A.,i-ojill ~y:. f"""! ~J : (I)~t4 l.Aj~ ~ ·~ ylj.e ..:..t.Sy:JI ~i ()A ~I 1.:i. ~J
~~IJ • ~u.,:,.. partnership 0-61...AJI ~y:. ~ ~ ~ ..s.ill ..:.t.Sy:.11.,:,.. t,lll
.jl L....:... limited~ ~J. <.SY..i ~w 0-o corporation ~)~'/I ~I ..:.1.:i 'i J l+-J y..i ~ f .)!-...!1 .iWJ .l.ii ~ ..:..15y:JI .,:,.. t.J-ill I» '->Jfo 1:.N 1.)i.r \
~ u-i, ~L......11 ~Y:, ~ L>:ML......11 J.,., o.i_,..i.:..... ~y:JI ..w.cl ~ ..:..L:J_,;...... . ~fo J.....11 0-o wJ..i .lia.l1 1» ~ liY,. ~_,.ll1 wfo
unlimited •.i~ y,t:. ..si • ~U::. y.."11 ~I ..:...41_,;......:) partnership~~ • ~ ._,;.ii c)! ~ y:JI J,,.s..Z ~ ~ Y
. 0-61...AJI ~ Y:, ._.j .. Wac)' I ,,J...

~ 4Y:. fol JI ~ ~1_, , fol _,i ~ 0-6 A.,i-ojill ~ y:. ~fo j~J
.;_,;L.-..i!I 1...:4Y"!J . limited partner ...,- _,,. 4Y:. fol Ji ~1 JJ • general partner
- Corley, Holmes.& Robert , op. cit., p 468 . (')
 The right of the remaining .J__....ujl ~I >4 .) .).;i4JI o \S ~I ~ -
..)c ~' Uniform L:m_ited Partnership Act ~jill ..:.tS~ .i.:..,.JI ~yYI
partners to continue the business ~i _:ii~ JI Jc.Li::. Ji ;;LSJ .Ub..)
. ,jui.. 'JI e- lS y:.11
: I I 9t::J1 ..:.li4:JI ..)c ..s.iW certificate •.i~ ~-" ......;1_).';1
on the death, retirement or
incapacity of other partners.
- Name of partnership: . .. : 4..S_r:.JI ,.......1 -
~ t.i,,JJ, ~y!Jl ~.)I _;..JI~ ~Y. ._,:.11 ~ti.JI.) o.i~I ~ ~J - Character of business: .
~ ..)c of:k.J. J_u..:; ~ "-;!! l+J
.!lJj ~Y. JI 4-k "-;!!~~I ~\..ij ~JS..) ........... ············· : j....JI t_,; -
..)J .notice by newspaper Publication U:..-.JI.) .ill.) J=- .:.):k'jl w4'i_,ll -#I - Location : . ..................... : 4..S~I tl>4 -
Ji ' jL.JI ;J"i.) JI ~ y:.11 .-.! ~ J;.. o.l~I .) o.l) _,JI wli4:JI .) ~ w J.l.:.. .Ub
. •.l!~ •.i~ ).i....o) ~ ' -m.:i y,t.. - Name and place of residence 4-..t:i.1 .;... J ,........1 -
of each partner : . . : 4Y.:. JS
.J--1".J firm r--""!...:....,.:; 41..c ~;JI~~:..>") ....:. j ..::...4'i_,JI ylci ~l,S-,.J.h:UJ
,--...I~ Ji' ..r-'°.>4 4~ ..si ,.......! "5~1,.......) ~ 'iiJ. ·...>""i.:...;i ~~· ~L.
- General partners and limited ...JfaW.:WI .. tS_r:.Ji -
-',_J$ UW.) ..~.iL-:'i_,ll ~ :fa.fa.J. ~).~I~ ..::...1.:i ~~ ..si (')company
partners:................ .. : ...J_,.....,.JI .. lS~IJ
9_,:._...... ~I :..>ofa'i ~w.ill w4'i_,ll ~ .;_,. ?""''II.)!· o.lJ.A..' ..si limited
..>--- J;l....4ill .j_,;jl.lll ;fafa. limited partners ~_,..JI olS~I _)c
~_,..JI
.J~I Ji
4..>-•:,11 ~'i J .
~L.
";;.iJ.i.:...." ..si limited ~ ".S~I i"l..b.:l.....) i".ic ol_p,.
- Partnership's term : . : ~y:.11 •i. -
~ .r"_,..JI 4~1 .!lfo ~t.. ~ "'-! ~j t.. .lJ.i.:....) 'i! '.Sy!Jl ~I.ill i"L..i 'i Y,.....
1.:i...... _:iµ o).i'jl..) ..r-_,..ll 4~1 .!ll_;:..!.I .Ub .)J. A..;lc- wl~)'IJ tJy!..JI o).i,I - Cash amount or value in ~.liill ~1 -

unlimited liability •.i_,~ y,t.. 9Y..... 1.:i general partner t:....t......c.J... l.S,i~ ~ property contributed by each :4~ JS] ~I Ji
partner: .
~'i <\..ii ~;JI ~~ ~~ ~J. ~~I L>":."-"l; o.l~.) o~ l..c. _)::...JI ~
t+h j~ .:Jk! ~.J ~.li:i .jJ.l.! o.l~I .) J.A.. _,.t.. ~ ~ .. ~) J,.i 4.il.J! ~
- Additional contributions: .
.._s--1c- ..J---;-o_,..JIolSy!Jl ~_,!Ji olk.1 t'° ~~I j_,.....i tjj_iJ f': ~~I~ .J.>9.J. .. .... ··· ·· ···· : 91.....o)'I wL.t,;....)'1 -
. .j_,itill lii J -ill.) J .jJ:1.lll JS .l!.l...U ~ j,U.ow.:i.JI o isy:.11
- The share of each limited partner (:"Y1 .) .r" _,... 4~ JS ~ -
_,..--! ...!JIY.:,'il ~'i ..r-'°_,..JI ~~I .j\ ~I ~;JI "5~ ...,_,J:!C c--'>J\ ~J of profit or compensation : . ............................. :~µ1Ji
-------•. .,.s;':.........
l~ ·1y""="'·w.·• .· . • • . .. .• ,, . •.J .
~'i ~J ~ ~J_j.JI .i~I ~J""-i~ f' ~J' y~IJ c4}il J=- 4l...:.. .;iliJ The right ofa limited partner to ~'11..) ~_,..JI ol.S~I .i.:..i ~ -
.t..w~~J priority over other limited ~_,.JI olS_.>-.o:.JI ..J--.o .y,t.. _)c
partners as to contributions. . ..:.t...L.....11 ~4

- The right of a limited partner to "-,JU:..JI ~ ~_,.JI olS~I .i.:..i ~ -

demand property rather than cash ...... ~! ._Hl.i.. .iii j-6 'i .l.! ..::...~
in return for his contribution.

- Ibid, p. 469. - Ibid. p. 469.

(')
 ~ .l,.-Ll1 µ1 ..;LS lj) "...._,_.Ji~ "~ ~fa.J, 4.J4-J ~ .l,......&.JI
_;_,;Lill~~ ..ui y. ..:...~1..;.. t_,ll11~ ~ L.. ~i ..J~, Lll..i L.S,. Lu4-J
: corporations ~Ji+:k¥1 ~I .:.ill .:.iU.,.:iJI--:'
. ..U~ j!.l}I ;.>"~)'I ~ ~ .j1:- ji:......" ~ • ,i "~I J ..JL/>"
: corporation ~J~f'I ~I ..:,,I~ 4( _,:JI ....A!,_rJJ-1

.;_,..-l1 _?.1JI ~ J.,,4:'il corporation ~_;l.~)'1 ~I ..s:i ~I >fa ..:...iJ,> .liJ :4J4 "corporation ~-u~)'' ~1 .:..1:i ~~' .....;~
..:...1c.1.)!--l1..:...1j ..:...LS~I ~b ~! ~J.;JI . . ,. y:. ~ JJ.l ~I L...l.ic. ..,b,11
;yJL-..!1 ..J:!.i.)11 ~•~I ~Y.1~.N1 ~.J4-Jl1 ..:...LS~I ..:i..;LSJ. chartered company A corporation is an entity. an artificial ~~ ~ ~ ..,Jyli ..JI.!>·
. ~I ~~.;~'ii ~I ..:.,1j ~~ ~j).~1 .ll J)l .» ~ t'!L..JIJ ~ being, created by government grant .:..~.::L.- J~J , 4....,s.:..JI ~
. .)......Jy,11 .» ..;_,;Li Ji .!!WI ..;.. charter >c.1..>:' ~-'41 L..) ..:...\...:.; .li .:.LS~\ .:i. ..:i..;LS, and endowed with certain powers. .1'1 • ~

4--J ..JLS fa,. joint-stock company ~t...... .:.LS~~ hb ..:,.,;LS. ~1_i,J1 ~J

~ ~11+-J ~i ..:...LS~1.~ ..:i..;LSJ. ~W.C.i .J:- ~J ~ ..,Jyli .ly,.J ..JfoJ 1
.1J__,.ll1 .)o ,,:,.,;u ~-'4! corporation ~.J~)'I ~1 ..:..1:i ~y!JI L..:.:.:;,
..;_>-ill .i,,il.tJ J~ J . ·~ ..,...:01) .Jt-:....1 J .....i~I ~ .» .i,,i.)4-J wl.1.L.:..i o~4-o ;L.:.......al A.,.!_,L....... ~J .)~)'IJ c>1_,.i14 lA.l_y,.J ~ o.lt.:.,, ..,J_,;Li ..:ill> .:..1:i
.,.L...::.:...J- fa- ~.I..!} Y-A
~ • • ~·1:.,·.t ~
~ - . ~ t1 y:. · ~)'I · 6...JI :.faU,
•· 1 ...,... - . . ..J>:" ~ • t-1l...JI ~~ P~ .jl-..p ..s"J I~ •J~! l.. .)c ~.)~)'I ~I .:.,lj ~~1
..:..LS~ .ly,._,11 .)! ~ ..:...IJ,> I !-i
..J.oJ . .!!WI..;.. C:!y.-:J JI ..,JWy, ..;_,;l.il ~fo ~ C.~-u)'I ~ ..Jfo ~ .:F- ~J · 4-o.4) ~I..... .J:- ~>4 ~.l'.i taxable entity
~~1 ~~ ~ 4..l unchartered Joint-stock company .:..1 .. 1..>:' ..;~ ~t...... ..JI i.s--AJ .l.lfa L.. Wl.l _;.JI ~I AL.. ~_,..;.J.l ~L.;. ~i ~L-11 ~_,!.i.Jl
~ >.l.U...11 ..:...4)' ,11 ~ j .lo..!J . corporation ~.J~ )'I ~1 .:..1:i ~.w1 . ~J.lj.o ~y.':J ~ ~.J~'/I ~I ..:.,1j ..:...LSy:.11 ~.l
...._:...:;corporation L.,i).~)'1 "2 a; •.11 .:..1:i .:.LS~\ ..:.ii.lo!, 1.:filJ.,i..>:'..;.. LrJ)U::....1
'-
..;LJ y,11 j.......a.S L....r... L..L..J, ..:...4)' ,JI~ ~y:.:.ll ..:...~1 ..jo, .~_,..le. JS, ..:...lc.ly
.
(') J,i5
• • ...,...
. ...r·th,-Y.".. I\

. ~~1 ..;.. y,/> .l.le ..;.. y,/> jl.......i.) F ~,JI .....,.. _,!.... 'i I l.y.ii - \
.o.l u · 1
. ~1.l .l~.Jo! F j ~.J~)'1 ~1 .:..1:i ~~ ~ -r
.j~ ~~'J ~J~'i1 ~1 ..:.,lj ~~I ~ .uJ...ll J!~ -fi....Jl ~ - f I f
...).....l.. ~t--1 c"I~! e,Hjl.a ~ ~J JWI ;..>"i.J ~ ~L....JI ..:..;.,. 0-- ~i
, O jt..&.. c'+"'i Ji I ..:..i,......i1 ~ l+I ~ c'+"'i ~
. ~J~ y,t. J ~ ·~ !'+"'I ~.I ~I ~ ~ -o
~,. ~I I,_; fa. ,) I ~~ yi.........ls ...........J rt:-.)! ' (Y._;..:..Jl ~ -i f
... ~! I ~WI ~yU Jl,. 41.>- .;~
- Ronald A. Anderson. op. cit. , p. 627.
(')
- Lexicon Universal Encyclopedia. op. cit., p. 272. (') - Ibid, p. 627.
(")

11
 r

41 o> '.ll ..:..lj ..:..lS_.>--.!JI ~ lul4 ~._,.:;II ..ill;.]..~ ~l_,i I.SY.:,)' -V

.
;_.. .) L.lc.)'I
. .
~I ..:..lj ..:..lS~I . ~.J4'.ic)'I
co orations 41 a> 'II ..:..1.:i wlS_.>--.!JI cJ~ i>~YI..:,,... -l,!.lo.11 ...,_,;1_;..411 ~l_,i ~-A
, ~'j_,ll _:,... J+-\::JI ~y J.l..a! ·~.J4'.ic )'I
.~_,;l.i ..>'>:!~ l:.;:;J
~ ~ yti ,j\.fi ..::..,lj ,jfo \....:,IJ .)-c. )1 oi;. \,;j yl! wlfi ;,,,.,"j
~ ..::...1:i ..sl) l+-!~i <.fa .>:--- .. :.l4'i _,JI _:,... ~I ..,.' l+/~I
. ~).+>c! . ...,-......)1 ~Lhll ._..l) lfo. J.!...:i _;.II ~1.,1..») (:" ~ 9WI ~I-\
:~L.._......Jl oJ~ '-:!] y..._.,.. I~ ~) •J ~ JI.. '-:!] Y...,. jl__f;,.'jl ...,.,;1_;..;.._, license fees ~.Jill i>_,.,..J.].. ltJlii! ~_;JI U:!.Jt....-ll -Y
,j~ ~ .)!!Y...,. I rl ,jJ°""l....ll ~~,..JI .tS_,.:.ll ~4
.'-S~I . ~_;JI ;._s~ . franchise taxes
."-:!JU:. ..:..lli corporate income ..:..lS~I ~.l u-k 4J.l..)A ...,.,;1_;..;.. ;.;4_.) -r
..:..1.:i
;;L_j >! Ji , • tS ~I <JU.4 ~ • .i...11 - t
·~'14 ) • "-il,,....j! ) ~.lo.I ~ ..SJ~I J-11 o~4J ;J.i._;.. ~_;l.;::u:.l'I ~I ulj ~~I ..Jfii 1) J..~ -£
..::...tS _r-.!. ..,..i L........iWI :.) ~ J ~I Ji_..;-o . ~)'_,JI
, ~ JjL.;;ll ~ ->""h.!.YI ..s.;--i..YI Jt$..!.~I ..:,,... fol ~ ..:..4ji........11 JS~ ~fo.. ~l_,11-'.Sy:JI t_,..;...:;.. -o
<J~ ~'i "-:!!! Jjl.:iWl u~ . ~.J~I ..:..L...hWJ
A~I ~I wl.1~) ~ .r~ ~_;l.;::u:.)'1 ~I ..:..lj ~~I~ j >.;.Jfa -1

~I ,j-,!~1 ..J_,....L......ll J~ ..::..._,_...... "-.J _:,..l....:o:i.. ~~JS • .-.....ii .» ~4-i "Ol...;,,1.i.Ji .,sJWI ~I ~ ~

u~J ;...~I u~
.)!!_,;._.-JI
.~~I..,.' ~
~ ,JL.. o)J'/I ..,.' Jl....J ~4-
~ ~ly-..illj .>#-._..Ir.
:~J~YI ~1 01~ ulr"r-s1, V"~~1 ulr"_r-:, ~ ~~_p,.11 J,_,....AJr -r
tj ~ ...,.....,_,..11 ~~I) .~~I
~~ ..,.' oJIJ'fl ..,.' J_,b. ..si ~_;l..,Uc)'I ~I ..:..1.:i wlS~IJ i..>""~YI wlS~ ~ -'..;.Jli.. .)WI JJ.i;...11 ~>.!
. ~~y.ll _(') .~1 ..:..4y_,11 ~
~ ~ ..r---!Jl.j ! "-'!-y.» ~fa .j-o~t:.:i..~~-1:!4~~
f::" c4)11 ..,.tL.... ._..Ir. Ji..ll1 ~fa ..,.'L....... ~ .J_.;...lll ~fa
• cLi.Jlll . :A~l..bi:i..) ~I·'~! I'~ . 'j l'i l+--:!jji f' .1Y" 4.;YI c
.)<:. ~.ll1 ~fa u_,....L.....ll ~-1:! f'
C.J
·~
UJ.;1'----~ -A
•• .____ ..,..•. '!,
·~ Ji----JI J
. ~_,;..JI J:!Jl.i:ill .J

~ .b.J~ o.Jc. .)_;;, J ~ >J~ • ~~ ~ J~ ~y"i J.--Ji ·~4-- -'I

..S .;~I J_....JI > ..,_..,:.4--1 ~ y!J1 ....----J ..S .;~I
~fa oJ~ ._..Ir. J~IJ . ._s_j.YI ..::...4'i_,JI
certificate of authorit - Ibid, pp. 656-657.

1
4.S..r--:JI ~ ..::...L-o_,l..... application for incorporation .J°':!""'\.:ill ..,..J.l:. ~~J
name ~_fo....11 ;,s~1 .fa~J t""! S... wll4! ..,.All~.) ....J_,JWI YJ ··~~1
place of..; .Jl..+Jl _;-i.JIs , stock structure JL-.ll ...>"i .J # • and purpose
~' ..r-' J.!1,:...-.JI J ..)---.!~' .. i......l _f.j L..:..:!i ..::...4'i _,JI ._>--! ~ J . business
. agent ~_,JI J , registered office ~I ..,..:&!I J •..) J'ii

J..J~1 ijtS ~'. ~yu1 l',...)1 ti;;J ~\:ill oJ~ clY.::....! ..,....U:. ~~ ~J.
~tS .. ~! Ub ~J. Jl.JJ'}I ~~I ..S.Jl.l'jl J_,:.....JI I'~• ..;Y,..'il
,.:.:,iL-il' ~J-6!J . certificate of incorporation .J°':!""'\.:ill •;;~Ji ...... ) ~ ..::...l>lb:..JI ~ l'..i.......i::JI incorporators 4.S~I .............;.. ..)c. ~ ~.>"'}1 .,:,_,ii.ill ~'4!J
Model Business Corporation ~.J4'.ic'il ~I ..::...1j ~.;1.~.:.11 ..:.lSy:.ll .._r.j,..:JI certificate of incorporation ~l:; •;;~..,Jc. J~ (to) file an application
• .o 0·,;,.l\ -;.__ ul;;';I ~I :_r. ...>":!+"\:ill o.l~ ).i-) ~ .» 4.S~I .ly>-J i.l:>:! Act >;;~ .J_,.i..........o ~J . articles of incorporation ~\.:ill .lic. ..,...u.i1 e:" jiy,J
oJ\.+--!o ~J-6! ~ t4! ;;lk.i) ~ 'i'! 4.S~1 . .lyi.J \.l:>:! 'i' ..::...y'i ~1 ..>--! .)J articles _ of ~WI ~ ;;L..Jc) certificate of incorporation ~WI
.l-A.! )') 4.S~I ;;_,,,,.J i.l:>:! )' ..;p.i ..::...y'i J .)J. 4J\....c.l oy!.4-o ._,.i '-S~I 1.i;J ~\:ill
. ~I t4)'1 jl:- y,fa :":!.:.iO ~ ~J · -J~_,.l~ .,i ~)I~' 4.Sy!JI ~ ~ YJ • 4--.J incorporation
... 1 ~ ~ ~.J4'.>c'ii ~I ..:,,lj 4.S_,.!JI ;;We, 'i ~ _,.:.II ~ )1 ~_,JI ..:.ulS
certificate ·~l:J11;;~· c.- -11... -· j.. ~' - ..:.L.u.. ..r-
··''' ~.. '4!J. cha r 1 er • ...>":!-'w1.
• ~ 4.Sy!JI .. l.!.i! .u... certificate of incorporation .J°':!""'l:JI oJ~ .:;fo ~ J
4.S _r-:.ll J U Jlll ~ L..,i ~;;iWll ..::...41 _,ll .fa .fa J ~;;iWll J.,,WI J _,:...; L..:..:!I W) J
· charter ·~l:JI ... ,Y.· ~
J.... of incorporation
.) .J.-- ~l-..\1 4.Sy:.ll .) fo ~µ , .lic. ~~ ~ ~\.:ill >;;~ .:.i'JJ . ~\.....JIJ
~:lll_, ~.J4'.ic'il ~I ..::.,,lj 4.S~I ~(:; .,i IJfa .j,!:lll ..,....~'JI I~ ~IL.
~ ~ .r-=JIJ ..)1.J~I .J_;:.....lll _)>;;)_,JI l.}ill ~ .~.lJ:iJ ~'i J!~ Ji~ . ·.• ,, I ..s- ~J
. ;; ,,WI ._,.i wl..l yJ'! I _.)<:. JI.t.ll ..:.4 'i _,ll .:;_,..~
(')·
.J:!..,I ~~JI I... , promoters · ~. . J..;...ll • .J,;.,jj ~I. . ('l.......A;'it... r..... y,c.· ..;_,....,.,
· ·•
. mcorporators ·~;...11 '.J,;.,jj ~ ~, ~l:J1 •.i~ ..)c. J_,......,J.l .,..Jh.

: dissolution or termination U"_,!JI ~lfi! ,i J> -o !i ~ r=: .J~ _:,~ ~.Jt.,.:;c.'il ~I ..:,,lj 4.S~I ~l:; ..:.1 .. lfe) i.l,U_,
~~1 ~I~!~!• ~rticles of incorporation 4.S~I ~L:; .:.i.e. _;si
: 4'-'JI ..::..)'WI ._,.i IA.)l+J) Ji ~.J4'.ic'il ~I ..:.lj 4.S~I j.. ~ ......,'-!L\:a:WI ~ .,_s5 ~ .ii.JI .jl :_r. ;;$\.:ill .ll.c. J . ~ ,j..o .li.JI . • •· I
by agreement Jw'!4 - . • · • • .J . . ..)c. ~I w.1> _,...II y!. ~ ~_,ii.ill

reorganization proceedings ~ •;;~) ..:.1 .. lfe! - r

forfeiture of charter ~\.:ill ••I.)!~ -
court decree ._,.;L.:.:.i yai .J.J.l..A -

: amalgamation U".f.1' z:Lo.A.i ! -'

- Ibid, pp. 634-639. (')
~~I ~1 ~l.,i .) ~J . I~ ~ Jy!w JI ~ ji.:.'.J _;si _,I .:;t.Sy!. ~_J,jj .i.i
: ~'JI ~'JI Aj
-Ibid. p. 628. (")
I
 'i J .:.>-v~~I •L...:.:.U.. .!lfo..11 .;W:,..,.'il t-'Y:... ~ 'i_,, dl.l:is ~ 'i,.....,.; ~lSy:JI
• ...i.:.. ~ .$ <l,j\Sy.:. .:.;s:. ~~ JI "-h...l y 'i ! .uL...:.:.U.. ~

: ''1 joint - stock company ...al.oil ~,Jo-~

t_,_;--.:...ll oJ.i) 9~ ~-' ~ LS.;~I ~.fol...>- tY _.A ~t.....JI ~y!.

.~~ -s--"L...'11 ~~I Y:,..J-4!J. 0:!.J:!..l...ll Jl ~u..'11 ...>- ~~ LS.l:!I ._..i ..s.;~I
·tJ~ ,:.,#>Y,:... fit.. .jJ~ .).!:.i.11 .,w.c.';1 ~ ul.)~ ._..i '-.r...... i"+'"'i .;.i...:.:i
i'+""'.11 .:.;foJ . trustees .,u..l JI board of directors o)J) ~ .:,;_,....t.....J1 ~J
.l.......oo.i >u_, uli JW4J . ~y:.ll ~ .)! LSJ~'J Jjliill. l~J • transferable Jjl.i.:J.l 4..11.i
.).J---4.J ~J. u--l...4'11 ~y!. ~l..:t. ._..i w~ L.S ~y!.}I ~ .)) ._sJy'i ~l.....JI
<l.S.l_y!.' ~ Jl..:...'.i'JI I~ Ji..J . c.s-"'L...';1 4-ol..l:>.i ._..i oJ..i.:....JI ojiill jl_,.b A......t.....JI ~y:.ll
~ j~I .JA ..:.,~I 0-- t,,;.ll I~ ~)I u-<>.JA.11 ) ...>-~)I ~ " ~l...:..J"
L..,.,.jl.i o.)_J..i.:...JI .):!i:- 9_µ1 ~_J. '"-:i.;l.,Uc'JI ~I ..:.,I~ ulSy:.ll 41_;.. ...>- .l,!..i.....ll
A......L.........JI ~_;--...:. ~ LS~'JI ~l~I .» .l,!..i.....ll ._..i flJ, A......t.....JI ~y:.l ~L
, ~ ~y'll ...:....4'Jyl u-- .l,!..i.....ll u-9J. '"-:1).,UCYI ~I ...:.,1~ ...:.,lSy:JI __,...;~
. ·~_,;ti ..:i4SS w1.......J1 ~y!. •L...:.:.Li.. • .:,;_,;Lill~

:business trust J1Jl+:illo1,~lll.ib.:ull-~

~.lie. ~-"4! trustees .,u..\11 u-- ~~ u-- t.S.;~l LS).~YI Jl..:...'.i)'I ufo
~. ·.;~•"declaration of trust"
t31lJY1 I~ "-:-"1>-"4!J . .,u..\11 J.>9.1
L.JL..Jj!
. ~~ tl:U certification of beneficial interest 't\..i.jj! ~ oJ~· .,u..\11 (I)• •
: JO Int venture s, ..,_,._ •1 • ... ..111 ... •
,,__ ,........... ~t,....-1

- Ibid, p. 815. (') - Robert N Co I d w·ii 1·ram

. r ey an J. Robert, op. cit., pp. 811-812.
(')
 ~ .jl..:U)'I '-'I.iii ~J'"I ..JJ~I .jlS l.J) -..;i i-S~I ..:..fa.I ~yYI ..:..4'J ,JI ~
..:.il........J,
.U::L;.J .w..)'1 ~6.:u! J:i)a j- • J,...J1 •)..i) ~ ~u.)1 ~ 4-...J~.)-""
.j_,...~1 .:fa. t1 lj) ,fi.l, . ~L...:a:... o lSY.:, ~ >! .j,/),..... .JJ~ ~l...JI • 'J-,.,.
..5.J~I J-jl o)..i).) .),....JI j.a o.),.... ~4 J,i..l'..ll...,.,.. ..si Ji 4..,.ilY.:,.1 ~ .j~

~ L4 .. :.u~
~~i ~ ~ ..;~'jl .:;,.;~ \i,J. rnn.1pany ·~ ~- .lS~ .J,il,:.._.... y,....i:.J ._,.;L...>jl jL....J:il ~J'"I ~~WI • .l...) ..JJ~ ~~
i ~l....:U. )'I ,i 4....;l_...j'11 ._>ol ,;C- ';1 .» ..!!Jj ~ ,1 ._..cl.i...o JI ..;j~ ._>o ,;C- ~ .~L...:a:...
' - . . - !
~~i F company ~ ~. corporation~ J..., · . .U~
~LU.
j,_i.:.. j--J:- -~, ~ ..:..41H j_,h ..j 4,;4Jc.l ~ .j,_ilill _;hi~ fa
..:..L...lyll J.__.S :.F- o..lJA... y,t. ~,:........ .J:i),:....... oW..YI .J4Jc.l > o..iWI ..:.....P.' ..iiJ
..J-aJ . .jLA:;,)'1 j,,._i .,sk ~I.ill j_,h ..a.JI ~ ~ L.. .,s).~1 ..S.J~'JI ..iW)'I
~~ ~I I~~,.:, jAJ. (') ._;~ ..:&ll ..J:!:!..l~I ~~)'I ..:.041n
..i,,_.i...11 J,...........S.) ..s~I .l.._,..:.11 Ii. ~.J4-:lll ~.Jts:io..')'I ..:..1..iW')'I JS (.J..4 J .....i,Jl.JI
..i~,JI 1::.. {'~', ~l..i ..i~J Jj -.;I (Y), ~,;4Jc.! ~ ~-.;I(') : lM ! ~,;
. j!~I j.,._. ,j ,h.i ~ ~~I ~\.Lj J:!).. .» .(') ..iW')'I .Jl....c..1 ~~.) ~')'

~.)4Jc.'jl ~J 0;, ~II ..:..I.) ..::..lS_.>-...:.11 ~~)I ...:..Lt~)'I ~l.)..i _fi....JI j.a'
:~\:JI J.,l.i;ll \iiJ 4-i~Y..) partnership ~~)11 ...:..lSY.:,J company
~~YI~_;.:. ~.J4Jc. )'I ~I ..:,lj ~_,..:JI
Partncrshi Com an
~ jL.i:J)'I ~)a j- .jfo ~! a;, '.Ji ..:..I.) ~.,,_..!JI ..Jfo j!fi.:JI
,i ~J-A _:;fo. ..iiJ, wl)aYI ~I t_H)a :.F- ~.J4Jc.)'I formation
. ,_jl)aYI jWi J::6, :.>- ~ . ..:...lS_,..:.11 .j_,.iLS ~ J'"!
.....__;1 ~.J t,u_,;u ~ .la'.i l' ~ ,;u L,!.J4Jc.! ~ .JiW ._,.;_,;till ~,JI
j~ L...s l,!L..;,.ill e}.J l+l j~ , ~l.l JS..!.! lAj~I ..,..;~J status at
.lS_,..:.11 fa~ j.aJ. ~t...:..l.i.. ..::..l.)L..ic. a.....w:; J j.J!H 14JJ law
..::..L.~t...... ...,.L~i ..J,,...~1 , L,!L..;,.iJI ~--()J 1..i,ic {'Ji.J
.l_,__wl ~,:....... l~J ~_,..:JI •yw.ill lA..i..:o tiJi JI l+oJl..J
- l+!~WI . ~~i :.F- ~ ..J4S ""J
~~Ji; ..!L • I ·tS..L..
~ .j..-1 Ii. ;;_µJI Ji; ,fi.lJ __,-le. ~_,.!JI _,.h l..1.ll {'\J:...JI ..,-.i,! ~'ii~
"-:!SJ.JI "-:!II J_,_wl ~I ) j~ ~4 J . ..!ll.J w::li. transfer
"--.h ..J-a ..Jfo...-..... W) J ~_;.:. ~ ~ ..s )' ~i:.11 .lie. ..,-.i,! of shares
~_.>-...:.!I ~ .)c. J_,_,..11 .~..i~.)c.~b
. ~ 4.JYI :.>- Jjtr....11

Kenneth Smith and Denis Keenan. Companv Law. fifth edition. (')
London: Pitman Publishing Limited. 1984. p. I
- Ibid. pp. 809-8 I 6
(')
 .. lS_r-.:.11 ..l.l-J:. ~~ 01 j~ 'i 1+--'.iW.CI
..).l.-.C.. Ji:! 'i 01 ~ .. Woelj1 .).le

~ 'J ifi!J I~'\'• .:.F- ~~_,I~~ ;.s~ ..::...;\$ .. 1_,... number of

t'~' ~\$~~"'JI .l:>..11 t:i. ..!!~ ~y,,'i "-ii ~J ~! t.F- members
. ()"'l~\tl ..::.,,\$~ · ~~l.l:>.i..SI
~ 0--- 0_,...t....:..:..JI .. isy:.11 .-..SJL.!..JI .. w.c\tl ~ <)oo' ~ •').l'JI
t1L-... ~~I -. ).l) ~ .-.S.JL!..JI I~ t1L..... .-.Sy:.11 o).l) ~ management
~~~\:;JI .lie.~ . o).i'JI uJ+. ~ .. w.c.l
1 chartered companies .:J~l,.tll .:Jll .:J1"~1 .I . .ill:l
~J _.foy iJ.-1.....:.U.. ~~ JS ~\$_,]1
.:i..... ~-', .ll...J.JI 0-" charter > .. ly, ~~ ~y:JI 0-" t_,>11 I~ ~ ~ t"H ,) j~J I .-..Sy:.11 t.F- agency
._,.il.Jy, 0_,;1.i ~~_,I prerogatives jl;w! 1.i~ ~~ l..! ~~ ..::...llal.. ..::...lSy:.11 . ....iw4 .;.s y:.11
promoters iJ_p..J.;..11 ~ 04 ~y:.11 .~ ~fo ..::...1 .. 1...>'l"! fl'-' . statutory powers
J-JJ ~J. charter o.ly,-11 )~'i Privy Council· ~WI uJ+.' ~! t....Wl!
. draft charter >.ly,11 •.l.,,..... yU..l\./ y,-....t. <)oow.:...11 ~y!JI ~ j...w .. w.c.lj1u- _,......
· ~ - ·
.JYH u- _,.,,...,.
·
~Jill .-..S_;--.!. ~J. ·.l~ _,I?• .. )'1 '"b ·I~ .. W.C.'JI
j~ limited partnership . u~ 'liability of
i:;.-. fol _,I ~~ ~ _;,-.. ~ members
~.J~ fa. -..Sy!.11 iJJ:!.l J;..I
~.)I ..,le .!IUJ JWI t.>"l.J ~
~Jill .;.,s~ ~~"-ii 0-"
~~~0~01~
. Jl"'JI Jc .l:>.I J iJ.-1.....:.U.. 'I
u-ou.....__.:.\'1 ..:AS~~ .. lSy:.11 0~ .ijlS ..::...lSy!JI i.)yli ~ ..:..~I
0;;:.Y. J,..i:. isl ·~4-- ~\$...!..! ·~).,U.:·'/I ~I ..::...lj .-..Sy:.11 powers (

J ~J -· 1 , w-~' ,y-1.)·l.SWJ.a.-....i -
JL...k ~'JI .-..Sy!JI J.W'iJ !
..::...1 .. 1~) ~l~~I~ ·~~~_,.:.._,.JI ul.lll\tl I
..;........ -- - u~Y. i)-A ul.lll 'JI o:i. .:,I t'" ~b
)~l...l:>.~)lA~~I
. (.)-2~
·. I.SI ~I~ l+--h ~.:,I ~j.YH iJI _,.:.oc. I.SI .:,lS..!.i ~ •l+i'/I
i. <"'..>-~! ~ rl'-o ..::..i_, i..SI ~ ~~ JI ..::..._,... ~ 'iJ, •AJ .-..Sy:.11 termination
L....S I -..l~ -.fol asy!JI .lie. ..L...:..c..\tt 0-" i..SI ufa.. JI~!
(') 4---h ~ (.)-2~\tl ~ ~ ,) IiiJ i a't fI' .:,I ~ .-.Sy:.11 01
- Ibid, p. 2
( '\')
fi~~ -~~I.SI~! JI..::...~
- Ibid, p. 3 ti

lJ
tl~l J,....S ~ tJJY.:... ..,le 4'~..>! ~ ..::...lSy!JI ..::...L.u~ ~ ~~ ~J
('") 0-" (') t rt ~I ~J. (.)-2~\tl 0-" .tifi.JI -.y,&.-11 ..::...l.lh.i"JI .. 1.ti::....4 ..::...\Sy:.11
- Ibid, p. 3 l>

~~
 : statutory companies ,g..;loJ~ .;,~~~,,.:&JI .:;t=.~1._,
: limited and unlimited companies o~'~' ~' o~'~' .;,,Lr.fJ' . r
~I...~ ...,.,,i..\11 l.lA ,:;ts ..i.iJ. ,yo\.:;. ~Wy ,J,;li ~>'"! ..::...tsy:.JI o.l. L!.:U
.) ~ • unlimited o..l~ y,t. A..,J;...... l+i>.1..l e}..l ~ ,;,s~1 A..,J,;..... fa • "--..;l..l,!~I ..!LIIJ •4-·•)IJ jW1J .. 4fil: _µ..,~WI .jil~I ..:...tsy:. .. t.:u1 ..,..9 ~
. ..:;~I •4---! .. li,U ~ts t+J~i ..:.;ts Wl..b l+:!lc. ~I .J>.1..lll .ijtS ti.,i:;) ~ . ~I
.... '
ii..lJ.l..-:1...A "--.JS ~J. oJ~ ~~i A..,J;...... .:;,S:, j JF.-!, ..tllj .» ~.)I ..,Jc.,
ii..lJA.o ...>#- .;.s~1 ..:.;ts 1.l) l+il ~ • .;.s~1..,.; .. ~)11 A..,J,;..... .)! 4!~ limited : registered companies :i4-o)I .:;t=.~I. ~
~ ~ .:;_,!;...... ~ .~)11 ;,>0~YI j ~ ..tllj .Jµ unlimited company . I '\A I ~ _;,.:.. I '\ f I\ jA s J.l~I ..:,ts y:.ll .):.ii ,ii ~ ..:..ts y:.11 .~ ..>':!-'b ~
~ L.A.~i.) ~ .!1.1.l ,:;µlimited O..lJAA ,;,s~1..:.;ts1.l) L..i. l+=il...lj'.JI ~ :._,.l:! I..._)) o.l\.c. ~I ..::...tsy:.11 ~,
. JWI ...>"iJ.) ,..:.....1....... fa 'i) l+=il...lj'.JI ~ .).!!_,:.......

: unlimited companies iJJA.Jl y,i;' ..:..l.S,.,.!J! .i

: public and private companies 4.ol> .;,,l( _r,, 4ol£: .;,,l( _r.. 1

: public companies ~WI ..:...lS~I -

J~)'I ~ .. 1JJ ~I ..s" ..:...tsj.:.11jAt,ill1.l. .. ~)'~I A..,J,,:.....JI ~
ii.l ~I ~ ..:...ts~I .jfo j ~ I '\A· ~

·M---'i jl.....iJ .jJ.li J\ M-"i jt-.iy I...) oJ,_.i,,...JI y,i:. .:.tsy:.JI ~

~J
.:.ts ~I .jyli ~ Y-!J . t+:Jc.
jl...........iJ t-' .:;Lw.l4 ,i) ,.......Y4 O..lJA.o ,;,sy:. ~~WI ,;,s~1 .:;Y .......\.:;. ..:...tsy:.

•}.~4 r~ .;.s~1 ..:..;ts 1.l! ,.......)11 JL.......iJ r-1..i.>.:....) j~, JI.WI ~..,Jc. J
.l~J .;,,Jt:...) "-.iµ • 4..,J,,:......Jl ~4,. C"!.)1 1» ~j_,;! L...L...i fa ,.......)11 .JY 1.:..4)
J._.S Jl.l-1..tllj~,J1.:ib, ,...........i ~I~
j~J. (td'-'i

j 'i ,i .. ~YI ..,Jc~,.......; jt-.iJ

o..l ~
~t:i ·~
~
~fo ~
t..l~
,;,sy!. t+;i ..,Jc ~WI ,;,s ~I

~I ,1 ~
~J

j~
I '\" • i"w ..:...ts~I ,jyli .jA
~I ._;~

f.> .li ~Le. ,;,sy:. l+ii ..,Jc. memorandum of association

• .jyUl11.l. ~~J. I'\/\ • .jyli ~>'"! r--'il I~~
~Le. ,;,sy:.. A..,.ll:i.11 ..::..WSJ4 ~~ ,;,sy:. ..si !"""! ~ j ~J. ~Le. ,;,sy:.
(' )

•share capital ,.._....i Jt-.iJ ..::...1.:i, ..JLw.l4 ,i M--"Y4

I
..!Lr: _,--i l_,...l-o,! j .. ~'jl .)c. ~,~I ~ts:; t-' ,;,s~1 ..:...t...1.)'.J.IJ .jy,J . ·public limited company"
~, i'+-'i JL-.,..iJ .!!~.fa ,J lj!J: l+i~ ._;!I !+"YI..,.;~...,...._
~ l+-:!l! LJWM ,;,s~1 ..:...L..1j'.J1J .j>.!..l JS .ll.i... ~ j .)! Jt....:.. ~ .. ~)ti
.j--.J;- .).!!_,;.._......... .:;J.?-Y1 ..:.ifo. ~1...1.)'.J! ~ ~ .. ~i ..sl ~ .;,,i1.:.. .,.iJ. ~1
. ~I ~ J ,;,s ~1 .:.41,:,-. .Uts ~ r~I... fa ~I ~_,,u

: private companies ......WI ..:...ts_y:.11 -

company c'+-'Y4 oJ~I .;.s~1 : L..t. 1 >J~I .:.ts~1 ,y. .:;Le.,:.~
. company limited by guarantee .:;!.....4!4 oJJ~I .;.s~1J • limited by shares ~WI .,;,s~I .:;P, ,:;\ j-"HJ, o~I jL.c.)J ..:...ts_y:.11 ,y. tJi!I 1.l. ~
.~ ti' JS _.l.!t4 ;J.iW ._;,.. J lr-i4 pn vate company ~WI ,;,s ~I ' '\A • ..Jyli .....;~J . _;si ,i ~ ,,y.
•j,a, ,.......; ~Ji; Jo. ..,Jc. ..l~ ..si ~ ~J • public company ~Le. .;.sy:. ~
: company limited by shares : I'+-'~~ iJJ.i.-11 '-5,.,.!J! • I ~ articles of association ~b .lie. ~ i-JL.. ~~i .l..)C. ..,Jc. Ji ..::...ts_y:.11
. .l _,;ill .j,a, _µ..
.,.--le. ~J ,~\11 .)c. ;.;~ A..,J,,:.....JI ~ )-1 l.:.A ~:.i.11 ~ j 'iJi ~
i+-:;L..lj'..14 .li,JI Wl..l l# ,) ~ o..l~ y,i:. WIJ ,;,s~1 A..,J;....,.,. ~ ,;,s~1
. .:.L..1jll)'I .!ll:i .. 1J\I J,....i ~ .jts Wl..b
 ~ 01 ~ , ~y:.11 0Jfo ~ r+-""i1 ~ ~ ~,;......ii ~I~ 01 J~J
~Li.~~ ~y!JI u.lS 1.:i) limited ~.._,.it ul....o..., name ~y:.11 ("'"") _, . ~J . c'+"""i4 o.l_,..,.___.._. ~.,,....__.. ..:..1.:i ~y!. l+JI ..,le- ~y!.ll Jn .;
..:..L..JS ~"---"WI ~y!JI lJ6. .,iJ • private limited company i-lJ~ Jt,............I..) ~ "'--S..)w..JI ~ ,_:.&. J_.S ~~ ~~I
. public limited company -l~J. the nominal value of shares~ ~'II:;. 1;11 i)c. L......S_,.:JI
W-.C. ~ L.............. ~ '1 J ~,;......JI 0-o L..W ~ "-"t-1 ~ ~ y!.JI i)) ,..:-11 ~ 01
. registered office ~I ~y!JI .fi.r -Y ~ ~ w~ '1 .ill.:i ..,Jc. •J:J.s:.J. 0'.Ji.YI ~L-ll JI ~y!.11 P. _,I ~_,.u
"il. :I.<. L...i u . . . .,, . ·.. 11
• IA..)1.lwol.~re.re'+"".~-->'-".,.--..
•• I <II

. object ~y!JI r_;:.:.y:. _,.

. limitation of liability ~y.....JI -1:!..b.,j -f : company limited by guarantee ~ oJ~ ts~ . T

u.L.S 1.:i)J, o.l~ ~Wac.I~_,;....... j o.l~I ~_,.:JI ~b 1.fi.:i... ~_;,

j ~ _) _;L...;.JI r~\ ~µ1 ~•fa ~ j j~ _;L...;.J4 o.l~ ~y!.11
. articles of association .):>-1..UI r~l _,i A .ii 1.:i.

: capital ~_,.:JI ~i..) -o

~ , e+""i i)) ~j_iJ J ~ y!JI e+""i ~j..) t4-- ~tJI i fo ~ _iJ 01 ~

lijl..lJ'll t,:.W..:.1 ..,Jc.~ ..u).i c'+""l ~I..) ..:.1.:i J.......:.J4 o-l~I ~y!JI u.ilS 1.:i)J
o.l~ ~y!JI ~ly ~WI •.ftill (.)o4-iJJ . of fixed amount ~t:. .....,.S J.:i ~
:~L...)c.
. ~y!.!1 ~ lJ6. _,i 0~ r'jlll'1 : ..,.;ui1J , ~' ).lwo! ~ ~ : JJ"i1

The share capital of the company '\' , . t-----4-- .JA ~ y!JI !'+""\ ~i..)
is 200.000 pounds divided into .....L.Ji '\' • • u--1c. ~ .s» • ~ w.Ji
200.000 shares , of I pound each. ~IJ ~ ~ J-S ~. !'+"" ..::..lSy!JI ~ ~) ' .wl ~_,.JI ul.ir......11 ~~) ~' ~y!JI ~..,..ill:.~
~~~~~~~-::---::t-1n-::::~r:::::~ff"::![r;'1ir:'7':""cl;~;-:::::ili":-Ji::'1il::~~·~~;·-~Y'-"~-~1 :--~~~S--~~~~~~=~~~-~~~"""C.:~~-~1i:r.~-~ 11~.~.:i.~J~·2R~e~is~tr!ar~o~fuc~o~

r+-- . c'+"" ~ ' ~J · c asses ..:.ill i)! t'+"""i1 ~~I j~J .mernorandurn of association "9~1JlllfM'b(.a.l.&):ii~l.(t)
u.>--"'H. preferred (preference) shares ijU... e+""IJ • ordinary shares ~.)~
JI , nominal capital ~'/I JWI LJ"I..) ~~ •.ftill • .:i. _,i ~_,.JI JWI V"i..) & ..::..1.:i ~~ ~y!. ~I i)c. ~hll efo u..ii wl ~, ~~ ~y!. ~y!JI ulS 1.:i)
. authorized capital c, c~' JWI (.)"\..) public o-l~L......~ ~y!.": ~I u~ ~) ~c) ~'1Ji-l~9_,w..
~ ......UI e , w-.c. ~_>JI ~ ~I,; ~ '11 ~J , limited company
: association clause ts~ Ji.!. i) Jb.o')'I o ..).i - i ~ r,,...; ~ ,;_,i ~ .uµ ..;..1.ir......11 0~ ~1 t wsJ "-It.. .,iJ • l#Y...l
: ~L.. ..,le- o.l~ • _ftill • .:i. u......u . Certificate of incorporation ·~b oJ~·

The sul'·;cribers to the r+ll ~hll •fo ..,le- 0.,,d_,.JI .fa.

memorandum declare that they • ~~ ~ .)L....;'jl ~ .Jy&;.y,
 desire to be formed into a company ~1 ~' J..;..i _)c. ..::,&;1~,
and agree to take the shares . ~1-i ~.)
opposite their names .
. ' -.s.u .:.;I~ 4-1 ~notice~ ~I ~ )l..; c) ..;.,1.S__,.:JI ~ iJ.o ~
}-i..J j--·L>.l.l...!1 .,t.....l ...:...:.s.ll ~J . 0.!-.1}~.fi.Jl.J 0:!..>.!.l.JI .. t.....4 ~J • ~I
: articles of association itlil.a.11iellull (-:1)
business ~...)~I 1 • mJ.:.J.J, ~~J • residential address ~u)
L...-:o..ii ~..._.WI ..:..1.S~I U:.. .).J . 4-l_,l~ LS..?-1 ~).l) ~u... ~I_, .occupations j,_..h r-1WJ • ;.sy!J} ~l.lll o).l'/I ~_;.II .l.C.1,&JI ._shl.l!I c'U:.:JI ~
: ..,.l:!L. ._shl.l!I c'U:.:JI .l~J. ~~;.$_,.:JI ,.L..Aci
, ~ .;_;y,~ o- _,\ ~l:JI >.fi~ ._,le. ~_,.JI i.).o u.:.s.ll e;iY-.J. ("'i':J+. ~)y
. ~I .;,I:) ~ ........ ~I c)c. u.:.s.11 .) ~) .l...).J Ji'fo...J ~ ~ tiY. ,) ~J
JJi ~ ~ ~, -'.$_,.:JI ~\:; ~ , ...:...:.s.ll .) ("'.JL...I ~I ~~"ii ~.J - the manner in which the
. -'.$ y!Jl 0.!-./).J.ft- _,i ~..>.!.lA company's business shall be
conducted.
- appointment and powers of
directors.
- the general meetings ~_,....JI ~I ..:.U:.~.I -
- voting rights of members ,.L..Ac)U ..:.,i,_..AJI j~ -
- transfer of shares c>+'"''JI ~ Ji; -
- dividends (+-YI cli) -
- accounts ..:.4~1-
- appointment of auditors ..:.4~1 ._r.il .>" ~ -

- the rights of the different classes ~\.....JI ..:..ill -....&il.. j ~ -

of shareholders.

: statutory declaration if-J~llll ,1~~1 (~)

~fa _,i ;.$y!J} l~_j- Ji I~~~ J:!.). :_p Ji , ;.$_,.:.11 ~fo Y:.4! _;ill
~_;,_,. t..~,:. .ii ;.s__,.:.i1 ~fol ~_,;lil1 ..i..J__,.:.i1 .:;4 ~ ~y!Jl •)~! ~ J_,I
public ~U:. ;.s~ ;.s~1 j certificate of incorporation .......,......_1.::J1 •.:~
. 4-! .u.,11 >
i' .ii .:,,_,;lill ..;.,4J..1...>.. j LO...t..i ::yl.l •.li...:JI .i.UJ . company

: PUC! ~l..-1 (~)

..:,i_,;U • ~.J'"o!.J. nominal capital ,_,....'/I JWI ...>"iY. lll:!-! i!:i,...i11:i.. ~

.i.........;c. JL.JI ...>"\...)Jc. t""...) _,i o.lU:. ~'J , FinanceAct 1973 • ''\Yr ~ J!_,..:JI
. (+""JI)~)~ %1 ~~..filJ~I
~WJI .:.. _,,·If
•4
 6-t~~y!.~ ~-I
Articles of Partner ship
. 1 -I ..J-4
'I -.-.
( (') t.5~·.• 1_ · {,} ~ - · c .l>"'· )
,.
Articles of Agreement, made , I 9 .. ', / / i"H ~ ..iWI I.la J~
by:)- 2-................ ..-'I' -\ : o\J..ii ~_,.JI U:H L.,i.9

The said parties hereby agree to become I.LA ~ ~ ,jl..i.it..u....11 ..;LS.):JI ~I

copartners, under the firm name of ~ L...,.; '-SY.:, ~fo ._s-1c ..iWI
............... , and as such partners to carry on I ·e ·,i au • t'""! ..:..:..:;
together the business of buying and selling ~.J .,1y.:. •Y.:.4-o ._s-1c liiJI .,i.sy.:.
all sorts of dry goods, at street, in tJL.....! ~ ~4JI tLJI t1_,.;I ~
the city of......... . . ~~ .

The said agrees to contribute Two .._..L....JI ~ u_):,.11 ~ly,

Thousand Dollars ($2,000) to the capital c..J"IJ ~ JJ.J..l (Y ···)._..ill F.
of said firm; and the said agrees to ~ly, L..s •.J_,....._siJI ~y!..11 JL.
contribute One Thousand Dollars ($1,000) UJI F. .._..L......ll ._s-1c ..... u_;lJI
to the same; the sum of Twenty-Five •J_,_.s.Lll ...Sy!..11 ~ J'i.J..i (' • •• )
Hundred Dollars ($2,500) of said capital .._.~.J 0.!iJi F, JW! ~ ul ._s-1c
to be expended in the purchase of a stock is-' JL_JI u-lJ u.. J'i .J..l (Yo •• )
in trade. -~ Jt;..:;:::ll "J:.~ .,1y.:.

All the net profits arising out of the u--c- ~WI c.~)11 ~t..... ~ t::i~
business shall be divided in the following ~I ~ :9'11 y....ill ~ J-11
proportions, two-thirds to the said......... . u.;hll ur.11.J u.)Jl
and one-third to the said .

Hugo Sonnenschein. New Webster's Law for Everyone.- New York: Delair ( \)
Publishing Co., 1982, p.
 ()A~ ~y!. ~ - y

PARTNERSHIP AGREEMENT
Each Partner shall devote all his time. ~ J JS ..J" fa .,:,4 4y.:. JS ~
( (')i;~l ~I ()A {Y} [j_,..;)
attention. and efforts to the said business. . .Jfii.JI J-.ll •J-*"" J ...... w..1 J
This Agreement, made and entered into,
N~ither Partner shall, without the consent .lL....... ...si tiY- 0i 4Y.:. :..s'l j~ 'i
........... ,,, ('Y-~4,,ji
as of the by and among . JS~ .ii..ll Ii.I. .JY:.
............ .jA of the other in writing, sign any bond, bill ~Y. yt.. "--i.JJ _,i ....i~ Ji
(hereinafter collectively sometimes
L..J~i ~ ~ L.,;i ~I .J~J) or . note as surety, or otherwise become 4..r-..!JI ..)A ~l:iS -'.i!I_,.. ..JJ~ u.w.
referred to as "Partners" ).
. ( " ~ ts J-'''It" f""''\., obligated as security for any other person. ~Y. L.)'.. ~ 'i!J, _p.y1
.y..i ~ ...s'l u.w.
WITNESSETH:
Witness the hands and seals of the parties .l-1.JI I.LA .,:,LJ_;hl1 ..>t-< _p:, ~J
Whereas the Parties hereto desire to form ..s--9 .:,;yt.y, .ii.JI Ii.I. wl_>1i ..:its W hereto. this day of A.D. 19... r-~ ~ ~~ •l....-.iJ ~>'-!
a General Partnership (hereinafter referred 4--:.J! .J~J ) ..)Aw.; ~ y!. .Y.fo ~J:J4..\'I / ... / ...
to as the "Partnership"), for the term and •.l--JI JI_,].:. ( ·~y.:.11· f""'4 ~ L.,;! ....................... Party (Seal) ( ~WI ) .. . . . .. . . . . ....:. _;hJI
upon the conditions hereinafter set forth; ! ~ L.,;! ~,,.JI .bJy:.ll WJJ ...................... Party (Seal) (~WI) w_;hJI

Now, therefore, in consideration of the L-lJ\.,u.JI ~1.lf...ull ~ti. ~ 4,,j~. Iii

mutual covenants hereinafter contained, it 1~ ....:.1_>11 Jij! ' ~ l...,i! 0.J.,,.Si.JI
is agreed by and among the Parties hereto : u-1:i L. u-1c .ii.JI
as follows:

Article I (I) oJl.JI

BASIC STRUCTURE ~_,..!Jl r..r"L-'JI ~I
Form. : ~ y!JI Ji.!.
The Parties hereby form a General ~y!. .ii.JI Ii.!.~>"! ul_>1';1 ~
. ·1 - w.:; w .
,,
r :

Name. : ~y.!JI i-l

The business of the Partnership shall be !"""! W:o.j ~L.c.i ~y.:.11 y!.l+;
conducted under the name of .......

Place of Business. .· .Uy.!JI JS.>"

The principal office and place of business LS.J~I .ft.JIJ ~.)I _)Sy.II~

Ronald A. Anderson, op. cit., p. 665 (')

 of the Partnership shall be located at
• · LS I ~ · LS.J.J..-... ·-11 (.)A~
· i 1~1• .J u~ LS I u-i JI . . . . . . . . .. . . u-i ~ y:JJ
If at any time during the existence of th e ..:..SJ . . . .. . . .. . or such other place as the
Partnership it shall become necessary to ~~I .:i~J •.fo ~ ...:.ill}il 0" Partners may from time to time designate. . .;:i.Y ~ 0" .. IS~I ·~ .J:i.i
·
increase the capital · w hi1c h th e sa1id ~ . ->--"'•L.J. LS j_jt JWI c..>"l.J •.:iLi.J·
with •
Partnership is doing business, then- upon ~ ~ ~~ • ~~i ~~1 Term. : '-s~ ~I
the vote of the Managing Partner(s) - each ,) ~l.l.....)1 .:i........WI .....1~1 (.)A ._.y.. The Partnership shall commence on ~J u-i ~~I i.i.:;
party to the Agreement shall contribute to ~~I 0" I) c)c. .. ~' !"44 and shall continue for years, unless I.A' l+--il • _ 1 L.. - . _ ·
the capital of this Partnershirp wit· hirin ......... ~ · ' ( ~~ · .. -.11 " IS.J- •11 J I) ~. ,_11 earlier terminated in the followin _ J · ~ ~ ' "'-i.. ······· • .i..J
days notice of such need in an amount .:.;~ u-i ~y!JI Jl.. c..>"l.J manner: g 9tJI c.i.>1:JI LS-A~ 441 ,.l...;,,.i.;1 J,.i
according to his then Percentage Share of ~ ..,..._l..\:JI 14! • .;1..l,,:i.! ..:,.. L..>.!
Capital as called for by the Managing JWI ...,..I .J u-i ~ ~ t" .,......w,i
Partner(s). ~~I·.·' L ! t...,.....:i.. ~1:i;i (a) by the completion of the purpose .:i _,____w1 u.:...>--AJI JWS.1 .llc. ( I )
. ( i.:uy,.i.JI "IS y!JI) y,.i.JI
intended, or
.JI ' l+->..
(b) pursuant to this Agreement, or JI , .li.JI 141 wJ (y)
The Percentage Share of Profits and c'-u'il ~~~JS~ u.f'J (c) by applicable laws, or
Capital of each Partner shall be (unle~s ~ ~ ~ rl ~)~I c..>"l.JJ. ........ 0-----,i.il _,i ~ ~ (~)
otherwise modified by the terms of this : ~ t...s ( .li...11 1.:i. J..J->"" ..,...,...~ JI , !+! J_,__JI
Agreement) as follows: (d) by death, insanity, bankruptcy, ) ' UJ i? .JI• >liJ .:i.....:.c (.:i)
Names: . ······················: .. ~\rl retirement, w1ithd rawaI resignanon
· · _.JI ' '-'~1 .. ">l•I
· . · JI . • .:ic.i.i:; JI • ~.
Initial Percentage Share of Profits and cl...----' . .) ..r 'JI . L--J.I
.J °' JI ~I
. expulsion, or disability ~fall or any of ~'_Jiu J1 ~)..Ji• .Uli:i...)
Capital: . . . . . . . . . . . . . . . . . . . : Jl___.JI '->"i .JJ the then Partners. · 0:!:!5411 ~ISy!JI 0" LSI .JI JS

No interest shall be paid on any ~~"-:ii J:- •~ti "-:ii~ 'i J Purpose - General. :'-s~ i-WI ~fl
contribution to the capital of the ~~ ..s'i ~ 'iJ. ~y!JI ~i.J The purpose for which the Partnership is ~fo <L.41 0-- i' (.S:i.11 U.:..Ji.11
Partnership. No Partner shall have the right JL.JI c..>"l.J u-i ~ ~"'-! ..,..J~ 01 organized is .
-------t·o cman he 1ctu111 oHTis capital . ~I 1.:i. ~ :illi; (.)Ai .:iy, L.. tJ
contributions except as herein provided. .:.;fa. 'i , .!ill .)c .li...11 ~ r! L..J Article II ( Y) o JL..ll
Except as herein provided. the individual yL_....:.SI u-i ~I 1.:ifa 41~ ..s'i FINANCIAL ARRANGEMENTS 4l.JI ~~
Partners shall have no right to any priority ~ ,.ISy!JI o- .y,e. c)c. "-:!_,lJI "-:ii Each Partner has contributed to the initial JLJI c..>"i.J ~~~JS 1"41...
over each other as to the return of capital .JWI '->"l.J u-i ~ ~"'-! ~ capital of the Partnership property in the ~ ts~1 ...:.iL.....St...J c..>"1...)11
contributions.
amount and form indicated on Schedule A (I) ~I ~~_,.JI ~I.JI
attached hereto and made a part hereof '" ~ ~ LS:i.llJ .li...11 14! ~I
Distributions to the Partners of net ~ .. ISy!JI .)c tJ>.!J
Capital contributions to the Partnership u--1c .i._jl_,i ~ 'i J . ....i L.....w
operating profits of the Partnership, as L...J wJ ~y!JI ~ c'-1) .)\......
shall not earn interest. An individual H.J • ~~I Jl.. U"i .J ~
hereinafter defined, shall be made HJ, ' i.U li....A ~ ~
capital account shall be maintained for ~i.J y~ 41~ JS! .1.Uh)'I
at............... . Such distributions shall be ...:.._jJ ~ ,.ISy!JI .)c t:iJ_,;.11 lj.\
each Partner. . J.-&;..
made to the Partners simultaneously. . -AIJ
Such assets may be sold and turned into .)) l+l:!_pJ_, J_,....~1 °1\ (::! j~~ For t~e purpose of this Agreement, net C"!.J ._.jl....a ~ , .li...11 1:i. ~ ·
cash as soon as possible. The proceeds ~.J · tfi...... us_, (.>""4 ~..iii Jl_,...I operating profit for any accounting period .)L....,..) ~~•fa ~Y J·•~fi ·
thereof shall thereupon be applied as ~~I ~:i ~ u~ shall m~an the gross ~eceipts of the •_;.....ill a...t tJ-..c ,u~,· ..:..~_,,.L.
· 11.:Jl~I Partnership for such penod, less the sum ..:..L....i_,~1 ~ W t.,w L. ·
follows; · c.r
of all ca~h expenses of operation of the tl4..JIJ .U~I ~~WI=
(A) To discharge the debts and liabilities .U~I w~l-?11: 0~ ~ (I) Partnership, and such sums as may be ..,.b~! 0----:!~ ~_,~1
necess.ary to establish a reserve for ~ .L..i.c.J -~I ..:..uJy...o..J
of the Partnership and the expenses of ·~I~) .•~_,
operating
. expenses. In determining net ~ ~ )i 'i , ~I
. ~~~.,
liquidation.
operall.ng_ profit, . ~eductions for L-WI .:..~u.a........)'1 Jt_;,c.)'1
(B) To pay each Partner or his legal YH 04 _,I ~y:. ~ .,.I.be.) (Y) d.ep~ec1at10n, amortizanon, or other ~I JI 0./.lll ~! JI wl£:1.A'IL
representative any unpaid salary, Y~ _,I ...,..._:i..>- <.o>i l..l_,.;u .i..;c. similar charg~s not requiring actual ~ 'J ~t.... i.S~I u..Jb
drawing account, interest or profits to ~ ~ c4) _,I •.i;u _,I ..:..4~ current. expenditures ~f cash shall not be ~ ~ ~ ~ .:..u_,~
which he shall then be entitled and, in .J_,_..,Sj.J ~I ~ ~ \.+a-9.l take~ into account in accordance with . ~ -->"'11 ~6...JI .;....w1 J~
addition, to repay to any Partner his t:-"' • ~?JI I~ ~ ~ general accepted accounting principles.
capital contributions in excess of his U"l.J .) 4Y:. ~ ~ i'+"'I l.. .l_;
original capital contribution. ~~I ~ .)<:. o.l4j JWI No Partner shall be entitled to receive any ~..,.:; t.>I ~ ..!L • 'J • "
. fr ....>"" i.S (-"""'! ' .J
. JWI l>'l.J ~ compensation om the _Partnership, nor yL.....:.. t.SI ~_,I ~~I 0-
shall any Partner receive any drawing -~ ut .._,,.......
(C) To divide the surplus, if any, among .)<:. • .i.,.'.,, 0! • ifa.ili.ll ~jy (~) account from the Partnership. ·
the Partners or their representatives as L..S ~ YY:! 04 _,I .,.ts?JI
follows: : ~ Article III (l") iJl.J
MANAGEMENT i)J'/I
1. To the extent of each Partner's then U"l.J ._....! 4~ ~ ...,..~ fo. ·' The Managing Partner(s) shall be: ~~1 o).l! ..,l.i>:!
capital account, in proportion to their ~ ifa.ili.ll tJ>.! ' ~ JWI ........................ The Managing Partner(s) ~LS~I JI) ~I ..!L. -.11 •
h . • • .J"'"" ~J
then can· ta accounts. ..:..4~ · ~l~l .lli~ ~ ~ shaII h ave t e right to vote as to the ;,).l'/ ~ u...-:_,_:;i1 · 1
managemen an con uct of the business : ~ L.S .u~1 JL.c.l ~J
of the Partnership as follows: ..
2. Then according to each Partner's then ~ Y..- ~:.i ..l"-! ifa.ili.ll tj>.! ·" Names vote wl~'il Jl.....'il
Percentage Share of (Capital/Income). U"l.J ._....! ~ ~Y:. ~- ~
No Partner shall have the right to 'i_, · t..,.....A)l.S _,I ~I _,1 JWI Article IV ( t) o.>WI
demand or receive property in kind for~ _,I~ 1) 4~ i.S~ ~ DISSOLUTION ~~ ~
his contribution. . ~ ~ ~ 'il_,...l In the event that the Partnership shall t.>Y .!Ll:i .l...-o./ .U~I J,. U:.. ~
hereafter be dissolved for any reason J..c. Jb.ll ._.j ~, y~YI 04 '-:-1-!-
Article V ·(o) &.>WI ~hatsoever,_ a. ~-II and general account of ~L.lji.JI_, l+l....-4 rl.c.J J,.LS yl.-.
Miscellaneous ~ufo.. its assets, liabilities and transactions shall . ~~_,
The Partnership's fiscal year shall u-l .Uy:Jl ~I .4.:......ll i.i.p- at once be taken.
 ri 0
- ,,.. .r-•.IJ JU,:.;,...
~u .r=

- The Partnership shall maintain ~ bank

,..J....,
~•I • • • 'l.tJI
.-=r .!..i..>..JI
.

I commence on January I st of each year

accoun t Or bank accounts . m the and shall end on December 31st of each l"L.:. J-s .;,.. Y.l;,/ LJ.- J}iI
Partnership's name in a national or year. Full and accurate books of JS .J.o ~..i r1 e » v+Ui.J
state bank. m · the State of ---------- account shall be kept at such place as yLJ..i,. ..6~ )'I ~.J . !"ti:,
Checks and drafts shall be drawn on ..:;LS.JI u-9 ~..i.J .U.LS ~t.....,.,
the Managing Partner(s) may from time
the Partnership's bank account for to time designate, showing the ~'i ~ u.- ·~($.ill
Partnership purposes only and shall be ~LS_;.......:Ji .Ji) J--.1..i...ll 4>JI
condition of the business and finances
signed by the Managing Partner(s) or of the Partnership; and each Partner o.L...i, ~_;..J ' (0-.1.J:l-l.JI
their designated agent. ~_,Jl.J J-11 tl...4.J[ ylhll
shall have access to such books of
account and shall be entitled to J_s ~ U...J . "-Sy.:JJ .)WI
yl.hll 01' u-1c t)IJ.)'1 4_;.Z
examine them at any time during
ordinary business hours. ...:.W.J -si u-i ~ ~~I
- Any controversy or claim arising out of . ~..iWI J-ll ..:.ti:,t.... ~
or relating to this Agreement shall only -At the end of each year, the Managing
be settled by arbitration in accord~nce Partner(s) shall cause the Partnership's ~ ' ~ J_s ~l+.i u-9-
"th the rules of the Amencan dS_;- ....:..JI) ..>-;!.WI 4.;-.:JI
WI b" accountant to prepare a balance sheet
Arbitration Association, one Ar itrator, ~.;-.:JI ~t.- (..:;_,.)fl.JI
setting forth the financial position of
and the arbitration award shall . be the Partnership as at the end of that ~_,JI ~ >- ~1...if.. ..il..lc..4
en1orcea
c. ble1 in any court having .!LI:; .d._;t+.; ..,...i "-Sy.:.11 ..)WI
year and a statement of operations
((co~etent~~ ..:.~1 ....L...:.S.J' ~I
..,,.. (income and expenses) for the year. A
.!.lJjJ (..:.LiJ~IJ ..:.l..ily,)'1)
copy of the balance sheet and
Witnesses: : .1.,,...s.n j........ o..)>---4 ~ .J . WI
statement of operations shall be
I . --------------------------------------- .................................... ' delivered to each Partner as soon as it
J.....S.J wl.,i.1-.JI ~.J
.L...i.~..i~4~
~1_>....Ji

.................................... y is available.
_
-----~2:·;-:-:-;-;-~---_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_- ~~~~--,-----~~ an~sall ~d~m~~~~

: ,.LS~ waived all objections to any transaction ~Jjlri..ii4_;.ZJS~

!.-------------------------
Partners: · · · ·············· ····· · ··:·· ···· .' or other factsdisclosed
Partnmhip about theinoperation of the
such balance "'---:ii u-lc
..:JL....:ol fa )'I JS

2. ------------------------------··----- .. · · · · · · · · · · · · · · .. · · · · · .. · · · · · · .. · · · · ·.. .Y sheet and/or statement of operations tu_,Ji u.- .!ill ...>#- ,,1 .U.t......
L.... "-S>Ji ~ ~ ._,:JI ii
Dated: . ol_A~~~I~
....... ·•·•••••••· .•. ••·••• •• c-'....J
· WI unless he shall have notified the
Managing Partner(s) in writing of his
objectives within thirty (30) days of the
.JI ..:iL..,J-..J1 u.!..S _,j ~I _».JI
._>--.bi .w ~ ~L..' L...i.::ts I
~LS _;.-.:JI ) ~I 4.;--!JI
date on which such statement is mailed.
u-i •..l,!J:! ~ 1+,>WS ( .)./y,..i..JI
j........ L.Y. (r·) ~ ..J~
~1 1w JL.......J.' t:·ul:i
·..l:!.,;,J4
4. Capital. <.J.t~ '-s~ r *' . .
PARTNERSHIP AGREEMENT
The Partnership's capital is , paid ~ t9.i y. ~y!JI Jt... U"'l.J ( (')~~ J,..ai <.)t j~l..)
in full by Partners. The First Party's J.J'JI u_r-hll ~J, .. l.Sy!JI .:,,...
contribution to said capital is , the ........ u-'t:.11 u _):.JI J .. .. . . . .. . .. ~ This Agreement, made and entered into
•····••· ('Y. ~<I.ii
Second Party's contribution is and this. .........................
. .. .. .. .. . Ult:JI u _):.JI J : 0-4 JS ~ ~.)l.j -) .)~
the Third Party's contribution is ,•... By and Between :

The Partnership's capital may by " a1;;.; JI JWI U"l .J •.il,!j j.J'HJ First ·· · · .. ···... .. .. . ( F"irst party ).
unanimous agreement of Partners be . ~ ~ .. tSy!JI t 4!-1 (JJI u_J]..) : 'O
Second : ( Second Party )
increased or reduced. Third ·. ··············· ( Th.Jr d p'arty ). . (ul.j u_J]..) : ~l.j
( UJl.j u_J]..) : t:Jl.j
5. Term. : '-sy!.ll 0 .1....1 --o

The parties hereto declare that they have u~ ~L . 'L....::..J -1

The Partnership's term is year(s) 0--- b ...,u ~ ~y!JI .~ •..w legal-capacity to enterinto this Agreement Lui u-.1.....G:i ~ · • ·. u_~ t, 1 ~.;
commencing on and ending on , ~~Li -) ~J .
and he eb ti · ->"" U:l,,...... i..r- _,...,J
r Y a~ee to orm a Partnership in :~'JI J.. y!Jli .
renewable for other similar periods unless .i......o..1 ~ t1t... ~t..... '5.?-1 .i.l.J accordance with the following terms and J . ~

either partner notifies the others - by 4c ..r-JA y~ .Y..?-'il .. tSy!JI conditions:

registered mail, return receipt 0.l-o L...:i~ ~ Jl,....i.i)'I -) ~ ...>!
acknowledged - of its desire to withdraw •J'--.i.! •~ >.i........ L..,il JI ~y!JI 1. Name.
: '-s~ ul~ -I
from the Partnership, ... months at least . Js"°)'I ~ ~ •••..•.. The Partnership's name shall be·
. ············· J,>c
. . .. . . . .. . • . .. .. .. .JA ~ y!.11
before the end of the Partnership's tenn or
any renewed period thereof. 2. Object. : '-sy!JI ~.;. .... ,.
The Partnership's object shall be: ..................... : .JA ~y!JI t..f.oP
6. Management and Right to sign for
the Partnership. 3.Pri . ·--..
The Partn hi ' · . il:S.,,._, J~>".,.,...,.,_ _
The Managing Partners shall be (A) and ~ ~ji!IJ ~y!JI >).i) ers ip s pnncipal office sha11 be ..... rt.J t)...!.i ~y!JI jS
(B). The Managing Partners shall conduct .Li\.S l....t---JJ ·..; J ·1· -.r1'
U_,$_,.. located at :·········. The Partners, ~..>'"'! 4u.JI ~::.
the Partnership's business, sign for the ' ~_r-o!.ll ~..,>--.i:- ~ ..:.Ual..Jt however,. ,may .decide to transfer the JI ~y!Jt jSy Ji; ~.J, .

Partnership and shall have full authority to ,) .I..~ .il.;---&;l'I ~ ~ JSlJ Partnership s pnncipal office or any . "\.Sy!JI cJli:ili i.,c J.) Ai
achieve the Partnership's object. Each \..+-lo~ ~I ~'it ufo branch thereof to such other places as they ·
may designate.
Managing Partner shall have the right to '~l~I ~J ~y!JI u'.Jla.!
act severally on behalf of the Partnership wl~ ~ L4 ........_., ~
provided that the actions thereof shall be &-4- W&- ~ ~.:; ~I U'.:l..1......11J
included in the Partnership's name and UL___SJ~IJ .
objects. However, the covenants and ~~I wl.Jlic. eft JI iY'Y. l....:.Wt
Each Partner is entitled at any time to u--9 ~ 1) ~ JS ij:.. U-0 0fo..J transactions in an amount exceeding ~_>--.J.ll ~.) •:llli wfill ~
examine, in person or through an ~_>--.J.ll JiL....il ~ .. ~ ...::...i.J ..sl ............... and expenditures on the .~ .. ts~1 u.- .;.l.Ai ul .J:!All.J
accountant, the Partnership's books and L.JL..... _,I .U...1.J! .JI~ lA~.;~ mortgage or sale of the Partnership's real
the balance of its accounts. ·~~I .. 1~1 .Al estates shall be enforceable against the
Partnership and third parties only if made
In determining the final amount of the c~)il ~ ~.) ._r.ly,.J by all the Partners jointly.
Partnership's profits and losses, the Jl_j.iL.....I ~~ ~4-JI _;.i~I~
amounts of employees and workmen's ~L..+JI.J J\-.uJI .J ~~I .;fe-1 7. Accounts and Fiscal Year. : ~ ~J ~ -v
salaries; depreciation amounts of the u'i'il.J .lla.11 ~I ~ j.)L.U _;lll The Partnership shall keep organized ..:..i4~ ~ ~.;~ jili.i ~
Partnership's equipment, machinery and 4i<1 ... 11 .,..Ul~I ~.J lAJ,!~.J books of account in which the l.S.l.....iill JWI u-l.; ~ .l...oy, ~~1
the replacement thereof; taxes due; and ~_;lit ..:..iu.J~I U-0 lA..J::IC.J Partnership's capital in cash and in ~ l+-! ..J_,.L.j L-...$' ~1.J
such other expenses as may be required · J-ll y,.. ~ property, all expenses, incomes and the ..,.......... lA..J::IC.J ul.ily,)'l.J ..:..iu.J~I
for the good conduct of the Partnership's like shall be entered in accordance with .~.;4-=JI J_,......)'1
business will be taken into consideration. the generally accepted accounting
principles.
8- Profits and Losses. : ~J c4)il -A
The profits and losses will be distributed c.lS~I L»! _;.i~l.J c4)il t).;; The Partnership's fiscal year commences ~ ~_r.-..!JJ ~I ;;._;____i1 i-¥i.J
among Partners upon their approval of the ~ ~_,L....JI ~lj:.JI .il...:.c.l ~ on and ends on The ~ .) ~ .J •...........
annual balance sheet in accordance with : ~'ii y.....il4 first fiscal year of the Partnership, ~I 1-¥i o.k.l.ill .~ u-- c.l..W..1 ~i
the following percentage shares: however, shall by way of exception, ~~I i.J:!fo .. ~ o- u-1.J)'I "-:JWI
commence from the date the Partnership ·t-llill ~ _.».i u-11
1-
2-
3-
per cent for the First Party.
per cent for the Second Party.
per cent for the Third Party.
J}JI w).Jl ~WI.)
._,..i\jJI w).Jl ~WI.)
Ul\jJI w ).Jl ~WI .)
-I
-Y
-I"
is formed and shall end on the last day of
subsequent December . I
At the end of each fiscal year, the J_,_.....I .iyi.:; ~......,JS ~i...; .).J
Partnershi 's asset ill.be cl .'::1\'~.....i;~":11------r
Where jn the balance sheet owmy..iiscal~1·a '~_,..~ . counted, and a profit/loss account and a 4_,..c. ~I_». J-:;.J ._;~1.J
year a loss has been revealed, such loss •~till~ J...Ji ul.Jlwi.11 ~.Al
shall be carried forward to the subsequent .. ts~I u-1c. c4) t).;;'i.J' 1:is...J
general balance sheet will be prepared. ~;. .i~ ~ts~I > ~F
The Partners shaJI, upon signing the L..J:! y:.c. .t....u. ._r:o.. ~ .JI \.#
year and so on. Dividends shall be .~L..JI ..:..il.Jlwi.11 •.;~ ~ ~ 'i) balance sheet statement or after the lapse ~ JS.I l+-1.. • .;.,.- ~.;) ~.;l:i .).o
distributed to Partners only after the losses of fifteen (15) days from the date of . J_,.-_,JI ~ ~ ...,...~
of the preceding years shall have been sending a copy thereof to each Partner by
covered. registered mail, return receipt
acknowledged, be deemed to have waived
9- Competition Prohibited. : '-5.;<!J! ~ P -~ their right to object to the facts included
No Partner shall compete the Partnership's '--'"'Li:!
.:.;I 4!~ JS~ .;_,b... therein.
business by carrying on any of the JL-.c'jt U-0 J..c. <.Sli r4ill! ~~1
 remaining Partners shall have the option ~.J ~~I c.:,.. 'J_,...,.a... ~~I
in such case to: 1) deem the Partnership •~ ~l.J..i... y.l v-l....l ~ ~ Partn.e~ship's actrvities, otherwise, the .ts~I ._..541 ~ 'i!.J, ~ ,.fo ~I
automatically dissolved; or 2) deem such ·!"4.a.J ~~~I .)~It'" .u.. remammg Partners shall have the right to ~~ J::L;..)'1 ~ t'" .u...; yU..
Partner dismissed from tlie Partnership. d~mand the dismissal of such Partner ' Ii.A ...S~ o- 4:;Ull ..:..~_,.ul4
The capital share of such Partner will be without prejudice to their right to claim J_S u--1:- ~l .;.,.b.. ~ ,) L.S
settled on the basis of the last balance appropriate damages for such behavior. t-1-5 e·:UL; U-0 ~ ••.. ~.l..l ,.+l..
sheet he/she has approved and the The above-said prohibition also applies to .~~4 ~
each Partner for a period of .... year(s) as
Partnership will continue to exist among
the then remaining Partners only. of the date of his/her withdrawal from the
Partnership.
12- Partnership's Dissolution. : '.s.,,.!JI ~ - 1 Y
The Partnership will be dissolved before the ~ ~l+=UI J~ J,.i ~~I~ 10- Withdrawal and Assignment of ~ Jjl--MllJ ~"'ii - \ •
end of its term if Partners so unanimously I~! _,I, ~ ~ .ts~I t41 "J6. Shares. :~
agree or if the Partnership's losses exceed ~ yt...All ..:.ij_,t.,..:;
......... per cent of its capital unless it is agreed t, •·• .n , JWI I . · ·w· 1 No Partner shall withdraw from the i.j.-A ~ ul .ts~I .al.; J"":! 'J
. . ..,- '-""':! ~- ' V" .) '-"' ~
that the Partnership will, nonetheless, . ~ U.. _,.. .J1.1 U..;I W....I Partnership before the end of its term, nor ~ ,) 'J_, ~ ~lt-l J,.i ~~'
continue to exist. r- .,- shall sell or assign his/her shares in part or u-c _,I l+--lc- Jjlr.,i _,I ~ ~
in whole without the written consent of ~_?.YI ~IS~I "-iil-'41 'i! l+l.o <>""
13- Winding-up and Liquidation: : lfl-iiJ '.s.,,.!JI ~ -\r the other Partners. .~\JS
In case that the Partnership's Agreement is ~ r.;Y ~~I~ •l+=UI "-l6..)
terminated for any reason whatsoever, the 1, ;J; ai1 .ts~I ,.~ , y~YI c.:,.. 11- Death or disability of Partners. c,jlJ...li Ji ,.1.S~ .b.i &l.iJ - \ \
Partnership will be liquidated in such "J6. ~.J . ~ <.J_,illJ ~I ~.)J\.i :~I
manner as Partners may decide. If Partners U...)"AI ~I ufo Jli:i'il ~
fail to reach an agreement. the Partnership ,.J l~\,i, .ts~I ~I •.;\Ai i.....i..-.. If a Partner is dead, placed under ~I _,I ~ts~I .al r.u,, "J6..)
shall be liquidated by a liquidator to be ~ i.....i..-.. .;~) ..,.l! ~YI <J!_,:J interdiction, · declared insolvent or 'i • ~! _,I • ) ....c.) .).~) _,I ~
selected by a majority vote, and, failing ul· ~ , ~I ~I .ij ~ bankrupt, the heirs, representatives or ul "'--#1..i _,I ~ ,,1 .u;.;_,I J"":!
this, a liquidator shall be appointed by the ~I o- . ·w1 ·1.... • · • · creditors of such a Partner will not in an · JI YI · ~ LI
competent court o aw. e net proceeds v-.; ~ ~ ~ .ts~I ~ way ave the right to demand that the _,l ~~I wl.....it.... ~ ,_IAYI
of liquidation shall be distributed among . JWI Partnership's property be placed under i.:,i_µ y--i I~ J 'J,,, t.,:......i
Partners in proportion to their respective receivership or be wound-up, nor will they . ~)..ii
shares of the capital. interfere in managing the Partnership's
business.
14- Disputes among Partners.
the Partnership will continue to exist ..,.SL...i ~ L...;U ~~I ~.J
Any dispute arising among Partners or ~_,I• .ts~I ~ ~ tl.Y JS among the then remaining Partners and ~ _,l ,.+l.. ~ji.JI ~.).J.J ~IS~I
between a Partner's heirs or r.;~ L>"'~ ~_,I 1"4.al ~.).J ~.J the deceased Partner's heirs or ....SW~ ~I ~ . ~ W
representatives and the then remaining w~ • .l-.i.JI 1.:i. .l._,y! c.:,.. .l.y! representatives till the end of the ~_r-o!.)1 .;t;.c.l .UWI .:i. ~ ~is~
Partners concerning any conditions hereof ~ L>"'~I ..;.- ~ J.,..:.ill Partnership's term. However, the then l.l....A .;t;.c.l _,I ~ .ut c.:,.. ~_,..&.
 shall be settled by the...... competent • ~_;~I ••.•••..
commercial court.

.,..,,..b .u.r. - l" 15- Registration and Notarization. :~ )+..!.~IJ~~ ~ -\ o

;;.,.~ ~ti-.:.lll ~~ The Managing Partner shall at the 1:i. ~ r-fa 1.) ~~I~~
Partnership's expense take all the legal • ~_,.ilill cJ.;hl4 "'-ic. _;l+..:'ilJ .ii.JI
Articles of Incorporation
measures to register and notarize the . ~~I cJ:i~ ~ ..:.uJ..>'44:' .
of
Partnership.
A Limited Liability Company
16- Counterparts. : ..iM.11 ~ - Ii
Made on this , the (day) of ~1,.JI r.» ~ ..,_;i
................... (month), (year). Executed in three (5) counterparts, one per ~ • ~ ~ 0-o .ii.JI 1:i. .J~
............................... ~l)A each Partner for necessary action. The ~ ~ o..i.:..IJ .tS~I L.JA JS
By and between the undersigned: : ol.i.ll ~,.JI ~ t4 original copy shall be deposited at the Ji..! ~)'1 ~I ..l.ob.:i.J, ~>41
Partnership's principal office, and the (.l_,....:.i ~411 ~1 L.i, ~~I
l. Eng. .. , ................. ./U"~l~I .\ remaining copy shall be deposited at the~ .l-""'_,.JI l.S_;~I ~I~
freelance architect, Egyptian, Christian, lS .J---'4A - ~ LS .Jt..-... ~ J local commercial register office. . ~~I .fiya <1.:iyl.l
born in on , ID (family) No. .l~_,.JIJ ~4.l.11 ~ - ~I
................. issued from civil
.u~ ~J ...... ~.)~ ..... ~
register office on with his
domicile at .. t-u~ ..... ~ .... roJ_; ~~
...... ~~IJ ....

2. Eng: . ....................... :~1~1.r '1

3. Eng: . .. :~l~l.r'
4. Eng: . . : u-..l.lt-JI ~I . f

The parties hereto have mutually agreed to i.J":!--""l:i ~ · .. l41fa.J) .l9

establish a l1m1ted hab1 1 company in L:iiJ o.lJ~ "-:!]_,;........ ..:.lj ~~
accordance with the provisions of applicable .jyLJ r-i.s,..1 J o:i.9Ull ~I _,ill r"t.S,..'J
laws; law No 59 of 1981 concemingjoint- ~_;ill ..:.lS~J ~L....JI ..:.lS~I
stock companies, partnerships limited by
"-:!]y.._....JI ..:.1::, ..:.lS~IJ f+"'Y4
shares, .and limited liability companies and
' o ~ e--J.J ..:,,_,;lil4 yl..w:.ll o.lJ.lo..All
the executive regulations thereof; and the
provisions hereof. The parties hereto declare ~IJ~~l ..:.:.:.'iJ '~"' ~
that they have in establishing the present .L-J ~I .j_,...!,.JI .fa.J , .lWI 1.a
Company complied with the rules provided 0---:!-il _,ill ._,j ;, _;_;WI .i.:. I _,ill I _,c.1 _;
in the above-said laws. .~~I .:i. ~l:i ~•_;.,.Si.JI
 Article (4): Head Office ~~ .)$.)A : t o.iL.. Chapter I J.J'il "r'4ll
The Company's head office and legal ~)I ~~I j-Sy 0~ Company's Name, Object, Term, ~.1.o - '+-4..P - ~~ l"""I
selected domicile shall be in the city . .. ~ ~ ylill 4->b_,..J and Head Office rlall ~.)$>" .
of The Company's Directors, IJ.J~ 01~~I1.5.Y-.l.J j~J
however, may decide to transfer the L.+;.. ~I u-1! ~ )1 .fi _;.JI
Ji; Article (1): Name ~~ l"""l: (' iJl.o)
Company's head office to any other place ~ j~ w; ~I ~.) -_s_?.i The Company's name shall be ABC ..s-- <,.,...--! ~ ~ ~~' !"""!
at the same city or to establish branch •.:.i'iL...5. J } tJ.) ~I...!.;) IJ.Jfa. ..) Engineering Consultants, Ltd. ..:.1~~~·~1..:.1~
offices or agencies inside or outside . ~ .JWI .) Ji ~ .) ~ y!.11 . •.:i_,~~.,.....
Egypt.
Article (2): Object ~~ r,JA..P : ( '\' iJl.o )
The Company's head office, however. ~.i.. .)! ~)I .fi_;.-11 Ji; l~)J The Company's object shall be to ..:.L....I yll ~I~! y. ~~I e,jo..J:.
may not be transferred to any other city ~ ~Li.i .!ill 0fa. 01 !"»
-.s..?-i conduct studies, design, and all types of .,....k .01 ·'i•I\ Jl.c.YI_, ~1_,
except by a resolution of an extra- ~.:iWly,t;. .i....WI ~I .,;.. ).) engineering works including architecture; ~I l+---J' ~ ~I_,.;\ ~!
ordinary General Meeting of the Partners. . ~l.Sy!.11 city planning; civil, electrical and .0 • i4 I\ J c.).l.JI ~
1
J ~L...JI

mechanical engineering; ,and all similar '~~,_,~_,.si1_,~1

and related works. ~~~1~y1~J
Chapter II . l+! U....:WI_,
Capital - Shares
The Company may have an interest or ~ l+l 0fo 01 ~y!JI )~_,
Article (5) : : (o) o.ll..a engage in any respect in business with ·~)I .:,.. ~J -.s4 ~~ 01 Jl
The Company's capital shall be one 0J---:!l.. F. ~~1 JL. (.)"I.) .:i.a organizations, companies or individuals JI ..:.\S~I _,\~I~ jt..c.l ._,.i
million Egyptian pounds (LE I ,000,000) t)_,_.. (.$~ ~ ('' ••••••• ) carrying on similar business or ~ )lt..c.l ..;.,lJIY. c.Jilll .:il.)YI
divided into one thousand (1000) shares, J-S ~ ' ~ • UJI • ' • . • u-1! cooperating with the Company to achieve .,....k ~_,.;fay _,I t+JW.4
c.Jilll
of one thousand (1000) Egyptian pounds \.S~~·ui1· ' .•• ~ the Company's object inside or outside ~ JI ..>---- ~ ~y:. ~
each, fully paid in cash. The Partners' .'.i.....AJ'~Ua o>~J Egypt, and may merge in, buy, or be .,-J ~ 01 l,.J j~ w; '~.JWI
contributions to the capital are distributed ..,-Jc. ~\S~I ~ ~j_,.. ~I consolidated with the same ursuan o ~1 ~-·
-------------a"l:-116H~. law No 159 of 1981 and the executive '
0"
~ .J 0,;WI r~ Y ~ '+---
regulations thereof. • '"1'>1•»11 ~'IJ '"'" w
Name: .. ...... ...................... : r--"" 'j I
Nationality : . .............................. :~I Article (3) : Tenn. ~_,Joi i.M : {f) i.Lt
The Company's term shall be twenty-five ~ u--:0..) Y 0 ~ U~ u .......
No. of cash shares : .. . .. : ~I ~I .l.lC.
(25) years commencing from the date of . u~ ~.;:. <>- 1.l,l'.i ~ ( wfa ~
Value in L.E. : .. ............. : 1.5~1 ~~I· the Company's registration at the UU.J j_,......+Uc.S~l ~ .r
Percentage share: . ....................... : ~.J~I ~ Commercial Register. The Company's · .:iial1 I» ~ ~ J._,A •.:i.Jl
Currency: . .. .. .. .. .. . : l+! ~ li _,JI ~ ~I .u...JI term may be extended subject to the
conditions herein contained
The Partners declare that all the each ~I ~I 01 ~\S~I Jfa.J
 accordance with the terms and conditions shares totaling one million ( 1,000,000) 0~ ~l.J lA.fai.J J..\Sl4 u.i.l
to be determined by the Directors and Egyptian pounds have been paid in full, .l....,j.J' (.$~ ~ (' )
unless otherwise decided by an extra- and that the capital has been deposited at .tL.l,JI ~ JL_.JI vi .J t I~ f>
ordinary General Meeting. the Commercial International Bank in t.r-' - (~) ~.,..Ul t.S.J~I
Egypt, Mohandseen branch as evidenced . ~->--11 o.l~I ~~ ~I
Article (8) : : (") iJL.
by the certificate attached hereto .
The extra-ordinary General Meeting may .J_r--i:i 1) ~.lWI y,i:- ~WI~
decide to reduce the Company's capital for ~ , ~ t.S'J JWI vi.J ~ Article (6) : : (i) i.ll.o
any reason whatsoever provided that the JWI vi) ~'JI All <J=- ~'J 1) The capital shares shall have equal rights ...----i ~Jl......L. li _,h ~1 Jp:;
capital is not reduced below the minimum -
r-J.J · ·un~1~~1
uY - - . in the profits and in the Company's r~! ~.J C.4.J'JI ~ J~
capital stipulated in the executive ~I ufo..J \ '\;.. \ 4..;,.J \ o '\ assets, in case of the Company's ~I .lie. ~y!.!1 ..:,,l.lfo.JA ~
regulations of law No. 159 of 1981. The 01=- ~I_,.. ~I lAly ._,.:JI ~4 liquidation. The Partners are liable only ~ J_J-l:>. ~ 'i) ~\Sy!JI e"y.l,, 'iJ
reduction of the capital must be made in .JI ~I .l.l.....c. LJDL...i;.1 .y,..). within the limits of the amount of their ·~
such manner as the General Meeting may ~I~ .JI~ .ll.l_;....) respective shares.
deem appropriate either by reducing the ~'JI ~I Ji:; 'J ui ~ ~'JI
number of shares, redeeming some of the . ~ ~L. 01=- \.+.l.. ~ The rights and obligations inherent in ~ il.;.)I 1.:..L ...lj'.J)'IJ 1.i,.._.h.!IJ
capital shares, or reducing the nominal shares pass to the successors in title and j-...o J._S ...s~l ~ ~ A.....-14
value thereof provided that the nominal the ownership of shares is purported to L.....a ~Y-H ~ "-:!l! JJ;....:;
value of each share is not reduced to less mean the acceptance of the provisions 1:i..__. e-LS.:..i J_,.,.i ~I~ u-k
than one hundred pounds. hereof and of the General Meetings' . ~WI ~1 ul)~J .li.JI
decisions.
Article (9) : : ( '\) iJL.
The capital shares may be transferred ~\$~1 ~ Ju::u;:o ~ti ~I Article (7): : (V) oJI..
among the Partners themselves or ~...,......._,,...>'"'!_>.?JI ~.J ~JI The Company's capital may be increased ~.l ~ JWI vi.J o.l4j j~
between the Partners and third parties by ~ ,) ~__, •(iY_,... ...#) ~_;=. at one time or in instalments either by ~ ).i-H ~1_,... fol Ji •~IJ
an unofficial (unregistered) contract but J;.._.....J4 u~l JI JW;)'I 11' issuing new shares or by converting the JL__Jl '->"l.J J.--:!,,..:; Ji •.l.......:!.l;I>
such transfer or disposition of shares . .ill:ll .la.JI reserve free capital into shares by a ..tl.._jjJ ~ I I ~ I
-------UUJist-be1 egistered · he-R~ster~-------------t----""lles-ohrtlon o an ex a-or mary General ~WI y,t:. ~WI ~1 0-- J).!
prepared for this purpose. Meeting of the Partners in accordance ~~I,.~ \i,.bJ ~l.S~
with the provisions of the law on joint- u\S~I .:.i_,.;~.:,,... JS~(#
A partner who intends to sell his\her shares ~ ~ e-.fa.a 0-- ~ ~.J stock companies, partnerships limited by ,..........'J4 ~>JI ulS~.J ....._.t......JI
to a third party shall so notify the ~~I o)J) .J\.lu.H e-~ ,) ~ shares, and limited liability companies o.l~I ~_µ1 ..:.,1::, ulSy:.llJ
Company's Management by a registered c"-""'!~..r-.JAY~~ and the executive regulations thereof. . ~I ~'J J "-,!l) .JLl.,.JI
Jetter, return receipt acknowledged, J..---J ~J "-,!l) JjlL..Jl yi!J
·indicating the name, surname, profession ·~ JjlL..JI ~I .l.lCJ ~ti! Where new cash shares are issued. the ~ ~ Ji--'"") ~6. ..)J
and domicile of the transferee and the }-~H L..A.J_,l! •.;1.l)'I ,__,_..3.J Partners have precedence right to ~i ~ ~\Sy:.11 .j~ ·~
number of the shares to be transferred. The • ~tJI ,_41 ~I ~ ~ ~lSy:.11 subscribe in such shares on pro-rata basis ~ L. .l.lC ~J ~ .....,U.S'jl
Company's Management shall, in its tum, .)U......)'1 ~ ~ ~ ~y:.l!J provided that such right is exercised in l.i..A ~J . ~ 0-- ~JS
 alive. the date of signing by both the
transferor and the transferee must be
indicated. Where the transfer is made by
inheritance. the date of signing by the
Director and the transferee must be
entered. The transfer or assignment of
shares is effective against the Company
and third parties only from the date when
such transfer or assignment is entered
into the Register.
...-i "-:!l! Jju:.....11J
Jju:.....11 e;j.Y so notify the other Partners within the ,.1~4 ~I ..ll..lji.........) J/il
e:j;J .. ~)11 ~ .....;~1 ~L:.. subsequent three days. The Company may 1::,)J. ~I I~ ..l..i... 'i)J ~
..s-9 ~I "-:!l) w!i ,:,;.. J ..>:!.i...11 - within one month from the first notice - ..J--.o y._si ..ll..ly_....)'I ~ j.-:....1
, ..:.,ly,..-.JI ~~ J~)'I ~L:.. redeem the shares by purchase for itself. ~~1~1~4y!.
.,r-.:i\ ~)'I ,i Jjl:all ,:,;fa 'i J otherwise. the Company's right to .JWI ...,...i_, ui ~ j.S ~ ~
..):!--A.II .)) Jj ;_s~I .)) ~4 purchase the same extinguishes. Where the
.~I I~ ui o.i,;i ~ju,:,;.. 'i) right of redemption is exercised by more
than one Partner. the shares sold are
distributed among purchasers on pro-rata
basis.

Each Partner and whoever has an interest ~ .,s::. JSJJ 4y!. jS.J jfe-!J
If a Partner is dead, no heir has the right ~ 'i ,.lS~I ..l.-..:1.i oliJ J
other than the Partners may have an access 1:i__. ~ t)IJ..)'I ,.lS~I ~ .» to succeed him/her in the Company and
,i:.c

~J ~y:.11 ui )_,..:..,.)'I ~_,,l

to the said Register during the Company's ...,.-A,;JI J.._.-ll wL...l Jj ui ~I
daily working hours. In January each year.
the then remaining Partners shall, within ~ I_,..._,l...,! j .).!i4J1 ,. lS~I ~
j-..A ..>:!l:i:! ~ ui j.. yJ ' ;.s y!Jl
a list of the records contained in this one month from the date the deceased ._sji..:... ..J,!~ Ji ~I .~ ..li..l_,:;.....,1
..:.L.....i41ll ~ ~ ~l.i 4-;... J.S
Register and any change thereof will be Partner's heirs have so notified the j--o ~ ~ 4-'I~ ~ _?i
~J.,.....S.J~l 1~ uio..l),JI
sent to the Companies' Registrar. . wlS~I W....... .).1 ~ i_,b:
Company's Management, exercise the ..,...-5 _,:..JI 4.r--.!JI 4,j_,J f'4i ~_,l.'.o
option either to redeem his/her shares or ..!L...l::. J , .Uli Jo:' ~~I o _,l..l,1 _,Lb..J-1
Chapter Ill .!.lllll ...,..431 designate another buyer who undertakes _?i > . ~~~fa.ill ~4
to buy the same as per the shares' book . ;_sy!JJ ~I j:..
Directors .u; .•.n ii ;IJ!
value in accordance with the Company's
latest balance sheet.
Article (11 ): :(11)iiJL..
The Company shall be managed by ~ jJ.);!:l.. ;.s~1 :;_,l..l) .)~
A Partner may mortgage any or all of ~ ,y.-' 4y!. .s 'J jfe-! 'i J
Directors to be appointed by an ordinary L_.... ..~IJ ~..lWI ~WI ~I
his\her shares only with the approval ofan ~ 1"''?" II ~I J-4! 'i) ~ Ji t+.J.$
General Meeting. The Partners. however. .)}JI o)..l)'I ~ ,.lS~I ~ f'..li:i
extra-ordinary General Meeting of the . ;_sy!JJ ~WI ~ ~WI
have by way of exception appointed the :.):! L..S
Com an .
first Board of Directors as follows :
Name Nationality ~I
Article (10) :
I: . . : ' A special Register of the Partners shall be ,JJ>~ ~ ;.s~1
: (' ·) iiJL..
jSj4! ~
2 : . ..................................... : y kept at the Company's head office to : ..,.:.~ L.. ~ c.\Sy!Jl
3: . ..................................... : r indicate the following:
- The name, nationality, domicile, and jL..:... J r+i~ .J •IS~I ~t......i -
The above-said Directors are authorized to .l:.......U .U........ i.l...-J •_,l..l'/I .jJy!.4:!.J profession of each Partner. -~J~li.1
manage the Company's business only for ~.iWI ~WI ~I .ilia.i!-1 ..,....:W - The number of shares owned by each J._..S~~l~I~-
one year after which they shall resign at H.J ~I .jJ.);!.i...11 ('~ ~ Partner and the amount he/she has paid. • 4,,J..) L.. )..li..J 4y!.
the following ordinary General Meeting ·~~Jif"'~~·..l\.c.) - Shares transfers or assignments. Where JI ;,.; n n> II .:F-- JjWJI ..;,,'}L:., -
and. then. either are re-appointed or the transfer is made between persons ~_,u 0~ ~ ~ JW;)
replaced.
 Article (13): : (IT') oJl.o Article (12): :(IY)oJL.
A Director may be removed at any time ).fa. uiJ ..;I..) Jy..ll Jiu ~I The Directors represent the Company in its ~~ ..) 4.Sy:.11 ._:,_,~I J..y
by a grounded decision issued by a ~I ~YI Uil-"6-1 ~ ~ dealings with third parties and each of IL.. _,...J 0---:!Jfa.. ~J ~It:"
numerical majority vote of the Partners in c..>"iJ t~) ~ oyWI ~ISy!Jl them in this connection has, subject to the ~4 L. J~)'I u-i hYI r:;- .l.l.w>ll
possession of three quarters of the ~I~~..)~,) "-.IJ' JWI provisions under this article concerning the ~rly) ua~>JWI .~..)
Company's capital and may resign at the i.s-3! tjli>_-)'1 ~ ,) c.r1c- ~WI conclusion of all projects' contracts and L... ..ill~ J ..:.w.....i1 s ~JL.!.....11 J fa:.
u----1:- ~ .fill ~ ~WI ~I deals and to Article ( 15) hereof, full wlhL...JI t"' _,i (' 0) oJWI ..) .l .JJ
end of the fiscal year provided that such
. Js°")'I powers to act on behalf of the Company J_,.._.ia..ll ~IS ~IY.-!J ~~ J..Wll
resignation must be submitted one month
and conclude all contracts and transactions t..fa_>--i:.. ~ 4-hl.lll ~t.......JIJ
at least in advance to the General
covered by the Company's object. The Jj-c_, UiJ ~YI .)cJ 4.Sy:.11
Meeting. Directors, in particular, have the right to
~J 4.S~I ~J ~::i.s_,
suspend or dismiss the Company's agents
Article (14) : : (1 t) oJl.o ~ s ~UIS..J f"' J~l J ~t.,u->"
or employees; determine the salaries,
Where a post of a Director falls vacant, 0-:!~I ~1 ~J ~~! ~..) wages, and bonuses thereof; receive and
~~ J H _;. J tJl+JI ~IS t}.l J
the then remaining Directors shall within ~ ~L....,JI (.).!~I c.r1c- ~ pay all payments; sign, transfer, sell, and
~)'I ..:.1.lL......JI ~IS ~.i....>J tf!J
one month at the most convene an extra- ~I l_,c~ 1.) foYI c.r1c- ~ redeem all commercial promissory notes;
JI _,.JI ~ ~1 _r!. ~ ~ J ~)~I
ordinary General Meeting to consider the ~ )c..Jl ..ili...01 ~WI y,t;. ~WI
buy all materials, goods and chattels; and w'i _,........iWI J ~~IJ ..:.4-JIJ
situation and appoint a new Director. . ~ y,.i.. ~-' ->"YI .L.S. wlJWc.)'I J:!~ t..fal_fa;JIJ
borrow by way of credit. A Director
appointed by Company and a 4.S_r!. L>" ~I 0.!y,J...11 .i:..i J..y
Article (JS) : : (1 o) oJl.o Director appointed by a 2-third majority 0-,!~I .L_.3..i l~J .
The Directors may in their relations with ~ (:--" ~ ..) 0.!y,.wl vote of the Partners in an ordinary General ..,-----! ~\S y:.11 ~ ~I>! ~I
each other and as an internal arrangement l_,__.£1~ ijl ~IJ '-.i.... LS~ ~J Meeting may also enter into and conclude _,...j 4.S~I ~WI ~I ~I
form a Board of Directors and such ~.) ~ ~ ~~ •)..i! cJ'4... on behalf of the Company all projects' ..:.l.ii....JIJ ~.JL.!.....11 Jfa:. ~ rly)
Board shall appoint a Chairman and a . o..;jjfaJ contracts and deals in cash or in credit. _,I Jill4 4.Sy:.11 ~lA...; ~ _;.!I
Secretary. . Ji..\14

The Board of Directors shall be convened ylJ. ~ .~ >)J)'I ~ ~J Loans for which no credits are o ned at wlJWc.l ~-"~·w...-----+i
______ •1~1p~on.tbe.re~~i.ef..the-Gha~man-or°O~:~__:~~~~~;~~, :=:~~~~J~~~~---l----~~~.lp~;traaiise~s~,er,xrcc:iiian~g~eis,~s~a~le~o~f~s~h~o~ps~~~~-~.J~w~-~'i
other members where the Company's 4.S~I ~ ..:.&:...l WS .._.L....A&.I and real-estates, mortgages, and ~_, w_,.)1_, ..:.IJlkll_, ~I
interest so requires. The meeting shall be µ.>".,; t~)'I ~J. ~ ~! contributions to other establishments, ::L..i LSY.'-11 ..:.t.-)JI ..) ~1~)'1
held at the Company's head office oral ~~I ~li..;I.) JI ~~I however, may be made only with the ~ J"6"ll Uil.JA-1 'i! l.Ajlfi') jJ'H
such other place as may be designated in o..>~I ~~ 'iJ. ,_,.:..Ul yU.. approval of the General Meeting by an ~ •yWI ~ISy:.11 ~Li ~WI
the invitation letter and shall be valid only ..lJt;. t4) ~ J~ "iJ ~ affirmative majority vote of Partners w~ y_, JLJI c..>" l.J tL....i)
if attended by three quarters at least of the . JN!~ i).l''JI ~.~I possessing three quarters of the capital and <L-a.i_, lj) 'JJ 4.Sy:Jl L.jl.. u.;.-:i.11
mem bers o f t h e B oar d o f D .tree t ors. such disposition is binding on the ... 1.1 , •
~L.-A.11 L>" •.JF _,1 0:!.Jr- .A
.. ._11 l
Company only if signed by a Director or . lt-1 J,..~ ~1 .u.-14 le. .#w
any other member of the Company's staff
The decisions of the Board of Directors o)J)'I ~ ..:.IJ.>-l ~J
provided that the capacity in which such
are issued by a 3-quarter majority vote of ..:.1_,_...i ~ t4) ~~~
member acts is mentioned.
the attendants and in case of equal vote, ..:.1_,_...y1 ..:.JL-:. lj)J ~_r:..Wl
 Article (17) : : (IV) oJWI the Chairman has a casting vote. The ...::.il).ftl1 ~J ~_,...~)I .j~
All Company's advertisements. ~J...'...il.....i'J..:.'jl~.)~ Board's decisions must be. recorded in J,..... .s9 .jJ..i:i ~~ ~ ;, .;,,S.l.JI
contracts. papers, and other publications ...::.iL.~IJ cjl.;J'JI ~J .lfa.ll minutes entered into a special register ~ ~Y.J ...;~ .t.,sJA ~L.;.
must carry the Company's name .........I .Uy:.11 _JA .;..i.....J ._,..-.JI ..sY,..'J1 with numbered pages and must be signed ).~ .......) ~ I _,5.~I .J:!~I .JJ~I
preceded or followed by the phrase "6.;~ Ji ~.) J .U~I
~ by the issuing Directors. Copies or ~.J cj~J . ...:..1.;1_;-:&JI e11.
"Limited Liability Company" written in ~j&." o.lJh... "-:!]_,:,....... w1:i .Uy!. extracts of the minutes must be rati tied ...:ii.,. fa---..... JI »s-« ._.le ~I
clear and legible letters, the Company's .j~ (':" 6.-. Jfa J ~I J w ->""\.i by the Chairman. . ~~1.11.
head office and the Company's capital in Jl-JI .J"i .J .j~ J .U _;---:JI .ft JA
the same value as recorded in the last ~I~ _p..i ~~\:JI 4 ~ The Board of Directors shall discuss all ~ ..s--i o).l)'I ~ J,1~J
approved balance sheet. . .U_,..:.J.J;,~ questions on the agenda in connection J1W ._,..-.JI J ~ 4-;.. ,.;--JI J:.t.......11
with managing the Company's business ~ ~J . .4.S~I ,:;_,;.!. o.J1.lJ.i
Article (18) : : (IA) oJWI and shall, particularly, decide on each JS~~L.;.~~)~1
All the Company's communications ~ l+,J,I .;l.!..J1 .U y:.)1 ..:..\A.AU .j _,s:; operation or contract of more than fifty u-.lc. ~ ~.;. .l.it...::. Ji ~
herein referred to whether among the Ji .-.LS ~I .J:! w;LS c. I J"" .li...ll 111. thousand Egyptian pounds (LE 50,000) ~(u...Ji~)o,,,,
Partners or between the Partners and the ...:..L:>lb. ~ ._).:. .4.Sy:.11 .J:!J ~ in value.
·..SY-A
Company must be made by registered -~~>"
mail. return receipt acknowledged. The Directors shall carry out the ~ 1,..~.) .J:!~l ..)c. ~J
decisions issued by the Board of o).l'jl ~ .JA •.;JL.....11 ...::.il).;ill
Chapter IV &1.)1 yl,JI Directors and shall follow the Y.IJ ...;1.ll-..:..J!J ...;~I~ .)J
The General Meeting t.w1~ instructions and directions thereof, I_,...__.)i J ~ J .j--.-e I _,_J.fa
Article (19): :(1~)0Jt.. otherwise. they are dismissed and be . .U_,..:.J.J...:..t..:..,i~
The General Meeting represents all the .-.LS~I ~ .....WI ~I~ liable to compensate the Company.
Partners and may be convened only in ....... ~.i.. .s9 Y) l.A.lti..;) j~ yJ
........... city. Article (16)°: : (1 i) eJW
The Directors are entitled to an annual IS''L..:..I · ; 1.. · ..•. n
<. 11 ~..Jt-
. . ..s _,.,.... <:'""" ..,J ._,_.
A rt ic I e (20): : (Y •) oJW total remuneration in such amount and L.......WI ~I.~ •li~ ~
Each Paciner_no_mattecho.w..maey..sh1au:S-..t...-:1.M~-:T.J.......;~~....._,~.,..·~>J---t:----.ua~a~eterm·tned~ythe'Ordi~~-~~"T~~n--
he\she owns has the right to attend in ~I ~I .lJc. ,:,1.5 ~ .....WI General Meeting on an annual basis and ..:..li.,y.-.JI '-:-'l-.i ~J ~ Jl.,w
person or by proxy the General Meeting ~_):. ~ uiL...S "'J"" ~ such remuneration must be entered into the . .t.WI
and is entitled to a number of votes _;--;;.i 4~ ~ll) <Y.~ Ji "Jt......'}1 general expenses account.
equivalent to the shares he\she owns or .l~ 4_,..:. ~J ~I~~
represents without limitation. JI~ L. ~ .fo ..:..1_,....'}1 0.t The Directors are also entitled to a share in
. ~0.t.l~U.e~ dividends as set forth under Article (31)
hereof, and the sums of such dividends
Article· (21) : : ( YI ) o JI... shall be distributed to Directors in the way
Subject to Article (286) of the executive ~ ~.J .....WI ~I U"i...>:! as they may mutually agree upon.
regulations of law No 159of1981, the _;-..Jl ~I ~)I ~J o)J'/I
 The General Meeting shall be convened, .H.fotW~\11 ~ ~J General Meeting must be presided over ._>--ij ,) u--1:- .;.,I _,__.....)u lj)j .J
particularly. to hear the Directors' report Li. jS .»J 4-S~I .bl..!.; d- U:!y,.l..11 by the Chairman of the Board of at.__..ly e:'" ~ .i...WI ~I
on the Company's activity and financial u--1:- ?' J>-1!1 .l.ic. tY.~IJ .)WI Directors who appoints a secretary and a ~I~( YA"\) aJWI <4~1
status: approve, when necessary, the _;L.....;.JIJc_'-uYI yt....o..J ~l~I vote counter provided that such • ''\A' ~ 'O'\ w.Joil..i.ll .4J\JiiJJI
balance sheet and profit\loss account; tj_,___:; ~' c.4.;YI ~ .l:!.i..:..:i.J appointment must be approved by the
determine the dividends to be distributed ..J.-:!y,.l..11 ~J ~t.S~I ~ General Meeting.
to Partners; appoint the Directors and 0--- 4-Jj ~ .J ?+'Lili... .l,!.i..:..:i.J
determine their remunerations; and c..><>L...w:.:i.:>.! ~~.iJ 'i ~I Jjl.....JI Article (22) : : ( TT ) o.11...
consider such other matters as may fall . "-:-iWI y,i:- .i...WI ~I Invitations for the General Meetings ..:..~I ..!~ o_J-C.i.ll ~_;,
outside the terms of reference of the must be sent by registered letters, return 4-:!Jc. c.r- _,... -:..4\.b. ~ .J""I .i...WI
extra-ordinary General Meetings. receipt acknowledged, to each Partner LA.ll.i..i) .ic. _,... J,ii'4!Y: ~ J..y
The resolutions of the ordinary General 4.__.WI ~I .:ii).) ufo 'i J fifteen days at least prior to the date of . Ji)'I .)c L.'-' fa.~
Meeting are valid only if approved by an ..::....!~ lj) 'i) _. ,J, 0
~.lWI holding the General Meeting .
affirmative majority vote representing 0-4 _;.sl ,;....:; ~I ..:..1_,_y1 .i.#-4 Invitation letters must contain the o~.l!I ~Lb.~ wl ~.J
more than the capital majority at least. . JSYI .)c JWI U"i..! .1.#-i Meeting's agenda, time and place. uL...S...J JL.c.y1 J~ 0~ ~
If the quorum of the first Meeting is not yL.....-:.ll _r-il;. ~ ~L:.. ~ J . .UL.j.J t4)'1
ful Iilied, the second General Meeting is .WC~ JJYI t4)'1 ~
convened within the subsequent' thirty ~I ~ ~i:.JI .i...WI ~I Article (23) : : ( yr ) oJl..
The General Meeting may deliberate only ~ JJl,ljj ,) .i...WI ~ jYH 'i
days. and is valid no matter how many
u-iLII ~~! ~.J · ~tall L.>.! on matters listed on the agenda included in J~ ~ o.l)_,_11 JjL....JI y,t.
shares are represented therein. The
~I~ uli l..t.o ~ the invitation letter. The General Meeting, o~.l!I yL....h;. ~~I JL.cYI
resolutions are issued at least by an
.;.,l)__,.....ill y.......-J.J • ~ ~1 however, may deliberate on any serious ' ' · '
affirmative majority vote of the present l· I • "-'.J1.u.11 ~ ~ wfa .ill:i· f::AJ
~~11 ..:.I>--> .l.l.-J:. "'#-4
and represented members and in case of matters revealed during the Meeting. The ~LUI~ ~I •~I ~li_,11 ~
• J-J'\'I u--1:- ufo....Jl.J i.J:!faL:...ll resolutions adopted by the General
equal vote, the Chairman has a casting , , y-lll .:..1.;1.;-iJ1 .u_,_s:..J t 4 '>'
..,.U'-4-11 ~Y- LS.JUI ~L:.. ~.J Meeting in accordance with the
vote. .l....iiJ ~ .i...WI ~I t.y.-:;
. ~.)I ..u. c.S:.i.JI Company's Articles of Incorporation arc
~-ts ....... ~ ·1
-------.....;;iT~J
... 1e-invitationo-the-first-meetin--~~~.l!li..,.,~·
C> ••• ay~cr-:
"'""" ""'""'-:."'1'6'1"1-j113
...=-;:;o."~-~.---f'---t>indin_,,11
0
e ~
aH Partrrernro--atter-"''..,..f""""'°"r.-,;;;;;;;;1
· n11c1 II\> 111
i.;.~=:::...c;~:..;:::...:::..;::::..i::::_
i.J ._>-II ~ ~l:J ~WI ~ _,__
fix a date for the second meeting if no u-ii:.ll t~)'I .ic._,... J.JYI t4)'1 they are absent, or have different opinions,
quorum is not fulfilled. . ~I JWSI r.ic. ~L:.. u-i or arc legally incompetent. · ~\ti ~J

Article (25) : : ( ,, o ) oJL...11 Article (24) : : ( Tt )U.JI

An extra-ordinary General Meeting may ~-:,ii "-:-iWI y,t. .i...WI ~ The ordinary General Meeting shall be l.l..... J$ ~WI l...WI ~I ~
amend the Company's Articles of a.lL...i_ji ..u. JW L. l.ic. ~~I .lie. convened on an annual basis at the ~~I e)J) V-- e~J > .~
Incorporation but does not have the right ~I_,... ,:fa rJ L. ., ti ~I .;.,L.1.JJ) invitation of the Company's Board ~I l.,i\+i JAi IJ".ll....ll ~I ~
to increase the Partners' obligations ~I
except with unanimous agreement. The ~l.J""I .:,,~
WI).) ufo 'i.J· ~4)
lj) 'J)-" ,)> n
during the sixth month following the end
of the Company's fiscal year.
.~~~I
l
resolutions of the General Meeting are t L...). ~ •y··w1 .ts·_,... .. 11 ~I
..
 question is referred to the General
Meeting and the resolution of the General
Meeting is binding.
Article (28) :
The deliberations and resolutions of the
General Meeting must be recorded in
minutes entered into a special Register
with numbered pages. The Register must
be signed by the Chairman of the General
Meeting, the Secretary, the Vote Counter,
and the Auditor. Copies or extracts of the
minutes must also be endorsed by the
Chairman of the General Meeting.
Chapter(V)
Company's Fiscal year, Inventory,
Closing Accounts, Reserves, and
Distribution of Dividends
Article (29) :
The Company's fiscal year is twelve (12)
calendar months commencing from the
first day of January and ending on the
last day of December of each year. The
first fiscal year of the Company,
-------t1rowever;-cmmrrences-from-thrlate at
valid only if approved at least by a . ( ,JJ-4..;1 ._..le. ) JWt LJ"I.;
majority possessing three quarters of the
capital.
If the resolution, however, concerns the J..J---A.! ~ J;ill ,,:,,ts 1:i! .ul u-1c
: ( Y 11 ) oJWI
dismissal of a Director, the majority ~~~'110!.iu.i~1 Al
4..........WI ~\ w'i Jl.L.A uJ.)_,:j votes are counted after excluding the ..,H.lA.11 ~~I ~I .l~)
~ ~ .l,!L> ~~ .,.i ~1).)J
~ e::'~J ..,.6.i..,..,. ~ _,9.)A (..)""It:..
shares representing the Director to be ) .,.>-ill uL...S
lj) .J • ~ jc C ft.JI
dismissed. If the resolution affects the 0--A Lli J~ U"t.-14 ~
j.;UJ __,__..JI ~IJ ~I ~.; rights of a class of shareholders, it must ~ .bfo .y{j ~I ...,..t........l
~.J w4~1 ._,.ilyJ wl _,.....y1 be approved by a numerical majority of ~I ~)71 .;_,...;...~I .;a
_,I .;_,_..- u--k ~1 ~.; the shareholders representing three 0.,r...,i~1~1~...,..t........'1
. ~b..JI 01' wt.;.._;.;,:...... quarters of the value of such shares. -~t4)~
Article (26) : : ( "' ) iiJL.11
The Directors may, when necessary, call L...WI ~I o_,c..i <)J..),!.l-Jl j~
~WI for an extra-ordinary General Meeting. ~.) L.JS .._s.l~ _»-i;. .iU,U'J
~ ' J..,+JI ' '..sy!.ll li....
. .!lJj ..,l! •.)Jy.:..11
, ~'11 cJL.J1 LJMI.; , cr~
c.4)il ~ A General Meeting may also be convened
~~~WI ~I .r~ui j~J
upon the request of one or more Partners .;LSI ~ fol JI 4~ yll. ~
: ( Y., ) oJW\ representing more than five per cent (5%) .!lJj yil. lj) JWI u-1.; ..)e %0 0--
1~ ~ ~! ~~ 9w1 4...;..JI of the Company's capital provided that
~ ~_,.. y~ <J.i~I 0-- I'
~ u+WJ Y.~ J} u.- I~ .. ~ such request is submitted to the Directors
f'H ,) 0JJ f'~I ~W u..:..&;)J
ui u--k -ti......... JS o- ~.) y;..i by a registered letter, return receipt
~.JH. o_,c..l.11 ~Jli 0J~I
u.- I~ ~I •.ull ~ ..)JYI 4...;..JI requested, and that the Directors fail
~~I '~~ Jl,..c.)71 J~
._.-----:;,,. ~l+l]I ~y!JI ~l:i t:;).: . within eight days to call for the meeting.
~~~~'---..---:i:he-agenda-0k-he-Meettng;s-ta'fd=doWllb"·,.
!-· __;__;~~.::;.:::...;;;;;;;of;i~-----11--

which the final Articles of Incorporation . ~I.~ y1c ~~ ~ JJi .. the requesting Partner(s)."
are executed and ends on the last day of Article (27) : :(YV)i.L
December of the subsequent year. The During the General Meeting, each ~WI ~I .l\j,u) ~w.l ~ jSl
first General Meeting is held following Partner has the right to discuss the J~ .,_i i.l) _,JI Jjt......ll .USU. .j.:>.
the end of the said fiscal year. matters on the agenda and the Directors 0--,!-o jl.. ..;_,.)--:!.l-.11 ufa.J jL.c 'y I
shall answer the Partners' questions in- ~ ~tsy!JI ~I ..)c ~l;..'/4
Article (30) : : ( Y' • ) oJWI
so-far as the Company's interests are not A.S_,_.!JI ~ ~~ 'i ..;:ill
The Company's Directors shall, for each ~ ~ I~ ul ~y!JI .._sy,.i.. ..)c harmed. ·..)~
fiscal year at such time as to allow the ~ ~ ~ .JA .,.i 9L. tj...
General Meeting to be convened within a (~)1~L...W1~1 If a Partner deems the answer to his\her ~ .l.)1 .:ii ~l.S_;.:.11 ~i ..;i.; 1:iµ
question unsatisfactory, the matter in .4 1· "'?' 11 ..)) Jb:i ~ts y,t. ~I;...
 the employees' percentage part is not ~ j,!L.WI ~ ~ 'i ~
less than I 0% of the distributed profits ~j_,.JI c~)il .,>-o %\ • maximum of six (6) months from the ~~! ~Jl:i 0-- foYI ~ ~i
or more than the amount of the total t~ ..,--le. ~Y- 'ii .l.._A_, date of the end of the preceding fiscal yl....:.. J J _»ll WUJ A.S~I ~I Y,..
annual wages of the Company's ·A.SA ~WI ~_,l...11 Jp..YI year, prepare a balance sheet, an .l..L..!..i wc l..>.1.faJ yl..All_, e,4JYI
employees. If the profits of a given year c~) ~ ~ lj) ..ul ..,le. inventory list, a profit\loss account. and a LAjS .»J 9WI .i.l.JI J::i..;. .i..S~I
fail to cover such dividend, the said ~I iJ--o ~~ A.S~I report on the Company's activity during . t+:ilj .i.l.JI !"I.A ~ i)WI
dividend may not be recuperated from j..J--'H :::LJ ~I.~ ~j_jJ./ the said year and the Company's
the profits of the subsequent years. ~IC~) t>- l+! ~Lb.JI financial position at the end thereof.
.~I The balance sheet must upon the lapse of L.~ \ 0 .. w.&;) A/ ~I j:.-11 t .l,;;J
fifteen ( 15) days from the date of its J.?..-...JI ...,..._:fu ~JI.le.) ~Jl:i.,:,...
3- After the above-said deductions, an (%'·)~L.A!~-r preparation be deposited at the ~ ul wL...:. lS j JS.I J cs J4:JI
amount up to ten per cent (10%) of the . . c u.J YI V"·
L.i.:WI .~<'j I ..r-I~
J"" Commercial Register Office and any . ~ ~ t)..b)'I
remaining profits is distributed as . 01y,.l.JI •litS..J person concerned may have an access
remuneration to the Directors. thereto at such office.
Each Partner may during the fifteen-day ~I~.&~ JS.I j,YHJ
4- The then remaining profits are either .l.......L! cLuYI .,:,... u-i411 tj~ - t
period before the date of convening the ~I .lli...i) cJ.!..U ._.:JI L.~ fa
distributed as an additional dividend to ) ~L.....JI_, .,t.S~I ~ .!lli
the Partners and employees (within the ....-J •J_;i..JI ~I J .l_,.All ~
General Meeting have an access to such .U-...1~ _,i ~ F.) -'....WI
papers by himself or by way of delegation CJ..-A _,I .. \S~I ~ .,:,... • J~ cJ..Ss
limits and percentage shares provided .,._i~W.) ~( o.lWI .~
of another Partner or any other person. . iJIJ_,y1 .~ ..,le. rJ'_y,i:..
for under this article) or carried forward ~ .. ~ J:.y, _,I c.4JYI
to the subsequent year, as may be ~I ~) 0--:!y,.l.JI CI fa! Article (31) : : ( T' \ ) t.ll..o
suggested by the Directors, or set aside .).~! "---! ufo JI ~1 After deducting all the general expenses ~_,L....ll ~t..-11 A.S~I c4) tj_;;
to form a special reserve or a special ~JI.. _,I lS.ltc. ,y,t:.. and other costs, the Company's annual net ~WI ..:.l.i_,,.,.......JI ~~Ai
depreciation fund. ·lS.lWI ,y,t:.. profits are distributed as follows: : ~~ L.S c.S~YI ~l.S:ill_,
The Partners shall bear the losses, if - ~-' J - yL....o...11 L.....I - I-An amount equivalent to five per cent o/oo 1..S}~ C;--4o tU:.:ii!- 1 I~.'
any, on pro-rata basis but no Partner is ,..............~ .. t.S~I~ (5%) at least of the profits is deducted ~fol cL....uYI u.- JI-YI~
ia e cee t e • L... .Al · ·I w~ at first to fi s_e · ·
amount of his\her shares. be deducted when the reserve reaches at I _>W .).~)'I t ~ ~
least a total of twenty percent (20%) of u-- J.._s"j1 ..,le. % Y • .s}~
Article (32) : the Company's issued capital. Where .).\.:h)'I Ji~-', JWI LJ"IJ
The reserves are used by a decision of the the reserve falls below the said ~! o.l_,..._.JI ~ .A_!j wc
Directors to the best interest of the percentage, the deduction of the said ·t IJ.JJ')'I
Company. amount is resumed.
2- An amount equivalent to 5% ofthe
Article (33) : :(1"1") o.it...ll capital at least is, then, deducted to be I
Dividends are paid to the Partners at such .. t.S~I i)I e,4JYI ~ tUi distributed as a first dividend to the ~
place and time as may be determined by L......u..,i _,--'ill J,!C-1_,.JI_, wli.JI ~ Partners and employees provided that
 the Directors. The Directors may
Where a Partner desires to file such t Ij.i e;i.J .l:!Y. 4Y:, JS i)c ~-'
distribute an amount of the dividends of
,) 0--:1~ j>-+U • t.:.u~I
lawsuit, he\she shall so notify the other 0--;1y,l.JI ~ ,) ~I 111. 0A ~ J.,..:.I 0-' ~ tlJfo. 1_,..fa.
the current year if the allocated and c4.J"ll u.i\$ l.i) ~.J4JI WI c4)
Partners by registered mail, return receipt .ll..i...l) J,ii ~ ....,->" Yl.k>.i ~
current dividends so permit.
acknowledged, one month at least prior .l-a.l_, ~~WI ~WI ~I . ~ C-......U "-:l.J4JI_, ~I
to the date of the General Meeting and 0--;1y,l.JI ~ ~-' Ji"JI i)c
Auditor and Counsel ..:..1.,iL-11 ~I.>'" c)
the Directors shall include such proposal JL,.c.l J~ ~ c:lfa)'I 111. c;:l.J-l!
in the General Meeting's agenda. .~I (.,.i.,,..Ull .;w....-iiJ

If the General Meeting rejects such '.::A.i clfa)'I I~ ~I ..::.......:.i.J lj!J Article (34) :
:(rt) oJt..
proposal, no Partner may resubmit it in ~!-! ~.). i.l\.c.) 4'Y.:. .s"l j~ The Company shall appoint, by a _;.si _,i ..::..i.,.~ -,.iii ..)A 4.Sy.:.JJ ufa.
his\her name but if the proposal is ~I~ J,ii lj) L.i, ~I resolution of the General Meeting, an o.J..r-i.JI ..l:._,.>---!JI ~ .)1 _,::.:; U.....
accepted the General Meeting shall _,I Li~ l.S>--" ..lll •Y,:.4J ~WI auditor(s) qualified under the Accounting
~ ~6.....11 ~ ~_,1.>- 0_,.;~
appoint one or more representative(s) to ~ r+--:!11 ~.;. ,) ~-' _;.si Profession Practice Act. The auditors
. ~Wi ~-' -L....WI ~I
proceed with the lawsuit and all official . ~)I wu::Ac 'JI (auditors') fees are determined by the
General Meeting. By way of exception, the
u~ ).JI 0;!C • r.li:i L... ., l.W...)_,
summons must be addressed to such
representative( s). incorporators appointed Mr .. .. .. .. . ... .. .. . . .. . .. .. .. .. . .. . I :ii:~...:''] I
of as the first Auditor of the ~-' ~y!JI ..::,,4~ J_,l l.,iil..)A
Company. The Auditor, as an agent of all •..i) _,_JI ..::.iwl:,JI ~ J- ..,..ii _;o.11
Chapter (VII) ~ #
Dissolution and Liquidation ~J ~y!JI ~ the Partners, is accountable for the t~ J- )YS s ...a.... Y. •y,..fo ..,j
correctness of the data in his report. .l.....ic "L...Ui .!!;..)-----.!. JS)_, ., isy!JI
Article (36): :(ri) oJt.. During the General Meeting, each Partner .>-!fa .fa~ ..) -L.......WI ~I
In case of the expiration or earlier L_lh ~ _,l 4.Sy!JI •.i.. .. ~) ..l:lc has the right to discuss the Auditor's report -~ .l.JJ L.c ~~ j_, -,...il_;o.11
termination of the Company's term, the ~' ~I ~"JI J......,.i 4h and ask for any explanations about the
General Meeting shall upon the request of y...JJ.. ~ .. ~ ~WI ~I contents thereof.
Directors indicate the method of ~-'~I ~Y.. ~y,.i....11
liquidation, appoint one or more ~_, ~ •~ _,I .....L...-.. The lncorporators appointed Mr. . [s: }-;1 01C
liquidators, and determine their powers. 0---'..J:!..l.oll .u.L.... ~-'. i>+ilhl.... as the Company's counsel in accordance ~ l4b 4.Sy.:.Jl 0 _,......).JI
4-i_,.;li I).~ ....
~~~~~~.....JT!h~e_!a~ut~h~onri!Y....!o~fLJtnh~e~D~ir~e~ct~o~rs§.£Jce~a~se~sLlu~.~L....-'-..."'!!"'~~-u..i.-t.J-c):!i.....11-oi~,........~~t-~~~~-~~·cJe..{.-00)-et"-l,ega~efes-sion-A~~ov-~"!r.'r:-
the appointment of liquidators but the ~1 i.i.. JI_,.\. Wu~ ~WI No 17of1983. ;.r ~
General Meeting continues to enjoy its .~I •¥ .. ~.I ~ i)I
authority during the liquidation period 01
until the liquidators are discharged. Chapter (VI)
Disputes
Chapter (VIII) v.uii ~ Article (35) : :(ro) u ...
Final Provisions ~,.11a.1 No lawsuit affecting the common ~ ~I wlc. jl.WI e}.J j~ 'i
interests of Partners may be filed against ~4.S~l_,~WI ~I
Article (37) : :(rv) iJL.. any or all Directors at the courts of law e--!-1 YI i-6.a.l ~
The provisions of the law on joint-stock t...t....JI ..:..tSy.:. u_,.;\.i r~I ,,;~ _,I ~~
except only in the name of all Partners U- J->9 ~-' .. lSy!JI t_,._.
companies, partnerships limited by ..:ASy.:.ll_, ~"J4 ~_,;JI ..:ASY,:._, and by a resolution of a General Meeting. .~Wl~I
 Joint-stock Company ~~I~~: UJl:i shares. and limited liability companies
herein referred to and the executive
regulations thereof apply to these Articles
4.;l,jJ\ ~.;~IJ J~)'I y,jJ .;\) - I
of Incorporation unless otherwise
• •
'-,!~..._... L......'-.s • \.::...
.J""~.~J"'U.
. ~11 ·W...
specifically provided herein.
1- Decision of the Minister of Economy and Foreign Trade
Authorizing the Incorporation Article (38) : :(1"A) i.1L..
of an Egyptian Joint-stock Company This Agreement shall be recorded in the ..s .;~I J,;......_.JI ~ .li&ll I~ ~
Commercial Register and shall be u.:.._,_J .l.._.._.j J . .:;_,;Lill li,.l. ~J
The Minister of Economy and Foreign published in accordance with the law. ' .;:it.___....y1 .. LS_r-:JI
Trade, The Partners authorized Mr , 0.!--y.ll J!$fi ' .,..;_,;\ill ..,....~1
a chartered accountant, to act as an agent ~ "-..j)UI ...:...1.,1_.»)'1 ~ jW! ~
Having taken cognizance of the for the Incorporators and to take all the uL.fu!IJ ...:...t.i_,~IJ, wl.:.11 I~
constitution; necessary procedures in this connection. ~ l+ili.i! fi:! ~I U:)l.S:JIJ .JF.-YIJ
The expenses, costs, fees, and charges 0---~·~~l~b~
The Code of Trade; applied for the purpose of forming the . "-..WI ut.iJ~I ~~
Company are deducted from the general
Law No. 159 of I 981 promulgating the ' '\ A ' <l..L...J ' o '\ ~ .J ..)ylill ~ J expense account.
law on joint-stock companies, wL......11 ...:.LS~ ..)yU )~~
partnerships limited by shares, and ulSy!JIJ ~Y4 ~;JI .:iLSY:,J
limited liability companies and the ~'1 J o.l J~I "-:] y......11 -:..1:i
executive regulations thereof; !~~I

Law No. 230/1989 promulgating the \'\A'\ ~ H • t9.; .jylill ~J

Investment Law and the executive ~'lJ .;~'11 .JyU )~~
regulations thereof as amended; ,~..l.a:iJ~~I

President1al-Uecree No 380 ofl91

forming the cabinet;

Prime Minister's decision No. (I) of .,1.;j~I ~ ~.J )_) u-1:. J

I 990 issuing model preliminary articles .l........i..lic:i~ \'\'\. A..l..J(') t9.J
of incorporation and by-laws for joint- cs-'"L...'}l l"L....1.:JIJ ~1~'11
stock companies created as inland ~ ~ ~_;.]I wl.c. JyLl)
projects for domestic investment in .;~)'I l"~wL..... ...:...tSy:.
accordance with the provisions of .JWJ..........'11 .:;_,;U !"'&..Y \.46 ._);.bll
lnvestment Law No. 230 of 1989; and ! ' '\A'\ A..l..J n· . t9.J
 The memorandum of the Chairman of the ..S ~I jlr.-JI ,A.) 0 pi.. .)c _,

'
!
. '-:!.;ill .)) s ~ J~I \ .JL.'.U...)U~WI~
mates to and from the village. Executive Board of the General
. .).!l.Wl .:.;~) wl.l:i.._, -
• Staff housing . ~ ..:JL..~ wl.l:i.. _, -
Authority for Investment,
• Health service units
. ~I w y.oll ~I..... o.b. J -
• Sewage treatment plant. DECIDED AS FOLLOWS
• A suitable source of tap water.
. '-:-' y!Jl ·4--1 cl'-- .).l..AA -

Article (1): : i.)}J\ oJWl

: ~1 oJL.JI
Article (3) : There is hereby established the Hurghada ...SJ.)--!J' ~.;---.:. ~~ ~....,,;...>!
The Company is not granted hereby any ..s\ ~~_>JI 1~ .)c. .._,;,fa.'J
Oberoi Company, an Egyptian joint-stock ~~-'....AL........ ~y!.- ~Jy.ll
. ~ y!.11 jt;i..) _,i .)\S:U.)
monopoly or franchise as a result of this company created as an inland project for i'~"J ~ ~1.i.ll .JL.'.U...'fl i'~
authorization. domestic investment in accordance with .li..JI J \ ~A~ ~ 'I' I" • ~.) .jylill
Law No 230 of 1989. and the attached JL...-...iy, j}i.!I yJI ..r"'L...'y I i'L.hlll J
Article (4): : ~1)1 o.il.t.11 articles of incorporation and by-laws. .;,.jLA......;. J Li~ .jJ~ J .jltil •.).ll
This decision shall be published in the .~-:!~1 ~u_,Jl ~)_;ill 1~ ~ The Company's capital is twenty-two t--4-- ~ J.l...,! ...s~ ~ Wll
Official Gazette. million, five hundred thousand Egyptian ~_,....:.w.........._,~'J..,.~
pounds (LE.22.500,000) of which five ~4...s~~Wll .:.;_,~_,
Issued on 19th June, 1994 million, six hundred and twenty-five L ....;-- ·--'I~ .)~1-'u....i . ;I: ...J •..)-""'
C'"'" ·-'1
thousand Egyptian pounds (LE . O/oAV,o
:/~'II Y,j.J
The Minister of Economy 5.625.000) are paid in free currency. The
~.)WI o.J~IJ
and Foreign Trade Egyptian share percentage is 87.5 %.

Article (2) : : ~WI o .il.t.11

Object: : A..sy.!.ll ~ _j;.
The Company's object is to establish a ~ ..s~ ~4'-- '-:!.) ~\..!)
5-star tourist village consisting of: : u-1c j..U.!.:i ' i' ~

------------------------------------!---- - One.hundr.ed cabins,,,each_a!.one..do,_...u.,.bl

...
e- .......;e..,u1.lj.t o.i;..L_,.1..\~".,ll:l"\,...;.i..:~:1.1:·L~ 1..;;-;...._ _
room.

- Supplementary facilities including:

• Restaurants, bar, and discotheque. ·'4!:i~J .J4J ~.fa\5_, ~u... -

• Swimming pools and a school for . ~ ~.;.i._, ~4-ui ..:..t..~ -
teaching diving .
• Sports playgrounds. . ~~.)~)l..-

• Meeting rooms and a library. . ~-' -:..~41 ..:..'it.- -

• A shopping center (shops). .( '-:!)·~ ~) 13.)~ .fiy -
• Coaches for transporting hotel .. 'Jj....-j ..:..~ ~4'-- w\....:-!jii -
 has by decision No. 191/235/93 of \'I '\'I' -..L......J '1 »t=t: 'I\ ~.J ~ Wl...w ~y!. ~l; Ji!;. -T
711 Oil 992 approved the Project in \'l'\'I'/\ ·/Y ~.)~ yL-.......JI Articles of Incorporation
accordance with the following terms and ;. oj., tJy!...11 ~ .tiil_,....]4 of an Egyptian Joint-stock Company
conditions: : ¥'JI ..bJy!JI
Hurghada Oberoi Company '-lJ_..iJJ r.S.JY..JI ~~
I) Project's Name :Hurghada Oberoi Draft Preliminary
(u-il~~I ~y!.11 ~ t.Jy!...)
Articles of Incorporation
2) Project's Object: : ~y!JI c,.JAj;.
The Company's object is to establish a L......u c.S~ ~4-- '"-:!.) ~U) Made on this J'" day of March. 1993 1 'I 'Ir /r /r r Y. ~ -ol
5-star tourist village consisting of: :~ ~ • r~ By and Between the undersigned : :ol.i.ii~_,...JI~~

- One hundred cabins, each of one double 1- The Egyptian Company fo~ Tourism "'----:!y......Jl ~t.,...Jl ~ ~ y! - \
room. Development with its principal office of t.JL.....:. I· ~)I lA.fiyJ
business at I 0 Talaat Harb street, Cairo -S.l.......:..)} 0.J"Lill I Y.J"' ..:....lb
- Supplementary facilities including: ( an affiliate of the Egyptian Bank for ~ c.S~ .1411 wtSY:,
Exports Development ) herein I ·~I ~J (..:..ilyL..,.,JI
• Restaurants, bar, and discotheque. .~fi..:!.iJ .J4J 4.Ji>ltSJ <"'Lh.. - represented by Mrs. Salwa Hassan Badr • .)~ ~.ill .)~ ~ ...s ,i...
• Swimming pools and a school for . ~ -'.......;.lAJ ~4"" <.:1L.~ - El-Din Mansour, the Chair of the Board .• _;l.i')'l ~ ~.)
teaching diving. of Directors.
• Sports playgrounds. · ~4.J '-:-"'-)L. - ( First Party - Egyptian )
• Meeting rooms and a library. . ~J -:il.t:.~I •.:.l'il...:. -
• A shopping center (shops). .( '"-:1.J~ ~) c.S.J~ jSy - 2- Oberoi - Hong Kong Company ~_,s ~~ - l.SJY.Ji ~y:. -Y
• Coaches for transporting hotel o.'lj........:. ..:..il...l;J ~~ ..:..i~_,:;i - governed by Hong Kong Law with its - ~_,s ~-"' 0_,.;W ~WI
mates to and from the village. . '"-:!_,ill ~.IJ u.- J.l..iill head office at the. Prince Building, g1h /..J:---AYI u-'!-- ~)1 lA..fiyJ
• Staff housing . ~WI 0tS....! ..:..il~J - floor. Hong Kong. .(~_,s ~~) u.-~1 _;~I·
• Health service units . ~ ..:..~ ..:..il~J - (Second Party - non-Egyptian) (~i - 1.Jl~ u.)..)
~~~~~~--.-eeiwage-tr~aknen~lan~.~~~~~~-.... ~~~;~~~~~-&--~~~~~~~- ~;.____;~.;....~~~~~~~~
• A suitable source of tap water. . yy!JI •4-J ~ y.-.. - 3- The Egyptian Bank for Exports . ..:..ilyl..-11 ~ c.S.r.....ll ~I -r
Development.
3) Location : : ~~ -T'
Parcel No. 21 south Magawish, Red Sea
...... . , c n
. >---"?- .,r-..)A
I e-J.)
. , , .,,
-.....:.&J PREAMBLE
province on a tract of land of 160 ~YI ~I -U.ih... - c..fou~
thousand square meters in area. <....&II ',. ~t...... (fa>) ~ ~ The Egyptian Company for Tourism ~~ 0----- ~I ylhll ~ ~l.1!
. t;!JA fa Development has in its capacity as a ~ ' "----:!y......11 ~t.,...Jl ~
representative of the Incorporators filed ! ~_;.JI WC ~J
4) Legal Form: : y-i_,.;Wl ~I -f an application.
An Egyptian joint-stock company. ·'"-:!->'-""" .t..L..... .u~
The General Authority for Investment .Jw.............y ~WI ~I)_) ~J
 5) Capital and Incorporators: : ~_;...II 04-u JWI J"j .J - c

: tJµ1 o.l.4 -A
The Capital of the project is twenty-two j.J:!l.. r 'I' ,o tJµ1 jt.. u-i _) ~
8) Term:
t..ll:. jJ~J~ million, five hundred thousand Egyptian J:JL....yl..~:J.i....:' ..s~~
Twenty-five years.
pounds (LE 22,500,000) of which ~4..s~~o.iro, .••
wl' •• 11J w'i'il . :.i_,_s.:;.) -'\ an amount equivalent to five million, six ~ JWI J"i...>(JJH, ~'ii
9) The Project's machinery, equipment,
hundred and twenty five thousand : .)t.ll ~I _)c , ~j..JI
and necessary materials must be in t J~ ;;,_.j)Lll ...:..,t..
y::......JI J
. ~.l=...11 ~1...:...1_)_,hlllJ...:iii.. Egyptian pounds (LE 5,625,000) is paid
conformity with the latest technical
in foreign currency. The capital is
development
distributed among the lncorporators as
.b J~4 t J.J-·•WI <" _;.!; j - follows:
I 0) The Project must comply with the I •
conditions and specifications decided uL..!. .) o .J_j..JI wt.i.AI ,..JI J
Name ................................... : r---"''i I
i 11 respect of pollution prevention and ._,-le ~G...JIJ w _,.t.ll ~
Nationality: , . ................................... :~I
environment preservation. .~I
Foreign .. .. :~i
11) The Project must comply with the ~l_,..;:.J .bJ~ <"ljl.-1)'1 -\ \ Local . ................................... :~
conditions and controls decided by the . .ht.,...JI •)jJ Total .. .. : .)4)
Ministry of Tourism.
6) Investment Costs : : ~)~'/I --¥1.S::Jl -1
12) The names. exact capital .J:!.4A L__.....JI • t............i ..l........:!~ - ' 'I' The investments costs are estimated at ;
~ I .. , ~__)L.U._..,'i. I .....iJL..S::Jl _) .liJ.
contributions, and the currency of ..l.;!~L....., ~J ~_y.'il 42.5 million Egyptian pounds of which ~ ' c.S .)---A-" ~ j.J:!l.. f y • 0
payment of other shareholders must be JWI u-i .J .) •I..!yl ;.L.c. I :is. J 510 thousand Egyptian pounds are paid •~'ii .u...J4 t!..l> ~
Uli e v •
revealed before the ministerial ..s)j~I )_J--ill .JJ.l..J:> JJ in foreign currency as follows : :..).! W WJ
decision authorizing the incorporation . ~l:J4~~1
of the Company is issued. (Value is in thousands.) (~Ul)i4~1)
Description : . . : j4-1)1
13) Security· clearance must be obtained ~) ~L...:U :JJ.JJ .bA -\ i currency ................................... : .u...JI
and Arai;p1frtTrer·.:--.::.~. .l.Jh
--------i""'trr"""'esp~ttrot'forelgn .. · oa
( not named yet ) and also ofOberoi ~L.....i .ft~~ 0:1.ill) yyJIJ
Hong Kong company; and ~~ ~4 1:is.J • (.Ai : J!_,..:;JI _;.J~ -V 1
7) Sources of Financing : I
! e-' _,s ~-"' LS J...>-!Jj The project is financed as follows: ~CJ_µ ..)!_,..:;JI ~I~
: _)tJI ~I
On 6 November 1993, the General u......iil J ''\ '\i /' '/i
~..)~J

Authority for Investment approved the ~_)~;;,..w141 .. : ..:.il...+!l'

Description: ..
Project by decision No. 57 of 6/11/1993 ov ~.J )_;-.ill ).i.....a:.._..I
upon the following terms and conditions: \'\'Ii/\ -r ~...>~ _J:Jl.....JI
Currency
Total .
. .................................
...................................
: .u...JI
: .)4!
( as above-mentioned ) :9tJI .bJ~IJ r...>-'i4
.(~WI .bJ~I ~)
 Article (2) : : ~llll 0 JL..11
The Company's object is to establish a ~.) L..IJ! >-" '-.s....,.!Jl ~_j:. On 15/1/1994. the Authority approved: ~I UiilJ \ ''.'\ t/1/\ o ~.J~J
5-star tourist village consisting of: ~·('~~<.SY.,...~~ :~ L.. u-1c
=u-1c
1) That the Egyptian Bank for Exports ~i..S~l .lli,JI JP,.l -\
- One hundred cabins. each of one double Development, of Egyptian nationality. ~1._s~I wlyl......a.ll
room. enters as a new incorporator into the ~AY\'fo., 1.4.J..li~
Company with a share of LE 8,212,50; . ~ y!.}4 ~ c..>""' )AS i..S J'-"M
- Supplementary facilities including:
2- That the part of the Egyptian Company ~t,........11 ~ ~y!. ~ o.l4j -'f
• Restaurants, bar, and discotheque. -~~J .J4J 4.J:!'.iil.SJ ~Lh.. - for Tourism Development be ~Oi'fo,,, F."-:!~I
• Swim.ming pools and a school for . ~ ......_Y...J ~4--wt...~ - increased by LE 5,625,000 to become \ \ tvo ..• ~ ..S.>-----
teaching diving . LE 11,475,000; and ·i..SJ'-"'A ~
• Sports playgrounds. • ~4.J "'"""'.)l. -
• Meeting room~ and a library. . '-:i&J ..:.1.c.41 w'il...J> - 3- That the capital be re-divided among u--1c JL_..ll L>"l.J tj)Y o.ll.c.) -r
• A shopping center (shops). . ( ~.)4-:i ~ ) <.S .)4-:i .fi .» - the Incorporators as follows: : .)t.JI _p..lll u-1c ~,;.JI
• Coaches for transporting hotel ~ 'i ..>---i ..:..t...~ ~t,.... ..:.~_,:;I -
mates to and from the village. . ~_;ill.)! J l>4 J.llill Name: .. ................................... : t""'il
• Staff housing . tJ:l..Wl ..Jli...! wl.b. J - Nationality: . .. :~\
• Health service units . ~ ..:..t...~ -:..1.b.J - Currency .................................... :~\
• Sewage treatment plant. . ~lu~l~t......•.b.J- Total ................................... : .)4!
• A suitable source of tap water. . yy!JI ·~ c-JL..J> ~ -
The previous Preamble and the approval u--1c ~1_,..JIJ ~I I~ ~J
The rL...;ill -'.S~ J~J
Company may carry out other ..:.1.c. J~
of the Project by the Authority by the ~I )~oyL.....a.lltJ.;-:...JI
.J\._J.,,) ~ ~ y:. ~ JI ...s _p.i
projects or modify" its objects within the decision hereinbefore referred to are an ..)-.A lj;...:i:'i 1~ ..»
'411.a.i '41! .)L:.....11
4-l J~ t...S .J~'!' 0_,;li <"I.hi
context of the Investment Law, and may integral part of the Com an 's Articles I... I
-------so...sub~ne~A~r~ty-for
&=• ~.,cS~ J o Incorporation and By-laws.
Investment's approval either contribute (.JL;. ~.) wl.c.J~ ~·~_,II
to or participate in any manner in ~ .J u;iUl4 yl......a.ll .)~ '! 1 u;ili Article (1) : : (') oJL.o
subsidiary projects outside the scope of 4....__UI_,... .I:.~\ '\A'\ .u..J Y'1" •
The undersigned hereby agree to be u--1c .li...11 I~ u-1c
u_,.l,..11 Ji:i.1
the Investment Law No. 230 of 1989. ·.J~~Wl~I
formed into "an Egyptian joint-stock -~~ ~L......... ~y!.. ~I:.
company" authorized by the government .)'-AA~.)~ ~fo>. l.>4 ~fa.
Article (4) : : ( t) oJL.o of the Arab Republic of Egypt in J~I ~I _,ill <"lh "J li,ib 4.yJI
The Company's head office and selected ~ _,.;Llll t+.1-J ~ y!JI .fi .>' ufo
accordance with the applicable laws, the el.J .J~'/I u;ili <"LS......"J WJJ I+!
legal domicile is in the city of Cairo but ~ j~J ' t.JAUll ~ ~ provisions of Investment Law No 230 of ~I ~'iJ \'IA'\ .u..J Y'1"·
the Board of Directors may subject to the ..,_.:;tf. JI 1.c.J.) ~ ~ ui o).l'/I 1989 and the executive regulations . .li...11 I~ J:>..WI <"\.kllJ
approval of the General Authority for ->----" ~.J~ ~ ~_,:; JI thereof, and the By-laws attached hereto.
Investment establish branches, offices or ~I '".iii~ C.J~.ll ~ Jl ~yJI
I I
 agencies inside or outside the Arab
The shareholders paid twenty-five ~I J,..lS tU .:,,y,:.:&JI ts.i .iiJ Republic of Egypt.
percent of the nominal value of the ~ o1 r o ••• •.J.i.__!J ~)'I

Company's capital; viz.: five million, six ~....:,t...::i._..., ... "!.~)

J J~ Article (5) : : (") oJL..
hundred and twenty five thousand u-5 (LS~~ Ull .JJ~ J The Company's term is twenty five (25) .,. o ~ "'-S y:.11 .41 •.i~I •.l.JI
Egyptian pounds ( LE 5.625,000 ) to the wl.J.iL...JI ~ ._s~I .lli,JI
years commencing from the date the .J..S ~I 4 ~.J\..__J _y. i.l,U .u..
Egyptian Bank for Exports Development ._s~I i.Sfi_>..11 .lli,JI ._s.l! J,;......JI Company is registered in the Commercial o.L-J ~Lb) JSJ ! ...s .J~I J,......J4
registered at the Egyptian Central Bank . w4l:US)'I ~-..! ~_.>..!IJ Register. Any extension of the ~I l+,;lc. 051 jJ j ~ .J..Sy:.11
and authorized to receive subscriptions. Company's term must be approved by .,:r- ) ..>-ii .i...:wJ .JW::....~ ~WI
the General Authority for Investment and . ~I y,j,JI I
The said amount may not be withdrawn ~ ':{) ~ j~':l t4-JI Iii. ratified by a decision of the competent
I I

except by a resolution of the General t..>":.'-'"l::. .)

~_>..II ) _;ill .JJ~ minister .
Meeting after the decision authorizing . ~WI ~I L.ro ) jiu ~y:.11
the Company's incorporation is issued. Article (6) : :('l)oJL..
The Company's issued capital is twenty- F .).i....:....JI "'-Sy:.11 JL. (..>'Ii.) .l.l.:>.
Article 8: two million and five hundred thousand ..JL...,;jl) ..S'...>'-""-4 ~ .,..,. • 0 ••••••
Egyptian pounds (L.E. 22,500,000) ~ Ull ;_;~J L;~ . :.u~ J
The undersigned undertake to: ~ ~4 1~ ~ ..:i_,..!_,..JI ~ divided into 225,00 shares, of one no ... ~ (j_,... y,e.':l ...s~
• obtain the approval of the General ::;~ ·WI ::;"""*'
'. . . I I ~I ... er- I~ J.,........-.
· -- II
.r
hundred Egyptian pounds (L.E I 00. ) j,__jt...) ~' •• ~JS~~
Authority for Investment; J.>-_i!I Ji......: . . . . ... 1 IS ........(, .J~ each. (lS~~
• obtain the Ministerial Decision .J..S~I ~L.:.;).) ~.JJ4 i.S)j_,ll
authorizing the incorporation of the ~1 0--- 0.J.iL...JI ~l_,....J.l liiJ Article (7): : (Y) oJL..
Company in accordance with the wl~l_;-;i.)'I L...i~ ?"4il1J (J~ The Contributions by the undersigned 1.:i...... ~ .:;_,..!_,..JI ..:i_,.......)All ..,.WS!
. I ...... l:, ..t...:.'1 ~·."II\
approval of the project by the Genera I ~ , ~ Y" Incorporators and other shareholders to U"l.J ._,..-! C.JJY..'il u_,....L......11J ~I
Authority for Investment; and the Company's capital are distributed .,. .,. o • • • l...A.i~ ~~ -"'-Sy:.11 JL.
• take all the procedures necessary over 225,000 shares of a total amount of ~ .,. .,. o • • • • • ~ f+-"'
~~~~~~~~..JJ.1.L.......-!.l!!;!_--!.~iZ..W.imw.u.~atwiO~...........:o~
. . . .t~h~e~~~~~~~~~~~~~-tc~~~twen·t;}l-twe-mt~i99-and-ltve-hun~~J' . ...,-~~~~~~--t
1'""!"1i::~=:;t·•~
Company's incorporation. thousand Egyptian pounds (LE ~J (i.S->'-""" ~ UJi ....:,t.-....;,.J
22,500,000) as follows: : ~~I ~I ..,Jc.
For this purpose, the undersigned have /o~I ~ lfoJ J:i.....ll I~ u-9J
delegated Mrs. Salwa Hassan Badr Aldin - .)_,_........;.. 0--:1.l!I .J~ ~ ..S .,J... Name and Nationality: .. .. : ~'.Je-':ll
Mansour, the Chair of the Board of the ~-"'-S~•)..i!~LJ4..J No. of shares : .. . .. .. .. .. .. . .. .. . .. .. . .. . : r-t""' 'iI ..l~
Egyptian Company for Tourism ~ ?"L:!ill ~ "-:!y.-11 ~~I
nominal value : . . :~! I'
Development, to: ::i~I J , \.S .JL........;.:JI J,.....l4 ¥1 J
~u;.............1J, W_,.;till wl~l.>-'!'-)'I percentage share : . .. :~I If
• publish and register the Company
~.i)J, ..._.j)lll wl.l..U..........1 currency ............... : 4-! ~u_,ll f> ~I 4.1-ll I
in the Commercial Register;
• take the legal procedures; w4--;JI l.......Alji ~I ~~I
• consummate the required ..i....WI I~ ..,Jc. ~1_,.... ~j':l ~I The Egyptian percentage share is 87.5%. ~_;-.JI -"'-S.JL.....!... ~ t4JJ
. o/o AV,o·
 t.r" 1..w."1• ,.~\-!' documents; ~J • ~yJI ~y!JI f'lh; ~ _,i
~~l..w...~y.!J • make such amendments both to o)j! ~~! JjU_,ll UlS
By-laws of an Egyptian Joint-stock Company these Articles and the attached By- ~le. ~ J_,i o_,c.jJ .~y!JI
laws as may be deemed necessary by 4 ~.)L....:i 04 _,,....!. ~ j\.W::lJ
DRAFT BY-LAWS ~y!Jl c.r-L....~I i"~I E.Jy!... the competent authorities; ·l.S.Jl..;...'.JI ~I ~ ~~I
Hurghada OBEROI ( S.A.E.) ( . r . i> • u!i ) .4jJ .;.n 1-i JY.Ji • hand over all relevant documents
to the Board of Directors; and
PARTI JJ~I ~\.:JI • convene the first General Meeting
INCORPORATION OF THE ~y.!.11 ~~ c) within one month from the date the
COMPANY Company is registered in the
Commercial Register.
Article (1) : : (I) oJl..o
The Company has been established as an ~\_,ill f'~ 'J ~ A.S y!JI ~t, Article (9) : : (~) o.>L..
Egyptian joint-stock company in ~ ~.)_,......,,...) 4-! J_,_.JI The Company shall bear all expenses, .:.LJ_,___....11 ~1L-1 ~~1 ,.yr.
accordance with the laws applicable in .jyL...i ('LS,;,.'J L..ii JJ ' 4._;...ll costs, fees, and charges incurred because ,._:, _;ill w_JlS:JI s .J.P.-'JI_, wtW!I s
the Arab Republic of Egypt. the H • r9..J .jylil4 yl.....:JI ..J~'JI of its incorporation and these amounts ..tl._UJ ~~I (..)":!Wl.J ~ ltlWJ
provisions of Investment Law No. 230 of f' I.hill J .._,.iai:JI
.. ~'i J I 0, A 0, ~ are deducted from the general expense wLJ _,___..JI yL....:..0---4 ~
I 989 and the executive regulations "-""L......... A.S~ ..,JL....:;ll .s""L..'JI account. .a, WI
thereof and the following By-laws under . A! ~ o ..J_j.JI 1. Jy!.14 "-:!~
the terms and conditions set forth below. Article (10) : :( \ • ) i.>L..
Executed in twenty (20) copies in the city i_)ALill Ll:!..l.&./ .i......i..!1 1:.i........ .)~
Article (2) : : (Y) oJl..o of Cairo. the Arab Republic of Egypt on f'~ ._,.----!~_;.JI Y-AA "'-:!.J~
The Company's name is "Hurghada 1.5 J.>-!JI : _,_...i. ~_;---!JI o.l. t""I this Wednesday, the 101h day of 4J.... ut....A..J u.-1. ~1,...i1 ~~)ii
Oberoi", an Egyptian joint-stock L...u..:... "-""L......... ~_>--..!.) ~jy.l\ Ramadan, 1413 (Islamic Calendar ) I 0, vr /'i ~I _,..Jl "'-:!.»A \ f II'r
company. . ('-:!___...!I ~4 corresponding to the 3rd day of March, ..i!L..U. J._...SJ ~ .,. • 04 ~~
1993 A.D.; one copy for each party and ~l~~~'ul4J~
------~A~rt!!i£1cl~e.,t(3~)~:--:----::-:--:-:----:-;-;-:-;---,:~,..----;~:;--:-;;--;:;-=-:~(,r~•;.::.>L..:=----.r--the-remairung-c.-epies~H-briorwarded J:Fill-:J "f'"":R' -~ll'...-....'!Ml------
The Company's object is to establish a 5- ~.) ~li) JA A.S~l • .:i. ..>oY:.. to the concerned authorities in the course · <..>":!'-"l::.Jl~~yJI
star tourist village comprising the J,..J......!.:i • r.»J ~ 1.Sfo- ~~ of applying for issuing the decision
following : : >
authorizing the incorporation of the
•
I
- one hundred cabins, each of one double · ~_,J_)..a >.i.:..1J ~y:.. 9Ll ~LA - Company.
room.
- supplementary facilities including : : ~JU.S,. ....... .i..:;..- For Shareholders
I
- restaurants, bar, and discotheque. ·~_,s....,j, ..J4J 4.HlSJ t"'"u.... -
- swimming pools and a school for -~ ~ ..J.14 J ~L,i..... ..:..L.~ - Name and Nationality: . •················ :~1_,r-'i1
teaching diving Domicile: . .................. : Ls)'\~
- sports playgrounds. . ~4..J ...,_,c)L. - . : ~_,;11
Signature : .
- meeting rooms and a library. • ~J ..:..lc.~I ..:..'J~ -
.I
 - a shopping center (shops) . (~} ..;-.:; w:h..) t.L'l+i .fi.>" -
PART II c..r°WI yl.,JI - coaches for hotel mates to and from the .. 'i j.-i ..___..i.;J ~t,i..... ..:..4_,;\ -
The Company's Capital ~y!Jl JL.. L>"i.J c) village. . ~.;ill .)!J LJ.a ~.;ill
- housing units for hotel staff. .j;l..Wl .:.;l.L) wl.i.:..J -
Article (6) : : (") oJL.. - health service units. ~w~wl.i.:.._,-
The Company's issued capital is twenty- F .)~\ ~y.!JI JL.. U"i.) ..l.l:i. - treatment plant for sanitary drainage . ~1 u..r--JI ~t..... o.l:i.J -
two million and five hundred thousand .jJ~J ,:_;l.til) ~no ••••• - a suitable source of tap water . y y.!JI oy....l cJL...a .)~ -
"-1h ~\ '-.j~ \.j .. L
Egyptian pounds ( LE 22,500,000 ) ( ...s~ .. J ~

divided into 225.000 shares, of one J._..S.~~no ••• ~~ The Company may carry out other wt.:.-'~ r~I ...sy!Jl j-"1'-!J
hundred Egyptian pounds ( LE I 00 ) each, (...s~~'-.:.L..)~ , .. ~ projects or modify its objects in .JL___b) c) ~ _,;:. ~.i.:i Ji c..S ~i
all of which are of nominal value. .~)~i~ accordance with the Investment Law and 4--J j ~ L.S .JL.:;,.,,'/I ..:i.,;li rlS.:.. i
may also subject to the approval of the t.:;-a ~J <.S~ ..!l.Jl..!U _,i r"W ..:ii

Article (7) : : (V) oJL.. General Authority for Investment have an C .)~ ¥.) wt.:. Jfa .) •»_,!I
All the Company's capital shares are of ~ .L-..iJ ~) '".S y.!JI ~\ ~ interest or participate in any manner in ~ r r . ~.).).~_...'11..Jyli
nominal value and are subscribed for as ~I~ JWI J"i.J.) "-?l:IJS'/1 subsidiary enterprises not governed by ~WI ~I 4-iil _,.. ..b~ \ , A,
follows: : .)till the Investment Law No 230 of 1989. . .)w::....;:u
Name and Nationality: . .................. : ~IJ (""''ii

No. of shares: . . . . . . . . . . . . . . . . . . . : r--+'"" 'i I ..i..ic. Article (4) : : (t) oJL..

nominal value: . . : ~'!I~\ The Company's principal office and legal ~ yL.ill 4J::.... J '".S y.!JI jS .)A ufa
Percentage : . . " ..•..... : ~ ! :,11 selected domicile is in the city of Cairo ~ j~J , o_JAlill ~.)
currency: . .......... : l+! .. l.!_,ll f' .?I u....11 but the Board of Directors may subject to Ji L...L J.) l+-l ~ ..:ii 0 .)..i'/1
the approval of the General Authority for C.JL..:...11 ~ Ji ~ .) w::lfo_;,
The Egyptian percentage share is 87.5 %. ~..i .l......JJ • % AV.0 ~ ~ Investment establish branches or . .JL.:;,.,,;:u "1....WI ~I ~1 >'"!
The subscribers paid twenty-five percent ~'II ~I J..lS t}.J .. :u.~ ..JI agencies inside or outside the Arab
of the nominal value of the Company's <.S~ ~
0 H0 • • • •.J.lSJ Republic of Egypt.
share capital; viz.: five million, six ~J ~w....J ~";),.,. ~ ..b.i.9)
~~~~~~~h~u~n~d~re~dL,_Ja~n~d-:-~tw~e~n~-~fi~1v~e~~th~o~u~sa~n~d!......:~-=,=..·'i~<.S~~~~·=·~~=·~1~·~;=-~~-1r-~~~l'ff··de-~·:--~~~~~~~~~~~~~~
Egyptian pounds (LE 5,625,000) to the wlyL...:.!1 ~ <.S~1 ..!l.i.,JI .) The Company's term is twenty five (25) ~ ~ '".Sy.!JI ·~ •..i.i.:....JI >.l...11
Egyptian Bank for Exports Development <.SJ----S_;JI ~1 ...s..i...J ~1 years from the date the Company is ~ ~)- ...:. 0-- i~ ~ L.!Jy:.c.J
registered at the Egyptian Central Bank · w4\:IJS'/1 ~ ~ ~>-31J entered in the Commercial Register, and ~Lb) JSJ • ..S.J~I ~ '".Sy.!JI
and authorized to receive subscriptions. any extension of the Company's term ~ J.-.il>.! ..:ii ~ '".Sy!JI •.l..l
must be approved by the General .J~ ;...w1 ~I • ).i) ~
The said amount may not be withdrawn ~ 'i) ~ j~ 'i 111. t4--1'
Authority for Investment and ratified by a . ~I y,j_,11 LJ.a )fa ~.J
except by a resolution of the General ~\::. c) ~_;JI )_;ill .JJ~ decree of the competent minister .
Meeting and after the issuance of the . "1....WI ~l LJ.a ).ftu '".Sy!JI
decision authorizing the incorporation of
the Company.
 Article (8) : : (") oJL..
Any outstanding amounts of the share's .)L-;I ~Li_, .ll..i...JI ..,...,..1_, F. JS.J The shares or share certificates are ~I wl.l~I Ji ~YI r: y..:;...u
value falling due and are not paid at .l~I ~ o_jl.ll ft~.J ~I ~ extracted from a book with counterfoils ~J ~w ._sj .fo.l ,:y..... ~
mature date will earn an interest in favor c-JL.....J o.l'.ili ~ ~ ~ ~I and are given serial numbers. Each share .) ,_.:,= ~ ti .J:!.J ~ t...Li)
of the Company at a rate of 7 percent f'~ 0---- 4Y... %Vtil.J! ~_;.!JI certificate must be signed by two ~J. ).l)'I ~ ~L..:..c.i .jA
from the date such amounts have fallen w~_,,.:JI .)) ~\....Q'i\..i .Ulh:i...) Directors and stamped with the . ~_;.:JI ~~
due plus any compensation that may ~.Ji.JI <..>'"~ ~ .J .)c.J ...5 ft YI Company's seal.
result. in particular, from failure to pay in t-4.J ~YI u....l'-! ~u_,]I e-:i&. .)c.
Each share certificate must specify: ~'i1..,.1c~1~)~_,
foreign currency without prejudice to the ..,_u~I ~.;I..!... ~ ~)'I ?':,,;.
the Company's name; the share's serial t}.;UJ r-5.JJ .W.;.J ~y:.11 f""")
percentage share of the Egyptian side in .;l.k.) .la..!.J JWI U"i.J ._} ..s~I
number; the number, date of issue, and ._...i ~.;-JI ..s .;1 j_,_JI ) _rill
the Company's capital and after the ·.J~~Wl~I
date of publishing of the Ministerial t})-:,.J ~.J.J .y:u t}.;'U.J ~\.:,
General Authority for Investment is so Decision authorizing the incorporation of LJ"i.J L4.J ...s.;~1 ~4 .J,!ill
notified. the Company; the number and date of ~)---,;. .. ~ .J ~ >1! JL-JI
entry into the Commercial Register. ~ tJ_,.JI r+'""'JI .l:i&. J ~~I
The Board of Directors is entitled to sell e-H ,) ~~I o).l) ~ ~.J
u4 .r-J:. J ~L.....;.. J JWI ,_,..i .J
the value of both authorized and issued
such shares on behalf of the defaulting l""L......JI yt.__...,,J r+'""YI .:i. ~
capital; the Egyptian share percentage; t}.;l.....:JI J 4----:i.i.. .J lA jS y J ~?JI
shareholder at the expense and risk of the ~ .J ....::...j .)c..J c::"JI ~ ftl:..JI
the number and classes of capital shares; .__.WI ~I t~'i .l~I
said shareholder without need to notice _,I ~ u--3! ~~ ~ ~;...... ."-:!JWI
the Company's object, principal office,
or legal proceedings after taking the ~L-.;...J) .la..! ..ill:i_,, ~w..i wl~l~I
and term; and the date set for the
following procedures: :~'ii wl~l~)'I
ordinary General Meeting.

a. Serving a sixty-day notice to the ~~I l""t.....JI _;l:le.) - I Each share certificate has a coupon with rL.....J) wb wli.J!fi ~ ..Jfa..J
defaulting shareholder by registered J:1--"""_,]I ~ ~ y~ ..ill:i_, a serial number containing the share's r.....i.J .....--Jc ~I ~.J u.J......
mail, return receipt acknowledged, or ~I ~lye. .)c. ~ _,i distinguishing number. .~1
by telex at the shareholder's address u;,._.... ~.J ~?JI ~
entered into the Company's records. . ..ill:) .)c. L..J:! Article (9) :
J=5 L4 <;!4! ~ t!jll ~ 01 ~
------..-"O';;~~;;;;-:;;:;:;;r.";.;;:Ji'M;:;:;;:;nr.;:;-;;-;:r;:rv---;::c:::::lr.;:i:::~-:-J":-:S~-=::---f---~~~~~·
........~a.• t.S~! ~ J:k.'il be paid ~hare-must
within a period ofno more than _;.....s.'J 1 .)c. wl _,;... .fa J)l;.. ,...,..
- -y
~I ,..._.,.'Ji rli) ~~~I ten years from the date the Company is ~'-!~~I ~ t}.JL....:, ,:Y.
. '-'-~:
~ ..• \j-'I
,. ~. .J '-.
- J_. - I ...r-
..;..~ registered in the Commercial Register at ~.):.l'-1.J ¥1_,.JI .) ..ill:i_, ..s.;4-=Jl
such dates and in such manner as the ..Ji~ o).l'/I ~~._;JI
Board of Directors may determine l+--1~ ~ ¥1 _,.Jl ~ :.F- ~
c. Serving a 15-day notice on the said ~ ~ rJtt......ll _;1.1..;..J -~ provided that such dates are announced ~ .J J!"il .)c. L. ~ .fa ~

shareholder by registered mail, return (~ _,l) J_,_...._,11 ~ fifteen days at least in advance and the wl.l~ ~~_,ii.JI tJ~i
receipt acknowledged, or by telex with ~_,~'ii lJ--< •.;~ amounts paid must be recorded in the ~ __>--..!.}.! r1 r+'"" JS .J '?+°"'JI
a copy of the said advertisement • >""
•. ,..- ...,..
-.11 ~I- .JI ·~ ·- 11
-.ft"' share certificate. Each share not properly tJ~ ~LJ_,]4 I ,y, a \~\.:,
indicating the issue of the newspaper .)c. L. .J:! fa .t.....;.. ~ .J 4-! indicating that its due value has been . LW. .u_,1.l.l J.b..:.:! ~1.N1 41_,11
• ..ill:) paid is legally unnegotiable.
in which it was published.
 approval of the transferee, transfer the ¥JI 1.l.i. <.S~ 'J_, ~I Jjw...11 ~
remaining unsold shares to third parties. ~ I J.J·y1 lJ---:1.1
· J .)·l.;j <.>"
· • L. c.s-
f"':! 1~ The certificates of shares sold in this way •.lt--! t4 ~I r+6"YI <.::.JI.it+-!_,
Such limitation, however, does not apply ~ ..,-i.J. t_,.r-£11_, j_,....,.)11_, are cancelled and new certificates are ~ ul u-1:- ~~~I
to the transfer of shares among spouses oJi)'I ~ ~ ~ lj) Jl~YI issued in lieu of them with the same ~ 1....4.JC .Y..fa!...JI ·~ <.::.JI.it+-!
nor between ancestors and descendants. ~ o..iWI .:i,. .} ~I .JL.:....11 ~ serial numbers. The Board of Directors u--1c ..:.;ts ~I rU.J'JI ..::.I j J.,:..:;
In all cases, the Board of Directors' ~y,l~ • .Jl..b.! ~):i 04 L..~ ~ shall deduct from the proceeds of such ~ ~-' . ~I ..::.l.il+.!JI
failure to exercise its above-said right ~ "-ill_,.. ~\'.i..,i .illj fa ~I sale the principal sums plus the interest, · · < · L. ~
• .. 11 I.>"'
· • l.>"
· .l.S_,,....,
· •u •• .JI .i.I
u~
within sixty days from the date it has . Jjl.Ull and expenses due to the Company and ..i.....JI _,i_, J.-,.....1 U- .4.S~ 4_,u....
been so notified by registered mail is shall refund to the shareholder whose <.S.i....JI l°4 WI ...,.....~ ~ UJ.JL-.. _,
deemed an approval of such transfer. shares have been so sold any excess LJ--A ~~.ii L.. ~ ..........,1 ~
amounts or claim any balance due, if any. .i.....:.c. J.).l~ ..,_.!~_, • i.il,ijll
Article (10) : : (I •) oJL. .~J_,.....,,.
Shares may not be disposed of during the J:)L...;.. r+"'YI.} u~I j~ 'J
first two (2) years of the Company's term ~ 'i) .l.S..r-..:.11 ~_,\ii u,w....JI The exercise of the right provided in the JL-:,..._...I ~) .l.S~I ~~I y ).! 'J _,
except with the approval of the General ~I_,..._.... .J~ .._.WI ~I "-ill_,.. previous paragraph does not prevent the ~ ~ ~t....JI o .;ill4 .;_;WI ~I
Authority for Investment whether the _,I ~ 'J1 .liil~ u~1 0ts Company from exercising at the same 4-l~L....~~!~~1.;
disposition is in foreign or local .~1~4 time or thereafter all other rights <.S ~I ..::.Lit.....;.._, J_,b. 04 0,!.il _,ill
currency. provided by the law. ..,-i t-Ul' UC ~l:wl 1"41.-.JI ~
. _?.i ui _, <.S l .} _,l ui _,JI u..ii
Where such disposition takes place after ~ ~ u .>---:.11 .:;ts lj) i...l
the lapse of the two (2) years, only .JL..l...i.J.! ~ L>jj.Jfi.l..11 u,w....JI A person who intends to transfer his/her 0-"" JjL..rill r~ 04 ~ ~-'
notifying the Authority is required. .u~4 ~I shares shall so notify the Board of •).i! ~ .Jl..b.J.! r.,,AJ ul ..........,1
Directors by a registered letter including ~ ~ y~ ~ .l.S~I
Article (11): : (' ') oJL. the name of the transferee and the f+--""YI ..i~_, ~I Jjl:il.JI r--1
All transfers of shares must be effected in u~I ~J.! r+6"'JI ~ Ji:W number of transferred shares. The } .......b.J..i IA .J-'.li r_,ij_, ~ Jjli>.JI
writing and must be entered in a special .l.S~I <.S.ll ~~ ~ .} ~\:iS Company shall within seven days from ~>41 ~ ~L...,...JI ~
register retained by the Company called 'r+-""'JI ~Ji;~~~ such notice notify all the shareholders of L.,il ~I J:,'b ~ wl.il.ho.
--------.. ares rans er egis er a er LJ--A • t:'_,.. .) ..>'. ~ .la./ J s
submitting a declaration signed by both iL..cl~ yl) JjL..L..ll_, Jjl:il.JI -~'
the transferor and the transferee in which J_,1.l-.:il • .J.r-WI 4 _,;1.i.11 rts...'J1 Each shareholder is entitled within thirty e+----Y I ~I y!. .} ~I 1"41.....w ~ _,
they agree to comply with the legal ~ J:..11 .l.S~_,. ~I cJl.;_,YI days from the date he/she is so notified to r+-'"'I 04 ...st.,, 1.. ~ ~_,..,....it
requirements governing security H~ ~~I ..,....._lhJ ,) purchase the shares on sale on pro-rata ~)~ u- L..~ u;;::;:. J:.'b ..illj_,
negotiation. The Company may request cJ..)JL..i '·• ;21.1 ..::.~ 0,!S..)JI basis. After the lapse of the said period a .J_,_s.iJI ..i~I ~I 1.l~ • _;l..b.J
that the capacities of the two parties be . ~_,;I.ill second offer shall be made to U--0 ~1.)1 ~ u:a_,..11 ~'
verified by legal means and that their shareholders desirous to purchase the c.J--o ~I..~ Ji ~WI
signatures be legalized. shares on pro-rata basis depending on the .. 1 ~ 0_,..i ..illj .la./ ~ t.._, r+6"1
shares he/she owns. The owner of the JjL.ull ~~I r+6"YI .!llW ufa.
Even after the transfer of shares is ........_:;t,UJ_, Jjl.Ull J_,.....,,. 04 rt-.)\..!_, shares may, subject to the Board's o)..i'JI ~ ~I_,... .la./ ~ .u:.
 effected and entered in the Company's u.J--:L'.US....ll ~ ~~I ~ ._,.i
Company's By-laws and the General Register, the original shareholders and 0_,.,,;L.U.J1 0.,IJL..u.JIJ 0~'11
Meetings' resolutions. the successive transferors are jointly and 0-- t;"J ~ ~ U.-l....4:il4 u,.1;......
severally liable together with the CJ---- ~I e}4-JI (F- ~! I _,Ij!L
: (' t) oJL. I.'~ J •1L..J1
Article (14) : transferees for any amounts remaining ~. u . i (S' 11.......... J r"t"'""Jt.1 ~
• -
Each share is indivisible. . ~~ Jili _;#. r"t"'"" JS unpaid of the shares until the amount of ~ Jl,,..'JI ~ ..,.iJ .IA..ll.i.....
the shares is fully paid. In all cases. this ~JL....:, 0-- jfi.l.... ~ ~4 .,:,..l....4:ill
Article (15): : (' o) oJL. joint liability ceases after two years from Y! JL.!...JI J;......!1 .) Jjlr.11 ..:.t;.J
No heirs or creditors of a shareholder are ~4 ..y:.;1.ll Ji rAL.....ll ~J_,i
j.YH 'i the date the transfer is entered in the said ~ ~L.....:..c.l iJ--- 0u;! eJ~J
entitled for any reason whatsoever to .I
.- ·,..;.'JI t""·
I
>! Y.'··'Lb.. ·I
• u ..:..il.S ~.
Register. The certificates indicating that ~ L.:.;..JI wl..llt...:JI i)c o)..l'JI
request the seizure of the Company's JI ~I.) Ji ~~I _;.w i)c the share transfer is entered in the Shares .~I Ji,i ~.)~'JI ,......'JI
books. documents, or property, or Jl~1~,)'iJ4JISt..... Transfer Register must be signed by two y,.....A.ll ~! r"t"'"""' tj~'J ~J .
demand the winding-up or the sale of the u·I" •J ~I u
·tS..I. r-
·'·' ~ . '--··
~ Directors. In case of the transmission of u)_,11 i)c ~~_,II JI uJ'J4
whole Company, nor to intervene in any o J.i) ~ ..:..;l.S ~_). ~4 I _,l;..l7y shares to third parties by inheritance or J._i; ~ ~ J ..J tr"""' _,,.JI JI
way whatsoever in the management of Jl.W..._...1 .) ~ ~J , ~~I by a will, the legatee or devisee shall ljJJ • Yl JL.!...JI ..µ1 ..,.; ~I
the Company's business. In exercising ..l ~ ~l_,i ~ Ji_,.:JI ~fa.. request the registration of such transfer in ~ .J4! 9w1 ~ J_,11 ~ Jii 01.S
their rights, the shareholders' heirs and/or ~J~~14J4L...o..J~~I the above-said Register. If the transfer is ..:i4-JI .) ~I c.S ..» , _,;t._i ~
creditors rely only on the Company's . ~WI ~I wl).)
made pursuant to a final judgment, the ~..JS ~J ~I l.lA ~ i)c
inventory list, · records, final accounts, registration must be made in accordance .~ i)c tjt.lll wl.ir.......ll ~
and the General Meeting's resolutions. with such judgment upon presentation of
the substantiating documents.
Article (16) : : ('') oJL.
In case of the Company's liquidation, '"-1.ila... ~ .) ~I JP-:! r"t"'"" JS In all cases the transferred share must ,.._.JI i)c y!o)! J)_,,.'}1 ~ .)J
shares of the same class will have equal ~ iJ--- r"t"'"" 'ii 0-- • _;#. ~ bear a statement indicating that its u......li.i ~ 1"""'4 ~I Jii ~ ~
cL.....J 'JI ('L..Uil. ~. _j ..>!¥U
. • )I... t Y'·''I
rights in the Company's profits and asset ownership has passed into the hands of ."41J
titles. .l......Jc. ~~I wl..lp..>- ~ .)J the transferee.
.~I
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~-.-~~~icte(l2:
Article (17): : (' V) iJL. A shareholder is liable only in-so-much
Mature share dividends are paid to the ~' ~ ~1 c4JY1 ~ as the value of his/her shares is
last share owner whose name is entered J;.._... ..,-i
~! ~ ..i ~ ~'J concerned. The shareholders' liabilities
in the Company's Register and such ..,-i ~1 ·~J ..i ufo.J ~~1 may not be increased and all shares of
shareholder is solely entitled to receive ••.• 11 .·~~I ~11 .•• 1I .• :.......•
re-- ....,---- c+: ...,.....,.. the same class are subject to the same
all sums due on the share, whether such JI c..~.;'11 c,,i ~ ..:..;l.S .,1_,.. liabilities .
sums be a part of the Company's profits . ~~I wl..lp..>".) ~
or of the Company's assets. Article (13): : (' r) i.ll.t
The Ownership of a share inevitably J~ ~I ~ i)c W... ..,.Ufa.
Article (18) : : (' ") oJL. implies his\her acceptance of the ~ ~).;--iJ ~~I ,.Um.i
Subject to the provisions of Article 33 of 0--o (1"1") o..lL-.ll ~ •U:.ly t:'"
 basis according to the value of shares wl.l i.J---A ~L........JI ~..SJ~ Law No. 159 of 1981 concemingjoint- wlS~ s ....._.L....J1 wlS~ u_,lli
each shareholder owns provided that al I . J_,h.JI ·~ Fl ~ ~yJI stock companies, partnerships limited by wl.l wlS_r-.!.)1_, f"f--Y4 ~_,;11
shareholders of the same class have equal shares, and limited liability companies, .i..L_.J 1 o "i e-i.J o.l~I ~_,;......JI
rights in this respect. and the executive regulations thereof, the j~' _. 1i1irJ1 -U:..:.'J_,
Company's capital may be increased by c'+"'j ).l..ol-! ~~I JL. (.)o'i.J o.l4j
'°'"'
In the distribution of dividends or wljl _ __;,..'jl ~ y,_fa j.>'H t..S issuing new shares with the same ~I ~')I L....,.i)I ~ ·~
liquidation's proceeds, certain privileges JL_.JI u-1.J o.lyj J;i 4....;lill ~
may also be decided for the shares ~Li _,I c'-uYI ~
nominal 1 value of the original ones or be ..!l....l.lS .)~. L..s l...l...l'I
- l ~.. °"'
~1,... .!1.1.l_, reduced in the manner stated by the said ~I ~_,JI ..)c JWI u-1.J ~
existing before increasing the capital. An y,t. ....WI ~ .:;fa._, . ~I law and the executiveregulations thereof ~J .01i1iii]I -U:..:.'/_, uylill I~
extra-ordinary General Meeting is .~~.,..le ~1_,.JI ~ ~JWI after obtaining the approval of the ~I
. °"". ·--.
entitled upon a proposal by the Board of ~~J~ I 1.1c wl .).·t..u..'JI General Authority for Investment in both
Liil_,.. ~
. ~WI~ .J~
J~I ~
-...w1
Directors supported by a report of the ~ ~~ .ill.l s oJy)I J;i WI.ill cases .
Auditor to confer some or all of such ..>---:A I~_;.. o)J'/I vJ.;..... clJii.1
privileges upon the shares existing before . ,:;l.!JI 1.l.\ ~ w\.il.....:JI ..,_.ii~ 0-- Article (19) : : (' °') o.JL.
such increase. In case of increasing the capital by t'i-'"4 JL-JI (j'l .J oJyj .Uh ~
issuing cash shares, priority in buying the ~ <S'"l~I ~t......JJ ufa. ~Jii
PART III ~ .... 4JI new shares is given to the first oJy)I c'+"'I ~ yl:i>S')I ~~_,]_,YI
BONDS ~I~<) shareholders on pro-rata basis according . ~~I c'+"'YI ..l..lC. ~ ~
Article ( 21 ) : : (n) o.it.. to the number of shares each shareholder
Subject to Articles (49) through (52) of ~! t "i U.- Jl_,..JI i-~1 ilc.l~ t"' owns .
Law No. 159 of 1981 concerning joint- ....._.L........JI wlS~ 0,,iLi u.- oY
stock companies, partnerships limited by wlS~IJ c'+"'Y4 ~_,:;JI wl5~_, Where such precedence rights are ~I.lilt ~L........JI .JL..J.u.l ~-'
shares and limited liability companies, I o"i r-i.J oJ~I 9;....JI wl.l conferred, the first shareholders are Uh ~ • oJ'-:!)1 c'+"'I )~4
and the executive regulations thereof, an ' ~I~'/_, \"iAI "-1...J notified by public notice or registered • ('+--! L...-1..i. ~_,!_,I J_,b y,.fa
ordinary General Meeting may decide to )~) .J..,>-iJ .) ~WI ~ mail. as the case may be, of the issuance ~ ..)c J....- y~ _,I y!.l!Li
issue bonds of any type but such decision ~~-'..;:.;LS tY t.SI ~ wl.ii.... of the new shares in accordance · ~ I
must md1cafe the value of the bonds, the 1'_,~_,
d::i:t:::JI ~ ) • 1 IJA.
executive regulations of Law No. 159 of 'o"i r--i.J 0_,.;lill ~~I~
conditions for their issuance, and .,-J) Ji~ ~Li :..S.li.J lA).l..o) 1981 and are given a deadline of no less ~L......JI ~ t-' I °'A' "-1...J
whether they are, or are not, convertible. . c'+"'i . j
than thirty (30) days from the opening c-« J__.iJ 'J ..,..~ ~ .,.-1.lill
date of subscription to subscribe to the ' . yl:i>S)'I Y4 c:ii u.o L.~ ~
The ordinary General Meeting's L..WI ~I wl) ..,>--S .lW 'i s new shares.
Resolutions in this connection take force L_ill~ '/) 0l.!J1 l.l.\ ~ iyL...:.ll
only if approved by the General ·.J~ .... Wl~I Article (20) : : ( y • ) i.JL.
Authority for Investment. Where the Company's capital is j~ JL_.JI u-1.J i.lyj .uh ~
increased, an extraordinary General ~.fa ~WI y,t. ....WI ~.
Meeting may decide to give priority ('+-'"'I~ yl:i>S'jt ..} ~_,]_,'JI ,i,h
rights for the first shareholders to ~ ~ <S"l.lilt ~l....Jl iJ4)l
subscribe to the new shares on pro-rata 0l.b~~~1~1..J1~
 I
Article ( 23 ) :
The members of the Board of Directors ~ o.l.ol o Jl'JI ~
are appointed for a period of thfee (3) •):i'JI ~ ,) ~
: ('' r) o.ll..
• W.C.I 0.!--:!
1..::..l_,L.......
PART IV
MANAGEMENT '-5~
~1.)1-...4ll
o.;IJ! i) I
years. The Board of Directors appointed L......;li ~ ~L..ll o:iWI ._} ~I CHAPTER (1) J}JI J.,.Wl
under the previous article, however, • ..::..1 _,i.. ~ •.l.J "11...c. 4 THE BOARD OF DIRECTORS '-5~ o.;IJ! ~
remains in office for five (5) years.
Article 22: : (") i.ll.o
Juristic persons represented in the Board (.)a;. .~)I ~ .!LJ.l J--""-:! 'j .J A Board of Directors composed of three o):i) ~ A.S~I o):i) c)_i>:!
of Directors, however, may substitute ~·):i'JI
their representatives in the Board in the ~~l._}~iJ.oJl~J
~..}1.5..Jt.,.Jc.'JI

manner set out in Articles (237) and Yr;.., Yrv ~L.J\.i ~'_,,...;JI
most is appointed by the General I.
members at least or nine members at the .JI Js")rl c)c .w.c.l ~ iJ.o Ul).o
i1-i foYI c)c ~w.c.l ..........
Meeting. The Board of Directors is ~JS._} ..b_M.J ~WI ~I
I

(238) of the executive regulations of the ..::..lS~ 0.Jei~ .01l:!ir.l1 ~I 0- authorized to manage the Company's A.S_r.!J1 r+'""' iJ.o ~ lS.11... 0fa 01
law concerning joint-stock companies. . .i...Al-JI
business provided that each Director ~ •y:.c (%'.) wi:- ~ J&.'i
must own a number of shares with a total . ~I '".Sy:.11 Jl. t.>"l..J iJ.o ~WI
Article ( 24 ) : : ( Yf) o.ll.. value not less than ten percent (10%) of
Subject to the provisions of Article (245) 0- Y to •:il-JI rli...1-.lc.i.>" e:-- the Company's issued capital.
of the executive regulations of the law ..::..lS~ 0_,.;L.il'" 1\1i;.11 ~I
concerning joint-stock companies No. • 1 0 °'"' ~ ' °'
ri..J .i...At-.ll The shareholders must be represented by
159 of 1981, in the absence of substitute ~ ~ r.l 1.lJ • •):i'JI ~ a number of members on pro-rata basis
members, the Board of Directors may, ·~YI .,,..:-JI J-· w_,b..,i .w.c.l according to their percentage shares of
subject to Article (344) of the executive ~I ,µ1yi1 ..} .w.c.l 0.!--:! ,) the capital.
regulations of Law No. 159 of 1981 l"~l •Lc.ly e;-.o ~I .~I .,W
concerning joint-stoc k ·
comparnes, ' ·. :-•1 ~I
~ ·
v- rt t o:iWI In all cases, the Egyptian Tourism JS~ i:,i ~ Jl~YI ~ ..}.J
°'
appoint members to fill the positions '0 ~..J .i...At-.ll ..::..lS~ 0.Jei~ Development Company and Oberoi- "--,iy.a..ll ~~I ~ A.S~ iJ.o
which may become vacant during the 1.:i.._. •'..P.-! ~ ~..J I '\A' ~ Hong Kong Company must be ~ _,..._.:-. ~,,s ~_,. 1.5.JY..Jl.J
~~~~~~-,~·e~ai~.~~Th~e,._~B~~al~make-sue~n-_,.;......_.:-40""""~~ .......~-·~·~,~-lll-~~+-~~--.~p~rre~s~e..-~h4:>yon~mem1i'erafieast J=i,i-'11 j;..)""1 i.!l.C.J toµ; ~l~\1'1-----
appointment if the number of its · ~1 t 4! ~ yt..-; provided that the percentage share of JL,.. t.>"l..J ~ ~ 1.51 ~
members falls below the quorum of the each of them of the Company's issued . %1, j:- ~I A.S~I
Board's meetings. capital is no Jess than ten percent (10%).

The members appointed in the manner By way of exception from the above-said ~~I ~_). 0- •~!.J
described in the previous paragraph way of appointment, the lncorporators ~ J.JI 0_,...._).oll ~ fi~
I

assume office immediately and remain in have appointed the first Board of Directors : rA .w.c.l (~) r 0- •):i!
office until the General Meeting comprising the following three members:
approves their appointment or replaces ............................................. .............................. ·'
them. 2 . ............................... 'I'
3 . . I"
 or represented in the meeting and that such ·~ Article ( 25 ) : : (Yo) ;JL..
meeting is held in Egypt. The Board of.Directors elects a Chairman ~_;....;1.....ac.i0.H.:,,...~1~
from among its members and may elect a Lh... ~ A ).I L,UL; ~ j~J
Article ( 28 ) : : (YA) ;JL.. Vice Chairman to act for the Chairman . ~ye. o~I
A member of the Board may, when ~~.JI o_;IJ)'I ~ ~ in case of the Chairman's absence.
necessary, be represented by another .l........:>..i ~I ..,.--i s ..!Jy4!1 _ljc
fellow member in the Board. In this case, 14--J .jfa '-.!WI.» .}J ,....:,)L.j In the event of the absence of the ~ 4.,UL;J A .)1 ":-'4C .Ul.. ~ J
the member of the Board acting by proxy · .j~ ,) ~J · .jl'.i_,..... ~I Chairman and the Vice Chairman. the JL..:.4 i'~ ..;:ill _,...:-JI ~I
for another fellow member has two votes. L....:~ LS.r-11 _,...:-ll .:.F- ...,..Ulill Board shall appoint one of its members . t.S _;.. ~w)1
A member of the Board representing an ~~~~.:.ii j>'i'-! 'JJ to carry out temporarily the duties of the
Egyptian fellow member must be . ~iJ ~ 0-" .fol .:.F- >):.~I Chairman.
himself/herself an Egyptian . .A member ..l....:!Y. 01 jYH 'J J1_,,..'i1 ~ .rJ
of the Board, however, may not represent :..Lc. ~ ~ LJ:!!.i:i..i.JI ..::.i1_,.....1 :.:Jc. Article ( 26 ) : : (n) iJL..
more than one fellow member and in all j~ ...;I~ 0.!~WI ..::.i1_,.....I The Board of Directors may appoint, j...-,H ..:r..o ~ 01 o):.'/I ~
cases the votes of the entire members :.~J '-.!~ ..,.i LS)~'/1 ~ from among its members, one or more , .J...-.SI Ji ~.l.'.i..i... I~ ....;~i
acting by proxy may not exceed one third "'-.ic. ~.) 4-!'-:!t. Ji .i.L..... LS.ll e;Jl.. Managing Director(s) and determines ,...:;lSl.i..J ...:il...:,~I ~I J-1.>.:J
\
of those present. A juristic person may, if · ~I 0» .} •..>F his/their duties and remuneration. The ~ ..:r..o u_j ~ .jl .u .jfo L.S
) there is an impediment preventing its Board of Directors may also establish, ~~.fol Ji~ .u~i
representative from attending a certain from among its members, one or more ~IJA! ~I ~JI ...:il...:,1.....:.:U.I
meeting or in case of the absence of the committee(s) and delegate to such wl_;l_.>---i ~J ~y:.14 J.-]I .;:-
said representative, delegate another committee(s) some of the Board's . t>"4-JI
person to attend such meeting. powers, or the authority to control the
Company's business and implement the
Article ( 29 ): : ( y .. ) ;JL.. Board's resolutions.
A meeting of the Board is valid only if 'J) ~~It~! 0fo 'J
attended by three members at least. . js")rl ~ ~~i ~ ·~ 1~)
Article ( 27 ): : (YV) ;JL..
.....~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~+-~~-1:1UJ.CaI;;..~utb~e:-.~Coompa~ "nter-es ~~-:i~)"ll~.,-w,. ..::i.-:n.:ir--~~~~~
Article ( 30 ): : (1" ·) iJL.. requires, the Board holds its meetings at ~I 14 ;,1 a- ..::.i.:.:. ws ~y:.11
The resolution of the Board of Directors o):.'J1 ~ wl)..r-J ~ the Company's principal office upon a ~I.-'! JI ~.)1 •_,c.:. ~ .~Li.r..il 0~

must be passed by an absolute majority 0.!~WI ~~)U ...m...JI ~Y4 invitation by the Chairman or at the 01 ~J , ..,,;~i ~ ~ ~
of the members present and represented. w1_,.....-YI ..::.iJL...:i lj\,i • ~IJ request of one third (l/3) of the Board's -:..1_,_.. ~--ui •):.'JI~~
In case of equal vote, the Chairman has a . ~)1 ·~'-':ill ..,_..;4".11 ~->.! members and shall meet four times at L,JWI ~I J)L.;. J_j)'1 ~
casting vote. least in each fiscal year. .oh.I _,JI

The following resolutions must be passed y\:lll wl)..r-iJI .J~ 01 ~J

by the affirmative vote of a 2-third 0.!~~I ~L....._...;,c.YI _;lj ~4 The Board may also meet at a place C~ LJ"4....l1 ~ 01 w.,1 J>?-:J
:t\...4'11..,.i~IJ
outside the Company's principal office if ~ 0fa 01 J._fa. ~y:.11 fiy
majority of those present and represented
special circumstances so require provided, ~ ~ Ji W:lfa~ ...;~I
in the meeting:
however, that all members must be present ~ t~'JI 0fo ulJ t4'JI
 1
J
a. A proposal to increase or reduce the Jj JL_.JI u-1.J oJ~j (I j'.i.-.JI - i
Article ( 33 ):
: (,.,.) o.ll..t Company's capital, prematurely .ll..y.JI J,.i ~ y:.11 ~ Ji ~
The right to sign severally for the u---1c ~ y:.11 t:,F &i_,;JI ~ ~ dissolve the Company. extend the rl~I ) 4--J.i.. UU.) Ji
Company is vested in the Chairman, the 1.J:.'/I ~ ~.J 0-- JS .li.fal Company's term, or use the ....,.Ol~'jl ,Y.--i:-.) ~l,ih)'I
Managing Directors and any other JSJ ~I 1).l'/I ~ ~t.....:...c.lJ Company's reserve for purposes other . .....i~.;.i1
member delegated by the Board for this 14--J u-4-JI ~ ~l ~ than those for which they have been
purpose. The Board of Directors is ~ tYJIl).l'/I ~J' u.:.>~I allocated.
entitled to appoint several managers or ~'.:IL.SJ JI ~y,.i. o..\...-C. ~ t.:il b. Election of the Chairman of the Board o).l'/I ~ ~.J yl.;..jjl -y
authorized agents and to confer upon ~
- L....a..1 -• I ·
- ("t-"~ u· I J .......--~
·........:.. .i.. and the Managing Director . . y.l'.ii.JI ~I J
them the right to sign jointly or severally JI ~fa ~ _.>-..:.11 0---' &i_,;]1 c. Termination of the management ~~ ~ o).l'/I ..i.ic ~!+i! - --.::>-
for the Company. ·~ contract with Oberoi - Hong Kong . rf'Prf'.JA...sJY.JI
Company.
Article ( 34) :
: (,. t) o.ll..t
In performing their duties under the -..Jb'/1 ~ ~L...:.:u:.I ~ 'i Article ( 31): : (r ') ;JI...
authority conferred upon them, the ~ ~11.J rl+--! ~4i ~ Subject to the provisions of Articles (96) (n) Lr-- Jl~I r~i •~ly ~
members of the Board of Directors do ~ ~ ~ jJ-,. ~4 r+JIS J .lJ-A through (IO I) of the law concerning .:.IS~ 0_,.;u 0---- (' . ' ) ..r1.'
not incur any liability in connection with . as y:.11 .::...1...1 Jll4 joint-stock companies, partnerships ,..-..Y4
~_,:;JI w\S~J ~L......JI
the Company's obligations. limited by shares, and limited liability t.l~I ~_,;....JI .::...1:i .::..i\Sy:JIJ
companies hereinbefore referred to, and ~, -"1'>)i!ll ~'iJ ~I .JL.:..JI
Article ( 35 ) : : (,. o) o.ll..t the executive regulations thereof, the ~~I o)J!.) U:.l.. t-""Ji o).l'JI
The Directors' remuneration is paid from w-•).l'/1 ~ •L.i\S.. wfo ~.4.:.,1
Board of Directors has full authority, r ->- ""'..li..i.U..11...1.l<:.L....;
. -
the percentage share provided under ~ l+!lc- c..>A _,-l.JI ~fa.II ~I without limitation, to manage the ~ u~J • ~Wl ~ ~y:.11
Article (57) hereof plus such attendance Jl.....! 0--J rt.l.:ull 1.l. L>'" (ov) o.lWI Company's business except where ~ ·~4- ...J j~J ~I·~
allowance as may be determined annually L......WI ~I ~ 1.5.lll .J~I specific matters are explicitly reserved by Lil.:i...ll c--Jl __,111 t""4 JJ wl.S ~I
........ JS4
by the General Meeting. the Company's By-laws to the General u_µJ L_,.IWIJ ~).l'JI u~4
Meeting. The Board may take all legal ~ 1...$ , ~WI • la..J ..)}l.WI
C AP EJJ_2,_ .u;.==.~=:..-------t"----atti'onr,-ti a e regu a ions govemmg ~~l>.Wl'~I
SUPPORT MANAGING ~ja.JI 4;1.fil ~ . the Company's administrative, financial, ~~'/I tjJ_jJJ ~~4!J
COMMITIEE and personnel affairs; and lay down . w4J_,;......JIJ
special rules for regulating its activity,
Article 36 : : (,.,) o.ll..t meetings and the distribution of duties
Where the number of the Company's ~~_.>-..:.II 'O.Jb! ~ ~ and responsibilities .
employees reaches two thousand (2000), !+:ii ~J u:14WI 0-- ti JI.a.. ~).l!
the Company's Board of Directors shall · H ~ ~J ...,_.;~YIJ u~_,...-11 Article ( 32 ): : (n) oJL..
establish from among the Company's ~J • J.,.l.c. Y • • • ~WI .).)I;. The Chairman represents the Company ~~lo).l~l~~.J~
employees a Support Managing j,___j\S ~l.J-l! •.J_,_s:i..JI ~1 before the courts of law and third parties. . _>.!Lii J ~ L..:..i.11 rL.i
Committee ( the "Committee" ) ~1..>! ~l.J-l! ~1 wl.c.~_,..JI
representing both Egyptians and non- rLli'/I ~.JJ ~_.>-..:.14 UL..a.ll
 members. Resolutions are adopted by a ..,_,;L..,..11 ~.J wl_,....YI ..:.,Jt...; 1.:ii.; Egyptians. The Committee is authorized •).:i'JI ;,L._c.ly r--4 ·~_,.b:,J
majority vote of the members present and . ~ 0-- JI ~_;II ~ ...s~I to consider all the Company's labor c>l.i..;..::.___.,) ~J ~I ~.:iL...:.::.i';I
in case of a tie, the Chairman, or programs; production increase and ~~~~I .:i),_..11
Chairman's representative, has a-casting development based on sound economic l+,JI JW ~I ,.;_?YI wlc ,..o_,..JI
vote. management practices and the efficient ~ ,..:.= Ji o ).:i';I ~ .»
utilization of the available resources; and ~I ~YJ, y.Li.WI >j~'JI
Article ( 39 ): : (,..,) o.it.. all other matters referred to the ~ .)! ~1.J.:i ~t.i J (+j4--o;.
The Committee prepares and submits to "-..i...JI J)G. 4_,;... ly,fa ~I ~ Committee by the Board of Directors or . o).:i'/I
the Board of Directors an annual report ~ ~ U:O~ ~y:J} "-:!]WI by the Managing Director. The
on the Company's activities during the ~I wlc.,...._,..JI 9 ~y •J:i';I Committee shall present its
Company's fiscal year indicating the 4-iL...!.:9 "'-! ..:...woJI L.J l+,JI ~i recommendations and findings to the
subjects referred to the Committee and ~ ~y:. .s » ~1 (+jbl.fol J Board of Directors.
the Committee's recommendations and ..s-----31 I+! h 'j I .s .:i }.! ._;JI J J-4..JI
proposals which, in the opinion of the .~~I~~ Article ( 37) : : (l'V) i.JL..
Committee, would serve the Company's The Committee appoints from among its , L...;j .J ~~ i .J,H 0-- ~I .J:iU
interests. if adopted. members a Chairman. In case of the .s L..JI ~I .J:iU "-!4&:- 4..lb .) J
Chairman's absence. the Committee . \:;i_;.. 4....u_,11 JL.c.~ f'~
PARTY appoints an acting Chairman.
THE GENERAL MEETING
The Committee's meetings are attended _,_.....:oc. ~I wlc.l...41 ~J
Article ( 40 ) : : (t·)i.ll..
by the Managing Director, or whomever ~~ .j.o Ji ":-'.ii.i..JI o).:i'/I ~
The General Meeting represents all the ~I~ ~WI ~I .]W the Managing Director may delegate J.l.........LJ, o).:i'JI ~ ~~j j.e
shareholders and is convened only in the ~
~ 'i! LA.:ili...;) j~ 'iJ from among the members of the Board of ~ .r-..:J~ j!I ;..._.......JI ~y,.4)1 j.e
city of Cairo. · .o_;Ali!I Directors, and a number of the .jfa. .jl .jJ.:i o).:i'JI ~ (">.J~
Company's directors selected by the . JJ.a.. ..:.._,.....
~
Article ( 41 ) : Board of Directors but not given voting
~~~~~~!E~a~ch!!..JS~h~ar~e~h~o~ld~eir~i~s~e~n~t1~·t1~e~d~to~at~tean~d~i!L-?~~~~'f-'~~~~";'.'-~~.,-~~---·ght~.~~~~~~~--=::__~~......:::
person or by proxy the General Meeting
of the shareholders. Article ( 38 ): :(l'A)iJL..
The Board of Directors determines the .l......J:.l_,5 ~J •).:i'Jl :.J-4... ~Y:!
A shareholder who is not a member of ~~I y,t.->- ~t.....Jl j~ 'iJ Support Managing Committee's rules ~I ~~I .J~l 1.J~J
the Board of Directors may not delegate a ~1........:.c.~01 •).:i'Jl ~ and conditions for member selection, ~~1 o.:i-.J LJl.a..JI ~).:i'JI
member of the Board to attend the .J~ ~ •).:i'Jl ~ ~~i membership term and method of .Lili..J t+l= f'lhi J ~I ~_i.b J
General Meeting. To be valid, proxy ~1,- ~J • .~Wl~I - . renewal; method of operation; and ~·y~l~J' ~l....:ocl
must be made by means of a written u-1~ J!S Y ~ ~~ 0fo 01 ~\,!JI member's remuneration. The Committee (~'ii ~fa.'iJ ..).!~JS j;'JI
power of attorney and a representative 0fa. 'i J • L.4 L...... J!S_,Jl ufa. 01 J meets at least once every two months and J.l......J:. w......r. ·~ l.J) 'J! h.p...o
must be a shareholder. No shareholder, (.)Q~y1 y,....&. 0---" ~L...... t.SY the meeting is valid only if attended by at ~J j.....J"jl cs-1:- ~~'JI
other than a juristic person, acting in ~ ~u JI ~I .u..o.Y. ~).~'JI least one-third (1/3) of the Committee's .J:!~l ..:..1_,....1 ~~ ..:..1).j.ll
 The Board of Directors shall convene the _,._....&-~.) o):i';I ~ ~.J person or by proxy, may represent more 0---A .ll.-c. L...... ~4 JI .);!A.JI

General Meeting, if the Auditor or a \j! :ili...;")'I .)1 ~WI ~WI ~I than fifty percent (50 %) of the number ~ L>"" (%0 .• ) j.J~ ..:.1.,.-)11
number of shareholders representing at .Ji , w~I yil .» .!lJj "-;!11 ..,..U. of votes of the shareholders present. ·0.!faWI r+"'Y •.J_;i...11 ..:...1.,.-)'1
least five (5) per cent of the Company's j.......A ( % o) ~ ~ L....JI L>'" .l.lC
capital so request, provided that reasons ..l:. ~ J9"";1 .)t:. ~~I Jt... IJ"l .J The Board of Directors must be :::w... •.;l:iJ'I ~ ufo. .:,,1 ~.J
for the caJI for such meeting are ..:iiJ ~' y4------i l~.J:! ,) represented at the General Meeting by a 0--J:. ~ 'j ~~WI ~I ._,i
explained and the shares owned by such Ji ~.;--!JI j$y ~~I 1.JC:iy, number of members no less than the :iL....WI L.:......:..l • .)1 y ~I .,JI .l.la.11
shareholders are deposited with the ~j~1'J.-..i...::.-..J1..!1~1 :i.:..I quorum required for the validity the i;JI JI>=" YI Ji:. ~ .ill.:lJ , ~l.J,.
Company's principal office or at a .~I t,.>4w.&;) ~ 1'! r+"'")'I .~ Board's meeting unless the number of the ~ ~L.......oc.1 ~ ~ ~
accredited bank and that such deposited members of the Board of Directors is less ~ jYH Y.J' .ill.:l (.F- o):iYI
shares may be withdrawn only after the than such quorum. The members of the .)~CF- •):i'j\ ~ ~w.c.1
Board of Directors may not absent
General Meeting closing. · J_,,.i. fa fa. t4YI
themselves from the General Meeting
~):i'XI 4-?JI JI ..:.4~1 yil~.J without an acceptable reason.
The Auditor or the competent
administrative authority may convene the ~WI ~I JC~.) ~I In all circumstances, a General Meeting ~ 'j ' JI~")'\~ ..,-JJ
General Meeting if the Board of --~.I.>':·!..., ~II JI , . .)'1 ~·. .J· :i~
1. .& •
is valid if attended by at least three (3) ~w.c.1 0-o ~~ ·~ l:.i) t4YI
Directors fails, though it is required, to ~)I .)t:. o_JC.lll (.F- o):i'!I ~ members of the Board of Directors of j-.-A ufo. JiJ'I .)c. &):i'j\ ~
call for such Meeting and a period of one ~ ~ .JJYJ' .ill.:l Yfe.J L>'° whom one is the Chairman, or a deputy .JI ~Li .JI -. ):i'jl ~ ~ .J ~
month lapses from the event giving rise ..sLll t:.i.JL.:JI ~-l! JI WI .,JI Jb.J thereof or a Managing Director if the .!Lll.J oJl;::u ~I ~l...:.:.c.YI :i.:..I
to the need to make such call or from the ·t41'1 .)1 •JC.lll ~_;, ~ Y"H meeting fulfills the other conditions ..s~YI ..l:..J~I t~ .)ly 1:.i)
beginning of the date at which the Board required by the law and the executive ~\ · "L..iJI I. •,II
s o» ~ir- .11.~.
of Directors should have convened the regulations . _.01~111
General Meeting.
. Article ( 42 ): : ( t q i.Jl.o
The competent administrative authority is ul ~I ~_;l:i")'I ~ ufo \...$ Shareholders wishing to attend a General u~ Y. ~I ~L......11 .)t:. Y'H
also entitled to convene the General :i.l......J:.~l~~Wl~I JC~~-__ _j, ~M::ee~t~in~g~~m~u~s~t,ia~t~le~a~st~th~r;ee~fu~ll:d:a:?s~u~·1~~~~~1=·~;:
Meeting in the event that the resent ~1 · ~~i ore e enera eeting convenes, j-Sy ~ c'+4+"'1 I JC:iJI ~I I~
-------m-em-;-'bers
of the Board of Directors are less o:iL.WI ~ o.)ly ~lyl ~;i)'I present a proof that they have deposited o' ·10111 .!!_,;.,JI ~I~ Jj ~~I
than the quorum required for the General .i,,JI ~ 0_,L.i.JI ~w.c.)'1 Fl .JI their shares at the Company's head ~ .s~l .sJS..>-11 ..!411 joo
Meeting or if the other supplementary Jl.J----">")'I ~ .,,i.J ·.J~1 CF- office or at any bank accredited by the U.l.S ,_41 ~~WI ~I ~lWI
members abstain from attending such ~ ~ -. ~.lll '-i:!.Jt.-. ufo Central Bank of Egypt. . Ji)'t ..,Jc.
meeting. In all cases, the Company bears -~~I
the costs of convening the Meeting. No transferred shares may be registered r+--1'1~Ji;1..51 -¥ j~ 'J J
in the Company's Register during the ~ t:.i.;~ L>'" 4-S~I ~ ~
Article (44) : : ( t t) i.iLo period between the date of publishing the v">L....O:.iil u-1! t~ •JC.lll
The ordinary General Meeting is held to ;;,...:
~ ·'1-li..i.Wl~WI~ •. l.i&...;:; notice to the meeting till the General .~WI ~I
consider, in particular, the following :.;Li l...,!i ~YI ..,le. µ Meeting closing.
matters:
 accordance with the terms, conditions a. Elect and dismissal of members of the o).l'jl ~ .. w..:.1 ...,.,~, - i
and provisions of the executive Board of Directors; -~Y:.J
regulations of the law on joint-stock
companies. b. Monitor the activities of the Board of o).l'jl ~ JL....ci ~ly -y

Directors and consider the discharge . '"-:!l ;.....JI .Yo ....;:)L;..! .) µ1 J

The Board of Directors shall publish the ~..JI o).l'jl ~ _)c ~J of the Board from its responsibility:
balance sheet, profit/loss account, a _)L.....;;...llJ c.4)11 Y~J A_,ul_>.!..11
comprehensive summary of its report and J..Wt ~'J •J:!P ~'J ~J c. Approve the balance sheet and the 41_>.!..ll ~ L_H ......J1 -~
the Auditors' report twenty (20) days at t L..4' ~ -:..41........u ..,..Sty ..>.!P profit/loss account; . .Y~'J c.4)i1 ..,...~J
least prior to the date of the General ~ L......y, ~~ ;...w1 ~'
. Ji)'I d. Approve the Directors' report on the ~~fa~
Meeting. ~.)~I -J
Company's activities; . ~y!.11 .b~ J=. •).l)'I
The Board of Directors. however. may .j--o ~ JL...Jl-! .. WS)'I j~J
only forward to each shareholder by ~) ..)JI.JI a.foll .) ~I Jl.JJ"JI e. Approve the distribution of profits and c.~}il t3jy ..)c. .;,,;.;1_,..i1 -....A
registered mail, return receipt ~_,.JI .J,!~I J:!~ ~L....... JS determine the Directors remuneration .. L.-..:.:.ci -::...)' ~J -:..\.!LS.. ..l,!.i.:..:i J
acknowledged, at least twenty (20) days ~ ~_,:JI Jil.i. ¥4 ~ JI ~ and allowances; . -. ).l)'I ~
before the date set for holding the · • · w
;...w1 ~'- . .lie ~.)
..>!..>-------!
General Meeting a copy of the . Ji)'' l..Y. > f. Appoint the Auditor and determine the .l......-:!~J -:..4L...J1 ..,..Sly~ -J
documents described in the first Auditor's fees for the subsequent . ~::IJI ._)WI l'L...ll ~Wi
paragraph of this Article. fiscal year; and

Article ( 46 ) : : ( f '\) oJL.. g. Consider any matters submitted to the JI o).l'/I ~ S..>.!'---- JS -j
The notice of the General Meeting must :; J""?ll •_,col! .Jl.h:..'JI ~ ~ General Meeting by the Board of JI A a·,.;, .l\ ~-:Ul.l)'I L.p..11

be published twice in two daily ~.) ~Y tt..:..;..::U ;...wi Directors, · the competent (%0) ..:u-.sl":! ..).!:ill ,:,~Lo.JI
newspapers with the second notice being
published five days at least after the first
one is published. The notice of the
•_,JI.)~'~ ..JI .)c • ~Y.
u---1c tl:!' ~ .. \..waijl .lA.! A_,ul.jll
administrative authority,
shareholders holding at least 5 per
l'I .I L"'ll ..r'•· C";!.,.>~1.1.!L'l..!..---1----_,eent
· J Jl ~
· \.j · . IN! -&-..i.,.....
v1 me pany s capita .
or ._..Jc. ~.JC- JL_.JI
. ;...,w1~1
'-"'i .J j-o
L
------1t'ff>7<tmgmay e sent o he shareholders' -. _,c.l.ll .Jl.h:..) JL.. .JH .. WS'jl j~.J
addresses recorded in the Company's ~\.jll ~J'Uc.. ._)c. 0:""' t....JI ..)) Article ( 45 ) : : (to) oJL.
books. or by personal delivery signed by JI ~I ..l,!y,11..i ~y:.11 ~ The Board of Directors shall, at a date ~~~t.Jlo).l'Jl~_)c
the receiver. ~ .).!Mt.....ll wl.Jl.h:..'JI ~ appropriate for convening the General ~~~_,....,,.;.'"-:!lt..~
. ~_,:JI Jil.i. Meeting of the shareholders within a ~ ~ ~L....Jl ;...WI ~I
maximum of six (6) months from the end ·~~I ~.Jw 0-- _fo)'I ..)c. ~\
A copy of the documents published or of the fiscal year, prepare for each fiscal cLu"JI Y~.J ~y!.11 A..,ul_»..
served to the shareholders in the manner year, the Company's balance sheet, ~_>--.:.II .b~ o= I ..>.!faJ yt.....:..ll J
set forth in Articles (45) and (46) hereof profit/loss account, a report on the LAfiy 1)-L J ~I ~I J)l,;,.
is sent to the General Authority for Company's activities during the ended us ..illjJ ~l.l ~I ('LU..)~'
Investment, the General Authority for fiscal year, and its financial position in -:.,L._;~I J .bJ~I _j t W:. ]::U ~
 b. Subject to the approval of the General 6~ U.Ol_>--t-1 -4.iW.) j.YH -y Capital Market and the representative of ..:..l.l.L..JI ~ .O.C.4 J.,....s , JWI
Authority for Investment, new ~YI ~y!JI u.ol_:it. y .U.S... the Debenture Holders Association, at 6_,c..lll ~ y!..u (.5.lll ..:..i_,11 ~ ~
purposes may be added to the . .J~ .;_.w1 ~I .uil-'4! the same time at which the notice is u--1! ..:..1~1 ~ J..-_;. _,I
Company's original object. published or the documents are sent to . ~L....JI
the shareholders.
c. An extraordinary General Meeting may ~ ."L....WI ~ ufo. --.:;-.
decide to extend or reduce the .i......1 UU.) ..,-i ..):..lll ~WI Article ( 47): : (t V) o.ll.
Company's term, or prematurely ~I.th _,I·~ _,I ~y!JI The Ordinary General Meeting is valid L:.iWI .;,..w1 ~I .ilk.ii ufo. 'J
dissolve the Company, or modify the 6.J~I ~ J:!:!iU _,I lA..le_,.. only if attended by a number of u_,...L........ ·~ 1.:i! 'i! ~
loss percentage giving rise to the ~..>---' •11~1 --.. 1-.....:;. ~~ - ~II shareholders representing at least fifty (GWI ~0~) (%0.) u~
Company's compulsory dissolution or . ~ y!JI ~ L...l) _,I lu4) percent (50 %) of the capital. If the ~I _ril_A! r--11.lJ..i , JNI >
merger. quorum is not fulfilled at the first ~-' J_,y1 t~'JI ~~YI
meeting, a second meeting is convened ~ t 41 u-1! .;_.w1 ~I o_,c...i
d. An extraordinary General Meeting 01~w1~.;,..w1~-.i within a period of thirty (30 ) days from L,J\:ill L... ~ ~I J:)L;.. ~
may decide to increase or reduce the ~~_,I 6.il,!jl.Si .Jfa the first meeting . . J_,Ylt~
Company's authorized capital. . ~ c:~I JWI Ll"l.J
Only the notice of the first meeting may t..L....:.,,..)'I
t)I i _,c..lJ4 • li.'.iS'J I j-"H-'
If the Company's losses amount to ~ ~y!JI .)~ ~ lj) be served if it specifies a date for the t~'JI .le_,..~
.l.l:o. lj) J_,)11
one-half (1/2) of the issued capital, the ~ ...,......_,~I JWI Ll"l.J second meeting. The second meeting is ~ u-'illl t4'JI ~-' u-'illl
Board of Directors shall convene an 6_,c..i u-1! .J.l~ 01 i).i)'I ~ deemed valid no matter how many shares ·~~lf'+""Yl..l..lC..JIS41
extraordinary General Meeting to ~ ._,-i ).all) .;_.w1 ~I are represented therein. The General ."L....WI ~I ..:..1)->-9 ~-'
decide whether the Company will be . lA)~) _,i ~y!JI Meeting's resolutions are passed by an ~ ("f-"YI Lil.l..JI L# Y4
dissolved or continue to exist. absolute majority of the shares ·tl.4'JI
represented at the meeting.
Any amendment of the Company's rLJa.l ~~I.SI~ 'J_,
By-laws becomes effective only if L....WI ~I -Uil-'41 'J) ~y!JI Article (48 ): : (tA) i.it..
______ __.aoapJ?rovedby the General Autl}Qo,.y.bll-Lv.L.--------'--""""-----t-----...•e._extraouii11ary-Genera1-Meeting ~~bcli""-~d"""~--------
Investment. authorized to amend the Company's By- L- 6ll:.I->" ~ ~y!JI l"LJ;.; ~
laws, subject to · the following :~
Article ( 49 ) : : (t ~) a.ll. considerations:
Subject to the provisions governing ~~11.S.:..Yl•~I - . . I" .>" e:-a
ordinary General Meetings, the following ~I~ I.SY.:. ~WI .;,..w1 a. The shareholders' obligations may not ..:..L-.1 ~I •..lL......U j~ 'J- I
provisions apply to the extraordinary :~-YI rt.S.:..YI ~WI.)#.. .;,..w1 be increased and any resolution by the J_>-J JS )U.4 ~-' ,~t....JI
General Meeting: General Meeting affecting the 0~ .;_.w1 ~1 0.o ~
principal rights of the shareholders as ~ c.i~ V"t....JI ~ o-
I. An extraordinary General Meeting is ~WI y,t. .;_.w1 ~I ~ - ' Partners, is deemed null and void . · ~lA~~l~L...YI
convened by the Board of Directors or • 0).i)'I cJ"-4.... 6_,c..i uk .. 4 .IS_;~
on requisition of a number of 1.:i) 6 ~.ill ~ _;. ~I > s
 shareholders representing ten percent ~L....JI 04 .l.lC. ..ill:i 9! '"="'16
Article 50: :(o•)oJL.. (I 0%) at least of the Company's JL-JI u-1.; U-- % ' . .:.;~
The General Meeting may address only ..,-J ~_,1.l..11 ~WI ~ j..)'H 'i capital for serious reasons provided ..b~J ~..l.;i. Y4---Y JiYI ~
the matters on the agenda. The General J~ ~ 4y...ll Jjt.........ll y,i;. that such shareholders deposit their ~~I ..:,i_,,.11..hll t .)~ )
Meeting, however, may discuss such .0 1""1' II ,jfo. ..ill:i ~ s , Jl..c. )'I shares with the Company's principal ~~I ~i _,i ~y:.11 .)Sy
serious matters as may be revealed ..;JI o y,hi.11 ~u _,!I .) ~ _,1..1...ll ~ office or at an accredited bank and .i..._.i. ~ j»: 'i .J . o~I
during the meeting. ·tl..J.;o.'jl ... tt.l~ that such shares may be withdrawn ~I u-<>w.i.i) .A! 'i ! r'*'"'\j1
only after the General Meeting ~I o_JC.l/ ~I ~ r1 lj)J
Subject to the provisions of the law on ..:.is~ u;iL.J r~l •t.:.ly ~J closing. If the Board fails to convene ..JLS ylhll ~Ji.:j ..>- ~ ~
joint-stock companies, partnerships f+-"'Y4 ~_,:;JI ..:.is_,.:._, ~t.........ll the meeting within one (I) month ..r---.II ~ .•. IL. I .ll;, ·I · ... ILWJ
>" • ..J ~
limited by shares, and limited liability o.l~I ~;....JI ulj ..:..isy:.11_, from the date of making such ..rI >'-'
.. ~II .)LW....)IJ
...,,- . ~WI ~ :; •. · - 'I
companies hereinbefore referred to, and r~I_, '"1\1;;111 ~y_, 9! .;L..Lll requisition, the meeting may be . •_,c.lll ~-;,
the executive regulations thereof, and the >yt......lt ..:..l)_;ill ufo, rl.Ji.jj' 1~ convened by the General Authority for
provrsions hereof, the resolutions ~ ....._jl... ....._WI ~I 04 Investment if applicants so request.
adopted by the General Meeting are cY,faL...... I _,;L-...S ... 1 _,... ~t.........ll
binding on all shareholders regardless of oLA .o.......,ii w..)l---- t.S~I tl..J.;o.'il 2. An extraordinary General Meeting is 4..-.WI ~I t W.,..1 ,:;fo, 'i -Y
their presence or absence in such meeting , ~_,I~~ _,I wl)_;ill valid only if attended by shareholders 1:i) Y! I ,,, o ~.)WI ~
or opposition to such resolutions, and the wlJ_r-l ¥i:i o).l'jl ~ .)c.J representing at least fifty percent .....a......._. ..Jfo"":! ..:i_,.....i...... ·~
Board of Directors shall implement the .~Wl~I (50%) of the capital. If this quorum is ~ t:i~. JiYI .)c. JWI ;.)'Ii.;
General Meeting's resolutions. not satisfied at the first meeting. a t~'il ._,.i ~J\11 ~I _;ii~
notice is served for a second meeting u---3! ~I o_,c.l ~J j_,)11
Article 51 : : ( o I) oJL.. to be held within thirty (30) days from ~I .J)b. ~ ..J~ t W.,..)
The names of the shareholders present, 0---" 0.!faL,,JI ... t..............l ~ the date of the first meeting. The , J_,Ylt~~\:>ll t..~
whether in person or by proxy, are y ~ (.)"'~ ~.) ~t.........ll second meeting is deemed valid if ,2, o ~r.ll t4'il fa.J
recorded in the shareholders' attendance _,i "---!L-Y4 uis lj! i, s rA .)_,..:.:..:.. attended by shareholders representing ~L........JI U--- .l.le • ~ lj)
register. This register must be signed by ~I.lo/ J.s ~I I~ tiY-J ,;;.JtS_,!4 at least one-fourth (1/4) of the ca ital. .Js'°)'I WI ~--J:i,...i..~~~~~-t-
the Auditor and the vote counters prior to ~I y U--- J_..S U---- W.,..'i I
~~~~~~1he-mee· . ..:.ii_,...,. I ~L;o._, ..:..4~1 3. The extraordinary General Meeting's .;,__.w1 ~' ..:..1_;1_.) ~ -v
resolutions are issued by a 2-third r+---'YI ..)L ~4 ~WI y,i;-
Every shareholder attending the General t~1 ~ rA1....w ~ ufo..J majority vote of the shareholders uL.S lj) 'i! tl..J.;o.'il ._;~I
Meeting is entitled to discuss the topics ~U..~ ~I ~WI ~I attending or represented in the meeting, _,I JWI U"l .J o.lyy ~ ) _;ill
on the agenda, and question the members J~ ~ 4y...ll wU:._,.:a_,..11 but, if the resolution concerns .)~I ~ ~y:.11 J... _,I ~
of the Board and the auditors in ~ ~\...:ac.l yl~I_, , Jl..c.YI increasing or reducing the Company's _,I ~YI u-<>_;--o..ll ~ _,I
connection therewith. . 4-)~ ..:..41.....:JI ~l.>"J o).l'jl capital, or the premature dissolution of )_;.-jjl ~ ..b~ ' ~l...l!
the Company. or the modification of its ~4 ~,:;I Jl~YI .~ ._;
Such questions must be submitted in µ L...ifo... ~YI ~ ..bfo._, original object, or its merger, the .._,j Lt.....11 f+""YI t4) ~
wntmg by registered mail or by ..,-Jc. r41 ~ ~WI ~I .lll..l! resolution is valid only if issued by a 3-
·tW.,..'il
acknowledged personal delivery to the ~~~~I o).l) .:J.y ._,.i Js'°)'I fourth majority of the shareholders
attending or represented in the meeting.
 representatives of the administrative ~L..;.J v-i_,.ilill JU,..ll JI ~_;l:i'/I Corr sny's principal office at least three
authorities or the legal representative of ~ ~ L.S ..:..l.l.i.JI ~ (3) day.. before the General Meeting is
the Debenture Holders Association; a L.WI ~Iul..!.il.l... ~ ~IJ convened.
comprehensive summary of all t~'il u~ L... JSJ
~L..iji
deliberations and proceedings during the ~I •. . _i ~I ~ ~II ..:.I .J.rJ
~ I .:11 The Board of Directors shall reply to the ~I ......--Jc. •)~)'I ~ ~-'
meeting; the resolutions adopted; the JI~ w&SIJ ~I ul~YI .l.le.J shareholders' questions and inquiries I.SUI yill; ~l;l~IJ ..);!-oAl....JI
number of "Yes" and "No" votes; and u_,....L......11 ~ L. JSJ ~~ insofar as the Company's interest or JI ~~I~ U:..~'i
such matters as the shareholders may . y.a.,....JI i) ...:i~) public interest is not affected. If a l.Si.J Jj)J, .J_;-...;..ll ~WI W-...ll
request to enter into the minutes. shareholder finds that a reply is u-l! ~! .....ats y,t. .l.)1 ul rAt.....J'
insufficient, he/she may seek a ruling LAI).) l.J~J • ~WI ~I
The minutes of the General Meeting are .< J""?ll u~W.,.I fa~ i:.u.l'.iJ from the General Meeting and the .~1...,..,.1J
regularly registered in a special book ~JSyic.~~~WI decision of the General Meeting is
after each meeting, and both the minutes ~I c.s1c- ~ JH U"'~ J,..... ._..i binding.
and the minute book are signed by the ~I ~iJ.i.....J.;..ll ~.JJ;.....llJ
Chairman of the meeting, the Secretary, . ..::..[;L...:..11 ...,..SlyoJ ..:..1~':{1 t.....L,.J Voting in the General Meeting is L...WI ~I ._..i ..::_y_,._:JI ufa.J
the vote counters, and the Auditor. A ~ .J---.o • .)~ Jt...) ~J conducted in such manner as may be ~.) '
-.>'I:!...,....-
1. - •• ~II '"-i., .,.)-'~
.Ln .

copy of the General Meeting's minutes ..:.~I u-l) ~WI ~I t4) proposed by the Chairman and approved , ~I~ <JilYJt4'il
must be sent to the competent ~ ~ J::A,:.;.. ~I ~).l)'I by the General Meeting. Voting must be Li:!fa. ~_,._:.11 ufa. ui ~J
administrative bodies within a maximum . lA.lli..l) ~.Jl:i ..:.>- _;,s\'1 conducted by poll if the resolution is y~\.; ~ ).}JI ulS lj) ~..>'-'
of one ( 1) month from the date at which related to the election or dismissal of the Ji ~Y-1 JI i).l)'I ~ .,w..:.i
the meeting is convened. members of the Board of Directors or to 1:i) _,I , ~ ~_,:.....JI i.SJC.l ~~
bringing a claim of civil liability against JI i) .l)'I LJ"---4.... ~ .J .!lli yl1
Article 53: : ("T') oJL. them or if the Chairman of the Board or ~ ~ 0:f"Al-.Jl 04 .l.lC.
Without prejudice to the rights ofa bona ~~I~~ J::A.:.;..)'1 f'.le. ~ at least one-tenth (I /I 0) of the members' c.s1c- t W.,. 'i I i) s faWI ..:.I~':{ I
fide third party, any resolution by the c:i-- ~ J) JS ::IJ..1.; ~'~I votes present at the meeting so request. . Js":{I
General Meeting contrary to the f'L...5.:a.Y ~ ..__.WI ~I
•~ eJ' 1, •'~. e'J j~-
provi~o~ of the law~o:r~t~h:e~C:o:m~p~an~y~·s~---~.2~:~~·1~f't~:·~·J~l~u~·y~~~·~1---~--~T~h~e~~~~~~~~~~~~
------ttBy--iawriS""de-emed'"ntJt may not participate in a vote on a ..:..1)~ c.s1c- ..::_y_,._:.ll i) ~lfo)'I
resolution by the General Meeting that c'+:"I J.J ~ u~ ._..i ~WI ~I
Any resolution passed to the advantage or ~).)JS~j~~J determines their salaries and "~!J ~ "IY.! JI ~J
detriment of a certain class of shareholders J I v.:--
· . .....a.L-....JI V"
. ~~-It-!
• c..- remuneration, or discharges them from . •).l)'I ~ ~,,.......
or to the benefit of the members ofthe U"'~ ~ ":-41 JI ~ )~ liability, or holds them harmless against
Board or third parties without taking the ("'.,»-J:. Ji a).l)'I ~ ~~':{ managerial responsibility.
Company's interest into account may also . ~~I W-...l .J4Jc.) UJ.l
be deemed null and void. Article 52: : ("') i.lL. [ '
Minutes are made to evidence: the ..::..L,U) ~ t~I ~ J~
In this case, avoidance may be requested oi......A._.j~l~1)j~'JJ shareholders' attendance; the fulfillment ~L.j.j'JI yL-; ~1.fJJ J,..;-ll
only by those shareholders who opposed l~.Jic.l ~I u_,....t.....JI 'J) .u...!I of meeting quorum; the presence of the ..:.\+-?JI ~ .J.,..:- ..:..t.;.l ~J
the · resolution as recorded in the JI ~ ~ .) ) .}JI c.s1c-
 The Incorporators, by way of exception, ' 0_,_....... y.11 0.!C ~ L.... .. 1.tU...1 J meeting's minutes or failed to attend for ~JJ ;,,,)ld-1~~1
appointed Mr. the first 41 _,.. • . .. .. .. . .. . . .. . .. . I .)U..,.y I an acceptable reason. The competent ,) ~I ~l.i'jl ~J, Jy,i.
Auditor for the Company. . ~y:JJ JJI administrative authority may act on 1.l) ~I ..,..___.u. ~ ~ y_,;:i
behalf of the above-said shareholders and · ~ Y4""4 I~
The Auditor is responsible for the uL....l~I ~ d- yil_;JI J(......J demand that such resolution be avoided
correctness of the information contained c)....&. '.::i.pJ ~ y, •y,fa .) o.l) _,II if serious reasons are given.
in his report in his capacity as an agent of ~L...... ~J ' .).!AAl.......JI t_,...,,....
all the shareholders. Each shareholder Joi~ ) ~WI ~I .lie .. t.;ji A judgment that a certain resolution is Jt........;.c.l ~4 ~I ~ ..,..Ufa.J
may during the General Meeting question L....c. ~ ~ )J yil _,..JI y,fa null and void has the effect as if such ~ ~! ~ .:fa. e.J ,)s f;il'
the Auditor's report and request . ~ .l.;J resolution did not exist as far as all the o).i'jl~~J· ~l.......JI
clarification of its contents. shareholders are concerned. The Board ~~~~I~_;.!.;
shall publish a summary of the judgment LA.p....a i}J ~~I <....h.....JI t.S.l:..)
PART7 ~ ....411 of nullity in a daily newspaper and in the ~I ...SJC-.l ..bi...;J . u\Sy:.11
Fiscal Year, Inventory, J~ - '-.sy!Ji ~ Companies Gazette. A lawsuit for a , ) .)11 .;J.i..a ~.;U U.o ~ ~
Closing Account, Reserves, and Jl...ll u-ii J - crw..ll ...,.i..-.n judgment of nullity must be initiated .....UJ (.5_,_c..i.11 e}.; ~ ..,..Ufa.'J.J
Profits Distribution C,4)Jl~-~~I before the lapse of one (I) year from the .~~I_,..!.:; rJ L.. J.)11 ~
date such resolution is issued, but filing
Article 55: : (oo) oJL.. the lawsuit does not stop the enforcement
The Company's fiscal year commences JJI 0- ~~~WI ~I i.i,i:; of the resolution unless the court so rules.
on the Ist of January and ends on the ~ o- ~ .,., .; ~J Y-Wa
31st of December of each year. However, ~ ~JYI ~I c.:.ii .)c., ~ PART6 u-iJl..Jl ...,.l,J\
the first fiscal year covers· the period ~l:; ~.;U 0- l.i,i:; ~I o.l.JI THE AUDITOR ~...,..il.JAc)
from the date of the incorporation of the ~l().o~.,., uh~y:.11
Company to and inclusive of the 3151 of .9t.J1 Article 54 : : ( o t) oJL.o
December of the subsequent year. Subject to the provisions of Articles ~! ' · r u.- .ii _,.JI c>~i •~I_,.. e;:-
( 103) through (109) of the law on joint- ......_.L.......JI ..:.ts~ 0_,;Li u.- '· '\
-----~A:;rt~i~c~le:._:5~6~:~-::--::::-:----"".:--:-:-----:---:----;---~~---t~--~took-eompanies, patt11erstfl'J'S'"fmuted0-y-._,
.........~--...-J-r+""~~;...c;-.~--~;11:tr1...;..:.:-;\S..,..->"
The Board of Directors shall prepare J,.......S d- ~) •.;l.i';I ~ ~ shares, and limited liability companies "-:!I! .;l..!..JI •.iJ.l:l..411 ~~ :..1.l
each fiscal year, by a date appropriate to ~ ~ .ic._,...;, ~ ~ hereinbefore referred to, and the ~~ 0~ • "1i1ir.ll ~-J
convene the General Meeting within six ~ ~ ~l.....Jl ~WI ~I executive regulations thereof, the _r-il_,:u u.--- fol JI .:..Li~ yil_,..
(6) months at the most from the end of • ~~I ~.;U u.- _foYI ~~I Company, by a resolution of the General lt-;!lc. ~_,_wi .bJy!JI ~.}
the fiscal year, a balance sheet and a c~..;YI Y~J ~y:.11 ~IJ:.a Meeting, appoints and determines the ~~I~ ~JIJ.o w.Jlli.}
profit/loss account containing such ..:.1..;~1 ~ ~ ~ .)l..A.llJ remuneration ofan Auditor (or Auditors) _}.lijJ ~WI~~ 41_,..llJ
particulars as may be required by the law ......_.L-.JI ..:.\Sy!. u.Jlli.; •.i.;1.,11 qualified in accordance with the ·"-!WI
on joint-stock companies, partnerships u\Sy!JIJ r+--"Y4 ~_,;JI ..:.tsy.:.J provisions of the law concerning
limited by shares and limited Liability yl ..;l..!..JI •.i~I ~_,;.....JI ..:.1.l Accounting and Auditing Profession
Companies hereinbefore referred to and ...,..- ;11 ~ ~ J , ~I-- <G,.,j'JJ Practice .
the executive regulations thereof, and by L...4b ~ ~WI ~I IA~
 pro rata according the amounts paid the General Authority for Investment in .u.__...J H • r-9.J 0.,,;~1 r~'I
on the shares, but, if the profits of a accordance with law No. 230 of 1989. . ''I A'I I
certain year are not sufficient to
distribute such dividend, it may not be The Board shall also prepare a report on •~.fa .lly .) ~j ~I .)c J t
recuperated from the profits of the
subsequent years.
the Company's activities during the
ended fiscal year and the Company's
WWI
~I
A.l...11
?'~
J.)li.. 4-Sy!JI .l.t.:.; ~
._; u-lWI IA .fi.JA o- J I
financial position at the end of that year. . ~I~
4. After the foregoing deductions, a ~~L....-1.o.!~_,-t
percentage part of the profits ranging ~\ .l.~ ~WI ~I t...u.U Article 57: : (oV) iJL.
from a minimum of five (5%) percent %1. j~ ~, (%0) ~Ji; The net profits of the Company are 4_,.;..-...... ~l.....:JI ~y!JI c.4) tj_,;
to a maximum often percent (10%) is ~ oU\5.J (~WI c} >~) distributed annually after deducting all ..:L...i_,~l~~.l......lo.!
then allocated as remuneration for the . 6)J'/I general expenses and other costs as : .).!L..S !.SY., 'JI ~\.s=.JI s ~_,_II
Board of Directors. follows:

5. The remaining profits are then either ~lb .lo.! c.4}il ()A ~411 tj~ -o 1. An amount equivalent to five percent %0 ..s}~ t--4- tt.l.:.i4 I~_,
distributed to the shareholders as ~~) ~ ~l.....JI .)c. (5%) of the profits is deducted at first ~ J;'JI ,)c. (.UWI ._; ~)
additional dividends, or carried u--1c .. ~ J:,.J:! _,i C.4.J~I c} to form a legal reserve and ceases to , ~~-;y1 .J--:!_,s::J c~)i1
forward to the subsequent year, or ~I ,),1 o)J'/I ~c.1.fo.1 be deducted when the reserve reaches 1:i._.. u.._i-' j~_, ._..;_,;Lill
allocated to form a special reserve or a J:!-i:. ..).i;.o..1 ~ 0fo _,i ~1 a total of fifty percent (50%) ofthe t~ H ~ t L.1.Js')'I
special depreciation fund as the Board J:!-i:. ~I JL-. _,I .sJ~ Company's issued capital. If the %0 . .sjl~ l_;J---i ~~)'I
of Directors may determine. ·.SJ~ reserve falls below the above-said Jt.. r..>"i.J ()A (.UWI c} 0_,......;.)
percentage, deduction is resumed. ~ .,;..._,, ..J.i..o..ll 4-Sy!JI
..s--3) o.>>-'31 ~ ~~)'I
. t l.l.:is')' I

Article 59:
Dividends are paid to the shareholders at
such place and time as may be
determined by the Board of Directors
within no more than one (I) month from
the date of the resolution of the General
Meeting approving such distribution.
3. An amount equivalent to five percent
(5%) is, then, deducted and distributed
as a first dividend to the shareholders
 Board of Directors. at lease one (I) ~WI :i 2""'?'1! .lti.U) ~ o).l'/I
month before convening the next General PARTS u.oWI ":1411
Meeting, and the Board of Directors shall
~ ~J
.,...--! clfa'/1
•JiYI ~ ~~WI
I~ C::J~.:) ~I DISPUTES .:.I&.jl.,;.J c) I
place such proposal on the agenda of the . ~I JL.c.i JJ~ ~
General Meeting. Article 60: : ('.) oJL..
No resolution by the General Meeting ..J---o ~ )->9 ..,.1 u-k ~fa. 'i
PART9 t-""u.Jl -...4JI may give rise to the extinguishment of a ..S>--L.l ..b _,i.-.. ~WI ~I
DISSOLUTION claim under civil liability against the ~ ~w.c.i ~~I ~;.........ll
~J '-.sy.SJJ ~ c)
AND LIQUIDATION members of the Board of Directors in ~~.,,:JI ~~YI ~ o).i'/I
respect of faults committed by them in J._..,..ill .JLS 1:i.1J , ~ ¥.u .)
Article 62: : (H) o.lL.. the course of performing their duties. If u---1:- <.iaJ--C ~ ~ _,i....Jl '-:-1-")oo _,.JI
The Company is dissolved before the , JL..JI ;yl.; LI.-; -.J~ ~Lo.. ._,.i the act giving rise to a claim under civil ~ cJ---o y,..fo.! ~WI ~I
expiry of its term if it sustains a loss of lj) 'i) 4-4-i ~l...:a.i.J) J,.i .i.S~I j,.:; liability is reported to the General bi .1; -:..4~1 ...,...91 .» JI • )J'/I
one half of its capital unless otherwise ~.lWI ..»-' ;...w1 ~I w_;.;i Meeting by the Board of Directors or the ~.)~ 0-- -'..>.... ~ .s _,.:.J.11 .~
decided by an extraordinary General • ..!11.J W)l;. Auditor, then such claim extinguishes L-.WI ~I .;1_>-...l .;J.l-.....J:.
Meeting of the shareholders. after one (I) year from the date of the .o.;i.l'/I ~ y,..fa ~ -'.iJl....o...J4
General Meeting's resolution approving
Article 63: : ("1 r) oJL.. the Board of Directors' report.
Subject to the provisions of the Jaw on -:..ts~ .:i_,;LJ l"LS.:..i ;;~1->" ~
joint-stock companies, partnerships ~YI., ~_,::JI wlSY.:.J wl.....JI However, if the act attributed to the
limited by shares, and limited liability oJ~I ~_,L...11 ..:..,lj ..:...lS~IJ members of the Board of Directors
companies hereinbefore referred to and ~, :i2\2;·,-,i1 ~'iJ ~!) ..:...JI constitutes a felony or misdemeanor, the
the executive regulations thereof, the ~J foi Ji~ ~WI ~I civil claim extinguishes only when the
General Meeting shall appoint from ~ ->- ~1 ~ ufi.H <"f"!wi public prosecution case is canceled.
among the shareholders or partners or . 1"4..>#- Ji ~tsfil JI 0.!--Al.....JI
third parties one or more liquidators and Article 61 : : (" oJL..
shall determine his or their remuneration. "tho.ut.-pr~diee-to-the-rights-ohll ~~ . II"~~
______ .:=.::.=::.=~_:::__:::::::~~--------------11----;shhaareholders decided by law, no action ~ J J.r-:H 'i , LJ _,;li o _;_ri.JI
Where a judgment dissolving or avoiding .i.S~I ~ ~ J~ ~Lo.. .)J affecting the public or common interests ~WI w.-...ll __.....:; .,,:JI ..:...~ jl.WI
the Company is issued, the court ~_).~1~.~JI of the Company may be brought against ~ .l.........O .i.S~ .i.Sfo....11 J
indicates the method of dissolution and ~ J~ <.-.II .•
U;!'U
L..S ~I.. the Board of Directors or any of the t.>- J.....-S.I JI .lo..lJ ~ JI o)J'/I
appoints the liquidator and determines r.li..'1 ~I J..c ~ 'iJ ·"-!WI Board's members except where it is 0.!--AL........!I t~ i--4 'i) .UW.C.i
his remuneration. The liquidator's JI ,•d ."jj) .;l+----!o! JI ~ts _;.--.!JI initiated in the name of the entire . ~WI ~I 0-- )..) ~J
employment does not cease by the death, CJL....S _,!J ~ ~~ JI l"4 .;L...c.! shareholders and pursuant to a resolution
bankruptcy, insolvency, or interdiction of . ~U-0~ of the General Meeting.
partners even if the liquidator is
appointed by the partners. Whoever among the shareholders wants u.- t'Jl •.;I:.) .lJ..Y.1'41........ ~ >J
to file such a case shall so notify the ~ ~ ~ ul J!.iill l.l.
 ,

Article 66: : ("") o->L.. The mandate of the Board of Directors ~ o).l'JI ~ .i..11.S_, ..,+WJ
Unless otherwise provided herein, the wL....JI -:.I.Sy:. uyli c"~l ..sY.:, shall cease upon the appointment of the L-.WI ~I~ L.I ,~1
provisions of Law No. 159 of 1981 ul.Sy!.11_, r+'"'Y4 ~_,::JI -=..tsy:._, liquidators. However, the General ul vl! ~1 o.l.4 Jl,L ~u ~
concerning the joint-stock companies, o_rlL.....li O.lJ~I ~,:......JIul:i Meeting shall continue to enjoy its .~I •¥ <-)U.) ~
partnerships limited by shares, and 1 'I A 1 .u__..J 1 o 'I rJ .J i.)yL...il4 powers during the whole period of
limited liability companies; and of i.JyL...il4 .J-lL....-ll .Jl.Z.,,'JI i..Jyli_, liquidation until the liquidators are
Investment Law No. 230 of 1989 and the ~'J., ''IA'\~ Yr. r..i.J discharged
executive regulations thereof apply to LJ4-i ••..L~ ~ .ly, ~ \...,/! ~1-,1i;-.u
these By-laws. . c"Ll:.JI I~~ val:i.. PART IO
LEGAL ADVISER
Article 67: : ('\ V) o.L
These By-laws shaJI be deposited and .i.Jylill \.i,J. foJ l"Ll:.JI I~ f:.ly, Article 64: : (it) o.ll..
published in accordance with the law. Subject to the provisions of Article 60 of iJ-o 1 • oJL.JI c"L.S.:..I o~ly t;.o
law No. 17 of 1983, the Board of ~, 1 'IA\" .u...l 1V ~.J i.JyUll
Directors shall hire a lawyer, qualified at ~\ t;.o .19~ j o ).l'JI ~ ._,Jc.
least to plead before the courts of appeal, r5~ l"L..i ~_,,.a..JI ~6...JI
to act as the Company's Legal Advisor in I~ J-ll ,Js°'JI ~ uU:U...'JI
accordance with the terms and conditions •.i....JI s .1:. _,y!.14 ~m s .;.sy!Jl 4l _,;u
agreed upon. When the Legal Advisor's . .l-.ic. ~ I.·'- . '•
"I.. l~I J ' ~~~ ~II
employment contract expires, the Board ~ u---1d, ~yUll .J~I
of Directors shall either renew the oy,-i:. JI~! _,I·~ l..) o).l'JI
contract or substitute the Legal Adviser. . .lia.ll .. l+J.;! .J-'9

The Incorporators have by way of ..:,,,_.......,;.JI~~.,:,... c.U:U...!J

exception appointed Mr. . . . . . . . . . . . . . . . . . . .. • / :iu__y1
of , •................... ~~1

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~f-~~~~~~;::~~~-:!''a~Advi.seHln~
Board of Directors is convened and ~!J o)J'/I ~
_, t~!
.J -~
exercises its responsibilities. . 0L:J1 I~ ~ ......... ~!

PART 11
FINAL PROVISIONS

Article 65: : (io) i.L

The expenses and fees paid for the ~ _,9.l.JI yWYI J ~.Jt..-...11 ~
formation of the Company are charged to y~ L>'" .;.s y!.11 ~I.:; ~ ~
the general expenses account. . ~WI ul..i Jy.-11
 I
l
I

~l;JI .:., ":LI

.;;.I a IT m n'Ig lifijL:i.;II
a;;.L:ili~IJmi ~·; (M;aa;, He1n·fn'I
 .
~~t~ol..!..i..~~-1
Registration Application
For a Private-Sector Establishment

- Area ~
- Office ~
- Date ~.;WI
- Establishment's ol.!.WI ~I
Name
- Insurance No. of J_,'.>-.JI y,.l..Jl ~l::JI ri.Jl
managing director
- No. of principal oL!.Wl ~.)I jSyJI r!.J
office
- Legal status
- Character of
business
- Date activity
started
- Code of the
beginning of activity

- Com./industrial
registered No.
- Tax card No. ~~I .Ulh,JI rS.J
-Tel. No. 0~1 rS.J
- Address c.Jlfa.11
- Bldg. No. .;I.WI r!.J
- Precinct\village ~.) ~~
~~~~~~--Dis· )Sy/~
- Province wh...
- Officer's signature ....ti;_,..JI (:} _;.
- Signed and sealed. . ~., ~.,
 tt,

and place of birth, nationality, and o.l)4. ~ J 6!J'U J ........

extent of authority to sign for the ...;~<.S.l...J~J EXTRACT
Company and manage its business. . ~_,;JIJ o}.l'fl OF COMMERCIAL RECORD
e Director of the principal ) ~)I t.)ll y,.i... yi!J r--1 ·-"
office or the general agency Ministry of Supply and Internal Trade ~l.lll :;J4-::JI_, .y.._,..:ill o}j,
~yJI J'-"" ~J,,.....,.. ~ ~WI ill _,JI
in A.R.E. ( if the registered Commercial Registration Administration <.SJ4-=>JI ~I ~
ulS t:i)) ~J o.l)4. ~J t:iJ'UJ
office is outside Egypt): General Dept. of Commercial Registry <.SJ4-::JI ~~WI o)J'fl
. ( CJWI ._.; .U_;.!..U rWI jSyJI
Name, title, date and place of ........... Commercial Register Office, <.SJ~~~
........ tl;Jh..
birth, and nationality. .............. Province

4) a Character of business oJ~I tY 1) a Application No. e 1..y'fl ri.)

b Company's object 4-$~1 ~l:; ..;... u:-_jJt b Application date t 1..y'fl t::'.J'U
c Commercial registered No. ..s.;4-::JI ~I ._..i ¥JI ~ J
5) a Date business started in ~~I .iJL.c.l ..>!'\lit ....,S 1..1.! ..s:iil 6!Jllll ..y.lJU]l ...,..u, ti~ ~J
2 Renewal application No.
A.R.E. ~yJI J'-"" ~J~ b Date renewal application ~1...,..U,~t:i).=.
filed
2 Date of license to operate
c Date of Renewal
b Starting and expiration dates t:iJ'uJ ~t.:ut t::J/uJ .u~1 ·'~' t::J.;'U 2) A I Merchant's name
of the company; date of ~.Wt,.. JI oJ4"::JI UJl.J.-! ~_;;JI
2 Trademark
license to operate; or of the j....:Z.....'il
3 Name under which the
approval of the Investment
merchant practices his trade
Authority

c Date branch or agency B I Company's form

opened 2 Company's name
3 Company's trademark
6) a Address of the principal place
of business. 3) a Merchant's name, surname, date o.l)4. ~J t::'.J'UJ "-!i!J ..>!'WI (""I .I
and place of birth, and ·~J

b Address of the Company's .U_;.!..ll rWI jSyJI ulfa nationality.

general partners m . generaj or ~,.. L. - .•.11 Ji .~

--------------------i=-----~re:g~is:t:er:e:d~o~ffi:1;ce~.;:---c;;-""tl;;-~:;ji":l::]-;-:;;-~:::::;~::::;;~~~----~;--~------------...Jb!?,._iN~a~m~e~s~~~~~~~~~~~~~~~~~~~
- egrs ere No. of the ._.;) rW jSyJI _,1 ~)\ ~1 ¥ ~J
principal place of business or
of the registered office ( if the
branch is registered )
7) a Addresses of the branches
and agencies affiliated to the
principal place of business or
of the registered office.
b Address of the branch or of
the agency (if the branch or
the agency is registered)
·~l....AJI wlS ..r~ c.s-; ~-
. ·~l....AJt...
•<?
limited partnerships; dates · ~J ........ J$J .l).,;.JI ~J t:i}:,_,
( t.)lt ¥ Uh and places of their birth, and
the nationality of each partner
c Partners or other members ..b,,WI rAJ#. _,\ .IS~l ylillJ ~1.....I -c
authorized to manage and sign ~)'.ill J.. .-.J ..;..._, .up1 •).l) ~
J,....JJ ~WI wYIS_,JI_, tJ.)ll U:!Jt:.c. for the partnership: Name,
rWI jSyJI JI ~)I
~.,,t::'..fa-' ........ JS u-, ~!-!
surname, capacity, date and o.;IJ'fl ...; ~ <.S.l...J ~J o.i)4.
place of birth, nationality, extent
.~_,;JI_,
of authority to manage and sign
for the company.
t.)ll .l;i Uh._.;) ill_,JI JI t.)ll t.Jlfa
d Members of the Board and the ...,.4.- .w..:.I ylill_, ~1.......1 .. .)
( ill_,JI _,I wl-ll ..:.IS~..,.; >).l'ft
managing directors in joint-stock
companies: name, title, capacity, date JS .......,, 0'~ i.ru.,,_,
 tfA

8) a Authorized agents
13) Notes: :..:.~
a Judgments and orders _?..-.JI e;ftfo. oyt...ll ul_;l_;JIJ r~~I .I b Director of the branch or of ~ J!> ._,.i}J ,......1) :iJl.S_,11 ,1 t.;ill ~
imposing or lifting CF .::i.s}I J t.l.ill ~ JI fi"WI ._.lr. the agency ( name, title, date (~J·~~Jt::' ...}:.J
attachments; appointing or . y,....,..11 e}..>! _,I r+1
Ja-1 JI ~I and place of birth, and
dismissing guardians or nationality)
trustees.
9) a Capital invested in the ~I._..; ~I JWI L>'\.) _;l.li..
b Bankruptcy-related principal place of business, ..J ~WI uYl.S}IJ tJ.;illJ fi"lill ~.)I
judgments or orders. the branches, and agencies

c Rehabilitation judgments b Capital ~y!)I JL. L>'I.) _;l.li..

I. Paid-up capital ..:... OIJ }JI tJl+JI . \
d Judgments of divorce or of -'Jfo. JI ~ >y\.....JI r~~I .J 2. Capital on call ~IJ4 .l.S_,!11 ~.;;JI tJl+JI . .,.
(physical or financial) ; yt...ll .::.I _;1.;ill J ~I JI ~L....;JI 3. Limited partners' part LJ:..c_,.JI .l.S_,!11 ~ _;i.li.. .I"
separation; decisions issued _,\ ..:.~ _,\ .J4->"'l4 fi"t.ll 0·:;·11 .U..:.); 4. Capital in property (if (.::.~Ju.1)~1~1t..s.t
to permit the merchant to . ..:... .b.ll
any)
conduct business, or to cancel
or limit such permission. c Debit balance owed by the
branch to the registered
e Judgments concerning: r~l.J office.
• partners or directors ! 0:!.J:!.i.ll Jjc JI .l.S_,!11 J.-; •
removal; 10 a Shops owned by the merchant
• company dissolution or previously:
invalidation; I. in the same area .,..:;s..JI ~oylJ._..;. I
• liquidators appointment 2. outside the area <.Sy;.\ ..,_..'15.. • y\J ...... .,.
or removal.
b Shops owned by merchant at
f Information on the sale or JI <.S.J~I ~I ~ -'.il.:WI UU41)1 . j present:
mortgage of the commercial ' , t • :i..l..J ' ' ,.. .) ,jylill li,J, .u..) I. in the same area ~l~~IJ._..;.l
shop pursuant to Law 11 of 2. outside the area i.sy>.1 yJ\S.. •.YIJ ._..; . .,.
1940
- Name of applicant: :...,_JUJI I
egistered No.:
:._..i '.):!-""" a Trademarks.
- Fees ( ) paid against receipt No on I I ~ ~>'"! ( .... ) U._,.liJ r_,....;11 UJ.>..
I I t::'..fo. ···· ri.J b Patents reg. No. tlfoYI ul•IJ! .y
- Signed by Registrar : J,..-11 e:ft.;;
c Industrial drawings & forms ~u...111::~WJIJ r_,....;11 .__,,..
- Seal: Commercial Registration Administration (i.J~I J?....11 ~ :~I

12 a. Financial arrangements on ._.lr. (::IJjll ~ i.s~I .)WI r~I .I

the basis of which the .\......a:d..
merchant's marriage has been
concluded.

b Commercial capacity

c Agreements to dissolve or ~J JI ~y!JI ~~.lie J!> .__,,..

liquidate the Company. ~I~
 ~~l'-i~-f o..;4-JJI ~JI~~~ o.llf..!. _,.
Tax Card License to Operate
Page (1) :(1)~1~1
Date license issued : . .. · .. · .... : ~.;.JI .JJ.l..A '&.Ju
Ministry of Finance ~WI o)jJ Name of licensee: . .. .. :..bt..:ull 4JJI J....! ~ ~_>JI /"""I
Taxes Administration ...,.Ul_y.:..11 ~ ID No.: .. .. : t/r.J. ~~I ~.J
Issued from : . .. : .» •y~
Serial No.: . .. :J...J....... rS.J Legal status of establishment: .. . : o L:....lJ _,..;_,;till JS,.!JI
Issued on: . . : ).l..A')I '&.Ju Place of business to be licensed: .. .ll ..;---..JI .;--.A.JI Jj ~I .jl ,_..;c.
......................... :~_;,
Tax Dept.: . ............................. : ...,.UI fa ~.J_,..l...
Name of the owner of the Premises: . . ; .Jl.WI .!lit.. /"""I
Address: .. .. . . .. .. . .. .. .. .. .. .. .. .. .. .. : ~1,,__.ic Invested Capital : . .. :~I JWI ...>"j.J
Company's Name : . . : ~y!JI /"""I Character of licensed business : . · : ~ ~_>JI ..bt..:uJI t _,.;
File No.: . .. .. .. .. .. .. .. .. .. .. .. . .. .. . . : UWI rS.J The Giza Chamber of Commerce hereby o~I .;J;.;~ "-:!fa..:JI 4..i~I ~
Character of activity: . ..................... : ~ )1 ..bl...!J.!1 t _,.; certifies that Mr. .. is w ~_;,.ii :~1.J~
Address of principal office: .. .. : ~)I jS_;JI 1)_,lc. licensed to conduct business in O.ll_ ...JI l"lh 'J ~ o J4":.JI 4JJI J....!
accordance with the provisions of Article \ 'I V '\ ti_..J r f .j_,.ilill ..:,.. ~\:JI
Address of branches: . .. . .. .. .. .. .. . .. . .. . .. .. .. .. . : t J.)11 .jl _,le.
(3) of Law No 34 of 1976 concerning ~ .. ~ ..;.J4":.JI ~I .j~ ~
commercial registration upon the .. .. .. .. . .. . .. (::!.J~ !".ii.JI -.,...llJI
N.B.: ~ applicant's request submitted on •.>l---iJ ~y_ll ("-'"'J .ll~J
Bodies described in Article ( 129) ,.,.'I o.lL..Jl~~1..:...~1~~
................... Fees ( L.E ) paid ~.)~~~ .
of Law No. 157 of 1981 may not J..l___..Ull \ 'I A \ ~ \ o V rS.J ijylill l)A against receipt No on .. . .•..... (::!.J~ .....•...
deal with the tax-payer unless tax- oi....A u---1:- :::I...:.~ i.JlS 1.ll Y) J_,.....JI t-"
payer shows this card and the date )..,>-J")I ~ (::!.JL....:i ~ u;,J .U~I This License has been issued upon the ~ ~~~.;.JI l.l.\ C~ .iiJ
of submitting the preceding year • A..;.. _?.I lF- u+.!_y.:..11 applicant's request and the documents, Lit.,;.-JI ..:..l~I J_,....J -.,...lhll
tax return is entered herein. copies of which are attached thereto, ..,......J) ~ ..illlJ ~;-,. ~J
. ' .. .. .. .. . .. .. . ...SJ . I ..,.US...
submitted only to the . ..,--J ~ )1 w~I .» o y,t:. u.>J
Commercial Registration Office within ~ 4..i~IJ , ~Ju..:,.. ~ ~
Legal status o~ u-'ylill i.J~I one month from its date. The Chamber is ...SJ~ ~ .l~J 'J~ ~ .-.i;-,.
Social security No. ~~YI w4-obll ~J not liable if the premises is commercially J;._.JI ..,..i-.A. J ' ~ > >
Expiry date ~4..>"" o.l..o .. ~! '&Ju registered as this should be verified by c.l~) ~ ..illl LJ.o ~I I.SJ~
Company's name ~)·~·:JI C"""'il the concerned commercial register office. ~~Jl~~l<.J!J· ~I
ID ( family/personal) No. J./t .U~I ~J Alteration invalidates. . ~'i .fa...! ~.;.JI 1.l. wU~
Issued from I.A Ji....) -&.Ju J ~ Made by: . .. . .. .. .. .. .. .. . : ~ ftl .J...P-"
On Revised by: . . : ~ 1'1_,;JI
Residence Chairman: . .. . . . ... . . . . .. . .. : .ij .)-All u4>.)
3- Signature of inventory reviser & ~..;~I ~t.:;.J ~I ~lys ~_;., -r
official state seal : Period of exemption (if any) ~ J 0) ..bw.ill <-lie )'I o.M
Page(5&6): : (i & o) ~ From: .
.. ········ : j.o
To .
·················· : .)!
Tax Returns ~ ..:..;1.)-/1 Revised by : . ............. :~1~~1_,...~_;.,
Department Head
and Patrimonial Declaration tJ.;JI .;l)!J ~..;.,,..WI~..;~_;,
Signed and sealed
~JtiJ
- Year ~I -
Page (3):
- Date return submitted ) ..;t'°';I c":!.ijj ~):. - :(!')~
- Commercial profits ~..)4-J c:4) - - Character of business
..bl..:..ll tY
- Professions .;.... - - Date business started ..bl..:..11 ~Jlj.. ~I~ ~..;w -
- General income i-U:. ~..) - - Reg. No. at the Commercial ~liill Jj l.5 ..;4-::JI ~4 ~I ~..) -
- Date patrimonial declaration submitted oJJ.11 )..;i) ~~..;w- Register or at the syndicate
- Reviser's signature and official state ~..;~I ~J ~lyJI ~_;., - - Tax department ...,..;1~1 ~..;_,..L.. i'"""! -
seal
Signature of reviser and official ._......,_)I ~WIJ ~lyJI ~_;.,
Change of Details ·u..n .)Hl-J..
\..I ••
state seal

Date ~j..::Jl- Page (4):

:(f}~I
New Details· ·~1 ..:..Li4,Jl -
Signature and official state seal ~..;~I ~L:;.J ~~I -
Real estates and cultivated lands J,.-11 ~,µ! LJ.:Ja'ilJ ..:.l.;lM.ll
owned by tax-payer at the date ~[l~l&;u~
Instructions to Tax-payer J_,....JI ..:.I JW..;! this card is issued

I. This card is issued upon an r~ ...,..U. ~ .. ~ ~U.:>ll .~ ..;.i....:.J-' I-Buildings and vacant lands .,l....4i)I ~l)JIJ ~I ..:.l).WI _,
application submitted to the (~_,.._....; ~ ~I ~..;_,..WI .)! - Premises address ..;I.WI ul Y... -
concerned tax department on a • _,w J ~I ~..,,......,. ._,i_;.,-. <->""I.:;. - Tax-payer's part in the premises J_,.....Jl~-
s cial form dul stam d b 0
- Date ofo ·
~..J -
15-piaster stamp. - Rental value ~..;~'jl~I-
- Local Tax Department ~ ~I ~..;I.WI yjl ~I ~..;_,..l.. -
2. This card should be submitted to w4'"J ~_,..WI "Jl..h,JI .~ ~ ~ -Y
the appropriate tax department to )>-9) JI c.r.Y~I )..;t";I ~ ~..;w 2-Cultivated lands ~l..;jll .Jyl..)11 -Y
enter in it the date at which the ..:.,L...;~I ~ .>J:!.:i ..!.~ ~ JI • JJ.11 -Area ~t.....JI -
tax return or the patrimonial .~11~..:..l.;J'J - Location e;-i _,.JI -
declaration is submitted or, if a - Date of ownership ..ill..::Jl~..;w-
change occurs in the details, to - Rental value ~..;~'/1~1-
enter such change. - Tax Department ~..;I.WI ._,..;1 ~I ~..;_,..l..
- Transfer of real estates and lands titles w~YIJ ..:.!).WI ._,i ~I Ji; -
 •.oo - lS .r-•.I\ v-
"""' 1.~ ~~
.--- J ••
v!.~
<". UJ....ill ..::..1.l.U....JIJ ~-·~.I\7 : C! 1)1 ~I
.

~.iWI ~_,...Jl ~It~! ~ -o

.,_,... ·~ ·~l ~y!J 3- Tax-payer. may not obtain more ~ Y! . 1 a'J ,) J,_11 j.J'H 'J -r
( o.lJ~ 4.,........ .:.1j ~~) than one tax card no matter .J~ w..l.i.'.i kp •~1_, ~y.:.:. AJ~
Minutes of the Regular General Meeting whether he practices various t_,.;-ill _,i ~I _,I ~.J4:JI ~i
of A.B.C. Company commercial or professional ..!L.l.l . :, fo_, ~)'1 • .:i. ~ y:.~ .;;JI
(Limited Liability Company) acuviues or he practices such . ~)I j5.;-JI ~.J,..L.. LJ.<o
activities in several branches. The
On this the day y ••• I I ~1_,.JI r» ~ ....i) tax card can be obtained only
of , 2000 at I 0.30 am. the L-.:..4- ~IJ oY:,WI ~l....JI l'W ~J from the local tax department
regular Meeting of A.B.C. ~ ..r--:J ~..lWI L...WI ~I U..lW) where the principal office exists.
Company (Limited Liability ~ .;---.!.) .
Company) was held at the ~~I ~ ..~n:iJ ( o..l_,~ ~~ ..:..1.:i 4- This card must be handed over
Company's head office at .. ·~.lll .._,.-le. ~l1!' ~ to the tax department when:
upon an invitation served by o..lL.JI ..s--1! ~..r--:JI ~ LJ.<1 ~_,.JI a. the date of its term expires. or ~4->'"' o.l.o ~ t+.U! . l
registered mail by the Company's ~ J JWI ~_,..J ~WI ~I J ~\S y!JI b. if the tax-payer completely • .1.L..!U.11 • Y:.4-o ~ ~ ...;.sjJ .lJc. • ....,...

Chairman to the Partners. the ..!L...ll J ~~I ...:A;~ yil .)A J w\Sy!JI ceases to practice his activity.
General Capital Market Authority, .~l.l;!~
Companies' Department and the
Company's Auditor.
0 M
The meeting was attended by · · ..:,,~ ~isy:. t4YI ~ ..liJ
Partners representing 100%ofthe . JWI ;yi.J~u-l4! LJ.<o
Company's total capital stock.

The meeting was presided over by .. /~1 t4'!1 u-ly

Mr. . the Chairman of . ~y!JI o)..l) ~ ~.J

the Board of Directors.

Mr. .. was appointed .y.Jl ~i I .lt...YI Ji&-

a secretary of the meeting.

Mr and Mr. . .. /.lt._,.,,)'1 ..:,,.- J_._S Jic.

were appointed vote counters and ~'J-', ..:..1~i lj).i /.lt...)11_,
their appointment was approved by -~.)~I
the attendants.

The attendance list showed that the .J~I ~ ..:,,i .J~I W'J LJ.<o ~
 tov

~~ i)J! ~ t~' ~-'I

Minutes of Directors' Meeting attendants represented 100 % of the U"'J~~) u,.% '·· Jwj
total capital stock of I 000 shares ~~_,,~\ ••• W4JIJWI
A.B.C. Company • (S""' • er. . ~ : .i.S y:. and, thus. the meeting was deemed . t;.; _,;Li t t..-4'11
(Limited Liability Company) (>J_,A.A ~A~ ..:..1~ "-Sy!.)
valid.

On this 2nd day of November,

1996 at 10.00 o'clock am, the
>~WI
~
~L.JI ._)_, \ o, o, i/1 \ /Y ~_;~
.i..S_r-..:.]I o .).~~
IJI ·· I. . • .I ~L..w:,
I
I
Having deliberated on the topics on
the agenda, the regular General
~Li.._, ~YI J~..) j_,1.u11 ~-'
: ul:iL.. ~WI '"+e_,......ll ~I ..:.._;.)
Board of Directors convened at the
Company's head office in Cairo
~_;
~
u·
o_,c.J ~
_;~
.. l.i./ •..>"WI.) l.Afi.r
.i..S_r-..:JI o)J.1 ~ I Meeting
resolutions:
took the following

upon the invitation of the Chairman 1,..11 ~ ~_, L-.Qc)'I

of the Board of Directors. The J_,1~ .i.i_, ._;wJJ t.;,...I /~1 Resolution (1) : : JJ'il .;I .).Jl
meeting was attended by all ~I.WI~-' JL.c.'Jrl J~ ._) j_,....:.,....JI The regular General Meeting has +.-JI JF-J ~WI '"+e_,......ll ~I wJ.)
members. Mr was : .)WI ..i,.... _,II ) _;ill _;.l..a decided to appoint Eng , l~l~ /~1
elected to act as a secretary of the a new director in the Company's <.,-&-I.I..~ .. l.i./ o)J)'I ~ ~ "-S~4
meeting. The attendants discussed Board of Directors upon the request J-.+l.u s ...,.ulJI cs1=- .uiil _,..s o_;IJ)' I ~
the topics on the agenda and took of the Board of Directors and . .ill.ll Iii-' .i.S ~I rU;..; o- ( ' ' ) oJWI
the following sole resolution : subject to his acceptance. The
General Meeting also decided to
Sole Resolution amend the Company's Statutes
accordingly.
The Board of Directors has decided ~_,....JI ~I o_,c.J o)J)'I ~ _;.)
to call for a regular General ~y I'\'\ i/1 I/' r r» .i.Sy:.li ~JWI The resolution was adopted unanimously. · t4)'4 )_;ill ii..:;I
Meeting on 13 November, 1996 to •.L.JI ~-', o)J)'I ~ ~ ~ ~
elect a new member of the Board of . ..ill.ll ~ "-S~I rU;..; u,. (' 1) Resolution (2)°: :~ .;l.).Jl
Directors and amend Article (11) of The regular General Meeting has •.LJI ~~WI '"+e_,......ll ~I .:...J.)
the Company's Statutes accordingly. decided to amend Article (l I) of :c.r"'il ~ ~ "-S~I l'Ur..; u,. {' ')
-=-~~-=-...--~~~~-:-:-7.':"'"-:-::::-:-:-::--~-t~~~~~~~--~lk}w-s.~~~__.;___.~~......;:.~..t-.-..-...-.
-------i'ttc"Teso1uti~ animous y. . t 4)'4)_;ill ~I
Article (11) as amended : =~ ~ {' ') oJL..
As no other matters were to be r--lJ,
Ii....... "~I J>"I 0-- ~ ~ w_, •• The Company's affairs are ~I ~ 0.J.J:!.l.o .i..S~I •_;IJ) i)~ •
discussed. the present minutes have "-..:i_}::ti ~ J~I 1)-o e:;i.J.J , _,...;-.JI managed by Directors to be U,. •_;IJ)'I ~ ~ f' .i.i_, , ~WI ~WI
been executed and signed by the .We. appointed by the regular General : oJL...ll
attendants after reading it out. Meeting. The following Board of
Directors has been appointed:
Secretary: . . : yJI ~j
Chairman: . ...................... :~I cA_; Name: . ........................................ :{"-"'YI
Nationality: . .. :~I
 t O'\ ..:..ol5 •.11 '-~ -~ · .<,. w.u..11 ..:..ol...u......11 -'lj.11 : 1)1 ~I
..r- v- ......., ~r-: ' "' .r t! .

later than 5 p.m. on Wednesday, ~...>!! 'I' t iJ..-Jl_,.JI ~~)ii o~ p .la.! I'\'\ o J.l_,__.. ~._>..!J c;.J--i.....ll .>'~I-V
April 24, 1996 at the following ...... : ~tlll ,)_,:..JI .)c ''I 'Ii i"~ ~~I ~ (S_,1..J\ t~~l
address: ...... MoDo Year-end Report 1995
Annual General Meeting
Notification may also be made by . 4-i.#J _;l. b.)'I j~J
telephone. MoDo in brief: , .. • .. • • . • • • .. . • .. . • .. • • • • : 41.S_,.!JI Cf:- ii~

Shareholders whose shares are ("""!-! ~i ~1 ~WI .)c ~J Skr million ~I

registered in a nominee name ~t.-.....4 L.:li _;.. ~i I fa.-! ) ~ Y' (IS~ ~.J.>i w,,1..34)
- Sales: .. .................................... : w~I -
should temporarily register their ~\i"~....:i:ili:...lc._,...~ ..s.ll
shares in their own name with . r-t-l ~ ._iJ:-. \ '\ '\ i Ju1! \ 'I i.}91 _,.JI - Profit after net y-il.w:. ~ ~.)1 -
to be entitled to vote at the Annual ~ ._s_,;-11 t~';il ~~_,...A.JI financial items: . .............................. : ~\ :i _,.;.ill

General Meeting. . ~_,_II - Net profit after tax: . .. : : ~y..411 ~ C"!.)1 y-iL.w:. -
- Return on equity.%: .. . : o/o ~L.......JI iJ_,h .)c ..ijWI -
Agenda:
- Earnings per share, -Al_,JI ~1 ..iji ~ -

t4';il ~..J ...,.A.~:.u) -\ kronor: . .. .. .. .. .. .. .. .. .. . . .. .. .. .. .. . . . : _;_,; J.fil4

1 . Election of Chairman of Meeting
2. Approval of voting list ~_,.Aili Wli .)c ~\_,.JI -'I' - Dividend, kronor: . ........................... : ..J_,; J.fil4 ~JI -
3. Election of adjusters to approve t4Y1 ~ :i~Y ..).!ii_,.. ....,.,~1 -r - Debt/equity ~I <Y.-!~1-
the minutes ratio: . .. : ~Wl ~..thJ
4. Resolution concerning the ~\ :iL.i...j'jl-! ~L....:i.JI ) _>-ill - f
-Capital expenditure: . '.. .. .. .. .. .. .. .. .. . : 9t.&..l ..J ..:,t.;Jy..:u -
proper convening of the Meeting. t4:::U

5. Presentation of annual report and ~WI u _,.!.S.11J ..s _,;.JI y,pl H~ - o The Annual General Meeting of L,i..._,...JI-' J•·:-ll lS_,;..JI t4YI ~
consolidated financial statements, lJ..-.&.. w4~1 ~I y y,_fo J ' o-A _,.JI MoDo will be held at Grand Hotel ~ ~_,. ~'-» ~ u-i J:i_,... ~y:J
report of the auditors on the annual o.A _,.JI 4w1 .....;_,.!.S.11J ..s _,;...11 y,.fil Stockolm, at 4 p.m on Monday, i"~ ~ ~ ~I JI ~l...Jl y-i t1_,.s_,:;..I
report and the consolidated . ~Ji 04 . . ,. ,~ ~ w.1 t"" April 29, 1996. . I'\ 'Ii i"~ J.!y) Y 'I i.}91_,.JI ~YI
-------4m·anciat-matement~ogether-'Wit,tt----------------+---------------------------------
an address by the president. Participation in Annual General .4 •• q'I <S_,L....JI t~~I c) ~.fa!.)'1
Meeting: : ~_,...JI
6. Questions arising out of the
above reports, Shareholders who wish to take part ~ u~.Y- ~1 ~L.....JI .,L&..i ~
in the Annual General Meeting 4..,..lJ lS_,;-11 t~';il y-i ~1~)71
7. Resolution concerning the cLi}JI w4L-....:.. ..i~4 V""~ ).) -v shall be entered in the register of (.)W ..l;,_,a-11 ~L....Jt ~ y-i ~_,_JI
adoption of the Company's ~WI ...:..L..,i.;1.»JlJ o.A_,.JI .)L...:....llJ shareholders deposited with .. ~lf'~~li:.~_,...y-i .
consolidated profit and loss . o-A _,.JI no later than Friday, April 19, 1996 ~-'\'\'Ii i"l.....J:. ~y) ''\ i.}91_,.JI
accounts and balance sheets. and shall notify the Company no L......WI ~L..JI j_,~y ~y:.11 .le._,..~
 8. Resolution concerning the ~_>--..:.ll ...:.1.:.1~ .U.~ 04L:.. J) -A
kronor to 50 kronor. The date of treatment of the Company's u--i .:.)_, _,. L. y....:.. ~. o> .11 y,t..
0

record for the share split will be unappropriated earnings as . ;,~1 "-..WI ~lj:.JI
Thursday, May 30 1996, provided stated in the adopted balance
that the necessary registration of sheet.
the amendment to the Company's
Articles has been completed by that 9. Resolution concerning the ~ .. ~i .,lie! 04~ ).) -'\
date. discharge of the members of the . ~_,;.....JI u-- ~.)I_, •):.'JI
Board and the President from
The Board also proposes that the ti........ ~ t...a,il •):.'JI ~ c..fou laibility.
priority rights to new issued shares ~~;,~I~ ~YI 1.5_,h
should be regulated in the ~L...YI ?LJ.::.ill ~ r+""YI ..:...l):....:.J..! l 0. Resolution concerning the
Company's Articles of Association 0- (')~I' (1") J.-ill ~ ~y!J} number of members and deputy
in accorance with chapter (3), . l.5.l:!_,....11 ..:...tS~I L.Jyl.9 members of the Board to be
section ( l) of the Swedish elected by the Meeting.
Companies Act.
11. Determination of Board fees ~1->"J o_;l:.)'1 ~ ;,litS.. .l.;!.l:>..'.i -1'
Proposal: : ci.;
LJ:!Lll ~L.....JI LJ-4 1).b.) ~~I ..:.it
•'l and auditors' fees
Shareholders who together
represent some 70 per cent of the u-L.:.WI ~ v , u-11>---""' t...... 0~ 12. Election of Board
votes in the Company have advised l':!..l......1; UY'~ ~~ ~~I ~ ..:...1_,.....y1
the Company that they intend to l.5_,L....JI t~'/I ._.J) ~Ull ..:..~lfa"il 13. Resolution concerning the ~ly ~y!. ~ 04~ ).) -n·
submit the following proposals to .~_,_JI~ appointment. of an audit ...,..1_,_.....;_, ..:it.;~ ~ly _,J ..:...L;L....:..
the Annual General Meeting: Company or. auditors and . ?f-!L:..:.;)_,

Item 10: : ,. ~ deputies, and election thereof.

Seven members and no deputy. . yly 0J.l!J .. ~i ~ 14. Board pro sal to amend
section 4 m the Company's
Item 11:
that the Board fee remain L..S ~ u.Jol! o).:.'jl ~
: "~Jl:.J
;,\jtS...
Articles of Association.

unchanged at 900.000 kronor to be
divided by the Board among those
members elected by the AGM who
are not employed by the Company.
Auditors' remuneration shall be
paid on the basis .of invoices
received.
~1 ~ ~ (...>.YJ.fi '\ •• , ••• ) c.s4 Proposal of the Board for the ~ J-..:i..:U •.;1#1 ~ c1Jii!
...,.._,_JI ~I LJ-4 ~I .. 1...AcYI ~ amendment of S. (4) of the : '-5.,,.!JJ ~'ii r-llilll ()- ( t)
. ~~I yj4. LJ-4 ~I y,t. ~_,;.JI Company's Articles of Association.
(.)"L...I ~ ..:...41. ....~.11 ~ly ol.91.S... c::!:.J The Board proposes a 2:1 share r , .. 11 ~-···~H):.'jl ~ c:fo.
. ~! ~ ~1 y,Jl_,ill
split, whereby the par value of the ~ ~ ~ ~ • ':Y ~
shares will be altered from 100 ° • ~! ...>YJ.ft. i . • LJ-4 ~'11 i"f""'YI
 o.;IJ'/I ~ ..>Jfa -A Item 12 : : \ T J.i.iJI
,, ,o ~ WI ~ ~~ .bl..i!.j ~ The following members are ,......_.1$) rA)t.....l ._;,'JI ~w.c.\11 ~ clfa)
Directors' Report on the Company's Activity proposed (all for re-election): . : (~! -.:.1&.';
During The Fiscal Year 1995
Item 13:
Amoun Pharmaceutical Industries ......................... Firm, authorised public ..J>!--""L:..... • ~~
Company, S.A.E. accountants. · 0~ 0.»">"'
C.R. No. : 255215 '\'OO'\' 10 : ,j.; ..S)-~:i J?......
Issued at : Cairo •J"lill : ~ly..:;....) ..;IS.. Divident: : C,4.;°'I ~
Authorized Capital : 150 million . f' ·C:: ..;_,,µ.. \ o • : "-! ~.;-JI JWI '->"i .J The Board of Directors has propsed ~c4) ~e:"•J.)'11 ~cfo!
LE that a dividend of 17 kronor per o-~ c fa) w; . ~1.,11 ~ .;.i' J.fi ' v
Paid-up Capital : 40 million LE share be paid. The Board has also I~_,... \ '\ '\ i .'-!L.. r ~l_,...11 ~I
proposed Friday, May 3, 1996 as ~WI ~till_, ~L........JI ~
Shareholders ; the record date for the register of ........... -s.ll u._µ1 -~! ' ~A
shareholders and the special list of ~CJ.A c4)11 ~ e;LJ.fJ tiji.JI 0--J
The Board of Directors of your .);!pl ~.)L!µ~·).)! ~-....i~ pledgees, etc. maintained by . \ '\'\ i .'-!L.. \ • ~l_,.Jl ~Ir~ ...•...
company has the honour to present ~WI ~I (..F- .)WI jS.;-JI ..!lbSJ .)tJI Provided that the Annual General J i ~ YI J?.,.... ~ ~·· ..•. : .n V"" l.i....!.YI i.s-t~
. U""'
the foJlowing report and the 41_»..ll tJ~ ~\.l.. f' .,UJ \ '\'\O Meeting resolves in accordanc with 0i .1~ ~I :..:._,....) ...._W ~Lill
financial position for the financial ~.;,;..JI f \ ~.J >):.'jl u-4-- ~ this proposal, the dividend is ·clfa~I 1.:i. ~_,.i...JI ~_,...JI ~I fa
.. 1.lSJ \...:.ill.. r'- w; - 1 '\ '\ i/f/1 '\
year 1995. The draft budget was .L.......6.... expected to be distributed by .........
discussed at the two sessions held ~.;_;...!I f'\' r---i .J o ):.'/I v------4-o on Friday. May I 0, 1996 to persons
by the company's Directors No 41 \ '\'\ v-r- listed in the register of shareholders
and 42 on 19 April, 1996 and 20 or the special list on the record
May, 1996 respectively. date.

I- Production and Sales : Shareholders are required to inform ~fo ~I ~It~) ~L....JI i)c

~~-#re-~=¥~~~r;r3iJ"t::li;;:t::::;-;::lr,J'7.i::;:JT"---}----th~e~ir~;ac~cfo~u;nt;;;~o~e~r~at~o;r~;tl....JWl)'.....-J!.l./=fll~~,.w.~~~~~~:::::-
______ T......,he.,__.fiu.o!Jowi-ng-table-sh1 . _ ~ J . changes of name or address. . -:,,1.,;..JI
production value plus cost and ..;_,,µLi ~I »-« ..:.~I ~J ~4
sales value at factory prices in LE : ' '\ '\ 0 /°' '\' ..::..1 _,.i...JI ~ <.S .)'-4A ~ THE BOARD OF DIRECTORS
millions during the years 1992/95:
year:............................................ . :~I

production value plus cost:........... .. : ~ c::l'..J'/1 ~

growth percentage:......................... .. : _,.JI :;_,...u
sales value at factory price: . ................ :~l~u~I~
growth percentage: . . : _,.JI :;_,...u
 Year: . . . . . . . . . . . . . . . . . . . . . .. . .. . . . . . . . . . . . . . . . . . . . . . .
Shareholders' rights in LE million: .....
. .. .. .. . . .. . .. .. .. .. .. .. .. .. .. . .. . . . :
. ...... :(~ ..:i.,µ4) ..)!.oAL......JI
.:i..;..JI

J.,t.:..
I II- Quality and Reliability : : ~Jo.l~-Y

Profitability in LE million: . .. :~.)I As quality is a basic goal of the ~ ;i.S~ c.s""t.....l ~

•..i_»11 uY 1 _>h;
Percentage : : . ................................... :~I company at all stages of .i.......JlS i..S~ u--k-J ~1..iYI J.,.1->" ~
performance and levels of activities ~l+l]I ~4 J~_,JI U..lf.:! ~J ~I
Though the production and ~_,__.ull_, ~L'.U)'I ~\s..ll .J# rC.JJ to achieve the highest quality of the ~_,.ii u~ 04 :i....~ 0 .J~ ..i»4
marketing cost are on the increase uL..WI .Jt.a..__...i t LLi .J! ~ I final product for our customers
o..il;!jl4 _;JI J_,.ill _,i y...a... Li.iL ...sY...,... .)c ~1_,....
as a result of the increasing prices Y) .)~"ilJ u_>-11 _}......IJ wl..y::.......JI_,
of raw materials, accessories, rL...:ill lt--1jll) .lie. -::..IIjl.. µ ~ ;; .;l..i) j
I both inside and outside Egypt ; and -~.);!~I~

exchange rates, and wages, the ~ U.........>""J 'O..lfe.]IJ o~l.i.S.ll wl..~ JS.!
company's management is still ~1_,.JI ul_)..l.i ..lJ.l:r. ~ l.l'.l~ jfo)
keen to completely observe the ._r:JI wl__..4--.JI ~ .b..:..)L.J1 ..:ro ..,.;l Y.1
principles of efficiency and quality. ._)I ~.)I~ u.J_,.h:; .iiiµ~~
I As maintaining quality requires
that your company should make
itself completely avail of all fields
of quality systems to meet all the
04 ~
wY~
o..i _»11 ~ WL:.....JI uY l_;h; J
LllS 04 :i....t.ll >..il..i:i...)'I
.1_,~ rl.1.; wl,J.h:'... ~~
µ~
>..i_»11 ~I
..i.......ii ~j ~ J ' JJ-lll ~lSI ~I
The Company is also keen that the . ..)!.oAL......JI J.,t.:.. requirements of exportation to all ~ ~~i )y...:>)J ~ l.l'.lS~ w......
prices of its products should be countries, our company has ~ji-......'.J o..l~I L.J;.;j y,_,.}:.j (J~
within the people's means. It is diligently and persistently sought to µ~ c..:k..:i.....) ..i5 J ~"ii 01' w4J,.b:i..
noted, however, that as a result of develop its quality systems to meet J_,l 0_,_s:; u~ •)..i.;.. ~ ..11 04 ~fa.
the Company's policies the these requirements. Thanks to God, •..i~ u--1c ~ ~ ~_,.ii ~~
percentage of profitability in your company has been the first J..-J...>1l ~ IS0-9001 L.,;..JWI o..i_»11
proportion to shareholders' rights is Egyptian pharmaceutical company .);!..ii:iJ ol~ w.l:r..11 l-4J ..;ts .lil_, ' \ '\ '\,
on the increase . to obtain the international quality U _,.l.14 LJ:!l ;.....JI o..il...JI 04 J..lS

I
~
certificate IS0-900 I in April, 1996. i..S _;--..-.JI .,.1 _,.l.11 t L.bS i..S y....... u-1c- J :i....U:.
IV- Labor force and its This achievement has been highly -~~~
development: appreciated by the state's officials
in general and at the level of the
The Company's labor force on 31 , '\ '\ o/, .,. ;n ~ ~ y:.i4 ~1.-.!1 I"""'"°" ~ Egyptian pharmaceuticals sector in
Dec , I 995 was 970 employees 4~47·i ,,.]! I·•..;Jo;.I 11,,1·• t1._,. ':I .le (' v ·) partjcn lar
U
with the annual total wages u~ •y!.c.) ~ 0_,,.i.. ' •• n t •.J..l.iJ
amounting 10,394 million LE ( ten ~' ~ - (~•. ........,·.tj U_,.._.J
. • Juy.J•J
- I ....;~_,
- ., '"'' III- Profitability :
million, three hundred and ninety- . ~fo..lll ~I
four thousand pounds) representing If profitability is the result of >.,.1.i.S.JJ ~tu 04 4.;.; c.sA ~.)I ...:.ulS Jj)
their book value. efficiency and quality at all the J_,.l......;>i.11 uJ.........9 ;i.S~1 A..h.:ul ~ts.i •..i_,.;>JI_,
Company's activities, the following J_,_h ~) ~.)I y__,.bJ y, c)tJI e...a
V- Book Value: table shows that the percentage of .~L......JI
prufitability in proportion to
The present value of the lands -L..S_,t....11 ~ · I Y""' ~I . ~I
- -.
_).llJ shareholders' rights is progressing.
 ~~ ~I.>" Y..JA. _., owned by the company is LE 7.750
" ~l " 4JIJ.lll ..::..~~ u.,,..i ~.;-!. ~ ~) ~ .J>-'1-- v. v 0 • ~ y!.ll
million ( seven million, seven .....i.._jj ..J~ ~Lu..,._.J
~Jo'A" wi....... ~.;-!. hundred and fifty thousand pounds)
~Li. (~
..JY.....J ~L.........:. J ..J>-'1--) ~
J

..J>-'1-- ' • '\ 1•

Auditors' Report against a book value of LE 1.960 ·~fa.i.11 ~I ~ ( ~ Uli
Amoun Pharmaceutical Industries Company ( APIC ) million ( one million. nine hundred
Joint-Stock Company and sixty thousand pounds ).

Submitted To: In pursuance of Articles ( 192) and ..:r-.. ( \ '\ r 1 \ '\ r ) s ..iL...JI ~L..S..:r.'J l4i.b:i J
( 193) of the executive regulation of ~ \ o '\ ~ .J .j_,iL...ill 4..:¥uJI ~)\JI
We reviewed the balance sheet of 31 ull:.~ .:;_,..i ~_,...:.~I_):!.. 41.>61 lW law No 159 of 1991, the Board of I.ii, ~~w~o)..i)'I ~..Jµ \'\'\\
Dec.. 1995 of Amoun - L:!~ ~L..... ~_,...:. ·~j· ~IJ.lll Directors has the honour to present ~I UC- ~y!JI ~I_):!.. "'-1 w..>" Y..foll
Pharmaceutical Industries company ( tj__.J , o '\ r-i .J 0_,;w1 r-lS..::>.'J raJ .~ this report together with the lLlJ \'\'\o/1r;r1 ~~I "-:!)WI
APIC ). S.A.E.. a joint stock 1:i__sJ ''\ '\ o ~ n is9 o.la....11 ''\A' Company's balance sheet of the _)l...QJIJ (4.J)'IJ 'i>fet...JIJ ~I -.s-:'~
company organized in accordance cL--u'il- •feL.WIJ ~I -.s-:'~ financial year ending on 31 _,-JI\ '\'\o .):!~ JJ) ~I ofoll .fa
with the provisions of law No 159 of __,,_.i ~I ~I 0--C _)L........;.JIJ December. 1995; the operating and ~ J-:a..r...Jl .!L..JjJ \ '\~o ~..ii"\
1981 ); the operating and trading ..:..1.u:.__......J _J.Li:i ~ \ '\'\o/\ Y/n trading account ; and the profit and . ~y!J.l ~WI ~I
account; and the profit and loss L....iiJ ·~ ~l..h. ..:..~JJ ~y!JI ~J
account for the year ending on 31 L....j'i LA~l.J _;JI ..:..~~)'IJ ..:..L._,l.....ll loss account for the period from the
Dec., 1995 and we have found that first of January. 1995 till 31
~I ..:..1.J~)'IJ ~l~I tfa>l.;--i:.Y December. 1995 to be reviewed by
they are in conformity with the
~~1 0µ ~1J _;.u.ll1 ~ LA~Yl'-i the company's general meeting.
company's books. documents and
J._S ~ ~ "-:!JL. ..:..4~ ~
records. According to the
<.s-""""t....'JI ~y!JI ('~J L.Jylill ~ ~L. Chairman,
information we have seen, the
explanations we have received for .~....:il,LI)<..,..iJ-?-J~ Board of Directors
the purposes of auditing, and the ...........................
tests we have conducted on the
company's books and records, it was Done on : 20 May, 1996
found out that the company keeps
regular tmanc1al accounts including
all the data stipulated by the law and
the company's articles of
incorporation.

-The company in estimating the

complete production and the
production under operation
depends on total cost lists which
serve their turns.

J
 Within the limits of the wL.. _,i..... .:.r-- U r.l-.i L...... J _,~ ~-' - Fixed assets depreciations have J,....,.Y~ ~WI uLS:l.)'1 ~.?.-i -
information and explanations ~ t:' _,.JI w~~;:u ~ s .:.,~~_, been conducted in accordance ..._; -->--"11 t:" ~ _,jll ~ li,.b ~~1
furnished to us, and in accordance ,j.-.&- Ult.- •J,.-
c..>°yU ~l_>.!..JI ..J!J U.. with the percentages conforming ~~-' ~~1 .b~ Ji..~ ...s_;~I
with the explanations signed by us, ~fl ~~~.)WI jSy.11 ~ to the commercial custom in -~WI rWlS ~~I .1....ill
the balance sheet gives a true view y~l_,c:LuYI y~ J_,, \'\'lo similar activities and by way of

Company on 31
of the real financial position of the
December,
The profit and loss account also
1995. ~ JL..c.Yl 4;uJ "1'1b O.J,....,. <..>°~
-~.J~I .!ill ~ ~1 ~1
fixed premium as in the last year.

Inventory was made by the ~~1 o)J! ~~ ..:,,_,µ1 .lfi-f'-

truly reflects the result of the works Company's management under 1.L....J:. 1_4_, , ~4 f'_,;_, WIY:,.1 ..:.:..:;J
during the year ending on that date. our supervision and the stock was ..)j~ ..;_,~I r-~1 (:: 1:;;)'1 .» j:i. e,

appraised according to its cost fab... ..,,Jc. J\...:lc )'1 f' .ill ~1 ..!!_,i.;Jl
The financial data contained in the o)J'/1 ~ y,fo. oJ),11 ~WI ..:..1..i4:Jl value except for a part of ..!!~1 ~fo ~ ~ •.i....JI J..r.-Jl
Directors' report prepared in ' o 'I ~ J ..:,,,;~1 u4\.h'W us_, •.lo.JI J complete production stored at . ~y:.14 uj~I •)J! .,r._,.li.._,

of law No.
executive
159 1981
accordance with the requirements
of
regulation
_,;.
and its J~l ~
is in .,;~
L.. (::" ....U:-...

oJ~
~"i1ii-·ll ~'J J \'I A\ ~
~y:.11 ~J .YI.hi J_;i_,
ul..i4:Jl ..:!lt l+:a:!i ~ _,jll
closed banks' stores. In
appraising this part of production
we relied on the inventory lists
conformity with the data contained -~' prepared by representatives of
in the Company's books and both the banks and the
records within the limit of the usual Company's stores department.
practices followed in recording
such data in financial books. - The balance of the medium-term ._s:Wl .»YI ..h.._,:... ;_;;:._;ill ~.J t4.1 -
loan which the Company has ~1 ~ 0- ~y:.11 ~ ~
Company's Auditors obtained from · the Egyptian t-4-- ''I 'I 1 r~ ~ ...s~l ~u.....Jl
Industrial Development Bank i~n_ _i;..,,::;;;;.,':_; .:::u-~~J-!;:J!~li.~-
;~'1,:.1 ~~\:.;A ..:..·~-:·-----.,.-~
--------------------------------~---:1: 9:9~1~~E1:&09.J~gain'St'"'ffie mortgage of lands, buildings, and 1 JI.lo.~ \ 'I 'Io
.!ill_, .::}J'il_,
~ ~I u-4JI_,

- 1995. machinery after paying the

premiums due in

.,
 - agrees that all documents
connection with the Offers for Sale
may be sent by post at your risk to
the person named in the
application form to his or her
address set out therein or such
other address as may. from time to
time. appear in the Register of
Interim Rights or the register of
members of that Water Holding
Company against the name of such
person.
- if you fail to make payment of the
second installment when due in
respect of any Share in that Water
Holding Company. you will not.
as against the Secretary of Stale
be entitled notwithstanding that
you may hold an Interim
Certificate to receive an Interim
Certificate in respect of the
Interim Rights relating to that
Share receipted as to the payment
of the second installment.
- Agree that you will accept such
shares as may be allocated to you
-------,nrac-c-ord e 1 e provisrons
described under Applications and
Dealings in Chapter V of Section
I of the Prospectus.
- agree on request promptly to
disclose in wntmg to the
Secretary of the State or his
agents any information which he
or they may request in connection
with your application.
in Li.l.:i.JI &t:. _,JI JS jt....) ._..le.~I jJ - Wher: thes~ Terms. and Conditions c>L......S.:.... YI e:"' ..b _,~1 .:i. v4 }..:. ~u. ~.J
..tl:iJ . ,_ 11.J ... 11 .
.lJ ..
are inconsistent . Wl~h the expr~ss ..u ~lyJI J:l..i.11 _,I L.. -,..lb c.l_,.u! ~y.nll
• ~ ..r-- -~. ~ J-OJY-!
( j _,.....:. ~ ~.I .Jfii..Jl ~I ._..!) terms of a_n appl1_cat10~ forn:1 or its ...s~I ulil.i:;J.J ..b_,~_, jfa. ~I .!lli u-i ~)
!+--JI~ _,i 4-il ~ ..,..--le- ...,..._J.hll accompanying guide (m~l~dmg any ~y.nll <"ts.:..\11 .:i. ..J~, (¥ ~! .Jl..!...
w ~i ..JI~ c.Si JI~ ~_,.JI other terms and cond1t1o_ns and ~.li:i ~ ..,...u. ...sY ~4 ~I l+l wfo
~~ • .?Y ~.>-•fa. agreements referred to therein
. .
) such . , -•1 ,.... ~ • c j• _,,...
. J-0 .JUUi ~
. _,,1 1 · 1_
jA ..r--
.:i.___.. ~1....<..:.I ~ _,i ...::ii_;.Jl J..,Wl express terms shall prevail in relation
..!Lb t""! ..J:!.) .~ ~Lill ~~I
to an application made on that form to
. J-4~1
the extent of the inconsistency.
By completing and delivering an 41 - ufo • ..,.ill:JI cj_,..; ~J ~~4_,
r
application form you, in relation to ·~ ~~ u-9 <"f-1 ~1yZJ ylJ.. ~ ~
each application for Shares in a w - c:i~1 .!lli u-1:- ~ ~ ~li
.h...ill ~ .l:!.i.....:; .J=- Uh:lll "-lb. ~ - Water Holding Company made on :..;'11 ...:..l..i
~ ...J\.h:-....1 ~).:. ~ <'+"" ...s 'i ._s-il.:.ll that application form:
.j~.) , .~~Lill ~~I .ill:.
.jL.S ljJ l____.c. pl ;fai.1-.tli:.. j.o - Offer to purchase from the ~ ~ _,..i.11 Y.J.J (.)A ~I _;.!JI ~ _;c. -
~ .J.e oj~ ~ -..::ii_;.. oj~ .lJ:..i.l Secretary of State at the Offer ·~I ~~ u-9 <"f-"'YI .l.lC. ...,.:.ayJI
~ _;.II .W}JI J_,b.]4 ~ ~ Price the number of Shares in ( :i _,_....; u--9 i.l..l.>..JI ~I ~Lill
.i;.i__...:;j ~4 4lJ ...s :ill ~I .!lJj that Water Holding Company !"~'.:lJ L_4b ~~I ..,.ill:JI
• ._,.jl.:.ll .h...ill specified in your application form ;,~I.>" ;:- _, '-:-'t.:iS)l 1 i y:._; u-9 i.lJ,,ll
on the terms of, and subject to the 'c:i_,_....;,11 -ill:i_, ·~ o.l)_,]I .1.J~1
conditions set out m the ..b_,~I_, <"~YI_, AJ ~l_;JI J!l.lllJ
Prospectus.. such application (~.Ju!)~~! .Jl.!..JI ...s,?YI
form. its accompanying guide and ~Lill ~ j---.!.11 .:i. (.)":!Wl:. .lie..J
H~I ~YI Jy,i u-1:- ~ljJ-
~_,...JI <"~\ii .!lJ OJ n;.i 1•
other tenns and conditions and
agreements r
··~
any) and Articles of Association
4~Wl~I~
of such Water Holding Company,
. '-:-'11'S)'I ;;y:._; ~
- agrees that all applications,
acceptances of applications and
4,t.S JWI ~ ~ ~ JSl_,J- contracts resulting therefrom
1
.l......ic.
1)
-..:.c. ....,., fa. u-o _,I "J_,..i.11 y,j_,l L
under Offers for Sale shall be
4---;.lh:i ~ uL.. _,i..... ~I ~ - ..,.ill:all governed by, and construed in
~ "'--lc. ...,., fa. u-o _,I "J_,..i.11 Y.J.J accordance with, the laws of rI
·~~ England and Wales.
 agencies. . ~.J~I ..::..)4$_;JI J ,..~ yU..S) o~ _,'
3. Manufacture and import of building wl.l....a.AJ .ll_,.. .llfa!J c;:\.J.j.1 -v ~_,...JI ~'i.Jti..l1J o.;~ ~\..µ ~~
materials and equipment. . ~ Ll.,JI o_;At,jjl/y l!l_,i.,. Jo:!~ ,., ~ ,
<f. Zoning and reclamation of lands for ~1)j1c~!,~-~
building and agricultural purposes .. . ~ 1.J)I J ~ w.,.!1 :.f<>I _j:. 'i Prospectus
Hagag General Trading and Contracting Partnership
Place of Business : : ~y!JI j.SJA (1) 26 July street, block (b), Cairo
(I) 26 July Street. block (b), Cairo -.y.UJl/y .!!-'1! ~J:! n ..P
Partnership limited by shares ~l::JI ..::.W ~ 'J Li ~ j:J "-S _;):.
Term: under incorporation in accordance with \ 'I A\ ~ \ o 'I .jyu.ll c'\.b':{ w'
The Partnership shall continue lor ten the provisions of law No. 159/1981
years from the date of registration in the
Commercial Register. Name: :~~'~!
Hagag General Trading and w 'i JLi.JI J o .;~ CL_;...:.. ;;,,S _;):.
Authorized Capital : :"-:i ~.;.JI JWI r...>"i.; Contracting Partnership ~_,....JI
The authorized capital is one million and ,,J,..~ ~ ~y-11 JL....ll __,..i.J
four hundred thousand pounds (LE · (' · t · · · · · ·) ~ ._ill ;i_j~) J Legal Status: :~yt,jJI JS,..:'JI
1.·~00.000) and the issued capital is seven ..:,,.....;...ii ~1 v · · ·: · · _;~1' Partnership limited by shares. ~ 'i4 ~ y ;;_s.,;:.
hundred thousand pounds (LE 700.000). ~ .....LJI ;;,____;~_;1 4::...~ ~
The lncorporators ' contributions In the ...:...__.,s ~ ~ ~ (t · · · · · ·) lncorporators:
Partnership's capital is four hundred ~ Jl___Ji 0,.. ~ ~>6 J-
thousand pounds (LE 400.000) including · [v e , ···)~._ill..:;~,~ a. General Partners :
non-cash assets appraised by the Capital ~1 J ~ 1.:u--••'"";..JI t.) J1 .ii' I.················································ - I

Market Authority at seventy-five thousand ~ ..J~J ..JW:.l...J Ull ..:,_,.;WJ 2 .

0:)
. _.,.
pounds (LE 75.000). The lncorporruors ~.li:JI ~YI C:!.J ~ ("'. Y
deposited a sum of eighty-one thousand. •y.Lil t.J - ~.J~YI ~ ..ill.lJ
b. Limited Partners :
1 wo hundred ;111d Ii fly pounds (LE 81.250) · s y.lill - J,ull ~ ,.;. -
I .
equivalent 10 one fourth of cash capital
. 1.11es .11 tire Bank of Alexandria. Cairn 2. ·············································· y

brunch. Kasr Al-Nil street. Cairo.

The names of the remaining limited ,;,,,;J.i..~_,.JI ~,;.JI ~L......i ~Li
Shares Offered for Subscriptions: : ~;u ~!µ,....,.'ii partners are mentioned in detail 111 "-S~I ~l:; tl.h;J .li...,> ~
Three thousand (3000) shares, of one ~YI ~ ~ wl'1 -'UX)r · · · Partnership 's Agreement and By-laws.
hundred (I 00) pounds each totalling ~L. ~I J-! (~ ..._;_Ji ~wx;)
300.000 pounds. All shares arc of nominal ~YIJ' .nl_,JI ~ (' • • ~~ Object: : A..s y.!..11 0o .J:-
value. Subscription is allowed for ~~'.::U (J.;h.. yW:.'/I J' ~! I. Construction and sale of' housing units. ·~ J ..fiL...JI J.....u.1-1
foreigners and Egyptians. · 0±!~1 J 2. Contracting, trading and commercial o .JL...;>o.:JI J ..:.,'i JLi.JI jl...c. i - Y
 ~vv
-
- r e- •.11
..;;.JU_r-
~ill=
;r-
.•
V" rjl..j ··..!..JWI ..!..>...JI
.

Control Panel : ~I .;..JI J-4.. Date of Subscription: : ...,.~1 JI~

I- . I ~w...\11 _, Subscription commences as of 18 August. n-~ j-.-A l_;L,U.c.1 ,..,..L..:US)'I i~
~- . ··················· ······ I jw..,\11 -r 1987 and continues for two months. In j~.J.Y-~;;.:i..JJ l'\1w/·'/'·'
3- ················································· case that all shares are sold. subscription ~ '-ll:...) r>4' • _r!.c. ~ ..Ji....j
.......... ·············· ... /jW...'JI -'!"
may within ten days be closed.
Auditor: : ~l,i~I y!l ..>A
The Partnership's Auditor is: . y. ,:.J\.;L....,.JI ~ly
Subscription Bank: :~_;h u:- y~I ~ ,,,.:i.i1 .!.J..i.,.]1
Bank of Alexandria. Cairo branch . _,._...aJ • >yi.lJ.11 t.;S, "-:_;J..iS.•..':i'I .!hi
Fiscal Year: :4W1W1 licensed for receiving public subscriptions r>~I ....,..,tuS)'I ~_;;JI .!.!_,.;.,JI ,y.
Partnership's fiscal year commences on ~J y,~ JJi.) 9W1 ~1. i.i.,U and registered at the Central Bank of Jj-.S.;..11 ~1 ..s.l......l ~I J
I st Jan. and ends on 31st December of · c>LL J-.S 0--- ~.:i ~1 .) Egypt. ._s~1
each year. The first fiscal year of the 41~1 i~ • .illj .Y .. ~i J
Partnership shall by way of exception f:j.;L.__.;, ~ ~~ -...--JJ)1 Sum to be paid upon subscription: :y~l ..l.ic y_,ll:u]l ~I
commence as of the date of the J ? ·11--11 .,~ One fourth of the nominal value of capital r+--\11 ~ C'.J ....,..,tuS)'I .llL::. e:!-l:!
Partnership's registration in the • -~~I ..s) ?-.11 shares (i.e. twenty-five pounds per share) ~) ~ .. re ··1
~>! ~':/1
...
Commercial Register and shall end on ti· 11 ~.; !' ·1.:i plus an issuance fee of two pounds and a ..L....:.1,11 ~ (~ ,jJ~J
31st December of the subsequent year. ·...,JI '1\1 half per share (L.E 2.5) shall he paid upon ~1 >! ):....:.'fl ~_;L...:,... ..)1 ~l..:a)'l;
subscription. The remaining sum sh al I be J_S ,jc( ~ 'I', o) ~ J ,j~

Division of Dividends : :cL,i)il &~ ~.;h paid within one year at the most from the ~Sh ..)4JI .:i~ j .)c. t<!'"
The Partnership's net profits shall be :_.._, 4_,l...-... yl....JI cl;)il tjji date of subscription opening. . ....,..,tuS)'I ..J.4 _;s\11 .)c.
distributed on an annual basis after the w ·J~I ,......,,.___~
deduction of the general expenses and ..s~YI · ' 11\.S::J!J ~~1 Subscription Unit : : y~I o~J
other costs as follows: . ._. 11 t____..s Subscription unit is five (5) shares and its ""r>d1--~.i L.......u ....,..,L.::US)'I •~ J
multiples (+jW:.L...A.o J

I. An amount equal to fifteen per cent j.--:!,s.:lJcl;.;\11 L>-4 %\o ~ -\

r
1· . - · ·tj LLU.:,.I Allotment of Shares: : f"+-""'11 ~
( 15%) of the profits shall be deducted to .L..A .J <f>' ..s- - .
JC .,,.,tuS,I ~.:iGj :JL:.. .)
form a legal reserve and such deduction t J '? • &-4 ~ t Lh:'.i)'l
issue capital shares. contributions m ~ U" J o;-,U M ~J_;h.JI
shall djsronriWJG..-i.,f+.w , _; ~ _- )'I
excess shall be distributed on the ~l....Jl ~ J"I..... i .)c. ~l....JI
reserve reaches a total or fifty per cent ~~1 JL.. L>"i.J j-.-o %o ·
(50%) or the Partnership's paid-up ~)'1 ~ ,_;,..J t~..WI
shareholders on pro-rata basis and cJL......:J .; _,....s.}1 ~ (:A '-:-'l:;,S)' I _)
fractions shall be approximated to the next .~l....JI .)~
capital. In the event that the reserve falls ·tLh'.d)'I ..,JI •.i_,.JI ~
whole number in favor of shareholders
below the above figure. deduction shall
owning less shares.
be resumed.
2. Enployces shall be entitled to a ...---J ~ ~L..ll ..J~ -'I' Management : : "-1_,.J.ll 0) J)
percentage share of up to ten per cent " 111 c ._;'11 The Managing Partner is Mr. . . /.i;...JI oj.:i'jl _,J~
(10%) of the profits to be distributed in 1d ·1jji.; ,_ _.__...,

•
 cash provided that such amount shall ...6~
not exceed the total annual wages of ..JY. YI t ~ .)c. ~..>--------: YI
the employees.
3. An amount equivalent to (I 0%) of paid-
up capital shares and contributions
shall then be distributed to Partners as
a first dividend. However. in the event
that the profits of a certain year are
insufficient for the distribution of said
dividend. such dividend shall not be
%\ • JJ.b. ~ 1~
· .l.Sy.!.]4 .j:l..Wl "-:!y....JI
~ t:1J.,;;l l"j)UI thJI ~ -r
%\ • LA..J~ c.~)11 ..J..o .)Ji
~.)-A t-~-ii..JI .:;,r:. ~l.S~
t1 1~! ....;! .)c. • c>' a a> J ~i
t:1Jfo. ~I U-- ~ c.4) ~
~ 4...,.}l.h...ll j~ )U ~I .1'
I' 0 ;2J .9\::J1 ..J:!.i-JI c.4) ..J..o

clained from the profits of subsequent ~WI .)-A %' • i'.L___JJ L.. -l"-!
years. After the foregoing deductions. ~ ~411 tJ~J .Y.Y..i..J.l •\.!~
an amount often percent (10%) of the t,__;..lAll ~ ~1.S__r!.!1 .)c. .!lb
remaining profits shall be allocated as ~ r"d0• 0 ,J ~I~ ..J..o
remuneration for the Managing ~~ J:..Y. Ji • c.4..JYI ~ ~t....:..I
Partners. The remaining profits shall ~I ~I .)! Y..i.JI clfal .)c.
then/either be distributed as an Ji ...s.lL.c _>.!i:- 4l>~! "'-! 0fo JI •
additional dividend to the Partners on .(5Jl<:. _>.!i:- .!!~I JL..
pro rata basis or shall upon the
..lic.J' ( W!Ull j ....~ill)"-:!) ..;-.::JI A..1.t...._,JIJ "'11.S_,ll J_,ic. ...,_,_,J....)'1 A LJJL:U ~J . - proposal of the Managing Partner be
·(;..>-AWi ~1) wl.Sr11 J_,ic.J (t-11)1 J.All) >~ly,ll c>1~4 ~_;JI carried forward to the subsequent year
or shall be allocated to form a special .I
reserve or a special depreciation fund.
Incorporation Fees : : ~i:JI ..:..IJJ.F-"
Incorporation fees are estimated at Wll~ ~) 'v,o · · __, ..J.i.l.i
seventeen thousand and five hundred . (~ -'.:.L......u,
pounds (LE 17.500).
u 1 or s cport :
We reviewed the above prospectus and the ~_,.JI ...,_,t;;S'jl o~ ~ \.i....lbl
· ~L.. La..:..I
information contained herein and we found ...::..,\___jL..,•. JA . ..)J Uk. -

that the said information reflects the truth ~Lh..J ;j >;> L...Ali~J w,
0

and is in conformity with the relevant jyL..ill c>'&...Y wJ . !l.EJ wl..i..U.......ll

documents in accordance with the law No . ~~I ~'J J \ 'I A I A...i....J \ o 'I
152-of L98 I and its executive.regulations.
Chartered Accountant