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GENERAL TERMS AND CONDITIONS

De Vreede Advocaten B.V.

1. Definitions

• 1.1
  De Vreede Advocaten B.V. (hereafter: "De Vreede Advocaten") is a company with limited liability, established in accordance with the law of the Netherlands, whose purpose it is to conduct the practice of attorney (advocaat) in the broadest sense of the word.


• 1.2
  In these general terms and conditions the term "De Vreede Advocaten" shall also include all lawyers and other personnel employed by it.


• 1.3
  In these general terms and conditions the term "Services" shall mean: all products delivered and services rendered by De Vreede Advocaten to a client, as well as all other activities of any nature whatsoever performed by De Vreede Advocaten on behalf of a client, pursuant to an assignment, including but not limited to activities that are performed without the express request thereto of a client.

2. Scope of these general terms and conditions

• 2.1
  These general terms and conditions shall be applicable to all offers and agreements in connection with Services offered or rendered by De Vreede Advocaten. Deviations from these general terms and conditions shall only be valid if expressly agreed in writing.


• 2.2
  Not only De Vreede Advocaten, but also all those who are involved in the performance of any assignment of a client, can invoke these general terms and conditions. The same applies to former personnel including their respective heirs, if they are held liable after termination of their employ at De Vreede Advocaten.


• 2.3
  These general terms and conditions are also applicable to supplemental and further assignments of clients. They are available in the Netherlands and English language. In the case of any discrepancy as to the contents and purport of these terms and conditions, the Netherlands text will prevail.

3. Performance of Services

• 3.1
  All assignments given by clients for the rendering of Services, are considered by De Vreede Advocaten as exclusively given to it, even if it is the express or implicit intent that an assignment is to be performed by a specific person.


• 3.2
  If De Vreede Advocaten deems this necessary or useful, when performing Services De Vreede Advocaten shall at all times be authorised to seek the assistance of other persons. Also De Vreede Advocaten is at all times authorised to have the Services or any part thereof executed by third parties.

4. Restriction and/or exclusion of liability

• 4.1
  If by or in connection with the performance of an assignment of a client, an event occurs which leads to liability of De Vreede Advocaten, then such liability will be limited to the amount paid pursuant to De Vreede Advocaten's professional liability insurance including the amount of own risk that De Vreede Advocaten carries in connection with such insurance. Such event includes a failure to act.


• 4.2
  If by or in connection with the performance of Services or otherwise, damage is caused to persons or property, for which De Vreede Advocaten is liable, then the liability will be limited to the amount paid pursuant to De Vreede Advocaten's third party indemnity insurance provides coverage including the amount of own risk that De Vreede Advocaten carries in connection with such insurance.


• 4.3
  It is possible that persons engaged by De Vreede Advocaten in connection with the performance of an assignment limit their liability in connection therewith. De Vreede Advocaten proceeds from the assumption and to the extent necessary stipulates hereby that De Vreede Advocaten pursuant to the assignment is authorised to accept such a limitation also on behalf of clients.


• 4.4
  If the performance of an assignment of a client entails the engagement by De Vreede Advocaten of a person residing outside the European Union, De Vreede Advocaten shall not be liable for failures, including failures to act, committed by such person.


• 4.5
  The client has been informed and is aware of the fact that, De Vreede Advocaten has the legal obligation (under the Dutch Act 'Wet ter voorkoming van witwassen en financiering van terrorisme' [Act for the prevention of money laundering and financing of terrorism] (hereinafter: 'Wwft Act') to report transactions that may indicate money laundering practices in which the client is involved and which become known to the lawyer by the rendering of services to the client in the sense of section 1 paragraph 1 under a, 12 and 13 of Wwft to the authority created by the government for this purpose.


• 4.6
  Within the framework of this obligation to report, De Vreede Advocaten has also the obligation to identify the client who requests De Vreede Advocaten to render the services mentioned in clause 4.5. The client warrants the correctness of the information that he/she provides to De Vreede Advocaten within the framework of his/her identification.


• 4.7
  The information as mentioned in clause 4.6 shall be recorded by De Vreede Advocaten in separate files, separately from the files containing the subject matter of the services in question, and/or in an automated file that can be accessed by the Financial Supervision Office that supervises compliance with the obligations under the Wwft Act.


• 4.8
  The client is aware of the fact that a reporting as mentioned in paragraph 1 releases De Vreede Advocaten from the secrecy obligation it has under section 46 of the Dutch 'Advocatenwet' [Counsel Act] or Rule of Conduct 6.


• 4.9
  The client shall not hold De Vreede Advocaten liable before any criminal law, civil law or disciplinary court for damage suffered by the client resulting from the performance by De Vreede Advocaten B.V. of any of its obligations under the Wwft Act. This shall also apply if afterwards the reporting of an unusual transaction proves to have been done without any justification, provided that De Vreede Advocaten could fairly assume at the moment of the reporting that it concerned an unusual transaction in the sense of the Wwft Act.

5. Fees, expenses and payment

• 5.1
  Save as expressly stipulated otherwise in writing, the remuneration for Services rendered by De Vreede Advocaten shall be calculated on the basis of fixed hourly rates, as established by De Vreede Advocaten annually for each of its lawyers.


• 5.2
  In addition to the time spent by lawyers on behalf of the client, the fee includes a sum for general fixed office expenses.


• 5.3
  In addition to the fee De Vreede Advocaten shall charge the client for any out-of-pocket expenses and other direct costs involved in the rendering of the Services. Such direct costs shall - inter alia - include court fees, costs of attorneys-of-record, other attorneys-in-fact or other external experts, travelling and lodging expenses, costs of translations, costs of courier services and costs of long international telephone calls.


• 5.4
  In so far as a fixed price has been agreed for the rendering of specific Services and the rendering of such Services leads to extra work that cannot reasonably be deemed to have been included in the fixed price, De Vreede Advocaten shall inform the client in a timely manner regarding the financial consequences of such extra work.


• 5.5
  Fees, out-of-pocket expenses and other costs shall in principle be billed to the client by means of monthly invoices. This shall, however, not prejudice the possibility that the client is sent other invoices of fees and expenses at other times for Services that have already been rendered or expenses that have already been incurred, or the possibility that the client is asked to make an advance payment in connection with fees and out-of-pocket expenses which have become due, or other expenses (to be incurred) on his behalf.


• 5.6
  Any advance payment that may have been made by the client will be deducted from the final statement of fees and expenses.


• 5.7
  Monthly invoices, other interim statements of fees and expenses, as well as final statements of fees and expenses shall be due and payable at the latest within fourteen days from the invoice date. Advance payment invoices are due and payable forthwith.


• 5.8
  If the client fails to pay an invoice on the due date therefore, such client shall automatically be in default without any notification of default being required. In case of a payment default of a client De Vreede Advocaten shall have the right to discontinue or suspend the performance of Services on behalf of such client, without thereby incurring any liability towards such client.


• 5.9
  In case of a failure to pay on the part of the client, the client shall furthermore be liable to pay default interest on the amounts due to De Vreede Advocaten but unpaid at the rate of 3% per month, whereby a part of a month elapsed shall be calculated as an entire month.


• 5.10
  If De Vreede Advocaten for reasons it deems fit decides to commence legal proceedings in order to collect one or more invoices of fees and expenses due and unpaid, the client shall, in addition to the principal sum and interest due, reimburse De Vreede Advocaten for any and all judicial and extra-judicial expenses reasonably incurred by De Vreede Advocaten.

6. Applicable law and forum

• 6.1
  The relationship between De Vreede Advocaten and its clients is governed by Dutch law.


• 6.2
  For the benefit of De Vreede Advocaten it is stipulated that the District Court at Amsterdam will have jurisdiction over any dispute that may arise between De Vreede Advocaten and a client.

De Vreede Advocaten B.V.
Strawinskylaan 743
1077 XX AMSTERDAM
Registered with the Chamber of Commerce of Amsterdam under number: 34270967

These general conditions have been filed with the District Court at Amsterdam, on 23 October 2009 under number 89/2009.

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