General terms and conditions

KRANS & VAN HILTEN LAW FIRM 1 JULY 2011

1. Krans & van Hilten is a partnership consisting of legal entities. A list of the members of this partnership will be sent to you on request.

2. All stipulations of these general conditions were also made for the partners of Krans & van Hilten, for the officers of the legal partnerships and for all lawyers and other persons who are working with or on behalf of Krans & van Hilten.

3. All orders are exclusively accepted and carried out by the partnership Krans & van Hilten, even if the explicit or implicit intention is that an order will be carried out by a stipulated person. The orders will be confirmed in writing by Krans & van Hilten. The general conditions also apply to supplementary orders and follow-up orders. Acceptance of orders only takes place with exclusion of articles 7:404 and 7:407 paragraph 2 Civil Code.

4. When engaging third parties, Krans & van Hilten will exercise due care and discuss the selection of these third parties with the client if this is reasonably possible. All liability for shortcomings of these third parties is excluded. Krans & van Hilten will be authorized by clients to accept possible restrictions of liabilities by third parties on behalf of clients.

5. Krans & van Hilten does not guarantee the correct and complete transfer of the contents of an e-mail that was sent nor its timely receipt.

6. All claims from clients with regard to shortcomings on the side of Krans & van Hilten will become null and void if they have not been reported in writing with motivation to Krans & van Hilten within one year after the client knew about or could reasonably have been aware of the facts on which his claims are based.

7. Client will hold Krans & van Hilten harmless from all claims from third parties and the expenses incurred by Krans & van Hilten due to these claims, including the costs of legal assistance, in the case that the claims originate from the work performed by Krans & van Hilten for client.

8. Krans & van Hilten will exercise due care in carrying out the work. In case of complaints from clients, Krans & van Hilten aims to resolve these complaints or reach agreement with the client in consultation. In order to ensure careful handling of complaints, Krans & van Hilten has an internal complaints procedure. A copy of this procedure will be sent to the client on request. If after consultation the complaints have still not been resolved, the client will be authorised to submit the dispute to the Disputes Committee for the Legal Profession. Legal Profession Disputes Committee Rules can be obtained from the secretary of the committee (address: Bordewijklaan 46, 2nd floor, 2591 XR The Hague, PO box 90600, 2509 LP The Hague, telephone +31(0)70-3105310).

9. Any liability on the side of Krans & van Hilten, its partners and employees will be limited to the amount paid out in such a case on the basis of the professional liability insurance(s) taken out by Krans & van Hilten. If and insofar as no payment should be made for whatever reason pursuant to the professional liability insurance, the joint liability will be limited to three times the fee charged in connection with the order with a maximum of € 25,000, unless there was intention or equivalent gross negligence on the side of Krans & van Hilten.

10. Work and costs made will be invoiced periodically, in principle monthly. Work is generally executed based on an agreed upon hourly tariff (office costs and VAT excluded) which Krans & van Hilten can adjust annually. One of the payment conditions is that payment should be made within a period of 14 days after the invoice date, unless different terms of payment have explicitly been agreed upon. In the case that payment is not made within that period, Krans & van Hilten will have the right to charge statutory interest to the client. Should payment still not be made after a reminder was sent, then Krans & van Hilten will have the right to charge the client the extrajudicial collection costs amounting to 15% of the principal sum. In the case of non-payment by client for the work done, Krans & van Hilten will be entitled to suspend all work until payment has been made thereby excluding any liability of Krans & van Hilten for damages resulting from such. Krans & van Hilten can put unpaid fee statements for collection before the Disputes Committee for the Legal Profession referred to in article 8 or the Council of the Bar in The Hague, such as Krans & van Hilten chooses.

11. Only Dutch law will apply to the legal relationship between Krans & van Hilten and client. Disputes will only be settled by the competent court in The Hague, unless mandatory provisions dictate otherwise and without prejudice to the client’s authority to submit the dispute to the Disputes Committee for the Legal Profession as described in article 8 of the general terms and conditions and without prejudice to Krans & van Hilten’s authority to submit unpaid fee statements for collection to the Disputes Committee for the Legal Profession as described in article 10 of the general terms and conditions.

12. In the case that these general terms and conditions and the order confirmation include contrary provisions, the terms and conditions in the order confirmation will prevail.

13. These terms and conditions have also been drawn up in the English language. If there is any difference between the contents, tenor or interpretation, the Dutch text will be decisive.

These general terms and conditions have been filed at the Office of the District Court in The Hague and form part of the website Krans & van Hilten: www.kransenvanhilten.nl