Document:

Exhibit 10.1 

 

OCEAN CITY HOME BANK

THREE-YEAR CHANGE IN CONTROL AGREEMENT

 

THIS
AGREEMENT (the “Agreement”) is entered into as of February 12, 2015, by and between Ocean City
Home Bank (the
“Bank”), a federally-chartered savings bank with its principal offices at 1001 Asbury Avenue, Ocean City, New Jersey
08226-3392, Ocean Shore Holding Co. (the “Company”),
a New Jersey corporation and the holding company of the Bank, as guarantor, and Donald Morgenweck (“Executive”).

 

WHEREAS, the
Bank continues to recognize the importance of Executive to the Bank’s operations and wishes to protect his position with
the Bank in the event of a change in control of the Bank or the Company for the period provided for in this Agreement; and

 

WHEREAS, Executive
and the Board of Directors of the Bank desire to enter into an agreement setting forth the terms and conditions of payments due
to Executive in the event of a change in control and the related rights and obligations of each of the parties;

 

NOW, THEREFORE,
in consideration of the promises and mutual covenants herein contained, it is hereby agreed as follows:

 

		1.	Term of Agreement.

 

(a)The term of this Agreement
shall be (i) the initial term, consisting of the period commencing on February 1, 2015 (the “Effective Date”) and ending
on the third anniversary of the Effective Date, plus (ii) any and all extensions of the initial term made pursuant to this Section
1 of this Agreement.

 

(b) Commencing
on the first anniversary of the Effective Date and continuing each anniversary date thereafter, the Board of Directors of
the Bank (the “Board of Directors”) may extend the term of this Agreement for an additional one (1) year period
beyond the then effective expiration date, provided that Executive shall not have given at least sixty (60) days’
written notice of his desire that the term not be extended.

 

(c)Notwithstanding anything
in this Section to the contrary, this Agreement shall terminate if Executive or the Bank terminates Executive’s employment
prior to a Change in Control.

 

		2.	Change in Control.

 

(a)Upon the occurrence of
a Change in Control of the Bank or the Company followed at any time during the term of this Agreement by the termination of Executive’s
employment in accordance with the terms of this Agreement, other than for Just Cause, as defined in Section 2(c) of this Agreement,
the provisions of Section 3 of this Agreement shall apply. Upon the occurrence of a Change in Control, Executive shall have the
right to elect to voluntarily terminate his employment for “Good Reason.”

 

For purposes of this
Agreement, “Good Reason” shall mean the occurrence of any of the following events without the Executive’s consent:

 

		(i)	The assignment to Executive of duties that constitute a material diminution of Executive’s
authority, duties, or responsibilities (including reporting requirements);

 

    	 

    	 

    

 

		(ii)	A material diminution in Executive’s base salary;

 

		(iii)	Relocation of Executive to a location outside a radius of thirty-five (35) miles of the Company’s
Ocean City, New Jersey office; or

 

		(iv)	Any other action or inaction by the Bank or the Company that constitutes a material breach of this
Agreement;

 

provided, that within
ninety (90) days after the initial existence of such event, the Bank shall be given notice and an opportunity, not less than thirty
(30) days, to effectuate a cure for such asserted “Good Reason” by Executive. Executive’s resignation hereunder
for Good Reason shall not occur later than one hundred fifty (150) days following the initial date on which the event Executive
claims constitutes Good Reason occurred.

 

(b)          For purposes of this Agreement,
a “Change in Control” shall be deemed to occur on the earliest of any of the following events:

 

(i)Merger:
The Company merges into or consolidates with another corporation, or merges another corporation into the Company, and as a result
less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is
held by persons who were stockholders of the Company immediately before the merger or consolidation.

 

(ii)Acquisition
of Significant Share Ownership: The Company files, or is required to file, a report on Schedule 13D or another form or schedule
(other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, if the schedule discloses
that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company’s
voting securities, but this clause (b) shall not apply to beneficial ownership of Company voting shares held in a fiduciary capacity
by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting securities.

 

(iii)Change
in Board Composition: During any period of two consecutive years, individuals who constitute the Company’s Board of
Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s
Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board
(or first nominated by the board for election by the stockholders) by a vote of at least two-thirds (2/3) of the directors who
were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period;
or

 

(iv)Sale of Assets:
The Company sells to a third party all or substantially all of its assets.

 

(c)Executive shall
not have the right to receive termination benefits pursuant to Section 3 hereof upon termination for Just Cause. The term “Just
Cause” shall mean termination because of Executive’s personal dishonesty, incompetence, willful misconduct, any breach
of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule,
regulation (other than traffic violations or similar offenses), final cease and desist order, or any material breach of any provision
of this Agreement. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Just Cause unless and
until there shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of a majority of the entire
membership of the Board of Directors at a meeting of the Board of Directors called and held for that purpose (after reasonable
notice to Executive and an opportunity for him, together with counsel, to be heard before the Board of Directors), finding that
in the good faith opinion of the Board of Directors, Executive was guilty of conduct justifying termination for Just Cause and
specifying the particulars thereof in detail. Executive shall not have the right to receive compensation or other benefits for
any period after termination for Just Cause. During the period beginning on the date of the Notice of Termination for Just Cause
pursuant to Section 4 hereof through the Date of Termination, stock options granted to Executive under any stock option plan shall
not be exercisable nor shall any unvested stock awards granted to Executive under any stock benefit plan of the Bank, the Company
or any subsidiary or affiliate thereof, vest. At the Date of Termination, such stock options and any such unvested stock awards
shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such termination
for Just Cause.

 

    	2

    	 

    

  

		3.	Termination Benefits.

 

(a)If, within one
(1) year of a Change in Control, Executive voluntarily terminates his employment with the Bank or the Company or if the Bank or
the Company involuntarily terminates his employment, Executive shall receive:

 

		(i)	a lump sum cash payment equal to three (3) times the Executive’s “base amount,”
within the meaning of Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). Such payment
shall be made not later than five (5) days following Executive’s termination of employment under this Section 3.

 

		(ii)	Continued benefit coverage under all Bank health and welfare plans which Executive participated
in as of the date of the Change in Control (collectively, the “Employee Benefit Plans”) for a period of thirty-six
(36) months following Executive’s termination of employment. Said coverage shall be provided under the same terms and conditions
in effect on the date of Executive’s termination of employment. Solely for purposes of benefits continuation under the Employee
Benefit Plans, Executive shall be deemed to be an active employee.

 

(b)Notwithstanding
the preceding provisions of this Section 3, in no event shall the aggregate payments or benefits to be made or afforded to Executive
under said paragraphs (the “Termination Benefits”) constitute an “excess parachute payment” under Section
280G of the Code or any successor thereto, and to avoid such a result, Termination Benefits will be reduced, if necessary, to an
amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3)
times Executive’s “base amount,” as determined in accordance with said Section 280G. The allocation of the reduction
required hereby among the Termination Benefits provided by this Section 3 shall be determined by Executive.

 

		4.	Notice of Termination.

 

(a)Any purported
termination by the Bank or by Executive shall be communicated by Notice of Termination to the other party hereto. For purposes
of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in detail the facts and circumstances claimed to provide a basis for
termination of Executive’s employment under the provision so indicated.

 

(b) “Date
of Termination” shall mean the date specified in the Notice of Termination (which, in the case of a termination for Just
Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given).

 

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		5.	Source of Payments.

 

Unless otherwise determined
by the Board of Directors of the Company, all payments and benefits provided in this Agreement shall be paid or provided solely
by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as
to result in the duplication of any payment or benefit. Unless otherwise determined by the Board of Directors of the Company, the
Company’s sole obligation under this Agreement shall be to unconditionally guarantee the payment and provision of all amounts
and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by
the Bank, such amounts and benefits shall be paid or provided by the Company.

 

		6.	Effect on Prior Agreements and Existing Benefit Plans.

 

This Agreement contains
the entire understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that
this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided.
No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available
to him without reference to this Agreement. Nothing in this Agreement shall confer upon Executive the right to continue in the
employ of the Bank or shall impose on the Bank any obligation to employ or retain Executive in its employ for any period.

 

		7.	No Attachment.

 

(a)Except as required
by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment,
encumbrance, charge, pledge, or hypothecation or to execution, attachment, levy or similar process or assignment by operation of
law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void and of no effect.

 

(b)This Agreement
shall be binding upon, and inure to the benefit of, Executive, the Bank and their respective successors and assigns.

 

		8.	Modification and Waiver.

 

(a)This Agreement
may not be modified or amended except by an instrument in writing signed by the parties hereto.

 

 

(b)No term or condition
of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision
of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall
be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term
or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that
specifically waived.

 

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		9.	Severability.

 

If, for any reason,
any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the
full extent consistent with law continue in full force and effect.

 

		10.	Headings for Reference Only.

 

The headings of sections
and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Agreement. In addition, references herein to the masculine shall apply to both the masculine and the
feminine.

 

		11.	Governing Law.

 

Except to the extent
preempted by federal law, the validity, interpretation, performance, and enforcement of this Agreement shall be governed by the
laws of the State of New Jersey, without regard to principles of conflicts of law of that State.

 

		12.	Arbitration.

 

Any dispute or controversy
arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of three
arbitrators sitting in a location selected by Executive within fifty (50) miles from the location of the Bank, in accordance with
the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any
court having jurisdiction; provided, however, that Executive shall be entitled to seek specific performance of his right to be
paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement.

 

		13.	Payment of Legal Fees.

 

All reasonable legal
fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid
or reimbursed by the Bank, only if Executive is successful pursuant to a legal judgment, arbitration or settlement.

 

		14.	Indemnification.

 

The Company or the
Bank shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors’
and officers’ liability insurance policy at its expense and shall indemnify Executive (and his heirs, executors and administrators)
to the fullest extent permitted under applicable law against all expenses and liabilities reasonably incurred by him in connection
with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer
of the Company or the Bank (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities),
such expenses and liabilities to include, but not be limited to, judgments, court costs, attorneys’ fees and the cost of
reasonable settlements.

 

		15.	Successors to the Bank and the Company.

 

The Bank and the Company
shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all of the business or assets of the Bank or the Company, expressly and unconditionally to assume and agree to perform
the Bank’s and the Company’s obligations under this Agreement, in the same manner and to the same extent that the Bank
and the Company would be required to perform if no such succession or assignment had taken place.

 

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		16.	Required
Provisions.

 

In
the event any of the foregoing provisions of this Section 16 are in conflict with the terms of this Agreement, this Section 16
shall prevail.

 

		(a)	The Bank’s board of directors may terminate Executive’s employment at any time, but
any termination by the Bank, other than Termination for Cause, shall not prejudice Executive’s right to compensation or other
benefits under this Agreement. Executive shall not have the right to receive compensation or other benefits for any period after
Termination for Cause.

 

		(b)	If Executive is suspended from office and/or temporarily
prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or 8(g)(1) of
the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Bank’s obligations under this contract shall
be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed,
the Bank may in its discretion: (i) pay Executive all or part of the compensation withheld while their contract obligations were
suspended; and (ii) reinstate (in whole or in part) any of the obligations which were suspended.

 

		(c)	If Executive is removed and/or permanently prohibited
from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal
Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or (g)(1), all obligations of the Bank under this contract shall terminate as
of the effective date of the order, but vested rights of the contracting parties shall not be affected.

 

		(d)	If the Bank is in default as defined in Section 3(x)(1)
of the Federal Deposit Insurance Act, 12 U.S.C. §1813(x)(1) all obligations of the Bank under this contract shall terminate
as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties.

 

		(e)	All obligations under this contract shall be terminated, except to the extent determined that continuation
of the contract is necessary for the continued operation of the Bank: (i) by the Office of the Comptroller of the Currency (or
his designee) (the “Comptroller”), at the time the FDIC, at the time the FDIC enters into an agreement to provide assistance
to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. §1823(c);
or (ii) by the Comptroller (or his designee) at the time the Comptroller (or his designee) approves a supervisory merger to resolve
problems related to the operations of the Bank or when the Bank is determined by the Comptroller to be in an unsafe or unsound
condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

 

		(f)	Any payments made to employees Executive pursuant to
this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. §1828(k) and FDIC regulation
12 C.F.R. Part 359, Golden Parachute and Indemnification Payments.

 

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		17.	Section 409A of the Code.

 

(a)This Agreement is intended to comply
with the requirements of Section 409A of the Code, and specifically, with the “short-term deferral exception” under
Treasury Regulation Section 1.409A-1(b)(4) and the “separation pay exception” under Treasury Regulation Section 1.409A-1(b)(9)(iii),
and shall in all respects be administered in accordance with Section 409A of the Code. If any payment or benefit hereunder cannot
be provided or made at the time specified herein without incurring sanctions on Executive under Section 409A of the Code, then
such payment or benefit shall be provided in full at the earliest time thereafter when such sanctions will not be imposed. For
purposes of Section 409A of the Code, all payments to be made upon a termination of employment under this Agreement may only be
made upon a “separation from service” (within the meaning of such term under Section 409A of the Code), each payment
made under this Agreement shall be treated as a separate payment, the right to a series of installment payments under this Agreement
(if any) is to be treated as a right to a series of separate payments, and if a payment is not made by the designated payment
date under this Agreement, the payment shall be made by December 31 of the calendar year in which the designated date occurs.
To the extent that any payment provided for hereunder would be subject to additional tax under Section 409A of the Code, or would
cause the administration of this Agreement to fail to satisfy the requirements of Section 409A of the Code, such provision shall
be deemed null and void to the extent permitted by applicable law, and any such amount shall be payable in accordance with subsection
(b) below. In no event shall Executive, directly or indirectly, designate the calendar year of payment.

 

(b)If when separation from service
occurs Executive is a “specified employee” within the meaning of Section 409A of the Code, and if the cash severance
payment under Section 3(a)(i) of this Agreement would be considered deferred compensation under Section 409A of the Code, and,
finally, if an exemption from the six-month delay requirement of Section 409A(a)(2)(B)(i) of the Code is not available (i.e., the
“short-term deferral exception” under Treasury Regulations Section 1.409A-1(b)(4) or the “separation pay exception”
under Treasury Section 1.409A-1(b)(9)(iii)), the Bank will make the maximum severance payment possible in order to comply with
an exception from the six month requirement and make any remaining severance payment under Section 3(a)(i) of this Agreement to
Executive in a single lump sum without interest on the first payroll date that occurs after the date that is six (6) months after
the date on which Executive separates from service.

 

(c)If (x) under the terms of the
applicable policy or policies for the insurance or other benefits specified in Section 3(a)(ii) of this Agreement it is not possible
to continue coverage for Executive and her dependents, or (y) when a separation from service occurs Executive is a “specified
employee” within the meaning of Section 409A of the Code, and if any of the continued insurance coverage or other benefits
specified in Section 3(a)(ii) of this Agreement would be considered deferred compensation under Section 409A of the Code, and,
finally, if an exemption from the six-month delay requirement of Section 409A(a)(2)(B)(i) of the Code is not available for that
particular insurance or other benefit, the Bank shall pay to Executive in a single lump sum an amount in cash equal to the present
value of the Bank’s projected cost to maintain that particular insurance benefit (and associated income tax gross-up benefit,
if applicable) had Executive’s employment not terminated, assuming continued coverage for 24 months. The lump-sum payment
shall be made thirty (30) days after employment termination or, if Section 17(b) of this Agreement applies, on the first payroll
date that occurs after the date that is six (6) months after the date on which Executive separates from service.

 

(d)References in this Agreement
to Section 409A of the Code include rules, regulations, and guidance of general application issued by the Department of the Treasury
under Internal Revenue Section 409A of the Code.

 

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SIGNATURES

 

IN WITNESS WHEREOF,
Ocean City Home Bank and Ocean Shore Holding Co. have caused this Agreement to be executed and their seals to be affixed hereunto
by their duly authorized officers, and Executive has signed this Agreement, all on the date first written above.

 

 

	ATTEST:	 	OCEAN CITY HOME BANK
	 	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Kim M.
Davidson	 	By:	/s/ Steven
E. Brady
	Kim M. Davidson	 	 	Steven
E. Brady
	Corporate Secretary	 	 	Chief
Executive Officer
	 	 	 	 
	 	 	 	 
	ATTEST:	 	OCEAN SHORE HOLDING CO.
	 	 		(Guarantor)
	 	 	 	 
	 	 	 	 
	/s/ Kim M.
Davidson	 	By:	/s/ Steven
E. Brady
	Kim M. Davidson	 	 	Steven
E. Brady
	Corporate Secretary	 	 	Chief
Executive Officer
	 	 	 	 
	 	 	 	 
	 	 	 	 
	[SEAL]	 		 
	 	 	 	 
	 	 	 	 
	 	 	EXECUTIVE
	 	 	 	 
	 	 	 	 
	 	 	/s/ Donald F. Morgenweck
	 	 	Donald Morgenweck

 

    	8EX-4.03

 Exhibit 4.03 

LEASE AGREEMENT 
 Between 

BASSAT PARTNERS, S.L. 
 (the
“Lessor”) 
 and 
 KING SHARED
SERVICES, S.L 
 (the “Lessee”) 

Barcelona, 11 November 2014 

  

					
					
			
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 Barcelona, 11 November 2014 
  

	I.	 The Parties 

 Being one party
hereto, 
 The commercial company BASSAT PARTNERS, S.L., with Taxpayer Identification Number B-58.274.648 and registered office at 7th
Floor, 123 Avenida Josep Tarradellas, Barcelona. 
 It is represented by Ms YOLANDA BASSAT ORELLANA, of age, with professional office for these
purposes at the registered office of the represented company; holding ID card number 46.334.706-X, acting as the representative of BASSAT, S.L., CEO of BASSAT PARTNERS, S.L., by virtue of the resolution of the Board of Directors of the latter dated
31 March 2014 made public in the deed authorised by the Notary of Barcelona Mr Javier García Ruiz on 4 April 2014 under number 1.227 of his protocol. 

It is hereinafter referred to as the “Lessor”.  

Being the other party hereto, 
 The
commercial company KING SHARED SERVICES, S.L, with Taxpayer Identification Number B-66.036.906 and registered office at 6th Floor, 123 Avenida Josep Tarradellas, Barcelona. 

It is represented by Mr Riccardo Zacconi, an Italian national, of age, with business office at 21 St. Pertersburgh Place, W2 4LA, London (United
Kingdom), and the holder of a valid passport of his nationality No. YA2473200, acting as the CEO by virtue of the deed executed by the Notary of Barcelona, Mr Rafael de Córdoba Benedicto on 7 May 2014 under 1.278 of his protocol. 

It is hereinafter referred to as the “Lessee”.  

Both the “Lessor” and the “Lessee” will hereinafter be referred to jointly as the “Parties” and any of them
individually and equally as a “Party”. 
  

	II.	 Recitals 

 1st.- That the Lessor
is the lawful owner of the parking spaces and the office described hereinbelow situated at number calle 123 Josep Tarradellas, post code 08029 (Barcelona). It is hereby confirmed that it is situated on the 2nd floor of the building and corresponds
to property 2B and that it makes part of the registered entity which is described as follows: 
  

	1.	 “URBAN PROPERTY: NUMBER FOURTEEN - SECOND FLOOR at house number 123, 125 and 127, Avenida de Infanta Carlota Joaquina, Barcelona; it has its own
entrance through an independent staircase situated in calle Rita 

  

					
					
			
			2		

	 	 
Bonnat; its intended use is as offices, it has a built-up surface of two thousand and one metres seventy-eight decimetres and useful surface of one thousand eight hundred and eighty-three metres
thirteen decimetres. ADJOINS: in the south, in vertical projection to calle Rita Bonnat; in the east, in vertical projection to Avenida de la Infanta Carlota Joaquina; in the north, to Pablo Gaya’s property, partly to Martin Vilaseca’s
property and partly with house number 24 and 26 in calle Loreto and partly to the Comercio y Producción, S.A. property. 

Registered: Property Register number SEVEN of Barcelona, book 362, folio 248, property number 24.472. 

Title: Title is held by Infanta Carlota 123 S.A. as the owner, by virtue of the sale and purchase deed signed before the Notary of
Barcelona Mr Enrique Peña Belsa on 6 September 1988. 
 Number in the cadastre: 8232519DF2883C0060QD. 

It is hereinafter referred to as the “Property”. 

 

	2.	 “Two parking spaces with numbers 39 and 60, which make part of the following registered unit: “URBAN [PROPERTY]: UNIT NUMBER ONE - BASEMENT with
the loft of building number 123,125 and 127 in Avenida Josep Tarradellas (formerly Infanta Carlota Joaquina), in Barcelona, with entrance and exit via calle Rita Bonnat, with intended use as a warehouse, with various appurtenances, and has a
built-up surface, including the loft, of two thousand six hundred and sixty-nine square metres ninety square decimetres, and useful area of two thousand five hundred and one square metres seventy-three square decimetres. Adjoins: in the south, to
the subsoil of calle Rita Bonnat, to which it has an exit through a staircase; in the north, to the subsoil of Pablo Gaya’s property, partly to Martin Vilaseca’s property and partly to the basement of house numbers 24 and 26 in calle
Loreto and partly to the subsoil of the “Comercio y producción, S.A.” property.” 

 The
parking spaces registered: Property Register number 7 of Barcelona, volume 882, folio 169, property 8.241. 
 Title: Title is held by
virtue of the public deed issued before the Notary of Barcelona Mr José-María Costa Torres on 29 July 2003 under number one thousand nine hundred and twenty-seven of his protocol. 

Number in the cadastre (common for the whole of the registered unit): 8425313DF2882E0001JL. 

The above two parking places are hereinafter referred to as the “Parking Spaces”.  

2nd.- The Property is currently occupied by the Lessor. 

3rd.- The Lessor is interested in vacating the Property and letting it to the Lessee in its entirety, and they are interested in receiving it. 

4th.- Having stated the above, the Lessee and the Lessor have agreed the legal and economic conditions that shall govern the current

  

					
					
			
			3		

 
lease and that are set out in this agreement and in the other Annexes and additional documents that may be signed. 

5th.- In view of the above, the Parties, mutually acknowledging that they have the legal capacity necessary for this purpose, agree to sign this LEASE
AGREEMENT FOR NON-RESIDENTIAL USE for the Property and the Parking Spaces (hereinafter referred to as the “Agreement”), subject to Law No. 29/1994 of 24 November on urban leases (hereinafter referred to as the
“LAU”), and pursuant to the following 
  

	III.	 Articles 

  

	1.	 Subject of Agreement 

 By this
Agreement, the Lessor leases to the Lessee, who in turn accepts the lease, the Property and the Parking Spaces described in the First Recital hereinabove. 
  

	2.	 Intended Use 

 The Property
subject to this Agreement is intended to be used only and exclusively as an office, and the parking spaces shall be used for the parking of vehicles. 
  

	3.	 Term of Lease and Return of the Property and the Parking Spaces 

3.1     Term. Without prejudice to that which is set out in Article 3.4 below, the term of the Agreement is agreed till
31 December 2017. 
 3.2     Extension. The Lease Agreement shall be extended automatically for an additional
three-year period, i.e. from 1 January 2018 to 31 December 2020, unless the Lessee informs the Lessor in good faith of the waiver of said extension before 14:00 hours on 30 June 2017. 

3.3     Automatic Termination. Once the period set out in paragraph 3.1 above or, as the case may be, the extension
provided for in paragraph 3.2 above has passed, the Lease Agreement shall be terminated automatically without the Parties having to make any prior notice whatsoever. 

3.4     Compulsory Compliance. It is established as a condition precedent that the Lease Agreement shall be binding on
the Lessee during its whole term set out in paragraph 3.1 above (i.e. till 31 December 2017) and equally, should the extension provided for in paragraph 3.1 above occur, during the whole duration thereof. As a result, if the Agreement is
withdrawn from before the end of said initial term or extension, or if it is terminated due to a cause attributable to the Lessee, the latter shall pay the Lessor as damages and as a Penalty Clause a lump sum determined by mutual agreement without
the need to certify the actual damages and without possible moderation by courts and tribunals the amount equivalent to the rent, costs and fees corresponding to the period remaining till such termination. 

  

					
					
			
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 3.5     If the Agreement is terminated for any reason, the Lessee shall return the
Property and the Parking Spaces to the Lessor in the same condition in which they are handed over, except normal wear and tear, which shall be accepted. The Lessor may authorise the performance of all the upgrades and improvements made by the Lessee
and may in any case request that the latter remove all those elements and installations of their property that may have been added and/or modified by the Lessee. 

3.6     The Lessee may carry out refurbishment works in the Property without modifying the structure or the stability of the
building. For this purpose they may submit to the Lessor the approved design, understood to have been approved within 10 business days (with the exclusion of Saturdays and holidays). The Lessor may only object for a justified cause, which they shall
explain. After 10 working days (with the exception of Saturdays and holidays) have passed without response from the Lessor, it shall be understood that they give their consent to the works. The works shall be done under appropriate optional
supervision pursuant to the applicable regulations and with the relevant licence having been obtained previously. 
 At the time of the termination of
the Lease Agreement, the Lessee shall restore the Property to its current condition. Nevertheless, the Lessor may exempt the Lessee from said obligation of restoration, in which case the performed work shall be to the exclusive benefit of the
Lessor, while the Lessee may not claim any indemnification or compensation whatsoever for it. 
  

	4.	 Handover 

4.1     The Parking Spaces shall be made available to the Lessee on the signing date of this Agreement. 

4.2     The Property shall be made available to the Lessee on 1 March 2015 upon having been vacated by the Lessor. 

4.3     Equally, if the handover of the Property is delayed, the term of the Agreement shall be extended by the same period.

  

	5.	 Rent and Revision 

5.1     The rent payable by the Lessee for the lease shall be fixed at (i) NINE THOUSAND AND TWENTY-FOUR EUROS (€9,024.00) per month for the Property; and THREE HUNDRED EUROS (€300.00) per month for the Parking Spaces, at the rate of 150 Euros per parking space. The
total Rent shall comprise NINE THOUSAND THREE HUNDRED AND TWENTY-FOUR EUROS (€9,324.00) (the “Rent”). The Rent shall be increased by the relevant Value Added Tax (hereinafter referred
to as “VAT”), a tax that shall apply as set out in paragraph 11.1 of this Agreement. 
 5.2     The Lessee shall
not be obliged to pay the rent as well as the costs and taxes on the Property to the Lessor until it is handed over by the Lessor. 

5.3     The agreed rent shall be revised annually as of 1 January 2016 based on the increase of the Consumer Price Index.
Further 

  

					
					
			
			5		

 
revisions shall be made every 1 January counted from said date according to the increases to the Consumer Price Index (referring to the national inflation average), whether an increase or a
decrease, published by the National Institute for Statistics or by the organisation that may replace it, applying to the rent corresponding to the previous annual payment the percentage change experienced by said Index in the period of twelve months
immediately prior to the date of each adjustment. Should the above particular index no longer be published, the relevant index replacing it of the indices published by the National Institute for Statistics or the organisation that may replace it
shall apply. 
 5.4     Taking into account the fact that the data of the National Institute for Statistics or the
organisation that may replace it are published with a delay and as a result, if the month in which the already revised rent would have to be charged has started and the basis or coefficient corresponding to such date are not yet known, the Parties
expressly agree that the corresponding increases according to the revision system agreed in this Agreement shall apply retroactively to the date on which the already revised rate must start to be charged, while the relevant additional receipts shall
be issued once the necessary data of the above National Institute for Statistics or the organisation that may replace it are known, while it may not be assumed in any case that the Lessor waive their collection. 

5.5     The Lessee shall pay to the Lessor’s account, based on the Consumer Price Index of the latest published monthly
payment, the amounts corresponding to the increases following from this Article on revision, which shall not be final, while the settlement corresponding to the retroactive effects provided for shall be carried out, when the final indices are known.

 5.6     Should the Lessee fail to pay the rent within the set period they shall pay interest for the delay at the EURIBOR
one year rate plus four point five (4.5) percentage points. Said interest shall accrue daily and shall be charged in the rent receipt corresponding to the month immediately prior to the one in which the delay occurred. The payment of said
penalty shall not grant the right to delay the rent payments, while the Lessor may initiate relevant actions as the case may be. 

5.7     If the coming into effect of this Agreement does not coincide with the start of the calendar month, the receipt for the
rent corresponding to the Parking Spaces shall be issued pro rata to the days of validity of the lease in said month. 

5.8     The total amount of the fees of the property owners’ association to which the leased Property and Parking Spaces
belong, as well as the Real Estate Tax corresponding to them shall be to the account of the Lessee. For the purposes of that which is set out in article 20 of the LAU, the Lessor hereby declares that said costs currently comprise SEVENTEEN THOUSAND
FIVE HUNDRED AND SEVENTY-EIGHT EUROS FIFTY-TWO CENTS (€17,578.52) per annum, comprised of €8,697.48 in property owners’ association fees on the
Property, €8,189.04 in Real Estate Tax on the Property, and 692 Euros in property owners’ association fees on the Parking Spaces (which comprises the Real Estate tax on same). For these purposes,
given that the receipts for property owners’ association fees and Real Estate Tax are issued together for the entirety of the second floor of the building, it is confirmed that only 32% of same correspond to the Property. 

  

					
					
			
			6		

	6.	 Rent Payment 

 The payment of
the rent and the other expenses which pursuant to the Law and the Articles of this Agreement may be passed on or charged to the Lessee shall be made in advance, within the first five (5) business days of each month, and the relevant receipts
shall be debited directly to the bank current account of the Lessee No. ES78 0065 0145 3800 0152 0694 for this purpose. 
  

	7.	 Utilities and Accounting 

7.1     The Property is leased in the current condition of the existing general and branch line connections or lines
corresponding to same for the utilities that the building is provided with. 
 7.2     The amount corresponding to the
consumption of all said utilities that they may have made since the effective date of the Agreement till its termination for any reason shall be to the account of the Lessee. The utilities for consumption prior to the effective date shall be to the
account of the Lessor. 
 7.3     The Lessee is free to agree with the relevant suppliers any or all of the utilities that
the Property may or might be provided with, exempting the Lessor of any responsibility whatsoever. 
  

	8.	 Maintenance and Works 

8.1     The Lessee declares that they are aware of the characteristics and maintenance condition of the Property and that they
expressly accept them. In case of pre-existing failures or defects, the Lessee shall have a period of 15 days to inform the Lessor thereof, while the latter shall rectify them promptly and diligently. After such period has passed, the Property shall
be understood to have been received satisfactorily and in good condition. As for the installation of air conditioning, the Parties agree that during the term of the Agreement, the Lessee shall become responsible for the condition and correct
functioning of said climatisation equipment, for which purpose they shall bear the costs of maintenance, repair and upkeep of said equipment. 

8.2     The Lessor shall only carry out the repairs that may be necessary to maintain the Property in the conditions necessary
for the agreed use, except where the wear that is being repaired may be deemed to be attributable to the Lessee pursuant to that which is set out in article 30 of the LAU. The maintenance and repair works that wear and tear by normal use of the
Property and its installations may require shall be to the account of the Lessee. 
 8.3     The Lessor shall authorise any
upgrade, refurbishment and work that the Lessee may wish to perform, including installations and utilities, and shall not authorise said works if they mean a danger or damage to the structure of the building or of the Property, may weaken the
materials used in the construction or may affect common elements of the building (which for this purpose shall be confirmed by the Lessee through presentation to the Lessor, 

  

					
					
			
			7		

 
before the start of the works, of the relevant plan, design and work memorandum, qualities and finishes). 

8.4.    The Lessor shall hand over to the Lessee before handing over the possession of the Property a copy of the energy efficiency
certificate corresponding to same. 
 8.5.    Emergency Staircase 

8.5.1.   The Lessee hereby states that they know and accept that the Property Owners’ Association of the building in
which the Property is situated has agreed to the possibility of an emergency staircase being built, which would pass through all the floors of the building and which would occupy, in purely tentative terms, approximately 6 square metres of the
surface of the Property. Enclosed as Annex 2 is a copy of the plan that shows the surface that, as the case may be, will be taken up by said emergency staircase. 

8.5.2.   In case construction of said staircase is carried out, the Lessee, while expressly waiving that which is set out
in article 30 in conjunction with articles 22 and 26 of the LAU, agree to facilitate technicians and workers access insofar as it may be necessary and to tolerate said works, which shall be performed such that inconvenience to the Lessee is
minimised as much as possible. Without prejudice to the obligations of the Property Owners’ Association, the Lessor assumes before the Lessee the cost of the works, including the finishes of the affected zone of the Property, such that they
remain in conditions similar to those existing before the start of the works. The Lessor shall indemnify and hold the Lessee harmless for any claims that may result from the construction of said staircase. 

8.5.3.   If said construction is carried out, the monthly rent for the Property and the costs (including the property
owners’ association fees and Real Estate Tax) shall be reduced as of the starting date of the works pro rata to the surface of the Property that may be occupied by said emergency staircase. During the works, the rent shall be reduced taking
into account the harm that the Lessee may suffer as a consequence thereof. 
 9. Permits and Licences 

9.1 The Lessor is exempt of any responsibility in case the existing opening Licences or permits are revoked or become invalid and the Property is
ordered to close, except where it is caused by serious negligence or bad faith attributable to the Lessor. 
 10. Signs 

10.1 The Lessee may install certain advertising signs and/or notices that they may deem convenient with prior consent of the Lessor, provided that said
installation complies with the applicable regulation and has obtained the permits and licences necessary for their correct installation, adapting them to the applicable general rules of the property owners’ association of the building to which
the leased Property belongs, and, as the case may be, upon consent of said association. 

  

					
					
			
			8		

 The taxes, fees and permits required for said installations shall be to the Lessee’s account. 

10.2 If the installation of signs involves works, that which is set out in Article 8.3 above shall apply. In any case, should the Agreement be
terminated for any reason, the Lessee shall remove, at their expense and with full indemnification for the Lessor, any notices they may have installed whatsoever, leaving the place where they may have been installed in the current condition. 

11. Taxes and Tax Withholding 
 11.1 The Agreement is subject
to Value Added Tax (VAT), which shall apply to the Lessee in each one of the monthly rent receipts, pursuant to that which is set out in the Law and the Regulation of said tax, i.e. for the amount that may result from the application of the rate
applicable to the rent at any time and other amounts that may constitute the tax base on the date of accrual. 
 11.2 The Lessee shall also pay the
taxes, charges, fees and generally all the contributions or levies of any type that may be charged or withheld from the Property and the Parking Spaces for the reason of their activity. 

11.3 Lacking confirmation of the cases in which the withholding provided for in Royal Decree 113/1998 of 30 January should not apply, the Lessee
shall proceed with withholding an appropriate amount for its depositing in the Tax Office. 
 12. Transfer and Sublease 

12.1 The Lessee may not transfer or assign this Lease Agreement without prior written consent of the Lessor. 

12.2 The Parties agree that the Property and the Parking Spaces subject to this Agreement may not be subleased by the Lessee without express prior
written consent of the Lessor. 
 12.3 An exception from that which is set out in Articles 12.1 and 12.2 above is made for transfer or sublease in
favour of the business group of the Lessee, which shall not require the consent of the Lessor, which hereby authorises it and consents insofar as necessary, also expressly waiving any increase of the rent in case of said transfer or sublease. 

13. Security and Guarantee 
 13.1 Security: On the day
following the signing of this Agreement, the Lessee shall hand over to the Lessor the security, which shall comprise EIGHTEEN THOUSAND SIX HUNDRED AND FORTY-EIGHT EUROS (€18,648.00), equivalent to two
(2) monthly rent payments (including rent for the Property and for the Parking Spaces) by transferring it into the Lessor’s current account 2100 2903 68 0200096180. 

  

					
					
			
			9		

 The above amount shall correspond, insofar as it is sufficient, to the performance of the obligations
assumed by the Lessee by virtue of the Agreement, pursuant to that which is set out in article 36 of the LAU. 
 The amount of the security shall be
deposited by the Lessor with the competent organisation and within the set legal period, while it shall not be subject to any adjustment whatsoever during the entire term of the present lease. The Lessor shall hand over to the Lessee a copy of the
supporting documentation of said deposit. 
 13.2 Bank Guarantee: Furthermore, in order to guarantee the performance of all the obligations
following from this Agreement, the Lessee hereby undertakes to hand over, at the time of the handover of possession of the entire Property, a first demand bank guarantee, while waiving the benefits of division, exclusion and priority, in the amount
of SIXTY-FOUR THOUSAND SEVEN HUNDRED AND THIRTY-THREE EUROS TWENTY-SIX CENTS (€64,733.26) equivalent to six (6) monthly rent payments (including the rent for the Property and the Parking Spaces)
and costs (property owners’ association fees and Real Estate Tax). 
 13.3 Should these guarantees be executed fully or partly, the Lessee shall replace them for
the relevant guarantee amount set out in the previous paragraphs. 
 14. Expiry of the Agreement 

The Agreement shall expire in the following cases: 

(a)      Upon the passing of the term of the Agreement or notice of termination of same on the terms of Article 3.

 (b)      Upon mutual agreement between the Parties made in writing. 

(c)      Due to substantial failure by any one of the Parties to meet any of the obligations set out in the Agreement,
except where such failure to meet obligations is rectifiable and is rectified within thirty (30) business days following the date on which notice is made requiring the non-complying Party to rectify it. After said period has passed without the
non-compliance having been rectified, the notifying Party may declare the Agreement terminated by written notice to the non-complying Party and claim the damages that may correspond to it. 

(d)      For legal or contractually stipulated reasons. 

On the expiry date of the Agreement, the Lessee shall return the Property and the Parking Spaces pursuant to that which is set out in Article 3, and
Lessor shall return the guarantee referred to in Article 13, provided that at the time of expiry of the Agreement, the Lessee is up to date with rent payments or, if not, the amount of the outstanding rent payments exceeds the amount of the security
and that, after the condition of the Property and the Parking Spaces has been inspected, no damage is observed that may exceed the amount of the security. The Lessor may keep the security until the Lessee has paid the amounts owed for utilities or
outstanding rent payments, upon which the Lessor shall return the security within ten (10) business days of such payment. 

  

					
					
			
			10		

 Equally, the Lessee waives the pre-emptive right, right of first refusal and right to repurchase in respect
of the Property and the Parking Spaces provided for in Article 31 of the LAU, while in any case the Lessee shall notify the Lessor of their intention to sell at least thirty days in advance of the date the sale and purchase is formalised, on the
terms of article 25.8 of the LAU. 
 15. The Lessee’s Declarations and Obligations 

15.1.1  The Lessee assumes direct and exclusive responsibility and exempts the Lessor of any liability for the damages that may be caused to
persons or things and may follow from the possession of and the activity carried out in the Property and the Parking Spaces and from the functioning of its installations, while exempting the owner/lessor of all liability. 

15.1.2  The Lessee hereby undertakes to pay the agreed monthly rent, increases and similar amounts 

15.1.3  The Lessee hereby undertakes to maintain an insurance policy that is sufficient and adequate in order to take responsibility for
damages that may be caused to the contents of the Property, as well as to third parties or to the customers and employees of the enterprise both due to the activities carried out in the Property as well as due to possession of same and due to the
functioning of its installations, exempting the owner/lessor of all liability. 
 16. The Lessor’s Declarations and Obligations 

16.1  The Lessor hereby undertakes to meet all the obligations that correspond to them by virtue of this Agreement. 

16.2  The Lessor hereby undertakes that a sufficient and adequate insurance policy will exist and be maintained in force, contracted by the
Lessor themselves or by the property owners’ association, to take responsibility for damages that may be caused to the container (building) of the Property and the Parking Spaces as a result of disasters whose cause may be the container (such
as problems of air tightness, pipes, coverings, general-use installation etc.). 
 16.3 The Lessor hereby hands over to the Lessee the Energy
Efficiency Certificate of the Property pursuant to that which is set out in Royal Decree 235/2013 of 5 April, which approves the basic procedure for energy efficiency certification of buildings. 

17. Rules of Interpretation 
 17.1 Headings 

The headings and the table of contents used in the Agreement are only included for reference purposes and do not affect its interpretation. 

17.2 Prevalence 

  

					
					
			
			11		

 Should there be contradictions between the contents of an additional document or an annex and the contents
of the Articles of the Agreement, preference shall always be given to the letter, spirit and purpose of the latter, except where expressly set out otherwise. 

17.3 Severalty and Supplementation of the Articles 

The unlawfulness, invalidity or ineffectiveness of any of the Articles of the Agreement shall not affect the effectiveness of the rest, provided that
the rights and obligations of the Parties following from the Agreement are not affected in a substantial manner. Substantial shall be understood as any situation that may gravely damage the interests of either of the Parties or that may affect the
actual subject of Agreement stipulated in Article 1. Said Articles shall be replaced and supplemented with others, which, being compliant with the law, may meet the purpose of those replaced. 

17.4 Prevalence and Modifications of the Agreement 

The Agreement constitutes the whole agreement reached between the Parties until its signing date in respect of the subject matter contained in same and
replaces and revokes all prior agreements in relation to its subject. 
 The modifications that may be made to the Agreement shall be written up in a
document signed by the Parties. 
 17.5 Waiver 

It shall not be understood that the Parties have waived any of the rights resulting from the Agreement or derived from failure to comply with same,
except where such waiver is made expressly and in writing pursuant to this Agreement. 
 If either of the Parties waives any of its rights following
from the Agreement or from any failure by the other Party to comply pursuant to the previous paragraph, such waiver shall not be interpreted in any way as the waiver of any other right resulting from the Agreement or from any non-compliance by the
other Party, even if they are similar. 
 18. Notices 

18.1 Form 
 All the communications and notices that
the Parties are to make to each other by virtue of the Agreement or that may be associated with same shall be made in writing and by way of: 

(a)      hand delivery with written confirmation of receipt by the other Party; 

(b)      notary public; 

(c)      certified fax with confirmation of receipt and certification of the contents; or 

  

					
					
			
			12		

 18.2 Address and addressees 

The communications and notices between the Parties shall be sent to the addresses and for the attention of the persons shown below. 

For the Lessor: 
 BASSAT PARTNERS, S.L. 

Av. Josep Tarradellas 123, 7° 
 08029 Barcelona

 For the Lessee: 
 KING SHARED SERVICES, S.L 

Av. Josep Tarradellas número 123, 6a planta 

08029 Barcelona 
 18.3 Changes 

Any change to the addresses or persons for the purposes of notifications shall be communicated to the other Party forthwith pursuant to the rules set
out in this Article. Insofar as a Party has not received notice of such changes, the notices made by it pursuant to said rules according to the original details shall be understood to be made correctly. 

 

	19	 Applicable Law 

19.1   This Agreement shall be governed by that which is provided for in same, failing that by that which is set out in Title III of the
effective LAU and, failing that, by that which is set out in the Civil Code. 
  

	20	 Data Protection 

20.1   Pursuant to Law 15/1999 on Personal Data Protection, the representatives of both Parties acknowledge that they are informed and
agree for the personal details reflected in this Agreement to be included in the respective files of each Party at the address stipulated in the heading of the Agreement with the main objectives of complying with the development of same, of sending
documentation relating to it and maintaining the historical data. 
 In the case of providing information on third parties for the performance of the
Agreement, each Party shall have previously informed them and asked for their consent for the ends set out herein. 
 20.2   Each Party
hereby undertakes to make known to the other Party any variation of the personal details that may be provided for the performance of the Agreement so that they may be updated; otherwise, it shall be understood that the details have not been modified
and are accurate and current. 
 If it is desired to exercise the rights of access, rectification, cancelation and objection, please send a letter
with a copy of the ID card to the address shown 

  

					
					
			
			13		

 
in the heading of this Agreement, marking the envelope “Data Protection”. 
  

	21	 Jurisdiction 

21.1  The Parties agree to subject any litigation resulting from the performance or interpretation of the Agreement to the courts and
tribunals of the city of Barcelona while expressly waiving their own jurisdiction if covered by a different one. 
  

	22	 Notarisation of the Agreement and Its Registration in the Property Register 

The Parties hereby undertake to notarise this Agreement and to have it registered in the Property Register whenever any one of the Parties may request
it. The cost of such notarisation and registration shall be paid by the Party that has requested it. 
 The Parties sign this Agreement as proof of
approval of that which is set out hereabove in duplicate and for a single purpose in the place and on the date shown in the heading. 
 /s/ YOLANDA BASSAT ORELLANA

 The Lessor 
 Ms YOLANDA BASSAT ORELLANA,
BASSAT PARTNERS, S.L  
 /s/ RICCARDO ZACCONI 

The Lessee 
 Mr RICCARDO ZACCONI, KING
SHARED SERVICES, S.L 

  
 14 

 DIRECT DEBIT MANDATE 
  

			
	                    Creditor/Issuer		 
	 Name:
		 Bassat Partners S.L.

	 Address:
		 Av. Josep Tarradellas, 123 7°

	 Post code:
		 08029

	 Place:
		 Barcelona

	 Taxpayer Identification Number:
		 B-58.274.648

		
	                    Debtor		 
	 Name:
		 KING SHARED SERVICES S.L.

	 Address:
		 Avenida Josep Tarradellas, 123, 6a planta

	 Post code:
		 08029

	 Place:
		 Barcelona

	 Taxpayer Identification Number:
		 B-66.036.906

 By signing this Direct Debit Mandate the Debtor authorises the Creditor/Issuer to send repeat instructions to the
Debtor’s financial institution in order to debit to the account of the debtor himself repeatedly the relevant amounts, according to the instructions of the Creditor/Issuer. 

 

																																															
	 BIC of the Debtor’s financial institution (8 digits):

	 B   		 A   		 R   		 C   		 E   		 S   		 M   		 M   																																
										
	 Number of the Debtor’s account (IBAN) (24 digits):
																		
	 E   		S		7		8		0		0		6		5		  0   		 1   		 4   		 5   		 3   		 8   		  0   		  0   		  0   		 1   		 5   		 2   		  0   		 6  		  9  		  4
															
	 Barcelona, 11 November 2014Boc
																												

  

			
	Signature		  

		
	Name and surnames		  

  
 15 

 PLAN OF THE EMERGENCY STAIRCASE 

  

					
					
			
			16		

 [figure] 

Carrer de RITA BONNAT 
 /s/ Carrer de RITA BONNAT

 Av. de JOSEP TARRADELLAS 

 LEASE AGREEMENT 

Between 
 BASSAT PARTNERS, S.L. 

(the “Lessor”) 
 and 

KING SHARED SERVICES, S.L 
 (the
“Lessee”) 
 Barcelona, 11 November 2014 

  

					
			1		
			
					

 Barcelona, 10 November 2014 

I.   The Parties 
 Being one party hereto,

 The commercial company BASSAT PARTNERS, S.L., with Taxpayer Identification Number B-58.274.648 and registered office at 7th Floor, 123
Avenida Josep Tarradellas, Barcelona. 
 It is represented by Ms YOLANDA BASSAT ORELLANA, of age, with professional office for these purposes at the
registered office of the represented company; holding ID card number 46.334.706-X, acting as the representative of BASSAT, S.L., BASSAT PARTNERS, S.L. CEO, by virtue of the resolution of the Board of Directors of the latter dated 31 March 2014
made public in the deed authorised by the Notary of Barcelona, Mr Javier García Ruiz, on 4 April 2014 under number 1.227 of his protocol. 

It is hereinafter referred to as the “Lessor”. 

Being the other party hereto, 
 The
commercial company KING SHARED SERVICES, S.L, with Taxpayer Identification Number B-66.036.906 and registered office at 6th Floor, 123 Avenida Josep Tarradellas, Barcelona. 

It is represented by Mr Riccardo Zacconi, an Italian national, of age, with business office at 21 St. Pertersburgh Place, W2 4LA, London (United
Kingdom), and the holder of a valid passport of his nationality No. YA2473200, acting as the CEO by virtue of the deed executed by the Notary of Barcelona, Mr Rafael de Córdoba Benedicto on 7 May 2014 under 1.278 of his protocol. 

It is hereinafter referred to as the “Lessee”. 

Both the “Lessor” and the “Lessee” will hereinafter be referred to jointly as the “Parties” and either of them
individually and equally as a “Party”. 
 II.  Recitals 

1st.- That the Lessor is the lawful owner of the parking spaces and the office described hereinbelow situated at number 123 calle Josep Tarradellas,
post code 08029 (Barcelona). As for the office, it is hereby confirmed that it is situated on the 7th floor of the building, and is described as follows: 
  

	1.	 “URBAN PROPERTY - UNIT NUMBER EIGHT A property situated on the SEVENTH floor of building Nos. 123-127 Avenida Infanta Carlota Joaquina, currently
Josep Tarradellas, in Barcelona, intended for office use and which occupies the part of said floor facing said Avenue, on the corner of calle Rita Bonnat, with 

  

					
			2		
			
					

	 	 
useful area of one thousand and seventy-eight square metres forty-three square decimetres. ADJACENT: in the North, partly to Pablo Gayá‘s property and partly with the light shaft and
partly with the stairwell and general-use lifts of the building; in the East, to the vertical projection to the Avda. Infanta Carlota Joaquina; in the South, partly with the stairwell and the lift shaft and partly to the vertical projection to calle
Rita Bonnat; in the West, to the stairwell and the general-use lifts of the building, partly to the interior block courtyard above the storehouse of the first property and partly to the existing terrace above property number 7; above, to properties
numbers 9 and 10; and below, with number 6 on the floor below. A coefficient of six point one zero eight four per cent. (6.1084%) corresponds to it in the horizontal property plan.” 

Registered: Property Register number 7 of Barcelona, volume 983 of book 983, folio 72, property number 8255, 4th entry. 

Title: Title is held by Infanta Carlota 123 S.L. as the owner, by virtue of the sale and purchase deed signed before the Notary of
Barcelona Mr Javier García Ruiz on 29 July 1999. 
 Number in the cadastre: 8425313DF2882E0016YI. 

It is hereinafter referred to as the “Property”. 

The Property is currently divided into two parts: (i) “Property A”) and (ii) “Property B”.
Enclosed as Annex 1 is the plan of the Property that shows its division and the surface of Property A and Property B. 
  

	2.	 “Three parking spaces with numbers 56, 57 and 58, which form part of the following registered unit: “URBAN [PROPERTY]: UNIT NUMBER ONE - BASEMENT
with the loft of building number 123,125 and 127 on Avenida Josep Tarradellas (formerly Infanta Carlota Joaquina), in Barcelona, with entrance and exit via calle Rita Bonnat, with intended use as a warehouse, with various dependencies, and has a
built-up surface area, including the loft, of two thousand six hundred and sixty-nine square metres ninety square decimetres, and useful area of two thousand five hundred and one square metres seventy-three square decimetres. Adjoins: in the south,
to the subsoil of calle Rita Bonnat, to which it has an exit through a staircase; in the north, to the subsoil of Pablo Gayá‘s property, partly to Martin Vilaseca’s property and partly to the basement of house numbers 24 and 26 in
Loreto street and partly to the subsoil of the Comercio y Producción, S.A. property.” 

 The parking
spaces registered: Property Register number 7 of Barcelona, volume 882, folio 169, property 8.241. 
 Title: Title is held by virtue
of the public deed issued before the Notary of Barcelona Mr José-María Costa Torres on 29 July 2003 under number one thousand nine hundred and twenty-seven of his protocol. 

Number in the cadastre (common for the whole of the registered unit): 8425313DF2882E0001JL. 

The above three parking places are hereinafter referred to as the “Parking Spaces”. 

  

					
			3		
			
					

 2nd.- That Property A is currently vacant and available. 

3rd.- Property B is currently occupied by the Lessor. 

4th.- Having stated the above, the Lessee and the Lessor have agreed the legal and economic conditions that shall govern the lease relationship between
both Parties in respect of the Property and the Parking Spaces, and that are set out in this agreement and in the other Annexes and additional documents that may be signed. 

5th.- In view of the above, the Parties, mutually acknowledging that they have the legal capacity necessary for this purpose, agree to sign this LEASE
AGREEMENT FOR NON-RESIDENTIAL USE for the Property and the Parking Spaces (hereinafter referred to as the “Agreement”), subject to Law No. 29/1994 of 24 November on urban leases (hereinafter referred to as the
“LAU”), and pursuant to the following 
 III. Articles 
  

	1.	 Subject of Agreement 

 By this
Agreement, the Lessor leases to the Lessee, who in turn accepts the lease, the Property and the Parking Spaces described in the First Recital hereinabove. 
  

	2.	 Intended Use 

 The Property
subject to this Agreement shall be used only and exclusively as an office, and the parking spaces shall be used for the parking of vehicles. 
  

	3.	 Term of Lease and Return of the Property and the Parking Spaces 

3.1  Term. Without prejudice to that which is set out in Article 3.4 below, the term of the Agreement is agreed till 31 December
2017. 
 3.2  Extension. The Lease Agreement shall be extended automatically for an additional three-year period, i.e. from
1 January 2018 to 31 December 2020, unless the Lessee informs the Lessor in good faith of the waiver of said extension before 14:00 hours on 30 June 2017. 

3.3  Automatic Termination. Once the period set out in paragraph 3.1 above or, as the case may be, the extension provided for in
paragraph 3.2 above has passed, the Lease Agreement shall be terminated automatically without the Parties having to make any prior notice whatsoever. 

3.4  Compulsory Compliance. It is established as a condition precedent that the Lease Agreement shall be binding on the Lessee during
its whole term set out in paragraph 3.1 above (i.e. till 31 December 2017) and equally, should the extension provided for in paragraph 3.2 above occur, during the whole duration thereof. Consequently, if the

  

					
			4		
			
					

 
Agreement is withdrawn from before the end of said initial term or extension, or if it is terminated due to a cause attributable to the Lessee, the latter shall pay the Lessor as damages and as a
penalty clause a lump sum determined by mutual agreement without the need to certify the actual damages and without possible moderation by courts and tribunals in the amount equivalent to the rent, costs and fees corresponding to the period
remaining in such term. 
 3.5 If the Agreement is terminated for any reason, the Lessee shall return the Property and the Parking Spaces to the
Lessor in the same condition in which they are handed over, except normal wear and tear, which shall be accepted. The Lessor may authorise the maintenance of all the upgrades and improvements made by the Lessee but may in any case request that the
latter remove all those elements and installations of their property that may have been added and/or modified by the Lessee. 
 3.6 The Lessee may
carry out refurbishment works in the Property without modifying the structure or the stability of the building. For this purpose they may submit to the Lessor the approved design, understood to have been approved within 10 business days (with the
exclusion of Saturdays and holidays). The Lessor may only object for a justified cause, which they shall explain. After 10 working days (with the exception of Saturdays and holidays) have passed without response from the Lessor, it shall be
understood that they give their consent to the works. The works shall be done under appropriate optional supervision pursuant to the applicable regulations and with the relevant licence having been obtained previously. 

At the time of the termination of the Lease Agreement or of the lease agreement for the eighth floor, the Lessee shall restore the Property to its
current condition. Nevertheless, the Lessor may exempt the Lessee from said obligation of restoration, in which case the performed works shall be to the exclusive benefit of the Lessor, while the Lessee may not claim any indemnification or
compensation whatsoever for it. 
  

	4.	 Handover 

 4.1  The
Parking Spaces shall be made available to the Lessee on the signing date of this Agreement. 
 4.2  Property A shall be made available to
the Lessee herewith. 
 4.3  Equally, Property B shall be made available to the Lessee on 5 December 2014 having previously been
vacated by the Lessor. 
 4.4  If on 5 December 2014 the entire Property has not been handed over to the Lessee, the latter may demand
that the Lessor hand it over. 
 4.5  If by 6 February 2015 the Property (i.e. Property B) has not been handed over to the Lessee, the
latter may withdraw from the Agreement insofar as said Property B, while it shall survive in respect of Property A. 

  

					
			5		
			
					

 4.6  The Lessee shall not be obliged to pay rent to the Lessor until 5 December 2014,
provided the Property has been handed over by that date. 
 4.7  Equally, if the handover of Property B is delayed, the term of the
Agreement shall be extended for the entire Property by the same period. 
  

	5.	 Rent and Revision 

5.1  The rent payable by the Lessee for the lease shall be fixed at (i) SEVENTEEN THOUSAND EIGHT HUNDRED AND NINETY-TWO EUROS (€17,892.00) per month for the Property; and FIVE HUNDRED AND FIFTY EUROS (€550.00) per month for the Parking Spaces, at the rate of 250 Euros for space
No. 56 and 150 Euros for spaces Nos. 57 and 58. The total Rent shall comprise EIGHTEEN THOUSAND FOUR HUNDRED AND FORTY-TWO EUROS (€18,442.00) (the “Rent”). The Rent shall be
increased by the relevant Value Added Tax (hereinafter referred to as “VAT”), a tax that shall apply as set out in paragraph 11.1 of this Agreement. 

5.2  Subject to the Lessee receiving the Property in the current condition and subject to the actual refurbishment works to be performed by
the Lessee in the Property, the Parties agree, provided Property B is handed over by the Lessor on 5 December 2014, a grace period for the payment of the relevant rent for the Property till the Property is handed over, such that the first rent
is accrued on 5 December 2014, always provided the Property has been made available to the Lessee. 
 The receipt for the first rent shall be
issued, as the case may be, for the amount pro rata to the days passed since the end of the grace period and the start of the next following month. 

As of the start of the month following the end of the grace period, the rent shall accrue for its total amount set out in paragraph 5.1 above (not
including VAT). 
 5.3  The agreed rent shall be revised annually as of 1 January 2016 based on the increase of the Consumer Price
Index. Further revisions shall be made every 1 January counted from said date according to the changes to the Consumer Price Index (referring to the national inflation average), whether an increase or a decrease, published by the National
Institute for Statistics or by the organisation that may replace it, applying to the rent corresponding to the previous annual payment the percentage change experienced by said Index in the period of twelve months immediately prior to the date of
each adjustment. Should the above particular index no longer be published, the relevant index replacing it of the indices published by the National Institute for Statistics or the organisation that may replace it shall apply. 

5.4  Taking into account the fact that the data of the National Institute for Statistics or the organisation that may replace it are published
with a delay and as a result, if the month in which the already revised rent would have to be charged has started and the basis or coefficient corresponding to such date are not yet known, the Parties expressly agree that the corresponding increases
according to the revision system agreed in this Agreement 

  

					
			6		
			
					

 
shall apply retroactively to the date on which the already revised rate must start to be charged, while the relevant additional receipts shall be issued once the necessary data of the above
National Institute for Statistics or the organisation that may replace it are known, while it may not be assumed in any case that the Lessor shall waive their collection. 

5.5  The Lessee shall pay to the Lessor’s account, based on the Consumer Price Index of the latest published monthly payment, the amounts
corresponding to the increases following from this Article on revision, which shall not be final, while the settlement corresponding to the retroactive effects provided for shall be carried out, when the final indices are known. 

5.6  Should the Lessee fail to pay the rent within the set period, they shall pay interest for the delay at the EURIBOR one year rate plus
four point five (4.5) percentage points. Said interest shall accrue daily and shall be charged in the receipt for the rent corresponding to the month immediately prior to the one in which the delay occurred. The payment of said penalty shall
not grant the right to delay the rent payments, while the Lessor may initiate relevant actions as the case may be. 
 5.7  If the coming
into effect of this Agreement does not coincide with the start of the calendar month, a receipt for the rent corresponding to the Parking Spaces shall be issued pro rata to the days of validity of the lease in said month. 

5.8  The total amount of fees for the property owners’ association to which the leased Property and Parking Spaces belong, as well as the
Real Estate Tax corresponding to them shall be to the account of the Lessee. For the purposes of that which is set out in article 20 of the LAU, the Lessor hereby declares that said costs currently comprise THIRTY-ONE THOUSAND THREE HUNDRED AND
SEVENTY-NINE EUROS FOUR CENTS (€31,379.04) per annum, comprised of €13,740 in property owners’ association fees on the Property, €16,479.04 in Real Estate Tax on the Property, and 1,160.00 Euros in property owners’ association fees on the Parking Spaces (which comprises the Real Estate tax on same). 

 

	6.	   Rent Payment 

 The
payment of the rent and the other expenses which pursuant to the Law and the Articles of this Agreement may be passed on or charged to the Lessee shall be made in advance, within the first five (5) business days of each month, and the relevant
receipts shall be debited directly to the bank current account of the Lessee No. ES78 0065 0145 3800 0152 0694 for this purpose. 
  

	7.	   Utilities and Accounting 

7.1  The Property is leased in the current condition of the existing general and branch line connections or lines corresponding to same for
the utilities that the real estate is provided with. 
 7.2  The amount corresponding to the consumption of all said utilities that they may
have made since the effective date of the 

  

					
			7		
			
					

 
Agreement till its termination for any reason shall be to the Lessee’s account. The utilities for consumption prior to the effective date shall be to the account of the Lessor. 

7.3  The Lessee is free to agree with the relevant suppliers any or all of the utilities that the Property may or might be provided with,
exempting the Lessor of any responsibility whatsoever. 
  

	8.	   Maintenance and Works 

8.1  The Lessee declares that they are aware of the characteristics and maintenance condition of the Property and that they expressly accept
them. In case of pre-existing failures or defects, the Lessee shall have a period of 15 days to inform the Lessor thereof, while the latter shall rectify them promptly and diligently. After such period has passed, the Property shall be understood to
have been received satisfactorily and in good condition. As for the installation of air conditioning, the Parties agree that during the term of the Agreement the Lessee shall become responsible for the condition and correct functioning of said
climatisation equipment, for which purpose they shall bear the costs of maintenance, repair and upkeep of said equipment. 
 8.2  The Lessor
shall only carry out the repairs that may be necessary to maintain the Property in the conditions necessary for the agreed use, except where the repair concerns wear that may be deemed to be attributable to the Lessee pursuant to that which is set
out in article 30 of the LAU. The maintenance and repair works that wear and tear by normal use of the Property and its installations may require shall be to the account of the Lessee. 

8.3  The Lessor shall authorise any upgrade, refurbishment and work that the Lessee may wish to perform in the Property, including
installations and utilities, and shall not authorise said works if they mean a danger or damage to the structure of the real estate or of the Property, weaken the materials used in the construction or affect common elements of the building (which
for this purpose shall be confirmed by the Lessee through presentation to the Lessor before the start of the works of the relevant plan, design and work memorandum, qualities and finishes). 

8.4.  The Lessor shall hand over to the Lessee before handing over the possession of the Property a copy of the energy efficiency certificate
corresponding to same. 
 8.5.  Emergency Staircase 

8.5.1. The Lessee hereby states that they know and accept that the Property Owners’ Association of the building in which the
Property is situated has agreed to the possibility of an emergency staircase being built, which would pass through all the floors of the building and which would occupy, in purely tentative terms, approximately 6 square metres of the surface of the
Property. Enclosed as Annex 2 is a copy of the plan that shows the surface that, as the case may be, will be taken up by said emergency staircase. 

8.5.2. In case construction of said staircase is carried out, the Lessee, while expressly waiving that which is set out in article 30 in
conjunction with articles 22 and 26 of the LAU, agree to facilitate technicians and workers access insofar as it may be necessary and to tolerate said works, which shall be performed such that inconvenience to the Lessee is minimised as much as
possible. Without prejudice to the obligations of 

  

					
			8		
			
					

 
the Property Owners’ Association, the Lessor assumes before the Lessee the cost of the works, including the finishes of the affected zone of the Property, such that they remain in conditions
similar to those existing before the start of the works. The Lessor shall indemnify and hold the Lessee harmless for any claims that may result from the construction of said staircase. 

8.5.3. If said construction is carried out, the monthly rent for the Property and the costs (including the property owners’
association fees and Real Estate Tax) shall be reduced as of the starting date of the works pro rata to the surface of the Property that may be occupied by said emergency staircase. During the works, the rent shall be reduced taking into account the
harm that the Lessee may suffer as a consequence thereof. 
  

	9.	   Permits and Licences 

9.1  The Lessor is exempt of any responsibility in case the existing opening Licences or permits are revoked or become invalid and the
Property is ordered to close, except where it is caused by serious negligence or bad faith attributable to the Lessor. 
  

	10.	   Signs 

 10.1 The
Lessee may install certain advertising signs and/or notices that they may deem convenient with prior consent of the Lessor, provided that said installation complies with the applicable regulation and has obtained the permits and licences necessary
for its correct installation, adapting them to the applicable general rules of the property owners’ association of the real estate to which the leased Property belongs, and, as the case may be, upon prior consent of said association. The taxes,
fees and permits required for said installations shall be to the Lessee’s account. 
 10.2 If the installation of signs involves works, that
which is set out in Article 8.3 above shall apply. In any case, should the Agreement be terminated for any reason, the Lessee shall remove, at their expense and with full indemnification for the Lessor, any notices they may have installed
whatsoever, leaving the place where they may have been installed in the current condition. 
  

	11.	   Taxes and Tax Withholding 

11.1 The Agreement is subject to Value Added Tax (VAT), which shall be passed on to the Lessee in each one of the monthly rent receipts, pursuant to
that which is set out in the Law and the Regulation of said tax, i.e. for the amount that may result from the application of the rate applicable to the rent at any time and other amounts that may constitute the tax base on the date of accrual. 

11.2 The Lessee shall also pay the taxes, charges, fees and generally all the contributions or levies of any type that may be charged or withheld from
the Property and the Parking Spaces for the reason of their activity. 

  

					
			9		
			
					

 11.3 Lacking confirmation of the cases in which the withholding provided for in Royal Decree 113/1998 of
30 January should not apply, the Lessee shall proceed with withholding an appropriate amount for its depositing in the Tax Office. 
  

	12.	   Transfer and Sublease 

12.1 The Lessee may not transfer or assign this Lease Agreement without prior written consent of the Lessor. 

12.2 The Parties agree that the Property and the Parking Spaces subject to this Agreement may not be subleased by the Lessee without express prior
written consent of the Lessor. 
 12.3 An exception is made from that which is set out in Articles 12.1 and 12.2 above for transfer or sublease in
favour of the business group of the Lessee, which shall not require the consent of the Lessor, which hereby authorises it and consents insofar as necessary, also expressly waiving any increase of the rent in case of said transfer or sublease. 

 

	13.	   Security and Guarantee 

13.1 Security: On the day following the signing of this Agreement, the Lessee shall hand over to the Lessor the security, which shall comprise
THIRTY-SIX THOUSAND EIGHT HUNDRED AND EIGHTY-FOUR EUROS (€36,884.00), equivalent to two (2) monthly rent payments (including rent for the Property and for the Parking Spaces) by transferring it into
the Lessor’s current account 2100 2903 68 0200096180. 
 The above amount shall correspond, insofar as it is sufficient, to the performance of
the obligations assumed by the Lessee by virtue of the Agreement, pursuant to that which is set out in article 36 of the LAU. 
 The amount of the
security shall be deposited by the Lessor with the competent organisation and within the set legal period, while it shall not be subject to any adjustment whatsoever during the entire term of the present lease. The Lessor shall hand over to the
Lessee a copy of the supporting documentation of said deposit. 
 13.2 Bank Guarantee: Furthermore, in order to guarantee the performance of
all the obligations following from this Agreement, the Lessee hereby undertakes to hand over, at time of the handover of possession of the entire Property, a first demand bank guarantee, while waiving the benefits of division, exlcusion and
priority, in the amount of ONE HUNDRED AND TWENTY-SIX THOUSAND THREE HUNDRED AND FORTY-ONE EUROS FIFTY-TWO CENTS (€126,341.52) equivalent to six (6) monthly rent payments (including the rent for
the Property and the Parking Spaces) and costs (property owners’ association fees and Real Estate Tax). 
 13.3 Should these guarantees be
executed fully or partly, the Lessee shall replace them for the relevant guarantee amount set out in the previous paragraphs. 
  

	14.	   Expiry of the Agreement 

  

					
			10		
			
					

 The Agreement shall expire in the following cases: 

(a)      Upon the passing of the term of the Agreement or notice of termination of same on the terms of Article 3. 

(b)      Upon mutual agreement between the Parties made in writing. 

(c)      Due to substantial failure by either of the Parties to meet any of the obligations set out in the Agreement,
except where such failure to meet obligations is rectifiable and is rectified within thirty (30) business days following the date on which notice is made to the non-complying Party requiring it to rectify it. After said period has passed
without the non-compliance having been rectified, the notifying Party may declare the Agreement terminated by written notice to the non-complying Party and claim the damages that may correspond to it. 

(d)      For legal or contractually stipulated reasons. 

On the expiry date of the Agreement, the Lessee shall return the Property and the Parking Spaces pursuant to that which is set out in Article 3, and
Lessor shall return the guarantee referred to in Article 13, provided that at the time of expiry of the Agreement the Lessee is up to date with rent payments or, if not, the amount of the outstanding rent payments exceeds the amount of the security
and that, after the condition of the Property and the Parking Spaces has been inspected, no damage is observed that may exceed the amount of the security. The Lessor may keep the security until the Lessee has paid the amounts owed for utilities or
outstanding rent payments, after which the Lessor shall return the security within ten (10) business days of such payment. 
 Equally, the Lessee
waives the pre-emptive right, right of first refusal and right to repurchase in respect of the Property and the Parking Spaces provided for in Article 31 of the LAU, while in any case the Lessee shall notify the Lessor of their intention to sell at
least thirty days in advance of the date the sale and purchase is formalised, on the terms of article 25.8 of the LAU. 
 15. The Lessee’s Declarations and
Obligations 
 15.1.1  The Lessee assumes direct and exclusive responsibility and exempts the Lessor of any liability for the damages
that may be caused to persons or things and that may follow from the possession of and the activity carried out in the Property and the Parking Spaces and from the functioning of its installations, while exempting the owner/lessor of all liability.

 15.1.2  The Lessee hereby undertakes to pay the agreed monthly rent, increases and similar amounts 

15.1.3  The Lessee hereby undertakes to maintain an insurance policy that is sufficient and adequate in order to take responsibility for the
damages and harm that may be caused to the contents of the Property, as well as to third parties or to the customers and employees of the enterprise both due to the activities carried out in the Property as well as due to possession of same and due
to 

  

					
			11		
			
					

 
the functioning of its installations, while exempting the owner/lessor of all liability. 
 16. The
Lessor’s Declarations and Obligations 
 16.1  The Lessor hereby undertakes to meet all the obligations that correspond to them by
virtue of this Agreement. 
 16.2 The Lessor hereby undertakes that a sufficient and adequate insurance policy will exist and be maintained in force,
contracted by the Lessor themselves or by the property owners’ association, in order to take responsibility for the damages and harm that may be caused to the container (building) of the Property and the Parking Spaces as a result of disasters
whose cause may be the container (such as problems of air tightness, pipes, coverings, general-use installation etc.). 
 16.3 The Lessor hereby hands
over to the Lessee the Energy Efficiency Certificate of the Property pursuant to that which is set out in Royal Decree 235/2013 of 5 April, which approves the basic procedure for energy efficiency certification of buildings. 

17. Rules of Interpretation 
 17.1 Headings 

The headings and the table of contents used in the Agreement are only included for reference purposes and do not affect its interpretation. 

17.2 Prevalence 
 Should there be contradictions
between the contents of an additional document or an annex and the contents of the Articles of the Agreement, preference shall always be given to the letter, spirit and purpose of the latter, except where expressly set out otherwise. 

17.3 Severalty and Supplementation of the Articles 

The unlawfulness, invalidity or ineffectiveness of any of the Articles of the Agreement shall not affect the effectiveness of the rest, provided that
the rights and obligations of the Parties following from the Agreement are not affected in a substantial manner. Substantial shall be understood as any situation that may gravely damage the interests of either of the Parties or that may affect the
actual subject of Agreement stipulated in Article 1. Said Articles shall be replaced by and supplemented with others, which, being compliant with the law, may meet the purpose of those replaced. 

17.4 Prevalence and Modifications of the Agreement 

The Agreement constitutes the whole agreement reached between the Parties until its signing date in respect of the subject matter contained in same and
replaces and revokes any prior agreements in relation to its subject. 

  

					
			12		
			
					

 The modifications that may be made to the Agreement shall be written up in a document signed by the
Parties. 
 17.5 Waiver 
 It shall not be
understood that the Parties have waived any of the rights resulting from the Agreement or derived from failure to comply with same, except where such waiver is made expressly and in writing pursuant to this Agreement. 

If either of the Parties waives any of its rights following from the Agreement or from any failure by the other Party to comply pursuant to the previous
paragraph, such waiver shall not be interpreted in any way as the waiver of any other right resulting from the Agreement or from any non-compliance by the other Party, even if they are similar. 

18. Notices 
 18.1 Form 

All the communications and notices that the Parties are to make to each other by virtue of the Agreement or that may be associated with same shall be
made in writing and by way of: 
 (a)      hand delivery with written confirmation of receipt by the other Party; 

(b)      notary public; 

(c)      certified fax with confirmation of receipt and certification of the contents; or 

18.2 Address and addressees 
 The communications and
notices between the Parties shall be sent to the addresses and for the attention of the persons shown below. 
 For the Lessor: 

BASSAT PARTNERS, S.L. 
 Av. Josep Tarradellas 123, 7° 

08029 Barcelona 
 For the Lessee: 

KING SHARED SERVICES, S.L 
 Av. Josep Tarradellas
número 123, 6a planta 
        8029 Barcelona 

18.3 Changes 
 Any change to the addresses or
persons for the purposes of notifications shall be communicated to the other Party forthwith pursuant to the rules 

  

					
			13		
			
					

 
set out in this Article. Insofar as a Party has not received notice of such changes, the notices made by it pursuant to said rules according to the original details shall be understood to be made
correctly. 
  

	19	 Applicable Law 

 19.1 This
Agreement shall be governed by that which is provided for in same, failing that by that which is set out in Title III of the effective LAU and, failing that, by that which is set out in the Civil Code. 

 

	20	 Data Protection 

 20.1 Pursuant
to Law 15/1999 on Personal Data Protection, the representatives of both Parties acknowledge that they are informed and agree for the personal details reflected in this Agreement to be included in the respective files of each Party at the address
stipulated in the heading of the Agreement with the main objectives of complying with the development of same, of sending documentation relating to it and maintaining the historical data. 

In the case of providing information on third parties for the performance of the Agreement, each Party shall have previously informed them and asked for
their consent for the ends set out herein. 
 20.2 Each Party hereby undertakes to make known to the other Party any variation of the personal details
that may be provided for the performance of the Agreement so that they may be updated; otherwise, it shall be understood that the details have not been modified and are accurate and current. 

If it is desired to exercise the rights of access, rectification, cancelation and objection, please send a letter with a copy of the ID card to the
address shown in the heading of this Agreement, marking the envelope “Data Protection”. 
  

	21	 Jurisdiction 

 21.1 The Parties
agree to subject any litigation resulting from the performance or interpretation of the Agreement to the courts and tribunals of the city of Barcelona while expressly waiving their own jurisdiction if covered by a different one. 

 

	22	 Notarisation of the Agreement and Its Registration in the Property Register 

The Parties hereby undertake to notarise this Agreement and to have it registered in the Property Register whenever any one of the Parties may request
it. The cost of such notarisation and registration shall be paid by the Party that has requested it. 
 The Parties sign this Agreement as proof of
approval of that which is set out hereinabove in duplicate and for a single purpose in the place and on the date shown in the heading. 

  

					
			14		
			
					

 /s/ YOLANDA BASSAT ORELLANA 

The Lessor 
 Ms YOLANDA BASSAT ORELLANA, BASSAT PARTNERS,
S.L  
 /s/ RICCARDO ZACCONI 
 The Lessee 

Mr RICCARDO ZACCONI, KING SHARED SERVICES, S.L 

 DIRECT DEBIT MANDATE 
  

			
	                    Creditor/Issuer		 
	 Name:
		 Bassat Partners S.L.

	 Address:
		 Av. Josep Tarradellas, 123 7°

	 Post code:
		 08029

	 Place:
		 Barcelona

	 Taxpayer Identification Number:
		 B-58.274.648

		
	                    Debtor		 
	 Name:
		 KING SHARED SERVICES S.L.

	 Address:
		 Avenida Josep Tarradellas, 123, 6a planta

	 Post code:
		 08029

	 Place:
		 Barcelona

	 Taxpayer Identification Number:
		 B-66.036.906

 By signing this Direct Debit Mandate, the Debtor authorises the Creditor/Issuer to send repeat instructions to the
Debtor’s financial institution in order to debit to the account of the debtor himself repeatedly the relevant amounts, according to the instructions of the Creditor/Issuer. 

 

																																															
	 BIC of the Debtor’s financial institution (8 digits):

	 B   		 A   		 R   		 C   		 E   		 S   		 M   		 M   																																
										
	 Number of the Debtor’s account (IBAN) (24 digits):
																		
	 E   		S		7		8		0		0		6		5		  0   		 1   		 4   		 5   		 3   		 8   		  0   		  0   		  0   		 1   		 5   		 2   		  0   		 6    		 9   		 4 

 Barcelona, 10 November 2014 
  

					
	 Signature
		  
		
			
	 Name and surnames          
		  
		

  
 15 

 ANNEX 1 - PLAN OF THE PROPERTY 

  

					
					
			
			16		

 [figure]        /s/ Carrer de RITA BONNAT 

Carrer de RITA BONNAT 
 Mechanical Room 

Av. de JOSEP TARRADELLAS 
 7th FLOOR 

Scale 1/200 

 Annex 2 

PLAN OF THE EMERGENCY STAIRCASE 

  

					
					
			
			17		

 /s/ Carrer de RITA BONNAT 

Carrer de RITA BONNAT 
 [illegible] Room 

Private property 5.1 
 Staircase 2 

[illegible] 
 Room 

[illegible] 
 Staircase 1 

[illegible] 
 Private property 5.2 

Private property 5.3 
 Independent lobby 

Staircase 3 
 Av. de JOSEP TARRADELLAS

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