Document:

Exhibit 10.26

 

TRADEMARK LICENSING AGREEMENT

 

BETWEEN THE UNDERSIGNED PARTIES:

 

CASINO-GUICHARD, PERRACHON, public company with share capital of €173,051,921.43, registered in the Trade and Companies Register of Saint Etienne under No. 554 501 171, having its registered office at 1 Esplanade de France in SAINT ETIENNE (42000),

 

Represented for these presents by Mr Pascal RIVET, duly authorised for this purpose,

 

Hereinafter referred to as “CGP” or the “Licensor”,

ON ONE HAND

And,

 

CDISCOUNT, public company with share capital of €5,162,154, registered in the Trade and Companies Register of Bordeaux under No. 424 059 822, having its registered office at 120-126 Quai de Bacalan 33067 Bordeaux

 

Represented for these presents by Mr Emmanuel Grenier, duly authorised for this purpose,

 

Hereinafter referred to as “CDISCOUNT” or the “Licensee”,

 

ON THE OTHER HAND,

 

Hereinafter referred to individually as the “Party” and jointly as the “Parties”.

 

IT BEING SET FORTH BEFOREHAND THAT:

 

CGP holds the French trademark FINLANDEK No. 12 3 924 832 filed on 5 June 2012 for classes 8, 9, 11, 14, 20, 21, 24, 26, 27, 34, as attached to these presents.

 

In connection with its online sales activity, CDISCOUNT wants to sell, under the FINLANDEK trademark.

 

The Parties thus came together to define the terms and conditions under which CGP accepts to grant CDISCOUNT a license for the FINLANDEK trademark.

 

1

 

THE FOLLOWING WAS AGREED:

 

ARTICLE 1 — PURPOSE

 

The present agreement and its appendices (hereinafter referred to as the “Agreement”) has the purpose of defining the terms and conditions under which CGP grants, on a non-exclusive, personal and irrevocable basis, to CDISCOUNT, which accepts, a license for the FINLANDEK trademark (hereinafter referred to as the “Trademark”), for which the certificate of registration is attached in Annex 1.

 

ARTICLE 2 — SCOPE OF THE RIGHTS GRANTED

 

2.1       The license to the Trademark is granted to CDISCOUNT in order to manufacture, distribute, market, promote and sell:

 

·                  the products designated in the Certificate of Registration attached in Annex 1 only (hereinafter referred to as the “Products”),

·                  within the territory of France (hereinafter “the Territory”).

 

This license includes in particular:

· the reproduction,

· the use, and,

· the affixing of the Trademark,

 

on the Products and on any other medium, especially promotional medium.

 

2.2       At the request of CDISCOUNT, CGP will register any additional “FINLANDEK” trademark (in order to extend the number of classes and/or the Territory and subject to availability concerning the classes/territories requested) and will grant Cdiscount a license for the trademarks and/or extensions considered, under the same conditions as the present license. Any additional granting will be formalised by amendment to the present Agreement.

 

ARTICLE 3 - OPERATION

 

3.1.    CDISCOUNT undertakes to utilise the Trademark concerning the Products effectively, honestly, continuously and seriously.

 

3.2.    CDISCOUNT undertakes to use the Trademark consistently with the positioning of the Licensor, concerning the quality and the product line level and concerning the target customers. CDISCOUNT nevertheless remains free concerning its sales policy (advertising, distribution, selling price, etc.) of the Products.

 

3.3.   CDISCOUNT undertakes to comply, in all of its provisions, with the graphics standards of the Trademark attached in Appendix 2. Without the Licensor’s prior written consent, CDISCOUNT shall refrain from adapting or modifying the Trademark or attaching any other term or representation thereto.

 

3.4.    CGP grants CDISCOUNT full freedom in the choice of the manufacturer(s), as well as in the form of distribution, marketing and selling of the Products to the consumers or professionals.

 

ARTICLE 4 - OWNERSHIP

 

4.1.    CDISCOUNT acknowledges that the present Agreement does not entail any transfer of ownership of the Trademark for its benefit.

 

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4.2.    CDISCOUNT shall refrain from carrying out any protection of the Trademark in particular for products or services not targeted in its certificate of registration and/or for other territories, and/or any derived breakdown of the Trademark.

 

4.3.    CGP undertakes to carry out at its own expense, all formalities necessary for maintaining the protection of the Trademark within the Territory.

 

ARTICLE 5 - PROTECTION

 

5.1.    CGP undertakes to insure at its own expense the follow-up and protection of the trademark.

 

5.2       The Parties also undertakes to keep each other informed of all violations of the Trademark that they may become aware of.

 

5.3.    As soon as an infringement of the Trademark has been disclosed to the Licensor, the Parties will cooperate concerning the scope, the legitimacy and the harmful consequences of the acts in order to take all measures useful to have them stopped.

 

5.3. [sic] Unless otherwise agreed in writing beforehand by the Licensor, the Licensor will be solely authorised to take any measure useful for stopping the said infringement, if it deems this necessary. CDISCOUNT will nevertheless provide its full assistance, at its own expense, to the Licensor in this connection.

 

ARTICLE 6 — GUARANTEE / LIABILITY

 

CGP guarantees CDISOUNT:

 

· that the Trademark is not currently the subject of any litigation, complaint or contestation of any kind and on any basis whatsoever,

 

· against any decision, complaint, claim or objection on the part of third parties against CDISCOUNT concerning the Trademark.

 

ARTICLE 7 — ROYALTY

 

Since the Trademark has not been utilised by the Licensor at on the date of signing of these presents, CGP accepts to grant CDISCOUNT the rights referred to in the Agreement free of charge for a period of 2 years.

 

At the end of the said period, the Parties undertake to discuss in good faith any royalty to be paid by CDISCOUNT to CGP.

 

The Parties agree that the following will be taken into account in any definition of a royalty, in particular the investments made by CDISCOUNT to develop the Trademark.

 

Failing an agreement between the Parties, 3 months after having started the said discussions, the amount of the royalty will be set according to expert.

 

3

 

ARTICLE 8 - DURATION - CANCELLATION

 

8.1.    The Agreement takes effect retroactively as of 1 March 2014 for a period of 10 years, subsequently renewable by tacit renewal for successive periods of the same duration.

 

8.2.    Each Party will have the right to terminate the Agreement by registered letter with acknowledgement of receipt sent no later than 2 years before the expiration of the Agreement or its renewals.

 

8.3       It is expressly agreed between the Parties that the Agreement will be terminated by rights, without notice or formality, if the CASINO Group fully pulls out of the share capital of CDISCOUNT.

 

8.4.    The Agreement may also be terminated by rights in case of non-fulfilment by one of the Parties of any of its obligations stipulated in these presents, namely one (1) month after formal notice sent to the Defaulting Party by registered letter with acknowledgement of receipt and having remained completely or partially ineffective during this period, namely without prejudice to the other right of the non-defaulting Party.

 

8.4.    At the termination of the Agreement for any reason whatsoever, CDISCOUNT undertakes to cease any utilisation of the Trademark, in any form and on any basis whatsoever, and to return to the Licensor, at its first request, all of the documents or media in its possession showing the Trademark.

 

8.5.    With the exception of a termination due to CDISCOUNT’s fault, under the conditions stipulated in Article 8.5 above, CDISCOUNT will have a period of 12 months after the date of termination of the Agreement to sell of its stocks of Products bearing the Trademark.

 

ARTICLE 9 — MISCELLANEOUS

 

9.1.    Any modification of the Agreement will be effective only by the signing of a written amendment which will take effect only after it is signed by both Parties, stating their explicit intention to amend the Agreement.

 

9.2. The invalidity of all or a portion of a clause of the Agreement will not affect the validity and the existence of the other clauses of the Agreement.

 

9.3.    The fact of not utilising at a given time any of the clauses of the Agreement does not entail a waiving of the said clause for the future.

 

9.4.    The Agreement constitutes the entirety of the Parties’ agreements concerning its purpose and replaces any other prior written or oral agreement between the Parties.

 

ARTICLE 10 — DISPUTE

 

10.1. The Agreement is governed by French law.

 

10.2. Any contestation concerning its validity, its interpretation or its execution will be subject to the exclusive competence of the Courts of Paris.

 

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ARTICLE 11 — FORMALITIES

 

CDISCOUNT will carry out at its own expense, the necessary formalities with all competent authorities, in particular for the registration of the Agreement with the INPI [French National Institute of Industrial Property]. The present Agreement is drafted in two originals, one for each Party

 

	
 
    	
 
    
	
Signature for CGP:
    	
Signature for CDISCOUNT:
    
	
 
    	
 
    
	
Pascal RIVET
    	
Emmanuel GRENIER
    
	
 
    	
 
    
	
Done on 16 May 2014
    	
 
    

 

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APPENDIX 1

CERTIFICATE OF REGISTRATION OF THE TRADEMARK

 

6

 

REPUBLIC OF FRANCE

 

INPI [FRENCH NATIONAL INSTITUTE OF INDUSTRIAL PROPERTY]

 

for commerce or service

 

CERTIFICATE OF REGISTRATION

 

The General Director of the National Institute of Industrial Property certifies that the trademark reproduced on the reverse has been registered.

 

The registration takes effect as of the date of filing of the application for a period of ten years renewable indefinitely.

 

This registration will be published in Official Bulletin of Industrial Property.

 

No. 12/39 Vol. II of 28 September 2012

 

The General Director of the

National Institute of Industrial Property

 

[signature]

 

Yves LAPIERRE

 

Registered office: 26bis, rue de Saint-Petersbourg — 75800 PARIS Cedex 08 — Telephone: 0 820 213 213 — Fax: 33 (0) 1 53 04 45 23 — www.inpi.fr — contact@inpi.fr

National public institution founded by Law No. 51-444 of 19 April 1951

 

 

[Seal]

 

	
 
    	
641 - 1 / 1 - 0000 0
    
	
 
    	
 
    
	
 
    	
CABINET [law firm] GERMAIN MAUREAU
    
	
 
    	
12 RUE BOILEAU
    
	
 
    	
69006 LYON
    

 

National No.: 12 3 924 832

 

Filing of: 5 JUNE 2012

 

to: DEPOT ELECTRONIQUE PARIS

 

CASINO GUICHARD PERRACHON, Public Company, 1

Esplanade de France, 42000 SAINT ETIENNE.

SIREN [French companies directory] No.: 554 501 171.

 

Representative or recipient of the correspondence:

 

Cabinet [law firm] GERMAIN & MAUREAU, 12 rue Boileau, 69006 LYON

 

FINLANDEK

 

Class No. 8: Manual tools and instruments driven manually: cutlery, forks and spoons; bladed weapons; razors. Equipment for slaughter of butchery animals; hand tools actuated manually for gardening; shears (handheld instruments);

 

Class No. 9: The following types of equipment and instruments: scientific (other than for medical use), nautical, geodesic, photographic, cinematographic, optical, for weighing, measuring, signalling, verification (inspection), for emergency (rescue) and for teaching; equipment and instruments for the conducting, distribution, transformation, accumulation, adjustment or control of electric current; equipment for recording, transmission, reproduction or processing of sound or images; media for magnetic recording, audio or video disks, floppy disks; compact disks, DVDs and other digital recording media; automatic distributors and mechanisms for prepayment devices; cash-registers, calculators, equipment for data processing and computers; extinguishers. Gaming software; software (recorded programmes); computer peripherals; electric batteries, detetctors, electric wires, electric switches; diving outfits, suits, gloves or masks; protective clothing for accidents, radiation and fire; personal anti-accident protection mechanisms; eyeglasses, eyeglasses-related items; eyeglass cases; non-medical diagnostic equipment; member cards or microprocessor cards, rescue covers;

 

Class No. 11: Equipment for lighting, heating, steam production, cooking, refrigeration, drying, ventilation, water distribution and bathroom installations. Air-conditioning equipment or installations; freezers; vehicle lighting equipment; vehicle heating or air-conditioning installations; equipment and machines for air or water purification; sterilisers;

 

Class No. 14: Jewellery, precious stones, watches and clocks, and chronometers; precious metals and their alloys. Coins: objects of art made of precious metals; jewel boxes; boxes made of precious metals; cases, bracelets,

 

Chains, springs or bezels of watches, whimsical key-chains; statues or figurines (statuettes) made of precious metals; cases or boxes for watches/clocks; medals;

 

Class No. 20: Furniture, mirrors, frames. Objects of art made of wood, wax, plaster, cork, reed, rush, wicker, horn, bone, ivory, whale, scale, amber, whale, mother-of-pearl, meerschaum, surrogates of all of these materials or made of plastic; zippers for clothes, chests of drawers; cushions; shelves; plastic packaging recipients; armchairs; seats; bedding (with the exception of bed linen); mattresses; funeral urns, dressers, basketwork. Wooden or plastic boxes;

 

Class No. 21: Non-electrical utensils and recipients for household or kitchen; combs and sponges; brushes (with the exception of brush fibres); materials for brushes; hand-activated cleaning instruments; steel-wool; raw or partially worked glass (with the exception of construction glass); porcelain, earthenware. Bottles; objects of art made of porcelain, terra cotta or glass; toiletry utensils or necessary items; trashcans; glasses (recipients); dishes, apartment aquariums;

 

Class No. 24: Fabrics, bed and table covers. Fabrics for textile use; elastic fabrics; velour; bedclothes, linen, tablecloths not made of paper, bathroom linen with the exception of clothing);

 

Class No. 26: Lace and embroidery, ribbons and laces; buttons, hooks and eyelets, pins and needles; artificial flowers, notions items (with the exception of thread); postiches beards, hair or moustaches; trimmings; wigs; attachments or closings for clothing; hair decorating items;

 

Class No. 27: Rugs, doormats, mats, linoleum and other floor coverings [with the exception of tiles and paints); wall hangings not made of textiles. Carpets; wallpaper, exercise mats; motor vehicle mats; sod;

 

Class No. 34: Tobacco, smokers’ items; matches. Cigars; cigarettes; rolling paper; pipes; lighters; cigar boxes or cases, cigarette boxes or cases, smokers’ ashtrays.

 

Classes of products or services: 8, 9, 11, 14, 20, 21, 24, 26, 27, 34

 

 

ANNEX 2

GRAPHICS STANDARDS OF THE TRADEMARK

 

-This Document is confidential- It is formally prohibited to disclose it to third parties -

Initialled [initials]

 

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1.1. Logo

 

The logo is a visual expression of Finlandek identity. It focuses on the recognition and brand impact.

 

The logo is made of two elements whose relative size and location must not be altered for any reason: the logotype (word “Finlandek”), and the symbol, which is an abstract representation of the roof of a house.

 

Keep in mind the basic rules presented in the following pages to maintain its integrity.

 

[logo] finlandekExhibit 10.27

 

Commercial Partnership Agreement

 

PURCHASE AGREEMENT

 

BETWEEN THE UNDERSIGNED

 

The company CDISCOUNT,

 

A French corporation [société anonyme] with share capital of 5,162,154.62 euros,

Having registered offices at 120-126 Quai de Bacalan, 33 000 BORDEAUX,

Registered with the BORDEAUX trade and corporate registry [registre du commerce et des sociétés] under number 424 059 822

Represented by Emmanuel GRENIER,

 

Hereinafter referred to as “CD”,

THE PARTY OF THE FIRST PART

 

AND

 

The company EMC DISTRIBUTION,

 

A French simplified stock corporation [société par actions simplifiée] with share capital of 945,000 euros,

Having registered offices at 28 rue des Vielles Vignes, ZAC Paris Est - 77183 CROISSY BEAUBOURG,

Registered with the MEAUX trade and corporate registry under number 428 269 109,

Represented by Hervé DAUDIN,

 

Hereinafter referred to as “EMC”,

THE PARTY OF THE OTHER PART

 

CD and EMC being henceforth individually designated as “the Party” and collectively as “the Parties”,

 

INTRODUCTION

 

CD and EMC are both companies under the direct or indirect control of the company Casino, Guichard-Perrachon, and are both entities of the Casino group.

 

CD is a leading player in the market for off-site sales and more precisely, e-commerce. Active and well-known largely in the non-food consumer products sector, for which it has a large buyers team that it intends to expand, CD seeks to develop in the food products sector.

 

EMC is the French buying centre of the Casino group, responsible, on behalf of certain French subsidiaries of such group, for negotiating with manufacturers the conditions for the procurement of both food and non-food products.

 

	
 
    	
CONFIDENTIAL
    	
 
    

 

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ARTICLE 1 - PURPOSE

 

This agreement defines the conditions under which EMC will provide to CD products of national brands or of major sourcing retailers.

 

ARTICLE 2 - PROCUREMENT CONDITIONS

 

CD is free to procure from EMC or not. In this regard, CD grants no guarantee of purchase volumes nor maintenance of purchase volumes to EMC during the course of this agreement.

 

CD remains free to set its commercial and rate policies in accordance with current law.

 

When acting in the capacity of direct importer and for only the products for which it is setting the terms and conditions, EMC shall be responsible for tracking the products ordered by CD and their placement on the domestic market in accordance with current regulations, noting that:

 

·                  the products or merchandise are guaranteed by the Casino group as part of its global “all import risks” insurance policy when the Incoterms applied provide for insurance to the importer;

·                  orders will be considered as firm and definitive according to criteria to be mutually agreed to;

·                  deliveries of merchandise at warehouse are billed by EMC based on a price “delivered to warehouse cleared through customs” [rendu entrepôt dédouané”], transparently incorporating all direct or indirect costs related to the import activities in question and known about from the preparation of the order.

 

ARTICLE 3 - DURATION - CANCELLATION

 

The Agreement is entered into for a period of 10 years starting 1 June 2014.

 

A minimum of 18 months before expiration of this agreement, absent a statement by one Party of its intent not to continue contractual relations after the end of this agreement, by registered letter with acknowledgement of receipt, the duration of the Agreement shall be automatically extended for successive periods of the same duration.

 

In the event of total or partial breach of its obligations by one of the Parties, the other Party may cancel the Agreement as a full matter of law, without indemnification or prior notice, after issuance of a notice to perform that has remained unaddressed for thirty days.

 

This agreement may also be cancelled as a full matter of law after issuance of a notice to perform that has remained unaddressed for thirty days in the following cases:

·                  in the case of breach of one or more of its stipulations,

·                  in the case of change of control, as defined by Article L. 233-16 of the French Commercial Code [Code de Commerce], by one of the Parties,

·                  in the case of court-ordered reorganisation or liquidation of one of the Parties, subject to the mandatory legal provisions.

 

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The non-defaulting Party also reserves the right to file legal action for all legitimate damages and interest.

 

ARTICLE 4 - BILLING AND PAYMENT

 

4.1

 

CD must pay EMC for delivered products within 20 days end of month of date of issuance of the invoice.

 

Invoices shall be settled by bank transfer by the due date.

 

ARTICLE 5 - COMPLIANCE WITH REGULATION

 

The Parties shall seek, under their sole responsibility, to comply with the laws and regulations set by the competent authorities.

 

The Parties shall comply with and, most particularly ensure compliance by their personnel with, laws and regulations, particularly in health and social matters, safety and hygiene, tracking, advertising and competition.

 

Each Party undertakes to communicate immediately, upon mere request from the other Party, any document allowing it to justify, at any time, that its activities are indeed in compliance.

 

Each Party undertakes to hold harmless and guarantee the other Party in the event that the latter is subject to legal action for breach by the former of its legal obligations.

 

ARTICLE 6 - INSURANCE

 

Each Party must underwrite, for sufficient amounts, the necessary insurance guarantees with demonstrably solvent companies to cover the liabilities they incur due to execution of this agreement, and undertakes to present the corresponding insurance affidavits prior to the signing of this instrument and/or upon any request from the other Party.

 

Insurance binders communicated in this context must include the guaranteed amounts and corresponding content.

 

Each Party is required to inform the other Party of any modification, suspension of guarantees or cancellation of agreements signed as of the notification of the insurance company and undertakes to take any measure to maintain the guarantees of the same kind for the entire duration of this agreement.

 

These insurance obligations do not under any circumstances exempt the Parties of their responsibilities as defined in this agreement; the Parties specifically remain liable for any damage that might be attributable both to them and to their service providers, for which the financial consequences are not, in whole or in part, included within the insurance coverage.

 

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ARTICLE 7 - TRANSFER OF THE AGREEMENT

 

This agreement is entered into in consideration of the Parties’ current equity holdings and specifically in view of the fact that they are both under the control of Casino, Guichard-Perrachon.

 

Consequently, no Party may assign or transfer for consideration or gratis the benefits or rights this agreement confers thereon without the other Party’s prior written consent.

 

Under all circumstances, each Party undertakes to inform the third parties concerned of the existence of this article and the restrictions deriving therefrom.

 

ARTICLE 8 - CONFIDENTIALITY

 

The Parties are prohibited from disclosing this agreement and its contents to any third parties, except to their counsel subject to professional secrecy, or to the public, national or Community authorities to which this transfer shall be necessary pursuant to a mandatory legal or regulatory provision, in order to compel the other Party to execute its commitments in the event of its refusal to do so or its breach of contract.

 

The Parties agree to the strictly confidential nature of information of any kind exchanged between them, both during the pre-contractual, contractual and post-contractual periods, and in general as part of their commercial relations.

 

Consequently, the Parties are formally prohibited from disclosing to anyone, except in the cases and conditions stipulated in the first paragraph of this article, either during the lifetime of their relations or upon their expiration for any reason whatsoever, any information concerning them, whether organizational, commercial or financial in nature, of which they might have knowledge.

 

Documents sent by one Party for purposes of executing the Agreement are and remain the exclusive property of this Party and must be returned upon cessation of the Agreement for any reason whatsoever.

 

In any event, information of which the other Party may have knowledge must be used solely for purposes of execution of this instrument.

 

Moreover, all actions and agreements to be entered into between the Parties shall be strictly confidential in nature.

 

The Parties undertake to ensure compliance with these provisions by all their employees, providers and generally any person who might participate in executing the Agreement.

 

To this end, the Parties undertake to take every precaution to prevent any risks of disclosure of such information.

 

This clause shall continue to apply for a duration of five years after cessation of the Agreement for any reason whatsoever.

 

ARTICLE 9 - PREVAILING LAW

 

The Agreement, including the Appendices, is the result of the commercial negotiations carried out freely and in good faith between the Parties. It consequently expresses the agreement of the Parties and shall prevail over any negotiations, accords, agreements or documents prior to its signing for the same purpose.

 

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No document exchanged during the negotiations can justify the Parties’ being encumbered by obligations not expressly set forth and approved in the Agreement; no obligation appearing in the agreement may be supplemented nor, a fortiori, contradicted by a document exchanged during execution of the Agreement, specifically and without being limited thereto, invoices, commercial documents, letters and emails.

 

No statement or document may create obligations not included in the Agreement, if they are not the subject of an addendum signed by the Parties, even if communicated previously or subsequently to the signing of the Agreement.

 

ARTICLE 10 - WAIVER

 

Failure to enforce a right or condition of this agreement shall not have the effect of being considered a waiver of such right or condition.

 

Such waiver shall only be in effect if expressed in writing and signed by a person duly authorized to do so.

 

ARTICLE 11 - GENERAL PROVISIONS

 

The invalidity or non-enforceability of one or more stipulations of this agreement shall not affect the validity of the other stipulations of this agreement, provided that they can continue to be executed, unless such invalidity or non-enforceability affects the very substance of this agreement.

 

In the event that one of the stipulations of this agreement is affected by invalidity, the Parties undertake to negotiate in good faith a stipulation in compliance with the legal or regulatory requirements.

 

ARTICLE 12 - NOTIFICATION

 

Any notification to be made reciprocally shall be properly and validly made by simple registered letter with acknowledgement of receipt and in case of emergency preceded by an email or fax or, specifically in the event of interruption of the postal service, by any useful means, with validity date to be the date of either delivery of such letter or its first presentation, as confirmed by the postmark, or the sending date of the notice if delivered by another means.

 

Validity dates shall be determined in accordance with the provisions of Articles 640 and thereafter of the French Civil Procedure Code [Code de Procédure Civile].

 

5

 

Any notification relating to this agreement shall be properly and validly made to the addresses below, absent any change duly communicated in advance:

 

For CD

Cdiscount

120-126 Quai de Bacalan, 33 000 BORDEAUX

Attn.: Mr.

Copy: Legal Department

 

For EMC

EMC Distribution

28 rue des Vielles Vignes, ZAC Paris Est - 77183 CROISSY BEAUBOURG,

Attn.: Mr.

Copy: Legal Department

 

ARTICLE 13 - APPLICABLE LAW - ASSIGNMENT OF COMPETENCY

 

The Parties expressly agree that their relations shall be governed by French law.

 

In the event of difficulties concerning the validity, interpretation and execution of this agreement or following its cancellation for any reason whatsoever, the Parties agree to submit all litigation not settled previously on an amicable basis, to an arbitration tribunal that shall have sole competency.

 

The sending by one Party of notification of recourse to arbitration, or the sending by the other Party of the response to the notification, shall be tantamount to commitment pursuant to this clause.

 

The tribunal shall be constituted as follows:

 

1-             The Party seeking arbitration shall send to the other Party notification by registered letter with acknowledgement of receipt noting the object in dispute and its desire to use either a single arbitrator, or three arbitrators, in which case the notifying Party shall indicate the name of the arbitrator it has chosen.

 

2-             The notified Party shall respond by registered letter with acknowledgement of receipt, either by accepting recourse to the sole arbitrator proposed by the notifying Party, or by indicating the name of that of the three arbitrators it chose.

 

3-             In the event of failure by the notified Party to respond within fifteen days after the date of presentation of the notification or failure by both Parties to agree as to the name of a single arbitrator within fifteen days of presentation of the response to the notification, or failure by the two chosen arbitrators to agree within fifteen days of their appointment, as to the name of a third arbitrator, the Party filing the action may request appointment of the single arbitrator, second arbitrator or third arbitrator, as the case may be, by order of the Presiding Magistrate of the Paris Commercial Tribunal [Tribunal de Commerce], which shall have sole competence.

 

The arbitration ruling must be drafted and signed no later than within thirty days of the appointment of the third arbitrator; failing this, the provisions of the French New Civil Procedure Code [Nouveau Code de Procédure Civile] shall apply.

 

The Arbitration Tribunal shall be seated in Paris and shall rule as a matter of law.

 

The ruling shall be subject to neither appeal nor objection.

 

6

 

Done in two copies, one for each Party, 19 May 2014

 

	
For Cdiscount
    	
 
    	
For EMC Distribution
    
	
 
    	
 
    	
 
    
	
Last name, First name:  
    Emmanuel Grenier
    	
 
    	
Last name, First name:  
    Hervé Daudin
    
	
 
    	
 
    	
 
    
	
Title:  
    Chairman / Chief Executive Officer
    	
 
    	
Title:  
    Chairman
    
	
 
    	
 
    	
 
    
	
Signature  
    	
 
    	
Signature  
    

 

7

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