Document:

EX-10.1:

 

Exhibit 10.1

ROYAL DUTCH SHELL PLC

LETTER OF APPOINTMENT FOR A NON-EXECUTIVE DIRECTOR

Drs. M.A. van den Bergh

Eastwood

7 Albury Road

Burwood Park

Walton on Thames

Surrey KT12 5DY

UK

13 May 2005

Dear Mr. van den Bergh,

Role as Non-executive Director

I write to confirm the terms of your appointment as a Non-executive Director of the Company:-

	1.	 	Term of Appointment

	 	(A)	 	Your initial term as a Non-executive Director will be until the close of
business at the Annual General Meeting in 2007.
	 
	 	(B)	 	Your appointment is subject to:

	 	(i)	 	The requirements of the Combined Code in respect of performance
evaluation;
	 
	 	(ii)	 	Your election or re-election at any subsequent Annual General
Meeting at which, pursuant to the Articles, you are required to retire;
	 
	 	(iii)	 	The provisions of the Articles; and
	 
	 	(iv)	 	Not less than three months’ notice of termination in writing.

	2.	 	Powers and Duties

	 	(A)	 	You will exercise such powers and perform such duties as are appropriate to your
role as a non-executive director of the Company. You may expect to be appointed as a
member of at least one of the Committees established by the Board. The Company
Secretary will provide you with full details of the Company’s Corporate Governance
arrangements, which include details of the procedures if you should think it necessary
to take independent professional advice at the Company’s expense.

 

 

	 	(B)	 	You will comply with the Shell General Business Principles and all other
reasonable directions from, and all regulations of, the Company including, without
limitation, regulations with respect to confidentiality, dealings in shares and
notifications required to be made by a director to the Company or any regulatory body
under the Companies Acts, the Articles or any other regulations of the Company. You
will also observe the terms and conditions of The City Code on Take-Overs and Mergers
and Financial Service Authority and Stock Exchange regulations.
	 
	 	(C)	 	You will advise the Chairman immediately if you become aware of any conflict
between your own interests and those of the Company.
	 
	 	(D)	 	It is expected that the time commitment necessary to fulfil your duties as a
Non-executive Director is on average 30 days a year. This includes attendance at the
Annual General Meeting, approximately eight meetings of the Board per year (including
the annual off site Board meeting and travel to that off site Board meeting), meetings
of any Committees of the Board on which you may be invited to serve as a member and
appropriate preparation time ahead of all meetings. Further time commitment may be
required if you are invited to serve as chairman to a Committee of the Board. These
meetings may be held in The Hague or elsewhere. Additional site visits, educational
briefings and contact with executive directors and staff may involve further time
commitment of up to 5 days per year. Travelling time (except for the annual off site
Board meeting) is not included. On occasion, more time may be needed to deal with
particular issues. By accepting this appointment, you have confirmed that you are able
to allocate sufficient time to meet the expectations of your role.

	3.	 	Remuneration
	 
	 	 	From the date of completion of the Transaction (expected to be in July 2005) to the
termination of your appointment you will be paid director’s fees quarterly in arrear at the
rate of £70,000 per annum or such higher amount as the Company may from time to time
determine and notify to you in writing. In addition you will be entitled to an additional fee
of £3,000 per meeting if you undertake intercontinental travel to attend that meeting. This
additional fee is not payable for the annual off site Board meeting.
	 
	 	 	The following additional fee(s) are payable per annum to any director who is appointed as:

	 	 	 	 	 
	Senior Independent Director/deputy chairman:
	 	£	30,000	 
	Audit Committee chairman:
	 	£	25,000	 
	Remuneration Committee chairman:
	 	£	20,000	 
	Other Committee chairmanship
	 	£	15,000	 
	Audit Committee membership
	 	£	15,000	 
	Remuneration Committee membership
	 	£	11,500	 
	Other committee membership
	 	£	8,000	 

 

 

	4.	 	Expenses
	 
	 	 	Subject to the Articles, the Company will reimburse you for all reasonable travelling, hotel
and incidental expenses which you may incur in performing your duties.
	 
	5.	 	Confidential Information

	 	(A)	 	You will not, either during the term of your appointment as a director or
thereafter:

	 	(i)	 	use to the detriment or prejudice of the Group or divulge or
communicate to any person any trade secret or any other confidential information
concerning the business or affairs of the Group (except to employees or directors
of the Group whose province it is to know the same) which may have come to your
knowledge during the term of your appointment; or
	 
	 	(ii)	 	use for your own purpose or for any purposes other than those of
the Group any information or knowledge of a confidential nature which you may
from time to time acquire in relation to any member of the Group. This
restriction shall cease to apply to any information or knowledge which may come
into the public domain (except through your default).

	 	(B)	 	During the term of your appointment as a director, you will not be or become a
director or employee or agent of any enterprise, or have or acquire any material
financial interest in any enterprise, which competes or is likely to compete or has a
significant business relationship with any member of the Group without the prior consent
of the Chairman in writing (such consent not to be unreasonably withheld or delayed).

	6.	 	Return of Papers
	 
	 	 	You will promptly whenever requested by the Company and in any event upon your ceasing to be
a director of the Company either (i) deliver up to the Company all correspondence and all
other documents, papers and records which may have been prepared by you or have come into
your possession as a director of the Company or (ii) certify to the Company in writing that
such correspondence, documents, papers and records have been destroyed. You will not retain
copies in paper or electronic form. Title and copyright therein shall vest in the Company.
	 
	7.	 	Termination of Appointment
	 
	 	 	Your appointment will terminate on the earliest of:-

	 	(i)	 	the date of expiry of the period specified in clause 1(A);
	 
	 	(ii)	 	the date of expiry of the period specified in Clause 1(B);

 

 

	 	(iii)	 	your ceasing to be a director for any reason pursuant to the Articles or any
applicable law.

	 	 	Your signature on the duplicate copy of this letter constitutes your irrevocable resignation
as a director of the Company with effect from either:-

	 	(a)	 	the date of expiry of the period specified in clause 1(A); or
	 
	 	(b)	 	the date of the expiry of the period specified in clause 1(B).

	 	 	If the Company agrees with you in writing that you will serve as a director until a later
date than the date referred to in (a), your resignation will be effective from that later
date or any extension to it agreed in writing.
	 
	8.	 	Directors’ and Officers’ Insurance
	 
	 	 	The Company has taken out insurance cover for directors’ and officers’ liabilities. Full
details of such cover can be obtained from the Company Secretary.
	 
	9.	 	Condition precedent
	 
	 	 	Completion of the Transaction (expected to be in July 2005) shall be a condition precedent to
the operation of this letter of appointment.
	 
	10.	 	Arbitration
	 
	10.1	 	All disputes between the Company and you shall be resolved exclusively according to the
arbitration and exclusive jurisdiction provisions set out in articles 152, 153 and 154 of the
Articles and articles 152, 153 and 154 shall accordingly be incorporated, mutatis mutandis,
into the terms of this letter of appointment.
	 
	10.2	 	In respect of any disputes between a shareholder and you (whether in your capacity as
director of the Company or a subsidiary undertaking of the Company), the Company shall, upon
your request, take all reasonable steps to enforce the shareholder’s submission to arbitration
or to the exclusive jurisdiction of the courts of England and Wales as provided in article 154
(C).
	 
	10.3	 	A copy of articles 152, 153 and 154 of the Articles in the form in which they exist as at the
date of this letter of appointment is attached as Annex 1.
	 
	10.4	 	References to “dispute” in this clause shall have the same meaning as set out in article 154
of the Articles.
	 
	10.5	 	All cross-references to the Articles in this clause will be updated and amended without
further action of either party in the event the Articles themselves are renumbered.

 

 

	11.	 	Definitions
	 
	 	 	Any reference in this letter to:-
	 
	 	 	the “Articles”

	 	means the Articles of Association
from time to time of the Company;
	 	 	the “Board”

	 	means the board of Directors from
time to time of the Company;
	 	 	the “Companies Acts”

	 	means every statute from time to
time in force concerning companies
insofar as it applies to the
Company; and
	 	 	the “Group”

	 	means the Company and any other
company directly or indirectly
controlled by the Company.
	 	 	the “Transaction”

	 	means the unification of N.V.
Koninklijke Nederlandsche Petroleum
Maatschappij (Royal Dutch Petroleum
Company) and the “Shell” Transport
and Trading Company, p.l.c..

Please sign and return the duplicate copy of this letter by way of acceptance of its terms.

Yours sincerely,

/s/ Aad Jacobs

Aad Jacobs

Chairman

I accept the terms of appointment as set out above.

/s/ Mr. van den Bergh

(Signature)

13 May, 2005

(Date)

 

 

ANNEX 1

The following is an extract from the Articles, as at the date of this letter of appointment:

	“152.	 	Arbitration
	 
	 	 	Unless article 153 applies:

	 	(A)	 	All disputes:

	 	(i)	 	between a shareholder in that shareholder’s capacity as
such and the company and/or its directors arising out of or in connection
with these articles or otherwise; and/or
	 
	 	(ii)	 	to the fullest extent permitted by law, between the company
and any of its directors in their capacities as such or as employees of the
company, including all claims made by or on behalf of the company against its
directors; and/or
	 
	 	(iii)	 	between a shareholder in that shareholder’s capacity as
such and the company’s professional service providers; and/or
	 
	 	(iv)	 	between the company and the company’s professional service
providers arising in connection with any claim within the scope of article
152(A)(iii),

	 	 	 	shall be exclusively and finally resolved under the Rules of Arbitration of the
International Chamber of Commerce (“ICC”) (the “ICC Rules”), as amended from time
to time.
	 
	 	(B)	 	The tribunal shall consist of three arbitrators to be appointed in accordance
with the ICC Rules.
	 
	 	(C)	 	The chairman of the tribunal must have at least 20 years experience as a
solicitor or barrister qualified to practise in England and Wales and each other
arbitrator must have at least 20 years experience as a qualified lawyer.
	 
	 	(D)	 	The seat and also the geographical location of the arbitration shall be The
Hague, The Netherlands.
	 
	 	(E)	 	The language of the arbitration shall be English.
	 
	 	(F)	 	These articles constitute a contract between the company and its shareholders
and between the company’s shareholders inter se. This article 152 (as supplemented
from time to time by any agreement to a similar effect between the company and its
directors or professional service providers) also contains or evidences an express
submission to arbitration by each shareholder, the company, its directors and
professional service providers and such submissions shall be treated as a written
arbitration agreement under the Netherlands Arbitration Act, the Arbitration Act 1996
of England and Wales and Article II of the United Nations

 

 

	 	 	 	Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958).
	 
	 	(G)	 	Each person to whom this article 152 applies hereby waives, to the fullest
extent permitted by law: (i) any right under the laws of any jurisdiction to apply to
any court of law or other judicial authority to determine any preliminary point of
law, and/or (ii) any right it may otherwise have under the laws of any jurisdiction to
appeal or otherwise challenge the award, ruling or decision of the tribunal.

	153.	 	Exclusive Jurisdiction

	 	(A)	 	This article 153 shall apply to a dispute (which would otherwise be subject
to article 152) in any jurisdiction if a court in that jurisdiction determines that
article 152 is invalid or unenforceable in relation to that dispute in that
jurisdiction.
	 
	 	(B)	 	For the purposes of article 153(A), court shall mean any court of competent
jurisdiction or other competent authority including for the avoidance of doubt, a
court or authority in any jurisdiction which is not a signatory to the New York
Convention.
	 
	 	(C)	 	Any proceeding, suit or action:

	 	(i)	 	between a shareholder in that shareholder’s capacity as
such and the company and/or its directors arising out of or in connection
with these articles or otherwise; and/or
	 
	 	(ii)	 	to the fullest extent permitted by law, between the company
and any of its directors in their capacities as such or as employees of the
company, including all claims made by or on behalf of the company against its
directors; and/or
	 
	 	(iii)	 	between a shareholder in that shareholder’s capacity as
such and the company’s professional service providers; and/or
	 
	 	(iv)	 	between the company and the company’s professional service
providers arising in connection with any claim within the scope of article
153(C)(iii),

	 	 	 	may only be brought in the courts of England and Wales.
	 
	 	(D)	 	Damages alone may not be an adequate remedy for any breach of this article
153, so that in the event of a breach or anticipated breach, the remedies of
injunction and/or an order for specific performance would in appropriate circumstances
be available.

	154.	 	General Dispute Resolution Provisions

	 	(A)	 	For the purposes of articles 152 and 153, a “dispute” shall mean any dispute,
controversy or claim, other than any dispute, controversy or claim relating to any
failure or alleged failure by the company to pay all or part

 

 

	 	 	 	of a dividend which has been declared and which has fallen due for payment.
	 
	 	(B)	 	The governing law of these articles, including the submissions to arbitration
and written arbitration agreement contained in or evidenced by article 152, shall be
the substantive law of England.
	 
	 	(C)	 	The company shall be entitled to enforce articles 152 and 153 for its own
benefit, and that of its directors, subsidiary undertakings and professional service
providers.
	 
	 	(D)	 	References in articles 152 and 153 to:

	 	(i)	 	“company” shall be read so as to include each and any of
the company’s subsidiary undertakings from time to time; and
	 
	 	(ii)	 	“director” shall be read so as to include each and any
director of the company from time to time in its capacity as such or as
employee of the company and shall include any former director of the company;
and
	 
	 	(iii)	 	“professional service providers” shall be read so as to
include the company’s auditors, legal counsel, bankers, ADR
depositaries and any other similar professional service
providers in their capacity as such from time to time but only if and to the
extent such person has agreed with the company in writing to be bound by
article 152 and/or 153 (or has otherwise agreed to submit disputes to
arbitration and/or exclusive jurisdiction in a materially similar way).”EX-10.2:

 

Exhibit 10.2

ROYAL DUTCH SHELL PLC
 

LETTER
OF APPOINTMENT FOR A NON-EXECUTIVE DIRECTOR

Sir Peter Burt

Auldhame House

North Berwick

East Lothian

EH39 5PW

UK

13 May 2005

Dear Sir Peter,

Role as Non-executive Director

I write to confirm the terms of your appointment as a Non-executive Director of the Company:-

	1.	 	Term of Appointment

	 	(A)	 	Your initial term as a Non-executive Director will be until the close of
business at the Annual General Meeting in 2007.
	 
	 	(B)	 	Your appointment is subject to:

	 	(i)	 	The requirements of the Combined Code in respect of performance
evaluation;
	 
	 	(ii)	 	Your election or re-election at any subsequent Annual General
Meeting at which, pursuant to the Articles, you are required to retire;
	 
	 	(iii)	 	The provisions of the Articles; and
	 
	 	(iv)	 	Not less than three months’ notice of termination in writing.

	2.	 	Powers and Duties

	 	(A)	 	You will exercise such powers and perform such duties as are appropriate to your
role as a non-executive director of the Company. You may expect to be appointed as a
member of at least one of the Committees established by the Board. The Company
Secretary will provide you with full details of the Company’s Corporate Governance
arrangements, which include details of the procedures if you should think it necessary
to take independent professional advice at the Company’s expense.

 

 

	 	(B)	 	You will comply with the Shell General Business Principles and all other
reasonable directions from, and all regulations of, the Company including, without
limitation, regulations with respect to confidentiality, dealings in shares and
notifications required to be made by a director to the Company or any regulatory body
under the Companies Acts, the Articles or any other regulations of the Company. You
will also observe the terms and conditions of The City Code on Take-Overs and Mergers
and Financial Service Authority and Stock Exchange regulations.
	 
	 	(C)	 	You will advise the Chairman immediately if you become aware of any conflict
between your own interests and those of the Company.
	 
	 	(D)	 	It is expected that the time commitment necessary to fulfil your duties as a
Non-executive Director will be approximately 30 days a year on average. This includes
attendance at the Annual General Meeting, approximately eight meetings of the Board per
year (including the annual off site Board meeting and travel to that off site Board
meeting), meetings of any Committees of the Board on which you may be invited to serve
as a member and appropriate preparation time ahead of all meetings. Further time
commitment may be required if you are invited to serve as chairman to a Committee of the
Board. These meetings may be held in The Hague or elsewhere. Additional site visits,
educational briefings and contact with executive directors and staff may involve further
time commitment of up to 5 days per year. Travelling time (except for the annual off
site Board meeting) is not included. On occasion, more time may be needed to deal with
particular issues. I undertake that I will have sufficient time to
meet what is expected of me.

	3.	 	Remuneration
	 
	 	 	From the date of completion of the Transaction (expected to be in July 2005) to the
termination of your appointment you will be paid director’s fees quarterly in arrear at the
rate of £70,000 per annum or such higher amount as the Company may from time to time
determine and notify to you in writing. In addition you will be entitled to an additional fee
of £3,000 per meeting if you undertake intercontinental travel to attend that meeting. This
additional fee is not payable for the annual off site Board meeting.
	 
	 	 	The following additional fee(s) are payable per annum to any director who is appointed as:

	 	 	 	 	 
	Senior Independent Director/deputy chairman:
	 	£	30,000	 
	Audit Committee chairman:
	 	£	25,000	 
	Remuneration Committee chairman:
	 	£	20,000	 
	Other Committee chairmanship
	 	£	15,000	 
	Audit Committee membership
	 	£	15,000	 
	Remuneration Committee membership
	 	£	11,500	 
	Other committee membership
	 	£	8,000	 

 

 

	4.	 	Expenses
	 
	 	 	Subject to the Articles, the Company will reimburse you for all reasonable travelling, hotel
and incidental expenses which you may incur in performing your duties.
	 
	5.	 	Confidential Information

	 	(A)	 	You will not, either during the term of your appointment as a director or
thereafter:

	 	(i)	 	use to the detriment or prejudice of the Group or divulge or
communicate to any person any trade secret or any other confidential information
concerning the business or affairs of the Group (except to employees or directors
of the Group whose province it is to know the same) which may have come to your
knowledge during the term of your appointment; or
	 
	 	(ii)	 	use for your own purpose or for any purposes other than those of
the Group any information or knowledge of a confidential nature which you may
from time to time acquire in relation to any member of the Group. This
restriction shall cease to apply to any information or knowledge which may come
into the public domain (except through your default).

	 	(B)	 	During the term of your appointment as a director, you will not be or become a
director or employee or agent of any enterprise, or have or acquire any material
financial interest in any enterprise, which competes or is likely to compete or has a
significant business relationship with any member of the Group without the prior consent
of the Chairman in writing (such consent not to be unreasonably withheld or delayed).

	6.	 	Return of Papers
	 
	 	 	You will promptly whenever requested by the Company and in any event upon your ceasing to be
a director of the Company either (i) deliver up to the Company all correspondence and all
other documents, papers and records which may have been prepared by you or have come into
your possession as a director of the Company or (ii) certify to the Company in writing that
such correspondence, documents, papers and records have been destroyed. You will not retain
copies in paper or electronic form. Title and copyright therein shall vest in the Company.
	 
	7.	 	Termination of Appointment
	 
	 	 	Your appointment will terminate on the earliest of:-

	 	(i)	 	the date of expiry of the period specified in clause 1(A);
	 
	 	(ii)	 	the date of expiry of the period specified in Clause 1(B);

 

 

	 	(iii)	 	your ceasing to be a director for any reason pursuant to the Articles or any
applicable law.

	 	 	Your signature on the duplicate copy of this letter constitutes your irrevocable resignation
as a director of the Company with effect from either:-

	 	(a)	 	the date of expiry of the period specified in clause 1(A); or
	 
	 	(b)	 	the date of the expiry of the period specified in clause 1(B).

	 	 	If the Company agrees with you in writing that you will serve as a director until a later
date than the date referred to in (a), your resignation will be effective from that later
date or any extension to it agreed in writing.
	 
	8.	 	Directors’ and Officers’ Insurance
	 
	 	 	The Company has taken out insurance cover for directors’ and officers’ liabilities. Full
details of such cover can be obtained from the Company Secretary.
	 
	9.	 	Condition precedent
	 
	 	 	Completion of the Transaction (expected to be in July 2005) shall be a condition precedent to
the operation of this letter of appointment.
	 
	10.	 	Arbitration
	 
	10.1	 	All disputes between the Company and you shall be resolved exclusively according to the
arbitration and exclusive jurisdiction provisions set out in articles 152, 153 and 154 of the
Articles and articles 152, 153 and 154 shall accordingly be incorporated, mutatis mutandis,
into the terms of this letter of appointment.
	 
	10.2	 	In respect of any disputes between a shareholder and you (whether in your capacity as
director of the Company or a subsidiary undertaking of the Company), the Company shall, upon
your request, take all reasonable steps to enforce the shareholder’s submission to arbitration
or to the exclusive jurisdiction of the courts of England and Wales as provided in article 154
(C).
	 
	10.3	 	A copy of articles 152, 153 and 154 of the Articles in the form in which they exist as at the
date of this letter of appointment is attached as Annex 1.
	 
	10.4	 	References to “dispute” in this clause shall have the same meaning as set out in article 154
of the Articles.
	 
	10.5	 	All cross-references to the Articles in this clause will be updated and amended without
further action of either party in the event the Articles themselves are renumbered.

 

 

	11.	 	Definitions
	 
	 	 	Any reference in this letter to:-

	 	 	 
	the “Articles”

	 	means the Articles of Association
from time to time of the Company;
	the “Board”

	 	means the board of Directors from
time to time of the Company;
	the “Companies Acts”

	 	means every statute from time to
time in force concerning companies
insofar as it applies to the
Company; and
	the “Group”

	 	means the Company and any other
company directly or indirectly
controlled by the Company.
	the “Transaction”

	 	means the unification of N.V.
Koninklijke Nederlandsche Petroleum
Maatschappij (Royal Dutch Petroleum
Company) and the “Shell” Transport
and Trading Company, p.l.c..

Please sign and return the duplicate copy of this letter by way of acceptance of its terms.

Yours sincerely,

	 	 	 
	 
	/s/ Aad Jacobs
	 	 	 
	Aad Jacobs
Chairman	 	 

I accept the terms of appointment as set out above.

	 	 	 
	 
	/s/ Sir Peter Burt
	(Signature)	 	 
	 
	 
	13 May, 2005 
	(Date)	 	 

 

 

ANNEX 1

The following is an extract from the Articles, as at the date of this letter of appointment:

	“152.	 	Arbitration
	 
	 	 	Unless article 153 applies:

	 	(A)	 	All disputes:

	 	(i)	 	between a shareholder in that shareholder’s capacity as
such and the company and/or its directors arising out of or in connection
with these articles or otherwise; and/or
	 
	 	(ii)	 	to the fullest extent permitted by law, between the company
and any of its directors in their capacities as such or as employees of the
company, including all claims made by or on behalf of the company against its
directors; and/or
	 
	 	(iii)	 	between a shareholder in that shareholder’s capacity as
such and the company’s professional service providers; and/or
	 
	 	(iv)	 	between the company and the company’s professional service
providers arising in connection with any claim within the scope of article
152(A)(iii),

	 	 	 	shall be exclusively and finally resolved under the Rules of Arbitration of the
International Chamber of Commerce (“ICC”) (the “ICC Rules”), as amended from time
to time.
	 
	 	(B)	 	The tribunal shall consist of three arbitrators to be appointed in accordance
with the ICC Rules.
	 
	 	(C)	 	The chairman of the tribunal must have at least 20 years experience as a
solicitor or barrister qualified to practise in England and Wales and each other
arbitrator must have at least 20 years experience as a qualified lawyer.
	 
	 	(D)	 	The seat and also the geographical location of the arbitration shall be The
Hague, The Netherlands.
	 
	 	(E)	 	The language of the arbitration shall be English.
	 
	 	(F)	 	These articles constitute a contract between the company and its shareholders
and between the company’s shareholders inter se. This article 152 (as supplemented
from time to time by any agreement to a similar effect between the company and its
directors or professional service providers) also contains or evidences an express
submission to arbitration by each shareholder, the company, its directors and
professional service providers and such submissions shall be treated as a written
arbitration agreement under the Netherlands Arbitration Act, the Arbitration Act 1996
of England and Wales and Article II of the United Nations

 

 

	 	 	 	Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958).
	 
	 	(G)	 	Each person to whom this article 152 applies hereby waives, to the fullest
extent permitted by law: (i) any right under the laws of any jurisdiction to apply to
any court of law or other judicial authority to determine any preliminary point of
law, and/or (ii) any right it may otherwise have under the laws of any jurisdiction to
appeal or otherwise challenge the award, ruling or decision of the tribunal.

	153.	 	Exclusive Jurisdiction

	 	(A)	 	This article 153 shall apply to a dispute (which would otherwise be subject
to article 152) in any jurisdiction if a court in that jurisdiction determines that
article 152 is invalid or unenforceable in relation to that dispute in that
jurisdiction.
	 
	 	(B)	 	For the purposes of article 153(A), court shall mean any court of competent
jurisdiction or other competent authority including for the avoidance of doubt, a
court or authority in any jurisdiction which is not a signatory to the New York
Convention.
	 
	 	(C)	 	Any proceeding, suit or action:

	 	(i)	 	between a shareholder in that shareholder’s capacity as
such and the company and/or its directors arising out of or in connection
with these articles or otherwise; and/or
	 
	 	(ii)	 	to the fullest extent permitted by law, between the company
and any of its directors in their capacities as such or as employees of the
company, including all claims made by or on behalf of the company against its
directors; and/or
	 
	 	(iii)	 	between a shareholder in that shareholder’s capacity as
such and the company’s professional service providers; and/or
	 
	 	(iv)	 	between the company and the company’s professional service
providers arising in connection with any claim within the scope of article
153(C)(iii),

	 	 	 	may only be brought in the courts of England and Wales.
	 
	 	(D)	 	Damages alone may not be an adequate remedy for any breach of this article
153, so that in the event of a breach or anticipated breach, the remedies of
injunction and/or an order for specific performance would in appropriate circumstances
be available.

	154.	 	General Dispute Resolution Provisions

	 	(A)	 	For the purposes of articles 152 and 153, a “dispute” shall mean any dispute,
controversy or claim, other than any dispute, controversy or claim relating to any
failure or alleged failure by the company to pay all or part

 

 

	 	 	 	of a dividend which has been declared and which has fallen due for payment.
	 
	 	(B)	 	The governing law of these articles, including the submissions to arbitration
and written arbitration agreement contained in or evidenced by article 152, shall be
the substantive law of England.
	 
	 	(C)	 	The company shall be entitled to enforce articles 152 and 153 for its own
benefit, and that of its directors, subsidiary undertakings and professional service
providers.
	 
	 	(D)	 	References in articles 152 and 153 to:

	 	(i)	 	“company” shall be read so as to include each and any of
the company’s subsidiary undertakings from time to time; and
	 
	 	(ii)	 	“director” shall be read so as to include each and any
director of the company from time to time in its capacity as such or as
employee of the company and shall include any former director of the company;
and
	 
	 	(iii)	 	“professional service providers” shall be read so as to
include the company’s auditors, legal counsel, bankers, ADR
depositaries and any other similar professional service
providers in their capacity as such from time to time but only if and to the
extent such person has agreed with the company in writing to be bound by
article 152 and/or 153 (or has otherwise agreed to submit disputes to
arbitration and/or exclusive jurisdiction in a materially similar way).”

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