Document:

OEM
Agreement

 

This
OEM Agreement (hereinafter referred to as “This Agreement”) is made and entered into by and between NGEN Technologies
USA Corp. (hereinafter referred to as “NGEN”) and Samsung Industry Co., Ltd. (hereinafter referred to as “Samsung”):

 

WITNESSETH

 

WHEREAS,
in connection with the OEM transaction of muffler (hereinafter referred to as “This Product”), “NGEN”
desires to commission “Samsung” to produce the structure of this Product and to purchase the finished Product, and
“Samsung” desires to sell the finished Product to “NGEN”.

 

Now,
THEREFORE, in consideration of the premises and covenants contained herein, the parties hereto agree as follows:

 

Article
1. Purpose

 

“NGEN”
shall commission “Samsung” to produce the structure of this Product, provide “Samsung” with equipment
needed for the production thereof, and purchase the finished Product from “Samsung” subject to terms and conditions
herein provided.

 

Article
2. Basic Principles

 

	2.1	The
    transaction shall be conducted on the basis of respect for mutual interest and the principle of good faith.
	 	 
	2.2	This
    Agreement shall take the precedence over any individual agreement or other ancillary agreement contradictory to this Agreement.
	 	 
	2.3	This
    Agreement shall be for 36 months from the effective date of this Agreement

 

Article
3. Individual Agreement

 

	3.1	This
    Agreement shall be common to all individual agreements of this Product, and an individual agreement shall consist of “NGEN’s”
    issuance of a purchase order to “Samsung” and “Samsung’s” acceptance of it; provided, however,
    that in the event of having intention to reject the purchase order, “Samsung” shall declare the intention of rejection
    within 10 days from the date of receiving the purchase order from “NGEN”. If such an intention of rejection is
    not declared within the said period, the agreement shall be deemed to be concluded.

 

    	 

    	 

    

 

Article
4. Details of Individual Agreement

 

	4.1	An
    individual agreement shall define the date of order; the name, quantity, unit price, delivery date, delivery place, and inspection
    method & time of ordered parts; and the other terms and conditions of order.
	 	 
	4.2	Notwithstanding
    the provision of 4.1, “NGEN” and “Samsung” may consult with each other about some details of the individual
    agreement and define an ancillary agreement in advance.
	 	 
	4.3	To
    initiate the terms of this OEM Agreement, Ngen Technologies shall remit advance payment of$9,000,000 USD to Samsung for equipment
    and parts as defined hereto and to the Samsung bank account identified in the annex of this Agreement. It is agreed by both
    parties that the ownership of the equipment shall be reserved by “NGEN”, and in case of “NGEN’s”
    request for its return, “Samsung” shall return it without delay.
	 	 
	4.4	List
    of equipment to be purchased by Samsung

 

	 	-	NDT/CNC/Automation
	 	 	(Model
        Name(=NDT) : LAROEN-35 )

        (Model
        Name(=CNC) : K300CNC )

	 	 	 
	 	-	Noise
    meter , Exhaust gas meter
	 	 	(Model
    Name(=Noise meter) : GDS-3502 )
	 	 	(Model
    Name(=Exhaust gas meter) : SEMTECH_LDV , SEMTECH_HDV )
	 	 	 
	 	-	Hot
        vibration Thermal Shock testing/Automation

        (Model
        Name : VC062D )

	 	 	 
	 	-	MIG(Material
        Inert Gas) Welding Machine

        (Model
        Name : RS8LAKH , BOBCAT250AC/D )

 

	4.5	The
    payment shall include parts and labour for a total of 150,000 units, paid in advance. Samsung agrees to ship finished products
    every 90 days and in accordance with the schedule outlined in this agreement.

 

Article
5. Validity of Individual Agreement

 

	5.1	Even
    in the event that this Agreement is terminated due to rescission or expiration, this Agreement shall remain effective with
    respect to an individual agreement concluded under this Agreement unless either party declares intention to the contrary.

 

Article
6. Method for Use

 

	6.1	The
    method for the use of this Product shall be the user instructions of the Product separately approved by “NGEN”.
    Provided, that in the event that law revision or other circumstances demand change in the use of this Product, “NGEN”
    and “Samsung” may consult with each other and change the method for use.
	 	 
	6.2	In
    the event that the need for change in the terms and conditions of the agreement, such as delivery price and delivery period,
    is acknowledged, “NGEN” and “Samsung” may decide thereon by mutual consultation.

 

    	 

    	 

    

 

Article
7. Trademark

 

	7.1	“Samsung”
    shall display “NGEN’s” trademark on this Product and its package. The type and method of displaying a trademark
    shall be determined by “NGEN”, and “Samsung” shall display it accordingly.
	 	 
	7.2	“Samsung”
    shall not not sell this Product bearing “NGEN’s” trademark to any third party other than “NGEN”
    nor misuse “NGEN’s” trademark for a purpose other than this Agreement.

 

Article
8 (Trademark Guarantee)

 

	8.1	“NGEN”
    shall guarantee that it will place an order for more than 800,000 Products with “Samsung” in 2018. As for the
    guaranteed quantity of Products to be ordered after 2018, it shall be determined separately by mutual consultation between
    the parties hereto.

 

Article
9. Delivery Price

 

	9.1	The
    delivery price including packaging charge and the cost of transportation to a delivery place designated by “NGEN”
    shall be determined separately by mutual consultation between “NGEN” and “Samsung”.

 

Article
10. Inspection before Delivery

 

	10.1	“Samsung”
    shall conduct the inspection of this Product before delivery according to standards for inspection determined separately between
    “NGEN” and “Samsung”.
	 	 
	10.2	“NGEN”
    shall inspect this Product at “Samsung’s” factory with “Samsung’s” cooperation, and check
    whether this Product conforms to rules or standards set by mutual consultation between “NGEN” and “Samsung”.

 

Article
11. Delivery

 

	11.1	“Samsung”
    shall deliver this Product within an appointed period of delivery to a place designated by “NGEN” according to
    the standards of an individual agreement.
	 	 
	11.2	In
    the event that this Product cannot be delivered within a period of delivery, “Samsung” shall notify “NGEN”
    thereof without delay, and follow “Ngen’s” directions.

 

Article
12. Period of Delivery

 

	12.1	The
    period of delivery means the deadline for delivering ordered products to a place designated by “NGEN”, and shall
    be set in each individual agreement by mutual consultation between the parties hereto.

 

    	 

    	 

    

 

Article
13. Delivery

 

	13.1	“Samsung”
    shall deliver a quantity of ordered products determined by “NGEN” according to a procedure specified separately
    by mutual consultation between the parties hereto.
	 	 
	13.2	In
    the event of abnormal delivery such as the precedence or delay of delivery, or excess or shortage in quantity, “Samsung”
    shall take necessary action promptly under “Ngen’s” direction.
	 	 
	13.3	In
    the event that abnormal delivery under 13.2 occurs for a reason attributable to “Samsung”, “Samsung”
    shall compensate for “Ngen’s” damage caused thereby.
	 	 
	13.4	“NGEN”
    shall not delay or refuse the receipt of delivered products when there is no reason therefor attributable to “Samsung”,
    and in the event that “Samsung” suffers damage from the unjustifiable delay in or refusal of receiving delivered
    products, “NGEN” shall indemnify “Samsung” for the damage.

 

Article
14. Receiving Inspection

 

	14.1	“NGEN”
    shall conduct receiving inspection within 7 days after the delivery of this Product, according to a separate agreement, and
    notify the results thereof to “Samsung” without delay; provided, however, that visual inspection and receiving
    inspection shall be conducted in accordance with the inspection under 8.2
	 	 
	14.2	In
    the event of failure to pass the receiving inspection, “Samsung” shall repair relevant products for free without
    delay.

 

Article
15. Transfer of Ownership

 

	15.1	The
    ownership of this Product shall be transferred to “NGEN” upon the Product’s passing the receiving inspection
    pursuant to Article 14.

 

Article
16. Burden to Bear Risk

 

	16.1	In
    the event that the whole or part of this Product is lost or broken, or deteriorated before it passes the receiving inspection
    (or payment is made) for a reason not attributable to “NGEN”, “Samsung” shall indemnify “NGEN”
    for damage caused thereby.

 

Article
17. Payment

 

	17.1	“Samsung”
    shall bill “NGEN” for this Product, which passes the receiving inspection set forth in Article 11, by the end
    of each month, and “NGEN” shall deposit the price of this Product into the account of a bank designated by “Samsung”
    by the end of the next month.

 

    	 

    	 

    

 

Article
18. Liability for Warranty against Defect

 

	18.1	In
    the event that any other defect is found within one (1) year after this Product passes the receiving inspection, “NGEN”
    shall have “Samsung” assume the liability for it, and the liability shall be accepted such as repair, exchange,
    price discount, and damages for the defect, within a reasonable period.
	 	 
	18.2	As
    for the repair or exchange of this Product under 18.1 after “NGEN” shipped it to a third party, the liability
    therefor shall be assumed by “NGEN”, and “Samsung” shall carry out part replacement or technical guidance
    in connection therewith.
	 	 
	18.3	In
    the event that “NGEN” and “Samsung” fail to agree about liability for hidden defect, they shall follow
    a procedure and a method to be validated objectively such as the decision of a reputable third party.

 

Article
19. After-sale Service

 

	19.1	After-sale
    service on this Product between “NGEN” and “Ngen’s” customer shall be carried out on “Ngen’s”
    own responsibility, with the exception of cases set forth under Article 18; provided, however, that if it is impossible for
    “NGEN” to conduct repair, “NGEN” may entrust repair to “Samsung” for consideration, and
    details thereon shall be determined by mutual consultation between “NGEN” and “Samsung”.
	 	 
	19.2	“Samsung”
    shall accede to “Ngen’s” entrustment as well as provide “NGEN” with technical data needed for
    the after-sale service under 19.1,, and conduct technical education and technical guidance in relation to the service.
	 	 
	19.3	“Samsung”
    shall retain maintenance parts of this Product for 5 years after final delivery to “NGEN”, and the parts shall
    be determined by mutual consultation between “NGEN” and “Samsung” so that the parts may be provided
    for consideration in the event of “Ngen’s” need for them for maintenance.

 

Article
20. Product Liability

 

	20.1	“Samsung”
    shall do its best lest defect occur in parts ordered by “NGEN”, and perform all obligations related to product
    liability.
	 	 
	20.2	If
    it is expected that this Product delivered to “NGEN” inflicts damage to a third party’s property or body,
    “Samsung” shall contact “NGEN” promptly, and handle and remedy it in consultation with “NGEN”.
	 	 
	20.3	In
    the event that “NGEN” confirms damage, “Samsung” shall cooperate with “A’s” handling
    and remedy under “A’s” direction. Expenses for handling and remedying damage shall be determined by mutual
    consultation between “NGEN” and “Samsung”.

 

Article
21. The Practice of and the Application for Industrial Property

 

	21.1	In
    the event of a conflict with a third party over industrial property in relation to this Product, “Samsung” shall
    be responsible for it and address it. And in the event of damage to “NGEN” caused thereby, “Samsung”
    shall indemnify “NGEN” for the damage; provided, however, that “NGEN” shall be responsible for a conflict
    over industrial property caused by user instructions or a trademark designated by “NGEN”.
	 	 
	21.2	In
    the event that while fulfilling this Agreement, “Samsung” comes up with an invention based on technical information
    about this Product provided by “NGEN”, “NGEN” and “Samsung” shall determine in mutual
    consultation whether to apply for industrial property right related to the invention, or to whom the industrial property right
    will be reserved in case of application.
	 	 
	21.3	The
    provisions of this Article shall survive the termination of this Agreement.

 

    	 

    	 

    

 

Article
22. Confidentiality

 

	22.1	“NGEN”
    and “Samsung” shall not disclose to third parties confidential information on the other party’s technology
    or business obtained during the performance of this Agreement or individual agreements without the other party’s consent
    for 5 years after the termination of this Agreement as well as during the term of this Agreement.
	 	 
	22.2	In
    the event of violating the provision of 22.1 and causing damage to the other party, either party shall indemnify the other
    party for the damage.

 

Article
23. Suspension of Production

 

	23.1	When
    “Samsung’s” commercial production of this Product is conspicuously poor or is judged to be impossible, “Samsung”
    shall notify “NGEN” of the reason therefor until 3 months before the suspension of production and consult with
    “NGEN” about the quantity of the final order and measures thereafter.

 

Article
24. Rescission for the Future

 

	24.1	In
    the event that either party has any of the following reasons, the other party can rescind the whole or part of this Agreement
    or individual agreements, and claim damages therefor.

 

	 	1.	Upon
    violating any provision of this Agreement or an individual agreement, if not remedied within a considerable period after receipt
    of written notice from the other party
	 	 	 
	 	2.	Upon
    being subjected to business suspension, business license revocation or business registration revocation from supervisory authorities
	 	 	 
	 	3.	Upon
    being put up for auction due to provisional attachment, provisional disposition, compulsory execution, security right execution,
    etc., or going into liquidation due to bankruptcy, composition, corporate reorganization, etc.
	 	 	 
	 	4.	Upon
    any reason for payment suspension, insolvency etc.

 

Article
25. Forfeiture of Benefit of Time

 

	25.1	When
    a reason falling under any provision of Article 24 occurs to either party, the relevant party shall forfeit the benefit of
    time in regard to all obligations arising from transaction.

 

Article
26. Term of Agreement

 

	26.1	The
    effective term of this Agreement shall be eighteen months from the date on which it is executed; provided, however, that this
    Agreement shall be extended one (1) year again unless either party give a notice to the contrary, and thereafter the above
    shall again apply.

 

Article
27. (Matters of Negotiation)

 

	27.1	In
    regard to any matter not set forth in this Agreement or causing disagreement on its interpretation, both parties hereto shall
    make efforts to settle it by amicable negotiation.

 

Article
28. Jurisdiction

 

	28.1	The
    court having jurisdiction over any litigation arising from this Agreement shall be a court determined by mutual agreement
    between the parties hereto. In the event that the parties hereto fail to reach the agreement, a court having jurisdiction
    over the location of “Ngen’s” office shall be the competent court.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed, signed and sealed this Agreement in duplicate, and one copy hereof shall be
retained by each party.

 

Jan
25, 2018

 

 

    	 

    	 

    

 

Appendix
I. Samsung Bank account information

 

Deposit
using Certified Bank Draft or Certified Cheque (no wire transfer via swift)

KEB
Hana Bank Canada

4960
Yonge Street, Toronto Ontario M2N 6K1

 

Further
Credit to:

Samsung
Industry Co., Ltd.

Account
Number: 161-890017-56938

 

    	 

    	 

    

 

Appendix
II. Production ScheduleThese
General Terms and Conditions apply to Office/Co-Working, Virtual Office and Membership agreements for services We supply to You.

 

	1.	General
                                         Agreement

 

		1.1.	Nature
                                         of an agreement: At all times, each Centre remains in Our possession and control. YOU
                                         ACCEPT THAT AN AGREEMENT CREATES NO TENANCY INTEREST, LEASEHOLD ESTATE OR OTHER REAL
                                         PROPERTY INTEREST IN YOUR FAVOUR WITH RESPECT TO THE ACCOMMODATION. Occupation by You
                                         is the commercial equivalent of an agreement for accommodation in a hotel. We are giving
                                         You the right to share the use of the Centre with Us and other clients.
	 	 	 
		1.2.	House
                                         Rules: The House Rules, which are incorporated into these terms and conditions, are primarily
                                         in place and enforced to ensure that all clients have a professional environment to work
                                         in.
	 	 	 
		1.3.	Availability
                                         at the start of an agreement: If for any unfortunate reason We cannot provide the services
                                         or accommodation in the Centre stated in an agreement by the start date, We will have
                                         no liability to You for any loss or damage but You may either move to one of Our other
                                         Centres (subject to availability), delay the start of the agreement or cancel it.
	 	 	 
		1.4.	AUTOMATIC
                                         RENEWAL: SO THAT WE CAN MANAGE YOUR SERVICES EFFECTIVELY AND TO ENSURE SEAMLESS CONTINUITY
                                         OF THOSE SERVICES, ALL AGREEMENTS WILL RENEW AUTOMATICALLY FOR SUCCESSIVE PERIODS EQUAL
                                         TO THE CURRENT TERM UNTIL BROUGHT TO AN END BY YOU OR US. ALL PERIODS SHALL RUN TO THE
                                         LAST DAY OF THE MONTH IN WHICH THEY WOULD OTHERWISE EXPIRE. THE FEES ON ANY RENEWAL WILL
                                         BE AT THE THEN PREVAILING MARKET RATE. IF YOU DO NOT WISH FOR AN AGREEMENT TO RENEW
                                         THEN YOU CAN CANCEL IT EASILY WITH EFFECT FROM THE END DATE STATED IN THE AGREEMENT,
                                         OR AT THE END OF ANY EXTENSION OR RENEWAL PERIOD, BY GIVING US PRIOR NOTICE. NOTICE MUST
                                         BE GIVEN THROUGH YOUR ONLINE ACCOUNT OR THROUGH THE APP. THE NOTICE PERIODS REQUIRED
                                         ARE AS FOLLOWS:

 

	Term	Notice
    Period
	 	 
	Month-to-Month	no
    less than 1 month’s notice from the 1st day of any calendar month
	 	 
	3
    months	no
    less than 2 months’ notice prior to the end of the term
	 	 
	More
    than 3 months	no
    less than 3 months’ notice prior to the end of the term

 

		1.5.	We
                                         may elect not to renew an agreement. If so, We will inform You by email, through the
                                         App or Your online account, following the same notice periods specified above.
	 	 	 
		1.6.	If
                                         the Centre is no longer available: In the event that We are permanently unable to provide
                                         the services and accommodation at the Centre stated in an agreement, We will offer You
                                         accommodation in one of Our other centres. In the unlikely event we unable to find an
                                         alternative accommodation that is acceptable to You, Your agreement will end and You
                                         will only have to pay monthly fees up to that date and for any additional services You
                                         have used.
	 	 	 
		1.7.	Ending
                                         an agreement immediately: We may put an end to an agreement immediately by giving You
                                         notice if (a)
You become insolvent or bankrupt; or (b) You breach one of your obligations which cannot be put right, or which We have given
You notice to put right and which You have failed to put right within 14 days of that notice; or (c) Your conduct, or that of
someone at the Centre with Your permission or invitation, is incompatible with ordinary office use and, (i) that conduct
continues despite You having been given notice, or (ii) that conduct is material enough (in Our reasonable opinion) to
warrant immediate termination; or (d) You are in breach of the “Compliance With Law” clause below. If We put an
end to an agreement for any of the reasons referred to in this clause it does not put an end to any of Your financial
obligations, including, without limitation, for the remainder of the period for which Your agreement would have lasted if We
had not terminated it.
	 	 	 
		1.8.	When
                                         an Office agreement ends: When an agreement ends You must vacate Your accommodation immediately,
                                         leaving it in the same state and condition as it was when You took it. Upon Your departure
                                         or if You choose to relocate to a different room within a Centre, We will charge a fixed
                                         office restoration service fee to cover normal cleaning and any costs incurred to return
                                         the accommodation to its original condition and state. This fee will differ by country
                                         and is listed in the House Rules. We reserve the right to charge additional reasonable
                                         fees for any repairs needed above and beyond normal wear and tear. If You leave any property
                                         in the Centre We may dispose of it at Your cost in any way, We choose without owing You
                                         any responsibility for it or any proceeds of sale. If You continue to use the accommodation
                                         when an agreement has ended, You are responsible for any loss, claim or liability We
                                         may incur as a result of Your failure to vacate on time.

 

    	 	 	 

    	 

    

 

	2.	Use
                                         of the Centres:

 

		2.1.	Business
                                         Operations: You may not carry on a business that competes with Our business of providing
                                         serviced offices and flexible working. You may not use Our name (or that of Our affiliates)
                                         in any way in connection with Your business. You are only permitted to use the address
                                         of a Centre as Your registered office address if it is permitted by both law and if We
                                         have given You prior written consent (given the additional administration there is an
                                         additional fee chargeable for this service). You must only use the accommodation for
                                         office business purposes. If We decide that a request for any particular service is excessive,
                                         We reserve the right to charge an additional fee. In order to ensure that the Centre
                                         provides a great working environment for all, We kindly ask you to limit any excessive
                                         visits by members of the public.
	 	 	 
		2.2.	Accommodation

 

		2.2.1.	Alterations
                                         or Damage: You are liable for any damage caused by You or those in the Centre with Your
                                         permission, whether express or implied, including but not limited to all employees, contractors
                                         and/or agents.
	 	 	 
		2.2.2.	IT
                                         Installations: We take great pride in Our IT infrastructure and its upkeep and therefore
                                         You must not install any cabling, IT or telecom connections without Our consent, which
                                         We may refuse in our absolute discretion. As a condition to Our consent, You must permit
                                         Us to oversee any installations (for example IT or electrical systems) and to verify
                                         that such installations do not interfere with the use of the accommodation by other clients
                                         or Us or any landlord of the building. Fees for installation and de-installation will
                                         be at Your cost.
	 	 	 
		2.2.3.	Use
                                         of the Accommodation: An agreement will list the accommodation We initially allocate
                                         for Your use. You will have a non-exclusive right to the rooms allocated to You. Occasionally
                                         to ensure the efficient running of the Centre, We may need to allocate different accommodation
                                         to You, but it will be of reasonably equivalent size and We will notify You with respect
                                         to such different accommodation in advance.
	 	 	 
		2.2.4.	Access
                                         to the Accommodation: In order to maintain a high level of service, We may need to enter
                                         Your accommodation and may do so at any time, including without limitation, in an emergency,
                                         for cleaning and inspection or in order to resell the space if You have given notice
                                         to terminate. We will always endeavour to respect any of Your reasonable security procedures
                                         to protect the confidentiality of Your business.

 

		2.3.	Membership:

 

		2.3.1.	If
                                         You have subscribed to a Membership Agreement You will have access to all participating
                                         centres worldwide during standard business working hours and subject to availability.
	 	 	 
		2.3.2.	Membership
                                         Usage: Usage is measured in whole days and unused days cannot be carried over to the
                                         following month. A membership is not intended to be a replacement for a full-time workspace
                                         and all workspaces must be cleared at the end of each day. You are solely responsible
                                         for Your belongings at the centre at all times. We are not responsible for any property
                                         that is left unattended. Should You use more than Your membership entitlement, We will
                                         charge You an additional usage fee. You may bring in 1 guest free of charge (subject
                                         to fair usage). Any further guests will be required to purchase a day pass.
	 	 	 
		2.3.3.	As
                                         a Member, You may not use any Centre as Your business address without an accompanying
                                         office or virtual office agreement in place. Any use of the Centre address in such a
                                         way will result in an automatic enrolment in the Virtual Office product for the same
                                         term as Your membership and You will be invoiced accordingly.

 

		2.4.	Compliance
                                         with Law: You must comply with all relevant laws and regulations in the conduct of Your
                                         business. You must not do anything that may interfere with the use of the Centre by Us
                                         or by others (including but not limited to political campaigning or immoral activity),
                                         cause any nuisance or annoyance, or cause loss or damage to Us (including damage to reputation)
                                         or to the owner of any interest in the building. If We have been advised by any government
                                         authority or other legislative body that it has reasonable suspicion that You are conducting
                                         criminal activities from the Centre, or You are or become subject to any government sanctions,
                                         then We shall be entitled to terminate any and all of Your agreements with immediate
                                         effect. You acknowledge that any breach by You of this clause shall constitute a material
                                         default, entitling Us to terminate Your agreement without further notice.
	 	 	 
		2.5.	Ethical
                                         Trading: Both We and You shall comply at all times with all relevant anti-slavery, anti-bribery
                                         and anti- corruption laws.

 

    	 	 	 

    	 

    

 

		2.6.	Data
                                         protection: You acknowledge that We may collect and process personal data from You and
                                         Your employees as strictly necessary to ensure compliance with applicable laws and regulations
                                         and to enable Us effectively to provide services to You. You acknowledge and accept that
                                         such personal data may be transferred or made accessible to other entities in our group,
                                         wherever located, for the purposes of providing the services, in each case in accordance
                                         with all applicable data protection legislation.
	 	 	 
		2.7.	Employees:
                                         We will both have invested a great deal in training Our staff, therefore, neither of
                                         us may knowingly solicit or offer employment to the other’s staff employed in the
                                         Centre (or for 3 months after they have left their employment). To recompense the other
                                         for staff training and investment costs, if either of us breaches this clause the breaching
                                         party will pay upon demand the other the equivalent of 6 months’ salary of any
                                         employee concerned.
	 	 	 
		2.8.	Confidentiality:
                                         The terms of an agreement are confidential. Neither of us may disclose them without the
                                         other’s consent unless required to do so by law or an official authority. This
                                         obligation continues for a period of 3 years after an agreement ends.
	 	 	 
		2.9.	Assignment:
                                         An agreement is personal to You and cannot be transferred to anyone else without prior
                                         consent from Us unless such transfer is required by law. However, We will not unreasonably
                                         withhold our consent to assignment to an affiliate provided that You execute our standard
                                         form of assignment. We may transfer any agreement and any and all amounts payable by
                                         You under an agreement to any other member of Our group.
	 	 	 
		2.10.	Applicable
                                         law: An agreement is interpreted and enforced in accordance with the law of the place
                                         where the Centre is located other than in a few specific jurisdictions which are detailed
                                         in the House Rules. We and You both accept the exclusive jurisdiction of the courts of
                                         that jurisdiction. If any provision of these terms and conditions is held void or unenforceable
                                         under the applicable law, the other provisions shall remain in force.

 

	3.	Our
                                         liability to You and Insurance

 

		3.1.	The
                                         extent of Our liability: To the maximum extent permitted by applicable law, We are not
                                         liable to You in respect of any loss or damage You suffer in connection with an agreement,
                                         including without limitation any loss or damage arising as a result of our failure to
                                         provide a service as a result of mechanical breakdown, strike or other event outside
                                         of Our reasonable control otherwise unless We have acted deliberately or have been negligent.
                                         In no event shall We be liable for any loss or damage until You provide written notice
                                         and give Us a reasonable time to put it right. If We are liable for failing to provide
                                         You with any service under an agreement then, subject to the exclusions and limits set
                                         out immediately below, We will pay any actual and the reasonable additional expense You
                                         have incurred in obtaining the same or similar service from elsewhere.
	 	 	 
		3.2.	Your
                                         Insurance: It is Your responsibility to arrange insurance for property which You bring
                                         in to the Centre, for any post You send or receive and for Your own liability to your
                                         employees and to third parties. We strongly recommend that You put such insurance in
                                         place.
	 	 	 
		3.3.	IT
                                         Services and Obligations: Whilst We have security internet protocols in place and strive
                                         to provide seamless internet connectivity, WE DO NOT MAKE ANY REPRESENTATION AND CANNOT
                                         GUARANTEE ANY MAINTAINED LEVEL OF CONNECTIVITY TO OUR NETWORK OR TO THE INTERNET, NOR
                                         THE LEVEL OF SECURITY OF IT INFORMATION AND DATA THAT YOU PLACE ON IT. You should
                                         adopt whatever security measures (such as encryption) You believe are appropriate to
                                         Your business. Your sole and exclusive remedy in relation to issues of reduced connectivity
                                         which are within Our reasonable control shall be for Us to rectify the issue within a
                                         reasonable time following notice from You to Us.
	 	 	 
		3.4.	EXCLUSION
                                         OF CONSEQUENTIAL LOSSES: WE WILL NOT IN ANY CIRCUMSTANCES HAVE ANY LIABILITY TO YOU
                                         FOR LOSS OF BUSINESS, LOSS OF PROFITS, LOSS OF ANTICIPATED SAVINGS, LOSS OF OR DAMAGE
                                         TO DATA, THIRD PARTY CLAIMS OR ANY CONSEQUENTIAL LOSS. WE STRONGLY RECOMMEND THAT YOU
                                         INSURE AGAINST ALL SUCH POTENTIAL LOSS, DAMAGE, EXPENSE OR LIABILITY.
	 	 	 
		3.5.	Financial
                                         limits to our liability: In all cases, our liability to You is subject to the following
                                         limits:

 

		3.5.1.	without
                                         limit for personal injury or death;
	 	 	 
		3.5.2.	up
                                         to a maximum of GBP 1 million (or USD 1.5 million or EUR 1 million or other local equivalent)
                                         for any one event or series of connected events for damage to Your personal property;
                                         and
	 	 	 
		3.5.3.	in
                                         respect of any other loss or damage, up to a maximum equal to 125% of the total fees
                                         paid between the date services under an agreement commenced and the date on which the
                                         claim in question arises; or if higher, for office agreements only, GBP 50,000 / USD
                                         100,000 / EUR 66,000 (or local equivalent).

 

    	 	 	 

    	 

    

 

	4.	Fees

 

		4.1.	Service
                                         Retainer/Deposit: Your service retainer / deposit will be held by Us without generating
                                         interest as security for performance of all Your obligations under an agreement. All
                                         requests for the return must be made through Your online account or App after which the
                                         service retainer/deposit or any balance will be returned within 30 days to You once your
                                         agreement has ended and when You have settled Your account. We will deduct any outstanding
                                         fees and other costs due to Us before returning the balance to You. We may require You
                                         to pay an increased retainer if the monthly office or virtual office fee increases upon
                                         renewal, outstanding fees exceed the service retainer/deposit held and/or You frequently
                                         fail to pay invoices when due.
	 	 	 
		4.2.	Taxes
                                         and duty charges: You agree to pay promptly (i) all sales, use, excise, consumption and
                                         any other taxes and license fees which You are required to pay to any governmental authority
                                         (and, at Our request, You will provide to Us evidence of such payment) and (ii) any taxes
                                         paid by Us to any governmental authority that are attributable to Your accommodation,
                                         where applicable, including, without limitation, any gross receipts, rent and occupancy
                                         taxes, tangible personal property taxes, stamp tax/duty or other documentary taxes and
                                         fees.
	 	 	 
		4.3.	Payment:
                                         We are continually striving to reduce our environmental impact and support You in doing
                                         the same. Therefore, We will send all invoices electronically and You will make payments
                                         via an automated method such as Direct Debit or Credit Card, wherever local banking systems
                                         permit.
	 	 	 
		4.4.	Late
                                         payment: If You do not pay fees when due, a fee will be charged on all overdue balances.
                                         This fee will differ by country and is listed in the House Rules. If You dispute any
                                         part of an invoice You must pay the amount not in dispute by the due date or be subject
                                         to late fees. We also reserve the right to withhold services (including for the avoidance
                                         of doubt, denying You access to the Centre where applicable) while there are any outstanding
                                         fees and/or interest, or You are in breach of an agreement.
	 	 	 
		4.5.	Insufficient
                                         Funds: Due to the additional administration We incur You will pay a fee for any returned
                                         or declined payments due to insufficient funds. This fee will differ by country and is
                                         listed in the House Rules.
	 	 	 
		4.6.	Indexation:
                                         If an agreement is for a term of more than 12 months, We will increase the monthly fee
                                         on each anniversary of the start date in line with the relevant inflation index detailed
                                         in the House Rules.
	 	 	 
		4.7.	Standard
                                         services: Monthly fees, plus applicable taxes, and any recurring services requested by
                                         You are payable monthly in advance. Where a daily rate applies, the charge for any such
                                         month will be 30 times the daily fee. For a period of less than a month the fee will
                                         be applied on a daily basis.
	 	 	 
		4.8.	Pay-as-you-use
                                         and Additional Variable Services: Fees for pay-as-you-use services, plus applicable taxes,
                                         are payable monthly in arears at our standard rates which may change from time to time
                                         and are available on request.
	 	 	 
		4.9.	Discounts,
                                         Promotions and Offers: If You benefited from a special discount, promotion or offer,
                                         We will discontinue that discount, promotion or offer without notice if You materially
                                         breach Your agreement.

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