Document:

Exhibit 4.5

 

DESCRIPTION
OF REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

Natural
Order Acquisition Corp. has three classes of securities registered under Section 12 of the Securities Exchange Act of 1934 (the “Exchange
Act”): (1) our units; (2) our shares of common stock; and (3) our redeemable warrants.

 

The
following description of our units, common stock, and redeemable warrants is a summary and does not purport to be complete. It is subject
to and qualified in its entirety by reference to our amended and restated certificate of incorporation and bylaws, which are incorporated
by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4.5 is a part. We encourage you to read our amended
and restated certificate of incorporation, bylaws and the applicable provisions of the General Corporation Law of Delaware (“DGCL”)
and the common law of Delaware.

 

References
to “we,” “us” or the “company” refer to Natural Order Acquisition Corp. References to our “management”
or our “management team” refer to our officers and directors, and references to the “sponsor” refer to Natural
Order Sponsor LLC, a Delaware limited liability company. References to our “public shares” are to our shares of common
stock sold as part of the units in our initial public offering (whether they were purchased in the initial public offering or thereafter
in the open market), and references to our “public shareholders” are to holders of our public shares.

 

Terms
not otherwise defined herein shall have the meaning assigned to them in the Annual Report on Form 10-K (the “Annual Report”)
of which this Exhibit 4.5 is a part.

 

General

 

Pursuant
to our amended and restated certificate of incorporation, our authorized capital stock consists of 100,000,000 shares of common stock,
par value $0.0001, and 1,000,000 shares of preferred stock, par value $0.0001. As of the date of the Annual Report, 28,750,000 shares
of common stock are issued and outstanding, and no preferred shares are issued or outstanding.

 

Units

 

Each
unit consists of one share of common stock and one warrant. Each warrant entitles the holder thereof to purchase one-half share of common
stock at a price of $11.50 per whole share, subject to adjustment as described herein. Each warrant becomes exercisable upon the consummation
of an initial business combination, and expires five years after the completion of an initial business combination, or earlier upon redemption.

 

Common
Stock

 

Our
holders of record of our common stock are entitled to one vote for each share held on all matters to be voted on by stockholders. In
connection with any vote held to approve our initial business combination, our insiders, officers and directors, have agreed to vote
their respective shares of common stock owned by them, including any shares acquired in the open market, in favor of the proposed business
combination.

 

We
will consummate our initial business combination only if public stockholders do not exercise conversion rights in an amount that would
cause our net tangible assets to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in
favor of the business combination.

 

Pursuant
to our amended and restated certificate of incorporation, if we do not consummate our initial business combination within 24 months from
the closing of our initial public offering, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as
reasonably possible but not more than ten business days thereafter, redeem 100% of the outstanding public shares, which redemption will
completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidation distributions,
if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
our remaining stockholders and our board of directors, dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations
under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our insiders have agreed to waive
their rights to share in any distribution with respect to their insider shares.

 

     

    

    

 

Our
stockholders have no conversion, preemptive or other subscription rights and there are no sinking fund applicable to the shares of common
stock or redemption provisions, except that: (i) public stockholders have the right to sell their shares to us in any tender offer or
have their shares of common stock converted to cash equal to their pro rata share of the trust account if they vote on the proposed business
combination and the business combination is completed; and (ii) if we hold a stockholder vote to amend any provisions of our certificate
of incorporation relating to stockholder’s rights or pre-business combination activity (including the substance or timing within
which we have to complete a business combination), we will provide our public stockholders with the opportunity to redeem their shares
of common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the trust account, including interest earned on the funds held in the trust account and not previously released to us to pay our taxes,
divided by the number of then outstanding public shares, in connection with any such vote. In either of such events, converting stockholders
would be paid their pro rata portion of the trust account promptly following consummation of the business combination or the approval
of the amendment to the certificate of incorporation. If the business combination is not consummated or the amendment is not approved,
stockholders will not be paid such amounts.

 

Preferred
Stock

 

There
are no shares of preferred stock outstanding. Our board of directors is empowered, without stockholder approval, to issue preferred stock
with dividend, liquidation, conversion, voting or other rights which could adversely affect the voting power or other rights of the holders
of common stock. However, the underwriting agreement from our initial public offering prohibits us, prior to a business combination,
from issuing preferred stock which participates in any manner in the proceeds of the trust account, or which votes as a class with the
common stock on our initial business combination. We may issue some or all of the preferred stock to effect our initial business combination.
In addition, the preferred stock could be utilized as a method of discouraging, delaying or preventing a change in control of us.

 

Warrants

 

Each
warrant entitles the registered holder to purchase one-half share of common stock at a price of $11.50 per whole share, subject to adjustment
as discussed below, at any time commencing upon the consummation of an initial business combination. However, no public warrants will
be exercisable for cash unless we have an effective and current registration statement covering the shares of common stock issuable upon
exercise of the warrants and a current prospectus relating to such shares of common stock. Notwithstanding the foregoing, if a registration
statement covering the shares of common stock issuable upon exercise of the public warrants is not effective within 120 days from the
closing of our initial business combination, warrant holders may, until such time as there is an effective registration statement and
during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant
to an available exemption from registration under the Securities Act. The warrants expire five years from the closing of our initial
business combination at 5:00 p.m., New York City time.

 

The
private warrants are identical to the public warrants underlying the units except that the private warrants will be exercisable for cash
(even if a registration statement covering the shares of common stock issuable upon exercise of such warrants is not effective) or on
a cashless basis, at the holder’s option, and will not be redeemable by us, in each case so long as they are still held by the
initial purchasers or their affiliates.

 

    2

    

    

 

We
may call the outstanding warrants for redemption (excluding the private warrants), in whole and not in part, at a price of $0.01 per
warrant:

 

		●	at
                                            any time while the warrants are exercisable;

 

		●	upon
                                            not less than 30 days’ prior written notice of redemption to each warrant holder;

 

		●	if,
                                            and only if, the reported last sale price of the shares of common stock equals or exceeds
                                            $18.00 per share, for any 20 trading days within a 30-day trading period ending on the third
                                            business day prior to the notice of redemption to warrant holders, and

 

		●	if,
                                            and only if, there is a current registration statement in effect with respect to the shares
                                            of common stock underlying such warrants at the time of redemption and for the entire 30-day
                                            trading period referred to above and continuing each day thereafter until the date of redemption.

 

The
right to exercise will be forfeited unless the warrants are exercised prior to the date specified in the notice of redemption. On and
after the redemption date, a record holder of a warrant will have no further rights except to receive the redemption price for such holder’s
warrant upon surrender of such warrant.

 

If
we call the warrants for redemption as described above, our management will have the option to require all holders that wish to exercise
warrants to do so on a “cashless basis.” In such event, each holder would pay the exercise price by surrendering the warrants
for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the number of shares of common
stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the “fair market value”
(defined below) by (y) the fair market value. The “fair market value” shall mean the average reported last sale price
of our common stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent
to the holders of warrants. Whether we will exercise our option to require all holders to exercise their warrants on a “cashless
basis” will depend on a variety of factors including the price of our common shares at the time the warrants are called for redemption,
our cash needs at such time and concerns regarding dilutive share issuances.

 

The
warrants have been issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant
agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure
any ambiguity or correct any defective provision, but requires the approval, by written consent or vote, of the holders of a majority
of the then outstanding warrants in order to make any change that adversely affects the interests of the registered holders.

 

The
exercise price and number of shares of common stock issuable on exercise of the warrants may be adjusted in certain circumstances including
in the event of a share dividend, extraordinary dividend or our recapitalization, reorganization, merger or consolidation.

 

In
addition, if (x) we issue additional shares of common stock or equity-linked securities for capital raising purposes in connection
with the closing of our initial business combination at an issue price or effective issue price of less than $9.50 per share of common
stock (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any
such issuance to our founders or their affiliates, without taking into account any founder shares held by our founders or their affiliates,
as applicable, prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity
proceeds, and interest thereon, available for the funding of our initial business combination on the date of the completion of our initial
business combination (net of redemptions), and (z) the volume weighted average trading price of our common stock during the 20 trading
day period starting on the trading day prior to the consummation of our initial business combination (such price, the “Market
Value”) is below $9.50 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to
115% of the Market Value, and the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to
be equal to 180% of the Market Value.

 

The
warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant
agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full
payment of the exercise price, by certified or official bank check payable to us, for the number of warrants being exercised. The warrant
holders do not have the rights or privileges of holders of shares of common stock and any voting rights until they exercise their warrants
and receive shares of common stock. After the issuance of shares of common stock upon exercise of the warrants, each holder will be entitled
to one vote for each share held of record on all matters to be voted on by stockholders.

 

    3

    

    

 

Except
as described above, no public warrants will be exercisable for cash and we will not be obligated to issue shares of common stock unless
at the time a holder seeks to exercise such warrant, a prospectus relating to the shares of common stock issuable upon exercise of the
warrants is current and the shares of common stock have been registered or qualified or deemed to be exempt under the securities laws
of the state of residence of the holder of the warrants. Under the terms of the warrant agreement, we have agreed to use our best efforts
to meet these conditions and to maintain a current prospectus relating to the shares of common stock issuable upon exercise of the warrants
until the expiration of the warrants. However, we cannot assure warrant holders that we will be able to do so and, if we do not maintain
a current prospectus relating to the shares of common stock issuable upon exercise of the warrants, holders will be unable to exercise
their warrants and we will not be required to settle any such warrant exercise. If the prospectus relating to the shares of common stock
issuable upon the exercise of the warrants is not current or if the common stock is not qualified or exempt from qualification in the
jurisdictions in which the holders of the warrants reside, we will not be required to net cash settle or cash settle the warrant exercise,
the warrants may have no value, the market for the warrants may be limited and the warrants may expire worthless.

 

Warrant
holders may elect to be subject to a restriction on the exercise of their warrants such that an electing warrant holder would not be
able to exercise their warrants to the extent that, after giving effect to such exercise, such holder would beneficially own in excess
of 9.9% of the shares of common stock outstanding.

 

No
fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive
a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of shares to be issued to
the warrant holder.

 

Contractual
Arrangements with respect to the Certain Warrants

 

We
have agreed that so long as the private warrants are still held by the initial purchasers or their affiliates, we will not redeem such
warrants and we will allow the holders to exercise such warrants on a cashless basis (even if a registration statement covering the shares
of common stock issuable upon exercise of such warrants is not effective). However, once any of the foregoing warrants are transferred
from the initial purchasers or their affiliates, these arrangements will no longer apply. Furthermore, because the private warrants were
issued in a private transaction, the holders and their transferees will be allowed to exercise the private warrants for cash even if
a registration statement covering the shares of common stock issuable upon exercise of such warrants is not effective and receive unregistered
shares of common stock.

 

Dividends

 

We
have not paid any cash dividends on our shares of common stock to date and do not intend to pay cash dividends prior to the completion
of a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial conditions subsequent to completion of a business combination. The payment of any dividends subsequent
to a business combination will be within the discretion of our then board of directors. It is the present intention of our board of directors
to retain all earnings, if any, for use in our business operations and, accordingly, our board does not anticipate declaring any dividends
in the foreseeable future.

 

Our
Transfer Agent and Warrant Agent

 

The
transfer agent for our shares of common stock and warrant agent for our warrants is Continental Stock Transfer & Trust Company, 1
State Street, 30th Floor, New York, New York 10004.

 

Certain
Anti-Takeover Provisions of Delaware Law and our Certificate of Incorporation and Bylaws

 

We
have opted out of Section 203 of the DGCL. However, our amended and restated certificate of incorporation contains similar provisions
providing that we may not engage in certain “business combinations” with any “interested stockholder”
for a three-year period following the time that the stockholder became an interested stockholder, unless:

 

		●	prior
                                            to such time, our board of directors approved either the business combination or the transaction
                                            which resulted in the stockholder becoming an interested stockholder;

 

		●	upon
                                            consummation of the transaction that resulted in the stockholder becoming an interested stockholder,
                                            the interested stockholder owned at least 85% of our voting stock outstanding at the time
                                            the transaction commenced, excluding certain shares; or

 

		●	at
                                            or subsequent to that time, the business combination is approved by our board of directors
                                            and by the affirmative vote of holders of at least 66 2/3% of the outstanding voting stock
                                            that is not owned by the interested stockholder.

 

    4

    

    

 

Generally,
a “business combination” includes a merger, asset or stock sale or certain other transactions resulting in a financial
benefit to the interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who,
together with that person’s affiliates and associates, owns, or within the previous three years owned, 20% or more of our voting
stock.

 

Under
certain circumstances, this provision will make it more difficult for a person who would be an “interested stockholder”
to effect various business combinations with a corporation for a three-year period. This provision may encourage companies interested
in acquiring our company to negotiate in advance with our board of directors because the stockholder approval requirement would be avoided
if our board of directors approves either the business combination or the transaction which results in the stockholder becoming an interested
stockholder. These provisions also may have the effect of preventing changes in our board of directors and may make it more difficult
to accomplish transactions which stockholders may otherwise deem to be in their best interests.

 

Our
amended and restated certificate of incorporation provides that our sponsor and its respective affiliates, any of their respective direct
or indirect transferees of at least 20% of our outstanding common stock and any group as to which such persons are party to, do not constitute
“interested stockholders” for purposes of this provision.

 

Number
and Terms of Office of Officers and Directors

 

Our
board of directors is divided into three classes with only one class of directors being elected in each year and each class serving a
three-year term. The term of office of the first class of directors will expire at our first annual meeting of stockholders. The term
of office of the second class of directors will expire at the second annual meeting. The term of office of the third class of director
will expire at our third annual meeting of stockholders. We may not hold an annual meeting of stockholders until after we consummate
our initial business combination.

 

Special
meeting of stockholders

 

Our
bylaws provide that special meetings of our stockholders may be called only by a majority vote of our board of directors, by our chief
executive officer or by our chairman.

 

Advance
notice requirements for stockholder proposals and director nominations

 

Our
bylaws provide that stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election
as directors at our annual meeting of stockholders must provide timely notice of their intent in writing. To be timely, a stockholder’s
notice will need to be delivered to our principal executive offices not later than the close of business on the 90th day nor earlier
than the opening of business on the 120th day prior to the scheduled date of the annual meeting of stockholders. Our bylaws also
specify certain requirements as to the form and content of a stockholders’ meeting. These provisions may preclude our stockholders
from bringing matters before our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders.

 

Authorized
but unissued shares

 

Our
authorized but unissued common stock and preferred stock are available for future issuances without stockholder approval and could be
utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit
plans. The existence of authorized but unissued and unreserved common stock and preferred stock could render more difficult or discourage
an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

 

    5

    

    

 

Exclusive
forum for certain lawsuits

 

Our
amended and restated certificate of incorporation provide that, unless we consent in writing to the selection of an alternative forum,
the Court of Chancery shall, to the fullest extent permitted by law, be the sole and exclusive forum for any (1) derivative action or
proceeding brought on behalf of our company, (2) action asserting a claim of breach of a fiduciary duty owed by any director, officer,
employee or agent of our company to our company or our stockholders, or any claim for aiding and abetting any such alleged breach, (3)
action asserting a claim against our company or any director or officer of our company arising pursuant to any provision of the DGCL
or our amended and restated certificate of incorporation or our bylaws, or (4) action asserting a claim against us or any director or
officer of our company governed by the internal affairs doctrine except for, as to each of (1) through (4) above, any claim (A) as to
which the Court of Chancery determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery
(and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination),
(B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, or (C) arising under the federal
securities laws, including the Securities Act as to which the Court of Chancery and the federal district court for the District of Delaware
shall concurrently be the sole and exclusive forums. Notwithstanding the foregoing, the inclusion of such provision in our amended and
restated certificate of incorporation is not be deemed to be a waiver by our stockholders of our obligation to comply with federal securities
laws, rules and regulations, and the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created
by the Exchange Act or any other claim for which the federal district courts of the United States shall be the sole and exclusive forum.
Although we believe this provision benefits us by providing increased consistency in the application of Delaware law in the types of
lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against our directors and officers. Furthermore,
the enforceability of choice of forum provisions in other companies’ certificates of incorporation has been challenged in legal
proceedings, and it is possible that a court could find these types of provisions to be inapplicable or unenforceable.

 

 

6Exhibit 10.11

 

	REVISED
    PARTNERSHIP AGREEMENT

 

BETWEEN
THE FARMS OF TERANGA S.A.

 

and

 

THE
MUNICIPALITY OF FASS NGOM

 

January 2021

 

     

     

    

 

    reminder

     

    Having regard to the Constitution;

     

    Having regard to Law 96-06 on the Code of Local
    Authorities;

     

    Having regard to Law No. 96-07 of 22 March 1996
    on the transfer of powers to the regions, municipalities and rural communities;

     

    Having regard to Law No. 2013-10 of 28 December
    2013 on the General Code of Local Authorities;

     

    Having regard to Law 64-46 of 17 June 1964 on
    the national domain;

     

    Having regard to the 2001 Law of 15 January 2001
    on the Environment Code;

     

    Having regard to Law 65-557 of 21 July 1965 on
    the Code of Contraventions;

     

    Having regard to Decree No. 64-573 laying down
    the conditions for the application of Law 64-46 on the national domain;

     

    Having regard to Decree No. 80-268 of 10 March
    1980 on the organization of livestock routes and laying down the conditions for grazing;

     

    Having regard to the Senegal River Water Charter
    adopted in Nouakchott on 28 May 2002;

     

    Having regard to the primatoral decree of 25 July
    2007 on the Charter of the Irrigate Domain of the Senegal River Valley and falémé

     

    context

     

    The political will of the State of Senegal in
    the area of decentralization is demonstrated through the reform of Act II, whose vision is to promote viable, competitive territories
    that will bring sustainable development. This ambition is based on strengthening the financial and institutional resources of local and
    regional authorities so that it can, in addition to the state’s actions, boost national economic growth. This expectation of the State
    vis-à-vis local authorities imposes on them a new posture in the management and valorization of the resources of the territories,
    especially those relating to land. The improvement of productivity and competitiveness levels in the territories depends to a large extent
    on major investments requiring the promotion of partnership with private investors, taking into accountthelimited means of local actors.

     

    2

     

    
 

    This new posture has always been supported by
    the administrative authorities and local technical services such as the ARD, the CADL and the SAED, among others. It is within the framework
    that he has developed, under the impetus of the SAED, land use and use plans and a charge of the irrigated domain. Through these tools,
    local and regional authorities are committed to ensuring the rational and sustainable exploitation of land and water resources in the
    region.

     

    The company “SENHUILE”, now “LES
    FERMES DE LA TERANGA” S.A. is a public limited company under Senegalese law, specialized in agro-industry. It is present in the region
    to develop partnerships with local authorities in order to make large investments in the development of the hydro-agrocultural potential
    of the area.

     

    This company aims to contribute to the reduction
    of Senegal’s trade balance deficit and the achievement of national food self-sufficiency. Through its commitments, the company intends
    to be part of the dynamics of territorial development that derives its foundations from the Emerging Senegal Plan(PSE) and its local declination,
    namely the Communal Development Plan (PDC).

     

    Thus, in perfect harmony with the political orientations
    of theState,the municipality of Fass Ngom and the company “LES FERMES DE LA TERANGA” decide to establish a win-win partnership
    subject to this revised convention. Indeed, following the revised agreement on 18 March 2018 granting the “FERMES DE LA TERANGA”
    an area of 5000 ha, it appeared the need to further explain certain terms of the agreement by defining their application modalities.

     

    This revised Convention shall be drawn up for
    this purpose in order to specify the procedures for the operationalisation of certain commitments and the conditions for the progressive
    development of holdings.

     

    Come in

     

    The company “LES FERMES DE LA TERANGA”
    S.A. having its registered office in NGnith YETTIYONE Richard-Toll,Arrondissementof Ndiaye, Dagana Department, registered in the Trade
    and Credit Register Mobilier of Saint-Louis under the number SN-STL-2018 M 0507, represented by its General Manager, Mr. Amadou FADIGA

     

    Hereinafter referred to as the “company”

     

    3

     

    
 

    On the one hand;

     

    and

     

    The Commune of Fass Ngom Arrondissement
    of Rao, Department of Saint-Louis, represented by its Mayor, Mr Aliou SARR domiciled in FAss Ngom, hereinafter referred to as the
    “commune”

     

    moreover

     

    It was agreed and agreed that:

     

    Article I: Modification of the name
    of the company

     

    “SENHUILE” S.A. has become “LES
    FERMES DE LA TERANGA” S.A. The minutes containing the deliberation on the modification of the company name will be given to the municipality
    for regularization in its archives.

     

    Article II: Purpose of the Convention

     

    On the basis of the old Agreement, the Parties
    agreed to incorporate the elements highlighted at the evaluation meeting on 19 March 2018 and 11 December 2020 in order to relaunch the
    momentum of the implementation of the Partnership Framework between the Parties.

     

    The project will cover the exploitation of several
    agricultural crops such as groundnuts, sweet potatoes, maize, onions and potatoes, among others, on an area of 5000 ha, of which 350 ha
    are returned to the populations under the PDIDAS project and 500 ha to be developed for the benefit of the populations for market gardening
    and fodder crops.

     

    Article III: Situation map of the agricultural
    perimeter “LES FERMES DE LA TERANGA” S.A.

     

    With reference to the map to be attached, it will
    be delimited the contours of the affected area, listed the villages and hamlets polarizing the affected area at the level of the Municipality
    of Fass Ngom and identified the livestock routes and production tracks impacted directly by the company.

     

    Article IV: Obligations of the municipality

     

    The municipality of Fass Ngom undertakes to:

     

		v	Make available to the company “LES FERMES DE LA TERANGA”
SA. the area of 5000 ha allocated on deliberation for an agricultural holding;

     

		v	Extract the 850 ha (350 ha for PDIDAS and 500 ha for populations)
to be allocated to the rightholders;

     

		v	Facilitate the company’s collaboration with producer organisations
or any other entity that could contribute to the achievement of its production objectives;

     

    4

     

    
 

		v	Set up, by order of the Mayor, a monitoring committee to ensure
compliance with the provisions of this agreement. This committee produces an annual evaluation report that the city council can use to
decide on the future of the collaboration;

     

		v	The committee will be chaired by the Mayor or his representative
and will be composed of the office of the municipal council, two representatives of the “FERMES DE LA TERANGA”, and may at
any time request the assistance of the services of the SAED, the DRDR, livestock, the ARD, the Regional Directorate of the Environment
and Classified Establishments (DREEC) of the Regional Inspectorate of Waters and Forests. If necessary, it may be extended to other structures
or resource persons. It meets at the invitation of the Mayor every six months after a visit to the agricultural perimeter of THE FARMS
OF LA TERANGA. The follow-up activities are taken care of by the municipality and the resulting decisions are enforceable in accordance
with the laws and regulations in force.

     

    Article V: Obligations of the company

     

    The company “LES FERMES DE LA TERANGA S.A.
    undertakes to:

     

		v	Develop the area in compliance with the Occupancy and Land Use
Plan of the municipality (POAS), the Charter of the Irrigated Domain of the Senegal River Valley (CDI), the heritage area of 3 marigots
(APR 3M) and the law on the national domain;

     

		v	Fully develop 500 ha intended for the populations, in the three
1st years with at least 10% from the1st year in accordance with modalities agreed with the populations (consultation company
and beneficiary populations);

     

		v	Technically support the populations in the exploitation of the
500 ha to practice fodder cultivation and vegetable cultivation;

     

		v	Develop grazing areas and water points for livestock at reasonable
distances allowing easy access to animals;

     

		v	Facilitate people’s access to new technologies enabling
them to improve their standard of living;

     

		v	Give priority to recruitment to the local workforce taking into
account the criterion of competence and promote local enterprises for the performance of certain tasks within their competence;

     

		v	Develop the opening tracks that will be regularly maintained
at its expense. These tracks will follow optimal trajectories in relation to the villages in the area covered by the project that benefit
from the right of way;

     

		v	Support the population in the implementation of social projects
(construction of classrooms, modern daaras, provision of school supplies, rehabilitation construction of places of worship, construction
and equipment health huts, equipped reference health center, drinking water points for the populations);

     

		v	Grant the municipality a budget support of 24,000,000 CFA francs
until June 2021. From this year, each amount to be paid in the following year (N+1) will be equal to that paid in the previous year (N)
plus 2% of the same amount. The payment is payable before the end of the1st half of the year to participate in the operation
of the municipality and the annual investment plan.

     

    5

     

    
 

		v	In case of force majeure, for economic, agronomic, or natural
reasons, war or act of war, sabotage, insurrection, civil unrest or requisition, health scourge (pandemic) the company may negotiate
with the committee to review its commitment for the year concerned.

     

		v	Receive and make available to the Monitoring Committee for the
Implementation of the Convention any information and documents it may have requested in order to carry out its mission properly.

     

    Article VI: Duration and entry into
    force of the revised Convention

     

    This agreement is intended for a period of fifteen
    years (15 YEARS) renewable after evaluation of the project. It shall enter into force on the date of signature.

     

    Article VII: Acceptance of clauses /
    amendment / Termination

     

    Both parties accept all of the above clauses which
    may not be amended or modified unilaterally unless there is written agreement and duly signed by both parties. If such an agreement should
    come into being, it will be the subject of an amendment to the Convention.

     

    In the event of non-compliance with the commitments
    by one of the parties, the other may terminate the contract after six (06) months’ notice.

     

    Article VIII: Disputes

     

    The municipality of Fass NGOM and the company
    “LES FERMES DE LA TERANGA” S.A. agree that disputes that may arise from the interpretation of the provisions of this agreement
    are first settled amicably.

     

    In the event of disagreement, the case will be
    brought before the court with territorial jurisdiction over the matter.

     

		Done at Fass Ngom, [24 February
    2021]
	 	 
	 	In five original copies
	 	 
	For THE FARMS OF THE	For the Municipality of Fass Ngom
	 	 
	TERANGA	 
	 	 
	The Director General, Mr	Le Maire, Mr Aliou SARR
	 	 
	Amadou FADIGA	 

 

 

6

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