documents echtes - estadão

MPC1 20151015 004 0001 F

1 0303.6395

Documents echtes

Procedure SV.14.1082-LL

Ordonnance/lettre MPC du: 16.02.2015

Reponse de:

du:

Bank Julius Bär & Co. AG

26.02.2015

MPC1 20151015 004 0002 F

0 3 0 3 6 3 9 5

Julius Bär

Num6ro de compte/d^pöt

0303.6395

Cocontractant

CHELFORD PROMOTlONS S.A.

Identification de l'ayant drolt eeonomlque(Formulaire A selon art. 3 et 4 CDB)

Le cocontractaht döcläre:(Indiquer par une croix ce qui convient)

D que le cocontractant est le seul ayant droit econörhique des valeurs patrimohiales

® que l'ayänt droit econorhique/les ayants droit economiques des väleurs pätrimohiale's est/sont:

Nöm, prönom (ou raisbn sociale). date de naissance. nätiönalite, Adresse/siege, Etat

TELES FERREIRA FILHQ Alüisio. 10 octobre 1957. Bresilien.

Rua Visconde de Morais 252 Apt 501 - Inga - Niteroi - Rio de Janeiro - Brasil

Le cocontractant s'engage ä communiquer spohtanement les modifications ä la banque.

Le fait de remplir intentionnellement ce formulaire de maniere erronöe est punissable (Art. 251 du Code penäl suisse, faux däns lestitres, reclusion jusqu'ä 5 ans ou enhprisonnement).

Lieu, date Signatare du cocontractant

BANQUE JULIUS BAER & CIE SA

MPC1 20151015 004 0003 F

0 3 0 3 6 3 9 5n

Julius Bär , '!

Demande d'ouverture de compte et de de>6t tltres pour les personnes morales(ge>ant de fortune inde>endant)

Numero de compte/ctepöt

0303.6395

Denomination du compte/d£pöt

CHELFORD PROMOTIONS S.A.

Raison sociale


Adresse

53rd E, Urbanizacion Marbella, MMG Tower, Piso 16

Forme jyridique Constituee selon le droit du pays suivant

Panama

Siege social

Panama

Date de constitution

07.05.2007

SUSP DGBP D.Monnaie de rSference DCHF D EUR

Veuil.lez oyvrjr. en plus du depöt titres:

Un compte couranten DCHF D EUR B USD DGBP G , „ „

Un compte metal DOr DArgent D —

Periodicite des releves de depot Dannuel Dsemestriel Btrimestriel Dmensuel

P6riodicite des releves de compte Dannuel Dsemestriel B trimestriel Dmensuel

Langue de la correspondance D en al.lemand Benanglais Denfrancais Denespagnol Denitalien

Envoi de la correspondance:

D A enyoyer ä l'adresse suivante (en cas de divergence avec l'adresse ci-dessus):

B A conserver par la banque (voir iConvention pour le courrier retenu par la banque», Form. 2222)

(E Duplicala ä l'adresse suivante:

Sodiprivös S.A. via Logical Access

Ces instructions sont yalables jusqu'ä nouvel avis ä la banque.

Lieu. date

BANQUE IULIUS BAER & CIE SA

MPC1_20151015_004_0004_F

* l "TO ;

/vn.-3

Julius Bär

Corporate Resolution and Signatare Form for Legal Entities & Fiduciary Investments(fpr Multiple Investments)

Accounts, Custody Accounts and Credit Transactlons

'..O

PsoKo-riok'S £Title of account / cystody account Account/custody acco.unt no

l (name),

A.duly authorised officer (corporate title),

hereinafter "Officer", of (Company name),

CHELF&ß.<) pRGKpTtOtJS -I.A-

a Corporation duly organised and existing under the laws of(country).

hereinafter "the Corporation", hereby certify that the followingis a true, correct and complete copy of the resolutions adoptedby the Board of Directors (or such other competent corporatebody) of the Corporation at a meeting duly convened and heldwith the requlred quor.um being present, on

(datel 13- 06. and that all such resolutions are

8l

in füll force and effect:

"Resolved, that Bank Julius Baer & Co. Ltd. (hereinafter"the Bank") is designated äs a custodian/depository ofthe Corporation;

Further resolved, that ajl drafts, cheques or other Instru-ments, instructions or Orders for payments or vvithdrawalsof funds against the accountfs) of the Corporation with theBank shall be signed by any of the Authorised signatorieslisted belpw y/ith the slgnature ppwer äs set forth below(the "Authprised Signatories");

Further resolved, that the Bank is authorised to place tothe credit of the account{s) of the Corporation, drafts,cheques or other funds or assets delivered to the Bank fordeposit for the account of the Corporation, provided thatif any such Item shajl bear, or be accqmpanied by, direc-tions for deposit to a speclflc account, then such depositshall be credlted to ttie specified account;

Further resolved, that the Bank is hereby directed to ac-cept, pay and/or apply any draft, check, Instrument, in-structions or Orders for-paymcnts or withdrawals of fundson the account(s) of the Corporation or payable to ;he or-der of the Corporation and bearing the signature(s) now orhereafter authorised by the Corporation, wiJhout Ilmlts ästo ampunt. wlthout Inquiry and without regard to its appli-cation or that of its proceeds, including drafts, cheques,

Instruments, instructions or Orders for payments or with-drawals of funds drawn or endorsed to the order of or infavour of any person whose signature appears thereon orany other officer, officers, agent or agents of the Corpora-tion, v/hich may be deposited with, delivered or trans-ferred to the Bank, to any other person, firm or corpora-tion, for the personal credit or account(s) of any suchofficer(s) or agent; and the Bank shall not be liable for anydispositions which any such officer(s) or agent(s) shallmake of all or any part of any draft, check, instruction ororder lor the payments or withdrawals of funds drawn onsuch account or accounts or payable to the order of theCorporation or the proceeds thereof, notwithstanding thatsuch disposition may be for the personal accountfs) orbenefit(s) or in payment(s) of the individual Obligation ofany such officer(s) or agent(s) to the Bank, or otherwise;

Further resolved, that (a) the Bank is designated äs a cus-todian/depository of the Corporation for assets of any na-ture, (b) the Authorised Signatories, actlng äs specified,are authorised to request the Bank to open an account/custody account in the name of the Corporation and areauthorised to execute and deliver in the name and on be-half of the Corporation to the Bank (an) agreement(s) äs tosafe custody regulations in the form required by the Bankfrom time to time, and (c) all withdrawals of funds, securi-tl.es and/or other assets from such acc.ount(s)/custodyaccount(s) and all Orders to purchase, receive, exchange,seil, pledge, transfer or deliver funds, securities and/orother assets for or from such account(s) / custodyaccounl(s) and all Orders to Charge any account(s) of theCorporation with any costs (including, without Ilmitatlon,payments, fees, taxes, assessments and expenses) relat-ing to securities and/or other assets or action relatingthereto shall be made upon the written order of the Au-thorised Signatories, acting äs specified, and (d) withoutlimit äs to ampunt, without inquiry and without regard tothe application of funds, securities and/or other assets,the Bank is authorised to take any action relating to anysuch funds, securities and/or other assets (including de-livery pr payment fpr the Corporation to any person order-ing such delivery(-ies) or payment(s) and registration(s) inthe name of any nominee or otherwise) upon the writtenorder of the Authpris.ed Signatories acting äs specified;

Further resolved, that the Authorised Signatories, actingäs specified, are authorised to open accounts in forelgncurrencies with any depository; to purchase, seil, transfer.ordispose of for present or future delivery foreign monies,credits or exchange on deposit or otherwise and all man-ner of Instruments representative thereof by endorsementor otherwise; and to execute and deliver any agreementsor Instruments relating to any such transactions;

BANK JULIUS BAER 8 CO. LTD. 1/4

MPC1 20151015 004 0005 F

Julius Bär

7. Further resolved, that the Corporation may borrow and/orobtain credits/loans in Swlss Francs or any other freelyconvertible currency (includlng all manner of credits/loans and/or letters of credit) from time to time from theBank;

8. Fürther resolved, that, (rom time to time, any assets of theCorporation may be charged, pledged, mortgaged, as-signed or subjected to a securtty Interest or lien in favourof the Bank äs security for any liability of any sort of theCorporation and/or a third party, and :hat the AuthorisedSlgnatpries. acting äs specified, are authorised to take anyaction, execute and deliver any agreements or instru-ments relating to such security interest or lien;

9. Further resolved, that the Authorised Signatories, actingäs specified, are authorised, for and on behalf of the Cor-poration, to establi.sh and malntaln accounts, whlch maybe margin accounts, with the Bank or to use deposit andcustody accounts äs trading accounts in Order to pur-chase. inv.est in or otnerwise acquire. seil (including cov-ered short sales), possess. transfer, exchange, pledge, orotherwise dispose pf, or turn to account of, or realise up-on, and,generally deal In and with any and all forms of se-curities and financlal Instruments. The Authorised Signa-tories, acting äs specified, are expressly authorised toinstruct the Bank tp make the aforementioned invest-ments in the Bank's own name but for the account and atthe risk of the Corporation with any third-party custodian;

10. Further resolved, that the Authorised Signatories, actingäs specified, are authorised to execute and deliver In thename and on behalf of ttie Corporation to the Bank (i) allagreements or Instruments (including. without limitation.the Bank's General Conditions, documents in connectionwith anyjpan(s) and/or credit(s) obtained from the Bank,the Bank's Conditions Governing Derivative Instruments,each in the form required by the Bank from time to time) or(ll)'fjnancial Instruments in connection with any account ofthe Corporation, in each case äs he/she/they may deemapprppriate;

11. Further resolved. that the Authorised Signatories, actingäs specified, are authorised to giye instructions to whichaddress Communications of the Bank shall be dispatchedand how the Bank shall communicate with the Corpora-tion;

12. Further resolved, that the Authorised Signatories, actingäs specified, are authorised to constitute and appoint oneor more attorneys, who need not be officers of the Corpo-ration, with füll authorization to eff ect any of the aforesaidtransactions at any time and in every respect and whlchpowerof attorney shall remain in effect in case of incapac-ity to act or bankruptcy of the Corporation and shall notexpire until the Bank receiv.es a written revocation. The

Authorised Signatories, acting äs specified, are also au-thorised to give the Bank a discretionary mandate to man-age assets in the account(s);

13. Further resolved, that the undersigned Officer of the Cor-poration shall certify to the Bank the names and officialsignatures of the presently duly elected and qualified Au-thorised Signatories of the Corporation and shall, äschanges occur, immediately certify such changes to theBank. The Bank shall be fully protected in relying on suchcertifications of the Officer and shall be indemnified andheld harmless by the Corporation from any and all loss.damage, liability, Claims and expenses whatsoever result-ing from honouring the signature of any Authorised Signa-tory so certified or refusing to honour any signature not socertified;

14. Further resolved, that the Bank, In addltion to and with thesame ef fecl äs if acting upon Orders or Instruments signeddirectly by the designated Authorised Signatories, may af-fect any of the aforesaid transacdons upon instructionsupon any message received by the Bank transmitted byany form of electronic communication (including, e.g.. fac-slmile, e-mail, Internet, etc.), which purports to originalefrom the Corporation and purports to be authenticated bya code or cipher then in force and agreed by the Bank andthe Authorised Signatories acting äs specified;

15. Further resolved, that in consideration of the Bank .actingin rellance upon the foregoing resolutions and the suc-ceeding resolutions, it shall be fully protected in so actingand the Corporation agrees to indemnify and hold harm-less the Bank from and against any and all loss. damage,liability, Claims and expenses whatsoever arising by,rea-son of its so acting;

16. Further resolved, that the foregoing resolutions shall re-main in füll force and effect until written notice shall»havebeen received by the Bank and that recelpt of said nptlceshall not affect any action taken by. or omlssion of, theBank pripr thereto; and

17. Further resolved, that the undersigned Officer be herebyauthorised and directed to certify these resolutions to theBank and that the provlsions thereof are in conformitywith the laws applicable to. and the governing documentspf, the Corporation."

l hereby certify that there is no Provision In the governing docu-ments of the Corporation limiting the power of the Board of Di-rectors |or such other competent corporate body) to adopt theforegoing resolutions and that such resolutions conform with(I) the laws applicable to the Corporation and (ii) the govern-ing documents of the Corporation and that no vote or consentof the Corporation's shareholders is required in respect of theabove resolutions or this certification.

ölS i BANK JL'llUS 3AER & CO. LTD.

2/4

MPC1 20151015 004 0006 F

Julius Bär

Authorised Slgnatortes

Iherebycertirytnatthefollowing^^

^^^referenced account/custody account unless indicated otherwise below):

1tt«Last and first name of authorlsed sifMory

llNationality

Manner of signingindividually

D jointlyby

Dateofbirth

Manner of signingSt individuallyD jointlyby —

Signature

•-~ —<~^—i-»—;—r~j Sienine äs (corporate titley function}Last and first name of authorised signatory t *s~\

A Hjsjrr^ '^5^ÖULAX>--

Nationality

and first name of authorised signatory

Nationality

Last and first name of authorised signa>

Nationality

Last and first name of authorised signatory

Nationality

Last and first name pf authorised signatory

Nationality

Date of blrth

Manner of signingD individuallyD jointlyby—.

Date of birth

Manner of signingD individually3 jointly by

Signature

Signature

Manner of signingD individuallyC jointly by

Date of blrth

Signing äs (corporate title /funwqn)

Signature

Signing äs (corporate title /function)


Mannerof siG IndividuallyC jointly by


S RS i BANK IULIUS BAER & CO. LTD.

3/4

MPC1 20151015 004 0007 F

Thewlthout limltatlonSignatare

-thorlsed to disppw of

buslness dealings With' Slgnatories are au-

anu custody accounts,obllgatlons under mlls

substUute attpr-

neys.

The A«, Signa^es ffa wntten rev0 'O"' or

forms previously in effect.

Flduciary Investments

Julius Bär

vestmen stake account of any »P^fle

|nstruc1Ons relatlngrepayment If

o

0?^Ä»^^^vestment. The account ho« J ' J« J,« on the part ofgrees that he shall bear the r SK or the even,hge financlal Intermed 'W (*>« « d| rJ,Stne Bank-s ,or-

an Investment s pta d w th o k

the tmanciai »•».....-—•• • r ,.h one Of the Bank's for-that an Investment • P^^ h

finall alß0 co.er the riskelgn branches, the rlsk of detau mtermed.aryof default of the Bank Itsew. " we ^m on)y par.does not fulflll Its "m^' "e

nns r

0restrictlons and forelgn

tl.lly (for e«mple due to t n^ ta r« ne of domicl(

exchangecontrolslmposedjn^«^t currency); the Bankor In thß countTj OT in tho account noldß'

\. . i.ii_A^A/4 anlßlv tO aSSIRn *•" ^*'° T . _

duciary i, inanciannstltution "(herelnafter referred W a s r "W^ of apd at the rlsk ofBank's own name butfpr the ' accounx ^^^^j

the accpunt holder. *J*cSncy" he term and the

shall be obDgated spl ly to .the Claims agalnstthe ""^'_e account holder In any„ot already been »«" ^Äund by any other oblbotherway.The Ba,nk "? n mal be revoked by the Bank orgatlons. Thls declaratlon ^h

rfr°vocat|On shall have?he account holder at any tjne.The r^°C

either tjie death,

-

\\i\H

su?«aS8 BANK JULIUS 3AER& CO. LTD.

4/4

MPC1 20151015 004 0008 F

Deklaration / formulaire de Signatare

Denomination du compte/depöt

CHELFORD PROMOTIÖNS S.A.

Nom et prenom du client oude la personne autorisee a signer

Jean-Märc TörnareNationalite

Suisse

Date de naissance

18.03.1966

Nom et prenom du Client oude la personne autorisee ä signer

FumeauxNationalite

Suisse

Date de naissance

10.09.1963

Nom et prönöm du client oude la personne autorisee ä signer

Pascal CarretNationalite

Suisse

Date de naissance

05.10.1978

Nom et prenom du client oude la personne autorisde ä signer

Nationalitä Date de naissance

Nom et prenom du client oude la personne autorisee ä signer

Nationalite Date de naissance

*S BANQUE JULIUS BAER & CIE SA

0 3 0 3 6 3 9 5

Julius Bär

Numgro de compte/depöt

0303.6395

Nature de la signature(individuelle/collective)

Gollective ä 2Signature


Collective ä 2Signature


Collective ä 2Signature


Signature


Signature

Signature en qualite de



Signature en qualitg de

Signature en qualit£ de

MPC1 20151015 004 0009 F

3 6 95

Le client, par sä signature teile qu'apposöe ci-dessus, s'en-gage envers la banque pour toutes les opeVations effectuees.Les personnes autorisies ä signer, designees ci-dessus, reprö-sentent sans restriction la societe soussigne'e dans toutes sesrelations d'affaires avec la banque. Elles sont notamment auto-risees ä disposer des comptes et des depöts, ä contracter descredits et des obligations de chänge, ä donner quittance et ädonner procuration.

Le present formulaire de signature est valable jusqu'ä recep-tion par la banque d'une revocation ecrite, independamment detoutes inscriptions contraires au Registre du commerce et danstoutes publications ou de tous motifs d'extinction legaux. Lors-que plusieurs personnes sont autorisees ä signer, chacune d'el-les est reputäe disposer de la signature individuelle, sauf disposi-tions contraires communiquees par 6crit ä la banque.

Le client älteste l'authenticite et la validite de la/des signature(s)ci-dessus. Sauf mention co'ntraire, le present formulaire rem-place tous formulaires de signature anterieurs.

Le client reconnait s'dtre fait remettre par la banque lesdocuments suivants: Conditlons ge'ne'rales (CG), R6gle-ment de döpöt et brochure sur les «Risques particuliersdans le commerce de titresu. II en accepte expressömentles termes, notamment les dlsposltions relatives au cour-rier en banque restante (Chiffre 9 CG), aux modificationsdes Conditlons gönerales ou du Reglement de dlpöt (chif-fre 21 CG / Chiffre 7 du Reglement de döpöt), au secretprofessionnel du banquier (chiffre 18 CG), aux placementsfiducialres (chiffre 14 CG). II accepte e"galement les condi-tions qui lüi ont 6t£ communiquöes par la banque.

Lieu, date

Le conseiller ä la clientele

' -Andreas Saladln058 885 33 86

La banque binlficie d'un droit de gage sur toutes les va-leurs patrlmonlales du client dont eile a la garde pour lecompte de ce dernler, chez eile ou en tout autre lie'ü; eiledlspose par allleurs, pour toutes ses prötentions, d'undroit de compensatlon su'r toutes les cröances qu'elle d6-tient, quelle qu'en soit I'6ch6ance ou la rhonnaie. Des quele client est en demeure, la banque est en droit de proce-der, ä son choix, ä la r6allsatlon forc6e ou ä la vente de gröä gre des valeurs donnöes en gage.

Par la presente. le client autorise la banque ä effectuer. ä titrefiduciaire et en son nom propre mals pour le compte etaux risques du client, des placements ä terme fixe aupresd'autres succursales, d'äutres banques et, le cas ächeant,d'autres d^biteurs ä l'etranger; ces placements peuvent prendrelä forme de sous-participations dans des titres et droits detenuspar la banque ä titre fiduciaire.

Toutes les relations juridlques du client avec la banquesont soumises au droit suisse. Le Heu d'exöcutloh, le forde poursuite pour les client s domicilie's ä l'etranger et lefor ludiciaire de tous Ittiges est le domiclle de la banque äGeneve. La banque a toutefois le droit d'assigner le clientdevant le tribunal compe'tent 'de son domicile du deva'nttout autre tribunal ou for de poursuite competent.

rgnature(s) / signatufeisTau nom de la societe

2/2

MPC1_20151015_004_0010_F•f *»

Julius Bär

Corporate Resolution and Signature Form for Legal Entities

Deposit and Custodian Account*, Credlt Transactions and Tradlng Accounts

Title of Account / custody account Account / custody account no

CHgLFORD PROMOTIONS $A 0303.6395

duly authorized officer ( .), hereinafter ithe Officer>,corporate title

nf CHELFORD PROMOTIONS SA , a corporati.on duly organized and existing under the laws of ESQS£na__described herein äs «this Corporation» hereby certify tKat the fpllowing is a true copy of resolutions adopted by the Board

of Directors of this Corporation at a meeting duly held. a quorum being present, on r^ ^ 20.fi!ö_— and that such resolutionsare now in füll force and effect:

1. iResolved. that Bank Julius Ba.er & Co. Ltd. (hereinafterreferred to äs the iBank») is designated a depository of thisCorporation;

2. Further resolyed, that all drafts, checks and other Instru-ments, instructionsor ordere for the payment or withdrawalsof funds drawn against the account or accounts of this Cor-poration with the Bank shall be signed by any of the off icerslisted on page 3 (man.ner of signing according to page 3);and

3. Further resolved. that the Bank is autnorired to place to thecredit of the account, or any of the accounts, of this Corpo-ration, drafts, checks or other funds or property deliveredto it for deposit for account pf this Corporation, whether ornot endorsed with the name pf this Corporation by ru.bb.erstamp, facsimile, mechanical, manual or other signature,and any such endorsement by whomsoever affixed shallbe the endorsement of this Corporation, or otherwise en-dorsed, or unendorsed, provided that if any such item shallbear, or be accompanied by, directions {by whomsoevermade) for deposit to a specific account, then such depositshall be to the credit of such specific account; and

4. Further resorved, that the Bank is hereby directed to ac-cept and/pr pay and/or apply any d.raft, check, Instrument,instructipn or order for the payment or withdrawal of fundsdrawn on the account or accounts of this Corporation orpayable to the order of this Corporation and bearing thesignature or signatures now or hereafter authorized by thisCorporation, wlthput limlt äs to amount, without inquiry andwithout regard to its application or that of its proceeds, in-cluding drafts, checks. instruments, instructlons or Ordersfor the payment or withdrawal of funds drawn or endorsedto the order of or in favor of any person whose signatureappears thereon or any other officer or officers or agent oragents of this Corporation, whlch may be deposited with, ordelivered or transferred to the Bank, or to any other person,firm or corporatipn, for the personal credit or account of anysuch officer or agent; and the Bank shall not be liable forany disposition which any such officer or agent shall makeof all or any part of any draft, check, Instrument, instruc-tion or order for the payment or withdrawal of funds drawnon such account or accounts or payable to the order of thisCorporatipn pr the proceeds thereof, notwithstanding thatsuch disposition may be for the personal account or benef itor In payment pf the individual Obligation of any such officeror agent to the Bank, or otherwise; and

6.

8.

8; S SANK JULIUS BAER & CO. LTD.

Further resolved, that (a) the Bank is designated a custo-dian depository of this Corporation for property of any na-ture, (b) the said officer(s), acting äs above specified, is/are authorized to request the Bank to open a Custodian Ac-count in the name of this Corporation and is/are author-ized to execute and deliver in the name and on behalf ofthis Corporation to the Bank an agreement äs to safe cus-tody regulations in the form required by the Bank, and (c)all withdrawals of funds, securities and/or other propertyfrom such Custodian Account and all Orders to purchase,receive, exchange, seil, pledge, transferor deliver funds, se-curities and/or other prop.erty for or from such CustodianAccount and all Orders to Charge any account or accountsof this Corporation with any costs (including without limi-tation payments, fees, taxes, assessments and expenses)relating to securities and/or other property or action relat-ing thereto shall be made upon the written order of the saidofficer(s), acting äs above specified, and (d) without limit ästo amount, without inquiry and without regard to the appli-cation of funds, securities and/or other property, the Bankis authorized to take any action relating to any such funds,securities and/or other property (including delivery or pay-ment for this Corporation to any person ordering such deliv-ery or payment and registration in the name of any nomineeor otherwise) upon the written order of the said officer(s)acting äs above specified; and

Further resolved. that the said officer(s), acting äs ab.pvespecified, is/are authorized to open deposit accounts inforeign currencies with any depository; to purchase, seil,transfer, or dispose of for present or future delivery foreignmoneys, credits or exchange on deposit or otherwise and allm.anner of instruments representative thereof by endorse-ment or otherwise; and to execute and deliver any agree-ments or instruments relating to any such transactions;

Further resolved, that the said officer(s). acting äs abovespecified, is/are authorized to execute and deliver in thename and on behalf of this Corporation to the Bank suchagreements or instruments (including without limitation theBank's General Conditions in the form required by the Bank)in connection with any account or accounts of this Corpora-tion äs he/they may deem necessary or proper; and

Further reso.lved, that this Corporation borrow and/or ob-rain credit in Swiss Francs or any currency (including allmanner of credits and/pr letters pf credit} fr.pm tirne to timefrom the Bank; and

0303.6395 lam_usrl_F. 1/4

MPC1 20151015 004 0011 F

Julius Bär

9. Further resolved, that the said officer(s). acting äs above 14.specified. Is/are authorized to execute and dellver anydrafts, notes, agreements, trust receipts, security agree-ments, financing Statements or other documents in con-nection with any loan and/or credit obtained from the Bank,and to endorse, for discount or otherwise negotiable or non-negotiable Instruments held by this Corporation; and

10. Furlher resolved, that, from time to time, any property ofany sort of this Corporation may be pledged, mortgaged,assigned or subjected to a security Interest or lien ässecurity for any liability of any sort of this Corporationand/or another person, and that the sald off icer(s), acting 15.äs above specified, is/are authorized to take any actionand to execute and deliver any agreements or Instrumentsrelating to any such pledges. mortgages, asslgnments,security interests, or liens; and

11. Further resolved, that the said officer(s), acting äs abovespecified, is/are authorized, for and on behalf of thisCorporation, to establish and maintain Trading Accounts,which may be margin accounts, with the Bank or to use theDeposit and Custodian Accounts äs Trading Accounts inorder to purchase, invest in or otherwise acquire, seil (in-cluding short-sales), possess, transfer, exchange. pledge,or otherwise dispose of, or turn to account of, or realize 16.upon, and generally deal in and with any and all forms ofsecurtties including. but not by way of Ilmitation, shares,Stocks, bonds, debentures, notes, scrip, partlcipationcertificates, rights to subscribe, option warrants, certifi-cates of deposit, mortgages, choses in action, evidencesof indebtedness, commercjal paper, certificates of indebt-edness and certificates of interest of any and every kindand nature whatsoever, secured or unsecured, whetherrepresented by trust, participating and/or other certifi-cates or otherwise; and any and all commodities and/orcontract for the future delivery thereof, whether repre-sented by trust. participating and/or other certificates orotherwise; äs well äs to transact forward deals and Optiondeals in connectlon therewith. The said officer(s), acting 17.äs above specified, is/are expressly authorized to instructthe Bank to make the aforementioned Investments in theBank's name äs trustee for account of this Corporationwith any third party and to purchase and hold for accountof this Corporation subinterests, in Investments made bythe Bank; and

12. Further resolved, that the said officer(s), acting äs above 18.specified, is/are authorized to execute and deliver in thename and on behalf of this Corporation to the Bank suchagreements or Instruments (including, without limitation,the Bankis Conditions for Futures and Options Trans-actions in the form required by the Bank) in connectionwith any Trading Account or Trading Accounts of this Cor- 19.poration äs he/they may deem proper; and

13. Further resolved, that the said officer(s), acting äs abovespecified, is/are authorized to give instructions to whichaddress Communications of the Bank shall be dispatched,which address may be different from the address pf theheadquarters of this Corporation; and

Further resolved, that the said officer(s), acting äs abovespecified, is/are authorized to constitute and appoint oneor more attorneys, not being an of ficer of this Corporation,with füll authorization at any time and in every respect toeffect any of the aforesaid transactions and which powerof attorney Is to remain in effect in case of incapacity toact or bankruptcy of this Corporation and shall not expireuntil such time äs the Bank receives a written revocationfrom (one) of the aforesaid of ficer(s). As well äs to give theBank discretionary power to manage a Trading Account;and

Further resolved, that the Officer of this Corporation shallcertify to the Bank the names and official signature of thepresently duly elected and qualff led off Icers of this Corpo-ration and shall from time to time hereafter, äs changesin the personnel of said officers are made, immediatelycertify such changes to the Bank, which shall be fully pro-tected in relying on such certifications of the Officer andshall be indemnified and saved harmless from any and allloss. damage, liability, Claims and expenses whatsoeverresultlng from honoring the signature of any officer so cer-tified or refusing to honor any signature not so certified;and

Further resolved, that the Bank, in addition to and withlike effect äs if acting upon Orders or other Instruments,signed manually by the officer(s) designated in the fore-going resolutions, may act, in effecting any of the afore-said transactions, upon instructions.contained in any mes-sage receh/ed by it, transmitte.d by any form or mode ofcommunication whatsoever, such äs, without limitation fornew technologies, facsimile, e-mail, internet Communica-tions, etc., which purports to originale from this Corpora-tion and purports to be authenticated by a code or cipher(known äs a private test key) which is then in force andagreed upon by the Bank and the said officer(s) acting äsabove specified; and

Further resolved, that in consideration of the Bank actingin reliance upon the foregoing resolutions and the suc-ceeding resolutions, it shall be fully protected in so actingand this Corporation agrees to indemnify and save harm-less the Bank from and against any and all loss, damage,liability, Claims and expenses whatsoever arislng by reaspnof it's so acting; a.nd

Further resolved, that the forego.ing resolutions shallremain in füll force and effect until written notice of theiramendment or rescission shall have been received by theBank and that receipt of said notice shall not affect anyaction taken by the Bank prior thereto; and

Further resolved, that the Officer be, and he hereby is,authorized and directed to certify these resolutions to theBank and that the provisions thereof are in conformity withthe Charter and by-laws of this Corporation.!

go

0303.6395 iam_usr1_F, 2/4

MPC1 20151015 004 0012 F

l further certify that there is no Provision In the Charter or by-laws of this Corporation limiting Ihe power öl the Board öl Directors toadopt the foregoing resolutlons and that the same are in conformity with the provisions of said Charter and by-laws. neither of whichrequires or provides for any vote or consent of shareholders to authorize the adoption of such resolutions.

l further certify that the following persons are the duly elected and qualified officers of this Corporation and hold in this Corporationthe ppsitions Indicated belpw and that the following are the authentic. officlal signatures of said respective officers:

Last and first nameof authorized signatory

Manner of Signing(individually/jointly) Signing äs (corporate title)

TELES FERREIRA FILHO Aluisio INDIVIDUALDate of birth

B/oNatlonallty

Brasilian


Signatare

10.10.57

Manner of Signing(individualjy/jointly) Signing äs (corporate title)

BASTOS FARIA Ana PaulaNationality

Brasilian

R/nDate of birth Signatare

06.08.62


Na'tlonality



Dateof bii Signatare

Manner of(individuall Jolntly) Signing äs (corporate title)

Nationality Oate of birth Signatare







lam_usr1_E, 3/4

MPC1 20151015 004 0013 F

Julius Bär

The slgndterles Ilsted above (on page 3) are authorlzedwlthout (Imitation to repreeent thls Corporation whoseSignatur« appeara below In all Its buslneas deallngs wlththe Bank. In partlcular, they are authorlzed to dlspose ofaccounts and custody accounts, obtaln credlt, enter IntoObligation« under bllls of exchange, issue recelpts andappolnt subttltute attorneys.

These .signatures shall remain in effect until the Bank receivesa written tevocatipn, Irrespectiye of entries to the contrary inthe Cbmmefcial Register and other publications or any legalgrounds for expiratlon.

This Corporation whose Signatare appears below attests theauthenticity and validity of the above speclmen signatures. Thiscorporate fösolution supersedes all corporate resolutions and/or signatyre forms previously in effe.ct.

The account holder hereby conflrms that he has recelvedthe fpllowlng documents from the Bank: General Bank-ing Condltlons Includlng the Terms and Condltlons Ap-pllcable to Custody Account« and the brochure "SpeclalRlaks In J$eyritiea Trading*. The account holder herebyexpreuiy aeknpwledge« and agrees to the te.rmt thereof,In partlcular the provislpns relatlng to mall retalned bythe Bank (Claus» 9 pf the General Banking Condltlons),amendmefltB to the General Banking Condltlons / Termsand CondHkms Appllcable to Custody Accounts (clause21 of the General Banking Condltlons / clause 7 Terms

and Condltlons Appllcable to Custody Accounts), bank-cllent confldentlallty (clause 18 of the General BankingCondltlons), fiduclary deposlts (clause 14 of the GeneralBanking Condltlons), äs well aa any terms and condltlonsannounced by the Bank.

The account holder hereby authorizes the Bank to place timedeposits in 3 fiduciary capacity at any branch of the Bank out-side Switzerland, with other banks outside Switzerland or otherdeposlt-takers, äs approprlate, in the name of the Bank but forthe account and at the risk of the account holder. Such Invest-ments may Includ.e sub-pa.rtlcipations in securities and rightsheld by the Bank in a fiduciary capacity.

All legal relatlons between the account holder andthe Bank shall be governed by and construed In ac-cordance wlth Swlsa law. The domlclle of the Bank In

Geneva shall be the place of performance,the place of debt enforcement for account holders perma-nently resident or wlth reglstered offlce outside Switzer-land and th« placa of luriadlctlon for all proceedlngs. Not-wlthstandlng the foregolng, the Bank reserves the rlghtto refer any clalm agalnst the account holder to any courthavlng Jurlsdlctlon In the locatlpn pf the account holder'spermanent place of resldence or reglstered offlce, anyother court of competent Jurlsdlctlon, or permitted placeof debt enforcement

In witness whereof, l have hereunto subscribed my signatureand afflxed the seal of this Corporation.

Place, date

Officer (If the Officer under the powers conferred by the aboveresolutions is the only person authorized to sign or act on behalfof this Corporation, the certification of the resolutions rnust beconfirmed beloyv by another»<fic,er.)

Corporate Seal Confirmed (official Title)

Bank's client ad

General Banking Condltlons:2lOW>803 / Dlsclosure of client data in payment transactions:2180-0807

0303.6395 iam_usr1_F, 4/4

MPC1_20151015_004_0014_F( -9

'* f

>

» Mentor Management Corp.

s-.AI E? -J-WMI-

Panama

LISTE DE SIGNATURES DE MENTOR MANAGEMENT CORP

Le.s personnes ci-dessous ont la signature collective ä deux pour la societ6 MentorManagement Corp., Panama

Bernard Richter

Claudine Velen

Didier Fumeaux

Annule et remplace toute liste prec6dente.

Valable depuis le :

MPC1_20151015_004_0015_F

Julius Bär

Corporate Resolution and Signatare Form for Legal Entlties &Fiduclary Investments (for Multiple Investments)

Deposit and Custodlan Accounts, Credlt Transactions and Trading Accounts

Title of account / custody account Account / custody account no

l (narrte),

duly authorized officer (corporate title),

hereinafter "the Officer", of (Company name),

ddU Sna Corporation duly organized and existing under the laws of(country). . .

despribed herein äs "this Corporation" hereby certify that thefollowing is a true copy of resolutions adopted by the Board ofDirectqrs of thls Corporation at a meeting duly held, a quorumbeing present, on (date)

rJU)IQ and that such resolutions are now

l

in füll force and effect:

1. "Resplved, that Bank Julius Baer & Co. Ltd. (hereinafter re-ferred to äs the "Bank") is designated a depository of thisCorporation;

2. Further resolved, that all drafts, checks and other instru-ments, instructions or Orders for tha payment or withdraw-als of funds dfawn agalnst the account or accounts of thisCorporation with the Bank shall be signed by any of the of-ficer's listed on page 3 (manner of signing according topage 3); and

3. Further resolved, that the BanK is authorized to place to thecredit of the account, or any of the accounts, of this Corpo-ration, drafts, checks or other funds or property deliveredto it for deposit for account of this Corporation, whether ornot-endorsed with the name of this Corporation by rubberstarnp, facsirnile, mechanical, manual or other signature,and any such endorsernent by whomspever af flxe.d shall bethe endorsernent of this Corporation, or otherwise en-dorsed, or unendorsed, provided that if any such item shallbear, or be accompanied by, directions (by whomsoevermade) for deposft to a speclfic account, then such depositshall be to the credit of such specific account; and

4. Further resolved, that the Bank is hereby fllrected toacceptand/or pay and/or apply any draft, check, Instrument, in-'struction or order for the payment or withdrawal of fundsdrawn on the account or accounts of this Corporation orpayable to the order of this Corporation and bearing thesignature or slgnatures now or hereafter authorized by thls

Corporation, v.-ithout limit äs to amount, without inquiry andwithout regard to its application or that of its proceeds, in-cluding drafts, checks, instruments, instructions or ordersfor the payment or withdrawal of funds drawn or endorsedto the order of or in favor of any person whose signature ap-pears thereon or any other officer or officers or agent oragents of this Corporation, wnich may be deposited with, ordelivered or transferred to the Bank, or to any other person,firm or corporation, for the personal credit or account ofany such officer or agent; anc the Bank shall not be llablefor any disposition which any such officer or agent shallmake of all or any part of eny draft, check, Instrument, in-struction or order for the payment or withdrawal of funds

'drawn on such account or accounts or payable to the orderof this Corporation or the proceeds thereof, notwithstand-ing that such disposition may be for the personal account orbenefit or in payment of the individüal Obligation of anysuch officer or agent to the Bank, or otherwise; and

5. Further resolved, that (a) the Bank is designaled a custodi-an depository of this Corporation for property of any na-ture, (b) the said ofticer(s), acting äs afaove specified, is/sreauthorired to request the Bank to open a Custodian Ac-count in the name of this Corporation and is/are authorizedto execute and deliver In the name and on behalf of thisCorporation to the Bank an agreement äs to safe custodyregulations- in the form required by ihe Bank, and (c) alliwithdrawals of funds, securities and/or other property fromsuch Custodian Account and all Orders to purchase, re-ceive, exchange, seil, pledge, transfer or deliver funds, se-curities and/or other property for or from such CustodianAccount and all Orders to Charge any account or accountsof this Corporation with any costs (Inctuding without limita-tion payments, fees, taxes, assessments and expenses) re-lating to securities and/or other property or action relatingthereto shall be made upon the written order of the saidofficer(s), acting äs above specifisd. and (d) without limit ästo amount, without inquiry and without regard to the appli-cation of funds, securities and/or other property, the Bankis authorized to take any action relating to any such funds,securities and/or other property (including delivery or pay-ment forthis Corporation to any person ordering such deliv-ery or payment and registration in the name of any nomlneeor otherwise) upon the written order of the said officer(s)acting äs above specified; and

6. Further resolved, that the said officer(s), acting äs ebovespecified, is/are authorized to open deposit accounts inforeign currencies with any depository; to purchase, seil,transfer. or dispose of for present or future delivery foreignmoneys, credits or exchange on deposit or otherwise,andall manner of instruments representative thercof by en-dorsement or otherwise; and to execute and deliver anyagreements or instruments relating to any such transac-tions;

BANK JULIUS BAER 5 CO. LTD.

MPC1 20151015 004 0016 F

Julius Bär

7. Further reaolved, that the said officer(s), aoting äs abovespecified, is/are authorized to execute and deliver In thename and on behalf of this Corporation to the Bank suchagreemcnts or Instruments (including without limitatlon theBank's General Conditlons in the form required by ths Bank)in connection with any accoynt or accounts of this Corpora-tion äs he/they may deem necessary or proper; and

8. Further resolyed, that this Corporation borrow and/or ob-tain credit In Swiss Francs or any currency (including allmanner of credits and/or letters of eredit) from time to timefrom the Bank; and

9. Further resolved, that the said officer(s), acting äs abovespecified, is/are authorized to execute and deliver anydrafts. notes, agreements, trust recelpts, security agree-ments, financing Statements or other documenta in con-nection with any loan and/or eredit obtained from the Bankand to endorse, for discount or otherwise negotiable ornonnegotiable Instruments held by this Corporation; and

10. Further resolved, that, from time to time, any property ofany sort of this Corporation may be pledged, mortgaged,asclgned or subjected to a security interest or lien äs secu-rity for any liability of any sort of this Corporation and/oranother person, and that the said officer(s)," acting äs abovespecified, is/are authorized to take any action end £o exe-cute and.dellver any agreements or Instruments relatlng toany such pledges, mortgages, assignments, security inter-ests, or liens; and

11. Further resolved, that the said officer(s), acting äs abovespecffied. is/are authorized, for and on behalf of this Cor-poration, to establish and maintain Trading Accounts, whichmay be margin accounts, with the Bank or to use the De-posit and Custodian Accounts äs Trading Accounts in orderto purchase, invest in or otherwise acquire, seil (includingshort-sales), possess, transfer, exchange, pledge, or other-wise dispose of, or turn to account of. or realize upon, andgenerally djea.l In and with any and all forms of securities in-cluding, but not by way of limitation, shares. Stocks, bonds,debentures, notes, scrip, participation certificates, rightsto subscribe, Option warrants, certificates of deposit, mort-gages, chpses in action, evidences of indebtedness, com-mercial paper, certificates of indebtedness and certificatesof interest of any and every kind and nature whatsoever, se-cured or unsecured, whether represented by trust. particl-pating and/or o.ther certificates or otherwise; and any andall commodi.ties and/or contract for the future deliverythereof, whether represented by trust, participating and/orother certificates or ptherwise: äs well äs to transact for-ward deals and Option deals in connection therewith. Thesaid officer(s), acting äs above specified, is/are expresslyauthorized to instruct the Bank to make the aforementionedInvestments in the Bank's name .äs trustee for account ofthis Corporation with any third party and to purchase andhold for account of this Corporation sublnterests In Invest-ments made by the Bank; and

12. Further resolved, that the said offlcer(s), acting äs abovespecified, is/are authorized tp execute and deliver In thena,me and on behalf of this Corporation to the Bank suchagreements or Instruments (including, without limitation,the Bank's Condltions for Futures and Options Transactionsin the form required by the Bank) In connection with anyTrading Account or Trading Accounts of this Corporation äshe/they may deem proper; and

13. Further resolved, that the said officer(s), acting äs abovespecified, is/are authorized to give insrructions to whichaddreas Communications of the Bank shall be dispatched,which address may be different from the address of theheadquarters of this Corporation; and

14. Further resolved, that the said officer(s), acting äs abovespecified, is/are euthorized to constitute and appoint oneor more attorneys. not being an officer of this Corporation,with füll authorlzation al any time and In every respect toeff ect any of ths aforesaid transactions and which power ofattorney is to remain In effect in case of Incapacity to act orbankruptcy of this Corporation and shall not expire untilsuch time äs the Bank receives a written revocation from(one) of the aforesaid officer(s). As well äs to give the Bankdiscretionary power to manage a Trading Account; and

15. Further resolved, that the Officer of this Corporation shallcertify to the Bank the narnes and official signature of thepresently duly elected and qualified officers of this Corpo-ration and shall from time to tims hereafter, äs changes inthe personnel of said officers are made, immediately certifysuch changes to the Bank, which shall be fully protected inrelying on such certifications of the Officer and shall be in-demnified and saved harm|ess from any and all loss, dam-age, liability, Claims and expenses whatsoever resultingfrom honoring the signature of any officer so certified orrefusing to hpnor any signature not so certified; and

16. Further resolved, that the Bank, in addltion to and with likeeffect äs if acting upon Orders or other Instruments signedmanually by the officer(s) rtesignated in the foregoing reso-lutions, may act, in effecting any of the aforesaid transac-tlons, upon instructions contoined in any message receivedby it, transmitted by any form or mode of communicationwhatsoevsr, such äs, without limitation for new technolo-gies, facsimile. e-mail, Internet Communications, etc.,which purports to originale from this Corporation and pur-ports to be authenticeted by a code or cipher (known äs aprivate lest key) which is then in force and agreed upon bythe Bank and the said officer(s) acting äs above specified;and

17. Further resolved, that in consideration of the Bank acting inreliance upon the foregoing resolutions and the succeedingresolutions, it shal! be fully protected in so acting and thisCorporation agrees to indemnify and save harmless theBank from and against any and all loss, damage, iiability,Claims and expenses vyhatsoever arising by reason of its soacling; and

18. Further resolved, that the foregoing resolutions shali re-main in füll force and effect until v/ritten notice of theiramendment or rescission chall have been received by theBank and that receipt of said notice shall not affect any ac-tion taken by the Bank prior thereto; and

19. Further resolved, that the Officer be, and he hereby is, au-thorized and directed to certify these resolutions to theBank and that the provisions thereof are in conformity with.the Charter and by-laws of this Corporation."

g

BANK JULIJS BAER & CO. LTD. 2/4

MPC1 20151015 004 0017 F

l further certlfv that there is no Provision in the Charter or by-laws of this Corporation limiting the power öl the Board of Directors todoPU e o So n'g Sutions and that the same are in conformity with the provisions of salcl Charter and by-laws. ne.ther of wh,ch

requires or provldesfor any vote or consent of shareholders to authorize the adoption of such resolut.ons.

l further eertlfy that the following persons are the duly elected and qualified officers of this Corporation and hold in this Corporationthe posiSs indicated below and that the following are the authentlc. offlcia.l signatures of sald respect.ve officers:


Manner ofsigning(individually/jciiritty)

fA R (U AluJsto.

Nationality


Nationality


Nationality

Last and firat nameof authorized signatory

Nationality

Last and first nameof aulhorized signatory

Nationality


Nationality

Date of birth09

7Manner ofsigning(individually/jointly)

Date of birth

Manner of signlng(individually/jointly)

Date of birth

Manner ofsigning(individually/jointly)

Date of birth

Manner of signing(individually/jointly)

Date of birth

Manner of signing(individually/jointly)

Date of birth

Signing äs(corporat^Vt|e)

BANK JULIUS 8AER& CO. LID.3/4

MPC1 20151015 004 0018 F

Julius Bär

The slgnatorles Ilsted above (on page 3) are authorlzedwlthout (Imitation to represent this Corporation whoscSignatare appears below in all Its buslness deallngs withthe Bank. In particular, they are authorlzed to dispose ofoccounts and custody accounts, obtain credlt, enter Intoobllgatlons under bllls of exchange, Issue receipts and ap-polnt substltute attorneys.

These signatures shall remain in effect until the Bank receivesa written revocation, irrespectiye of entries to the contrary inthe Commercial Register and other publlcations or any legalgrounds for expiration.

This Corporation whose signature appears below attests the au-thenticity and validity of the above speclmen signatures. Thiscorpprate resolution supersedes all corporate resolutions and/or signature for m s previously in effect.

The account holder hereby conflrms that he has reeelvedthe follpwlng documents from the Bank: General BankingConditions including the Terms and Conditions Applicableto Custody Accounts and the brochure "Speclal Rlsks InSec.urltles Tradlng". The account holder hereby expresslyacknpwledges and agrees to the terms thereof, In particu-lar the provisipns relating to mail retained by the Bank(clause 9 of the General Banking Conditions), amend-ments to the General Banking Conditions / Terms andConditions Applicable to Custody Accounts (clause 21 ofthe Generaj Banking Conditions / clause 7 Terms and Con-dltions Applicable to Custody Accounts), bank-cllent con-fidentiality {clause 18 of the General Banking Conditions),flduclary deposlts (clause 14 pf the General Banking Con-drtipns), äs well äs any terms and conditions announcedby the Bank.

The account holder hereby instructs the Bank to place Invest-ments with other banks or financial institutions or with a foreignbranch of the Bank (hereinafter referred to äs "financial inter-mediary") in the Bank's own narrte but for the account of and atthe risk of the account holder. The Bank may choose the finan-cial intermediary, the amount. the currency. the term and theother conditions of the Investments at its own discretion. Theaccount holder shall be entitled to issue the Bank with specificwritten Instructions relating to an Investment or to the financialintermediary with whom said Investment is to be placed. The

Bank shall only be bound to take account of any specific writteninstructions relating to the reinvestment of Investments due forrepayment if these are received at least 3 days before the In-vestments in question is mature. The Investments shall beplaced within the limits of the account holder's available assets.The Bank has the sole Obligation of paying to the account holdersuch amounts äs have been credited to it. at its free disposal. inthe form of repayment of the principal and of interest. The Bankshall Charge the account holder a commission in accordancewith its current Schedule of Fees in addition to the costs assocl-ated with the Investment. The accourt holder has been informedand agrees that he shall bear the risk of default on the part ofthe financial intermediary (del credere risk). In rhe event that anInvestment is placed with one of the Sank's foreign branches,the risk of default shall also cover the risk of default of the Bankitself. If the fir.ancial intermediary does not fulfil its commit-ments or fulfils them only partially (for example due to transferrestrlctions and foreign exchange controls imposed in its owncountry of domicile or in Ins country of the investment curren-cy), the Bank shall be obligated solely to assign to the accountholder the Claims against the financial intermediary that havenot already been transferred to the account holder in any othervvay. The Bank shall not be bound by any other obligations. Thisdeclaration may be revoked by the Bank or the account holderat any time. The revocation shall have no impact on any ongoingInvestments. Weither the death, incapacity to act nor bankrupt-cy of the Client shall trigger the revocation of the present decla-ration.

All legal relatlons between the account holder and theBank shall be governed by and construed In accordancewith Swiss law. The domicile of the Bank in

Gencve shall be the place of perform-ance, the place of debt enforcement for account holderspermanently resident pr with rcgistered offlce outsideSwitzerland and the ptace of jurisdiction for all proceed-ings. Notwithstanding the foregoing, the Bank reservesthe right to refer any Claim against the account holder toany court having jurisdiction In the locatlpn pf the ac-count holder's permanent place of resldence or registeredofflce, any other court of cpmpetent Jurisdiction, or per-mltted place of debt enforcement.

In witness whereof, l have hereunto su'oscribed my signature and affixed the seal of this Corporation.

Place, date

Officer (If the Officer under the powers conferred by the aboveresolutions is the only person authorized to sign or act on behalfof this Corporation, the certilication of the resolutions must beconfirmed below-by another officer.) ^ f

if4

S BANK IULIUS EAER & CO. LTD.

General Banking Cond!tions:2105-0902 / Disolosure of Client data in payment transactions: 2180-0909

4/4

,MPC1_20151015_004_0019_F'*£•

REPUBLICA DE PAN; «•» \* V» C-• W C»

REGISTRO PUBLICO DE PANAMA No.228315l REOISTRg

C E R T I F I C A

CON VISTA A LA.. 8OLICITUD 1O -

PAG. l// JOMAPA20 //

coo

9110

— • —— QUE LA SOCIEDAD(JHELFQRD PROMOTIONS S.A.

ENCUENTRA REGISTRADA LA FICHA 566778 DOC.)I:BZ DE MAYO DE DOS MIL SIETE ,QUE LA SOCIEDAD SB ENCUENTRA VIGENTE

113O14O DESDE EL

''£ QUE firUS DIRECTORES SON:2 . 1 ) MIGUEL ATAULFO SANCHIZ LOPEZ| 2 ) ANDRES M. SANCHEZ

3 ) LUIS CARLOS VBRGARA DIAZ

BUS DIGUATARIOS SOM:l PRE8IDEHTEiTESOREROISECRETARtO

MIGUEL ATAULFO SANCHIZ LOPEZANDRES M. SAMCHEZLUIS CARLOS, VERGARA DIAZ

oZ

QUE LA REPRESEKITACJION LEGAL LA EJERCERA:HO COHSTA.

ä- QUE SU AGENTE RESIDENTE ES: ALEMAN,CORDERO»GALINDO & LEE

'!• Q.UE SU DURACION ES PERPETUAST QUE SU DOMICILIO ES PANAMA

"• DERECHO :DE FIRMA:l COBT RESPECTO A CUALQUIER ACTO,TRANSACCION O NEGOCIO DE LA SOCIEDAD,l COMPRQMETERA A LA SOCIEDAD LA FIRMA INDIVIDUAL DEL PRESIDENTE.DELl -SECRETARIO Y DEL TESORERO.§-• QUE ES.ÜNA SOCIEDAD ANONIMA DEBIDAMENTE CONSTITUIDA Y EXISTENTE CONFORMEl .A LAS LEYES DE LA HEPUBLICA DE PANAMA. •——— •

£l

EXPEDIDG» Y FIRMADO.EN LA PROVINCI A DE PANAMADEL DOS:MIL DIEZ A LAS 07:O6:54.P.M.

«OTA: ESTA CERTIFICACION PAGO DERECHOSPOiR UN VALpR DE B/. 3O.OO

: COMPROBANTE NO. 10 - 911ONO. CERTITICADO: S. ANONIMA - 122556F.ECHA: Jueves 11, Noviembre DE 2O10

// JOMAPA2O //

KL ONCE DE NOVIEMBRE

APOSTILLE

Et presente documento pu

jDERTIFieADO

aS

MPC1 20151015 004 0020 F

REPUBLIC OF PANAMAPUBLIC REGISTRY OFFICE No. 228315

IN VIEW OF PETITION 10 - 9110

C E R T I F I E S :THAT THE CORPORATION-

CHELFORD PRQMOTIONS S.A.is recorded at Microjacket 566778, Document 1130140äs of May Ten.Two Thousand Seven.

That this corporation is in good standing.

That its directors are:1 - MIGUEL ATAULFO SANCtflZ LOPEZ2 - LUIS CARLOS VERGÄR A DIAZ3 - ANDRES M. SANCHEZ

That its officers are:PresidentTreasurerSecretary

- MIGUEL ATAULFO SANCHIZ LOPEZ- ANDRES M. SANCHEZ- LUIS CARLOS VERGARA DIAZ

That its Resident Agent is: ALEMAN, CORDERO, GALINDO & LEE

That its duration is perpetual.

That its dpmicile is Panama.

Signature Right: In respect to any act, transaction or business of the corporation, the corporationshall be bpund by the individual signature of the President, the Secretary and the Treasurer.

That it is a corporation duly constituted andin existence in accordance with the laws of the Republicof Panama. rt

Issued and signed in the Province of Panama, Eleventh day of November of Two Thousand Ten at07:06:54, P.M.

NOTE: This certificate paid revenuestamps for the value of US$30.00VoiicherN°10-9110Certificate No.: Corporation - 122556Date: Thursday, November 11, 2010 :-JOMAPA20 " • o- ., /ni • -M xSigned (Hlegible)

JOHEL ANTONIO COCCIOCertifier

There is a seal which reads: REPUBLIC OF PANAMA, PUBLIC REGISTRY OFFICE

APOST1LLE(Conventipn de la Haye du 5 octpbre 1961)1. Cpuntry: PanamaThe present public document2. Has been signed by Elizabeth Quijada3. acting in his capacity of Certifier4. and has a seal/revenue stamps for 30.00

CERT1HKD5. In Panama 6. on November 12, 20107. by Administrative Services8. undernumber82,3169. Seal/Revenue Stamp 10. Signature

2.00 (lUegible)

There is a seal which reads: REPUBLIC OF PANAMA, MINISTRY OF GOVERNMENTAND JUSTICE, Accpunting Department.

MPC1 20151015 004 0021 F

«*»*•,

REPUBLICA DE PANAMAPROVINCIA DE PANAMA

NOTARIA QUINTA DEL CIRCÜITO

Lic. DIOMEDES EDGARDÖ CERRUDN O T A R I O

TELEFONOS: 223-2974223-2"979

TELEFAX: 223-2982

E-mail.: deca gc@cwpänama.ne

COPIA

ESCRITURA No. de de Mayb de•H.

.2007.

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POR LA CUAL: se protocoliza el PACTO SOCIAL de la sociedad ahönima denörmnada,-.

CHBLFORD PROMOTIONS S.A.

MPC1 20151015 004 0022 F

REPUBLICA DE PANAMA-.PAPEL NOTARIAL;' •

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i c Artü. BERÜßtlCA DE PANAMA

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ESCRITUKA PUBLICA NUMERO DIEZ MLL CLISNTO BESEN TA Y BE/10

(10,166) •-

Por la cual se protocoliza el PACTO SOCIAL de la sociedad anönima denominadä

CHELFÖRD PROMÖTION8 S.A. —

———— —Panama, 7 de Mäyö de 2007 r -

En la ciudad de Panama, Capital de la Repüblica y Cabecera del Circuito Notarial del mismc

nombre, a los siete (7) dias del mes de Mayo del ano dos mil siete (2007), ante mi, Licenciadc

DIOMEDES EDGARDO CERRUD AYALA., Notario Püblico Quinto del Circüito de Panama],- ij

con cedüla de identidad personal nümero ocho-ciento setenta y uno-trescientos urib

(8-171-301), comparecieron personalmente JOSß EUGENIO SILVA RITTER, varörv,

oficinista, con cedüla de identidad personal nümero ochö-döscientos veinticinco-mil veihte.

(8-225-1020) y DIANETH ISABEL MATOS DE OSPINO, mujer, secretaria, con cedüla de;.. / ' •*}*

identidad personal nümero ocho-doscientos veintiseis-dos mil doscientos ochenta y seisj

* " i(8-226-2286), ambos mayores de edad, panamenos, casados, vecinos de esta ciudad,1

personas a quienes döy fe qüe conozco y me entregaron parä su protocolizaciöh en estaj

Escritura y en efecto protocolizo EL PACTO SOCIAL DE LA SOCIEDAD ANÖNIMÄ!

DENOMINADA CHELFORD PROMOTION8 S.A. —-----

Dicho documento consta de dos (2) hojas escritas a mäquinay su coritenido se transcribe en

la copia de esta escritura.— Queda hecha la protoeolizaciön solicitada y se expedirän las

copias que soliciten los interesados.— El Notario advierte que una cöpia de este instrumento

debe registrarse y leida como les fue a los comparecientes en presencia de los testigos

instrumentales SILVIA HERNANDEZ, con cedüla de identidad personal nümero cuatro^j

setecientos diecisiete- ciento cincuenta y nueve (4-716-159) y LUIS MORALES, con cedüla

de identidad personal nümero cuätro-ciento cuarenta y cuatro-ochociehtos veiritidös

(4-144-822), ambos mayores de edad, panamenos y vecinos de esta ciudad, a quienes

conozco y son häbiles para ejercer el cargo, lo encontrarpn conforine, le impartieröri süj

aprobaciön y firman todos para cohstancia por ante mi el Notario que doy fe.T— Ei-Suscritp

MPC1 20151015 004 0023 F

E8TA E8CRITURA LLEVA EL NUMERO DIEZ MIL CIENTO SESENTA Y 8EI8—

. . . (10,166)-— .,„.....—..-,..

(Fdo.) Jose E. Suva.-— Dianeth M. de Ospino.-— Silvia Hernändez.-— Luis Moräles.

DIOMEDES EDGARDO CERRUD AYALA, Notario Püblico Quinto del Circuito de Panama.. --

PACTO SOCIAL DE CHELFORD PROMOTIONS S.A. .——-

Organuzada bajo la Ley General de Sociedades Anönimas de la Repüblica de

Nosotros, los suscritos JOSE EUGENIO SILVA RITTER, vafön, öficinista, con ce

identidad personal nümero 8-225-1020, y DIANETH ISABEL MATÖS DE OSPINO, mujer,'

secretaria, con cedula de identääad personal nümero 8-226-2286, ambos mayöres de edad,$::"

panämenös, casados, vecinos de estä ciudad, deseando formar una sociedad por accionejs,,... - -*:V

de cönformidad con las dispösiciones de la Ley 32 de 1927, sobre sociedades anönimaSi porf

*•?

el presente entramos en uii convenio de Organisation de tal sociedäcl anönüna cömo si. . . . : - . . . ' . . . •

PRIMERO: El nombre de la sociedad es: CHELFORD PROMOTIONS SJL -------- -—

SEGUNDO: El objeto principal de la sociedad es el de dedicarse en la Repüblica de Panämälo

en cualquier otro pais, colonia o territorio extranjero, a comprar, vender, transferir, disporier,

negöciar, financiar, permutar, poseer, administrar, dar o tomar dinero en prestamo, abrifjy

rriänejar cuentas bancarias en Panama ö en cualquier pärte del. mundo, dar o tomar <:ri

comisiön, hipoteca, prenda, arrendamiento, uso, usufructo, o ahticresis, töda cläse ''dej

^ ibienes, sean muebles o inmuebles, acciones o derechos y celebrar y efectuär toüos los actps,-

contratos, operaciones, negocios y transacciones de licito comefcio. La Corhpan'ia pödra-

dedicarse igualmente a realiäar todos los actos, contratos, operaciones, negociös, o ";

transacciones permitidas por la Ley a las sociedades anönimas. - ----

TERCERO: La duräciön de la sociedad serä perpetua osro pödra disolverse en cualquier

d -^\ 'momerito por resoluciön adoptada eh Reuniöri aiEfAcciönistäs, por jel vöto de la mäyöria de

las acciones emitidas. ~ — ..—. —

CUARTO. El capital social es de DIEZ MIL DOLARES (US$10,OOÖ.OO), moneda legal de los,

Estados Unidos de America, dividido en CIEN (100) acciones de un valor nominal de CI.EN;

, DOLARES (US$100.00) cada• una. Las acciones,podrän ser expedidas en fprinia nöminativä;

»•3S-I,<5i'i-.-"

MPC1_20151015_004_0024_F

REPUBLICA DE PAfPÄPEL NOTARIAL

iKaclonol lTimbres quo corrospondon öl preooritodocumonto, eoh pagädot ppr declaraclön • *Jurada eoflün RoaolucWndo lo DG) KJ' 201-2940de 27 oclubro do JOÖ4.

8/5/07 B/AOO -".i • 510166080307000001139720'.

NQTÄRIA QUINTA REL^CIRCUITO DE PANAMA

Difectiva. Con sujeciön a lo dispuesto en la Ley y a lo ,que estipula este Pactö Social, la

Junta Directiva tendrä el control absoluto y-lä direcciön plena de los negocios de la sociedad

QUINTO: La sociedad tendra su domicilio en la cmdad de ranama, rrtmncia ae Fanama;

Repüblica de Panama, y podrä establecer sucursales, y/o agencias en cualqüier lugar de la

Repüblica o en el extranjero, segun crea conveniente. --—-— -

8EXTO: El Registro de Acciones exigido por la Ley serä llevado en el lugar que designe la

Junta Directiva, dentro o fuera de la Repüblica. —

8EPTIMO: El nümero de directöres no serä menor de tres (3) ni mayor de cihco (5), peröi

podrä ser aumentado por la Junta General de Accionistas. -— —j

OCTAVO: Los primeros directöres son: JOSE E. SILVA R., MARTA DE SAAVEDRAJi

DIANETH M. DE O8PINÖ, todos con direcciön en Calle 53 E, Urbänizaciön Marbella, MMG

Towef, P'i'sö 16, Panama, Repüblica de Panama. — —-

NOVENO: Los Dignatarios de la Sociedad serän un Presidente, un Secretario y un Tesörefo,

nombrados por la Junta Directiva. La sociedad podrä tambien tener cualesquiera otrosfs

dignatarios, agentes o representantes que la Junta Directiva determine. Cualquieri

Dignatario podrä desempenar mäs de un puesto. - -

DECIMO: Los primeros dignatarios de la sociedad lo serän las personas sigüientes:

JOSE E. SILVA R., Presidente, MARTA DE 8AAVEDRA, f esorera, DIANETH M. DE O8PINO,

Secretaria. —^————^ —^ ————.-. -—

DECIMO PRIMERÖ: La Junta General de Accionistas constituye el poder supremo de lä

sociedad, pero en ningün caso podrä por un voto de la mayoria privar a los acciohistas dej

sus derechos adquiridos ni imponerles una resoluciön contraria al Pacto Social o a los]

Estatutos. —-— - —————'-. -— —r—\t

DECIMO 8EQÜHDO: Las sesiones de la Junta General de Accionistaä se podf an celebrär en - >w^;! r.if " '..'3'

i .

Panama o en el extranjero. ——— —— ,r\r,-.

DECIMO TERCERO La firma conjunta de cualesquiera dos (2) de los Directöres/Dignatarios

con respecto a cualqüier acto, transacciön o negocio de la sociedad, obligarä a la rhisma. ;

DECIMO CUARTO: Los negocios de la sociedad serän administrados y dirigidos por la Junta'

wuj^tiV

MPC1 20151015 004 0025 Fvsi/ywr jr

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cuanto fuere necesario para la representaciön y para la defensa de los bienes, haberes,

derechos e intereses de la Compania, judicial o extrajudicialmente.— DOS. Nombrar

funcionarios, gerentes, o represehtantes y apoderados generales p especiales, tarito en

Repüblica de Panama como en cualquier otro pais.-- TRES. Enajenar, ceder, träspasaf,

renunciar, gravar, hipotecar y arrendar parciälmente o en su totalidad las pröpiedades

la

laderechos de la Compania, asi como otorgar fianzas.— Las vacantes que ocurrieren en

Junta Directiva serän llenadas por el voto de la mayoria de los directores en ejercicio. Las

sesiönes de los Directores podrän celebfarse en la Repüblica de Panama o en el extranjerqj y

cualquier director podrä estar representado y votar por apoderado o apoderados ve'n^ »t

cualquierä de las sesiönes de la Junta Directiva.— .——.- —— — ~|~

DECDHÖ QUINTO: Ningün 'contrato u otra transacciön entre la speiedad y cualquier otjra

sociedad serä afectado o invalidado por el hecho de que cualquier director o dignatario He

esta sociedad sea director o dignatario de otra sociedad; y cualquier director o dignatario de

la sociedad, individual o maricomunadamente, puede ser parte o estar interesädo en

cualquier contrato o transacciön de esta sociedad. .—-— — -----

DEGIMO 8EXTO: El Agerite Residente de 1k sociedad en la Repüblica de Panama es la

forense MORGAN Y MORGAN, con oficinas en Calle 53 E, Ürbanizaciöri Marbella, Mti.G

Tower, Piso 16, Panama, Repüblica de Panama. —'

DfeCIMO 8EPTIMO: Cada uno de los süscriptores de este Pacto Social convienen en tomart

una (1) acciön. En fe de lo cual hemos extendido y firmado este Pacto Social en la Ciudad jle

Panama, Repüblica de Panama, a lös siete (7) diäs del mes de Mayo del ano dös mil siete

(2007). —- .—,--, ——- — T- ——

(Fdo.) Jose E. Silva R. - Dianeth M. de Ospiho ——

Este documento ha sido elaborado por la firma de abogädos MORGAN Y MORGAN.-i

(Fdo.) Por: MORGAN Y MORGAN- Luis Miguel Hincapie C. - ]-

Concuerda con su original esta copia que expido, ürmo y sello en la Ciudad de Panama,

RepüblicaLde Panama, a lös siete (7) diäs del nies de Mayo del ano dös mil sietef(20b7).,/ jrfCAS?*:

MPC1 20151015 004 0026 F

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NOTARIA QUINTA DEL CIRCUITO DE PANAMA

ingresado en el Kegistro Püblico de PanamaProvincia: Panama Fecha y Hora: 2007/05/09 14:09:25:4Tomo: 2007 Asiento: 77954Presentante: JOSE SILVA Cedula: 8-225-1020Liquidaciön No.: 70070p5532 Total Derechos: 60.00Ingresado Por: JOGUE

Inscrito en el Sistema Tecnolögicx) de Informaciöndel Regktro Püblico de Panama

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Notarfa Pübllca QuintaCircuito Notarial de Panama

REPÜBLICA DE PANAMA

Diomedes Edgardo GerrudN O T A R I O

COPIA AUTENTIGAESCRITURA PUBUCA N° 23,521 de 29 ,je Qctubre 201 0.

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POR LA GUAU se protocoliza el Acta de una Reuniön extraordinaria de los accionistas de

CHELFORD PROMÖTIONS S.A., en la cual se nombfan nuevos Direclöres,

Dignatarios y Agente Residente.

Raaictro Pübüco de Panamauepartamento de« ÖiMrto

fdgreeo da DocumentocCantWäd do Pj'p i Hgl'i.!>>od3: / ^_Pax y Salvo cic? U'irri'.icbk: CMstoal -^^ Coou _. —-_Paz y SsJvo de IDAAN: CrifltnaK^'-^ Copta "Tiisa Unica: Cfeinal . -^_ CopttPiano de Lote: Original '—-.Fach« y Nombre:^///^

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POR LA CUAL se protocoliza el Acta de una Reuniön extraordinaria de los accionistas de

CHELFORD PROMOTIONS SA, en la cual se nombran nuevos Directores, Dignatarios y

Agente Residente. _........... ... — ^„. -.i——

r^29 dec/ctubre de 2010. —- -— ————

—En la Ciudad de Panama, CapiJäl de la Repüblica y Cabecera del Circuito Notäfial del

mismo nombre, el veintinueve^S) de octubre de dos mil diez (2010), ante mi, Licenciädo

DIOMEDES EDGARDO CERRU^TNotariö Püblico Quinto del Circuito de Panamä> portador

de la cedula de identidad personal nümero ocho-ciento setenta y uho-trescientös uno (8-171-

, compareciö personalmenteel Licencidado ARTURO GERBAUO DE lAGUARDIA, väron,

mayor de edad, casado, abogado, panameno, vecino de esta ciudad, cön cedula de identidad

)ersonal nümero ocho-doscientos treinta-mil ochocientos setenta y seis (8-230-1876), a quien

conozco, en su caräcter de socio de la firma de abpgados ALEMAN, CORDERO, GALINDO

& LEE, Agente Residente designado en este acto de la sociedad CHELFORD PRÖMÖTIÖNS

A, sociedad esta debidamente inscfita en el Registrö Püblico, Secciön de Mercantil a fichäi//*

cinco seis seis siete siete ocho (566778L documento uno uno tres cero uno cuatro cero'

1130140), y me presentö parä su protocolizäciön en esta escritufa püblica, y al efectö

3rotocolizo, el acta de una Reuniön extraordinaria de los accionistas de la expresäda sociedad,

celebrada el dfa veintinueve (29) de octubre de dos mil diez (2010), redactada en ingles

acompanada de su traducciön al espanol hecha por traductor Püblico Autörizado.—

—Queda hecha la protocolizaciön solicitada y se expedirän las copias que söliciten los

f*|-Äf»^%c ^ f \ f\C - - - __ _ ___ ___••'•••••nreresauos.-•"""-•" — :—

—El Notario advierte al compareciente que una copia de esta escritura debe ser inscrita y

letdacomo le fue en presencia de los testigos instrumentales senores MAYLACASTREUTON DE

BOCANECRA, con cedula de identidad personal nümero cinco-doce-mil cuatrocientos sesenta

y seis (5-12-1466) y LUIS MORALES, con cedula de identidad personal nümero cuatro-ciento

cuarenta y cuatro-ochocientos veintidös (4-144-822), mayores de edad, panamenos y vecinos

de esta ciudad, a quienes conozco y son häbiles para el cargo, la encontraron conforme, le

impartieron su aprobaciön, y la firman todos para constancia, por ante mi, el Notario que doy

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QUINIENTOSVEINTIUNO—-J-——- , (23,521)—-- —..\.jL-ivr\Pi

(Firmado)ARTUROCERBAUDDELACUAROIA MAYLACASTRELLONDEBÖCANEGRA-- m)n. r.*v

LUISMORALES DIOMEDES EDCARDOCERRUD, NotarioPüblicoQuintodelCircuitode

.vRi\...i'.Nixf Panama.

MINUTESOF AN EXTRAORDINARYSHAREHOLDERSMEETINCOF—

(M r., x CH ELFORD PROMOTIONS S.A.—- -_—..~~ £ £; '»• g.. ^u i A ij* 'lN*l -^ . - -

v; In the city of Panama, Republic of Panama, at 11:45 a.m. of the 29* däy of October 2010, was ; ;£J

held an extraordinary shareholders meeting of the corporation CHELFÖRD PROMOTIONS ... .

_ . . . . . RC-in^V '3./\.-—~—-

Present at this meeting were represented all of the issued and outstandihg shäres of thes;,,'. \KI XV- • ' . !Rt l t

corporation, so noticeto the meeting was waived.—~-xoivKlxi.». .- j , "_

v'v.'xKix'ilr Being present a quorum, the meeting was declared opened and chaired by Mr. Miguel Ataulfo nKn -i\>i»-_X( ' VitIV.'l l ' . " l lRi'1 ' (.

SANCHIZ LOPEZ, in the absence of the President of the corporation, and the minutes was kept iwaiv"'^

by Mr. Andres M. SANCHEZ, in the absence of the Secretary of the corporation.-i i>v». ••:-. •'--•:

l CiR l '< ' l ' '^v '?* w, XK-.X..U The Chairman stated that the purpose of the meeting was to appöint new Directors and Officer$

| .C IK-V » > • - < • ,„

4 ' x : " ;u,\i> arid anew Resident Agent of the corporation in replacementof the föfmer. •—-—--—-- ! \^\ \'\^-\

Thereafter upon motion duly made and seconded, the following resolutions were uhanimoüsly u <l*'\ '.';y'\»x "••'"•' l'-'-t ' " ''

"? \'IA .

RESOLVED: To appöint the following persons äs new Directors and Öfficers of the corporation,. \_xinxB 1 . A

in replacementof the formen- n)(i.y

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Miguel Ataulfo SANCHIZ LOPEZ - Director and President, domiciled at 43 Street, Bella Vista,;.XXtA '•''

' M X V H A K I Panama, Rep. of Panama.- _ .. . .S.XMXN..IAR A ijti.«>^,'

Luis Carlos VERGARA DIAZ - Director and Secretary, domiciled at 8vä. calle a la izquierda, f_x| jn iriW..,..l

Calle Principal, Monte Oscuro, Panama, Rep. of Panama-

Andres M. SANCHEZ - Director and Treasurer, domiciled at East 53 Street, Urb. Marbella,

MMGTower, 2nd Floor, Panama, Rep.of Panama.-

FURtHER RESOLVED: In respect to any act, transaction or business of the corporation, the

1 XNNX\ x v=r corporation shall be bound by the individual signature of the President, the Secretary and the

r . \xx ' .x Ni'l ._ . . - . . . . . _ . - »Nl.xiMi/'l'iJ-•• ^ 'v ••'•' •-" "" ""l • • • • •-' "•' .•"••• ••• ' ;\\.\:i:>p-

MPC1_20151015_004_0030_F

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FURTHER RESOLVED: To appoint äs new Resident Agent of the corpöration, in replacemeht

öf the former, the law firm ALEMAN, CORDERO, GALINDO & LEE with address at East 53rd

Street, Marbella, MMG Tower, 2nd Floor, Panama, Republic of Panama.

FURTHER RESOLVED: To authorize the law firm ALEMAN, CORDERO, GALINDO & LEE(

Resident Agent of the Corporation, to appear before a Notary Public to protocolize the present

document and to proceed with its registration at Public Registry Office.-

—-^Therebeingnofurtherbusinesstodeal in the meeting, itwasadjourned.

,—(Signed) Illegible-Miguel Ataulfo SANCHIZ LOPEZ-Chairman of the Meeting- -——

—(Signed) Illegible - Andreis M. SANCH EZ - Secretary of the Meeting- — —

TRADUCClON • •• '• '~ _

_ACTA DE UNA REUNION EXTRAORDINARIAD^CCIONISTASDE -,

1 _ -CHELfOROfROMÖflONSSA--^—

En la ciudad de Panama, Repüblica de Panama, a las 11:45 a.m. del dfa 29 de octubre de

2010, fue celebrada una reuniön extraördinaria de.accionistas de la söciedad CHELFORD

PROMOTIONSS.A.— -— — -^-—~ —— *

Presentes en esta reuniön estuvieron representadas tödas las.acciones emitidas y er^cijculaciöri

de la söciedad, de modo que el avisoa la reuniön fue renunciado. — —

Estando presente un quörum, la reuniön fue declarada abierta y presidida por el senör Miguel

Ataulfo SANCHiZ LOPEZ, en ausencia del Presidente de la söciedad, y el actä fue levantäda por

el senor Andres M. SANCHEZ, en ausencia del Secfetario de la söciedad. — -.-—-_

El Presidente manifestö que el propösito de la reuniön era nombrar nuevös Directores y

Dignatariosy un nuevo Agente Residente de la söciedad en reempläzo de los änteriores.—^—-

Despuös de lo cual, por mociön debidamente hecha y secundada las siguientes resoluciones

fueronunäriimementeadoptadäs: ~ ~-—'—

SE RESOLVIÖ: Nombrar ä las siguientes personal como nuevös Directores y Dignatarios de la

söciedad, en reempläzo de los änteriores: ——-^———--—-

Miguel Ataulfo SANCHIZ Lofe - Director y Presidente, con domicilio en Calle 43, Bella Vista,

Panama, Rep. de Panama.— —

TV-. CASAM/y

»PI.TANAM]

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Luis Carlos VERCARA D\£Z.'- Director y Secretario, con domicilio en 8va. calle a la izquierda,

Calle Principal, Monte Oscuro, Panama, Rep. de Panama. --• •—

Andres M. SANCHEZ'- Director y Tesorero, con domicilio en Calle 53 Este, Urb. Marbella,

TorreMMC, 2do Piso, Panama, Rep. de Panama. - -----

SE RESOLVIÖ ADEMAS: Con respecto a cualquier acto, transacciön o negocio de la sociedad

comprometerä a la sociedad, la firma individual del Presidente, del Secretario y del Tesorero.-—

SE RESOLVIÖ ADEMAS: Nombrar como nueyoAgente Residente de la sociedad, en reemplazo

del anterior, a la firma de abogados ALEMAN, CORDERO, CALINDO & LEE con direcciön en

Calle 53 Este, Urb. Marbella, TorreMMC, 2do. Piso, Panama, Repüblicade Panama. ^™

SE RESOLVIÖ ADEMAS: Autorizar a la firma de abogados ALEMAN, CORDERO, CALINDO &

LEE, para comparecer ante Notario Püblico a protocolizar el presente documento y proceder

con su inscripcion en el Registro Püblico.-— -"—

No habiendo mäs asuntosque trataren la reaniön, esta fue claüsurada. —-'•

-—(Firmado) llegible - Miguel Ataulfo SA^CHIZ LOPEZ - Presidente de lä reuniöh ^—-•----

—(Firmado) llegible - And fes M. SANCH EZ - Secretario de lä reuhion-— —^——

Certifico que lo anterior es fiel traducciön del documento en ingles que me ha sido presentado.

Panama, 29 de octubre de 2010. - (Firmado) llegible - IVETTE CHIN DE VELASQUEZ

TraductoraPüblicaAutorizada-Espanol-Ihglesyviceversa.Res. 535 de3 de juniode2005.-—-

—El Notario hace constar que esta escritura püblica se otorgö en bäse a minuta refrendada

por el Licenciado ARTURO GERBAUD DE LA CUARDIA, abogado en ejercicio de lä firma de

abogados.Aj.EMAN, CORDERO, CALINDO & LEE. — *— —

—Concueida con su original esta copia que expido, sello y firmo, en la Ciudad de Panama,

""^Repüblica de Panama, el dia veintinueve (29) de octubre de dos mil diez (2010).

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INGRESAHO EN EL RBGISTRO PÜBLICO DE PANAMA

Provinci»r Panama

Tomo: 2010

Preaentante: MIGXTBL MORENO

Licjuidacion No. r 7010627563

Ingresado Por: IRMBPA03

Jofe de Dlorio

Fecha y Horai 2010/11/02 08s53i27:9

Aßiento« 194554

Cedulai 8-530-1705

Total Derecbos: 50.00

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Form W-8BEN

(Rev. February 2006)

Departmsnt of the TreasuryIntemal Revenüe Service

Certificate of Foreign Status of Beneficial Ownerfor United States Tax Withholding

K Sectlon references are to the Intemal Rovenue Code. > See separate Instructions.»•' Glve thls form to the withholdlng agent or payer. Do not send to the IRS.

0MB No. 1545-1621

Dp not use this form ton Instead, use Form:• A U.S. cltlzen or other U.S. person, includlng a resident allen Individual W-9• A person claimlng that Income Is effectively connected with the conduct

.of a trade or business In the United States W-8ECI• A fpreign.partnershlp, a foreign simple trust, or a foroign grantor trust (see instoictions for exceptions) W-8ECI or W-8IMY« A torelgn government, international organlzation, foreign central bank of issue, foreign tax-oxempt organlzation,

forelgh private foundatlon, or government of a U.S. possession that received effectively connected Income or that isclairning the applicabillty of sectlon(s) 115(2). 501 (c), 892, 895, or 1443(b) (see instructions) .W-8ECI or W-8EXP

Nöte: ,These ehtitles should use Form W-8BEN H they are claimlng treaty benglits or are providlng Ihe form only toClaim, they. are a'foreign person exempt from backu'p withholdlng.• A person äcting äs an Intermediary W-8IMYNote:, See Instructions for additiohal exceptioris.

Identification of Beneficial Owner (See instructions.)1 Name of IndMdüal or organlzation that is the beneficial pwner

CHELFORD PROMOTIONS SA3 Type of beneficial owner:

LJ Grantor Uns)Central bank of issue

D Individual IZI Corporation

LJ Comple* Irusl LJ Estale iD Tax-oxempl otganiiaiion LJ Private loundalion

2 Country of Incorporation or organizatlon

Republic of Panama

CD Dlsregarded entily CH Partnership D Simple tnjst

CD Oovemmont CD International organiialion

4 Permanent residence-address (street.-.apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address.

East 53rd Stre.et, Märb'ella, MMG Bullding, 2nd Floor

* City or town. state or province. Iriclude postaj code where appropriate.City of Panama

Country (do not abbreviate)Republic of Panama

5 Mailing address (if different from above).,

City or town, state or province. Include pöstal code where appropriate.

6 . U.S. taxpayer Identification number, if requlred (see instructions)

D SSNorlTIN D EIN

Country (do not abbreviate)

7 Foreign tax idenüfying number, if any (optional)

8 Reference number(s) (see instructions)

Claim of Tax Treaty Benefits (if applicable)

9 l certify that (check all that apply):a CD The beneficial owner is a resident of ................. v/ithin the meaning of the income tax treaty betv/een the United States and that country.

b CD If required, tha U.S. taxpayer Identification number is stated on line 6 (see instructions).

c CD The beneficial öwner Is not an Individual, derives the item (or Items) öf income for which the treaty benefils are claimed, and. if'appiicäble, meets the requiremerrts of the treaty Provision dealing with limitation on benefits (see instructions).

d D 'The beöeficial owner. is not an Individual, Is claiming treaty benefits for dlvidends received from a fo/elgn Corporation or interest from aU.S.' trade or business of a forelgh corporatiöh, -and meets qualified resident Status (see instructions).

e D Ths beneficial owner Is related tö the pe;rsori obligäted to pay the income wlthln the meaning of sectlon 267(b) or 707(b), and will lile- Form 8833 if the amount subject to withhblding received durlng a calendar year exceeds, in the aggregate, $500,000.

1 0 ' Speclal rates and condltlons (if applicable — see Inslructions): The beneficial owner Is claimlng the proyisions of Article ............. of the

treaty identifled on Ijne 9a above to daim a ............... % rate of withholdlng on (speclfy type of Income): ............ .................

Explain the reasons the beneficial owner meets the terms of the treaty article: ..............................................................

kS

Notional Principal Contracts11 D l have provided or will provide a Statement that identifles those notional princlpal contracts from which the income is not elfectively

. ,v .connected with the conduct of a trade or business In the Uniled States, l agree to Update thls Statement äs required. _

„ISBB^ U Certification _Uhder.penallies of perjüry. l declare that l have examlned the Information on thls form and to the oest of my knowledge and boliot it Is true. correct. and eomplele. lfurther certify under penallles.of peilury that: .,1 l am the' beneficial owner (or am aulhoiized to sign for the beneflctal ownoi) of all the Income to which this form rojates,•2 The beneficial owhor Is not a U.S. pereon,3 The Incöms to (wtilcri this form relates Is (a) not effectivety connected with Ihe conduct of a trade or business In (ha United States, (b) effectively connected but Isnot subject to tax undera/i Income tax treaty, or (c) the paruier's share of a partnership's effecth/e|y connected Iricbme, and4 For broker Imnsactions br barter oxchanges, the beneficial owner is an exempt fore!gn pereon äs dofined in the instructions.Furthermore, l 'authörize thfejomi to be a-ovlded to any withhölding agent that has control. receipt, qr custody of Ihs Income of which l am the, benelicial owner orany wHhholding agent ' t h a < r 7 a f e b u r j maXe paymenls of the Income of which l arntjurbeneficlal owner.

For Paperwork Reductibn Act Notlce, see separate Instructions. Cat. No. 250472 fom W-8BEN (Rev. 2-2006)

MPC1_20151015_004_0035_F g,co LTD.,m W-8BEN(Rev. February 2006)

D«partmer» of Ihe TreasuryInternal Revenue Servc«

Certiflcate of Foreign Status of Benefifldl Own«rfor United States Tax Withholding

Secöon references are to the Internat Bevenue Code^ *• "Give thte lärm to the wrthholding agent or

C3S-.FOMBNo. 1S45-1621

r .S. person, Mudh. a resident a£r. A per*» ctortng that income is effecllvely conoected wfth

• A foreign s.mple uw t .0a

. W-8ECI.W-8ECIorW-8IMY

pt organization,ie Oftria'

only to

n' they are a toreign person exempt from backup wh• A person acting äs an intermediaryNote: See instructions tor aMitional exceptions.

W-8IMY

of Beneticlal Owner (See instructions.)

™ ""äme of individual or organization that is the benefidal ownerCHELFORD PROMOTIONS S.A.

2 Country of incorporation or organization

Panama

3 Type of benefldal owner: D m<*vidual

Grantortrust d Complex trust

D Drsregarded enüty D Partnership D SUnple trust

Q International organiiation

4 Permanent residenoe address

Corporation

D Estata D Government

>n D Private (oundalion . . 7 AA.~* "surte no, or rural route) Do not use a P.O. box or .n-car of address.

Permanent residente ouuio^ ,au= »«•*» «r n, -ißth Plnnr53rd E Street. Urbanizacion Marbella. MMG Tower. 16th Floor

City or town, state or province. Indude postal code where appropriate.

Panama"g Mailing address (H d'rfferent from above)

Country (do not abbreviate)Rep. of Panama

Country (do not abbreviate)

7 Foreign tax idemifying number, K any (optional)

City or town. state or province. Include postal code where appropriate.

6 U.S. taxpayer iderrtHication number, if required (See instructions)

8 Reference numberfs) (See instructions)

,

• r^rrrrrrr-.^rr^r^^rr^'Explain the reasons the beneficial owner meets the terms of the treaty artKde:

o< Article of the

Notional Principal Corrtracts

^£S^ r^^c^ a^^^^" == . to update s tate^^^

under ponalöes of perjury, l de'claTelhat l have exammed the irrformatkx, on IM. lorm and to the besl of,

5C S±Ä !Ä1ÄSÄ to tfgn «or U» MnrteW < , o. a. tt» income U, «Weh tKs form r«a«es.

SägSg^£äg%tSS9S±^^^ÄÄVÄ'Ä-SÄjS^Ä^g« ^J SS?- -« . am «-«- o^ner „

fesÄCWJBttÄSSSPÄl^^

. |b) aHectrvel» connected but *

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• S -IIIS FORM REMWNS AT BANK IUUUS BÄR » CO. LTO.

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MPC1 20151015 004 0036 F

r W-8BEN(Rev. February 2006)

Department öl Ihe TreasuryIntemal Revenue Service

Certifjcate of Fpreign Status of Beneficial Ownerfor United States Tax Withholding

• Sectlon references are to the Intemal Revenue Code. >• See separate Instmctlons.•«• Qlve thls fomi'to the withholding agent or payer. Po not send to the IRS.

OMB NO. 1345-1621

Do not use this form for .• A u.S cltlzen or other U.S." person. Includlng a resident allen individual• A peraon claiming thät Income Is effectively connected wlth the .conduct

of a^träde or business In the, United States . . . - . . . , .•. A forelgn partnership, a foreign simple trust, or a forelgn grantor trust (see instructions for exceptions)• A foreign qovernmeht, International organlzation, lorelgn central bank of issue, forelgn tax-exempt organizatlon.

foreiqn private loundation, or goverriment of a U.S. possession that received effectively connected income or that isclaiming the applicabilityolseclion(s) 115(2). 501 (c), 892. 895. or 1443(b) (see Instructions)

Note: These entltles should USB Form W-8BEN H Ihey are claiming.treaty beriefits or are proviöing the form only to •Claim they are a forelgn person exempt from backup withholding.• A person actjng äs an Intermediary .Note: See instructions for additlonal exceptions.

Instead, use Form:. . . W-9

. . . . W-8ECI

.W-8ECIprW-8IMY

.W-8ECI or W-8EXP

W-8IMY

Identification'of Beneficial Owner (See inslructlons.]1 me oliiidivldual or Orgaanisation <thät is_thB,beneflclal ov/ner,

W.OMcrr<O/OS S. A2 Country of incorporation or organiz

Republic ot Panama

3 Type of beneficial owner:

CJ Grantor trustCentral banX of

D individual 0 Corporation D Disregarded entity

D Complex trust D Eslate ü Government[~] Tax-examot oroanization l~l Privato loundallon

(~l Partnersnip U Simple trust

O International organization

Permanent residence address (street, apt. pr suite no., or rural route). Do not use a P.O. box or in-care-of address.

53rd'Street, Marbella. MMG Building, 2nd Floor

City or town, state or pravince. Include postal code where appropriate.

Panama .5 Mailing address (if different from above)

Republic of Panama

Cily or tpwn, state or pravince. Include postal code where appropriate.

U.S. taxpayer identilicatlon number, if required (see ihstruclions).. D SSN or rriN D EIN

7 Foreign lax identifying i

Reference number(s) (see instructions)

Claim of Tax Treaty: Beheffls (if a'pplicäble)

10

D if required, the U.S. taxpayer Identification number is stated on line 6 (see instructions).D The beneficial owner Is not anlndividual, derives the item (or items) of income for which the treaty benefiteare cla.med, ano, ,f

-applicable meets the requirements of the treaty Provision dealing wi.h Ilmitation on benefrts (see ,nstruct.ons).

'D: The beneficial owner is noi an individual. is claiming treaty benefits for dividends received from a foreign corpora.ion or interes. from aU S trade or business of a foreign corporation. and msets qualified resident Status (see instructions).

D The beneficial owner is related to the person obügated to pay «he Income within the meaning o, sec.ion 2670.) or 707(b). and w„, ,„eForm 8833 if the amöunt subject to withholding received during a calenoar year exceeds, m the aggregate. SoOO.OOU.

Speclal rates and conditlons (if applicable^ee instructions): The beneficial owner is claiming the provlsions of Article of .he

trlaty Identified on llne 9a above to clalm a % rate of withholding on (soecify type of mcome):

Explaln the reasons' the beneficial dwner meets the terrns of the treaty artlcle:

Notional Principal Göhtractsa iimUJj' i^imm'*31 ' * "'^'K01 ^^^"*'MM*M __ „— --- . -- - --11 D Vhave provided or will prövide ä Statement that Iden.i.ies those hotiona. pnncipal contrac.s from whlch the in^me is not eHectlvety

comect-ed wlth the conduct of a trade or business in the United States, l agree to Update thls slatemenl äs required.

UÜde?pen*ieS of per|ury. l dec'^re that l have examined tho Information on this form and lo tho best of my kn ledse an

'o si9n tor the fonaf^l owner) «l all the ,ncon,e «o wNd, ,h,s lorm ralates.

ÄuTrized to sign for »e.iolicial ov;nor)

For^Räperv/ort'Re-duätiohÄctjNptice. .see separate (nsmicTfeas. Cai. No. 25047Z

. .............

E!PacityinwMch-actin9

Form (Rev. 2-2006)

AM(

MPC1 20151015 004 0037 F

ANNULEU.x'Uo0 3 0 3 6 3 9 5

Julius Bär

Power of Attprney

Title of account / custody account

CHELFORD PROMOTIONS S.A.Attomey (last and first name or Company)

Teles Ferreira Filho Aluisio

Account / custody account no.

0303.6395

For Individuais:Nationality

Brasilian

Date of blrth

10.08.1957

Relationship to Client

B.C.

For legal entlties:Domicile Country

Address (optional)

The Client hereby constitutes and appoints the Attorney namedabove to represent him legally in all respects in dealings withthe Bank. The signature and any and all declarations and actionsmade or taken by the Attorney shall be fully binding upon theClient for all legal effects. The Client attests the authenticity ofthe Attorney's signature.

In particular, the Attorney shall also be aythorized to dispose inall respects of'sscurlties and other a.ssets held in the accountspecified ab.ove, to'seil br revoke them or to enter into obligationsfor account of the Client. The Attorney may also take any action

Place, date

authorized under this power of attorney in f avour qf himself or infavour of third pa.rties.

This Authorization shall be governed by Swlss law. It shall notexplre upon the death of the Client or one of the Clients orby his belng legally declared missing and presumed deador In the event of hls Incapaclty to act or bankruptcy. TheAuthorization shall remain valid towards the Bank until receiptby the Bank of a written revocation. In case of the Client'sdemise, the power of attorney can be revoked by a legitimateheir at any time.

Attorni

Place, date

&-*(«Tjg rxg,RelationshjsrjSTaoaget

Andreas Saiocfln0588S63386

;£ BANK JULIUS BAER & CO. LTD. I/l

MPC1_201 51 01 5_004_0038_F

Suzanne BergerClient DocumentationBank Julius Baer & Co. Ltd., Geneva BranchRue de la Scie 10 - P.O. Box 3 142, CH-121 1 Geneva 3Telephone +41 (0) 58 885 6180, Telefax +41 (0) 58 885 38 58

[email protected] Baer cares abput the environment: Please dp not print this e-mail unless you really need to.

22.11.2010

MPC1 20151015 004 0039 F

Conditiöns generales

0 3 0 3 6 3 ?

Julius Bär

Denomination du compte/de'pdt

CHELFORP PROMOTIONS S.A.

Numero de compte/depöt

0303.6395

1. Dröit de dispositioh

Les formulaires de signature communiques ä la banque sontvalables jusqu'ä r^ception par celle-ci d'une r6vocation ecrite,independamment de toutes inscriptiohs contraires au Registredu commerce et dans toutes publications.

Lorsque plusieurs personnes sont autoris6es ä signer, chacuned'elles est reputee disposer de la signature individuelle, saufdispositions contraires communiquees par ecrit ä la banque.

2. Verrfication des signatures et de lä lögitlmation

La banque verifie la legitimation en comparant les signaturesavec les specimens döposes chez eile. Elle peut, sans y etretenue, verifier la legitimation plus extensivement.

Des lors que la banque a agi avec toute la diligence requise, toutdommage resultant de defauts de legitimation non deceles oude falsifications est ä la Charge de la cliente/du client (ci-apres«lecliehti).

3. Incapacite' civile

Tout dommage rgsultant de l'incapacite civile du client est ä laCharge de ce dernier, ä moins que ladite incapacite' civile n'aitele pubWe dans la Feuille d'avis officielle suisse. Les domma-ges resultant de l'incapacite civile des mandataires du client oud'autres tiers sont ä la Charge du client, sauf si la banque a et£informee par echt de ladite incapacite civile.

4. Iriformations concernant le client

Afin de pöuvoir beneficier d'un suivi optimal, le client informela banque sur sä Situation personnelle et financiere. La banquene tient compte de la Situation personnelle du client que dansla mesure oü eile en est informee par celui-ci. II appartient auclient de tenir la banque informee de tout changement intervenudans sä Situation personnelle. A defaut, la banque peut ä bondroit presumer que les dernieres informations communique'espar le client sont d'actualite'. Les mandats de gestion purementtechniques (sans mandat de gestion de fortune) et les mandatsde conseil configs ä la banque sont soumis en outre au Chiffre7 des presentes Conditiöns generales (CG) ainsi que, le casecheant, aux dispositions du contrat de conseil.

5. Avoirs sans nouvelles

Si la banque ne parvient pas ä prendre contact avec le clientet si ses recherches demeurent infructueuses, eile est Iggale-ment tenue d'enregistrer les avoirs de ce client dans une basede dönnees centralisee et de les repeVer spfecifiquement, afinde pouvoir les signaler au Service de renseignements ceritral.Les responsables de ce Service (equipö de systemes de söcuritede pointe) sont soumis. tout comme le personnel de la banque,

au secret professionnel du banquier. Pour toutes informationscomplementaires concernant les avoirs sans nouvelles, nousrenvoyons ä la brochure de l'Association suisse des banquiersintitulee Information aux client(e)s des banques suisses en vued'e'viter que les avoirs deviennent sans noüvelles». Cette bro-chure est disponible sur simple demande ä la banque.

6. Exäcütiön des ordres

La banque s'engage ä executer avec soin les ordres dümentsigngs qui lui sont transmis pendant les heures de service. Ellen'est pas tenue d'executer les ordres transmis par telephone,par telecopie, par telex ou par tout autre moyen electronique(p. ex. par courrier electronique) qui ne sont pas düment signesou qui ont et6 passes en dehors des heures de Service. Elle peutegalement refuser les ordres non conformes aux regles ou usagesdes bourses correspondantes.

Pour l'execution des ordres comme pour l'ensemble des rela-tions avec la banque, le samedi est assimile ä un jour ferie of-ficiel.

En cas d'executipn tardive ou de non-execution d'ordres, la ban-que ne peut etre tenue responsable que de la perle d'interets, ämoins qu'elle n'ait ete informe'e ä l'avance et en temps utile d'unrisque de dommage supple'mentaire.

Lorsqu'un client donne plusieurs ordres pour un montant totaldepassant ses avoirs disponibles ou les limites de credit accor-d§es, la banque est en droit de determiner ä son gr6, indepen-damment de la date d'emission ou de l'heure d'arrivee desditsordres, ceux qui seront executes en tout ou en partie.

S'agissant d'ordres de paiement vers l'etranger et/ou libelles enmonnaie etrangere, il convient en o'utre de respecter le Chiffre18 CG (secret professionnel du banquier).

7. Responsabilite' des de"cisions de placement

Des lors que le client ne confie pas ä la banque la gestiondes avoirs du compte/de'pöt süsrnentionnö, II prehd seulet sbus son entiere responsabilitö toutes les däcisions deplacement concernant ces avoirs. Le client reconnait quela banque ne saurait Stre tenue responsable desdites dG-clsions de placement, nl d'eVentuelles cons6quences enr6sultant.

La banque peut orienter le client en matiere de gestion en lüitransmettant, sur demande, des analyses et autres informa-tions. des renseignements sur les possibilites de placement,les marches, les entreprises, les cours, les changes, etc.. ouencore des recommandations de placement concretes. A ceteffet, eile s'appuie sur des informations et des sources qu'ellejuge fiables. Les recommandations de placement generales dela banque resultent principalement de sä politique de place-ment et s'adressent ä un large public. Quant aux recomman-dations de placement et aux propositions personnalise'es, elles

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ne tiennent compte de la Situation du client que dans la mesureou. lors de sä demande ä la banque, il a attirä son attention surce point. Le client reconnait que lä banque ne sauralt Stretenue responsable des d6cislons de placement qu'll prenddans ces circonstances, ni d'eVentuelles consäquencesen räsultant.

Les conseils de la banque ne portent notamment pas sur lesconsäquences fiscales des placements pour le client ni, de ma-niere generale, sur la Situation fiscale de ce dernier. A cet egard,le client doit consulter un conseiller fiscal local. II reconnait quela banque ne saurait etre tenue responsable des incidencesfiscales liees ä des placements conseille's par eile.

Si le client, sans tenir compte des conseils de la banque etapres avoir ete düment informö par eile, au debut de la rela-tion d'affaires, sur les risques courus (notamment par la remisede la brochure (Risques particuliers inherents aux opörationssur valeurs mobilieresi), lui transmet un ordre concernant leplacement des avoirs du compte/döpöt susmentionne', la ban-que n'est pas tenue de verifier cet ordre ni, le cas echeant, dedeconseillerau client le placement projete.

En l'absence d'un mandat de gestion confiö ä la banquepar le client, la surveillance des placements du compte/d6pöt susmentionnä incombe aü client. La banque n'est pastenue de surveiller les placements, meme s'ils ont ete effectuSssur ses conseils. Notamment, en l'absence d'un mandat de ges-tion confiö par le client et y compris dans des situations parti-culieres, la banque n'est pas tenue de prendre des decisionsconcernant les avoirs du client enregistres dans le compte/de-pöt susrhentionne, ni d'intervenir en vue de leur placement oude leur liquidation.

8. Erreurs de transmission

Des lors que la banque a agi avec toute la diligence requise,tout dommage lie ä l'utilisation des Services postaux ou deceux d'entreprises de transport, du telegraphe, du telephone,du telex ou d'autres moyens de transmission (p. ex. le courrierelectronique), et cause notamment par des retards, pertes, er-reurs, transmissions tronquees, doubles expeditions. etc., est äla Charge du client.

9. Communications

Les Communications de la banque sont reputees valablementtransmises des lors qu'elles ont £16 expädiees conformömentaux dernieres instructions du client, ou ailleurs ä ces instruc-tions pour des raisons de protection du client. A defaut d'ins-tructions concernant l'acheminement de la corfespondance,la banque tient Neu de domicile d'envoi. Toute correspondanceest reputee avoir ete envoyee ä la date figurant sur les doublesconserves par la banque ou sur les listes d'envoi. Le courrier enbanque restante est re'pute' recu par le client ä cette m§me date.S'agissant des regles applicables au courrier en banquerestante (d£lai de garde et coüts), nous renvoyons auformulaire aConvention pour le courrier retenu par labanque».

10. R£clamations et contestatlons

Les reclartiations du client concernant l'exöcution ou la non-execution d'ordres de toute nature sont ä präsenter des re-ception de l'avis litigieux; lorsqu'un avis de la banque ne par-

vient pas au client, la reclamation doit etre pr6sent6e commesi le client avait re;u l'avis par voie d'acheminement postalnormal.

Les contestations de releves de compte ou de depöt sont ä prä-senter dans un delai d'un mois. A l'expiration de ce delai, lesreleves sont räputes approuväs, meme si le client n'a pas signed'avis de bien-trouve. L'approbation expresse ou tacite d'un re-leve de compte ou de depöt dans son ensemble vaut approba-tion de tous les postes y figurant, ainsi que des eventuelles re-serves de la banque.

11. Comptes courants

La banque arrete les comptes trimestriellement, semestriel-lement ou annuellement, ä son gre. Les releves periodiquespeuvent etre remplace's par des releves journaliers. Outre lesintärets et commissions convenus, fixes ou usuels, lä banquergpercute sur le client ses propres frais ainsi que les eventuelsfrais de tiers.

La banque peut reclamer a posteriori au client le remboursementde tout montant (correspondant p. ex. ä des impöts ou taxes)dont eile est debitee apres que les comptes ont et6 arretes.

Si la banque credite le compte du client en assortissant l'ecriturede la mention «sauf bonne fini, eile peut annuler cette ecriture sieile n'encaisse pas le montant correspondant.

Sauf convention ecrite stipulant le contraire, la banque peut.unilatäralement et ä tout moment, modifier ses taux d'ihte'retet commissions en fonction de la Situation, notamment en fonc-tion des conditions bancaires en vigueur. II lui appartient d'enaviser le client de mahiere appropriee.

12. Comptes en monnaie «Strengere

Les actifs de la banque correspondant aux avoirs de Clients enmonnaie Prangere sont placäs dans la meme monnaie, ä l'inte-rieur ou ä 1'exteVieur de la zone monetaire concernee. Le clientSupporte au prorata toutes les consequences economiques. juri-diques et autres susceptibles d'affecter, consecutivement ä desmesures administratives ou ä d'autres evenements politiques,les actifs de la banque dans le päys de la monnaie ou du place-ment. Ceci vaut aussi pour les mesures administratives affectantdes operations qui n'ont pas ete initiees par la banque.

S'agissant des comptes en monnaie etrangere, la banque peutä tout moment honorer ses engagements envers le client enremettant des cheques tires sur des banques correspohdantesou en cedant sä creance en monnaie Prangere ä hauteur dumontant requis.

Le client peut disposer de ses avoirs en monnaie Prangere enprocädant ä des opärations de vente ou de virement, en tirantou en etablissant des cheques et, avec l'accord de la banque,par tout autre moyen.

Sauf instructions contraires expresses du client, les credits oudebits en monnaie etrangere sont cr£dites ou debiles en francssuisses des lors qu'aucun compte en monnaie etrangere n'a 6teouvert. Si le client ne possede que des comptes en monnaiestierces, la banque peut comptabiliser le montant dans l'une deces monnaies. Le decompte se fait aux cours du jour oü le mon-tant en monnaie etrangere est mis ä la disposition de la banqueou debloquä par eile.

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13. Cheques, effets de change et titres similaires

Si des cheques. effets de change et titres similaires remis äl'encaissement ou escomptes demeurent impayes. ou si lemontant correspondant n'est pas disponible, ou si, en raison dudroit applicable, ce montant doit etre restitug apres paiement,la banque peut debiler le client du montant creditö pröcödem-ment; eile conserve alors tous les droits liäs aux titres jusqu'äce qu'un 6ventuel debit ait 6te solde.

S'agissant de l'encaissement d'effets de change et titres simi-laires sur des places ne disposant pas de representations ban-caires süffisantes (places secondaires), ou de l'encaissementd'effets de change et titres similaires ä äche'ances rapprochees,la banque ne saurait etre tenue responsable de la Präsentationet de la production de protets en temps utile. S'agissant de lapre'sentation ä l'acceptation pour le compte de ses Clients, etmeme si eile facture ä ce titre des frais et commissions, la ban-que n'encourt aucune responsabilite. La Provision des traitestirees sur la banque et des effets de change domicilies chez eiledoit lui parvenir au plus tard la veille de la date d'e'che'ance.

14. Placements flduciaires

Les placemehts ä terme fixe et ä 48 heures de pr6avis aupresd'autres banques ou, le cas echeant, aupres d'autres debiteurs,seront effectues par la banque ä titre fiduciaire en söh pro-pre nom, mais pour le compte et aux risques du client;le cas echeant, egalement sous forme de sous-participationsä des titres et droits detenus par la banque elle-meme, ä titrefiduciaire. Dans le cas de tels placements fiduciaires, la banquen'a d'autres obligations que celle de porter au credit du comptedu client les montants qu'elle a recus ä sä libre disposition, enremboursement du capital et des interets de la part des debi-teurs etrangers. Au cas oü un debiteur n'executerait pas, ou enparlie seulement, ses obligations, ou que la röglementation enmauere de transfert et de change en vigueur dans son pays oudans celui de la monnaie de placement l'empecherait de s'enacquitter, la banque est simplement tenue de ceder au client lacreance detenue ä titre fiduciaire. La banque n'est astreinte äaucune autre prestation. Si pour des placements de ce genre,non seulement les soldes crediteurs du compte du client sontutilise's, mais Egalement des limites de credit concedees surce compte, soit sur ordre du client ou sur ordre special d'unmandätaire, les obligations du client decoulant de ce rapport decredit existent independamment du remboursement des place-ments. La banque est autorisee ä debiter les commissions fidu-ciaires applicables pour ces placements fiduciaires.

15. Dlspositions complgmentaires relatives auxcomptes d6biteurs et aux droits de gage et decompensation

Pour toutes ses creances et pre'tentions envers le client,actuelles et futures, 6chües ou non, et en partlculier pourles crödits en blanc ou les cr£dits octroyäs contre des ga-rantles speciäles, la banque böneTicie d'un droit de gagesur toutes les valeurs pätrimoniales du client dont eile a\ä gärde pour le compte de ce dernler, chez eile ou en toutautre Heu, ou qui, pour une autre raison, se trouvent dansles locaux de la banque ou ä sä portöe, alnsl que sur tousles droits qu'elle dgtient ä titre fiduciaire pour le comptedu client.

En cas de mlse en demeure du client, la banque est ehdroit de proce'der Imme'dlatement oü ultörieurement, äson cholx, ä la räalisätion förcle ou ä la vente de g'r6 ägr6 des valeurs donnles eh gage, sah's conside'rätion desopärations ä terme en cours; eile peut egälemeht liqui-der par rachat les positiohs issues de ventes ä döcouvert.La banque est autorisee ä se porter acquöreur des biensr6alis6s.

Sauf exclusion formelle, lä meme disposition s'appliquelorsque le client ne röpond pas ä une demahde de Provisionou de comple'ment de Provision de lä part de la banque.

La banque est autoris6e ä compenser öu i faire valoir sesdroits sur les soldes de tous les comptes du client, ä toutmöment et quelles que soient leur 6cri6arice, leur dönomi-natioh et lä monnaie dans laquelle ils sont libelles.

16. Dispositions particulieres röservöes

Certaines opeVations sont regies par les presentes Conditionsgenerales, mais aussi par les Conditions speciales de la banquey relatives; le d6pöt de papiers-valeurs et autres objets, notam-ment, est regi par le Reglement de de'pöt.

Pour le reste, les operations boursieres, operations sur deviseset operations sur marchandises sont soumises aux usages res-pectifs des places concernees, les operations documentairesaux Regies et Usances uniformes de la Chambre de commerceinternationale, et les operations d'encaissement et d'escömpteaux Conditions generales etablies par l'Associatioh suisse desbanquiers.

17. Externalisation de certains secteürs d'activite'

Dans le cadre de l'externalisation de certains secteürs d'activi-te', notamment l'informatique (trafic des paiements, operationssur titres, New Core Banking), la banque se rgserve le droit derecourir ä des tiers pour certaines prestations de Services. Deslors que des informations concernant des Clients sont commu-niquges au prestataire de Services externe, ce dernier est lie"contractuellement par le secret bancaire.

18. Secret professionnel du banquier

Lorsqu'elle ex6cute des ordres de paiement ä l'etrangeret/ou en monnaie £trängere, la banque est lögalementtenue de communiquer ä la banque ötrahgere le nom etle prönom du client donneür d'ordre ainsi que diversesinformations le concernant (notamment sur son domicileet sur l'opöration effectuee). En donnant un tel ordre depaiement, le client autorlse la banque ä divulgu'er ces in-formations et la libere ä cet 6gard du secret bancaire.

Le client est informe* qu'en vertu du droit de divers pays,la banque est tenue, lorsqu'elle effectue des placementsdans ces pays, de communiquer aux autorltös compä-tentes toutes les Informations qui lui sont demandees,notamment le nom et le prönom du donneür d'ordre oudu döposant de titres ainsi que diverses Informationsle concernant (en particulier, des renseignements surl'ayant droit Iconomlque). En donnant un tel ordre deplacement, le client autorise expressäment la banque ädivulguer ces informations et la libere ä cet 6gärd du se-cret bancaire.

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19. Commissions

Pour ses prestations de Services, la banque präleve des corin-missions dont le montant est fixe par le tarif en vigueur et quele client declare accepter. La banque est autorisee ä retenir toutavantage eVentuel accordes par des tiers et n'est pas tenue dele repercuter sur le client.

Le client prend acte du fait et accepte que la Banque puisseeffectuer des versements ou autres prestations p6cuniaires (ci-apres iretrocessions») en faveur de societes du Groupe ou detiers ou en beneficier de leur part. Les rätrocessions se cal-culent en fonction du volume des montants investis dans lesInstruments de placement (p. ex. parts de fonds, actions de so-cietes d'investissement, produits structurgs, etc.) ou de celuides transactions effectuees pour la clientele (y.c. les operationsnettes incluant le paiement de tiers dans le prix d'achat ou devente net). Les rgtrocessions cumulees chaque annee peuventrepresentef une somme considerable. Le client accepte que lesretrocessions que la Banque devrait. sauf convention contraire,lui ceder en vertu de l'art. 400, al. l du Code suisse des obli-gations ou de dispositions analogues, soieht considerees parcelle-ci comme une remuneration s'ajoutant aux frais et com-missions qu'il verse ä titre de remuneration des prestations ban-caires fournies et qu'elles puissent etre retenues par eile sansObligation de restitution La Banque n'est pas obligee de divul-guer la nature et le montant des retrocessions et le client renon-ce expressement par la presente ä toute reddition de compteconcernant lesdits montants ou ä leur cession par la Banque,ä laquelle cette derniere pourrait en principe etre tenue. Touter&rocession, y compris les remunerations pergues par la Ban-que ä titre de prestations en faveur de tiers, notammeht desprestataires de produits de placement, est susceptible d'entrai-ner des conflits d'interets; la Banque s'est toutefois organisäede fäcon ä proteger en toutes circonstances les intörets de sesClients et ä ne pas les leser en cas d'encaissement par eile detels montants.

20. Duree et fin des relations d'affalres

Les contrats passes entre le client et la banque et concernant lecompte/depöt susmentionne - y compris les presentes Condi-tions generales - sont en general conclus pour une duree inde-terminee et ne prennent pas fin avec le deces, l'incapacitö civileou la faillite du client.

La banque se reserve le droit de suspendre avec effet immediatdes relations d'affaires existantes, y compris des credits promisou octroyes; d'eventuelles creances y relatives sont alors imme-diatement exigibles.

21. Protection des däpöts

En cas de faillite d'une banque domiciliee en Suisse, les valeursdeposees par les clients (p.ex. portefeuilles d'actions ou partsde fonds) ne tombent pas dans la masse en faillite et sont res-tituees aux Clients.

Les depöts qui ne sont pas etablis au nom de leur titulaire, ä l'ex-ception des Obligations de caisse deposees aupres de la banqueau nom du deposant. et qui correspondent ä une creance totaledu client sur la banque n'excedant pas CMF 5 000.-, sont pr6a-lablement servis en dehors de la procedure de collocation etsans cömpensation d'une eventuelle creance de la banque surle client, ä une compensation, ä condition que les liquidites dela banque soient süffisantes.

Les depöts qui ne sont pas etablis au nom de leur titulaire, ä l'ex-ception des obligations de caisse deposees aupres de la banqueau nom du deposant, sont assimiles jusqu'ä CHF 30 000.- ä descreances de second rang et constitüent a ce titre des creancesprivilegiges.

Les banques, dont la Banque Julius Baer & Cie SA, sont tenuesd'adherer aux principes de l'autorägulation des banques en vuede la protection des d&pöts. La protection des depöts a pour büt,en cas de faillite, de präserver les depöts privilegies des Clientsä concurrence de CHF 4 milliards et de gararitir le versement deces montants sous trois mois. La protection des depöts englobel'ensemble des creances privilegiäes sur des agences basees enSuisse, quel que soit le domicile de la contrepartie. Neanmoins, ledeposant ne peut se prevaloir de ce droit qu'une seule fois, memes'il detient plusieurs comptes aupres de la meme banque.

22. Modifications des Conditions g6n6rales

La banque se reserve le droit de modifier ä tout rrioment lesConditions gdnerales. Ces modifications sont communiquöesau client par tout moyen approprie et, sauf contestation dans undelai d'un mois, elles sont reputees acceptees.

23. Droit applicable et for

Toutes les relations juridiques du client avec lä banquesont soumises au droit suisse. Le Heu d'exäcution, le forde poursuite pour les clients domicilles ä l'etrahgef et lefor judlclalre de tous Iltlges est le domicile de lä banque äGeneve. La banque a toutefois le droit d'assigner le clientdevaht le tribunal competent de son domicile ou devanttout autre tribunal ou for de poursuite compötent.

Reglement de de"pöt

DIsposKlons g6n6rales

1. Valeurs en depöt

La banque se Charge en däpöt ouvert ou ferrhe de la conserva-tion, de la comptabilisation et de la gestion de pabiers-valeurs,droits-valeurs et autres valeurs mobilieres, ainsi que de metauxpräcieux et autres valeurs et objets appropries (ci-apres iles va-leurs en däpöti).

La banque est autorisee ä verifier ou faire v^rifier l'authenticitedes valeurs qui lui sont confiees ainsi que les avis de blocage lesconcernant, sans pourautant engagersa responsabilite.

Tant que les verifications requises n'ont pas ete faites, la ban-que n'est pas tenue d'effectuer aucun acte de gestion. Aucunordre de vente ou aucune Operation impliquant la remise de va-leurs ä un tiers contre paiement ne doit donc etre execute(e)avant la fin desdites verifications.

Les v^rifications sont effectuees sur la base des moyens et docu-ments dont dispose la banque. Aux (ins de verification, les valeursetrangeres en däpöt peuvent etre tränsmises ä l'office de depötdu pays concern£ ou ä un autre Service approprie" dans ce pays.

La banque peut, sans indication de motifs, refuser de prendredes valeurs en de'pöt.

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2. Obligation de diligence

La banque conserve les valeurs qui lui sont confiees en döpötavec le meme sein que ses propres valeurs.

3. Droits-valeurs

Les droits-valeurs non incorpores dans un titre et fonctionnantcomme des papiers-valeurs sont traites comme des papiers-va-leurs. Sont notamment applicables les regles relatives ä la com-mission (art. 425 ss. CO).

4. Livraisöns

Le Client peut ä tout moment exiger le transfert ou la livraisondes valeurs en depöt; la banque s'execute alors en respectantles formes et delais usuels. Demeurent reserves les dispositionslegales imperatives, les droits de gage et de retention de la ban-que, ainsi que tous autres accords eventuels (concernant p. ex.les delais de r£siliation).

La banque peut exiger ä tout moment du Client qu'il recupereles valeurs en depöt.

Lors de la livraison ou du transfert de valeurs conservöes endepöt collectif, il ne peut etre exige que lesdites valeurs corres-pondeht ä des numeros, coupures. annees ou autres criteresspecifiques.

5. Expedition de valeurs en depöt / assurance trahspört

L'expSditioh de valeurs en depöt se fait pour le compte et auxrisques du Client. Sauf decision contraire de ce dernier, la ban-que se Charge, ä sä discretion, de l'assurance et de la declara-tion de valeur.

6. Commissions de däpöt, remboursement des frais,impöts et taxes

La banque fäcture au client des commissions de depöt calcu-lees selon le tarif en vigueur. Elle peut modifier ce tarif ä toutmoment. sahs avoir ä en aviser personnellement le client. Lesmodifications tarifaires sont communiquees au client par toutrhoyen approprie.

La banque peut facturer separement ses frais (y cornpris lesfrais de livraison) ainsi que tous coüts exceptionnels et demar-ches inhabituelles.

Tous impöts et taxes lies aux valeurs en d£pöt du client sont äla Charge de celui-ci.

7. Modifications du Reglement de depöt

La banque se reserve le droit de modifier ä tout moment le Re-glement de depöt. Ces modifications sont communiquees auclient par tout moyen approprie et, sauf contestation dans undelai d'un mois, elles sont reputees acceptöes.

Dispositions sp6ciales applicables aux de'pöts ouverts

B. Forme de la conservation en depöt

La banque est autorisee ä faire conservef par des correspon-dants, Offices de döpöt, chambres de compensation ou autrescentrales de depöt collectif choisis par eile (ci-apres iles d£po-sitaires«), en Suisse ou ä l'etranger, les valeurs en dgpöt acqui-ses ou remises sur des places f inancieres suisses ou etrangeres.Cette conservation se fait conformement au droit et aux usagesen vigueur dans le pays concerrie', au nom de la banque, maispour le compte et aux risques du client. Par ailleurs et danstous les cas. les valeurs en d£pöt peuvent etre conservees lä oüelles se nägocient habituellement. La banque choisit les depo-sitaires avec tout le soin requis. comme s'il s'agissait de faireconserver par des tiers ses propres valeurs.

La banque est £galement aütoris£e ä conserver ou ä faireconserver les valeurs dans un depöt collectif, selon un classe-ment par genre et non par client. Lorsque des valeurs mobilieressont conservees en Suisse, le client a un droit de coproprieteproportionnel au nombre de titres qu'il detient. S'agissant demetaux precieux conserves en Suisse, il a egalement une partde copropriete proportionnelle ä la part qu'il detient dans ledepöt collectif. Si la restitution de valeurs en depöt conser-vees collectivement est rendue impossible ou difficile pour desraisons legales ou pour toute aütre raison. la banque a pourseule Obligation d'assurer au client envers le depositaire, au lieuoü sont deposees les valeurs, un droit de restitution proportion-nel ä sä part.

9. De'pöts me'taux collectifs / cömptes m6taux

La banque detient, pour les titulaires de depöts metaux, desquantites d'or, d'argent, de platine ou de palladium au moinsegales ä celles deposees par lesdits titulaires. Ces metaux doi-vent titrer le poids minimum de metal fin usuel dans la profes-sion bancaire. Les pieces courantes sans specificites humisma-tiques ä la date de mise en d§pöt sont conservees par genredans des depöts collectifs distincts.

S'agissant des cömptes mgtaux. les titulaires ont envers la ban-que un droit de livraison portant sur une quahtite de metal pre-cieux egale ä celle enregistree en compte (or, argent, platineou palladium). S'agissant des cömptes pieces, les titulaires ohtenvers la banque un droit de livraison portant sur un nombre depieces egal ä celui enregistre' en compte.

La banque livre aux titulaires de comptes/depöts metaux despieces de qualitö conforme au marche'. Les titulaires ne peu-vent exiger la livraison de pieces d'une annee ou d'une frappedonnee.

Pour les inscriptions en compte, debits et livraisons, la ban-que peut exiger un poids minimum ou un nombre minimumde pieces.

Les titulaires de comptes/depöts metaux sont en droit de sefaire remettre ä tout moment, dans les locaux de la succursalede la banque gerant le compte/depöt, une quantite de metalprecieux correspondant ä leur part de copropriete' (pour lesdepöts metaux collectifs) ou ä leur avoir en compte {pour lescömptes me'taux), et ce conformement aux dispositions legalesen vigueur. Afin de pouvoir repondre aux demandes, la banquedoit etre avise"e des retraits au moins deux jours ouvrables ban-caires ä l'avance.

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Sur demande, la banque accepte de livrer les metaux precieuxen un autre lieu, ä condition que ce soit possible en pratiqueet conforme aux lois en vigueur en ce lieu. Les livraisons end'autres lieux que le lieu d'execution interviennent toutefois auxfrais et risques exclusifs du client.

Les livraisons de m&aux precieux (pr§lev6s sur le depöt metauxcollectif) se fönt en fonction du nombre d'unites comptabilise'es.Si la comptabilisation est effectuee en poids de metal fin (depötm£taux collectif / compte metaux), la banque est en droit delivfer des barres de la taille de son choix, pourvu qu'elles titrentle poids de metal fin usuel dans la profession bancaire. et defacturer au client les Supplements pour fabrication en vigueurä la date d'ötablissement du decompte. La banque compenseles differences de poids residuelles, ä son choix, en completantpar des umtos plus petites ou en versant une somme d'argent.Celle-ci est calculee au cours du marche suisse des metauxprecieux (ou, ä defaut, au prix libre du marche international desmetaux precieux) ä la date d'etablissement du däcomple.

En cas de restrictions de transferts, fäits de guerre, force ma-jeure ou autres ev^nements similaires, la banque se reserve ledroit de livrer le metal precieux au lieu et dans les conditionsoü cela est possible et lui semble appropriö. De telles livraisonss'effectuent aux frais et risques du client.

S'agissa'nt des depöts metaux collectifs, tous impöts, taxes, etc.,actüels et futurs, sont ä la Charge du client (notamment la TVA).

Les avoirs en compte mätaux ne rapportent pas d'interets.

En cas de livraison de metal precieux sur le territoire douaniersuisse, il appartient au client de s'acquitter des impöts et taxesy affe>ents (actuellement, la TVA). Tous autres impöts, taxes,etc., actuels et futurs, sont ggalement ä la Charge du client.

Pour la gestion des depöts metaux collectifs et des comptes me-taux, la banque facture une commission fixee dans un tarif speci-fique. Elle se reserve le droit de la modifier ä tout moment.

10. Impression diffeVee des titres

Si la materialisation des valeurs en depöt est differee, la banqueest en droitde demander l'annulation de titres existants;- aussi longtemps qu'elle est en Charge de la gestion. d'effec-

tuer les actes de gestion usuels, de donner ä l'emetteur lesinstructions requises et de collecter aupres de lui les infor-mations nöcessaires;

- d'exiger ä tout moment de l'e'metteur l'impression et la li-vraison de papiers-valeurs.

11. Caractere purement technique de la gestion desvaleurs eh de"pöt par la banque

Dans le cadre d'un depöt, la banque se Charge d'une gestionpurement technique. Si le client souhaite lui confier la gestioneconomique de son däpöt, il doit lui confier ä cet effet un man-dat de gestion de fortune. Sauf mandat specifique du client, labanque ne se Charge donc que des täches de gestion courantes,purement techniques. telles que- l'encaissement ou la realisation au mieux des interets, divi-

dendes, capitaux et autres distributions arrivaht ä echeance:- l'echange de titres et le renouvellement des feuilles de cou-

pons;- la cession de droits de souscription et options non exerces;

- le contröle des papiers-valeurs tir6s au sort, annules et per-. dus, au vu des documents dont eile dispose. Lörsque des

valeurs en d£pöt collectif fönt l'objet d'un tirage au sort, labanque röpartit les titres tir£s au sort entre les copropriötai-res selon une methode garantissant ä chacun, en fonctionde sä participation, des chances egales.

Pour tous ses actes de gestion ä caractere purement techni-que, la banque s'appuie sur les informations accessibles parles moyens usuels dans sä profession, sans toutefois assumeraucune responsabilite' ä cet ägard. La banque n'est pas tenue deconsulter les moyens d'information g6n6raux. par exemple l'ln-ternet, pour obtenir des informations susceptibles de concernerles valeurs en d£pöt du client.

12. Gestion des valeurs en döpdt par le client

Sauf convention contraire, toütes les täches de gestion qui nesont pas purement techniques incombent au client, ainsi quetout ce qui concerne le placerhent des valeurs en depöt. II luiappartient notamment de prendre toütes mesures utiles pourpreserver les droits attäches aux valeurs en depöt, par exempledonner des instructions quant ä l'exercice ou ä la cession dedroits de souscription, de conversion ou d'option, proceder ädes versements complementaires pour les actions noh integra-lement libeVees, les conversions, etc.

A defaut d'instructions du client, la banque est en droit d'agirselon sä libre appreciation. La banque ne fait valoir des droitsä restitution et n'impute des impöts ä la source que sur la based'instructions expresses du client.

13. Relev6 de ddpöt

La banque remet regulierement au client, pour veVification, unrelevg de ses valeurs döposees en depöt ouvert. Ce relev£ estreputä validä et approuve par le client des lors qu'aucune conte-station ecrite ne parvient a la banque dans un deläi de quatresemaines ä compter de la date d'envoi.

14. Responsabllit^ de la banque

La banque est responsable des dommages qu'elle cause et döntle client apporte la preuve. La banque n'est responsable des er-reurs commises par un depositaire ä moins quelle n'ait choisi ledepositaire sans avoir apporte le soin requis ou qu'elle ne l'aitmal instruit.

Oispositions spöciales applicables aux depöts fernes

15. Remise en döpöt

Les objets remis en depöt ferme doivent porter, sur leur embal-lage, la designation exacte du contenu du depöt. L'emballagedoit etre ferme de teile maniere qu'uhe eventuelle Ouvertürepuisse etre aisgment constatee. La banque peut exiger du clientune d£clarätion de valeur.

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16. Responsabilite'du client

Les d£pöts fermes ne peuvent contenir que des objets de valeuret des documents, mais en aucun cas des objets inflammables,dangereux ou impropres & etre conserves dans les locaux d'unebanque. Le client repond de tout dommage resultant des objetsdeposes.

La banque est en droit d'exiger du client qu'il prouve la naturedes objets d^posäs. Pour des raisons de securite, eile est 6ga-lement en droit d'ouvrir ou de faire ouvrir, en presence d'un te-moin, un döpöt ferme'.

17. Responsabilite' de la banque

La banque est responsable des dommages qu'elle cause et dontle client apporte la preuve. Sa responsabilite' est toutefois limi-t£e ä la valeur de'montre'e et ne saurait exce'der la valeur decla-ree. La banque d£cline toute responsabilite en cas de domma-ges resultant de phgnomenes atmospheriques.

La banque n'est responsable de l'intögrite du contenu d'un de-pöt fermä que dans la mesure oü le client peut prouver, sur labase de l'etat de 1'emballage, que celui-ci a ete ouvert et qu'il asubi un dommage.

Lors de la restitution du dgpöt, le client doit constater si l'em-ballage a et£ ouvert ou non. La quittance de restitution libere labanque de toute responsabilite.

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MPC1 20151015 004 0046 F

fhird-Pärty Management Authorization

Julius Bär

Title of accouril / custody account

Attorney (last and firsl name or Company)

9

Account / custody account no.

For Individuais:Nationality Date of birth Relationship to Client

For legal entities:Domicile

Address (optional)

Country

1. Scope ofthe Authorization

The Client hereby authorizes the Attorney specified above tomanage in his stead the assets in the above-referenced accountin the cäpacity of asset manager acting independently of theBank.

The Attorney is authorized to effect all banking Investmentsworldwide (in established markets äs v/ell äs in emerging mar-kets) and to seil or replace existing Investments. The Attorneymay also decide äs to the exercise of subsidiary rights, such ässubscription rights. conversion rights. Option rights, exchangerights, takeover bids, etc. This managernerit authorization cov-ers in particular, but not exclusively, the following Investments:- Purchase and sale of Stocks and other equity rights (includ-

ing shares of limited partnerships):- Purchase and sale of bonds (including bonds resulting from

convertible issues and debehtures with options or vvärrantsattached, and of other fixed-incbme securities such äsnotes. etc.;

- Purchase and sale of precious metals arid foreign currencies;- Placing time deposits with Swiss banks. including Bank

Julius Baer & Co. Ltd. (subject lo Swiss withholding tax);- Placement of short-term time deposits with non-Swiss

banks or other debtors with the guarantee of a non-Swissbank (tirne deposits on the international money markets,certificates of deposit, bankers1 acceptances, etc.);

- Placement of short-term Investments with other non-Swissdebtors without a bank guarantee (commercial paper, billsof exchange, treasury bills, etc.);

- Purchase and sale cf units in Swiss and foreign Investmentfunds, including those of the Julius Baer Group;Purchase and sale of units issued by similar companies andentities, especially so-called non-traditional funds (e.g. hedge(unds) and of equity interesls in Investment companies;

- Effecting forward transactions (off-exchange and non-standardized) and futures (exchange-traded and stand-ardized) on Stocks, bonds. precious metals, commodities.etc. or on reference rates like currencies, interest rates,indices, etc.;

- Effecting Option transactions in securitized form (wäfrants)traded on- and off-exchange, unsecuritized options (stand-'ardized and exchange-traded, so-called Traded Options orOver-the-Counter (OTC) Options with individual coritracispecifications and always traded off-exchange) ön Stocks,bonds, precious metals, cornmodities etc. or on referenco.ratesfsuch äs currencies. interest rates, indices. etc.;

- Effecting further rransactions in derivative Instruments suchas combinations of Option and forv/ard transac'.ions. swap'transactions of all types, so-called certificates on o'rie or 'more underlying security or asset, stfuctured products and'*other derivative Instruments of all types.

The Attorney is in particular empowered to acqüire. seil or writeall these Investments in any combinatiori thereof and to execuieon behalf of the Client any national or international masteragreements for OTC derivative financial Instruments (hat mäybe required for such purpose. as well as any confirmationspertaining to transactions effected under such agreements. TheClient expressly agrees that the Attorney may also engage inshort selling for this purpose and äcknowledges that the cöm-mitments resulting from such transactions may substahtiallyexceed the margin requirements and/or the total value of hisassets with the Bank.

2. Useof Credlt LJnes

For the above-specified ihvestmehts. the Attorriey is authorizedto use, in addition to existing credit balances on the above-rhen-tioned account. credit lines that have been made available tothe account holder at his own request or at the special req'uestof an Attorney so empowered. The obligations of the accountholder resulting from such credit relätionships exist indepen-dently of the i'epayment of Investments.

BANK JULIUS BAER X CO. LTD. iam_usrl_F, 1/3

MPC1 20151015 004 0047 F

Julius Bär

3. Flduclary Investments

Time deposits with other banks or with other companies areeffected by the Bank in a flduclary capaclty in the Bank'sown name, but for the account and at the rlsk of theClient, and can also be in the form of sub-interests in securitiesand rights held by the Bank in a (iduciary capacity.

In the case of such fiduciary Investments, the Bank, äs a manda-tory acting at its own discretion, shall be obligated only tö creditthe above-mentioned account with such amounts äs have beehplaced at the Bank's free disposal at its domicile in Zürich by thedebtors in the form of repayment of principal and of interest. If adebtor does not fulfil his commitments, or if he fulfils them onlypartially, or if he cannot meet his Obligations because of trans-fef restrictions or foreign excharige controls either in his owncountry ör in that of the Investment currency, the Bank shall beobligated only to assign to the account holder the Claim held onhis behalf. The Bank is under no Obligation to perfonn any otheiServices. The currency of the Investment need not match that ofthe debtor's country. The Bank is entitled to Charge a fee for theliduciary transactions in accordance with its current Scheduleof Fees.

4. (.Imitation of the Authorlzatlon

The Attörney is not authorized to transfer or cause to be paidor delivered to himself or other parties any money. securities,precious metals or other assets held in the above-referencedaccount, except the delivery of securities against payment tobanks/brokers and vice versa. Pledging shall be admissible onlywith regard to the liabilities of the Client created by the Clienthimself, by another authorized person or by the Attörney in theexercise of this Management Authorization.

5. Electronic Transmission of Client Data

The Bank may transmit client data to the Attörney by electronicmeans, using the Bank's own or third-party networks (includingthe Internet), instead of the customary mailing or in additionthereto. The Bank is also authorized to grant the Attörney elec-tronic access through such networks to the client data storedin the Bank's own Computer System and to allow the Attörney toplace Orders by electronic means. For this purpose the Attörneymay sigh on behalf of the Client any agreements or undertak-ings (e.g. application for eBaer) that may be required for suchpurpose.

6. Fees Päid by the Bank to the Attörney

The Client agrees that the Attörney, under a coöperatlonagreement, should recelve from the Bank fees based onthe volume of assets under mahagement and/or transac-tlon-related fees on any client transactions (Includingnet transactions) that the Attörney routes through. Suchpayments shall be based on prevailing market rates, TheClient acknowledges that in the case of net transactions suchpayments represent a Proportion of the rate applied by the Bankand are therefore included in the transaction price. For fuflherInformation on this point, the Client should exclusively contactthe Attörney.

7. The Bank Assumes no Liability for the Attörney

All acls performed by the Attörney under this ManagementAuthorization shall be fully binding upon the Client. This manage-ment aulhority is conferred on the Attörney personally, and theClient hereby releases the Bank fully and in advancc from anyresponsibility and liability for any of the Attorney's äcts and/oromissions. In particular, the Bank is under no Obligation toexamine the instructions of the Attörney with respect to theirappropriateness, frequency or extent. No liability shall accrue tothe Bank in respect of any Investment decisions rnade by the At-törney and the Client hereby expressly releases the Bank fromany Obligation to provide any advice. Information or warningwhatsoever in relation to the acts or omissions of the Attörney.

8. Välidityof the Authorlzatlon

This Authorization shall be governed by Swiss law. It shall notexpire upon the death of the Client or one of the Clients orby his being legally declared rhisslng and presumed deador in the event of his Incapacity to act or bänkruptcy. TheAuthorization shall remain valid towards the Bank until receiptby the Bank of a written revocätion. In case of the Client's de-mise, the power of attorney can be revoked by a legitimate heirat any time.

9. NoticeofRisk

transactions in derivative Instruments may ihvolve a sub-stantial risk of loss. It is therefore important that Clientsshould be sufficlently familiär with them and have suffi-clent flnanclal means available before making commit-ments In these markets.

The brochure "Special Risks in Securities Trading" of the SwissBankers Association contains Information on transactionswhose (isk potential or risk structufe exceeds the usual risksassociated with buying, selling and holding securities. The Clientand Attorney confirm having received a copy of this brochure.

Place, date

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Julius Bär

Authorlzatlon to Pledge and Borrow

The Attorney is empowered to pledge or assign the assetsconlained in the specified account with the Bank in order tosecure liabilities of the Client and to sign agreements concern-ing credit facilities which are subject to the collateralized valuecustomarily applied in banking.

Fee Authorizatlon

The Attorney is entitled to Charge his fees for managing theassets directly to the above-mentioried account. The Bank shallexecute appropriately designated credit transfers without veri-fying the basis for the calculation of the fees claimed (especiallyperformance-related calculation) and whether the fees claimedare justified or appropriate to the circumstances.

Place. date

SignatiVfs) of account hofoyens)

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ANNULE

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Julius Bär

Pouvöir de gestion

Denomination du compte/de'pöt


Fond6 de pouvoir (nom et prenom ou societe)

SODIPRIVESS.A.

Numero de compte/de'pöt

0303.6395

(ci-apres ile mandatairei)

Personne physlque:National^ Date de naissance Relation avec le client

Personne juridlque:Siege

Geneve .Adresse (facultative)

Etat de domicile

Suisse

1. Etendue du pouvoir

Par la presente. le client autorise le mandataire susrhentionh6ä gerer ä sä place les valeurs patrimoniales du compte/depötmentionne ci-dessus en tant que gerant de fortune independantde la banque.

Le mandataire est, en particulier, autorise ä effectuer dans lemonde entier toutes les operations bancaires usuelles (aussibien sur les marches etablis que sur les marches emergerits)ainsi qu'a liquider ou ä remplacer les placements existants.Dans ce cadre, il peut egalement decider de l'exercice desdröits anhexes comme les droits de souscription, les droits deconversion, les droits d'optioh, les droits d'echange et les offresd'acquisition, etc. Ce pouvoir comprend en particulier, mais pasexclusivement, les investissemerits suivants:- actions et autres dröits de participation (y compris partici-

pations dans des iLimited Partnerships»);- obligations {y compris emprunts convertibles et ä Option)

ainsi que les titres ä revenu fixe comme par exemple les«Notesi, etc.;

- m§taux precieux et devises;- depöts ä terme aupres de banques suisses, y compris la

Banque Julius Baer & Cie SA (soumis ä l'impöt anticipe);- placements ä court terme aupres de banques etrangeres ou

aupres d'autres debiteurs avec la garantie d'une banque gtran-gere (depöts ä terme sur les marches mon^taires intematio-naux. iCertificate of Depositsi. iBanker's Acceptancei. etc.);

- placements ä court terme aupres d'autres debiteurs etran-gers sahs garantie bancaire (iCommercial Papen, effets dechange, iTreasury Billsi. etc.);

- parts de fonds de placement domestiques et gtrangers, ycompris ceux du groupe Julius Baer;

- parts de societes et de structures assimilables aux fonds,en particulier les iNon-Traditional Fundsi (par exemple lesiHedge Fundsi) ainsi que participations dans des societesd'investissement;

- operations ä terme comme les «Forwardsi (operations äterme hors Bourse, non standardise'es) et les iFuturesi(operations ä terme traitees en Bourse, standardisees) sur

des valeurs patrimoniales comme actions. obligations, mk-taux precieux, matieres premieres, etc., ou des valeurs dereference comme devises, taux, indices, etc.;

- operations sur options comme les options materialisees dansun titre (iWarrantsi ou certificäts d'option) traitees en Bourseou hors Bourse. les options non materialisees dans un titre(«Traded Optionsi) standardisees et traitges en Bourse ou op-tions lOver-the-Counteri (options OTC) avec specificationscontractuelles individuelles, toujours traitees hors Bourse,sur des valeurs patrimoniales comme actions, obligations,metaux precieux, matieres premieres, etc., ou des valeurs derefeVence comme devises, taux, indices. etc.;

- autres ihstruments finahciers derives comme lä combinai-soh d'options et d'operations ä terme, tous gehres d'opera-tions de iSwapsi, les certificäts sur une ou plusieurs valeursde base ainsi que les produits structures et les autres Instru-ments financiers derives en tous genres.

Le mandataire est autorise ä acheter, ä vendre ou ä souscrireces investissements, selon les cömbinaisons qu'il desire, e't äsigner au nom du client les contrats cadres nationaux ou in-ternationaux eventuellement requis dans ce contexte pour lesInstruments financiers derives du marche OTC, ainsi que lesconfirmations correspondantes relatives aux operations ainsiconclues. Le client reconnait expressement que le mandatairepeut, ä cet effet, effectuer des ventes ä decouvert et que lesengagements qui peuvent en däcouler peuveht döpässer eritie-rement les couvertures necessaires (marges) et/ou la valeurtotale de sä fortune aupres de la banque.

2. Utlllsatloh des limltes de crädit

Le mandataire est autorisö ä utiliser, outre les avoirs deposesen compte, ägalement les limites de credit amenage'es pour leclient sur le compte mentionnS ci-dessus, soit sur son ordreou sur l'ordre special d'un fondä de procuration disposantdes pleins pouvoirs. Les obligations du client de"coulant de cerapport de credit existent independamment du remboursementdes placements.

BANQUE JULIUS BAER & CIE SA 1/3

MPC1 20151015 004 0050 F'W if -tftftf^it

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3. Placements fldüclaires

Les depöts ä terme aupres d'autres banques ou soci£tes sontexecules par la banque a tltre flduclalre en son propre nom,mals pour le compte et aux risques du client le cas echeantägälement sous la forme de sous-participations ä des titres et ädes droits detenus ä titre fiduciaire par la banque elle-meme.

Pour ce genre de placement fiduciaire ögalemeht, la banque,en tant que mandataire agissant selon sä libre appr£ciation, n'ad'autres obligations que de cröditer sur le compte mentionn6ci-dessus, les montants qui ont 6t6 mis a sä libre dispositionaupres de son domicile ä Zürich, en remboursement du capitalet des interets de la part des debiteurs. Si un debiteur ne remplitpas ses obligations, ou qu'il les remplit seulement partiellement,ou qu'il ne peut s'en acquitter pour des raisons de reglementa-tion en matiere de transfert et de change appliquee dans sonpays ou dans celui de la monnaie de placement, la banque estsimplement tenue de ceder au client la creance detenue a titrefiduciaire. La banque n'est astreinte ä aucune autre prestation.La monnaie de placement ne doit pas necessairement etre celledu pays du debiteur. La banque est autoris^e ä debiler unecommission fiduciaire pour les placements fiduciaires confor-mement ä son tarif en vigueur.

4. Restriction

Le mandataire n'est pas autorise ä payer, ä transferer ou ä virerä lui-meme ou ä des tiers, des titres et des valeurs patrimo-niales, ä l'exception des livraisons de titres contre paierhentä des banques/brokers et inversement. Un nantissement nepeut etre effectue qu'en relation avec des obligations du client,contractees soit par le titulaire du compte lui-meme, soit par unautre fonde de pouvoirs, ou par le mandataire dans le cadre del'exercice de ce pouvoir de gestion.

5. Transmission 6lectron!quedes donn6es relatives au client

La banque peut commüniquer au mandataire des donnees re-latives au client, en Heu et place ou en plus de la voie postaleusuelle, par voie electronique au travers du reseau propre ä labanque et/ou au travers de reseaux ätrangers (y compris Inter-net). La banque est aussi autoris£e ä accorder au mandataire,au travers de tels reseaux, un acces electronique aux donneesdu client memorisees dans le Systeme de traitement des don-nees propre ä la banque, ainsi qu'un Systeme electronique depassation des ordres. A cet effet, le mandataire peut signer leseventuels contrats et dgclarations requis (p. ex. demande d'ac-ces ä eBaer) au nom du client.

6. Remuneration du mandataire par la banque

Le Client est d'accord que le mandataire rec.oive de läbanque, dans le cadre d'urie conventlon de collaboration,une rämuneratlon dont le montant dlpendra du volumedes avolrs ge>6s et/ou des transäctlon* effectuöes pourle cllent, selon les taux usuels pratiqüäs sur le marchö, ycomprls les opfrations nettes. Le Client prend acte que pourles operations nettes cette remune>ation reprgsente une partiedu cours appliqug par la banque et est donc contenue dans leprix de la transaction. Pour d'autres informations concernant cesujet, le client s'adressera exclusivemeht au mandataire.

7. Absence de responsabilite' de lä banquepour les actes du mandataire

Toutes les dispositions prise's par le mandataire dans les limitesdu präsent pouvoir engagent le client sans restriction aücune.Le pouvoir est contere personnellement au mandataire et leclient declare d'ores et dejä dächarger la banque de touteresponsabilite pour n'importe quelles actions et/ou omissionsdu mandataire. La banque n'a, en particulier, aucune Obligationd'exercer un contröle concernant l'utilite, l'etendue et la fr£-quence des ordres du mandataire. La banque n'assume aucuneresponsabilite pour ce qui est des decisions du mandataireen matiere de placement et est expressement degag£e par leclient de toute Obligation de conseil. d'information ou de rniseen garde relative aux actions du mandataire dans le cadre de lagestion, ou de leur omission.

8. Validltö

Ce pouvoir est soumis au droit suisse. II ne s'itelnt pas süiteau dlces, ä l'överituelle däclaratlon d'absence, a la pertede l'exerclce des drolts civlls oü h la fallllte du client, res-pectlvement d'un des cllents. La banque donnera effet aupouvoir aussi longtemps qu'elle n'aura pas äte avisee par ecritde sä revocation. En cas de deces du client, la procurätion peutetre reVoquSe par un heritier legitime en tout temps.

9. Rlsque

Le risque de sublr des pertes avec les Instruments d6-rlvis est consldärable. C'est pourquoi, seüls les cllentsdlspos'ant das connalssances näcessaires et b6n6ficiantd'une Situation flnanclere seine peuve'ht s'engager siirces marchös.

En ce qui concerne les risques des operations dont le po'tentielde risque ou dont la structure fait courir plus de risques que lesoperations traditionnelles d'achat, de vehte ou de conservationde valeurs, il existe une brochure d'information intitul£e iRis-ques particuliers dans le commerce de titresi de r Assöciationsuisse des banques. Le client et le mandataire confirment avoirrecu un exemplaire de cette brochure.

lVES S.A.

MPC1 20151015 004 0051 F

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Autorisatlon de nantlr et de contracter des crödlts

Le mandataire est autorise' ä nantir ou ä cöder les valeurs patri-moniales deposees sur le compte/depöt susrhentionne(s) pourles engagements du client et ä sigher des contrats de cröditpöur avoir recours ä des facilites de crödit dans le cadre desvaleurs d'avance ordinaires en mallere bancaire.

Lieu, date

Signature(s) du (des) titulaire(s) du compte

Autorisatlon de prelever des honoralres

Le mandataire est autorise ä prelever ses honöraires pour lagestion des valeurs patrimoniales directement du compte duclient mentionne ci-dessus. La banque exöcute les ordres devirement libelles en consequence, säns examiner la base decalcul des honöraires (notamment pour ceux calcules en fonc-tioh de la performänce) et/ou le bien-fonde' des pr^levementsd'hohoraires.

Lieu, date

6eneie_ le. "?,(yf .£>?Signature(s) du (des) titulaire(s) du compte

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Julius Bär

Convention ppur la transmission Electronique d'ordres ä la banque

Denomination du compte/depöt Nume'ro de compte/depöt

CHELFORD PROMOTIONS S.A. 0303.6395

La transmission electronique d'informations se caracteVise par sä sinriplicite' et sä grande souplesse, mais eile präsente aussi cer-tains inconvenlents. En cours de transmission, les informations verbales ou Äcrites sont potentiellement accessibles ä des tierset peuvent etre modifie'es. La transmission eiectronique d'ordres Berits ou de donnäes sensibles präsente des risques particulie-rement Importants, car leur authenticite' et leur contenu ne peuvent Stre ve'rifie's qu'au vu du message recu. Le präsent formulairea pour objet de g£rer ces risques.

Le dient a l'intention de transmettre ä la banque. personnellement ou par l'intermediaire de mandataires. des ordres de paiement.d'achat, de vente ou autres, et ce non seulement par 6crit mais aussi par te^phone, par telöcppie ou par courrier electronique (Inter-net). Ces transmissions d'ordres (ci-apres ales ordres transmis electroniquementi) sont soumises aux dispositions ci-dessous.

1. Exlcutipn d'ordres transmis electr.oniquement

Par la präsente, le client donne expressement ordre et autori-satipn ä la banque d'executer les ordres transmis eieclronique-ment, y cpmpris.lorsque le droit de disposition du donneur d'or-dre ne peut pas §tre värifi^ avec certitude.

En cas de doute quant au droit de disposition du donneur d'ordre,la banque se r^serve le droit de ne pas executer un ordre trans-mis electroniquement. Avant toute exöcution d'ordre transmiselectroniquement, la banque est en droit de se faire confirmerl'ordre psre'crit; eile n'y est toutefois pas tenue.

2. Ve>iflcation des slgnatures 4lectronlquea

A re'ception d'un ordre signe^lectronlquement. la banque vörifiela legitimation en comparant la/les signature(s) älectronique(s)appos£e(s) sur l'ordre avec les spöcimens deposes chez eile.Elle n'est tenue d'aucune autre verification.

Si la/les signature(s) 6lectronique(s) apposee(s) sur l'ordre nediffere(nt) pas manifestement desdits sp^cimens. la banqueconsidere l'ordre signe ölectroniquement comme un ordre äSignatare manuscrite.

3. Obligation de diligence de la banque

Quelle que soit la forme de transmission choisle par le Clientou ses mandataires, la banque s'engage ä verifier la l^gitima-tion avec toute la diligence requise. Hormis cette Obligation dediligence, la banque n'assume aucune responsabilite pour lesordres transmis electroniquemenL

Lieu, date

-\l_-^*ä •* »»• Jm^Tj./ lA .az.

Le conseiller äla cfientele

BANQUE JULIUS BAER & CIE SA

4. Risques \\6a ä la transmission ejectrpnique d'ordres

Le client est informö des risques considerables lifes ä l'utilisationde moyens de communicatlon electroniques. En particulier. il estimpossible d'e'carter tout acces de tiers aux informations trans-mises electroniquement. Le client est informö du risque accrude falsification lie ä l'utilisation de signatures (tele)copiees ouElectroniques. En cas de transmission par courrier electronique.il existe un risque que des ordres ou des Communications soientenvoye's par des tiers utilisant une fausse adresse. et donc quela banque soit induite en erreur quant ä l'emetteurde l'informa-tion. L'utilisation de moyens de communication electroniquescomporte aussi le risque que les transmissions soient incomple-tes, falsifiees ou retard^es. Le client Supporte seul les risquesli£s ä l'utilisation de moyens de communication electroniques.

5. Responsabilite'

Tous les risques life ä des ordres transmis electroniquement, etresultant notamment de defauts de legitimation non deceles, sontä la Charge du client. La banque ne saurait garantir le caracterecomplet et exact des informations qu'elle transmet ölectronique-ment. Elle däcline toute responsabilite pour les dommages causesau client ou ä ses mandataires ä la suite d'erreurs de transmission,de defaillances techniques, de perturbations, d'interruptions, d'in-terventions illicites par des tiers non autorisäs, ou de toule autremaniere en relation avec la communication electronique.

6. Conditlons g6n6ra\es

Sauf dispositions contraires de la presente conventipn, les Cpndi-tions g^nerales de la banque s'appliquent.

Signature(s) du (des) tltulaire(s) du compte

MPC1 20151015 004 0053 F

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JulSus BärPOttit

UlC-J

General Pledge and Assignment Agreement

(Pledgor and Debtor are different)

Last name(s), first name(s) / Company name

••\vi iv/w^ i «*- "\ IVVM . UXP- I v(hereinafter "Pledgor'') hereby grants/grant in favour of

BANK JULIUS BAER& CO. LTD.including its Swiss and foreign branches

(hereinafter "Bank") a lien in the form of a pledge and/or assignment for security purposes, äs applicable, (hereinafter "Pledge" or"Assignment", or in case the lien under this Agreement is referred to äs a whole, "Pledge and Assignment") äs security for all presentand future Claims which the Bank currently has or may acquire in the future against

Last name(s), first name(s) / Company name "

Address

oc ,' /

(hereinafter "Debtor") or his lega.l fcuccessors without limitation

or in the amount of (optional)

Currency • Amount

The following sh.al.l be deemed secured Claims of the Bank (here-inafter "Secure.d Claims") under this Agreement: Claims thathave arisen or may arise in the future from business dealingswith the Bank (including, without (Imitation, account dealings,bills of exchange and commodity transactions, stock exchangedealings, transactions with derivative financial Instruments, for-eign exchange and over-the-counter transactions, custodial op-erations, asset managernent, fiduciary transactions, fixed termloans, overdrafts on current accounts, contingent liab.ilities.including, without limitation, guarantees or standby letters ofcredit, etc.), or that have arisen or may arise in the future fromother legal causes even if a legal source has not yet been enact-ed or come into force (e.g. possible tax Claims, etc.).

The Pledge and Assignment shall cover in particulai, but notexclusively, the amount in principal of the Secured Claims, in-terest due and falling due thereon, commission, brokerage and

any expenses incurred such äs storage and restorage costs,transport costs, customs duties, insurance premiums, valuationcosts, rentals. etc., costs incurred in enforcing the Pledge and/or Assignment, äs applicable, äs v/ell äs costs and indemniliesincurred from litigation and execution proceedings. This Agree-ment shall remain in effect even if the Secured Claims havebeen satisfied in füll or in part.

The Pledge and/or Assignment, äs applicable, is granted in re-spect of all present and future assets, Claims and rights of thePledgor which are or will be held, in whole or in garts, for theaccount of the Pledgor by the Bank or in the Bank's name bythird parties, or be accessible to or located on the premises ofthe Bank or be directly or indlrectly, in possession of the Bankor over which the Bank has or will have the power of disposalfor any legal reason (hereinafter "Collateral") including, withoutlimitation. the following:

o.O For infernal use of the Bank only and

without any limitation of Pledge and AssignmentFiled under ZR no. (Pledgor).

Filed under ZR no. (Debtor) _ 66

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1. All certificated securities, Including all securities that thePledgor might own in the issuer from time to time arisingfrom any conversion of, exchange for or replacement ofpresent securities or granting of additional securities andall other physical assets (such äs precious metals, instru-tnents conveying title to movable property, mortgagedeeds. etc.).

2. All securities in uncertificated form (including book-entryand security entitlements) (i.e. other than those pledgedand/or assigned. äs applicable. under section l above),including all securities that the Pledgor might own in theissuer from time to time arising from any conversion of,exchange for or replacement of present securities orgranting of additional securities, all monetary rights ap-pertaining to the securities under section 1 and 2 (includ-ing, without limitatipn, subscription and pre-emptiverights. Option rights, interest, dividends, Claims arisingfrom securities lending, rights for release äs well äs co-ownership rights with respect to omnibus accounts with athird party, rights upon liquidation of the issuer or uponany distribution resulting from a reduction of cap.ital of theissuer, except äs otherwise provided therein) äs well äs allClaims (such äs time deposits/fiduciary deposits, Claimsarising from life insurance policies, etc.).

All securities which are not in bearer form are hereby as-signed in accordance with article 901 paragraph 2 of theSwiss Civil Code.

For the avoidance of doubt, the voting rights of the securi-ties that are subject to this Agreement always remain withthe Pledgor.

3. All goods. whether these goods be in warehouses, withshippers, in transit or otherwise in custody or in the courseof being processed at any other place, etc.; the foregoingshall be applicable also in the case where the Bank ac-quires possession by means of any instrument conveyingtitle to the goods, such äs bills of lading, consignmentnotes, warehouse receipts, etc.

Insofar äs these goods are in transit at the time the Pledgeand/or Assignment, äs applicable, is given, the Pledgorherewith pledges and/or assigns, äs applicable, to theBank all Claims to documents, issued or to be issued andrelating to such goods, such äs bills of lading, consign-ment notes, i.nsurance policies, warehouse receipts, etc.,together with all present or future Claims against shippers,insurance companies, etc., which relate directly or indi-rectly to these shipments. The Bank shall be empoweredto determine where the gop.ds are to be ware.housed. Stor-age and transpprt shall be undertaken at the sole expenseand risk of the Pledgor, who shall also be resppnsible forproper care of the goods.

4. All present and future Claims of the Pledgor arising fromthe accounts or other relationships with the Bank, due oryet to become due, äs well äs all present credit balancesand those that may subsequently come into existence inSwiss francs äs well äs foreign currencies or their equiva-lent expressed in Swiss francs and all other rights of what-soever kind.

To the extent the Assignment upon which the Bank holds theCollateral is not recognised under the applicable laws or theBank fayours a Pledge over the Assignment, the CoNateral ishereby pledged to the Bank, and vice versa.

If third parties' assets, Claims or rights which are deposited orbooked into accounts with the Bank in the name of and man-aged by the Pledgor shall be pledged and/or assigned, äs appli-cable, to the Bank, the Pledgor herewith confirms to be fully andunconditionally authorised to pledge and/or assign, äs applica-ble, such assets, Claims and rights by this Agreement.

This Agreement shall apply in addition to and have no impacton any existing or future guarantees of the Bank. The releaseof individually pledged and/or assigned items, äs applicable.from the Pledge and/or Assignment does not affect the Bank'sPledge and/or Assignment on the remaining Collateral. In theevent that Collateral is exchanged, the new items shall be sub-ject to this Agreement without further formaiities.

In case of mortgage deeds, Instruments conveying title to goodsor other movable property äs Collateral. the Pledgor shall beobliged to insure the Collateral, or the real property or goodsunderlying such Collateral, at his own expense, with an insur-ance Company acceptable to the Bank, against all related risks.All insurance documents, bearing the necessary endorsementsof assignment, must be handed over to the Bank at its request.In case of non-compliance with this Provision, the Bank shall beentitled. but not obliged, to have the Collateral insured at theexpense of the Pledgor or Debtorwith an insurance Company ofthe Bank's choice.

. The Pledgor herewith pledges and/or assigns, äs applicable, tothe Bank the Claims arising from any realisation of the Collat-eral or pari thereof, together with all rights directly br indirect-ly related to the Collateral, including Claims for compensationagainst shippers, transport companies, warehouses, insurancecompanies, etc. The Bank shall be entitled to give noticc of suchassignments and/or pledges to the third-party debtors.

In the event that the Collateral shall be transferred to a newowner, the Pledgor agrees to cooperate and to issue upon firstdemand any declarations, endorsements or assignments neces-sary for the enforcement of the Pledge and/or Assignment.

The Bank may at any time request to have Collateral that is inpossession of or booked with third parties transferred into itsown custody or accounts pr into the custody or accounts of anyparty designated by the Bank.

The Bank may at any time and without notice to the Pledgor no-tify the debtors of the Collateral of the Pledge and/or Assign-ment and may request performance to itself.

The Pledgor guarantees, warrants and represents:

1. that all Collateral being subject to this Agreement is freeof any further charges or encumbrances äs well äs of anylimitations and restrictions with regard to its transferabili-ty;

2. that the execution of this Agreement and any other agree-' ment with the Bank does not violate or confl.ict with any

law, regulation or contractual Obligation applicable to thePledgor (especially non-violation of any Pari Passu or Neg-ative Pledge clauses);

3. not to do or cause or permit anything which will, ot couldbe reasonably expected to, adversely affect or which inany way is inconsistent with or depreciates, jeopardises orotherwise prejudices the Collateral or the rights of theBank under this Agreement; and

BANK JULIUS BAER & CO. LTD. 2/4

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Julius Bär

4. not to create any other security over the Collateral whichsuch further security is intended to rank in priority to orequally with the Pledge and Assignment without the priorwritten consent of the Bank.

If the lending value, the amount of which is based on the typeof Collateral. its market or nominal value and risk profile ofboth the Collateral, the Pledgor and the Debtor, stipulated byor agreed with the Bank from time to time, changes or the Bankconsiders at its sole discretion for any other reason (hat theCollateral is no longer sufficient, the Bank shall be entitled toeither demand from the Pledgor and/or the Debtor additionalassets, Claims or rights considered acceptable and adequate bythe Bank äs Collateral or respective (füll or partial) repayment ofthe debt. This shall likewise be applicable to trading operationsrequiring a margin. The Bank's request for additional Collateralor (füll or partial) repayment of the debt shall be submitted tothe Pledgor and/or the Debtor verbally or by means of regis-tered or unregistered letter, phone, fax, telegram, e-mail or allother electronic means.

II the Bank's request remains unsatisfied within a time limit fixedby the Bank or if for legal or factual reasons (e.g. the Pledgor orDebtor cannot be contacted, etc.) notification cannot be effect-ed or other extraordinary circumstances occur (e.g. consider-able market flyctuations. etc.), then the Secured Claims shallbecpme due and payable immediately without notice. In thiscase the Bank shall be entitled, but not obliged, to liquidate theCollateral at its sole discretion by any means whatsoever (in-cluding through private sale or acquiring the Collateral for itsown account at market value) without havingto initiale proceed-ings under, and without regard to the formalities provided in.the Swiss Federal Debt Enforc.ement and Bankruptcy Act andwithout incurring any responsibility, to the extent necessary tosatisfy its Claims, either immediately or at a later date irrespec-tive öl any due dates. In addition, the Bank is entitled to sei offthe Claims pledged and/or assigned, äs applicable. Open posi-tions may be liquidated and short positions may be closed outby repurchases. Where more than one of the" Secured Claimsis outstanding and/or the Collateral consists of more than oneitem pledged and/or assigned and/or the.re are items pledgedand/or assigned by third-parties, the Bank shall be entitled tofreely decide on the chronological Order in which Claims shall beredeemed and items pledged and/or assigned shall be realised.The Bank is entitled, but not obliged, tp initiate ordinary debtenforcement proceedings against the Debtor under the SwissFederal Deb.t Enforcement and Bankruptcy Act prior to the liqui-dation of Collateral or by private sale or acquisition for its ownaccount.

The above paragraph shall likewise be applicable if the Pledgorand/or the Debtor is (wholly or partially) in default with the pay-ment of any Secured Claims or fails to perform or observe anyobligations vis-ä-vis the Bank or breaches any terms of thisAgreement or any other agreement with the Bank or if any rep-resentation or warranty is or becomes at any time untrue.

Should the Bank decide to initiate ordinary debt enforcementproceedings under the S.wiss Federal Debt Enforcement andBankruptcy Act to enforce its Claims, it may at its sole discre-tion initiate proceedings against the Pledgor and/or the Debtor.

either for debt enforcement by way of realisation of Collateral orby way of bankruptcy or seizure and realisation of assets.

The Pledgor and the Debtor authorise the Bank to take all Stepswhich the Bank considers necessary for the creation and reali-sation of the Collateral and undertake to immediately fulfil allformalities which the Bank may require upon simple request.All v/ritten Communications by the Bank shall be deemed validlyserved if sent to the latest address given by the Pledgor and/orthe Debtor. Any communication shall be deemed validly servedif sent to the Debtor and/or the Pledgor. If the Bank has beeninstructed by the Debtor and/or the Pledgor to hold their mail,all communication shall be deemed validly s.erved also if docu-mented respectively in the Debtor's and/or Pledgor's file äs atthe date of such filing.

The Debtor and the Pledgor herewith authorise the Bank to dis-close to the Pledgor and the Debtor respectively all relevant In-formation regarding their account(s) with the Bank (including,without limitation, personal sensitive data) verbally or by meansof registered or unregistered letter, phone, fax, telegram, e-mailor all other .electronic means and releases the Bank from theduty to maintain Swiss banking secrecy accordingly.

In case Collateral is subject to any changes (including, withoutlimitation, redemption, liquidation, loss, termination, drawing.repayment, etc.) that have a negative impact on the Collateralfor the purpose of the Pledge and/or Assignment, then it shallbe exclusively the responsibility of the Pledgor and the Debt-or to take any required measures in order tp compensate suchchanges and to assume any consequences which result fromomission or neglect of such measures. In addition, and irrespec-tive of any measures taken by the Pledgor and/or Debtor, theBank may take any such measures it deems necessary in orderto protect its own interests in the Collateral.

The Bank is authorised, but not obliged, to call in and to collectpledged and/or assigned securities, bills of exchange. Claimsand the like, äs well äs to collect interest, dividends, etc. It shall,however, not be obliged to file Claims against the Pledgor and/orDebtor in the event of bankruptcy, death, public notice to credi-tors, judicial inventory, etc. of the Pledgor and/or the Debtoritself.

It is the sole responsibility of the Pledgor and the Debtor to ob-tain advice on and to comply with all reporting obligations, dis-closure requirements, trading restrictions and any o.ther marketrules under the laws and regulations applicable to th.em at anytime.

The Pledgor herewith confirms to be solely responsible to in-form itself on the Content of the Secured Claims.

All matters arlslng In connectlon with this Agreementshall exclusively be governed by and construed In accord-ance with Substantive Swiss law (with the excluslon oflaw of confMets rules).

In addition, the General Banking Conditions of the Bank shall ap-ply to any dealings with the Bank.

SANK JULIUS BAER & CO. LTD. 3/4

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The Bank's domiclle in

Geneva shall serve äs the place ofcontract and performance, äs well äs the place of Jurls-dlctlpn In respect of all proceedlngs in connectlon wlththls Agreement. The Bank may, however, Initiale legal pro-ceedings against either the Pledgor or the Debtpr or bothpartles In any other competent Swlss or forelgn court, Inparticular at the domlcile or prlnclpal place of buslness of

Place, date

Place, date

the Pledgor and/or the Pebtor or at any other permittedplace. If the domiclle or prlnclpal place of buslness of thePledgor and/or the Oebtor should be abroad, the afore-mentloned domiclle of the Bank shall be appllcable äs thespecial domiclle wlth respect to debt collectlon proceed-ings.

Both, the Pledgor and the Debtor. hereby confirm to have re-ceived a copy of thisAgreer" "

Starmraoö Signature(s) of D/btor(s)

So.o

Fpr internal use of-the Bank only Relationship Manager

BANK JULIUS BAER & co. LTD.

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Julius Bär

Acte de nantissement g£n£ral et döclaration de cession

La sousslgne'e, le(s) soussigne(s), nom(s). pr^nom(s), sodete1

CHELFORD PROMOTIONS S.A.adresse(s)

53rd E Street Urbanizacion Marbella. MMG Tower. 16th Floor, Panama

(ci-aprfes d£nomm£(s) i le constituant t) accorde(nt) par la präsente ä la

BANQUE JULIUS BA.ER & CIE. SAainsi qu'ä ses succursales

(ci-apres de'nomme'e i la banque >) un drolt de nantissement en garantie de l'ensemble des cräances existantes ou futures de labanque

1. envers le constituant {qui est en l'espece ögalement le dfibiteur) et/ou

2. envers:

nom, prtnom

adresse

2.1 ä haute.ur de (limite n;est,que pogsiölaâns la mesure oü le gage a 616 constitue' par un tiers):

monna'ie: _—^ ; rnontant:

(ci-apres <S6nomm6 ele däbiteuri) ou envers son/ses ayant(s)cause. Sont consideYe> comme crânces les drpits a l'exöcutlonde tpus les engagements döcoulant ou pouvant d^couler ä l'ave-nir des relations d'affaires avec la banque {notamment, mais nonexclusivement, les engagements se rappprtant ä des opgrationsen cpmpte ou d'effets de change. ä des transactlons en mar-chandises, ä des opgrations de bourse, ä des opörations avecdes Instruments linanciers d^riv^s effectuäes hors-bourse. ädes dgpöts, ä la gestion de fortune, ä des op^rations fiduclaires,etc., y compris des engagements en cours tels que ceux proye-nant de droits de recours) ou qui d^cpulent ou peuyent dßcoulerä l'avenir d'autres causes Juridiques. meme si ces engagementsne sont pas encore ätablis legalement (par exemple Eventuellescrânces fiscales, etc.). Le droit de nantissement s'etend en par-

ticulier, mais non exclusivemenl, au capital de ces cr£ances, auxintferets en r£sultant ou venant encore ä Echeance, aux commis-sions, aux provisions et aux autres frais tels que les frais d'entre-posage ou de transfert, les frais de transport ou de douane, lesprimes d'assurances, les frais d'evalyation, les loyers, etc., lesfrais de l'exercice du droit de nantissement ou de la cession decrânces, ainsi que les frais et dgpenses de prpc£dure judiciaireoy d'exe'cution forcöe. Le droit de nantissement subsistera me-me si les obligations du constituant et/ou du d^biteur devaientötre temporairement remplies en tota|it6 ou en partie.

Le droit de nantissement porte sur l'ensemble des biens. cr6an-ces et droits actuels ou futurs appartenant au constituant, enparticulier sur:

= * BANQUE JULIUS BAER & CIE SA

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1. tous les papiers-valeurs. tous les droits non mate>ialis£s pardes titres, notamment les papiers-valeurs avec Impressiondifteräe. effets comptables, tous les droits en rapport avecle pret de titres. notamment ceux ä la restltution des titresprete's et les droits sur les sOreUs mises ä disposition parl'emprunteur ou un tiers eVentuel. tous les actes de crean-ces et de participation, tout argent en especes, tous lesmgtaux precieux (y compris les pleces de monnale) et tousles autres objets de valeur que la banque conserve ou gereactuellement ou conservera ou geVera a l'avenir, solt eile-meme. seit ailleurs, exclusivement ou partiellement, sousune designation quelconque pour le compte du constituant,ou qui se trouvent pour une raison quelconque dans les lo-caux de la banque;

2. toutes les crgances echues et non encore echues, actuellesou futures. incorpor^es ou non dans un acte, ainsi que tousles avoirs existants ou, de cas en cas, resultant ä l'avenir enfrancs suisses alnsi qu'en monnaies Strengeres (devises) oudans leur contre-valeur en francs suisses, et tous les autresdroits de n'importe quelle nature, y compris les droits pr£-fe>entiels et les droits accessoires £chus et non echus,actuels et (uturs (inteVets, dividendes. droits de souscrip-(ion, actions gratuites, etc.); par la presente, ces crgancessont cedees en totalite ä la banque aux fins de garantie;

3. toutes les marchandises qui se trouvent actuellement ouse trquyeront a l'avenir, pour une raison legale quelconque,directement' ou indirectement en la possessipn ou plac£essous le pouvoir de disposition de la banque, soit dans desentrepöts. chaz des transpprteurs, en cours de transport,soit n'importe oü en de>6t ou en cours de manufacture,etc.; ceci est ägale.ment valable si la banque est en posses-sion sur la base de documents de marchandises au sens leplus large. comme par exemple connaissements, lettres devoiture, cerlificats d'entrepöts. etc.

Po.ur autant qu'au moment du nantissement ces marchandi-ses se trouvent encore en cours de transport, le constituantcedera en nantisse.ment ä la banque tous les droits decou-lant des documents etablis ou ä elablir pour telles marchan-dises telles que connaissements, lettres de voiture, p.olicesd'assurances. certificats d'entrepöt, etc., ainsi que tous lesdroits actuels ou futurs dScoulant directement ou indirecte-ment de ces transports, que le constituant possede enversles agents de transport, les compagnies d'assurances. etc.La banque sera en droit de designer le lieu oü les marchan-dises s.eront ä entreposer. L'entreposage et le transport seferont exclusivement aux risques et pgrils du constituant quidevra egalement veiljer ä ce que la rnarchandise soit entre-tenue de maniere appropriee.

En cas de nantlssement de titres hypoth^caires, de documentsde marchandises ou d'autres biens mobiliers, le constituant esttenu d'assurer, a ses frais, aupres d'une compagnie d'assuran-ces agr££e par la banque, les objets remis en gage, respective-ment les immeubles ou les marchandises que les titres incor-porent. contre tous les risques auxquels ils sont exposes. A larequete de la banque, tous les documents d'assurances serontä lui re.me.ttre, revetus des d^clarations de cession necessaires.En cas de non-observation de ces prescriptions. la banque seraen droit. sans toutefois en avoir l'obligation, de faire assurer lesgages aupres d'une compagnie d'assurances de son choix ä de-signer par elle-meme, aux frais du constituant ou du debiteur.

Le constituant cede ä la banque les creances resullant d'uneeventuelle realisation des gages ou d'une partie de ceux-ci,ainsi que tous les droits ayant un rapport direct ou indirect avecces gages. y compris d'eventuels droits de dommages-inte>ltsenvers des expediteurs. des entreprises de transport. des de-positaires, des compagnies d'assurances. etc. La banque estautorisee ä notifier ces cessions aux tiers d^biteurs.

Le constituant s'oblige ä collaborer lors du transfert de gages ä unnouvel acquäreur et ä fournir a premiere requete les dedarations.endossements ou cessions necessaires ä l'exercice du droit degage. Par la präsente, les titres non etablis au porteur ainsi queles droits rgsultant de livrets d'epargne et de IK/rets de d£p6t corvsignes sont cedes ä la banque au sens de l'article 90l al. 2 CCS.

Les gages se trouvant aux mains de tiers peuvent en tout lempsetre pris par la banque sous sä propre garde ou sous la garded'un tiers ä designer par elle-meme. La banque est en droit.sans toutefois en avoir l'obligation. de representer le consti-tuant en tout ce qui concerne les valeurs mises en gage etd'exercer d'eventuels droits de socie'taire.

Si la marge tombe en dessous du niveau convenu ou du niveauperiodiquement fix£ par la banque, ou si, pour d'autres raisons,la banque estime les garanties fournies Insuffisantes, eile seraen droit d'exiger. ä son choix. du constituant et/ou du dgbiteur,une couverture suppl£mentaire ou le remboursement. Ceci estggalement valable pour des engagements a terme. La demandede la banque visant ä obtenir une couverture supplgmentaire oule remboursement est adressge, ä l'appräciation de la banque,au constituant et/ou au debiteur par lettre recommand£e oupar le.ttre non recommandöe, par telöphone, tflifax, t^/^gram-me, par email (Internet) ou par tout autre moyen electronique.Si le courrier est retenu par la banque, cette demande peut gtreadress^e sous pli simple. La dette deviendra imm^diatementexigible si la demande reste sans suite dans les d^lais fix^s ousi l'avertissement est impossible pour des raisons de droit oude fait (p. ex. si le constituant ou le dgbiteur ne peuvent etreatteints) ou encore s'i.l existe d'autres circonstances extraordi-naires. En pareil cas. la banque sera en droit, sans en avoir tou-tefois l'obligation, de realiser librement les gages, notammenten procidant ä la vente de titres, en denoncant des creancesnanties, en les encaissant ou en les compensant, immediate-ment ou ult^rieurement, mime ayant une eventuelle Scheance,sans autres formalites et selon sä se.ule appr^ciation et sansencourir une responsabllil6 quelconque. ä condition que ces d6-marches soient necessaires ä ramortissement de ses creances;les obligations resultant de ventes ä däcouverl peuvent etrecompensees par des rachats. Lprs de la realisation, la Banqueest aussi en droit de se porter contrepartle. En cas de pluralit£de creances et de sGretls, la banque d£cide seule de l'ordredans lequel les söretes existantes sont realisees et du choix descreances qui sont amortles les premieres.

Le paragraphe pröcedent s'applique aussi au cas oü le consti-tuant et/ou le dgbiteur sont en demeure pour la totalite' ou unepartie de la dette ou pour l'execuüon d'une autre Obligation.Si la banque prgfere procgder par voie de poursuite envers leconstituant et/ou le d£biteur. eile peut le faire, a son choix. soitpar voie de poursuite en realisation de gages. soit par voie desalsle. respectivement de faillite.

SOi

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v1PC1_20151015_004_0059_F

Le constituant autorise (a banque ä prendre toute mesurequ'elle jugera nScessaire ä la constitution et ä la röalisationdes cr£ances et sürete's et s'oblige de spn cöt£ ä exScuter. surpremiere räquisition de la banque. toutes formalitös que cettederniere indiquera. Toutes l es Communications de la banquespnt consld£r£es comme 6tant juridiquement valables si ellessont envoye1 es ä la derni&re adresse indique'e par /e constituantet/ou le de" biteur. Le courrier retenu par la banque est conside'räcomme dgliyrä ä la date figurant sur la communication.

II appartient au constituant seul de sauvegarder les droitsconcernant les pbjets nantis et d'entreprendre les dSmarchesrelatives aux d^nonciations, aux tirages au sort, aux rembour-semenls ou ä toute autre Operation concernant les papiers-va-leurs ou les droits non mat^rialisäs par des titres, notammentles papiers-valeurs avec Impression diftere'e, soumis au präsentnantissement. itant entendu que le constituant supportera seulaussi toutes les cons^quences d'une omisslon ou d'une n£gli-gence de sä pari. La banque est.toutefois en droit d'y proce'derelle-meme si eile l'estime n^cessaire pour sauvegarder ses in-t^rlts.

La banque est en droit, sans toutefois en avoir l'obligation, dedgnoncer et de procäder ä l'encaissement des titres, des effetsde change, des cr^ances, etc. nantis. ai.nsi que d'encaisser des

s. dividendes. etc. De mgme. la banque n'aura pas l'obli-

Lieu, date

0 3 0 3 6 3 9 5

gation de faire valoir ses cr£ances envers le constituant et/oule d^biteur en cas de faillite, de deces, d'appel aux crganciers,d'inventaire judiciaire, etc. du constituant et/ou du d6bileur.

Le droit suisse est seul applicable pour l'interprötalion des rap-ports juridjques r^sultant du präsent acte de nantissement etd£claration de cession. Le lieu de conclusion et d'ex4cution ducontrat est au siege de la banque a Gengve.

Gen6ve est le for comp£tent pour toutes les oroc^durescn relatlon avec le or6sent octe de nantissement et d6-claratlon de cession. La banque sera toutefois en droit depoursulvre tant le constituant que le d£blteur devant toutautre trlbunal comp£tent suisse ou Strenger, en partlcu-ller devant le trlbunal de leur dornlcile, respectivementde leur sifege, ou devant tout autre for de poursulte com-p6tent. SI le dpmlclle, respectivement le sl^ge du consti-tuant et/ou du d^biteur, se trouve ä l'ätranger, le sl&ge dela. banque est consldärg comme domiclle so^cial pour lesactes de poursulte.

Par ailleurs, les relations avec la banque sont soumises auxCpnditions g^nirales applicables aux relations bancaires.

Le constituant confirme avoir re;u un exemplaire de la präsenteconvention.

Signature(s) du (des) titulaire(s) du compte

Lu et approuvä. A signe.r par le d^biteur sl le gäge a £te constitue par un tiers.

4Signalure(s) du (des) d^biteur(s)

consefller ä la clie'ntete

SIGNATUREVERIFIEE

signature:

§«oa 3/3

JMPC1 20151015 004 0060 F

U.-

0 3 0 3 6 3 . 9 5

Contrat de credit

Denomination du compte/d£pöt


1. Champ d'appllcation

La präsente convenüon s'applique a l'ensemble des crädits etopgrations impliquant un engagement finanzier de la Banque(par exernple criSdit en compte courant, avances ä terrne fixe,engagement conditionnel, crädit par engagement, opdrationsdenggoce soumises a ('Obligation de marge, ci-apres ccredit(s)i).pour lesquels les avoirs du Client ou d'un tiers fönt objet d'unnantissement en faveur de la Banque. Elle s'applique aux creditscontracte's au moment de sä Signatare ou qui le seront ulteVieu-rement dans le cadre de la relation d'affaires exislant entre laBanque et son Client. La Banque se rgserve le droit de confir-mer par gcrit les cpnditions conyenues pour les differents cr6-dits, de conclure des contrats suppl£mentaires pour certainstypes de transactions et/ou d.e contresigner des d^clarationsd'un genre particulier.

2. Principes applicables en matiere de cre"dlt

En principe, seuls des titres librement nggoclables et autresactifs facilement re>lisables (tels que metaux precieux, place-ments a terme, placements fiduciaires, droits et prltentions d&-coulant d'assurances-vie, etc.) peuvent etre acceptis ä titre d.esüretÄs pour un crödit. La Banque decide, ä sä seule discr^tion,des valeurs patrimoniales susceptibles de servir de süret^s etdes limites de credit applicables.

La Banque se r£serve le droit de modifier ces principes en touttemps sans Stre tenue d'en aviser ou d'en informer, au pr^ala-ble, le Client.

La valeur d'avance est dfterminee en fonction de la valeur bour-siere des actifs de1 tenus ä titre de süretfc et varie selon les fluc-tuations quotidiennes de leur cpurs. La valeur d'avance actuellepeut §tre demande'e en tput.temps.

3. Conditions.d'utilisatlon du er6dlt

Toute utilisatipn de c,re"dit requiert une demande en ce sens duClient, une vateur d'avance süffisante des actifs nantis et l'ac-ceptation de la Banque.

La demande de crödit du clienl peut intervenir de maniere ex-plicite ou tacite. AinsC l'ordre d'acheter des titres peut etreconsjde>6 comme une demande de credit, dans la mesure oüles liquidiiäs ngcessaires ne sont pas ou ne sont que partielle-ment disponibles. L'acceptat/on de credit est en regle g£r\6ra-le d.e'livre'e oralemeot ou tacitement, rögulierement aussi aprescomptabilisation sur le compte du cjient et ex^cution de l'op^-ration.demandee.

II n'existe toutefois aucun droit quelconque, ni actuel ni futur. äl'octroi d'un credit; un tel droit ne ddcoule pas au surplus de lasignature du präsent cpntraL

Julius Bär

NumeVo de compte/däpöl

0303.6395

4. Limite de crödil

La valeur d'avance des avoirs d£pos£s sur le(s) cornpte(s)/däpöt(s) du client aupres de la Banque ddtermlne en principe lemontant maximurn de ja limite de crädit.

La ligne de crgdit utilisable dans le cadre de cette limite doitfaire l'objet d'une däcislon d'approbation par les organes com-p^tents de la Banque (non seulement lors de l'octroi initial, rnais^galement de maniere p£riodique). En cons^quence, et saufconvention contraire, la Banque doit etre consuWe avant tou-tes utilisations des lignes de crädit.

5. Utilisation de la limite de cr6dit

Cette limite de cr^dit peut en principe etre utilise'e commesuit:

i- pour des däcouve.rts temporaires en compte courant- pour des avances ä terme fixe- pour des credits par engagements- pour des engagements conditionnels- pour des opeVations de nggoce soumises ä l'obligation de

marge.

L'octroi, ou le renouvellement, d'avances ä terme fixe seraconfirme' par l'envoi d'un avis bancaire. Les dispositions dupräsent contrat de credit sont applicables aux avances ä ter-me fixe, tant qu'elles ne sont pas comple'te'es ou modifie'es parl'avis bancaire. Oans tous les cas, la Banque se räserve le droitde reVoquer en tout temps la ligne de credit, conform^ment auChiffre 13 ci-desspus.

Les opdrations de nägoce ne seront pas rapport&s ä la ligne decr6dit selon leur valeur nominale, mais moyennant un facteur derisque, qui sera fix£ par la Banque. La Banque se r£serve le droitde modifier le facteur de risque en tout temps sans etre tenued'en aviser ou informer le client. La Banque est libre d'accep-ter que des opeVatipns de nggoce du client d£passent la limitede credit. En conse'quence la Position risque cumule'e du Clientpeut ainsi gtre plus e'leve'e que la limite de credit disponible, no-tamment en rapport avec des produits dgrive's. La Banque peut.mais n'est pas obligge. d'en informer le client.

8ANQUE JULIUS 8AER & CIE SA 1/2

,MPC1_20151015_004_0061_F,1 - •' '

6. Rlgularlsatlon de däpassements de limite /comptäments de marges

Si l'utilisatipn du cr^dit est superieure ä la valeur d'avance dessGretes, une Situation de d&passement en resulte.

Dans ce cas, la Banque est en droit. sans y 6tre obligde. d'exigerune regula.risation immediate du depassement et se rgserve enoutre le dfoit de mettre un terme au contral de credit. La Ban-que est toutefois libre d'accepter de tels depassements sansetre tenue d'en aviser ou informer le clienl.

Cette regularisation peut fitre effectuee par la vente de süretes,la clöture de positlons ouvertes. l'apport de sürete's suppldmen-taires considerees comme acceptables par la Banque, ou unversement en especes.

Si le dient ne donne pas suite ä la demande de rägularisationdu depassement de limite ou de remboursement du credit r6-silie' dans le deMai qui lui aura dtö signifig par äcrit ä l'adressed'expedition convenue, la Banque est en droit de procdder ä laregularisation par voie de rgalisatipn des gages. Ceci se fait enprincipe par la vente de gre a gre d'une partie ou de la totalit£des actifs mis en gage, par la clöture de positions ouvertes oud'une autre maniere appropriee. La Banque choisit librement lemoment de la vente ainsl que les süretes ä rdaliser. En outre, laBanque est en droit d'obtenir le paiement de la part du dientdes sommes dues, avant que les actifs nantis ne soient totale-ment ou partiellement rialisds.

7. Condrtions

Le calcul des interets d^biteurs est effectue' en fonction destaux du marchS au moment de la Iransaction. La Banque est endroit d'adapter en tout temps les conditions du credit ä la Situa-tion du marche' sans le notifier par ecrit au dient.

Les interets courus et autres frais eventuejs sur les avances encomp.te courant sont debiles periodiquementet, pour les avan-ces ä terme fixe, ä chaque echeance (mais au minimum unefois par an).

8. Suretls

Par le p/gsent contrat, le dient met en gage l'ensemble de sesvaleurs patrimonfales, cr^ances et droits, actuels et futurs, de-poses aupres de la Banque. Les modalites precises de cettemise en gage (ou cession de valeurs patrimoniales däterminees)sont pricis^es dans je document intituli lActe de nantissementg^n^ral etdfclaration de cession« ou toutes autres conventions.qui constituent une partie intögrante du present contrat de ct6-dit. £n outre, si des valeurs patrimoniales d'un tiers sont ou se-ront mis en gage en fayeur de la Banque, ces valeurs tiennentggalement lieu de süretis en relation avec le prfsent contrat.

Lieu, date

3 0 3 6 3 9 5

9. Responsabllltä solldalre

Si des credits sont octroygs ä plusieurs personnes, chacuned'entre elles räpond solidairement vis-ä-vis de la Banque pourla totalitd de l'engagement contractd.

10. Mandat degestion accordd ä la Banque/Pouvoir de gestlon en faveur d'un tiers

Si le Client a confld un Mandat de Gestlon ä la Banque ou s'il aconfdrfi ä un tiers un Pouvoir de gestion portant sur l'adminis-tration des valeurs mises en gage, qui se trouvent sous la gardede la Banque, la Banque ou le tiers mandatd sont autorises äeffectuer les opeVations mentionne'es dans le mandat ou le pou-voir, dans le s (riet respect des conditions de la tacilitd de creditmise ä la disposition du dient. Cette disposition s'applique dga-lement aux mandals de gestlon de Fortune ou pouvoirs de ges-tion qui pourraient 6tre confdres ultdrieurement.

11. Frais, Impöts et Taxes

La Banque facture et däbite au client les frais, taxes et impötseventuels qui resulteraient de ce contrat de cre'dit.

12. Dispositions speciales

Les Conditions Gdnerales, le Reglement de Depot, l'Acte deNantissement General et Odclaration de Cession et d'eventuel-les autres conventions de la Banque Font partie integrante de cecontr.at de cre'dit.

13. Duräe du cr^drt et r£siliation de la ligne de credit

Sauf conyention contraire, la duree du crddit est illimitee. Leclient est libre et la Banque se räserve le droit de mettre un ter-me, en tout temps, ä la ligne de cre'dit avec effet imme'diat. Encas de resiliatipn, toutes les creances ouvertes (notamment lesavances ä terme fixe) deviennent cxigibles et doivent gtre rem-boursees immddlatement. Le client d£dommagera la Banque detous les inconvönients et/ou frais qui pourraient en resulter. Envertu des dispositions späcifiques applicables au cas particulier.(es crddits par engagements et les engagements conditionnelsätablis par la Banque demeurent valables jusqu'a leur echdance,et ce sous 1'entiere responsablüte" du client.

Signatureisl du (des) titulairelsl du compte

G

Df>BB8i»3SaS SIGNATUREVERIFIEE

signature:

MPC1_20151015_004_0062_F

•O

S

Julius Bär

Baer®Onllne

e-banklng Application and Regulatlons governfng Access Authorisation

To improve readability, only t he masculine form is used in this document.

Details of the Baer®0nline e-banking user to be authorised (hereinafter referred to äs the 'authorised user'):

G Ms &j Mr

Last name First name

Address Postal code/city

i ZC2. frdpJ- 60) 2n Qq - ^// /g ro/NationalityHesj' " .......... Dateofbirth

Already has an e-banking contract number:.

Application for the issue of a new e-banking contract number

ms.tructions regarding the handing out/sending of authoiisation data:

CJ Dispatch to the address above

G Dispatch to the following address:

Address

Postal code/city Country

Collection in p.erson frprn the bank counter in:

Tne authorised user has access to the account(s)/custody account(s) listed below and alrcady has a corresoonding power ot dis-posal or rightpf infprmation in accorda.nce.with the applicable Client documentation at the Bank (e.g. is the account holder, attorney,attorney with a thi'drparty management authorisatipn. authorized person with a third-party infprmation authorisation). Access toBaer®0nlin& e-banking is authorised in accordance with the power of disposal or right of Information in respect of the correspond-ing account/custody account, äs granted to the authorised user. In addition to the use of basic Services (asset Statements, accountand custody account Statements, Statements of account and custody account movements äs well äs an overview pf banklng docu-rnents), payment ord.ers and securities Orders can also be transmitted, dependlng on the access authorisation.

The authorisation to access Baer®0nljne e-banklng also automatlcally explres once any Bank form grantlng a certalnpower (e.g. 'Power of Attpmey', Thlrd-Party Management Authorization* or 'Third-Party Information Authorlzatlon') Isrevoked by, the account/custody account holder.

BANK JULIUS BAER S CO. LTD. U31240. 1/8

MPC1_20151015_004_0063_F

Julius Bär

I. e-banklng access to account/custody account:


ZA

Prerequlsite (please only tick one of the boxes below):

Account holder Jj£ Attorney D Attorney with a third-party G Person with a third-party Information authorisationmanagement authorisation

II. e-banklng access to account/custody account:



O Account holder D Attorney D Attorney with a third-party D Person wi.th a third-party Information authorisationmanagement authorisation

III. e-banklng access to account/custody account:

Title of account / custody account Account / custody a.ccount no


D Account holder D Attorney ü Attorney with a third-party D Person with a third-party Information authorisationmanagement authorisation

IV. e-banklng access tp account/custody a.ccount:

Title of a.ccount / custody account Account / custody account no

Prerequlsite (please only tick one of the boxes below):t

D Account hold,er D Attorney G Attorney with a third-party D Person with a third-party Information authorisationmanagement authorisation

V. e-banklng access to account/custody account:

Title of account,/ custody account Account / custody account no

Prerequlsite (please only tick one of the boxes below):zS G Account holder G Attorney G Attorney with a third-party G Person with a third-party information authorisation« management authorisation

S BANK JULIUS BAER & CO. LTD. U31240. 2/8

MPC1 20151015 004 0064 F

Julius Bär

Under certain circumstances, due to domestic and foreign stat-utory provisions the Bank may restrict and/or prohibit the useof BaerOOnline e-banklng Services.

The Bank reserves the right to offer additional ßaer®0nlinee-banking Services. Further, separate declarations may be re-quired in orderto use such additional Services.

Changes to the ränge of Services offered or the current feestructure for Baer®0nllne e-banking Services are notlfied In anappropriate manner.

Access tp BaerOOnline e-banking is gained via the fpllowingsecurity.leye.ls:

1) Personal authorisation using the e-banking USB stick(CLX-Sentinel). The CLX-Sentinel stick is activatedwhen the activation codes, which are sent separately,are used for the first time.

2) Entry of the Personal Identification Number (PIN).

U shall be at the absolute discretion of the Bank to extend ac-cess to Baer®0nline e-banking at any time by using furtherpersonal means of authorisation or procedures, or to amendor completely discontinue the current personal means of au-thorisation or procedures. The account/custody account holdershall be notified of any change to the personal authorisationmeans or prpcedure in an appropriate manner.

The authorised user(s) is/are o.bliged to change the PersonalIdentification Number (PIN) on a regulär basis.

In addition to tfie Standard practice of sending banking docu-ments by post, the Bank also makes these available to theauthorised user(s) electronically. Documents sent in Ihis wayare provided in PDF formal (the Bank expressly reserves theright to make changes). The authorised use r (s) is/are respon-sible for installing the appropriate Software required to displaythe documents. The eleclronic,banking documents are availa-ble for download in e-banking for a period of 24 months, af-ter which they are deleted. Documenls are deleted without dueconsideration of the above time period upon the clpsure of theaccount(s) and/or custody account(s) for w.hich the documentsare sent electronically, or upon cancellallon .of the agreementregarding BaerOOnljne e-banking. |t shall be the responsibilityof the authorised user(s) to retrieve and save the documents inadvance, where this is necessary. The Bank does not assume

any liability for loss or damage resulting f rom the deletion of thedocuments. Where necessary, banking documents which areprovided electronically may be subsequently requested in hard-copy formal In exchange for a fee.

With Ihe exception of the documents created in PDF formal anddownloaded via Baer®0nline e-banking, no personal or bank-specific data may be stored on the e-banking USB stick (CLX-Sentinel).

The Bank expressly points out that it assumes no liability forthe security. timellness and completeness of the banking docu-ments made available electronically, i.e. in particular protectionagainst access by third parties.

The underslgned account/custody account holder(s) con-fer upon the authorised user the power to use hls personalmeans of authorisation for the aforementioned account/custody account numbers at the Bank in order to accessthe selected BaerOOnline e-banklng Services in the nameof and on behalf of the account/custody account holder.Where Services are subject to the payment of a fee, thisshall be charged to the account/custody holder.

In addition to the other provisions governlng the relation-shlp between the account/custody account holder(s) andthe Bank (Generat Banking Condltlons, Terms and Con-ditions appllcable to Custody Accounts, etc.), the 'BasicCondltions for the Use of BaerOOnllne Services', whichare an integral part of this form, shall apply.

The undersigned hereby conflrm that they have recelv.edthe 'Basic Condltions for the Use of BaerOOnllne Services'and agree wlth the Contents thereof.

AM of the authorised user's legal relatlonships in connec-tlpn wlth Baer®0nline e-banking shall be governed bySwissJaw. The Bank's domlclle inssJaw.

(m shall be the place of p.er-formance, place of debt enforcement for authorised us-ers residing abroad, äs well äs the exclusive place of ju-rlsdiction for all legal proceedings. Notwithstanding theforegoing, the Bank shall.have the right to refer any Claimagainst the authorised user to any court havlng jurlsdic-tjon in the authorised user's place of residente, any oth-er court of competent jurisdictlon, or permitted place ofdebt enforcement.

Place, date

Place. date

Signature(s) of the account/custody account holder(s)

Signatu/ of We authorised(if dift/rentXorn the accou

^ BANK JULIUS BAER & CO. LTD. U31240, 3/8

MPC1 20151015 004 0065 F

Julius Bär

Basic Conditions for the Use of Baer®0nline Services

1. Range of Services

1.1 The 'Baer®0nline' Services offered by Bank Julius Baer &Co. Ltd. (hereinafter referred to äs the 'Bank') enable us-ers with access authorisation to gain secure access to var-ious different Services of the Bank via certain channels ofcommunication (hereinafter referred to äs 'Baer®0nllne').The avaijable communication channels include electronicaccess via the Internet (including Internet via mobile ter-minal devices) and other external netwprks äs well ästhe telephone.

1.2 These basic conditions and the relevant application, inwhich the Baer®0nline Services and the associated ex-change of data are governed, are supplementary to thecontractual relationship already in existence between theaccount holder and the Bank, which expressly form s anintegral part of this agreement. Within the scope of appli-cation of Baer®0nline, the following provisions take prec-edence over any applicable deviating rulesset out in theaforementioned contracts o.r in the Bank's General Termsand Conditions and Sp'ecial Provisions.

1.3 The use of and access to Baer®0nllne wlthln andfrom the USA is not permltted. Other country restrlc-tlons remaln reserved.

1.4 The Bank shal| reserve the right at all times to suspend theBaerdpOnline Services (e.g. for m.aintenance work, in theevent of security risks. etc.).

2. Registration FormalltJes

2.1 In order to be able to use the abovernentioned Services,the account holder or his corresponding proxy must com-plete and sign the Baer®0nline application pertaining tothese basic conditions. It shall be at the Bank's absolutediscretion äs to whether a Baer®0nline service is offered.The account holder may apply for BaerOOnline Servicesfor individual or all of his accounts/custody accounts. Noapplication may be made to use individual Baer ©OnlineServices for sub-accounts/sub-custody accounts.

2.2 The account holder may authorise persons to get accessto Baer®0nline Services (account holder and authorisedperson hereinafter referred tp äs the 'Authprised User'or jointly äs 'the Authprised Users'). A correspondingpower of attorney or a specific access authorisation (de-pending on the BaerOOnline Service) must be issued inorder for access to be granted.

3. Access to Baer®0nllne/Propf of Identity

3.1 The Authprised User gains technical access to Baer®0nlinevia:

the Internet thrpugh the website vyww.jyliusbaer.comusing a. proyider of the Authprised User's choiceandsuitable Standard Software obtained from third par-ties;

a dial-up connection via the public telephone net-work for which no specific protection is provided;

the e-banking USB stick (CLX-Sentinel): or

any other means of communication that will becomecommonly used in future.

3.2 Access to Baer®0nline is granted once the Authorised Userhas been successfully authenticated by entering his person-al means of identlfication (e.g. user ID, PIN/password, Se-curlO token). The personal authorisation data is provided bythe Bank to the Authorised User and/or selected additionallyby the Authorised User himself (e.g. personal password).

3.3 The accompanying instructions'enclosed vyith the person-al means of authorisation or provided electronically (here-inafter referred to äs the 'instructions') describe how touse Ihe personal means of authorisation correctly in orderto provide proof of access authorisation. Once the instructtions have been received, these are recognised äs beingbinding once the personal means of authorisation hasbeen used for the first time (cf. clause 3.4). The Bank re-serves the right to introduce other means of authorisation..

3.4 Anyone who provides proof of Identity by using thepersonal meana of authorisation Is consldered bythe Bank to be authorlsed to use Baer®0nllne. TheBank 1s not obllged to carry out any further identlfl-cation check. Any activlties carried out on the baslsof these personal means of Identificationshall be at-tributed to the Authorised User concerned and shallbe legally binding on thls Authorised User and/or therelevant account holder. The account holder expres-sely acknowledges all transactions initiated viaBaer®Online which have been carried out with hisown personal means of authorisation or that of hisproxies. Llkewlse, all Instructions, Orders and notlfi-cations that reach the Bank In thls manner are con-sldered to be drafted by the Authorised User ofBaer®0nline and authorised by the account holder.Any loss or damage Incurred äs a result of the unau-thorised use of the personal means of authorisation(Including passwords) of the account holder or hisproxies shall be borne by the account holder.

3.5 The Bank shall be entitled, at any time and without statingany reasons, to refuse tp provide any Information and toaccept any instructions, Orders and notifications viaBaer®0nline and to insist that the Authorised User pro-vides proof of his identity in another form (e.g. by his sig-nature or by appearing in person).

4. Hardware/Software

As part pf his personal means of authorisation. the AuthorisedUser will receive special hardware in order to use Baer®0nline(e.g. SecurlD token, CLX-Sentinel, etc.). The hardware must bechecked within a week of its receipt. The Bank must be noti-fied immediately of a_ny defects otherwise the hardware shallbe deemed to have been accepted in good workjng order. The

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i

same shall apply to Software which may be supplied fpr particu-lar Bank Services.

Tp the extent permltted by law, no guarantee, represen-tatlon or warranty Is glven by the Bankthat the dellveredhardware/softwarels completely free pf defects. Für-themore no guarantee, representatlon or warranty Is glv-en by the Bank that all parts of the hardware/softwarewill match the Authorised User's expectatlons and thatIt will work perfectly in all appllcations and comblnationswlth other programs and hardware/network configura-tlons selected by the Authorised User. In the event ofdefects or errors whlch Impalr or stop the operatlng ca-paclty, the Authorised User must refraln from uslng thehardware/software and notify the Bank immedlately.

Hardware/Software shall only be provided to the Authorised Us-er for its deslgnated use. It shall remain the property of the Bankand/or the licenspr. It may not be cppied, distributed, amendedor otherwise process.ed, decompiled, leased or lent out.

5. Notifications to the Bank/Message Function

Notifications to the Bank wnich are sent using the messagefunction of a Baer@0nline Service platform shall not be bind-ing on the Bank. Some data included in such notifications istransmitted unprotected. As a basic principle, the amendmentor falsif ication of data during Internet transfer may therefore notbe excluded. Only general and publicly accessible Informationshould therefore be transmitted using the message function ofa 8aer@0nline Service platform.

6. Placing of Orders

6.1 In urgent cases, the Authorised User is requested to con-tact his relatipnship manager by telephone or in person inorder to issue Orders. In this connection, reference is alsomade in particular to the exclusion of liability clause(cla.use 10).

6.2 Orders and Instructions concernlng securities, bro-kerage and fpreign exchange tranaactlons pf per-sons from countrles In which the Bank does not haveany corresponding llcence or where It Is not regls-tered accordlngly may not be entered.

6.3 Stock exchange Orders which are entered via Baer®On|inecannot be executed around the dock. Transmission of thestock exchange Orders to the Bank's trading department,processjng of the Orders and the forwarding thereof to theBank's trading partner shall depend on technical condi-tions, the Bank's business hours/days, regulations gov-erning public holidays in Switzerland and abroad and thetradjng hours/days of the respective stock exchange. Theforwarding of Orders to the Bank's trading department isinterrupted in particular during the evening, overnight, atthe weekend, äs well äs in the event of technical faults.Insofar äs is technically possible, a confirmation pf a new-ly recorded order will inform the Authorised User that theorder will be fprwarded 'following a time delay'. DelayedOrders may be incorrect and the Authorised User may notimmediately be advised hereof. The Bank shall provideno guarantee that notif ication will always be provided ininstances where Orders are forwarded following a timedelay.

6.4 Stock exchange Orders via Baer®0nline are settled andposted within the context of normal operating procedures.It is not possible to deal with stock exchange Orders is-sued via BaerOOnline immediately or äs a matter of prior-ity.

6.5 The Bank shall be entitled at all times to reject or cancelOrders and Instructions (e.g. stock exchange and paymentOrders). This may occur if the Orders or instructions do notcorrespond to the relevant Standards (Stock ExchangeAct, Stock Exchange Ordinance, regulations, Standardpractices, etc.). The Bank shall also be entitled to reject orcancel Orders and instructions (e.g. stock exchange andpayment Orders) if there is an insufficient level of cover inthe account holder's corresponding settlement accountsor if the execution of a stock exchange order would in-fringe the purpose of an existing pledge or blocking of as-sets, or if the relevant contractual documentation requiredto carry out the transaction is incomplete.

6.6 If the Authorised User has issued the Bank with an elec-tronic order (e.g. payment order, stock exchange order,etc.) and, following the issue of the Order, the AuthorisedUser or the account holder can ascertain that the orderhas either not been carried out by the Bank or has beencarried out incorrectly, the Authorised User or accountholder shall be obliged to lodge a corresponding writtencomplaint with the Bank without delay.

7. Responslblllty for Investment Decislons

7.1 The Information and material available via Baer®0nline issolely provided fpr general information purposes andshould not be considered äs an individual recommenda-tion or personalised Investment advice. The type of securi-ties mentioned may not be suitable for every AuthorisedUser. The Authorised Users are urged to base their Invest-ment decisions uppn appropriate investigations whichthey deem necessary.

7.2 All Investments are subject tp certain risks. Fast perfpr-mance of an Investment is no indicalor of its future perfor-mance. The value of investrnents may both rise and falland it is possible that Investors will lose the principalamount which they invested. Foreign exchange rates fluc-tuations may result in the value of investrnents rising orfalling.

7.3 The risk of incurring losses äs a result of a stock exchangetransaction is considerable. This applies in particular toshort-term and speculative investments. As a result, onlyper so n s with the relevant knowledge and in due consider-ation of their financial circumstances should carry outstock exchange transactions via BaerOOnline. Wherestock exchange Orders are placed via Baer®0nline, theBank is unable to check whether the Investment is appro-priate for the client's risk profile. The account holder shallbear not only the sole and exclusive resppnsibility but alsothe consequences of Investment risks resulting from secu-rities selected by hlmself or by any other Authorised Userand expressly waives any clarification and/or risk analysisfrom the Bank.

7.4 The account holder and/or Authorised User confirm(s)having received and understood the brochure 'SpecialRisks in Securities Trading', which provides information onthe risk elements of particular Investment Instrumentsand Investment categories with increased risk potential or

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complex risk profiles. The account holder and/or Author-ised User declare(s) (hat he/they is/are familiär with thetypes of transaction described in the brochure and there-fore release(s) the Bank from any obligations to providehim/them with any additional Information.

8. Services of Thlrd-Party Providers

If access to Services of third parties is provided via theBaer®0nline portal, the corresponding conditions of use (in-cluding disclaimers, disclosure obligations, exclusions of liabil-ity. etc.) of these third-party providers shall, upon use of the rel-evant Service, be deerned to have been agreed äs legally bindingin füll on the account holder and/or the respective AuthorisedUser.

9. Duttes of Care

9.1 The Authorised User is obliged to keep his personal meansof authorisation (e.g. personal password, SecurID token,etc.) secret and to protect them against any misuse by un-authprised persons. The various different items of person-al means of authorisation must be kept separate from oneanother (e.g. password and SecurID token). The Bank shallnot be liable fpr any loss or damage resulting from any mis-use by unauthorised users. The Authorised User shall alsobe obliged to follow the Orders äs set out in the instruc-tions for the relevant Baer®0n|ine Service.

9.2 If any Authorised User suspects that an unauthorised par-ty has/could have knowledge of, or is/could be in posses-sion of the Authorised User's personal means of authorisa-tion, the Authorised User shall be obliged, whereverpossible {e.g. e-banking/CLX-Senünel) to block his ac-cess and notify the Bank hereof during normal businesshours and. if the account holder and the Authorised Userare not the same person. to notify the account holder im-mediately and confirm this in writing without delay. TheBank shall then arrangefor the personal means of authori-sation to be blpcked. The account holder shall be respon-sible fpr any resulting cpsts, loss or damage, including inpartic.ular those incurred prior to the blocking taking ef-fect within the usual period of time.

9.3 If any Authorised User suspects that an unauthorised par-ty has learned of the PIN/password, it must be changedimmediately by the Authorised User. Under no circum-stances should a response be sent to e-mails supposedlyoriginating from the Bank and requesting the disclosure ofpersonal means of authorisation. The Bank must be noti-fied without delay.

9.4 The Authorised User shall be responsible fpr minimisingthe security risks resulting from'his use of the Internet bytaking appropriate security measures (in particular pass-word protection, anti-virus programs, firewalls). In orderteprevent security risks, the Bank recommends that the Au-thorised User closes his BaerOOnline sesslon beforeclickingon external links.

9.5 The account holder shall be fully responsible for ensuringthat Authorised User to whom he has granted a power of

z attorney comply in füll with all of the aforementioned obli-S gations.

10. Excluslon of Uablllty

10.1 To the extent permltted by law, any liablllty on thepart of the Bank In connectlon with BaertBOnllne ser-vlces Is excluded.

10.2 The account holder is In particular responsible for anyrisks resulting from the disclosure and loss of his personalmeans of authorisation or that of other Authorised Users.The account holder is responsible for any consequencesresulting from the authorised use or misuse of thesemeans of authorisation.

10.3 The Bank shall not be liable for any loss or damage (includ-ing price losses) and/or any loss of profit incurred by anyAu-thorised User due to transmission and program errors,technical defects, line interruptions, delays, omissions, in-terruptions to operations, maintenance work, viruses, hack-ers, intrusions into the end user's equipment by unauthor-ised third parties, disruptions of any kind at the Bank orelsewhere, interventions by third parties in telecommunica-tions equipment or on the Internet, network overload, themalicious blocking of electronic access by third parties ordue to shortcomings on the part of the network operators.There isno representation or warranty that the Baer®0nlineServices will meet the requirements of the Authorised Us-ers, be uninterrupted timely, secure or error-free.

10.4 No guarantee, representation or warranty isgiven and noresponsibility or liability, contingent or otherwise is ac-cepted by the Bank in respect of the Authorised User'sequipment or äs to the accuracy, completeness or impar-tiality of the data accessible via Baer®Online or the deci-sions or actions taken by the Authorised User in relianceon the data accessible via Baer®0nline. Oelays, omis-sions or inaccuracies may occur in the case of Informationaccessible via Baer®0nline. Information and documentson the respective Baer®0nline website are made availa-ble to the Authorised User by the Bank exclusively for per-sonal use and for Information purposes. Amendments maybe made to any information or documents without priprnotification. The opinions expressed in these materials areexclusively those of the authors. Consequently, althoughthe Statements and comments reflect the current opinionsof the authors, they may nevertheless differfrom the opin-ions expressed by other units of the lulius Baer Group.Other units of the Julius Baer Group may in the past haveissued documents, or will issue documents in the future,which are not consistent with the information contained inthese materials and may lead to results which are differentto the information contained herein. The Bank is notobliged to send divergent publications of this kind to theAuthorised User.

In particular, all information relating tp accounts andcustody accounts (balances, Statements, transac-tlons, etc.) äs well äs generally accessible Informa-tion Is consldered to be provlslonal and non-blndlng.In the event of discrepancles between Statementsavallable through Baer®0nllne and the ordlnary ac-count and custody account Statements which aresent by the Bank to the account holder on a periodlcbasts, the latter, Including the reservatlons formu-lated thereln and In the Bank's General Terms andConditions and Special Provisions concernlng accu-racy and completeness, shall take precedence overdata recelved or available via Baer®0nline. The Au-thorised User Is advlsed to check the accuracy of thedata transmltted prlor to placlng Orders.

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11. Risks of Electronic Communlcatlon

11.1 The Authorised User is aware that risks are inherent in theuse of electronic means of communication. Despite theBank's security installations (e.g. SecurlO token, CLX-Sentinel, etc.), it must be borne in mind that the data istransferred via third-party telecpmmynications lines.

11.2 The use of electronic means of communication and the In-ternet carry the risk that transmissions may be incom-plete, inaccurate or delayed.

11.3 Although the data is transmitted securely, there is the riskthat third partles may access this encrypted data unno-ticed or may gain unnoticed access to the Authorised Us-er's equipment and the data stored (herein.

12. Blocklng of BaerOOnllna

12.1 The Authorised User expressly acknowledges that theBank shall be entitled to block access to individual or all ofthe Services accessible via Baer®0nline at any time, with-out stating its reaspns or without any pripr notice, or toInterrupt 8aer®0nline. The Bank shall not be liable for anyloss pr damage suffered äs a resutt of such action.

12.2 A blockage may be lifted upon written request. The liftingof the blockage shall be at the sole discretion of the Bank.

12.3 The Authorised User is entitled to erränge, of his own ac-cord, for access to Baer®0nline to be blocked at the of-fice notified by the Bank. The Authorised User bears therisk from ehe usage of the personal means of authorisationbefore the blockage tak.es effect within the customary pe-riod of time.

13. Power pf Attorney Proyislons

13.1 The power of attorney granted for the use of Baer®.0nüneby an Authorised User shall not expire upon the accounthplder's death, his being legally declared missing and pre-sumed dead or in the event of his incapacity to act or bank-ruptcy. The power of attorney for the use of BaerOOnlineshall remain valid towards the Bank until receipt by theBank of a written revocation.

13.2 The authorisation to use BaerOOnllne ehall also ter-rnlnate once any Bank form granting a certain power(e.g. the 'Pow.er pf Attorney', 'Third-Party Manage-ment Authorisation' or 'Information Authprlsatlon*)is revoke.d.

13.3 The account ho|der acknovyledges the risks and shalj as-sum.e liability in connection with the use of BaerOOnlineby his proxies.

14. Bank-Client Confldentlallty/Data Protectlon

H.1 Swiss law (e.g. concerning bank-client confidentiality, da-ta protection) applies solely to client data stored in Swit-zerland. The account holder acknowledges that Swiss lawapplies to data, including Computer data, which is storedin Switzerland.

14.2 The account holder acknowledges that, when using the In-ternet, client data may be transmitted uncontrolled across

international borders, even if bot h the sender and the re-cepient are located in Switzerland.

U.3 The account holder and the other Authorised Users are in-formed about the fact that the Internet is a public networkand that the identity of the account holder, the other Au-thorised Users and the Bank äs Internet users may nottherefore be kept secret. The network addresses of s.end-ers and recipients are transmitted on the Internet in anunencrypted form. It is therefore possible that third par-ties may conclude, on the basis of the exchange of databetween the account holder/Authorised User and theBank that a banking relationship exists.

14.4 In thls regard, the account holder releases the Bankfrom its duty to maintain bank-client confidentialityäs requlred In Switzerland and expressly approves infüll the respectlve transfer of data.

15. Reserved Legal Proyislons

15.1 Any statutpry provisions governing the Operation and useof the Internet remain reserved and also apply to the useof BaerOOnline from the time the provisions enter intoforce.

15.2 The Authorised User acknowledges that accessingBaer®0nline outside Switzerland he may violate the regu-lations under the respective local law. The Authorised Us-er is responsible for obtaining the relevant information.The Bank disclaims all liability in this regard.

15.3 If the Authorised User uses BaerfBOnline from abroad. heacknowledges that there may be import and export re?strictions for encryption algorithms which he may bebreaching.

15.4 Some of the financial Services offered to Authorised Usersoutside of Switzerland is subject to local legal restrictions.If the Bank does not have the necessary local permissionin the country in question, the access authorisation forBaerOOnline in the country concerned must be restrict-ed. These restrictions are subject to ongoing changes inglobal legal develqpments and/or each individual country.The Authorised User takes note of this and acknowledgesthat the Bank is entitled to amend or restrict the scope ofthe available Services at any lime - irrespective of any in-dividual arrangement and without any separate prior noti-fication.

16. Electronic Agreements(Electronically Displayed Legal Notices/Barriers)

16.1 The Authorised User expressly declares to have a goodcommand of the English language and that he understandsand complies with all of the notices appearing in this lan-guage when using Baer®0nline.

16.2 Data accessible via BaerOOnline shall not represent anybinding offer unless it is expressly identified äs such.

16.3 Certain information or material accessible to the Author-ised User via Baer®0nline are not intended for personsfrom certain countries, in particular the USA, UK, Canadaand Japan. These persons shall therefore be obliged to re-frain from accessing the corresponding data and to leaverelated Internet sites immediately. The Authorised User

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acknowledges that the Bank is obliged to attach legal no-tices/barriers to Information published electronically andto individual Services, due fi'rstly to market internationali-sation and secondly to the constant expansion of Servicesthat can be used with electronic tools. These notices/bar-riers shall be deemed to be legally binding on the Author-ised User vyhen displayed accordingly in the electronicmedium.

17. Automatic Recordlng of Conversatlons

The Authorlsed User acknowledges and agrees that hlstelephpne conversations with the Bank in connection withBaer®0nline may be recorded for monltorlng purposes.

18. Use for Marketing Purposes

The account holder shall agree that the Bank will process di-ent data for Group-internal marketing purposes. This may alsoinclude processing of data outside of Switzerland (e.g. if otherJulius Bae.r Group companies abroad are affected). He acknowl-edges that the Bank continually produces statistical evalutaionsof all activities on the web Server.

19. Amendments to the Baer®Onllne Provisions

The Bank reserves the right to amend these conditions, the con-tent of the Baer®Qnline Internet sites äs well äs the ränge ofServices offered at any time. The account holder and any au-thorised persons appointed by him shall be notified of suchamendments by means of circular letter or in another suitablemanner, most notably via BaerOOnline. These amendments areconsidered to be approved, unless the Bank receives a writtenobjectlon within no later than a month of thelr notification, how-ever in any case when the personal means of authorisation isnext used.

20. Termination/Revocationwith Immediate Effect

The respective contractual agreement regarding Baer®0nlineis va[id for an undetermined period of time and may be termi-

nated by all parties at any time In wrlting and with immedlateeffect without reasons being provided. Upon termination of thecorresponding agreement. the personal means of authorisation(in particular Hardware, e.g. the SecurlO token, CLX-Sentinel)must be returned immediately to the Bank. Oespite the termina-tion of the agreement, the Bank is still entitled, but not obliged,to process and make legally binding upon the account holder alltransactions initiated prior to the return of the personal meansof security.

21. Entry Into Force/Partlal Invalldity/Interpretation Drfficulties

21.1 These conditions shall enter into force when the corre-sponding Baer®0nline application is signed by the ac-count holder and/or the Authorised User.

21.2 If individual provisions of the contractual agreements re-garding Baer®0nline are incomplete, legally ineffective orunenforceable for legal reasons, the validity of the rest ofthe agreement shall not be affected. In this instance, thecontracting parties shall form an agreement replacing theprovisions concerned with a valid Provision, the effect ofwhich is äs close äs possible to the commercial effect in-tended by the parties.

22. Appllcaple Law and Vertue for Legal Proceedings

All of the account holder's legal relatlons In connectionwith Baer®Onllne Services shajl be governed by and con-strued In accordance with Swlss law. The Bank's domlclleIn

i!>gf)AL?i3t shall serve äs the place ofPerformance andplace of .debt enforcement for accountholders residlng abroad, äs well äs the exclusive placeof lurlsdiction for all proceedings. Notwlthstanding theforegolng, the Bank shall have the rlght to refer any Claimagalnst the account holder to any court havlng jurisdic-tlon In the account holder's place of residence, any oth-er court of competent jurlsdictlon, or permjtted place ofdebt enforcement.

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Clients avec domicile hprs de Suisse

Denomination du compte / depöt

CHELFORD PRQMOTIONS S.A.Titulaire(s) du compte


Numero de compte / döpöt

0303.6331

La banque qui tient le cpmpte est la Banque Julius Baer & Cie SA, succursale de Geneve.

Par la präsente, le titulaire du compte döclare avpir pris lui-meme ('initiative de signer ce contrat et pris contact avec la Banque encons^quence. Le Client informe en meme temps la Banque qu'il souhaite. pendant toute la dur6e de la relation contractuelle, qu'ellele Cpntacte au sujet d'autres produits et Services pouvant le concerner, que ceux-ci soient nouveaux ou aient dejä existe au momentde la conclusion du contrat. Le cllent se d^clare expreasöment d'accord que toutes les relatlons jurldlques entre lui etla Banque soient soumlses au drolt suisse et qu» l« for pour toutes les procödures se trouve au domicile de la Banqueflgurant el-dessus.

Lieu, date Signature(s) du (HPS) mniairp^rin compte

v cft-

°S BANQUE JULIUS BAER & CIE SA l/t

MPC1 20151015 004 0071 F

0 3 0 3 6 3 9 5

Julius Bär

Conventlon ppur le courrier retenu par la banque

Denomination dj compte/depöt Numero de compte/de'pöt

0303.6395CHELFORD PROMOTIONS S.A.

1. Courrier retenu par la banque

Par la präsente, le Client dpnne instruction & la banque de d6po-ser et de. conserver, dans un dossi.er qu'elle amenage et qu'eileadministre ppur le compte d6sign6 ci-dessus, toutes les Commu-nications de la banque qui lui sont destinees (lettres, avis d'exe-cution, releyes de compte et de d6pöt, decomptes. etc.) a laplace de les envoyer par la posle.

Par ailleurs. la banque est autorisee, mais non pas tenue, aaccepter et ä döposer exclusivement dans le dossier tcourrierretenu par la banquet - meme s'il a 6te ouvert par eile - lacorrespondance eventuelle qui lui est adressee par des tiers äl'attention du client, ou adressäe a elle-meme mais destinee auclient. Dans ce contexte, la banque est expressement dispen-see d'entreprendre tpute action supple'mentäire. La banque atoutefois le dro.it de refuser d'accepter ce genre de corresfjon-dance et de la renvpyer ä spn expediteur.

2. Reconnalssance de la dölivrance

Le client r.ecpnnait que les Communications de la banque d£po-sees dans ce dossier ont et£ delivr^es en bonne et due forme.En l'absence d'une remarque speciale, la delivrance est consi-der6e comme effectuee ä la date mentionnöe sur le documentbancaire concerne.

3. Envols de documents dans le cas d'espece

Si, ä 1'encpntre de cette conyentio.n, le client d§sire que certainsdocuments ne soi.ent pas ve/s6s dansje dossier tcourrier retenupar la bao.quei. mais qu'ils soient exceptionnellement envoy^sä une adresse qu'il aura specifiäe, il doit le demander expres.-s^ment.

Lieu, date

4. Curie de conservatlon

Le client autorise la banque a examlner reguliferement le dossiericourrier retenu par la banquei et ä detruire les Communicationsde la banque et la correspondance Eventuelle envoy£e par untiers ä l'attention du client qui datent de plus de cinq (5) ans.

5. Consultation du dossieracourrler retenu par la banque»

La banque tient ä disposition du client le dossier icourrier retenupar la banquei afin que le client puisse le consulter en tout temps.

Sur ordre expres du client, le dossier peut aussi etre expädiä äune adresse späcifiee par le client.

6. Comrnissiqns

La banque est autorisäe ä perceypir une commission ppur säprestation de Service.

7. Responsabiltti

Le client prend note que ce Systeme de <courrier retenu par labanquei des Communications qui lui sont destinees, comportec.ertains inconvgnients. Le client confirme avolr connaissancede ces inconvenients et declare supporter toutes les conse-quences qui peuvent en decouler.

La banque decline tpute responsabilite quant aux conse.quenrces decoulant de la conservation des Communications et de lacorrespondance adressees au client, effectuee par ses soins.mais ä la demande du client.

SlRnaiure(s) du (des) titulaire(s) du compte

S BANQUE JULIUS BAER & CIE SA l/l

MPC1_20151015_004_0072_F•traftf+* -rir WA—

3 9Julius Bär

Conditions r6glssant les Instruments financiers de»v6s

Denomination du compte/depöt


Numero de compte/de'pöt

0303.6395

Les Instruments financiers de'five's - contrats ä terme, options ou produits structure's - sont aujourd'hui iricontournables dans ledomaine de la gestion de förtune. Ils permetteht de restructurer les portefeuilles de facon plus rapide et plus öconornique quepar l'achat ou la vente des sous-jacents corresporidants. Les cöuvertures de cours se fönt tres souvent au möyen d'operationsfinancieres ä terme. Mais ces dernieres permettent aussi de r£orienter tres efficacemerit üne politique de placement sur certainsma'rches. certains secteurs ou certaines categories d'inve'stissements. Les Instruments financiers de'rive's präsenten! toutefoisdes caracteristiques ä prendre en corhpte dans le cadre des operations de placement. Le preseht formulaire expose eh detail lemode de fönctionn'ement et les conse'quences financieres potentielles des opeVatiöns sur instrumerits financiers de'rive's. Pöur ensavoir plus, veuillez consulter la brochure iRisques particuliers dans le comrnerce de titresi.

1. Objet

La banque effectue pour le compte et aux risques et pärils duClient les operations ä terme et sur options suivantes sur lesprincipales bourses officielles. mais aussi a l'avant-bourse ethors-bourse:

- Les öperatlohs ä terme: Forwards (operations ä termehors bourse, noh standardisees) et Futures (operations äterme traitöes en bourse, standardisees) sur des valeurspatrirhöniales comme les actions. les Obligations, les riie-taux präcieux, les matieres premieres, etc. ou des valeursde r£ference comme les devises, les taux, les indices, etc.

- Les op6ratlons d'options: les options mate'rialise'es dansun titre (Warrants ou certificats d'option) traitees en bourseou hors bourse, les options non materialisees dans un titre(Traded Options standardisees et traitees en bourse ou op-tions Over-the-Counter (options OTC| avec specificationscontractuelles individuelles, toujours traitöes hors bourse)sur des valeurs patrimoniales comme les actions, les obliga-tioris, les metaux precieux, les matieres premieres, etc. oudes valeurs de reference comme les devises, les taux, lesindices, etc.

- Les aütres Instruments financiers de'rlves: la cömbinai-son d'options et d'operations ä terme, tous genres d'öpära-tions de Swaps, les certificats sur une ou plusieurs valeursde bäse ainsi que les produits structures et les aütres in's-truments financiers deriv£s en tous genres.

2. Ordres

La banque n'effectue ces transactions que sur la base d'ordresspecifiques du client ou dans le cadre d'un mandat de gestionde förtune, bien qu'en divergence des Directives concernant lemandat de gestion de förtune de l'Association suisse des ban-quiers. La banque ex6cute les operations par l'intermödiaire ducourtier de son choix.

3. Commlsstons, taxes et Inipöts

La banque 'debite au client l'ense'mble des commissiöns, ta'xeset impöts dont eile doit s'acquitter pour ces operations. En cequi cöncerne les operations nettes, les commissiöns pour lesprestations de Services de la banque cohstituent une partie ducours applique par celle-ci et sont, de ce fait, comprises dans leprix de la tfansäction.

4. Marges/obllgations du client d'effectuer desversements complementaires

Le client reconnalt express^ment que l'ensemble de ses valeurspatrimoniales est nanti en faveur de la banque en tant que cou-verture pour les transactions effectuees.

Les marges minimales sont fixees par les bourses ou la banqueet fönt l'objet d'adaptations periodiques selon la Situation dumarchö (p.ex. augmentation de la marge eh cas de fluctuationsimportantes des cours). Tant qu'une position reste ouverte, lamarge minimale doit etre couverte par des avoirs en compteou par une limite de cre'dit. Les achats d'options ne sont passoumis ä des exigences de marge.

Les pertes enregistr6es doivent etre couvertes par le depöt demarge. Lorsque la marge est insuffisante, le client est obligöd'imm6diatement recönstituer la marge; il est oblige d'effec-tuer un versemeht complementaire de marge (margin call).La banque a le droit, mais pas l'obligation. de sommer le clientd'effectuer des versements cömplementaires. La sommationpeut etre adressee au client mais aussi au mandataire, qui, parla presente, est expressäment autorise par le client ä accepterune teile sommation.

5. Liquidation de contrats

La banque est en droit de liquider imme'diatement une positionouverte si le client n'effectue pas les versements complemen-taires näcessaires des que la marge minimale est de'pässe'eet/ou si les garanties fournies ont perdu de leur väleur. Saufinstructions contraires de la part du client au plus tard cinqjours ouvrables avant la date de la livraison (ifirst notice dayi),

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les contrats sont liquides ä cette date. Cette regle s'appliqueaux conditions portant sur une livräison physique. En revan-che. lorsqu'il s'agit de contrats comportant un reglement enespeces, les positions peuveht etre maintenues jusqu'ä la dated'echgance.

6. Levöe du secret bancalre

Le titulaire a pris connaissance du fait que la banque est tenue,en vertu du droit americain, de communiquer ä la CommodityFutures Trading Commission (CFTC) ainsi qu'ä la Securities andExchange Commission (SEC), ä la demande de celles-ci, tousles details, et en particulier le nom du donneur d'ordre, relatifsaux operations ä terme traitees aux Etats-Unis. Le Client auto-rise expressäment la banque ä fourhir de tels renseignementset lä delie ä cet effet du secret bahcaire.

ll en va de meme pour les Etats qui ont une legislation analogue.

7. Rlsques (arisk disclosure Statement»)

Les Instruments financiers dirive's comportent des rls-ques de pertes considärables. C'est pourquol, seuls lesClients dlsposant des connaissances necessaires et d'uneSituation flnanclere saine devraleht s'engager sur cesmarchäs. Avant d'entreprendre de telles operations, le clientdoit avoir ä l'esprit les points suivants:

a) Le client est conscient que. dans le pire des cas, il ne perdrapas seulement la marge initiale, mais egalemcnt les verse-ments complementaires qu'il aura effectues. Si un contratdoit etre liquid^ ä perte ou ne peut etre liquide en raisondes conditions du marche, le client sera en plus tenu desupporter les pertes correspondantes. Pour garantir cesobligations du client, la banque detient en nantissementtous les avoirs de celui-ci d^poses chez eile.

b) Dans certaines configurations du marche, il peut etre diffi-cile, voire impossible, de liquider des positions.

Lieu, date

-cv? -Le conseiller ä la clientele

c) Le placement d'ordres istop lossi, ou d'ordres «stop limiti,ne garantit pas que la position soit liquidee ävec une perted£termin£e et que le risque soit ainsi limite. Des conditionsextraordinaires rögnant sur le marchö peuvent rendre im-possible l'execution de tels ordres.

d) Une position ispreadt ne represente pas forcernent un ris-que inferieur ä celui d'une position longue ou d'une positioncourte normale.

e) La marge initiale requise sur le marchä des iFuturesi estrelativement faible par rapport ä la contre-valeur des con-trats. L'exploitation de l'effet de levier peut coriduire nonseulement ä de substantiels benefices, mais egalement ädes pertes importantes.

En ce qui concerhe les risque's des opörätlohs dont lepotantlel de risque ou dont la structure falt courir plusde risqües que les opirattons tradltionnelles d'achat, devente ou de conservatlon de valeurs, II exlste une bro-chure d'information Intitulee «Risqües partlcüliers dansle commerce de tJtres». Le client cönfirrh'e avoir recu unexemplaire de cette broch'ure.

8. Oispositions complementaires pour les operations debourse

Pour les ordres en bourse s'ap'pliquent egalement. outre lesconditions regissant les Instruments financiers derives et lesautres contrats entre Clients et banque, les reglernentationsdes bourses suisses et etrangeres correspondantes (p.ex.: lesspecificites contractüelles decrites dans les brochures editeespar ces bourses, etc.).

9. Generalites

Les Conditions generales de la banque, ainsi que l'Acte de nan-tissement ge"neVal, s'appliquent dans la mesure oü des disposi-tions divergentes ne ressortent pas de cette convention.

Signature(s) du (des) titülaire(s) du corrjpte

iäladln0588053386

\ S.

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Julius Bär

Placements alternatifs

Designation du compte/depöt


Numero de compte/d6pöt

0303.6395

Eh signant la presehte Convention, le Client, qui souhaite investir dans des placements alternatifs au norh de lä Banque Julius Bäer& Cie SA (la iBahque»), autörise cette derniere ä effectuer de tels placements au nom de la Banque, mais pour soh compte et äses propres risques. Les placements alternatifs prisenterit des risques 6lev£s. Toutes les döcisions de placement sönt prises parle Client qui en assume la responsabilite pleine et entiere. La Banque he se prononce ni sur les aspects juridique's ou fiscaux desplacements, ni sur leur opportunite; eile rie fait en la matiere aucune recommändation. Le Client est invite ä consulter la brochufeiRisques particuliers inheVents aux operations sur valeürs mobilieres», publiee par l'Assöciatioh suisse des banquiers, qui contientdes informations compterhentaires sur les placements alternatifs.

1. Catägories de placements alternatifs

Le Client est informe du fäit qu'uhe definition exhaustive de lanotion de iplacements alternatifsi est impossible ä donner. Ladefinition gönerale ci-apres est purement illustrative. On entendgeneralerhent par iplacements alternatifsi des placements quine soht pas effectues dans des Instruments traditionnels du ty-pe actions et obligations. II s'agit notamment, mais non exclusi-ve'ment, de placements dans des fonds non traditionnels (ci-apres «Non-Traditional Funds») et de placements en titresnon cotös (ci-apres «Private Equity»). Les placements alter-natifs presentant souvent une faible correlätion avec les mar-ches traditionnels des actions et des obligations. ils peuveht of-frir des avantages en termes de diversification du portefeuille.

Les Non-Traditional Funds (doht fönt pärtie les hedge fündstels que hedge funds single manager ou multi manager, fonds dehedge funds, fonds domicilies dans des pays offshore et autresfonds presentant des risques de marche et/ou risques opera-tionnels particuliers) sont des structures de gestion de patrimoi-ne organisees en societe ou sous une forme analogue ä celled'un fonds de placement, qui sont constituees par differents in-vestisseurs regroupes ä cet effet. L'objectif des Non-TraditionalFunds est de realiser des performances aussi elevees que pos-sible, ce qui impose parfois de prendre de tres gros risques et,souvent, de s'attacher peu au rapport risque/rendement. Pöuratteindre leur öbjectif de placement, ces fonds peuvent ache-ter les Instruments financiers et de placement de leur chöix - ycompris ceux ä fort effet de levier -, les vendre avec ou sansPosition (ventes dites ä decouvert). les preter et les emprunter,accepter des fonds de tiers, naritir des actifs ou en transförerla propri£t£ ä titre de sflrete. etc. Les Non-Traditional Funds in-vestissent souvent leurs actifs non seulement sur des marche setablis, mais aussi sur des marches emergents. La remunera-tion des gestionnaires de Non-Traditional Funds est avant toutproportionnelle au rendement absolu d6gag£. Souvent, le ges-tionnaire detient egalement une participation financiere subs-tantielle dans les fonds qu'il gere.

On entend par «Private Equity» ün capital-risque mis ä la dis-position d'entreprises non cotees en Bourse ou dont les partsne se negocient sur aucun autre marchä secondaire officiel. Lefinancement par private equity se fait notamment sous la formede venture capital (participation au capital de depart ou au capi-tal de croissance) et de management buy-outs/buy ins (acqui-sition/cessioh de parts sociales en cas de spin-offs de groupes,de successions d'entreprises, de changements au niveau de ladirection). Dans le cadre de la präsente Convention, on entendnotamment par iplacements en Private Equityi des participa-tions dans des sociötes/fonds de personnes (comme les limi-

ted liability partnerships) - qui a leur töur prennent des parti-cipätioris dans des entreprises - äinsi que des investissemeritsdans des soci^tes/fonds de participation - structures de typefonds de fonds qui ne prennent pas de participations dans dessocietgs non cotSes. Ne sont toütefois pas consideres commedes iplacements en Private Equity« les investissements directsdans des entreprises.

2. Risques Ms aux placements alternatifs

Les operatiöns de placement alternatif presenteht en geriefaldes risques eleves. Les risques lies ä certains placements alter-natifs specifiques (notamment les Non-Traditional Funds) sontdeveloppes dans la brochure i Risques particuliers inherents auxoperations sur valeürs mobilieresi de l'Association suisse desbanquiers, ä laquelle il est ici renvoye. Cette brochure decritegalement les risques considerables lies aux placements surdes marchös 6mergent8, lesquels sont pour pärtie des place-ments alternatifs.

De maniere generale, les placements alternatifs sont haute-ment späcülatifs, et l'lnvestisseur court le risque de pe'r-dre la totallt6 du capital investi. L'opportunite d'effectuerdes placements alternatifs depend essentiellerhent de la cons-titution globale du portefeuille, de l'horizon de placement et dela capacite de risque du Client. Avant toute prise de decision,il appartient äu Client de se renseigner tres precisement sur leproduit envisagä et de n'effectuer aucun placement sur la seulebase de lä brochure decrivant ce dernier. car les placementsalternatifs presentent des risques specifiques. Les informationsdetaillees que les Clients devraient cön'naitre avant toute Ope-ration figurent dans les contrats de souscription, prospectuset autres documents juridiques pertinents (ci-apres les iDocu-mentsi) annexes au produit concernö.

Pöur certains placements alternatifs, l'utilisation d'instrumehtsfinanciers deViväs et le fait d'accepter des fonds de tiers peu-vent creer des effets de levier considerables. Des lors, memede faibles fluctuations du marche toucha'nt un ou plusieurs Ins-truments financiers ou de placement peuvent ehtrainer la perteintegrale de la fortune du fonds.

La negociabilite des placements alternatifs peut etre tres för-tement restreinte. Les placements alternatifs ne sont souvente"mis ou rachetäs que p^riodiquement, par exemple trimestriel-lement ou semestriellement; dans certains cas, des delais fixesde detention sont prevus, qui peuvent meme aller jusqu'ä plu-sieurs annees. Les Clients souhaitant vendre un placement al-ternatif doit donc, en l'absence de marche, troüver un acque-

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reur. En outre, il arrive que la transferabilite des placemehtsaliernatifs soit soumise ä de nombreuses restrictions. Les pla-cements alternatifs sont donc g6ne>alement r£püt6s nonliquides et ne devraient etre pris en consideVation quedans le cadre d'investissements ä long terme.

Le Client sait et accepte que certains placements alternatifsdonnern lieu ä des distributions en nature et non en especes.Les placements alternatifs etant göneralement effectues dansdes pays offshore, oü les systemes juridique et de surveillancepeuvent s'averer moins avanc£s. il faut tenir compte de certainsrisques-pays ainsi que des risques räsultant des 6carts entre lessystemes juridiques. Les placements alternatifs sont souventdes placements internationaux, soumis ä ce titre ä des risquesde c~hänge.

En raison de la nature meme des placements alternatifs, l'6va-luation du placement (valeur intrinseque, Net Asset Vä-lue ou NAV) peut diffe>er de la valeur de marche' et, danscertains cas, manquer de transparence voire s'avörer im-possible.

3. Responsabilite' du Client

Le Client certifie par les presentes qu'il a connaissance des ris-ques eleves lies aux placements alternatifs et qu'il assume ren-tiere responsabilite des d£cisions de placement prises par lui.Le Client älteste, en outre, avoir lu et compris la brochure iRis-ques particuliers inherents aux operations sur valeurs fnobilie-rest. Le Client degage la Banque de toute Obligation de l'infor-mer plus avant sur les risques lies aux placements alternatifs.Le Client confirme prendre lui-meme toutes les döclsions deplacement sur la base de sä propre appröciatlon du pla-cement alternatif ainsi que des conditiöns et eYolutionsdes marche's finahciers concerne's. Le Client assume laresponsabilite pleine et entlere de ses döcisions de pla-cement. II est seul responsable de la s£lection et de l'6va-luation des placements alternatifs dans lesquels il choisitd'investir. Par les präsentes, le Client dögage la Banque detöute Obligation de surveillance de ses placements alter-natifs et de toute responsabilite en la matiere. II reconnaitque la Banque ne saurait en aucun cas etre tenue pourresponsable des performänces röalisöes par les place-ments alternatifs qu'il a lui-me'me selectionnes.

Le Client est informe du fait que, pour certains types de pla-cements alternatifs, il doit s'engager ä mettre un montantdonn£ ä disposition, des la signature des Oocuments, le paie-ment du montant total de l'investissement n'etant pas du desladite signature. Le montant total que le Client reconnait devoirpayer peut, sur une duree determinee, etre appelö par les per-sonnes et societes concernees par ses placements alternatifs.Le Client s'oblige en consequence ä tenir ä disposition, pen-dant toute la duree de ses placements alternatifs, la totälite' dumontant convenu.

4. Conseil

La Banque ne se prononce ni sur les aspects juridiques et lis-caux des placements alternatifs, ni sur leur opportunite; eile nedonne en la matiere aucune recommandation. II appartient doncau Client de s'adresser ä ses propres conseillers spöcialisös.

5. Pouvoir de repräsentation

Par les präsentes, le Client donne expressäment pouvoir et ins-truction ä la Banque de souscrire en son nom des placementsalternatifs et de signer au nom de la Banque, mals pour soncompte et a ses propres risques, les Documents y relatifs, ycompris les clauses de transfert de responsabilite et de risquequi y figurent, meme si celles-ci sont restrictives et unilaterales;il donne aussi expressement pouvoir et instruction ä la Banquede conserver en d6pöt les placements ainsi souscrits. Le Clients'engage ä rembourser ä la Banque, au vu des Documents si-gnes par eile, tous les frais et d§bours occasionnes par ses pla-cements alternatifs. Tous les frais et debours ä rembourser ä laBanque sont däbites directement du compte du Client.

6. Informatlons concernant le placementalternatif sp6cifique

La Banque recommande expressement au Client de n'ef-fectuer aucun placement alternatif sans avoir lü les Do-cuments y relatifs et compris en detail les sp'öcificitlsdu placement conside're'. Les Documents coritienneht no-tamment des informatlons et mises en garde particulie-res concernant le risque, ainsi que cert'aines garanties. LeClient se döclare prgt a solliciter ces Documents äüpfesde l'emetteur du placement alternatif envisagö. II d6gagelä Banque de toute Obligation de l'ihformer de la disponi-bilite desdits Documents et accepte que lä Banque ne leslui fasse parvenir, des lors qu'ils sont disponibles, qu'ä sädemande expresse.

Le Client est infornie' du fait que la Banque n'est pas tenuede lui faire parvenir les modifications des Documents oules Communications qu'elle a re^ues de l'örrietteur du pla-cement alternatif; däns certains cas, cela est me'me inter-dit ä la Banque par les lols et prescriptions en vigüeur.

7. Garanties, confirmations

La Banque part du principe que le Client connait le contehudes Documents, et le Client confirme et assure qu'il res-pecte et respectera tous les engagemehts, conventionset garanties figurant dans lesdits Documents comme s'illes avait lui-meme signe's.

Le Client s'engage ä confirmer rägulierement ä la Banquele respect de ces prescriptions, des lors que la Banqueet/ou l'ehietteur d'un placement alternatif le lui deman-dent. En outre, sl le Client venait ä ne plus respecter lesprescriptions figurant dans les Documents, II s'engageä en informer la Banque sans d£lai. Le Client reconnaitqu'en cas d'informations incompletes ou erronees don-nöes par lui däns le cadre des prescriptions precitöes,l'emetteur cöncernö peut refuser la souscription d'un pla-cement, ordonner la restitution du placement et/ou pren-dre d'autres mesures qui, le cas öcheant, sont pr6cis6esdans les Documents.

Le Client reconnait que l'evaluation des placements alternatifsconserves dans son däpöt correspond normälement ä l'evalua-tion communiquee ä la Banque par les personnes et societesconcernees par lesdits placements alternatifs. Lä Banque n'esten mesure ni de verifier cette evaluation ni, dans certains cas,de la rectifier.

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Par ailleurs, le Client accepte que l'ensemble des Communica-tions concernant ses placements alternatifs, y compris la trans-mission des instructions requises, intervienne ä ('initiative dela seule Banque, celle-ci pouvant donner des instructions se-lon sä libre appröciation. La Banque n'est pas tenue de prendreconnaissance des Communications de l'6'metteur du placementalternatif ou d'agir conformement ä ces Communications.

8. Excluslon de garantie, limitations de responsabllite'

S'agissant du choix et de 1'eValuation d'un placement ät-ternatif que le Client söuhalte effectuer, la Banque nesaurait ßtre tenue pour responsable envers le Client desdommages de toute nature et notamment, mais höh ex-clusivement, des pertes de gains, de capital d'öpargne etde revenüs, que ces dommages resültent d'un acte frau-duleux, d'un contrat ou d'autre's causes de responsabili-t6. La Banque ne saurait etre tenue pour responsable desdommages de toute nature, des cröahces, prötentions,pertes, coüts et däbours occasionnes au Client par sonmanquement ä lire les Documents, ä s'enqu6rir aupres delä Banque de la dispönibilitö desdits Documents ou a lesderivarider ä l'£metteur du placement alternatif concerne'.

Le Client reconnait expressement que ses döclslons deplacement, ainsi que les consequences en resultant, nesauraient engager la responsabilltö de la Banque. La Ban-que döcline toute responsabilitö qüant aux dommages oc-casionnes au Client en raison de's actes effectue's ou noneffectue's par la Banque en sä qualitö de reprösentantedu Client.

9. Deklaration afferente au Statut de «Non-U.S. Person»

Le Client deciare et garantit ä la Banque, ainsi qu'aux per-sonnes et societes concernees par ses placements alter-natifs, que lui-meme ou l'ayant droit Iconomique sur lecompte/depöt n'est pas repute etre une «U.S. Person».Sont. notamment reputees Stre des iD.S. Personsi:- les personnes physiques de nationalite americaine ou qui

ont elu domicile ou sejournent aux Etats-Unis ou dans desterritoires ou dependances amöricaihs;

- les societes de capitaux. societes de personnes ou autresstructures juridiques constituees ou organisäes conform£-ment au droit ame>icain ou au droit de territoires ou depen-dances americains;

- les trusts dont le trustee et les beneficiaires sont des lU.S.Persons«;

- les successions dont les executeurs testamentaires, les ad-ministrateurs ou les ayants droit sont des «U.S. Personsi;

- les representations ou succursales d'entreprises £trangeresdont le siege social se situe aux Etats-Unis ou dans des ter-ritoires ou dependances americains.

Lieü. date

Des lors que le Client ou l'ayant droit sur le compte/depöt n'estpas clairement repute §tre une iNon-U.S. Personi, le Client esttenu d'en informer pröalablement la Banque ainsi que les per-sonnes et societes concernees par ses placements alternatifset de vgrifier que le placement envisage est autorise.

10. Clause d'exoneration de responsabilitöet d'lndemnisatlon

Pour toutes pretentions et poürsuites en justice, tousfrais (y compris frais d'enquete, honoraires d'avocat etfrais de justice en relation avec des procldures judiciai-res) et/oü toutes cröahces, quelle qu'eh soit la nature, quiseraient räclame's ou fofmulös ä la Banque en raison desactes effectues pour le Client, ce dernier s'engage ä dega-ger de toute responsabllitö et a Indemniser tan t la Banqueque l'ensemble des personnes et socie'te's concernees parses placements alternatifs, ainsi que toutes les person-nes qui leur sont liees. En outre, le Client accepte de dega-ger de toute responsabllite et d'indemniser tant la Banqueque toutes les personnes et societes concernees par sesplacements alternatifs, ainsi que toutes les personnes quileur sont I16es, pour toutes crlances, pertes et domma-ges subis par elles en raison de garanties et declarationsdu Client impräcises, incompletes ou omises, ou en rai-son de la violation ou du non respect de prescriptions le-gales affeVentes aux placements alternatifs du Client.

11. Capacite/incapacite civlle

Le Client confirme qu'il dispose de la capacite civile et des com-petences legales requises pour effectuer les placements alter-natifs concernes.

En cas de deces ou d'incapacite civile du Client, la presenteConvention demeure en vigueur et la Banque continue de faireOffice de signataire du placement alternatif.

12. Droit applicable, for

Les relations juridiques entre le Client et lä Banque sont regiespar le droit sulsse. Le lieu d'exe'cution, le for de poursuite pourles Clients ayant leur siege social ou leur domicile ä l'etranger,ainsi que le for exclusif pour tout differend eventuel decoulantde la präsente Convention, ainsi que des operatioris effectüeesen vertu de celui-ci est Geneve.

La Banque a toutefois le droit d'assigher le Client devant le tri-bunal competent de son domicile/siege ou devant tout autretribunal ou for de poursuite compgtent.

Signature(s) du/des titulaire(s) du coropte

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Julius Bär

Client Profile: Individuais(Client Independent Asset Manager)

Contents

1 Basic Information

2 Economic background of the account holder

3 Economic background of the beneficial owner

2

6

8

Place, date Independent Asset Manager (stärnp and signature)

Plece, date Relatlonshlp Manager Bank Julius Baer (stamp and signature)

Andreas Saladln0588653386

IS

This registration form m combmation with the account opehinjg fomis is used by l he Independent AssefMänäger for the purpose öfcollecling the information required in order to open an account ät Julius' Baerdurjhg (ace-to-face meetings with Clients (interviewguidelines). The form is not given to Clients and specifically covers the'following äreas: :- Compliance with the Swiss Money laundering Act, Money laundering Ordinance, and Agreement ön the Swiss Banks' Code of

Conduct with Regard to the Exercise of Du'e Diligence ("CDB") ' • • • .'- Administrative information required in ordcr to open the account (Operations)

The-following information forms the basis for the client relationship and for entering data into the System (COS). It-is therefore ab-splutely e.ssential to ensure th>t the information obtained is accurate and complete. Compulsoiy ffelds are Indlcated In boldHowever.it is-also.highjy'a'dvisable to complete the other fields to avoid generating extra'work: The q'uestionnaire Covers röutinecases, although it is also-possible to enter special cases into the System.

BANK JULIUS BAER S CO. LTD.

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1 Basic Information

Information required in Order to opon a ZR

ZRtypo n Client name S Client number D.

Ü Client number plus pseudonym D External-external client (ext. discretionary rhandate)

Pseudonym :

(only if ZR type is "Client number plus pseudonym" and after Consulting the client advisör of Bank Julius Baer)

Jolnt account DYes BNo

If the answer is "Yes", the chapter "Economic background of the account holder" liasi tö be filled in for each account holder.

Assets under Management (S'ize > CHF 50 Mio.)

Does the client Intend to bring more thah CHF SO mllllon (ör equivalent value In forelgn currency) to the Julius BaerGroup?

DYcs S No

If the answer is "Yos", pfease comment _ _

Contractlng partner/aceount holder 1

Form of address SP Mr D Ms

Title DDr. DProfessor D _

Surname Maiden name

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_A^-i-S.i_öNatiönality/ies " ' ~~

In the.case of several nationalities all must be indicated.(please undertine ZR-relevant nationality; only one possible)

Surname and given name(s) of spouse/partner Däte of birth

Nationatity/ies Country of domicile

Number of childreh C l Child l Child 2 Child 3

Surname/given name(s)

Dateof birth

Nationality/ies

Country of domicile

D Reminder: copy of passport/ID (check valldlty)

2/9

.MPC1 20151015 004 0079 F

0 3 0 3 6 3 > 5

Does the account holder hold any prominent public Office (e.g. head of state or government; senior politlcian; high-ran-klng offlclal In the public administratlon, thejudlclary, the arrried forces or a political party; senior executive off leer ofa state-owned enterprlse of national Importance)? Or does the account holder have a close famlly, personal or buslnessrelatlonshlp wlth any such person?

DYes ÖfNo

If the answer is "Yes", please comrhent _ . . _.

(Which public Office in which country and in which goverrimentarjhstitutioh.)

Does any person llkely to be involved in the client relatiönshlp (e.g. beneflclal owner, äuthorlzed person) or anyo'ne closeto them (family, personal or businees relatlonship) hold any such office?

DYes ÜB No

If the answer is "Yes", please commcnt... ._ ,

.(Which public öffice'in which country and In which governmehtal Institution.)

Is the account holder a prominent person {e.g. frorn the world of buslness, film, muslc or sport) wlth a public pfb'file.

DYes S No

If the answer is "Yes", please comment _

(Which public Position in which country or'in which Company.)

Does any person llkely to be Involved In the client relatlonshlp (e.g. beneflclal owner, äuthorlzed person) or anyone closeto them (famlly, personal or buslness relatlonshlp) hold any such office?

DYes S& NO

If the answer is "Yes", please comment ._ _

(Which public position in which counlry or in which Company.)

3/9

MPC1 20151015 004 0080 F

0 3 0 3 6 3 S

2 Economic background of the account holder

In the casc of a joint account the following part must be filled In for each account holder separately.

Occupatlon/professlon/buslness

The relevant field must be ticked and the respeciive delails have lo be colle'cled arid recorded-where po'ssible. The dätä must re-ler lo the current employment. If the account holder is working on a:freelan'ce basis or is employed. the questions referring to thenature of ihe business and the country in which the business Is carried.oüt must be answered.

Professional Status

O Self-employed

- Business name

- Self-employed since (year)

- Number of employees

- Turnover in CHF (p.a).

C8 Employed

- Employer ILÖJ

-Position/Status

_ D Retlred

D Currently not employed

Jt^L—

Nature of buslness/area of actlvlty/sector (several types possible)

T p<u>Country in whlch business Is carried on (several countries possible)

From what source are the assets to be Ihvestod at Julius Baer derlved (orlgln of wealth)?

The relevant field must be ticked and the respective delails have to be.collecled a'nd re'corded where p.'ossibie/

DGift/inheritance (S Savings/salary D Investment incdme

D Säle of property D Säle of business/company DOther

Further Information äbout the origin of the assetsw £ cu&i-»7 TA*IC/,*.-U,

f Ot^j n \ :,j £flri,H tu. L _ » /

i.A. K

p yClient's estimated total assets in CHF (bankable assets)

'i$V. /Itfli « « t q r C

M+o &&<>• gfeccrcn-ou OVlHr(Source of Information)

v-r T i*. ct.X •/<*» rt r/»«ii-t«t/ - Ci»t«.*«frw» v>O j.S <

Z o^o t ? /a.-^j ozAdditional Information (about income, real estate ownership, new asset potential)

^(y y * o '/

s o t-<Vi r *>

6/9

.MPC1 20151015 004 0081 F

0 3 0 3 6 3 9

Projected amoünt to be Invested at Julius Baer (on openlng the account arid over the lohgar term)

.J /..fc_ _?V^?.y. ..CHFon opening the account .....

- Method by which the initial sum will be transferred

. CHF over the löriger term until ...... (year)

D jf^LS __ O£U£/OJ.T __ s y.i.Ol.£.._.-4 <Kk- Sender of initial sum [e.g. bank)

) r- Country (domicile) of sender

- Reason for ass'et transfer to Julius Baer

*" t xi L** £ gvn*\ rO

Iniended transaction activilics

The following data enables the comparison.of the distinctive feätures of.transactions detected by the fransaction Monitoring Sy's-item with the respective transaction-relateä. expectations. : . •

In which countrles do you plan to carry out transactions on a regulär basis? (several countries possible)

From which countrles dö you regularly recelve transactions? (several countries possible)

It Is absolutely essehtlal to glve the cllent the following Information durlng the dient Interview:

Due to regulatory requiremenis, the Bank is obliged to disclose to banks outside Switzerland the last and first riames of accountholders rernitting funds in addition to other dient data (In particular transaction Information and details of domicile) when executinginternational payment Orders and/or payment Orders in foreign currency. By giving Instructions to execuie such transactions. theaccount holder authorizes the Bank to disclose such client data and releases the Bank from its duty to maintain bank-client cörifi-dentialiiy in respect thereof.

D In füll khowledge of the Bank's duty to disclose such Information, the cllent requests the Bank to execute Internati-onal payment Orders or payments In foreign currency from the client's account and agrees to the dlsclösure öf per-sonal data.

D in füll knowledge öf the Bank's duty to disclose such Information, the client Instructs the Bank not tb execute or re-celve äny International payment Orders or paymenta In foreign currency. The Bank will trVereföre not b'e permltted toexecute any Orders couhter to these generäl instructlons. The client advlsor has Informed the cllent that the Bankcannot accept llabllity for a'ny loss süffe'red by the client aa a result.

7/9

MPC1 20151015 004 0082 F

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Rio de Janeiro, 14.05.2013

Ref. 303.6395

Instructipn de couverture permanente

Je vous prle-*vp-,de bien ypulolr.cquvrir systematique/nent les dfblts du cqmpte 1.6066 p^arie cpntpte

303.6395 Chelford Prpmotions S.A,

Jo vous ewemercle par avaftce

Signatur» vwm»dClteniDoc

Patricia KÜ.

MPC1 20151015 004 0084 F

MPC1_20151015_004_0085_F

f.c CRM

General Information

KYC relevant Partners

Partner

ChelfordPromotions SA

Bastos Faria, AnaPaula

Teles FerreiraFilho, Aluisio

TeroManagementLimited

Domlcile

Panama

Brazil

Brazil

Virgin Islands,British

National

Brazil

Brazil

Rate

Account holder

Authorized Signatory (legal entity)

Beneficial owner third partyAuthorized Signatory (legal entity)

Holder of Management Power

Sensit

No

No

No

No

Pl

N(

N(

Nc

Nc

PEPComment

Passeportbresilien,delivre le23.11.2005,valablejusqu'au23.11.2010

Country ofBusiness

Panama

Brazil

Brazil

SwitzerlandBrazil

KYC: ZR/Brs 03036395

KYC profile Tor business relationship 03036395: CHELFORD PROMOTIONS SA, PANAMA CITY

Creation details at 28.06.2007 00:00:00 by "U28094

Revision comment

ZR KYC Profile

Source of funds

Planned Amourrt on Opening

Source of Funds to be deposited

nned Amount (long term)

Purpose of the account

Planned number of transactions

Type of initial Transfer of Assets

1,800,000.00 CHF Remarks

Produit de son acth/ite professionnelle chez Transpetro SA + consultant dans le domaine du petrole

CHF Remarks

gestion du patrimoine

Remarks

Number of records: 1

Type of initial Transfer of Assets

Internal transfer

Remarks

157437

First Senders Bank Bank Domicile

Intended use of incomlng asset


Intended use of asset Year Remarks

Regulär incoming transactions

Not applicable


Country Sender Amount Type of Asset Remark

Lauterburg, Fabienne 1 /10

MPC1_20151015_004_0086_F

f.cCRM«PCl_201SlCiSu-CO«i_CCSS_F

Regulär outgoing transactions

Not applicable


Destination Country Remark

Partner-KYC: Bastos Faria, Ana Paula

Partner-KYC: Bastos Faria, Ana Paula

Creation details at 10.12.2008 00:00:00 by "U21828"

Occupation & Business Activity

;ofessional Status Not employed

tTast Employer Information

Function

Last Employer Business Information

Industry

femme au foyer


Id

31

Nature of busfness

Currenöy not employed

Remarks

Industry description

Country of Business

femme au foyer, sans activitö professionnelle


Country

Brazil

Remarks

Secondary Income

ondary income Information

emarks

Industry

€Ren


Id

31

Nature of business

Currentiy not employed

Remarks

Country of Business


Country

Brazil

Remarks

Income, Expenditure & Savlngs

Income

Lauterburg, Fabienne 2/10

MPC1_20151015_004_0087_F

f.cCRMflPCl_2C151ClS_CC*S_OÖS7_F

Approximate net income < 200.000

Expenditures

Mandatory annual expenses 0.00

Foreseen annual expenses 0.00

Savings

Past annual savings

Future annual savings

PotentialTotal new asset potential No potential

Annual inflow target 0.00

Remarks on asset potential inconnu

CHF

CHF

CHF

CHF

CHF

CHF

CHF

Remarks inconnu

Remarks inconnu

Remarks

Remarks

, Assets & Liabilities

Wealth

Total Wealth (estlmated)

Source of Information

Origin of wealth

10,000,000.00 CHF

Selon le profil complötö parTEAM


Origin of wealth

Savings/Salary

Remarks Amount

Origin of wealth Remarks

Professional and Economic Background Remarks

External financial assets

Other Bank relation(s)

Further external financial assets

External financial liabilities


Non financial assets

Real Estate ownership

Further non-financial assets

De l'activite professionnelle de son 6poux chez Transpetro SA + consultant dans ledomaine du petrole.

Son epoux travaille chez Transpetro S.A. depuis 1984, oü II occupe la fonction despeciaiiste dans le domaine de l'impact ambiantal avec l'exploitation du petrole. II estIngenieur de formation, ainsi que consultant dans le domaine pretrolier.Son epoux a une passton pour la peinture et les peintres modernes bresiliens; il possedeune tres belle collection de tableaux et fröquente les encheres de Rio de Janeiro et deSao Paulo (achat et vente de tableaux).Patrimoine : env. CHF 10 mios (avoirs financiers 50%, immobilier 30% et collection d'art20%)

( )Yes

()Yes

()Yes

()Yes

()Yes

(x)No

(x)No

(x)No

(x)No

(x)No

Soft Data

This is a read-only screen. The data for the displayed Information can be edlted in the Partner wizard

Number of children 1

Partner/Family background Epoux :Aluisio Teles Ferreira Filho, nat. Bresil, ne le 10.10.1957 (co-ttulaire du compte)


MPC1_20151015_004_0088_F

f.c CRMflPCl_2ClSlCIS-.00H_OCSS_F

Enfant:Giovanna Faria Teles Ferreira, nat. Brasil, nee le 24.07.1997

Highest education

Dossier

Important: Changes on this form take effect immediately. This means they become operative before ciosing this dlalogue.

Created from to

Tag Status active

Type M M () Note () Document


Type

^pocument

Content

Signature.tif

Tag

Signatare

Createdon

10.12.2008

Createdby

U21828

P

Changes in partner-KYC

Changes from until


Date

26.04.2013 17:54:44

26.04.201316:57:35

18.04.2013 17:53:43

User

Delto Buono, Remo (U20543)

Delta Buono, Remo (U20543)

Delto Buono, Remo (U20543)

Comments

KYC Account Holder Chelford Promotions SA

Partner-KYC: Chelford Promotions SA


^ccupation & Business Activity

This is a read-only field. The data for the displayed Information can be edited in the Partner wizard

Number of employees No employees

Industry


Country of Business

Societe de domocile

Background of Company Societe de domocile


Id

26

Nature of business

Legal, Financial and Technical advice

Remarks

Societe de domocile


Country

Panama

Remarks


MPC1_20151015_004_0089_F

f.cCRM

Controllmg shareholder

Shareholders

Income, Expenditure & Savings

Income

Approximate net income

Potential

Total new asset potential

Annual inflow target

Remarks on asset potential

CHF

CHF

CHF

Wealth, Assets & Liabilities

Total Wealth (estimated)


Origin of wealth

0.00 CHF


Origin of wealth

Other (specify details in remarks!)

Remarks

Societe de domocile

Amount








}n financial assets



Societe de domocile

Societö de domocile

()Yes

()Yes

()Yes

()Yes

()Yes

(x)No

(x)No

(x)No

(x)No

(x)No

Dossier

Important: Changes on this form take effect immediately. This means they become operative before ciosing this dialogue.

Created from to

Tag Status active

Type M Al1 () Note () Document



MPC1_20151015_004_0090_F

f.cCRMf>PCl_2ClSIGIS_00*f_C03C_F

Type

Note

Content

Old Investment Profile InvestmentHorizon: - Dependence on Assets: -Income Situation: - Liquidity Needs:- Risk Capacity: - InvestementExperience: - Product Knowledge:- Risk Tolerance: - Overall RiskProfile: - Risk Profile Date:2007-08-10

Tag Createdon

10.08.2007

Createdby

U21355


Changes from until


Kate

19.07.201319:25:33

User

Dello Buono, Remo (U20543)

Comments

KYC Power of Attorney Teles Ferreira Filho, Aluisio

Partner-KYC: Teles Ferreira Filho, Aluisio

Creation details at 29.06.2007 00:00:00 by "U28094


Professional Status

Employer Information

Company name

Number of employees

Professional position

Function

ployer Business Information

Industry

Employed

Transpetro S.A.

4,000

Middle Management

Ingenieur - gerant


Id

20

10

Nature of business

Traffic, Transportation

Chemical and Petroleum industry

Remarks


Count ry of Business

la societe Transpetro SA est active dans le transport et la distribution du petrol au Bresill, 4000 employes, CAenv. USD 500 mios par annee.Site Internet: www.transpetro.com.br


Country

Brazil

Remarks

Secondary Income


MPC1_20151015_004_0091_F

f.cCRMnpci_2cisiois_oc*}_ocsi_F


Income


Expenditures

Mandatory annual expenses

Foreseen annual expenses

Savings

Past annual savings

Future annual savings

Potential

«tal new asset potential

nual inflow target


200.000 - 500.000

0.00

0.00

1-5MII.

0.00

inconnu

CHF

CHF

CHF

CHF

CHF

CHF

CHF

Remarks inconnu

Remarks inconnu

Remarks

Remarks


WealthTotal Wealth (estimated)


Origin of wealth

10,000,000.00

Selon le profil Clientcomplet6 par TEAM

CHF


Origin of wealth

Savings/Salary

Remarks Amount



Ext er na l financial assets





Value of external financial liabilities

Remarks



Value of real estate ownership

Remarks

De son activite professionnelle chez Transpetro SA + consullant dans le domaine dupetrole

Le dient travaille chez Transpetro S.A. depuis 1984, oü il occupe la fonction despecialiste dans le domaine de l'impact ambiantal avec l'exploitation du petrole. II estingenieur de formation, ainsi que consultant dans le domaine pretrolier.II a une passion pour la peinture et les peintres modernes bresiliens; il possede une tresbelle collectton de tableaux et frequente les encheres de Rio de Janeiro et de Sao Paulo(achat et vente de tableaux).Patrimoine : env. CHF 10 mios (avoirs financiers 50%, immobilier 30% et collectton d'art20%)

()Yes

()Yes

(x)No

(x)No

(x) Yes () No

5,000,000.00

estimafon

(x)Yes ()No

3,000,000.00

estimation

CHF

CHF


MPC1_20151015_004_0092_F

f.cCRM


Value of non-financial assets

Remarks

(x) Yes () No

2,000,000.00

collection d'art

CHF

Soft Data

This is a read-only screen. The data for the displayed Information can be edited in the Partner wizard

Number of children 1

Partner/Family background

Highest education

Epouse:Ana Paula Bastos Faria, nat. Bresil, nee le 06.10.1962 (co-titulaire du campte)Enfant:Giovanna Faria Teles Ferreira, nat. Bresil, nee le 24.07.1997

Important: Changes on this form take effect immediately. Thls means they become operative betöre closing this dialogue.

Created from to

Tag Status active

Type M A" () Note () Document


Type

Document

Note

L Document

i

Content

Signature.tif

Okl Investment Profile InvestmentHorizon: - Dependence on Assets: -Income Situation: - Liquidity Needs:- Risk Capacity: - InvestementExperience: - Product Knowledge:- Risk Tolerance: - Overall RiskProfile: - Risk Profile Date:2007-06-29

303.6395 - 1 .6066 - KYC printlnternet.pdf

Tag

Signature

Createdon

29.06.2007

29.06.2007

26.04.2013

Createdby

U28019

U28094

U20543


Changes from until


Date

26.04.2013 17:54:43

26.04.201316:57:35

18.04.2013 17:53:43

User




Comments

Partner-KYC: Tero Management Limited

Partner-KYC: Tero Management Limited



MPC1_20151015_004_0093_F

f.cCRMf1PCl_2ÖlSlClS_CC*i_OC33_F


This is a read-only field. The data for the displayed Information can be edited in the Partner Wizard

Number of employees Less than 10 employees

Industry


Country of Business


Id

26

Nature of business

Legal, Financial and Technical advice

Remarks

societe de domicile

societe de domicile destinee ä l'activite d'mterrnediaire financier de r ADE


Country

Switzerland

Brazil

Remarks

Background of Company

Controlling shareholder

Shareholders

societe de domicile destinee ä l'activite d'intermediaire financier de I'ADE

100% ADE et First Director


Income


Potential

Total new asset potential

Annual inflow target


200.000 - 500.000

1-5 ML

0.00

inconnu ä ce jour

CHF

CHF

CHF


Wealth

Total Wealth (estimated)


Origin of wealth

0.00

Client

CHF


Origin of wealth

Other (speciry details in remarks!)

Remarks

societe de domicile

Amount





Value of external bankable financial assets

societö de domicile destinee ä l'activite d'intermediaire financier de I'ADE

societe de domicile destinee ä l'activite d'intermediaire financier de I'ADE

(x) Yes

0.00

()No

CHF


MPC1_20151015_004_0094_F

f.cCRMRPCi_2C151Ö15_CCH_COWJF

Remarks






Value of real estate ownership

Remarks


mconnu( ) Yes (x) No

OYes

(x) Yes

0.00

inconnu( )Yes

(x) No

()No

(x)No

CHF

Dossier

_ portant: Changes on this form take effect immediately. This means they become operative before ciosing this dialogue.

Created from to

Tag Status active

Type M M () Note () Document


Type Content Tag Createdon

Createdby


Changes from until


Date

26.04.2013 17:54:44

26.04.2013 16:57:35

20.12.2010 17:15:29

User



Soliveau, Carole (U28094)

Comments

Expired Relations

This Brs/ZR contains partners with expired relations. These Partners may have an associated kyc profile that is not yet displayed. Press thebutton "Load profiles" to load availabie KYC Profiles for the expired Relations.

Revisions

Changes from

Additional changes of related objects

until


Date

19.07.201319:25:34

Object

KYC profile 347,421

User

Dello Buono, Remo(U20543)

Comments
