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General Terms and Conditions

> Belgium

> Luxembourg

Belgium

Article 1 - Scope

1.1. Present general conditions apply to each performance of Tiberghien to a client, except where agreed otherwise in writing between Tiberghien and the client, in which event present general conditions only apply to the extent they do not differ from what has been stipulated in such agreement.

1.2. Present general conditions have force of law in the relation between Tiberghien and the client and are deemed to be accepted by the client if he has made no objections within a reasonable term upon their receipt. Acceptance of present general conditions may be inferred from amongst other things, however not exclusively, a normal continuation of performances by Tiberghien without opposition of the client within a reasonable term.


Article 2 - Payment of fee notes

2.1. Our services are charged on a hourly basis of which the rate varies according to the experience of our colleague, the complexity of the matter at hand, the degree of urgency of the case and the achieved results. The first consultation will be charged according to the same criteria.

2.2. The hourly rates do not include VAT nor secretarial services and small office costs made by our firm. An additional 7,5% on the fees will be charged to cover those services. Special costs and expenses (such as for example travel and other disbursements) will be invoiced separately.

2.3. Our fees are subject to 21% VAT.

2.4. Unless expressly determined otherwise, fees due by the client for performances shall be paid no later than thirty (30) days following the date mentioned on the Tiberghien statement of fees related to the performances. Advance fee notes shall be paid no later than seven (7) days following the date mentioned on the statement of fees.

2.5 Disputes should be reported to Tiberghien as soon as possible, no later than within 3 weeks of the invoice date, in writing, preferably on invoicing@tiberghien.com.


Article 3 - Late payment

3.1. In the event of a late payment, an annual default interest of 7% shall be due by the client, after Tiberghien has formally served a notice of default payment of the statement of fees from the client whereby the latter is informed that a default interest shall be charged. Furthermore, in such event a fixed compensation amounting to 15% of the outstanding fees must be paid by the client to compensate the costs caused by the late payment.


Article 4 - Professional liability

4.1. Tiberghien has subscribed a professional liability insurance to cover its possible professional liability, as well as that of its partners, each lawyer, associate or trainee, acting in the framework of a cooperation agreement with Tiberghien.

4.2. The liability of Tiberghien vis-à-vis the client, as well as that of its partners, each lawyer, associate or trainee, in connection with performances in the framework of the cooperation with Tiberghien, shall always be limited to an amount covered by Tiberghien's professional liability insurance.


Article 5 - Applicable law and jurisdiction

5.1. These general conditions and the relation between Tiberghien and the client are governed by Belgian law and, to the extent applicable, by and taking into account the professional rules of conduct issued by the Dutch and French Bar of Brussels as well as by the Antwerp Bar.

5.2. Any possible dispute arising out of or in connection with the relation between Tiberghien and the client or these general conditions shall be exclusively settled before the courts of the judicial district Brussels and, to the extent applicable, the competent bodies of the Dutch or French Bar of Brussels and of the Antwerp Bar.

Luxembourg

Article 1 - Scope

1.1. Present general conditions apply to each performance of Tiberghien Luxembourg S.à r.l. to a client, except where agreed otherwise in writing between Tiberghien Luxembourg S.à r.l. and the client, in which event present general conditions only apply to the extent they do not differ from what has been stipulated in such agreement.

1.2. Present general conditions have force of law in the relation between Tiberghien Luxembourg S.à r.l. and the client and are deemed to be accepted by the client if he has made no objections within a reasonable term upon their receipt. Acceptance of present general conditions may be inferred from amongst other things, however not exclusively, a normal continuation of performances by Tiberghien Luxembourg S.à r.l. without opposition of the client within a reasonable term.


Article 2 - Payment of fee notes

2.1. Our services are charged on a hourly basis of which the rate varies according to the experience of our colleague, the complexity of the matter at hand, the degree of urgency of the case and the achieved results. The first consultation will be charged according to the same criteria.

2.2. The hourly rates do not include VAT nor secretarial services and small office costs made by our firm. An additional 7,5% on the fees will be charged to cover those services. Special costs and expenses (such as for example travel and other disbursements) will be invoiced separately.

2.3. Our fees are subject to 17% VAT.

2.4. Unless expressly determined otherwise, fees due by the client for performances shall be paid no later than thirty (30) days following the date mentioned on the Tiberghien Luxembourg S.à r.l. statement of fees related to the performances. Advance fee notes shall be paid no later than seven (7) days following the date mentioned on the statement of fees.


Article 3 - Late payment

3.1. In the event of a late payment, an annual default interest of 7% shall be due by the client, after Tiberghien Luxembourg S.à r.l. has formally served a notice of default payment of the statement of fees from the client whereby the latter is informed that a default interest shall be charged. Furthermore, in such event a fixed compensation amounting to 15% of the outstanding fees must be paid by the client to compensate the costs caused by the late payment.


Article 4 - Professional liability

4.1. Tiberghien Luxembourg S.à r.l. has subscribed a professional liability insurance to cover its possible professional liability, as well as that of its partners, each lawyer, associate or trainee, acting in the framework of a cooperation agreement with Tiberghien Luxembourg S.à r.l.

4.2. The liability of Tiberghien Luxembourg S.à r.l. vis-à-vis the client, as well as that of its partners, each lawyer, associate or trainee, in connection with performances in the framework of the cooperation with Tiberghien, shall always be limited to an amount covered by Tiberghien Luxembourgs S.a r.l.'s professional liability insurance.


Article 5 - Applicable law and jurisdiction

5.1. These general conditions and the relation between Tiberghien Luxembourg S.à r.l. and the client are governed by Luxembourg law and, to the extent applicable, by and taking into account the professional rules of conduct issued by the Luxembourg Bar.

5.2. Any possible dispute arising out of or in connection with the relation between Tiberghien Luxembourg S.à r.l. and the client or these general conditions shall be exclusively settled before the courts of the Luxembourg judicial district and, to the extent applicable, the competent bodies of the Luxembourg Bar.

Tiberghien Brussels

Tour & Taxis

Havenlaan|Avenue du Port 86C B.419
BE-1000 Brussels
T +32 2 773 40 00
F +32 2 773 40 55

info@tiberghien.com

Tiberghien Antwerp

Grotesteenweg 214 B.4
BE-2600 Antwerp
T +32 3 443 20 00
F +32 3 443 20 20

info@tiberghien.com

Tiberghien Ghent

Esplanade Oscar Van de Voorde 1
BE-9000 Gent
T +32 9 265 95 51

info@tiberghien.com

Tiberghien Hasselt

Koningin Astridlaan 35
BE-3500 Hasselt
T +32 11 57 00 13

info@tiberghien.com

Tiberghien Luxembourg

2, rue Albert Borschette
LU-1246 Luxembourg
T +352 27 47 51 11
F +352 27 47 51 10

info@tiberghien.com