TERMS AND CONDITIONS OF BUSINESS

SERVICES
1.1 Larona Trust Reg. will provide the services requested by the client on the following Terms and Conditions.

1.2  It is clearly understood that, whilst Larona Trust Reg. will endeavour to provide correct information on all its services, it is under no obligation to render such services unless it agrees with the client to do so. Larona Trust Reg. strongly recommends that in addition to the advice given by Larona Trust Reg. independent advice is sought by the client from appropriately qualified persons.

INSTRUCTIONS
2.1 Larona Trust Reg. will, unless agreed otherwise in writing, carry out all instructions given by or with the authority of the client or any one client if there are two or more clients, and each client hereby appoints each of the other clients as his attorney-in-fact for the purpose of giving such instruction. If the person authorised in writing to give instructions ("the Client Contact person") is other than the client, the client hereby appoints the Client Contact Person as attorney-in-fact for the purpose of giving such instruction. Larona Trust Reg. will carry out all instructions given by or with the authority of the Client Contact Person. This power of attorney between clients or between the client and Client Contact Person shall remain in full force and effect until Larona Trust Reg. receives written notice to the contrary from any one of the clients.

2.2 Larona Trust Reg. will not be required to carry out instruction which it considers may be illegal or contrary to public policy.

2.3 In the event that Larona Trust Reg. acts upon instruction given by any one client and later receives conflicting instructions from another of the clients, Larona Trust Reg. shall not be bound to recognise or act upon any further instructions until it is furnished with unequivocal instruction signed by all clients.

2.4 Larona Trust Reg. is authorised, but not required, to take any action which it deems necessary whenever it is impractical or impossible to obtain instructions from the client or Client Contact Person in due time or whenever action is stated to be required by law or by rulings or practice or appropriate authorities, local or foreign, in which instance, Larona Trust Reg. shall not be required to determine whether such actions were required or necessary according to the correct interpretation of such law, rulings, or practice to contest or otherwise oppose such actions.

2.5 Larona Trust Reg. shall not be liable in any way for acting or not acting in accordance with opinions, advice, instructions, requests, certificate, powers or attorney, or other instructions believed by it to be genuine.

2.6 Unless and until Larona Trust Reg. receives written notice to the contrary, Larona Trust Reg. is authorised to rely upon and act in accordance with any notice, demand, instruction or other communication which may be, or purport to be, given by telephone, telex or facsimile transmission by the client or Client Contact Person.

TRUSTS
3.1 Larona Trust Reg. will give due consideration to the wishes of the Settlor (expressed in writing to the Trustee), it being understood that any such letter of wishes is not legally enforceable nor binding on the Trustee.

3.2 In the event that Larona Trust Reg. is requested to make specific investments or to appoint an Investment Advisor, Larona Trust Reg. shall be fully indemnified in respect of its decisions to act upon such request and shall not incur any liability in following such request or the recommendations of such Investment Advisor.

3.3 In the event that Larona Trust Reg. is requested to vest custody and control of trust assets in a third party, Larona Trust Reg. shall be fully indemnified in respect of its decision to act upon such request and shall not incur any liability in following such request.

3.4 Larona Trust Reg. may decline to accept, retain or purchase partly paid shares in companies with unlimited liability or other property which Larona Trust Reg. considers to be onerous and may decline to open margin, commodity, derivative or similar accounts.

INDEMNITIES
4.1 In consideration of Larona Trust Reg. agreeing to provide its services:

  1. Larona Trust Reg., its directors, officers, employees and agents shall be entitled to a full and complete indemnity which shall be enforceable against the trust funds in Larona Trust Reg.'s hands or assets under its control in respect of all actions, proceeding, claims, costs and expenses whatsoever made against or incurred by it arising out of or in connection with the administration by Larona Trust Reg. of any trust, company or business, and shall have a lien on all such funds and assets until the amount of such costs and expenses in any current actions or claims has been determined, and
  1. The client agrees to indemnify Larona Trust Reg., its directors, officers, employees and agents against all actions, proceedings, claims, costs and expenses whatsoever made by any company or person in respect of its services including any acts or omissions in the carrying out of any instructions which it believes to have been genuinely given by the client, however received,  either by facsimile, orally, or written notwithstanding that such instructions may later prove not to have been given by the clients or with his authority.

4.2 These indemnities shall apply, inter-alia, in respect of all acts or omissions except those attributable to the dishonesty or gross negligence of Larona Trust Reg. or its employees.

4.3 Larona Trust Reg. shall be entitled to take legal advice and, when so advised, to bring or defend or authorise the bringing or defence of any actions, proceedings or claims without express consent. The costs and expenses of any such advice and of any legal action shall be borne by the client.

4.4 The termination of its services shall not relieve the client of its obligations under these and any other indemnities.

JOINT OWNERSHIP
5.1 Where there are two or more persons or entities entering into a client relationship with Larona Trust Reg. hereunder, their agreements and undertaking herein shall operate as their joint and several obligations.

MONEY LAUNDERING
6.1 The client is deemed to be aware of the Liechtenstein Due Diligence legislation and undertakes to provide such additional information as may be required by Larona Trust Reg. to verify hid identity, his acting bona fide and / or details of the nature of transactions and / or source of funds.

6.2 Although Larona Trust Reg.'s relationship with its clients is protected by professional privilege the resulting confidentiality can not claim absolute validity. Larona Trust Reg. is obliged to give evidence and information to the Liechtenstein authorities inasmuch as legal stipulations provide for such an obligation.

FEES AND EXPENSES
7.1 In consideration of Larona Trust Reg. performing its services the client shall pay, and accordingly authorise Larona Trust Reg. to collect, all fees in accordance with the written fee agreement or, if no agreement, in accordance with Larona Trust Reg.'s Standard Fee Schedule and Terms and Conditions from time to time in effect. The client shall also reimburse Larona Trust Reg. for any and all expenses and taxes incurred by it in the carrying out of its services.

7.2 The fees, expenses and other charges of Larona Trust Reg. in accordance with Clause 7.1 shall be a first charge on the assets of the trust, company or business and, furthermore Larona Trust Reg. shall have the right of set-off against the balances or other assets of all accounts of the client or held on behalf of the client.

CLIENT ACCOUNT TRANSACTIONS
8.1 All client funds held in Larona Trust Reg. client account will be entitled to interest at the rate paid by the bank with whom such accounts are maintained, in accordance with their published scales, subject only to the deduction of a fiduciary fee equivalent to 0.2% per annum and bank charges.

ASSIGNMENT OF INTERESTS IN THOSE CASES NOT INVOLVING THE ESTABLISHMENT OF A TRUST
9.1 Where Larona Trust Reg. provides management services for a company not owned by a trust of which Larona Trust Reg. is a trustee, the client undertakes not to transfer, pledge or otherwise hypothecate its ownership interest of the shares of the company without the prior knowledge and written consent of Larona Trust Reg. Furthermore, in instances where bearer shares are issued, these will be held by Larona Trust Reg. in trust for the client.

CLIENT UNDERTAKINGS
10.1 All clients undertake to ensure that any trust, company, business or other entity operates correctly and legally and furthermore complies with any reporting or other requirements, including securities laws and other legislation.

10.2 All clients undertake to procure that any and / or all government duties, franchise or other taxes are paid expeditiously to Larona Trust Reg. and, where appropriate, bona fide accountancy information is supplied. If late payment is made, it is agreed that the client will pay, or procure the payment, to Larona Trust Reg. of any late filing fees, penalties, costs or other liabilities that may have been incurred as a result of such late payment.

TERMINATION
11.1 Its services may be terminated by Larona Trust Reg. at any time and by the client on 30 days written notice to Larona Trust Reg., provided that termination by the client shall not be effective until the client has discharged, or caused to be discharged all obligations to Larona Trust Reg., including obligations for which Larona Trust Reg. could be made liable.

CORRESPONDENCE AND MAIL
12.1 All correspondence in relation to, addressed to or received for the client will be forwarded to such address as the client shall instruct in writing from time to time. If required to "Hold all Mail", Larona Trust Reg. is hereby indemnified against loss for or arising from non-delivery of such mail.

SAFEKEEPING
13.1 All items held in safekeeping by Larona Trust Reg. are at the risk of the client although Larona Trust Reg. will use its best endeavours to ensure that items are held in a secure facility. The client hereby indemnifies Larona Trust Reg. against loss for or arising from non-delivery of any safekeeping items.

GENERAL
14.1 In the event that any provision of these Terms and Conditions of Business or any part thereof is invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

14.2 In these Terms and Conditions of Business, where the context so permit, the masculine shall include the feminine and vice-versa, the neuter shall include the masculine and vice-versa, and the singular shall include the plural and vice-versa.

14.3 These Terms and Conditions of Business, which shall be deemed to come into full force and effect and be applicable to all clients from the date of issue, constitute the entire agreement between Larona Trust Reg. and the client with respect to the subject matter hereof and supersede all previous expectations, understanding, communications, representations, agreements and Terms and Conditions of Business, whether oral or written between Larona Trust Reg. and the client with respect to the subject matter hereof.

GOVERNING LAW
15.1 These Terms and Conditions of Business shall be governed by the laws of the Principality of Liechtenstein and the courts thereof shall be the exclusive forum for the interpretation and adjudication of any actions or claims arising herefrom.