CONTRACT NO. GLHRY-0212 FOR THAILAND REFINED SUGAR

THlS CONTRACT MADE ON NOVEMBER 1, 2012 BETWEEN SlAM SUGAR EXPORT CORPORATION LTD. (HEREINAFTER REFERRED TO AS THE SELLER) ON THE ONE PART, AND GLAMOUR LlFE INTERNATIONAL CO., LTD., NO. 97, GROUND & FIRST FLOOR, PREAH BLVD.. SANGKAT CHAKTO MOK, KHAN DUAN PENH, CAMBODIA (HEREINAFTER REFERRED TO AS THE BUYER) ON THE OTHER PART.

IT IS HEREBY AGREED THAT THE SELLER WlLL SELL AND THE BUYER WlLL BUY IN ACCORDANCE WlTH THE TERMS AND CONDITIONS STIPULATED HEREINAFTER.

THE TERMS AND CONDITIONS HEREINBEFORE REFERRED TO :

1. QUALIN : THAILAND CANE REFINED SUGAR OF THE CURRENT CROP, WITH MINIMUM POLARIZATION OF 99.80 DEGREES, MAXIMUM MOISTURE 0.06% AND MAXIMUM COLOUR 45 ICUMSA, ALL FINAL AT TIME OF SHIPMENT:

2. QUANTITY : 300 (THREE HUNDRED) METRIC TONS MINIMUM/MAXIMUM.

3. PACKING : IN NEW POLYTHENE LINED POLYPROPYLENE BAGS OF 50 KGS NET EACH, SUITABLE FOR EXPORT WlTH A MINIMUM TARE WEIGHT OF 160 GRAMS.

4. SHIPMENT : 4.1 DURING NOVEMBERJDECEMBER 2012AT THE BUYER'S OPTION.

4.2 PARTIAL SHIPMENT IS ALLOWED WlTH A MINIMUM OF 500.- METRIC TONS PER SHIPMENT. IF THE QUANTITY SHIPPED IS LESS THAN 500.- METRIC TONS, THE BUYER SHALL PAY AN EXTRA FEE OF US. DOLLARS 800.- (EIGHT HUNDRED) INCLUSIVE. THlS IS NOT APPLICABLE TO THE CONTRACT'S LAST SHIPMENT AND CONTRACT WlTH THE TOTAL QUANTIlY LESS THAN 500.- METRIC TONS.

5. PRICE : AT A UNIT PRICE OF US$630.00 (UNITED STATES DOLLARS SIX HUNDRED AND THIRTY ONLY) PER METRIC TON F.O.B. AND STOWED BANGKOK AND/OR SRIRACHA AND/OR LAEMCHABANG AND/OR KOHSICHANG.

OTHER SPECIAL TERMS AND CONDITIONS

PAYMENT : BY T/T REIMBURSEMENT TO AIC NO. 101-0-49560-2 OF SlAM SUGAR EXPORT CORPORATION LTD. WlTH BANGKOK BANK PUBLIC CO., LTD., HEAD OFFICE 10 DAYS BEFORE SHIPMENT.

OTHERS : ALL OTHER TERMS AND CONDITIONS AS PER SSEC STANDARD CONTRACT TERMS AND THE RULES OF THE REFINED SUGAR ASSOCIATION OF LONDON.

Subject also to the General Terms and Conditions set forth on the reverse side hereof whlch form an integral part of this Contract. In the event of any discrepancy or inconsistency between the above Special Terms and Condltlons and the General Terms and Conditions, the above Speclal Terns and Conditions shall prevail.

CONFIRMED AND AGREED BY S lAM SUGAR EXPORT CORPORATION LTD.

FOR AND ON BEHALF OF GLAMOUR LlFE INTERNATIONAL CO., LTD.

O E N E ~ ~ L TERMS AND CONDlTlONS

6. DELMRY 6.1 AT ONE OR TWO SAFE BERTHS AND/OR ANCHORAGE(S) AT BANGKOK AND/OR TO COMPLETE LOADING AT SRIRACHA OR LAEMCHABANG, OR AT THE SELLER'S OPTION, VESSEL SHALL PRESENT AT SRlRACHA AND/OR LAEMCHABANG WITH LOADING RATE TO BE 1,000 M W C T O N S PER WEATHER WORKlNG DAY OF 24 CONSEC,UTIM HOURS. IF LOADING CANNOT BE COMPLETED AT BANGKOK. SRIRACHA A N W R LAEMCHABANG, THEN THE SELLER SHALL COMPLETE LOLDlNG AT W3HSICHANG AT THE SELLERS WENS€. EXEFT MLNNE INSURANCE AS PROVDED IN M E INSURANCE CLAUSE OF THlS CONTRACT W W LOAQING RATE TO BE 750 MElRlC TONS PER WEATHER W W N G DAY OF 24 CONSECUTIVE HOURS. . BY m~ AGREEMENT OF ME BUYER AND THE SELLER. IF ONLY ONE PORT' AT BANGKOK OR KOHSlCHANG OR LAEMCHABANG OR SPJRACHA SHALL BE PRESE,mD BY THE SELLER LOADING RATE, BY THE SAFE MIGHT LIFTING (SWL) W m l NO LESS THAN 15 M m C TONS OF SHIP'S.GEAR IN EACH HATCY SHALL BE 1.500 MEWJC TONS PER WEATHER WOR'UNG DAY OF 24 WNSECUTlVE HOURS. . GEARLESS MSSEL(S) IS ACCEPTABLE PRWIDED THAT M E BWER SHALL ElMER PAY AN EXlRA FEE ATTHE RATE TO BE MLITUALLY AGREED BY THE EWER AND THE SELLER OR BE

'RESPONSIBLE FOR ALL COS~S~EXPENSES PERTAINING TO D n m w AND LOADING OF SUGAR M O THE VESSEL:LOADlNG RATE SHALL BE'l,500 MElFUC TONS PER WEATHER WORKING DAY.

A U LOADING RATES AS M E W N E D IN THIS CLAUSE CALCULATED ON GROSS WEIGHT PROVIDED MSSEL CAN RECEIVE AT THESE RATES. BASIS 4 OR MORE HATCHES W H A MINIMUM OF ONE EFFICIENT WORKABLE SHIPS GEAR M EACH HATCH BENG AVAILABLE AT COMMENCEMENT OF LOADING EXCEPT IN THE CASE OF GEARLESS VESSEL. IF LESS THAN FOUR HATCHES 'ARE AVAILABLE, LOADING RATES TO BE REDUCED P R W T k LOADING LAWME SHAU BE FETAtNED UNDER CLAUSE 1.6. 8 2 THE BWER TO GIVE THE SELLER MINIMUM 7 (SEVEN) WRKINQ DAYS WUITEN,NOTICE OF VESSEL'S ESTIMATED READINESS TO LOAD. TlME TO BE COUNTED SHALL BEGIN AT M E ND(T REGULAR -WORKING PERlOD AFER ME SaLER RECEIVED THE EWER'S VESSEL DECLARATION I N ORDINARY OFFICE HOURS.

THE VESSEL DECLARATION MUST INCLUDE THE FOLiONiNG DETAILS: (Lp VESSEL NAME AND ESTIMATED TIME OF ARRIVAL. m) DESTINATION. (C) NOTIFY PARTY. 0 OESCRIPllON OF SUGAR (El EXACT QUANTITY TO BE SHIPPED. 07 PACKING. (0) OTHER INFORMATDN REQUIRED BY THE THAI GOVERNMENT3 REGULATIONS, IF ANY, UPON M E SELLER'S AWANCE NOTIFICATIONS.

THE DECLARATION TO BE EFFECTIVE AFTERTHE UNRESTRICTED IRREVOCABLE LE IER (s) OF CREDrr AT SIGKT, .OR ME TK OR ~ F T PAYMENT IN CASE OF PAYMENT BY ~rr . OR WFT. AS PER THE PAYMENT CLAUSE OF THE CONTRACT, HAS BEEN DULY RECEIVED BY THE SELLER

. 63 THE E Y E R SHNL PROVIDE M E DESCRIPTION OF VESSEL(S). DEMUWUIGEtDESPATCH RATES AND ALSO ENDEAVOUR TO SUPPLY THE SELLER ,WITH COW OF THE RELEVANT CHARTER PARTY AND TOTAL QUANTITY TO BE SHIPPED PRIOR TO THE TENDERING OF WRlTEN NOTICE OF READINESS.

M E BWER SHALL H A M ME RIGHT TO SUBSTITUTE THE VESSEL DECLARED AND - -

SUCH SUBSTITLITION SHALL NOT BE CONSIDERED AS A NEW DECLARATION PROVlDED THAT THE SUBSTITUTE MSSEL IS SUITABLE FOR M E LOADING AND CARNAGE OF SUGAR AT THE PORT OF LOADING AND ALWAYS PROVlDlNG THE SUBSTmmON IS FOR THE SAME CARGO OUANTIM. M E BWER SHALL BE RESPONSBLE FOR ANY PROVEN COSTS INCURRED BY THE SELLER BY REASON OF A W SUB!XiWION. SHOULD THE SUBSTITLITE VESSEL ARRM BEFORE M E EXPECTED TIME OF ARRIVAL OF THE ORIGINALLY DECLARED VESSEL. THE NOTICE PERIOD EFFECTIM FROM THE ORIGINAL DECLARATION SHALL APPLY. 0.4 SHIPS HOLDS TO BE ODOURLESS AND FREE FROM INSECTS. PROPERCY'SWEPT, CLEANED AND DRIED TO THE SATISFACTION OF SHIPPER OR SHIPPERS AGENT BEFORE LOA~ING. SHIP'S HOLDS TO BE YUSHED WWN OMY IF , C ~ G O R(JURIOUS TO SUGAR CARRIED PREVIOUSLY AND IF DONE. HOLDS TO BE C O M P L ~ L Y DRY BEFORE TENDERING . . - - - . . . - MSSE~S NOTICE OF READINESS VESSELS WUtEN NOTICE OF READINESS TO BE TENDERED IN ORDINARY OFFICE HOURS AND SHALL BE ACCEFED. AFER SHIP'S HOLDS PROPERLY %PT, CLEANED ANDDRIED TO THE SATISFACllON OF I~DEPENDENT SURMYOR. W-R IN BERTH OR NOT. SHIP TO PROVIDE AND LAY SUFFICIENT DUNNAGE AND MAT OR WFT PAPER AN@ TO BE SO WNNAGED SO AS TO EFFECTIVELY.PROTECT AND PREVENTTHE BAGS COMING INTO CO~TACTWIMTHE EDGES OF BEAMS AND STRM~GER PLATES. 0.6 AT EACH LOADING PORT. EVEN [F LOADING COMMENCES EARLIER LAWME FOR LOADING T O BEGIN AT 1400 H&RS AFER PEUllEN NOTICE OF READINESS HAS BEEN ACCEPTED IN ORDINARY OFFICE HOURS BEFORE NOON AND AT 0800 HOURS NEXT WORWNG DAY IF NOTICE OF READINESS HAS BEEN ACCEPTED IN ORDiNARY OFFEE HOURS OF AFERNOON. TlME FROM NOON SATURDAYS TO 0000 HOURS MONDAYS AND-FROM 1700 HOURS DAY PRECEDING A HOLIDAY (OR LOCAL EQUIVALENE) UNTIL 0800 HOURS NEXT REGULARWWNG DAY EXCEPTED, EVEN IF USED.

LAYDAYS ATTHE AVERAGE RATE AS STIPULATED IN CLAUSE 8.1 INCLUDING GEARLESS MSSEL CALCULATED ON GROSS WEIGHT PROVlDED VESSEL CAN RECEIVE AT SUCH RATE, PER WEATHERWRIUNG DAY OF 24 CONSECUI'IVE HOURS, TIME FROM NOON SATURDAYS SO.0800 HOURS MONDAYS (OR LOCAL EQUNALENTS) AND FROM .I700 HOURS DAY PRECEDING A HOLIDAY UNTIL OBOo HOURS NWT WORKING DAY EXCEPIED, E M N IF USED, SHALL BE ALLOWED TO M E SAID BWER. FOR LOADING AND WAITING FOR ORDERS. TlME EMPLOYED M SHIFTING ANCHORAGES ANWOR LOADING RACES W H l N THE SAME PORT OR ITS JURISDICTION NOfTO COUNT AS LAYTIME. AND SHlFllNG EXPENSES TO BE FOR M E ACCWNT OF M E BWER

AT LOADING PORT(S) IN THE M N T OF CONGESflON MASTER HAS THE RIGHT TO TENDER NOTICE OF READINESS AT THE CUSTOMARY WAITING PLACE IN ORDINAKY .OFFICE .HOURS BY CABLE/IELD<TO AGENTS WHFMER IN BERTH OR NOT, WETHER IN PORT OR NOT. WETHER IN FREE PRATIQUE OR NOT. WETHER CUSTOMS CLEARED OR NOT. TIME PROCEEDING FROM CUSTOMAW WARING PLACE TO LOADING BERWANCHORAGE NOT TO COUNT AS LAYTIME IF THE LOAOPORTSURMYOR IS UNABLE TO ATTEND THE VESSEL AT THE CUSTOMAW WAITING PLACE AND AFER VESSEL'S ARRJVAL AT LOADING BERMIANCHORAGE M E VESSEL FAILS HER SURVEY. LAYllMLOEMUWGE SHALL CEASE FROM SUCH FAILURE UNTIL THE VESSEL'S HOLDS ARE PASSED ACCORDINGLY. 6.6 M E BWER SHALL BE RESPONSIBLE FOR THE RELEASE OF THE BR TO M E SEUER AT LOADING PORT WITHIN M W F O U R HOURS OF COMPLETION OF LOADING. SATURDAYS, SUNDAYS AND HOLIDAYS EXCEPTED. THE BUYER SHALL BE RESPONSIBLE FOR ANY PROVEN COSTS-INCURRED BY THE SELLER BY REASON OF M E FALURE. IF SUCH DELAY IS NOT CAUSED BY M E SELLER 8.7 THE DEMURRAGE RATE SHALL BE M E RATE SPECIFIED IN THE CHARTm PARTY PURSUANT XI YYHlCH THE SUGAR IS CARPJED. AND MSPATCH SHALL BE HALF OF THE DEMURNIGE RATE SUCH RATES SHALL BE DECLARED BY M E BUYER TO M E SELLER LATEST ON MSSEL TCNDCAINO NOTICE OF READINCSS TO LOAD AN0 TO BE IN LINE Wit THC PREVAILING MARKET RATE FOR LIKE TYPE AND SIZE OF VESSEL BUT NEED TO BE ADHE& TO] - - ... THE FOLLGWING CONDITIONS 11 IF SUMMER DEAD WElGM (SALT WATEQ OF THE CARFUED VESSEL IS MORE THAN 36,000

luYI, DEMURRAGE RATETO BE W M U M USS20.000.-PER DAY. 2) IF SUMMER DEAD WEIGHT (SALT WATER) OF THE CAWED MSSEL IS E M E N 25,001

TO 35.000 MIT. DEMURRAGE RATE TO BE W M U M US$15,000.-PER DAY. 3) IF SUMMER DEAD 'MIGHT (SALT WATER) OF THE CAWED MSSEL IS B

TO 25.000 W. DEMUFUUGE RATETO BE W M U M UStlO COO.- PER D A Y ~ ? ~ ~ M 4) IF SUMMER DEAD WIGHT (SALTWATER) OF THE CAWED VESSEL IS OR LESS THA&~

35.000 F&l, DEMURRAGE RATE TO BE MAXlMUM US$S.OOO - PER DAY W5 DEMURRAGVDESPATCH, SHALL BE S ~ E D AND PAID o l w c n y B ~ E N ME BWB

AND M E SELLER NOT LATER M A N 60 DAYS AFER THE DATE OF THE BILLS OF LADING. OR THE DATE WHEN MSSEL SAILED OUT OF LASTLOADING PORT, WCHEVER COMES FIRST. 6.8 IN CASE MSSEL HAS BEEN CHARTERED ON C Q D (CUSTOMARY W C I t DESPATCH)

: . TERMS W H NO DEMURRAGE. THE BWER SHALL PAY USS0.75 PER METRIC TON FOR COMPENSATION OF. DESPATCH MONEY IN' UEU. M E AMOUNT TO BE INCLUDED IN THE COMMERCIAL INVOICE. 8 1 OTHER TERMS AND CONDmONS ARE SUBJECT TO THE RULES OF SUGAR CHARTER PARTY 1989..IN CASE OF ANY ALTER4llON WRITEN OR TYPED ON THE FACE OF THlS COMRACT, WICH IS INCONSISTEM wrn m~ RULES OF SUGAR CHARTER PARTY 1989, SUCH W ~ N nR NPED m-Emnrn SHALL PREVAIL - ~ - -

7. DESTIWTlON: WORLD DESTINATION. a. SEITLEMEllT. 8.1 SHIPPING WEIGHT, QUALilY AND PACYJNG SHALL BE FINAL AS PER INDEPENDENT SUPERVISION COMPANY CERTIFICATES AT THE SELLER'S CHOICE DRAFT SURVEY RESULTS ARE NOT APPLICABLE IN HE BR ISSUANCE 8.2 THE FINAL INVOICE SHALL BE MADE UPON THE SHIPPING WIQHT AND IN ACCORDANCE wrm THE RULES OF ME REFINED SUGAR ASSOCIA~ON IJ THE SELLER SHALL 8 5 RESPONSIBLE FOR THE WlGHlNG AND SAMPLING OF THE SUGAR AT HIS D(PENSE AT THE p o r n o OF LOAMNG. THE BUYER SHALL HAVE THE O P ~ O N OF APPOINTING FOR HIS O W ACC0UNT.A REPRESENTATIVE TO SUPERWSE WEIGHING, SAMPLING AND LOADING OF THE SUGAR 8. IWSURJUlC!2 MAFUNE AND WAR RISK INSURANCE INCLUDING THE RISKS WILE TRANSPORTED BY L4GMER(S) ATIAND FROM BANQKW\ TOIAT KOHSICHANG, SHALL BE EFFECTED BY THE BWER W H FIRST CLASS INSURANCE COMPANIES IN ACCORDANCE WW THE RULES OF THE REFINED SUGAR ASSOCIATION. 10. PAYUCrnBYVC. 10.1 THE BWER SHALL ESTABLISH THROUGH FIRST CLASS OVERSEAS BANKO. AWISEU

. . OF *SELLER'S I N S ~ C T I O N - 1 0 1 PAYMENT FOR 100 % {ONE HUNDRED PERCENO INVOICE VALUE SHALL BE MADE AGAINST L ~ R ( S ) OF CRED~T AGAINST REQUIRED SHIPPING DOCUMENTS AS PER ME DOCUMENT CLAUSE OF THlS CONTRACT. - . . . - . - .

OR : BY Tm ORSWT. 10.3 THE BUYER SHALL EFFECT ALL PAYMENIS BY TELEGRAPHIC TRANSFER (Tm OR W[FT

FROM BANK OllTSlDE THAILAND TO THE SELLERS BANK ACCOUNT H THAILAND. THE EWER MUST ADVlSE THE SELLER OF EACH Trr OR SVFr DATE WITH A COW OF T K OR M F T INSTRUCTION. 10.4 ME EWER SHALL EFFECTTHE 100% PAYMENT OF EACH SHIPMENT AT LEAST 7 (SEVEN) WORKING DAYS PRIOR TO THE LOADHG DATE OF EACH SHIPMENT. OR : BY CAD. (CASH AGAINST DOCUMEm. 105 ANY BANKING CHARGES OUTSIDE TH.AILAND FOR ME ABWE-MENTIONED PAYMENlS SHALL BE FOR THE ACCOUNT OF THE BWER 11. DOOUMEHIS 11.1 M E FOLLOWIN0 BASK: DOCUMENTS ARE TO BE PRESEMED BY THE SEUER FOR P A Y M m (A) A COMPLETE SFTOF SIQNED CLEAN 'ON BOARD' BILL(S) OF LADING. (0) CEPJIFICATE OF ORIGIN (C) CERTIFICATE W WEIGHT AND OUALIIY. (D) COMMERCIAL INVOICE

.THE SELLER SHAU PROWDE M E EWER FREE OF CHARGE, YKM NO MORE THAN THREE S€E PER SHIPMENT. EXlRA SEP; OF SUCH DOCUMENTS, IF REQUESTED BY THE EWER SHAU BE PROMDED ATTHE COSTTOTHE BUYER AT USI75.00 PER SET. 1 1 1 M E BWER SHALL O M THE SELLER. PPJOR TO TENDERING NOTICE OF READINESS, COPIES OF SUCH DOCUMENTS AND FORMS AS ARE REQUIRED BY. AND ARE ACCEPTABLE TO THE'.CUSTOMS. AT PORT OF DESIlNATlON INCLUDING FULL DETAILS OF. SUCH CONSULAR CEPJIFIC'ATES S ARE REQUIRED. THE OF CREDIT 'AMENDMEW(S) FOR SUCH DOCUMEM REQUIREMENTS OF EACH 6HIPYENT ,SHALL REACH THE SELLER PPJOR TO

' COMPLETION OF LOADING. '

1 M ADDITION TO THE ABOVE DOCUMENTS THE SELLER:SHALL. IF REQUESTED NOT LATER MAN SMN DAYS PR~oR TO ME COMMENCEMENT OF L O A ~ ~ G OF ME V E s s n INCLUDE IN THE PRESENTATION FOR PAYMENf OTHER DOCUMENTS CUSTOMARILY REQUIRED BY, AND ACCEPTABLE TO THE AUTHOFUTI<S #.ME-COUNTRY OFOES~NATION. ANY SUCH

'ADDITIONAL DOCUMENTS. REQUESTED WIM'LESS THAN THE ABOVE, NOTICE SHALL BE SUPPLIED BY THE SELLER AS SOON AS'POSSIBLE BbT ABSENCE OF SUCH ADDFIONAL DOCUMENTS DUE TO SHOAT NOTICE SHAU NOT PRECLUDE PAYMEM. 1 1 1 IF REQUESTED BY THE BUYER THE SELLER SHALL HAVE ANY DOCUMENE REFERRED TO IN 11.1 0, (C) ORP) OR 1 ~ 1 ) 2 A&€ VlSAED LN ACCORDANCE WllH THE REQUIREMENTS OF THE COUNIF',V OF DESTINATION ANY WSrS I N C U W IN OBTAINING ADDITIONAL DOCUMENTS IN ACCORDANCE W~TH 11.3 ABOVE AND ANY VISA CHARGES SHAU BE FOR THE BUYERS ACCOUNT. THE SELER SHAU NOT BE RESPONSIBLE IF. FOR REASONS BEYOND HIS CONROL,.ANY ADDITIONAL DOCUMENTS REFERRED TO IN 11.3 ABOVE OR ANY VlSAS ARE UNOBTAINABLE AND INABILITY BY THE SEUERTD OBTAIN SUCH DOCUMENTS OR VISAS SHALL NOT PRECLUDE PAYMENT.

THE BUYER AGREES TO PAY THE SELLER THE FOLLOWING FEES FOR ADDITIONAL DOCUMENE ISSUED BY AWENTICATED GOMRNMENT AUTHOW AND/OR M A T ARE EQUIRED LABORATORY ANALYSIS: A) HEALTH CERTIFICATE AT USSf 00.00 PER SHIPMENT: B) RADIOACTIV~ MEASUR~MENT CERTIFICATE AT ussmoo PER SET OF WCUMENT. CI GSTP CERTlFlCATE OF ORIGINIGSP CERllFlCATE OF ORIGIN FORM A AT USS25.00 PER

SET OF DOCUMENT. Dl PHYTOSANITARY CEPJIFICATE AT USSiO0.W PER SHIPMENT. 0 NON-QMO CERTIFICATE AT US$m,o0 PER SET OF DOCUMENT.

DMER GENERAL DOCUMENTS OR CERnFlCATES M A T ARE NOT REQUIRED LABORATORY ANALYSIS m E R ISSUED BY THE SELLER OR THE MANUFACNRES EACH OF DOCUMENT'OR CERTIFICATE SHAW BE PAID BY THE EWER AT US$ 20.00 PER SET OF DOCUMENT YKTH AN BCEPTION OF RADlOACllVilY MEASUREMENT CERTIFICATE W l C H SHAU BE PAID AT US$ 50.00 PER SET OF DOCUMENT. THE ABOVE-MENTIONED FEES TO BE INCLUDED IN THE COMMERCIAL INVOICE. 1 1 THE SELLERSHALL PREPARE SHIPPING DOCUMENTS ON SIMILAR FORMS AS SOON AS SHIPMENT IS COMPLETED, B m HE SHOULD NOT BE HELD RESPONSIBLE. FOR ANY DELAY, M N G TO THE ABSENCE OF OR DISTANI LOCATION OF CONSULS FROM PORT OF SHIPMENT. 12. TAXATION: 12.1 ANY:TAXES OR LMES IN ME NATURE OF TAXES WICH ARE IMPOSED ON MIS SUGAR BY COUNTRY OF DESTINATION AFFECTING THlS CONIRACT, SHALL BE FOR THE ACCOUNl OF M E E W E R 122 ANY TAMS OR LMES IN THE NATURE OF TAXES WATSOEVER IMPOSED BY THE COUNTRf OF OPJGH AFFECTMG THIS COFmUCT, SHALL BE FOR THE XCCOUNT OF THE SELLER EXCEPT IN CASE OF FREIGHT TAX ON THE OCEAN FREIGM RATE, IF ANY. W l C H

,~H+LLPMOR M FI;OUNT OF THE BUYER 13, A [~PDROE R%Urte: THE PERFORMANCE OF THlS CDNlRACT IS.SUBJECT TO FORCE MAJEURE AS DEFINED BY M E RULES OF THE REFINED SUGAR ASSOCIATION. 14. ARBITRATION: ALL DISPUES ARISING OUT OF THlS CONTRACT ARE HEREBY SUBMnTED TO THE SUGAR ASSOCIATION FOR SmLEMENT IN ACCORDANCE WITH THE ARBrmA 1

NED SUGAR ASSOCIATION MHARED EQUALLY 50% BY THE BWER AN0 50% BY M E

I:@- ",

~ T ~ ~ J o N T R A c T IS SUBJECT TO THE RULES OF THE REFINED SUGAR A3SOCIATK)N AS FULLY AS IF THE SAME HAD BEEN EXPRESSLY INSERTED HEREIN, WHETHER

PI %j ' & & ~ ? L - R OR BoTH OF THE PARTIES ARE MEMBERS, OR ARE REPRESENTED BY A MEMBER OR MEMBERS OF M E REFINED SUGAR ASSOCIATION.

IN CASE OF ANY ALERATION W R I ~ N OR TYPED ON THE. FACE OF mrs CONTRACT WHICH IS INCONSISTENT WTH THE RULES, WCH WITTEN OR nPED ALTERATION SHALL PREVAIL.