Algemene Voorwaarden

GENERAL TERMS OF DELIVERY AND PAYMENT OF THE:

Next Foods B.V.

Energieweg 32

3771 NA BARNEVELD

The Netherlands

Listed in the Commercial register of Utrecht under number 66140285. These terms have been

filed with the Chamber of Commerce and Industry of Utrecht.

Article 1: Applicability of the terms

1.1 These General Terms of Delivery and Payment (the terms) shall apply to all offers,

agreements, sales and the deliveries of goods by the Next Foods B.V. with its statutory

seat in Barneveld (the User) to any Other Party (the Other Party)

1.2 If the agreements reached by the User conflict with these terms, the arrangements in the

appropriate agreement shall prevail.

1.3 Applicability of the general terms used by the Other Party is hereby explicitly dismissed.

If the Other Party wishes to deviate from the terms of the User, this must be stated

explicitly in writing.

1.4 If the User engages third parties in performing the contract concluded with the Other

Party, these terms shall also apply.

Article 2: Tenders and Orders

2.1 All tenders submitted by the User in any form whatsoever are free of obligation and do

not constitute an obligation to deliver for (thirty) days from the date they are sent to the

Other Party. The mere acceptance of a tender by the Other Party does not, therefore,

constitute a contract.

2.2 If the User sends the Other Party a sample for approval, the Other Party has (five)

business days following receipt of the sample to approve it in writing. If no written

response is forthcoming from the Other Party within this period, the tender from the User

or the engagement entrusted to the User shall lapse.

2.3 Delivery times and other time limits mentioned in the tender for the User are rough and

only informative; exceeding them shall not entitle the Other Party to claim damages or

dissolution.

2.4 Unless stated otherwise, the prices indicated by the User are exclusive of transport, BTW

(VAT) and other government levies.

2.5 The User reserves the right to revoke a tender it has made up to five business days after

receipt of its acceptance. If it invokes this authority, no agreement shall come about.

2.6 The User shall in all cases be entitled to modify the specifications as indicated in its

tenders.

2.7 No agreement shall be binding on the User, not even when an offer has been made by

him and accepted by the Other Party, until the User has confirmed the Other Party’s order

in writing. [If delivery immediately follows the order, the User's invoice shall also count

as a written confirmation of the contract.] An agreement made verbally shall only be

binding on the User if confirmed by the User in writing.

2.8 No modification of and/or addition to an agreement shall be binding on the User until he

has expressly agreed to such modification or addition in writing.

Article 3: Prices and Change of Prices

3.1 Prices exclude transport costs, turnover tax and all other taxes and levies, unless stated

otherwise, all of which will be charged to the principal, pursuant to the law or the

stipulations of the contract.

3.2 All prices quoted by the User are subject to the provision that the User shall have the

right to increase the quoted price by the additional expenses arising for him from the fact

that after he made the offer but prior to the conclusion of the agreement there is a rise

in the price of price-determining elements such as the official market quotations of the

goods to be delivered or of the base materials therefor, purchase prices, the cost of

transport and storage, packing charges, wages, taxes and social insurance contributions,

insurance premiums and the like.

3.3 Prices are based on exchange rates applicable at time of quotation. The User reserves the

right to revise pricing upon receipt of a formal purchase order if exchange rate has

fluctuated more than ten percent from applicable rates at time of the quote.

3.4 The User explicitly states that if the purchase price is expressed in foreign currency and

the value of that currency changes (in the negative sense for the User) [by ten percent or

more] in relation to the Euro after the contract has been signed, the purchase price will

be increased in such a way that the value in Euros will be equivalent to the price that was

valid when the contract was signed.

Article 4: Delivery

4.1 The Other Party must take delivery of the purchased goods at the time they are delivered

to it or at the time they are made available to it under the contract.

4.2 If the Other Party refuses to take delivery or fails to provide information or instructions

necessary for the delivery, the goods shall be stored at the Other Party's risk. In that case,

the Other Party will owe the additional costs, including in any case the storage costs.

4.3 Unless agreed otherwise in writing, delivery shall be CPT - Carriage Paid To (named place

of destination), pursuant to the Incoterms 2010. The risk transfers to the Other Party the

moment that the goods have been delivered to the first carrier. ‘Carrier’ means any

person who, in a contract of carriage, undertakes to perform or to procure the

performance of transport by rail, road, air, sea, inland waterway or by a combination of

such modes.

4.4 The User will observe the delivery period as carefully as possible. Exceeding the delivery

period, for whatever reason, does not entitle the Other Party to damage compensation

or annul the contract or exempt the Other Party from his/her obligations.

4.5 The delivery dates given by the User are always approximate and may never be regarded

as mandatory. Only if a delivery time has explicitly been agreed in writing as strict, is the

Other Party entitled to dissolve the agreement, if the User has not supplied the items

ordered according to this deadline, but only after the Other Party sends a registered letter

giving the User a reasonable period to meet its obligations after all.

4.6 The method of packaging shall, in the absence of any additional written agreement, be

determined by the User.

Article 5: Payment

5.1 Payment of invoices is due within (thirty days) of the invoice date, unless explicitly agreed

otherwise in writing. Payment is to be deposited or transferred to a bank or giro account

indicated by The User, in Euros and including VAT. The settlement date indicated on the

bank/giro statements of the User shall be decisive in determining the date of payment.

5.2 The Other Party is not entitled to any suspension or settlement unless stated in writing

by the User.

5.3 If the amount due according to the invoice is not paid on time, the Other Party shall be in

default, without any demand or prior notice of default being required, and shall owe the

User the statutory commercial interest pursuant to Article 6:119a of the Dutch Civil Code

(Nederlands Burgerlijk Wetboek) from the date the invoice becomes payable to the User.

5.4 Claims from the User against the Other Party, on any ground whatsoever, are in any case

payable immediately and in full and without any notice of default or announcement in

the following cases:

- if the Other Party fails to meet any obligation (or fails to do so on time) arising from

any agreement concluded with the User;

- if the buyer has been declared bankrupt or has applied for bankruptcy or a

suspension of payments, or if the Other Party has suspended payments;

- if the Other Party requests a debt rescheduling arrangement or is declared subject

to a debt rescheduling arrangement or has requested to be placed in receivership;

- if any of his items have been seized;

- if the buyer dies, is being wound up or states that he will discontinue or has

discontinued his operations;

- upon the transfer of his business or part thereof, including merging the company

in one that is to be established or already exists or (partial) transfer of control in

the company.

5.5 Setting off mutual debts and claims is excluded at all times.

5.6 If the User made extrajudicial costs of collection that go beyond sending some (possibly

repeated) summons or just doing a - not accepted – settlement proposal, requests for

simple information or the usual manner compiling the file, these costs shall be entirely at

the expense of the Other Party.

Article 6: Retention of Title

6.1 As long as they are distinguishable as separate entities, the goods delivered will remain

property of the User until the Other Party has fulfilled all its obligations in relation to the

User, including any obligation to pay interest, expenses or damages.

6.2 If the same type of goods delivered are specified on one or more unpaid invoices, the

goods held by the principal are regarded as having been delivered on the basis of the

unpaid invoices.

6.3 The Other Party is required to treat items that have been supplied subject to retention of

title with care and to retain them as identifiably the property of the User, until ownership

has been transferred to him.

6.4 The Other Party is entitled to sell the goods that have been delivered and are property of

the User to third parties in a legal manner or to process them in the normal performance

of his/her profession.

6.5 The User shall be entitled to enforce the rights ensuing from the retention of ownership

as soon as the Other Party defaults on its payment and/or other obligations vis-à-vis the

User. The enforcement of the retention of ownership shall apply, unless otherwise

agreed, as dissolution of the contract, without prejudice to the right to compensation of

costs, losses and interest, including loss of profit on the part of the User.

Article 7: Inspections

7.1 The Other Party is bound to subject the goods delivered to a thorough and expert

inspection as to quantity, quality, completeness and soundness immediately after their

delivery. Any defects detected on such inspection must be notified to the User either in

writing or verbally immediately followed by written confirmation, in the case of

nonfrozen goods within twenty-four (24) hours and in case of frozen goods within

seventy-two (72) hours and in case of other goods within seven (7) calendar days of

delivery. When notifying a complaint the Other Party must submit an inspection report

drawn up by an authorized and independent expert which confirms the complaint. Noncompliance

with these duties of inspection and notification shall result in the extinction

of all rights in connection with defects which could have been detected upon a thorough

and expert inspection.

7.2 The Other Party is required upon the first such request from the User to return to the

User the allegedly defective items within five business days after sending the complaint

and at its own expense and risk, packaged in the same manner as by the User.

7.3 Submitting a complaint shall never be any ground for suspending or settling the payment

obligations the Other Party has toward the User or for dissolving (the) agreement(s).

7.4 If a complaint is deemed justified by the User, the User shall supply substitute items or

services, if such is possible, or, if that is not possible, the Other Party shall be credited the

amounts invoiced to him. The User shall not be required to perform other services or to

pay compensation for damages.

7.5 The User shall not be required to supply substitute products or to reimburse the invoice

value, if the defective products have not been provided to the User on time, and/or the

Other Party has not strictly observed the instructions for storing the products delivered,

either causing spoilage or having made it possible and/or as a result of which the accuracy

of the complaints expressed by the Other Party can no longer be investigated.

Article 8: Liability and indemnification

8.1 Except in the case of legal liability pursuant to provisions of mandatory law and a

deliberate act or omission, or gross negligence on the part of the User, any liability of the

User for any damage, among which any direct or indirect damage, consequential damage

or lost profits, is excluded.

8.2 In the event that it is established by law that the User, despite the provision in the

previous section, is liable for the damages meant there, its liability shall at any rate be

limited to the amount that its Insurance would pay out or, if there is no insurance cover,

for whatever reason at all, to the invoice value of the items or services it provided that

relate to its liability.

8.3 The User specifically exclude any liability in the event that the Other Party uses the

supplied goods as a component or ingredient for other products or foodstuff

manufactured by the Other Party itself or clients or a third party of the Other Party.

8.4 To the extent that goods supplied by the User come with an extreme expiration date

(t.h.t.-code), the User exclude any liability on consumption or the use of these products

after the expiry of that date. The Other Party shall guarantee that goods supplied by the

User after the expiry of the extreme expiration date would not be processed or sold. The

Other Party shall indemnify the User explicitly in respect of third parties claims by virtue

of damage that is the result of the use of i.e. the consuming of goods supplied by the User

if these goods are processed, used, consumed or sold by the Other Party after the expiry

of the extreme expiration date.

8.5 Recall: In the event of a recall of the supplied goods instigated by the User or a competent

authority, the Other Party shall in consultation with the User take all necessary actions

that are appropriate in the circumstances. These may include, without limitation, to stop

delivery of the supplied goods and to recall the supplied goods from warehouses,

distributors and retailers. The Other Party shall not interfere with the recall proceedings,

which shall be controlled by the User or a competent authority only, and shall not make

public any actual or planned recall of the supplied goods, except as provided by applicable

mandatory law or as instructed by the User.

Article 9: Force Majeure

9.1 The User shall not be liable for a failure to perform any of the User’s obligations or

deemed in breach thereof, if the User shows that the failure was due to an impediment

beyond the control of the User. The occurrence of such an event relieves the User from

damages, penalties and other contractual sanctions.

Such events shall include in particular, but shall not be limited to strikes, lockouts, labour

disputes, interruptions of operations, explosion, fire, natural disasters, governmental

measures and restrictions imposed by national or foreign authorities, confiscation,

embargoes, currency restrictions, lack of transport, veterinary diseases, malicious

tampering, acts of terror, environmental measures and defective or delayed supplies

from sub-contractors.

Further, it postpones the time for performance for such period as may be reasonable,

thereby excluding the Other Party’s right, if any, to terminate or revoke the contract.

Article 10: Guaranty

10.1 Guarantees for items purchased elsewhere by the User shall be given, only if and to the

extent that the manufacturer/supplier concerned actually issues a guarantee, unless

explicitly agreed otherwise in writing between the Other Party and the User.

10.2 Unless agreed otherwise in writing, the guarantee shall cover only replacement of the

items or services concerned or crediting of the invoice amount as meant in Article 7.4. All

damages, both direct and indirect, arising from the items supplied or services rendered

by the User being unfit for their purpose or defective, are excluded from the guarantee.

10.3 Claims under a guarantee shall lapse, if the items have not been used according to the

instructions from the supplier or The User, if what is supplied is used for purposes other

than the normal ones, if the supplied goods passed the expiry of the extreme expiration

date, or if what is supplied is treated, stored or used improperly.

10.4 If the Other Party fails to fulfil his obligations, the User shall be relieved of its (guarantee)

obligations as a consequence.

10.5 Guarantees lapse in the event of untimely or improper inspection or complaint, as meant

in Article 7.

Article 11: Dissolution of the Contract

11.1 The User shall be entitled by the simple occurrence of the circumstances below, without

any warning or notice of default or judicial intervention being required, either to dissolve

the agreement entirely or in part and to reclaim what was supplied as its property, and/or

to demand full payment of any amount that the Other Party owes the User, all without

prejudice to the right of the User to compensation for damages, if:

- the Other Party fails to comply, does not comply in good time or does not comply

correctly with any obligation he has toward the User;

- the Other Party is declared bankrupt, or an application has been submitted to this

effect, applies

- for suspension of payments, or has suspended payments;

- the Other Party requests a debt rescheduling arrangement;

- all or part of the assets of the Other Party are or have been seized;

- if after conclusion of the contract, the User has come to know about circumstances

that give the

- User good reason to fear that the Other Party will not fulfil its obligations;

- if the User had asked the Other Party upon concluding the contract to provide

security for its performance and this security has not been provided or is

insufficient despite a warning;

- the company of the Other Party is dissolved or wound up;

- the Other Party proceeds to cease or has already ceased his operations, the transfer

of his

- company or part thereof, including merging his company with a company to be

established

- or already existing, and (partial) transfer of control in the company, with the Other

Party not yet having fulfilled all his obligations toward the User.

Article 12: Confidentiality

12.1 The parties agree to treat and hold the information it receives from the other party (in

any form whatsoever) and any other information concerning the other party of which

they know or reasonably suspect this information is secret or confidential strictly secret

and confidential and undertake the following obligations with respect there to:

- to use the confidential information only for the purpose of fulfilling their obligations

under the contract;

- not to disclose the confidential information or to make it available to others without

the prior written permission of the owner of the information;

- to limit the dissemination of the confidential information only to those of the parties’

employees who have to need to know the confidential information in order that the

parties may perform their obligation under the contract;

- take the necessary measures to ensure that the parties staff will keep the information

secret.

Article 13: Penalty clause

13.1 if the Other Party violates Article 12 (Confidentiality), the Other Party forfeits, irrespective

of whether the offense is attributable to the Other Party without notice or legal

proceedings on behalf of the User an immediately payable fine of €10.000 (ten thousand

euro) for each offense and in addition an amount of €1.000 (thousand euro) for each day

that the violation continues, without there having to be some kind of damage, and

without prejudice to any other rights of the User, including his right to claim damages in

addition to the fine.

Article 14: Right of Action

14.1 All claims of the Other Party against the User, whether under tort or on any other basis,

expire when a period of one year has elapsed since the date on which the Other Party

became aware or could reasonably have known of the existence of these claims and these

claims were not brought before court by the Other Party within the period of one year.

Article 15: Applicable Law and Jurisdiction

15.1 All agreements concluded with the User to which these terms apply are exclusively

subject to the law of the Netherlands.

15.2 Disputes about or in connection with the agreement including its conclusion shall be

submitted exclusively to the jurisdiction of the court of competent jurisdiction within the

District in which the User is established. The User is authorized, however, to submit

disputes to another competent court in the Netherlands or foreign court.

15.3 The provisions of clause 15.2 leave intact the right of the User to obtain a settlement in

accordance with the Arbitration Rules of the Netherlands Arbitration Institute by one or

more arbitrator(s). The place of arbitration will be Rotterdam, the Netherlands. The

arbitral procedure shall be conducted in the English language. Consolidation of the

arbitral proceedings with other arbitral proceedings, as provided for in Article 1046 of the

Dutch Code of Civil Procedure and Article 39 of the Arbitration Rules of the Netherlands

Arbitration Institute, is excluded.

Article 16: Final Stipulations

16.1 The User is entitled at all times to change or adapt these terms of delivery.

16.2 If one of the stipulations in these terms is not legally valid, the remaining stipulations

remain in force and the nullified or invalid stipulation will be replaced with a valid

stipulation that corresponds most closely with the nullified or invalid stipulation.