◆ SpookStack

“RENEWAL. —_— This agreement ‘shall renew ‘automatically on an annual basis for ten (10) years, provided that the minimum ‘quantity - a Minimum" "y specified below shall be realized. For years two to | five, the “Minimum” shall be $100, ,000, 000. 00 in gross bona-fide ~| years six through ‘ten the “aMinimun® shall be ‘$150, 000, ,000. 00 ‘for ae purposes of this ‘provision the. term "bona-fide, offer" “refers. “to offers from socialist People! s Libyan Arab Jamahiriya. For | any ‘purchase orders placed with ‘principal from socialise "| People’ s Libyan Arab Samaniriyeoany product", whether. Or “moe | accepted by Principal. . In the event, that in any year — the | "Minimum" is not realized, Principal may cancel | this agreement upon thirty (30) days written notice to Agent. 6. WAIVER. a a aa The failure of either party to enforce at any time any of | the provisions hereof shall not be construed to be a waiver. of” said provisions or of the right of such party thereafter to || enforce any such provisions. 7. ORAL MODIFICATION INEFFECTIVE. / ! | | eed No renewal or termination hereof or modification or or waiver | of any of the provisions herein contained, or any future repre- | sentation, promise, or condition in connection with the subject — matter hereof shall be binding upon the Principal or the agent | unless made in writing and signed or counter-signed on its be- half by the respective duly authorized agents of either party. | A mere acknowledgement or acceptance of any order inconsistent | with the terms of this agreement or the making of deliveries pursuant thereto, shall not be deemed an acceptance. ‘Or approval of such inconsistent provisions. 8. - RESTRICTIONS ON ASSIGNMENT. | Principal agrees that Agent has the right to assign this | contract at any time to R.L.S.- Enterprises, Inc., a Cayman Island corporation to be formed. Agent agrees to notify Page 3 of 4 Pages