1. Scope of application

These delivery and payment terms apply to all business transactions with the buyer, even if no reference is made to them in later transactions. We hereby expressly object to the buyer's conditions of purchase, if any. These shall not become part of the contract unless we have consented thereto in writing; our acceptance ofan order, or delivery by us, shall not constitute a consent. These delivery and payment terms do not apply to private consumers.

2. Conclusion of the contract, characteristics of the goods

Our offers are not binding. Contracts will only be made through our written order confirmation, which shall determine the terms ofthe contract. If we do not confirm an order, the delivery contract is deemed to have been made upon delivery by us.

Descriptions and illustrations of our products shall only be looked upon as approximations. We reserve the right to make alterations to our products priorto delivery, in particulartechnical changes made in the course of our regular updating of products, which, however, may not unreasonably prejudice the interests ofthe buyer.

3. Exclusion of cancellation and return deliveries

The cancellation or amendment of contracts, once concluded, shall require our express consent. The return of delivered goods requires our prior written consent.

4. Passage of risk, transport

Delivery shall be made ex works or ex warehouse. Risk shall pass to the buyer as soon as we have handed the goods over to the carrier, however, at the latest when they leave the works or the warehouse.

We are entitled but in no case, including deliveries abroad, obligated to take out transport insurance. lfthe goods are damaged or lost in transit, the buyer must promptly have the forwarding agent draw up a report of the circumstances.

Unless the buyer gives written instructions the contrary, it shall be for us to decide on the means of transport, the transport route and the transport insurance, without being responsible for choosing the quickest or cheapest possibility.

5. Part deliveries

We are entitled to execute orders in part deliveries, which shall be treated as independent deliveries and which must be paid for separatelywithin the paymentterms named in sec. 8. If paymentfora part delivery is delayed, we can suspend execution of the remainder ofthe order.

6. Delivery period

The delivery period is agreed individually and is indicated on the order confirmation. If this is not the case, the delivery period is about 4 calendarweeks as ofthe date of our order confirmation. The delivery period commences on the date ofour order confirmation, however not before all the details ofthe order have been clarified, in particular not before the buyer has furnished all the documents, permits and releases required, and not before receipt of an agreed down payment. The delivery period is met if, by the time at which it lapses, the goods have been shipped or notification has been given that they are ready for shipment.

If delivery is made impracticable by force majeure, then the delivery date will be extended automatically by the time of the event constituting force majeure, plus an appropriate start-up period. Unforeseeable circumstances which make delivery unreasonably difficult or impossible for us, such as delays in delivery by suppliers, labour disputes, acts of authority, raw material or energy shortages, plant and transport interruptions of all kinds, etc., shall have the same effects as force majeure. lfthese circumstances last more than four months, we have the right to rescind the contract. At the buyer's request, we shall state whether we wish to do the later or to deliver the goods within a reasonable period oftime to be determined by us. The buyer shall not be entitled to claim damages.

If we are responsible for exceeding a delivery deadline, we shall nevertheless not be in default before the buyer has granted us an additional period for delivery of at least 2 calendar weeks and this period lapses without avail. Following this the buyer may rescind the contract.

Claims for damages are restricted to 5 % of the value of the outstaning shipment, however at least to the typical foreseeable damage.

7. Price

The buyer must pay the list price current on the day ofthe order confirmation, unless otherwise agreed in individual cases. If the delivery period is longer than 4 months starting ofthe date of our order confirmation, we can charge the list price valid on the delivery date. The buyer is entitled, to rescind the contract within 14 days after receiving notice of the price increase. To exercise this right, the buyer has to inform us in writing.

Our prices are in EURO and, as the case may be, ex works or ex warehouse.

Prices shall be calculated according to such quantity or such weight, respectively, as is determined by us. The buyer may nevertheless show that the quantity or weight determined by us is wrong. Value added tax and shipping costs, in particular freight, transport insurance, customs duties and customs clearance duties as well as packing charges shall be borne bythe buyer, even if they are not itemized separately.

8. Payment

Unless the contrary is agreed upon in writing, our invoices are payable net within 30 days from the invoice date.

Payments will always settle the oldest invoice. We are not obliged to accept bills of exchange. If we accept means of payment other than cash or transfer, these will only be accepted on account of performance. All payments must be effected free of charges for us. Bank

charges, discount charges and collection charges shall be borne by he buyer, even without express agreement to this effect.

lfthe net payment date has expired, we are entitled to charge interest at a rate of 8 % overthe basic rate of interest of the European Central Bank at the latest from 31st day after receipt of the invoice or similar payment demand.

If after conclusion of the contract, the buyer's financial situation is materially impaired, or if any earlier impairment ofthe buyer's financial situation does not become known to us until after conclusion of the contract, we are entitled to request eitheradvances orthe grant of a propersecurity interest, whicheverwe wish. lfthis request is not met, we have right, afterexpiryofa reasonable period ofgrace, to withhold performance of the contract.

The buyer cannot offset a counter-claim which is disputed by us and which has not become res judicata, nor may he, in respect of such a counter-claim, exercise any right of retention. Payments made to our representatives or employees shall only be effective if a written authority to collect is submitted.

9. Special Productions

Where products are manufactured by us according to the buyer's requirements, specifications, etc. the buyer shall bear sole responsibility for the correctness of the said requirements and specifications. He shall indemnify us against all claims made against us, or against a firm called upon by us, on the basis of industrial property rights or copyrights.

With products made to order, delivery quantities which deviate by + or - 1O % from the quantity agreed shall be deemed to conform to the contract. Our purchase price claim shall increase or decrease accordingly. The details of these orders must be agreed separately.

10. Reservation of ownership

The goods delivered will remain our property until the buyer has paid all claims which we have against him now and in the future. The buyer may in the ordinary course of business process, assemble and sell the goods to which we retain title unless he is in default with or has discontinued payments. He may not pledge, nor create any security interests in the goods. lfthe buyer sells any ofthe goods to which we retain title, then he here and now, and until such time as all our claims against him have been paid, assigns to us his rights against his customers from the sales, together with all ancillary rights, security interests and reservations oftitle. However, the buyer may collect the debts receivable assigned to us, unless he is in default with or has discontinued payments.

lf the value of the goods to which we retain title together with all other security interests conferred upon us exceeds our claims against the buyer by more than 20 %, then we are, upon his request, to release this amount.

If in case of export transactions and at the place of the goods‘ destination, special measures are required for the reservation oftitle orthe assignment to be effective, the buyer must give us notice thereof and must take said measures at his own cost. If, at the place in question, a reservation oftitle and / or any ofthe above-mentioned rights are not possible, the buyer must at his own expense make every effort to confer upon us those security interests in the goods delivered which most resemble these rights, or some other appropriate security interest.

11. Defects

We are only liable for defects in our goods ifthe buyer notifies us in writing thereof without delay, atthe latest 10 days after receipt of the goods. We are not liable for defects that are not notified within the deadlines mentioned above.

Our liability is either limited to the removal ofdefects orto a free of cost replacement of defective goods. Upon request, the defective goods or a sample thereof are to be sent to us first for examination. If it is not possible to deliver defect—free replacements, if we refuse to perform or ifthere are special circumstances which, after taking both parties’ mutual interests into consideration,justifythe immediate enforcement of further legal remedies, or if a reasonable deadline set by the buyer for improvement has expired without result, the buyer is then entitled to rescind the contract or demand a reduction ofthe price.

Any warranty claim of the buyer in regard to defects of quality is subject to a period of limitation of 1 year. The time limitation starts on delivery ofthe goods.

12. Claims for damages

Claims ofthe buyerfor damages resulting from a breach of duty, from tort or for other reasons are excluded unless this is based on intent, gross negligence, injury ofa primary fulfilment obligation, the acceptance of a purchasing risk or a guarantee claim or if we are liable in accordance with the provisions ofthe Product Liability Law or we are responsible for culpable damage which resulted in loss of life, personal injury or damage to health. In all cases claims for damage are restricted to typical foreseeable damage.

In case Derya Makine is none or limited liable in accordance with the above paragraph, any Derya Nakine employee, representative and fellow servant is none or limited liable as well.

13. Applicable law, place of performance, legal venue

The legal relations between the buyer and ourselves shall be governed exclusively by the laws of Turkey. The place of performance for the performances of both contracting parties is 34030 Istanbul, TR Turkey.

All disputes arising out ofor in connection with these delivery and payment terms shall be settled exclusively bythe courts having jurisdiction over 34030 Istanbul, TR Turkey. Alternatively, we have the right to file a suit at the buyer's principal place of business or seat.