8. Payment terms

Fees shall be paid at the time and in the manner set out in the relevant invoice.

Where the invoice does not state otherwise, fees shall be due and payable on the date falling 30 days after the date of the invoice after which date interest will accrue on any unpaid part thereof in accordance with the terms set out in the relevant invoice.

Where the invoice is silent on the applicable interest rate, interest shall accrue at the rate as determined by the Firm, subject always to applicable law.

9. Costs and disbursements

Unless otherwise agreed between the Firm and a Client, the Firm does not undertake – and the Firm shall not be required - to make disbursements on behalf of a Client.

Costs incurred by the Firm in connection with an Assignment, including transport costs and costs associated with anything other than insubstantial copying or printing assignments, shall be paid or reimbursed by the Client upon demand.

10. Term of Assignment

Each of the Client and the firm may at any time terminate an Assignment.

Any termination by the Firm shall be subject to the ethical rules of Advokatsamfundet (the Danish Bar and Law Society), which prohibit a Danish advokat from terminating an assignment in a manner or under circumstances which will prevent its client from obtaining other legal assistance in due time and without adverse consequences to such client.

In case of the early termination of an Assignment, the Firm shall be entitled to charge the Client for fees and reimbursement of costs accrued until such early termination.

11. Limitation of liability

The Firm’s liability pursuant to general rules of Danish law for any loss, which its advice, actions or inactions may cause a Client shall be subject to the following limitations:

(i) the Firm shall under no circumstances be liable to a Client for loss of earnings, time, profits, goodwill or any other kind of indirect loss;

(ii) the Firm’s liability in respect of an Assignment shall in no event exceed, in the aggregate, DKK 10 million (or the equivalent thereof in any other currency); and

(iii) by instructing the Firm in relation to an Assignment, the Client agrees that it may not direct any claim it may have against the Firm as a result of such Assignment against the individual partners or employees of the Firm, but solely against the Firm and solely on the terms set out above.

12. Advice in respect of Danish law only

The Firm provides legal advice exclusively with respect to Danish law.

If an Assignment involves any law other than Danish law, the Firm may still advise the Client, but the Client agrees and accepts that such advice is limited to advice based on the common sense and general knowledge of the relevant partner or employee of the Firm, and may not be taken or relied upon as legal advice.

The Firm shall not be liable for advice rendered to a Client by any other adviser of the Client, regardless of whether such adviser has been mandated through or with the assistance of the Firm or in any other way recommended by or contacted through the Firm.

13. Insurance

In accordance with the rules of Advokatsamfundet, the Firm is insured against professional liability and has in place a guarantee. The professional liability insurance and guarantee is provided by Tryg Forsikring A/S as insurer.

14. Filing

Unless otherwise specifically agreed, no files (whether electronic or physical) shall be kept by the Firm in relation to any Assignment.

15. Applicable law and complaints

The Firm is subject to the ethical rules of Advokatsamfundet. The rules are available at www.advokatsamfundet.dk. Clients are encouraged to promptly inform the Firm if they are not satisfied with the Firm’s handling of an Assignment, and are entitled to file a complaint about the Firm’s advice, its handling of an Assignment or any fee charged in connection with an Assignment. Such complaints may be filed with Advokatrådet (the general council of Advokatsamfundet) or Advokatnævnet (the disciplinary board of Advokatsamfundet).

These Terms of Business are governed by Danish law. They form the contractual framework for the Firm’s handling of Assignments for Clients, and any dispute arising out of or in connection therewith or otherwise related to the subject-matter of these Terms of Business, including - without limitation - any dispute involving any claim against the Firm on the basis of professional liability, shall be resolved by application of Danish law and be subject to the exclusive jurisdiction of the Danish courts.

April 2021