All disputes arising in connection with the present agreement, or further agreements resulting therefrom, shall be settled in accordance with the Arbitration Rules of the Netherlands Arbitration Institute. The arbitral tribunal shall be composed of one arbitrator/three arbitrators. The arbitral tribunal shall be appointed according to the list procedure. The place of arbitration shall be Rotterdam, Netherlands. The proceedings shall be conducted in the English language. The arbitral tribunal shall decide as amiable compositeur.

In consideration of the terms and obligations of this Agreement, the parties hereto set their hands: