Common use of FORMATION AND DISSOLUTION OF RESERVES Clause in Contracts

FORMATION AND DISSOLUTION OF RESERVES. (1) With Zalando’s consent, zLabels may appropriate amounts from the annual profit to the retained earnings to the extent permissible under commercial law and justified in economic terms on the basis of a reasonable commercial assessment. Any other retained earnings pursuant to § 272 (3) sentence 2 HGB formed during the term of this Agreement shall be dissolved upon Zalando’s request and be used in accord- ance with § 302 (1) AktG as amended from time to time to compensate any annual deficit or be transferred as profits. (2) Other reserves, profit carried forward and retained earnings from the period prior to the effective date of this Agreement must not be transferred as profit to Zalando. The same applies to capital reserves irrespective of whether such capital reserves were estab- lished prior to or after the effective date of this Agreement.

FORMATION AND DISSOLUTION OF RESERVES. (1) With Zalando’s consent, zLabels ZFE may appropriate amounts from the annual profit to the retained earnings to the extent permissible under commercial law and justified in economic terms on the basis of a reasonable commercial assessment. Any other retained earnings pursuant to § Section 272 (3) sentence 2 HGB formed during the term of this Agreement shall be dissolved upon Zalando’s request and be used in accord- ance accordance with § Section 302 (1) para. 1 AktG as amended from time to time to compensate any annual deficit or be transferred as profits. (2) Other reserves, profit carried forward and retained earnings from the period prior to the effective date of this Agreement must not be transferred as profit to Zalando. The same applies to capital reserves irrespective of whether such capital reserves were estab- lished established prior to or after the effective date of this Agreement.

FORMATION AND DISSOLUTION OF RESERVES. (1) With Zalando’s consent, zLabels ZMS may appropriate amounts from the annual profit to the retained earnings to the extent permissible under commercial law and justified in economic terms on the basis of a reasonable commercial assessment. Any other retained earnings pursuant to § 272 272 (3) sentence 2 HGB formed during the term of this Agreement shall be dissolved upon Zalando’s request and be used in accord- ance accordance with § 302 (1) AktG as amended from time to time to compensate any annual deficit or be transferred as profits. (2) Other reserves, profit carried forward and retained earnings from the period prior to the effective date of this Agreement must not be transferred as profit to Zalando. The same applies to capital reserves irrespective of whether such capital reserves were estab- lished established prior to or after the effective date of this Agreement.

FORMATION AND DISSOLUTION OF RESERVES. (1) With Zalando’s consent, zLabels Tradebyte may appropriate amounts from the annual profit to the retained earnings to the extent permissible under commercial law and justified in economic terms on the basis of a reasonable commercial assessment. Any other retained earnings pursuant to § 272 (3) sentence 2 HGB formed during the term of this Agreement shall be dissolved upon Zalando’s request and be used in accord- ance ac- cordance with § 302 (1) AktG as amended from time to time to compensate any annual deficit or be transferred as profits. (2) Other reserves, profit carried forward and retained earnings from the period prior to the effective date of this Agreement must not be transferred as profit to Zalando. The same applies to capital reserves irrespective of whether such capital reserves were estab- lished established prior to or after the effective date of this Agreement.

FORMATION AND DISSOLUTION OF RESERVES. (1) With Zalando’s consent, zLabels Metrigo may appropriate amounts from the annual profit to the retained earnings to the extent permissible under commercial law and justified in economic terms on the basis of a reasonable commercial assessment. Any other retained earnings pursuant to § 272 (3) sentence 2 HGB formed during the term of this Agreement shall be dissolved upon Zalando’s request and be used in accord- ance accordance with § 302 (1) AktG as amended from time to time to compensate any annual deficit or be transferred as profits. (2) Other reserves, profit carried forward and retained earnings from the period prior to the effective date of this Agreement must not be transferred as profit to Zalando. The same applies to capital reserves irrespective of whether such capital reserves were estab- lished established prior to or after the effective date of this Agreement.