Common use of PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES Clause in Contracts

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC Global, in order for SBC to own 7% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement (the "Shares"). SBC and SBC Global each hereby agree to accept these Shares. The Shares shall enjoy the same rights as any and all shares directly or indirectly owned by the Founders in the share capital of the Company Pursuant to article 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidence. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC Global, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. (the “Deed of Issuance”) and the execution by Holding Founder A, Holding Founder B and Holding Founder C of a shareholders resolution in which they waive their pre-emption rights with respect to the shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the Founders warrant to SBC and procure the Company to provide SBC with sufficient proof, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's ❑ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day.

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of On [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC GlobalSBC, in order for SBC to own 78% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement (the "Shares"). SBC and SBC Global each hereby agree agrees to accept these Shares. The Shares shall enjoy the same rights as any and all shares directly or indirectly owned by the Founders in the share capital of the Company Pursuant to article 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidenceCompany. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC GlobalSBC, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. in case the Company is a Dutch B.V. (the “Deed of Issuance”) and the execution by Holding Founder A, Holding Founder B and Holding Founder C the other Shareholders of a shareholders resolution in which they waive their pre-emption rights with respect to the shares Shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the Founders warrant to SBC and procure the Company to provide SBC with sufficient proof, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑□Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑□Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's ❑ □ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ 750,- (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on the Program's Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day. In such case SBC will transfer back the shares in the capital of the Company for xxxx consideration.

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders (or their authorised representatives) and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC Global, Global as necessary in order for SBC to own 7% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement in fully paid ordinary shares (the "Shares"). SBC and SBC Global each hereby agree to accept these Shares. The Shares SBC and SBC Global shall each enjoy the same rights as the Founders in respect of any and all shares directly or indirectly owned by the Founders in the share capital of the Company Company. Pursuant to article clause 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate participating in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidenceinjection. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC Global, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. by Founders (the “Deed of Issuance”as applicable) and the execution by Holding Founder A, Holding Founder B and Holding Founder C of a shareholders resolution in which they waive their pre-emption rights with respect to the shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the The Founders warrant to SBC and SBC Global that it will issue, and will procure the Company to provide SBC with sufficient proofproof evidencing, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon of the execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's ❑ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day.,

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC Global, in order for SBC to own 7% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement (the "Shares"). SBC and SBC Global each hereby agree to accept these Shares. The Shares shall enjoy the same rights as any and all shares directly or indirectly owned by the Founders in the share capital of the Company Pursuant to article 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidence. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC Global, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. (the “Deed of Issuance”) and the execution by Holding Founder A, Holding Founder B and Holding Founder C of a shareholders resolution in which they waive their pre-emption rights with respect to the shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the Founders warrant to SBC and procure the Company to provide SBC with sufficient proof, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's ❑ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day.

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC Global, in order for SBC to own 7% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement (the "Shares"). SBC and SBC Global each hereby agree to accept these Shares. The Shares shall enjoy the same rights as any and all shares directly or indirectly owned by the Founders in the share capital of the Company Pursuant to article 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidence. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC Global, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. (the “Deed of Issuance”) and the execution by Holding Founder A, Holding Founder B and Holding Founder C of a shareholders resolution in which they waive their pre-emption rights with respect to the shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the Founders warrant to SBC and procure the Company to provide SBC with sufficient proof, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance ฀Issuance of shares in a Dutch BV requires a notarial executed by a civil law notary employed with Xxxxx xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's ฀ lawyer if deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance ฀Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor B.V. Please contact SBC's ❑ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day.

PARTICIPATION IN THE PROGRAM AND ISSUANCE OF THE SHARES. 1.1. On [DATE] the Founders and the Company signed a MOU in which SBC, the Founders and the Company confirmed their mutual understanding on the possible participation by the Company in the Program. By e-mail of [DATE] SBC granted the Company the right to participate in the Program and the Company accepted by e-mail of [DATE] the right to participate in the Program. 1.2. The Company hereby agrees to issue as many shares to SBC and to SBC Global, in order for SBC to own 7% and for SBC Global to own 1 %, each of the fully diluted share capital of the Company at the execution of this Agreement (the "Shares"). SBC and SBC Global each hereby agree to accept these Shares. The Shares shall enjoy the same rights as any and all shares directly or indirectly owned by the Founders in the share capital of the Company Pursuant to article 1.2 SBC and SBC Global will hold 8% of the shares in your Company in exchange for you and your Company to participate in the Program. We 'accelerate' your business by providing intensive mentoring, office space, international PR, legal and tax advice, sponsor deals and a capital injection of EUR 15,000. Therefore, by teaming up with SBC the value of your Company will increase significantly. It is of course possible you would get there on your own, but not with the speed and accuracy that SBC can provide. Getting into the Program of SBC means you matter. Investors, the media, and even potential clients will pay more attention to you because of the SBC’s vote of confidence. 1.3. The Founders shall procure that the Company shall undertake all actions - at its own costs - required to effect the issuance of the Shares to SBC and SBC Global, immediately upon the execution of this Agreement, including but not limited to the execution of the deed of issuance of shares before a civil law notary employed with the firm Xxxxx van de Ven Notariskantoor B.V. (the “Deed of Issuance”) and the execution by Holding Founder A, Holding Founder B and Holding Founder C of a shareholders resolution in which they waive their pre-emption rights with respect to the shares to be issued to SBC and SBC Global. If the Company is not a Dutch B.V., the Founders warrant to SBC and procure the Company to provide SBC with sufficient proof, evidencing the legally valid issuance of the Shares to SBC and SBC Global within 10 days upon execution of this Agreement. Such evidence consists of at least (i) a share certificate, (ii) a legal opinion of the Company’s local attorney-at-law to that effect and iii) a certified copy of the updated shareholders register’of register’ of the Company including the shareholdings of SBC respectively SBC Global. If your Company is not a Dutch BV, SBC will need to be presented with sufficient proof evidencing the actual issuance of the shares to SBC. Such evidence consists of at least i) a share certificate, ii) a legal opinion of your local attorney and iii) a copy of the updated shareholders register. In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's In exchange for participating in the Program, you will need to issue as many shares in your Company to SBC and SBC Global in order for SBC and SBC Global to hold 8% of the shares. These shares will be paid up by SBC who will pay EUR 15,000 into the Company's bank account, resulting in a cash injection for the benefit of the activities of your company. ❑Issuance of shares in a Dutch BV requires a notarial deed, which will need to be executed by a civil law notary employed with Xxxxx van de Ven Notariskantoor xxx xx Xxx Xxxxxxxxxxxxxx B.V. Please contact SBC's ❑ lawyer if you have any further questions concerning the issuance of shares. The notarial costs related to a deed of issuance of shares in a Dutch limited liability company is EUR 750,­ 750,- (ex VAT and registration costs of the local chamber of commerce). For the avoidance of doubt we note that these costs are for the account of the Founders. Should the Company be incorporated under the laws of England or the USA, the Founders can coordinate the issuance of the shares to SBC themselves. From this respect Certa Legal Advocaten B.V. can assist you with any queries you may have. 1.4. At its sole discretion, SBC shall have the right, to require the Founders and the Company to leave the Program at any time. The Company shall be present on Demo Day on [DATE] ("Demo Day") but at its sole discretion, SBC has a right to deny the Company to be present if SBC is of the opinion that Company does not meet the quality level and standard required for a company in its program to be present at Demo Day.