Proper Law
This agreement and the rights of Sponsor or Sponsor's monitor and IBACON shall be construed and
enforced in accordance with the laws of the Federal Republic of Germany.
Modification of this Agreement
This agreement shall not be waived, released, discharged, changed or modified in any manner
except by an instrument signed by the duly authorised officers of each of the parties hereto,
which document shall make specific reference to this agreement and shall express the plan or
intention to modify same.