These terms of business apply to all assignments carried out by Damkjær Lauritzen I/S (the “Law Firm”) unless otherwise explicitly agreed.

Under Clause 21 of the Danish Bar and Law Society’s Code of Conduct, the Law Firm is required to provide its clients with information on a number of specific issues. This information is included in these terms of business.

1. The Law Firm

The Law Firm is operated under the following names:

• Damkjær Lauritzen Advokatfirma I/S
• Damkjær Lauritzen Advokatfirma
• Damkjær Lauritzen.

The Law Firm has its office at the address Kompagnistræde 6, 3rd floor, Copenhagen K, Denmark and may be contacted on:

• (+45) 22 42 07 02
• E-mail: kontakt@damkjaerlauritzen.dk
• Webpage: damkjaerlauritzen.dk

The Law Firm is organized as a partnership and is registered with the Danish Business Authority with company registration number (CVR) 41071354.

All lawyers of the Law Firm are admitted to practice law by the Danish Civil Affairs Agency and are registered with and members of the Danish Bar and Law Society.

2. The assignment

The Law Firm accepts and solves assignments under observance of the Danish Administration of Justice Act (in Danish: retsplejeloven), the provisions of the Danish Bar and Law Society’s Code of Conduct and otherwise applicable law.

The Law Firm advises on Danish law only.

Upon receipt of an assignment, the Law Firm and the client agree on the scope of the Law Firm’s assistance. The agreed scope may be adjusted or changes during the assignment.

In connection with the Law Firm’s receipt of the assignment, the Law Firm checks whether legal aid may be obtained under public schemes or insurance pursuant to applicable law or insurance taken out by the client.

If the Law Firm’s fee is to be paid preliminary og finally by the public authorities or an insurance company, the client will receive information on the principles for determining the fee and the consequences for the client.

The Law firm handles an accepted assignment until its settlement unless otherwise has been agreed.

The Law Firm’s advice is exclusively aimed at the specific assignment and may not be used for any other purpose without the Law Firm’s prior writing consent.

The Law Firm is only responsible towards the client for the provided advice unless otherwise has been explicitly agreed.

The client may at any time terminate the cooperation with the Law Firm. If so, the Law Firm is entitled to fees and reimbursement of costs until the date of the cooperation’s termination. The Law Firm may terminate the cooperation with the client in accordance with clause 68 of the Danish Bar and Law Society’s Code of Conduct.

Upon termination of the cooperation between the Law Firm and the client, the Law Firm normally hands over all original documents of the case to the client no later than upon the assignment’s completion. The Law Firm keeps case files in at least five years from the assignment’s completion.

3. Conflicts of interest

Upon receipt of an assignment, the Law Firm checks whether any conflict of interest or loyalty exist which prevents the Law Firm from accepting the assignment.

4. Confidentiality

The Law Firm treats all information in relation to assignments and clients confidential unless it follows from the circumstances that the information is not of a confidential nature.

The Law Firm’s duty of confidentiality applies with respect of provisions imposing a duty of disclosure on lawyers vis-à-vis public authorities.

5. Clients’ funds

The Law Firm handles clients’ funds in accordance with the rules set forth by the Danish Bar and Law Society.

Amounts paid by clients to the Law Firm are deposited in the Law Firm’s general client account with Danske Bank. If the Law Firm opens a specific account for a client, the client will be informed hereof.

The Law Firm assumes no responsibility for amounts deposited in the Law Firms client accounts.

Clients’ amounts deposited in the Law Firms client accounts are protected under the provisions of the Act on a Depositor and Investor Guarantee Schemes. The protection is limited to an amount of EUR 100,000 per client per bank. The limit applies for the client’s total deposit in the specific bank. If the client in addition to deposits on the Law Firm’s client account has other amounts deposited in the same bank, the limit applies for the aggregated deposited amount.

6. Fees and costs

The Law Firm’s fees are determined based on an overall assessment. In the assessment the following are taking into consideration: the amount of time used by the Law Firm, the complexity of the assignment, the liability involved in the assignment, the significance and value of the assignment for the client, and the success of the assignment.

The fees are subject to VAT unless otherwise provided by applicable law.

Upon request, the Law Firm provides an estimate of the fee which will be invoiced for the assignment.

The Law Firm’s services will normally be invoiced monthly in arrears unless otherwise agreed. The Law Firm may may require advance payment of fees and other expenses before work is commenced.

Terms of payment is 21 calendar days from the date of invoice.

In case of late payment, default interest will be charged as prescribed in the Danish Interest Rates Act (in Danish: renteloven).

The client is charged for expenses paid and costs incurred in connection with the assignment.

7. Liability and insurance

The Law Firm is liable for damages under the general rules of Danish law, subject to the following limitations:

For any given assignment, the Law Firm’s liability cannot exceed an amount equal to 10 times the fee for the assignment, and in no case DKK 5m.

Claims for damages may only be raised against the Law Firm and not against the individual partners or employees of the Law Firm.

The Law Firm is not liable for any indirect loss. This includes inter alia operating loss, loss of time, loss of profit, loss of goodwill, and loss of data.

The Law Firm is not liable for any advice rendered by sub-contractors notwithstanding that such sub-contractors have been retained by the Law Firm or with the Law Firm’s assistance.

The Law Firm has taken out professional liability insurance and has provided a guarantee in accordance with the rules of the Danish Bar and Law Society. Our liability insurance covers any legal practice, regardless of where the practice is being conducted.

The Law Firm’s liability insurance and guarantee have been taken out with HDI Global Speciality SE, Indiakaj 6, 1. sal, 2100 København Ø.

8. Intellectual property rights

Unless otherwise agreed, intellectual property rights in materials prepared by the Law Firm belong to the Law Firm.

9. Personal data

Information on the Law Firm’s processing of personal data on clients, counterparts and other physical persons is set forth in the Law Firm’s Personal Data Policy which may be accessed on the Law Firms webpage at www.damkjaerlauritzen.dk.

10. Marketing

The Law Firm is in its marketing entitled to refer to an assignment when the assignment is completed, provided that the assignment is known to the public

11. Complaints, choice of law and jurisdiction

Any dispute relating to the Law Firm’s advice is governed by Danish law and is subject to the exclusive jurisdiction of the Danish courts.

The Law Firm is subject to Danish Bar and Law Society’s ordinary rules on complaints and to the provisions on legal ethics, cf. section 126 of the Danish Administration of Justice Act (in Danish: retsplejeloven). In addition, the Code of Conduct laid down by the Danish Bar and Law Society applies.

The rules applicable to operating law practice may be accessed on the webpage of the Danish Bar and Law Society, www.advokatsamfundet.dk.

The Disciplinary Board of the Danish Bar and Law Society may settle complaints over the Law Firm, including with regard to the Law Firm’s fee. The address of the Disciplinary Board is Kronprinsessegade 28, 1306 København K, and its webpage address is ww.advokatnaevnet.dk.