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ENGAGEMENT LETTER To ALL INTERESTED ORGANIZATIONS 16.02.2011 From ArtEla Law office Re: [Legal services] Dear Sir/Madam I’d like to ask for the meeting with you to discuss your representation by our firm in all legal matters. This letter will confirm the terms of our representation. Our work will begin upon receipt of a signed copy of this letter. “ArtEla” Law office will provide legal services to ALL INTERESTED ORGANIZATIONS and the scope of services we will render, the manner of calculating, billing and collecting legal fees, and other aspects of the proposed representation are mutually agreed to be as follows: Services to be Provided: The firm has been engaged to provide the following services: Physical Persons Consulting Civil Law Criminal Law Administrative Law The Right of Housing Family Law Labor Law Custom Law Land Law Economic Law Intellectual Property Foreign Investment Regulations Real Estate Transactions Construction Regulations Legal aspects of Insurance Legal Regulation of Banking Activities Taxation. Representation of interests at the State Governmental and local self-governmental bodies Legal Representation Preparation of Legal Documents Preparation of Contracts Preparation of Clams and Petitions Preparation of Appeal and Cassation Claims Representation in Courts Representation in Constitutional Court Representation in the European Court of Human Rights. Representation Representation at the state (taxation, custom’s, etc.’s) bodies Representation at the state governmental and local self-governmental bodies Representation in the International Organizations Representation in the embassies. For Legal Entities Registration of legal entities and any kind of legal services for the legal persons; registration, licensing, preregistration, reorganization and liquidation procedures of the organizations. Preparation of documents for the licensing process and legal services Preparation of documents necessary for the processes of competitions, international tenders, and the provision of legal services. Representation of interests at the state and local self-governmental bodies Drawing of contracts and negotiations Trademarks Protection of Intellectual Property Representation in Courts. Legal Services of Bankruptcy Process Maintenance of cases in RA courts. Representation of interests of other persons, as well, the relationship between state governmental and local self-governmental bodies. Consulting National and International law, including sub-legislative acts Foreign legal acts The summary of international legal and judicial acts, and the study of international experience Civil Law Criminal Law Administrative Law Banking Law Family Law Labor Law Legislation on Corporate law Customs and Tax legislation Land Law Foreign investments regulations Economic legislation Construction regulations Legal aspects of insurance Banking and securities market legislation. Corporate offer: make fixed monthly payment and get professional legal assistance. The members of the firm who will be working on your matter are professional lawyers in Armenia. Please feel free to contact any of us for assistance. Fees and Expenses Fees: The fee arrangement, will be based on MONTHLY PAYMENT. Our monthly rates range from 300.000 AMD to 900.000 AMD depending on the depending on the size of the Company and the services our company will provide, and the experience level of the attorney or paralegal as well. Expenses: We may incur various expenses in providing services. You agree to pay all such expenses and to reimburse us for all out-of-pocket expenses that we pay on your behalf. Whenever possible, we will forward bills for any expenses incurred on your behalf directly to you and you agree to make prompt payment directly to the originator of these bills. We agree that if no recovery is obtained, you will owe nothing for legal fees. Even if no recovery is obtained, however, you are responsible for payment of the expenses and charges for other services described above. Expenses incurred on your behalf and that have not been reimbursed prior to recovery will be deducted from the recovery [before or after] the contingency fee is calculated. Statements: The firm bills on a monthly basis for fees and expenses due. Payment is due upon receipt of invoice. Failure to make timely payments may, upon notice, result in the firm’s withdrawal as your attorney in this matter. Documentation I will send you copies of pleadings, documents and correspondence and other information throughout the matter. These copies will be your file copies. I will also keep the information in a file in my office. The file in my office will be my file. Please bring your file to all of our meetings so that we both have all of the necessary information available to us. Once I have completed the legal work necessary to conclude this matter, I will close my file and return any original documents to you. I will then store the file for approximately 15 years. I will destroy the file after that period of time unless you instruct me in writing now to keep it longer. Your Right to Terminate of Representation You may terminate this representation at any time with or without cause by notifying us in writing of your desire to do so. Upon receipt of the notice to terminate representation, we will stop all legal work on your behalf immediately. You will be responsible for paying all legal fees and expenses incurred on your behalf in this matter before the date of written notice of termination was received by our firm. If you terminate the representation before the conclusion of the matter, we will be entitled to receive from the proceeds of any recovery a reasonable fee for the work we have performed, based upon the amount of time required, the complexity of the matter, the time frame within which the work must be performed, our experience, ability, reputation, the responsibility involved and the results obtained. Our Right to Terminate Representation We may terminate our representation (to the extent permitted by the ethical and court rules) at any time if you breach any material term of this agreement or fail to cooperate or follow our advice on a material matter, if conflict of interest develops or is discovered, or if there exists at any time any fact or circumstance that would, in our opinion, render our continuing representation unlawful, unethical, or otherwise inappropriate. If we elect to terminate our representation, you will take all steps reasonably necessary and will cooperate as reasonably required to free us of any further obligation to perform legal services, including the execution of any documents necessary to complete our withdrawal from representation. In such case, you agree to pay for all legal services performed and expenses incurred before the termination of our representation in accordance with the provision of this agreement. If any of the terms stated in this letter is not consistent with your understanding of our agreement, please contact me before signing the agreement. Otherwise, please sign the agreement and return it to me in the enclosed self-addressed, stamped envelope. On behalf of the firm, we appreciate the opportunity to represent you in this matter. If you have questions, please feel free to call me at [telephone number]. Very truly yours, Executive director of the “ArtEla” Law office HEGHINE MANUKYAN M. Bagramyan 311/1, 39, Yerevan, 0019 Work: (37410) 263012 I have read and consent to it. _____________________________ _____________________ [Client] [Date]

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