GENERAL CONDITIONS OF SALE RELATING TO

INTERNET SALES BY PIPA TO CONSUMERS

The general conditions of sale apply between the following parties:

PIPA TRADING BVBA (hereinafter PIPA), a company under Belgian law, with its registered office at Eentveldstraat 18,
9910 Knesselare, in Belgium (also referred to as: the business address),
registered with the Crossroads Bank for Enterprises under number 0885.597.924;

And:

the Purchaser, as defined hereafter;

Preamble

PIPA is an enterprise that is known worldwide as a seller of pigeons and which has a website (www.pipa.be), on which the sale of pigeons is organized by means of a
bidding system or a so-called auction.

A Consumer, as defined hereinafter, is able to bid by means of the PIPA online bidding system if, prior to the time of the auction, they are registered with PIPA and are
recognized as a bidder by PIPA.

The present Conditions of Sale govern the online sales by PIPA to the Purchaser, as defined hereinafter.

Definitions

The following terms which are highlighted with a capitalized first letter have the following meaning:
Consumer: a natural person who acts for purposes which are not related to their professional or their commercial activities.

Pigeon: the pigeon or pigeons which are identified in the purchase offer which is sent out to the Purchaser, as defined hereinafter, by means of the Website, as
defined hereinafter.

Young Pigeon: a pigeon or pigeons which is/are at most one year old at the start time of the auction period.

Purchaser: a Consumer who is registered with PIPA as a bidder and is recognized as a bidder by PIPA prior to or during the auction.

Conditions of Sale: these present conditions of sale

Website: www.pipa.be

Clause 1 Object
The purpose of the Conditions of Sale is to determine the terms and conditions under which PIPA sells the Pigeon to the Purchaser.

The Conditions of Sale apply to all internet sales made by PIPA to a Purchaser.

Clause 2 Establishment of a purchase agreement between PIPA and the Purchaser

2.1. The offer is sent out by the Purchaser
The description of a pigeon or pigeons and/or the photos of a pigeon or pigeons on the Website are merely invitations which are sent out by PIPA for the receipt of
binding purchase offers; in no event do they create a binding offer to sell on the part of PIPA.

The Purchaser who wishes to purchase a pigeon that is described and/or shown on the Website, must place a binding offer to PIPA by means of the Website, prior to
the expiry of the bidding period indicated on the Website (for the procedure: www.pipa.be), with indication of the price offered. This offer is binding on the
Purchaser.

The Purchaser is aware that PIPA is not obliged to accept this offer, even in the event in which this offer is the highest offer which has been received by PIPA during
the respective bidding period.

PIPA reserves the right at all times to request additional information from the Purchaser following receipt of the offer from the Purchaser.

2.2. Establishment of a purchase agreement

The purchase agreement between PIPA and the Purchaser is then established at the moment in which PIPA accepts the offer of the Purchaser for the purchase of the
Pigeon. PIPA will send out a confirmation e-mail to the Purchaser within 48 hours of acceptance of the aforementioned offer of the Purchaser.

Clause 3 Obligation to deliver of PIPA

The identity of the Pigeon, subject to proof to the contrary of the Purchaser, is adequately demonstrated by PIPA by means of a pedigree/family tree and the ring
card (with the exception of those countries in which the same is not foreseen by a Federation, such as the Koninklijke Belgische Duivenliefhebbersbond VZW [Royal
Belgian Pigeon Fanciers Federation] or by an equivalent foreign entity, in which case the leg ring will demonstrate the identity of the Pigeon). The aforementioned
documents, unless otherwise agreed, are transferred by PIPA to the Purchaser either at the time of the delivery of the Pigeon or shortly after the delivery by
mail.

In view of the nature of the good that is being sold, being that it is a living animal, the Purchaser recognizes that the eventual infertility or reduced fertility of the

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 Pigeon, notwithstanding the efforts undertaken by PIPA in this regard and as detailed hereafter, does not have any influence on the conformity of the delivered
product;

In view of the nature of the good that is being sold, being that it is a living animal, the Purchaser recognizes that the perfect health of the Pigeon, notwithstanding
the efforts undertaken by PIPA in this regard and as detailed hereafter, is not required for the fulfilment on the part of PIPA of their delivery obligations.

Clause 4 Remaining obligations of PIPA

4.1. Health/Condition
PIPA commits to impose an obligation upon its supplier(s)/pigeon fancier(s) to deliver the Pigeon in good condition. A pigeon in good condition shows:

Normal white ceres

Has sufficient muscle tissue next to the breastbone
Has a pale pink throat without mucus
Shows glossy plumage
Gives an impression of vitality.

Furthermore, PIPA commits to request of its supplier(s)/pigeon fancier(s) proof of vaccination against the paramyxovirus, and this within a period of less than six
months prior to the conclusion of the auction period.

4.2. DNA-certificate
4.2.1. In the event in which the sale deals with a Young Pigeon:

Subject to indication to the contrary on the Website in relation to a specific auction, PIPA commits to deliver a DNA-certificate, as hereinafter described, to the
Purchaser no later than upon delivery of the Young Pigeon, which is the object of the purchase agreement.

This DNA-certificate shows, with a high degree of certainty, the genetic relationship between the Young Pigeon and its parents or one of its parents (in the event in
which only one of the parents is relevant or is available). The aforementioned DNA-certificate cannot be delivered in the event in which both of the parents, or the
relevant parent, are/is predeceased or are/is not available.

4.2.2. In the event in which the sale does not concern a Young Pigeon:

In the event in which one is dealing with a pigeon that has a purchase price exceeding 25,000 Euros, the Purchaser is entitled, within the first 24 hours of the
conclusion of the auction period, to send an explicit written request to PIPA (by e-mail to: sales@pipa.be) for the delivery of a DNA-certificate. In the
aforementioned case, PIPA will instruct the pigeon fancier/supplier to breed a child in view of the preparation of a DNA-certificate.

This DNA-certificate shows, with a high degree of certainty, the genetic relationship between the individual pigeon, which is the object of the purchase agreement,
and the child that was bred of the relevant pigeon following the conclusion of the auction period. This DNA-certificate therefore demonstrates that the individual
pigeon, which is the object of the purchase agreement, is fertile. The Purchaser declares that they are aware that the preparation of a DNA-certificate will require
approximately 14 weeks.

4.2.3. In the event in which the DNA-certificate indicated in Clause 4.2.2 is not transmitted to the Purchaser within sixteen weeks following notification of the request
of the same by the Purchaser to PIPA, the Purchaser is then entitled to withdrawn from the purchase of the relevant pigeon, which is the object of the purchase
agreement. In the aforementioned case, within seven business days of the written notification (sent by e-mail to: sales@pipa.be) made by the Purchaser to PIPA of the
decision to withdraw from the purchase, PIPA is required to reimburse the purchase price to the Purchaser insofar as the same has already been paid to PIPA. In the
aforementioned case, the Parties reciprocally declare that no further compensation can be sought.

4.2.4. In the event in which the Purchaser does not request a DNA-certificate, as described in Clause 4.2. 2within the aforementioned time period of 24 hours, PIPA
can at no time be held to pay for damages suffered by the Purchaser which are contingent on information that might have been contained in the DNA-certificate, had
the same indeed been requested.

4.2.5. The Purchaser accepts that the DNA-certificates described here above satisfactorily demonstrate the lineage and/or fertility of the related pigeons.

Clause 5 Purchase price - Payment terms Place of payment

5.1. Purchase price
The purchase price, which is to be paid by the Purchaser to PIPA for the Pigeon, is that which is bid by the Purchaser in their binding offer relating to the Pigeon
and which is accepted and confirmed by PIPA.
All amounts are always expressed in Euros. Apart from the case where it is expressly agreed upon in writing to the contrary, all payments are to be carried out in
Euros.
The Belgian value added tax (VAT), where applicable, is included in the aforementioned purchase price.
- The following are NOT included in the aforementioned purchase price:
Other taxes and duties that are applicable, such as import taxes
Miscellaneous expenses, such as eventual bank costs of the Purchaser
Transportation costs for the transport of the Pigeon from the place of delivery as determined in Clause 7 to the location requested by the Purchaser. The
Purchaser is responsible for this transportation. Upon explicit and exceptional request of the Purchaser, PIPA can (help) organize this transportation (in the
name and) on account of the Purchaser. PIPA reserves the right to invoice the Purchaser for the costs hereof.

5.2. Payment terms:

Following the creation of the purchase agreement between PIPA and the Purchaser, as determined in Clause 2.2, PIPA sends an invoice to the Purchaser. Insofar as not
otherwise agreed upon, the Purchaser is required to immediately pay the total amount that is indicated in the invoice to PIPA within a time period of 7 calendar days
following receipt of this invoice.

The non-payment or incomplete payment of the amount indicated in the invoice within the aforementioned time period, and in the case in which the notice of default
sent by PIPA to this effect remains without remedy for a period of thirty calendar days, is a serious shortcoming and entitles the extrajudicial dissolution of the
agreement for breach of contract by the Purchaser, as determined in Clause 13.

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5.3. Place of payment
The place of payment is always the business address of PIPA, as indicated here above.

Clause 6 Transfer of ownership, retention of ownership and transfer of risk

PIPA remains the owner of the Pigeon up until the moment in which the complete purchase price has been received by PIPA.

The risk relating to the Pigeon is transferred to the Purchaser at the time of delivery, as determined hereinafter.

Clause 7 - Delivery
7.1. The place of delivery of the Pigeon is, depending on the circumstances, (i) the residence or location of the pigeon fancier/supplier from whom PIPA has purchased
the Pigeon, (ii) the business address of PIPA, as indicated here above, (iii) or, in appropriate cases, at the premises of the first carrier which is established in Belgium.
As determined by Clause 2.1, the desired place of delivery will, at the latest, be communicated at the time of the offer by the Purchaser to PIPA.

(i) In the event in which the place of delivery is the residence or location of the pigeon fancier/supplier, it is deemed that the Pigeon, or as the case may be, an
individual pigeon which is the object of this purchase agreement, has been delivered by PIPA to the Purchaser at the moment in which acknowledgement has been
given of the delivery of the Pigeon, or of the individual pigeon, to the residence or location of the pigeon fancier/supplier.

(ii) In the event in which the place of delivery is the business address of PIPA, it is deemed that the Pigeon, or, as the case may be, an individual pigeon which is the
object of this purchase agreement, has been delivered by PIPA to the Purchaser at the moment in which acknowledgement has been given of the delivery of the
Pigeon, or of the individual pigeon, to the business address of PIPA, as indicated here above.

(iii) In the event in which the place of delivery is the location of the first carrier in Belgium, it is deemed that the Pigeon, or, as the case may be, an individual pigeon
which is object of the purchase agreement, has been delivered by PIPA to the Purchaser by means of the delivery of the same to the premises of the first carrier
established in Belgium.

7.2. PIPA commits to deliver the Pigeon as determined here above, no later than six months following the completion of the auction period, without prejudice to
Clause 7.4.

In the event in which the Purchaser selects the premises of the first carrier in Belgium as the place of delivery, and however, that through conditions over which PIPA
has no control (for example export prohibition), the Pigeon cannot be delivered to the premises of the first carrier prior to the expiry of the term of delivery, the
place of delivery then becomes the residence or location of the pigeon fancier/supplier.

7.3. As seller, PIPA is not responsible for the transportation of the Pigeon from the place of delivery, as determined here above, to a final address determined as the
case may be by the Purchaser. Accordingly, PIPA is in no case accountable for the transportation from the place of delivery as determined here above, even in the
case in which PIPA might have enabled any action to facilitate this transportation, and this even if PIPA might have accepted an individual instruction from the
Purchaser for this purpose.

7.4. In no case can PIPA be obliged to deliver the Pigeon prior to receipt of the purchase price as determined in Clause 5.

Clause 8 - Disputes
Any lack of conformity must be notified within two months of its discovery to PIPA by means of registered mail. Any lack of conformity that is not notified in a timely
manner, can in no case lead to any liability on the part of PIPA.

Clause 9 Measures in the event of death or illness

The Purchaser also commits to immediately and no later than within 24 hours notify PIPA (at the business address) in the event in which an illness of the Pigeon is
determined upon arrival of the Pigeon at the Purchaser. In the event in which death is determined at the time of arrival of the Pigeon at the Purchaser, the Purchaser
is required to report this to PIPA (to the business address) following determination of the same.

The aforementioned notifications must be made through sales@pipa.be, and in the case of death, it is required that supporting photos of the death be attached. The
aforementioned notifications, amongst other things, must allow, in the case in which PIPA were to determine it to be necessary, that the necessary examinations be
carried out by a qualified veterinarian and to make a statement on this.

Clause 10 Exemption clause

Without prejudice to the statutory warranty obligations, PIPA is not liable to the Purchaser for damages suffered by the Purchaser due to a minor fault of PIPA and/or
its employees or its agents.

Clause 11 Force majeure and unforeseen circumstances

PIPA is not responsible and cannot be held to the payment of any compensation to the Purchaser in the case of temporary or permanent lack of performance due to
force majeure. Under the term force majeure, one is to understand all causes that lie beyond the control of PIPA, such as among others (however not limited to):
strikes, outbreak of bird flu or other illnesses, import or export prohibitions

In the case of a situation of temporary force majeure that continues for over thirty calendar days, PIPA then has the right to dissolve the purchase agreement, without
being liable for any related compensation being owed to the Purchaser.

Clause 12 Express termination clause

PIPA has the right to unilaterally terminate the purchase agreement without prior recourse to court action against the Purchaser, in the event of a serious shortcoming
of the Purchaser against one or more of its contractual obligations, insofar as the notice of default has not resulted in any remedy for a period of thirty calendar days
(in the event in which more than one notice of default is sent, then this term is to be determined on the basis of the first notice of default). PIPA reserves the right to
claim additional damages from the Purchaser.

The non-payment of the complete purchase price as determined in Clause 5, within the therein referred to term, will in any case be considered to be a sufficient
shortcoming of the Purchaser to entitle a unilateral, non-judicial termination by PIPA of the purchase agreement and in which the corresponding notice of default has

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remained without remedy for a term of thirty calendar days.

Clause 13 - Proof
The contractual parties accept electronic evidence (amongst others by means of e-mail )

Clause 14 - Severability
A contractual provision of the Conditions of Sale that is declared to be wholly or partially invalid or otherwise unenforceable (for example, because on the basis of the
Law it is considered unwritten), is by operation of law deemed to be no longer a part of the Conditions of Sale, this without affecting the validity or the enforceability
of the remaining provisions.

Clause 15 Protection of privacy

Within the framework of the contractual relationship with the Purchaser, PIPA will collect personal data of the Purchaser. This relates to the name, address, e-mail
address, telephone number and purchase habits (hereinafter the Personal Data). The Purchaser hereby gives PIPA their consent to the processing of the Personal
Data and to share the same with third parties in conformity with the provisions of this Clause.

PIPA will process the Personal Data in compliance with the provisions of the Law of December 8, 1992 relating to the protection of personal privacy as relates to the
processing of the Personal Data.

PIPA (having the business address as indicated here above) is the controller of the processing and will process the Personal Data for the following purposes: customer
management and direct marketing, both by means of electronic as well as by normal mail (including the sending of newsletters and the invitation to events relating to
pigeon sport).

PIPA shall solely divulge the Personal Data to organizers of events relating to pigeon sport (with whom PIPA has a contractual relationship), data which will be used to
send out invitations for these events.

The Purchaser has the right to oppose themselves without expense against the further processing of the Personal Data for direct marketing, through the delivery of a
dated and signed letter to PIPA (to the address indicated here above or to the following e-mail address: sales@pipa.be).

The Purchaser furthermore has the right to consultation and correction of their Personal Data. This right can be exercised by delivering a dated and signed letter to
PIPA (to the address indicated here above or to the following e-mail address: sales@pipa.be).

Clause 16
The purchase agreement between PIPA and the Purchaser is governed by the Conditions of Sale. Prior general conditions and contrary terms and conditions of the
Purchaser are not applicable under any circumstance.

Only the Conditions of Sale drafted in the Dutch language govern the purchase agreement between PIPA and the Purchaser. PIPA is not responsible for any translation
errors or deviations contained in translated general conditions of sale and/or on the website.

Furthermore the purchase agreement is governed by Belgian law.

Clause 17 - Jurisdiction
All disputes between the parties that result from or are related to the validity, the execution and/or interpretation, and/or the termination of the purchase
agreement, including the Conditions of Sale, are submitted to the jurisdiction of the Belgian courts, in particular the courts of Ghent, which hold exclusive
jurisdiction. PIPA is entitled to expressly waive this jurisdiction clause in writing.

GENERAL CONDITIONS OF SALE RELATING TO

INTERNET SALES BY PIPA TO MERCHANTS
The general conditions of sale apply between the following parties:

PIPA TRADING BVBA (hereinafter PIPA), a company under Belgian law, with its registered office at Eentveldstraat 18, 9910 Knesselare, in Belgium (also referred to
as: the business address), registered with the Crossroads Bank for Enterprises under number 0885.597.924;

And:

the Purchaser, as defined hereafter;

Preamble

PIPA is an enterprise that is known worldwide as a seller of pigeons and which has a website (www.pipa.be), on which the sale of pigeons is organized by means of a
bidding system or a so-called auction.

A Merchant, as defined hereinafter, is able to bid by means of the PIPA online bidding system if, prior to the time of the auction or during the auction, they are
registered with PIPA and are recognized as a bidder by PIPA.

The present Conditions of Sale govern the online sales by PIPA to the Purchaser, as defined hereinafter.

Definitions

The following terms which are highlighted with a capitalized first letter have the following meaning:

Merchant: all other persons than natural persons who act for purposes which are not related to their professional or their commercial activities.

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 Pigeon: the pigeon or pigeons which are identified in the purchase offer which is sent out to the Purchaser, as defined hereinafter, by means of the Website, as
defined hereinafter.

Young Pigeon: a pigeon or pigeons which is/are at most one year old at the start time of the auction period.

Purchaser: a Merchant who is registered with PIPA as a bidder and is recognized as a bidder by PIPA prior to or during the auction.

Conditions of Sale: these present conditions of sale

Website: www.pipa.be

Clause 1 Object
The purpose of the Conditions of Sale is to determine the terms and conditions under which PIPA sells the Pigeon to the Purchaser.

The Conditions of Sale apply to all internet sales made by PIPA to a Purchaser.

Clause 2 Establishment of a purchase agreement between PIPA and the Purchaser

2.1. The offer is sent out by the Purchaser
The description of a pigeon or pigeons and/or the photos of a pigeon or pigeons on the Website are merely invitations which are sent out by PIPA for the receipt of
binding purchase offers; in no event do they create a binding offer to sell on the part of PIPA.

The Purchaser who wishes to purchase a pigeon that is described and/or shown on the Website, must place a binding offer to PIPA by means of the Website, prior to
the expiry of the bidding period indicated on the Website (for the procedure: www.pipa.be), with indication of the price offered. This offer is binding on the
Purchaser.

The Purchaser is aware that PIPA is not obliged to accept this offer, even in the event in which this offer is the highest offer which has been received by PIPA during
the respective bidding period.

PIPA reserves the right at all times to request additional information from the Purchaser following receipt of the offer from the Purchaser.

2.2. Establishment of a purchase agreement

The purchase agreement between PIPA and the Purchaser is then established at the moment in which PIPA accepts the offer of the Purchaser for the purchase of the
Pigeon. PIPA will send out a confirmation e-mail to the Purchaser within 48 hours of acceptance of the aforementioned offer of the Purchaser.

Clause 3 Obligation to deliver of PIPA

The identity of the Pigeon is adequately demonstrated by PIPA by means of a pedigree/family tree and the ring card (with the exception of those countries in
which the same is not foreseen by a Federation, such as the Koninklijke Belgische Duivenliefhebbersbond VZW [Royal Belgian Pigeon Fanciers Federation] or by an
equivalent foreign entity, in which case the leg ring will demonstrate the identity of the Pigeon). The aforementioned documents, unless otherwise agreed, are
transferred by PIPA to the Purchaser either at the time of the delivery of the Pigeon or shortly after the delivery by mail.

In view of the nature of the good that is being sold, being that it is a living animal, the Purchaser recognizes that the eventual infertility or reduced fertility of the
Pigeon, notwithstanding the efforts undertaken by PIPA in this regard and as detailed hereafter, does not have any influence on the conformity of the delivered
product.

In view of the nature of the good that is being sold, being that it is a living animal, the Purchaser recognizes that the perfect health of the Pigeon, notwithstanding
the efforts undertaken by PIPA in this regard and as detailed hereafter, is not required for the fulfilment on the part of PIPA of their delivery obligations.

Clause 4 Remaining obligations of PIPA

4.1. Health/Condition
PIPA commits to impose an obligation upon its supplier(s)/pigeon fancier(s) to deliver the Pigeon in good condition. A pigeon in good condition shows:

- Normal white ceres

- Has sufficient muscle tissue next to the breastbone
- Has a pale pink throat without mucus
- Shows glossy plumage
- Gives an impression of vitality.

Furthermore, PIPA commits to request of its supplier(s)/pigeon fancier(s) proof of vaccination against the paramyxovirus, and this within a period of less than six
months prior to the conclusion of the auction period.

4.2. DNA-certificate
PIPA is not responsible if, notwithstanding the efforts undertaken by PIPA, the Pigeon turns out to be infertile or to have a reduced fertility, unless fraudulent intent
by PIPA.

Without prejudice to the foregoing clause, PIPA provides the possibility, in certain specific cases, to obtain a DNA-certificate which gives an indication regarding the
fertility of the Pigeon.

4.2.1. In the event in which the sale deals with a Young Pigeon:

Subject to indication to the contrary on the Website in relation to a specific auction, PIPA commits to deliver a DNA-certificate, as hereinafter described, to the
Purchaser no later than upon delivery of the Young Pigeon, which is the object of the purchase agreement.

This DNA-certificate shows, with a high degree of certainty, the genetic relationship between the Young Pigeon and its parents or one of its parents (in the event in
which only one of the parents is relevant or is available). The aforementioned DNA-certificate cannot be delivered in the event in which both of the parents, or the

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relevant parent, are/is predeceased or are/is not available.

4.2.2. In the event in which the sale does not concern a Young Pigeon:

In the event in which one is dealing with a pigeon that has a purchase price exceeding 25,000 Euros, the Purchaser is entitled, within the first 24 hours of the
conclusion of the auction period, to send an explicit written request to PIPA (by e-mail to: sales@pipa.be) for the delivery of a DNA-certificate. In the
aforementioned case, PIPA will instruct the pigeon fancier/supplier to breed a child in view of the preparation of a DNA-certificate.

This DNA-certificate shows, with a high degree of certainty, the genetic relationship between the individual pigeon, which is the object of the purchase agreement,
and the child that was bred of the relevant pigeon following the conclusion of the auction period. This DNA-certificate therefore demonstrates that the individual
pigeon, which is the object of the purchase agreement, is fertile. The Purchaser declares that they are aware that the preparation of a DNA-certificate will require
approximately 14 weeks.

4.2.3. In the event in which the DNA-certificate indicated in Clause 4.2.2 is not transmitted to the Purchaser within sixteen weeks following notification of the request
of the same by the Purchaser to PIPA, the Purchaser is then entitled to withdrawn from the purchase of the relevant pigeon, which is the object of the purchase
agreement. In the aforementioned case, within seven business days of the written notification (sent by e-mail to: sales@pipa.be) made by the Purchaser to PIPA of the
decision to withdraw from the purchase, PIPA is required to reimburse the purchase price to the Purchaser insofar as the same has already been paid to PIPA. In the
aforementioned case, the Parties reciprocally declare that no further compensation can be sought.

4.2.4. In the event in which the Purchaser does not request a DNA-certificate, as described in Clause 4.2. 2within the aforementioned time period of 24 hours, PIPA
can at no time be held to pay for damages suffered by the Purchaser which are contingent on information that might have been contained in the DNA-certificate, had
the same indeed been requested.

4.2.5. The Purchaser accepts that the DNA-certificates described here above satisfactorily demonstrate the lineage and/or fertility of the related pigeons.

Clause 5 Purchase price - Payment terms Place of payment

5.1. Purchase price
The purchase price, which is to be paid by the Purchaser to PIPA for the Pigeon, is that which is bid by the Purchaser in their binding offer relating to the Pigeon
and which is accepted and confirmed by PIPA.
All amounts are always expressed in Euros. Apart from the case where it is expressly agreed upon in writing to the contrary, all payments are to be carried out in
Euros.
The following are NOT included in the aforementioned purchase price:
Any value added tax (VAT), to the extent applicable
Other taxes and duties that are applicable, such as import taxes
Miscellaneous expenses, such as eventual bank costs of the Purchaser
Transportation costs for the transport of the Pigeon from the place of delivery as determined in Clause 7 to the location requested by the Purchaser. The
Purchaser is responsible for this transportation. Upon explicit and exceptional request of the Purchaser, PIPA can (help) organize this transportation (in the
name and) on account of the Purchaser. PIPA reserves the right to invoice the Purchaser for the costs hereof.

5.2. Payment terms:

Following the creation of the purchase agreement between PIPA and the Purchaser, as determined in Clause 2.2, PIPA sends an invoice to the Purchaser. Insofar as not
otherwise agreed upon, the Purchaser is required to immediately pay the total amount that is indicated in the invoice to PIPA within a time period of 7 calendar days
following receipt of this invoice.

The non-payment or incomplete payment of the amount indicated in the invoice within the aforementioned time period, and in the case in which the notice of default
sent by PIPA to this effect remains without remedy for a period of thirty calendar days, is a serious shortcoming and entitles the extrajudicial dissolution of the
agreement for breach of contract by the Purchaser, as determined in Clause 12.

5.3. Place of payment

The place of payment is always the business address of PIPA, as indicated here above.

Clause 6 Transfer of ownership, retention of ownership and transfer of risk

PIPA remains the owner of the Pigeon up until the moment in which the complete purchase price has been received by PIPA.

The risk relating to the Pigeon is transferred to the Purchaser at the time of delivery, as determined hereinafter.

Clause 7 - Delivery
7.1. The place of delivery of the Pigeon is, depending on the circumstances, (i) the residence or location of the pigeon fancier/supplier from whom PIPA has purchased
the Pigeon, (ii) the business address of PIPA, as indicated here above, (iii) or, in appropriate cases, at the premises of the first carrier which is established in Belgium.
As determined by Clause 2.1, the desired place of delivery will, at the latest, be communicated at the time of the offer by the Purchaser to PIPA.

(i) In the event in which the place of delivery is the residence or location of the pigeon fancier/supplier, it is deemed that the Pigeon, or as the case may be, an
individual pigeon which is the object of this purchase agreement, has been delivered by PIPA to the Purchaser at the moment in which acknowledgement has been
given of the delivery of the Pigeon, or of the individual pigeon, to the residence or location of the pigeon fancier/supplier.

(ii) In the event in which the place of delivery is the business address of PIPA, it is deemed that the Pigeon, or, as the case may be, an individual pigeon which is the
object of this purchase agreement, has been delivered by PIPA to the Purchaser at the moment in which acknowledgement has been given of the delivery of the
Pigeon, or of the individual pigeon, to the business address of PIPA, as indicated here above.

(iii) In the event in which the place of delivery is the location of the first carrier in Belgium, it is deemed that the Pigeon, or, as the case may be, an individual pigeon
which is object of the purchase agreement, has been delivered by PIPA to the Purchaser by means of the delivery of the same to the premises of the first carrier
established in Belgium.

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7.2. PIPA commits to deliver the Pigeon as determined here above, no later than six months following the completion of the auction period, without prejudice to
Clause 7.4.

In the event in which the Purchaser selects the premises of the first carrier in Belgium as the place of delivery, and however, that through conditions over which PIPA
has no control (for example export prohibition), the Pigeon cannot be delivered to the premises of the first carrier prior to the expiry of the term of delivery, the
place of delivery then becomes the residence or location of the pigeon fancier/supplier.

7.3. As seller, PIPA is not responsible for the transportation of the Pigeon from the place of delivery, as determined here above, to a final address determined as the
case may be by the Purchaser. Accordingly, PIPA is in no case accountable for the transportation from the place of delivery as determined here above, even in the
case in which PIPA might have enabled any action to facilitate this transportation, and this even if PIPA might have accepted an individual instruction from the
Purchaser for this purpose, unless fraudulent intent by PIPA.

7.4. In no case can PIPA be obliged to deliver the Pigeon prior to receipt of the purchase price as determined in Clause 5.

Clause 8 - Disputes
8.1 The visual defects and the non-conformity must be notified to PIPA (by email on sales@pipa.be) within 24 hours after delivery of the Pigen, as defined in
article 7.

8.2 Any hidden defect must be notified within ten calendar days of its discovery to PIPA by means of registered mail. Any defect that is not notified in a timely
manner, can in no case lead to any liability on the part of PIPA.

In any case, no hidden defects can be notified and no Court action can be taken after six months after delivery of the relevant pigeon, as defined in article 7.

8.3 In view of the nature of the good that is being sold, being that it is a living animal, and without prejudice to article 4.2, the fertility of the Pigeon cannot be
guaranteed.

Clause 9 Measures in the event of death or illness

In view of the nature of the good that is being sold, being that it is a living animal, PIPA cannot guarantee the perfect health of the Pigeon on the moment of the sale,
notwithstanding the efforts undertaken by PIPA in this regard.

Without prejudice to the foregoing, and only to facilitate formal establishments, the Purchaser commits to immediately and no later than within 24 hours notify PIPA
(at the business address) in the event in which an illness of the Pigeon is determined upon arrival of the Pigeon at the Purchaser. In the event in which death is
determined at the time of arrival of the Pigeon at the Purchaser, the Purchaser is required to report this to PIPA (to the business address) following determination of
the same.

The aforementioned notifications must be made through sales@pipa.be, and in the case of death, it is required that supporting photos of the death be attached. The
aforementioned notifications, amongst other things, must allow, in the case in which PIPA were to determine it to be necessary, that the necessary examinations be
carried out by a qualified veterinarian and to make a statement on this.

Clause 10 Exemption clause

10.1 PIPA is not liable to the Purchaser for damages suffered by the Purchaser due to a minor or serious personal fault of PIPA and/or any fault, including serious fault
or fraudulent intent of its employees or its agents.

This exemption of liability will not be enforceable in those cases where mandatory law prevents the enforceability.

10.2 Without prejudice to the foregoing clause, PIPAs liability per event can never exceed the amount of the purchase price as defined in article 5.1.

Clause 11 Force majeure and unforeseen circumstances

PIPA is not responsible and cannot be held to the payment of any compensation to the Purchaser in the case of temporary or permanent lack of performance due to
force majeure. Under the term force majeure, one is to understand all causes that lie beyond the control of PIPA, such as among others (however not limited to):
strikes, outbreak of bird flu or other illnesses, import or export prohibitions

In the case of a situation of temporary force majeure that continues for over thirty calendar days, PIPA then has the right to dissolve the purchase agreement, without
being liable for any related compensation being owed to the Purchaser.

Clause 12 Express termination clause

PIPA has the right to unilaterally terminate the purchase agreement without prior recourse to court action against the Purchaser, in the event of a serious shortcoming
of the Purchaser against one or more of its contractual obligations, insofar as the notice of default has not resulted in any remedy for a period of thirty calendar days
(in the event in which more than one notice of default is sent, then this term is to be determined on the basis of the first notice of default). PIPA reserves the right to
claim additional damages from the Purchaser.

The non-payment of the complete purchase price as determined in Clause 5, within the therein referred to term, will in any case be considered to be a sufficient
shortcoming of the Purchaser to entitle a unilateral, non-judicial termination by PIPA of the purchase agreement and in which the corresponding notice of default has
remained without remedy for a term of thirty calendar days.

Clause 13 - Proof
The contractual parties accept electronic evidence (amongst others by means of e-mail )

Clause 14 - Severability
A contractual provision of the Conditions of Sale that is declared to be wholly or partially invalid or otherwise wholly or partially unenforceable (for example, because
on the basis of the law it is considered unwritten), is by operation of law deemed to be no longer a part of the Conditions of Sale, this without affecting the validity or
the enforceability of the remaining provisions or parts thereof.

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Clause 15 Protection of privacy
Within the framework of the contractual relationship with the Purchaser, PIPA will collect personal data of the Purchaser. This relates to the name, address, e-mail
address, telephone number and purchase habits (hereinafter the Personal Data). The Purchaser hereby gives PIPA their consent to the processing of the Personal
Data and to share the same with third parties in conformity with the provisions of this Clause.

PIPA will process the Personal Data in compliance with the provisions of the Law of December 8, 1992 relating to the protection of personal privacy as relates to the
processing of the Personal Data.

PIPA (having the business address as indicated here above) is the controller of the processing and will process the Personal Data for the following purposes: customer
management and direct marketing, both by means of electronic as well as by normal mail (including the sending of newsletters and the invitation to events relating to
pigeon sport).

PIPA shall solely divulge the Personal Data to organizers of events relating to pigeon sport (with whom PIPA has a contractual relationship), data which will be used to
send out invitations for these events.

The Purchaser has the right to oppose themselves without expense against the further processing of the Personal Data for direct marketing, through the delivery of a
dated and signed letter to PIPA (to the address indicated here above or to the following e-mail address: sales@pipa.be).

The Purchaser furthermore has the right to consultation and correction of their Personal Data. This right can be exercised by delivering a dated and signed letter to
PIPA (to the address indicated here above or to the following e-mail address: sales@pipa.be).

Clause 16 Applicable law

The purchase agreement between PIPA and the Purchaser is governed by the Conditions of Sale. Prior general conditions and contrary terms and conditions of the
Purchaser are not applicable under any circumstance.

Only the Conditions of Sale drafted in the Dutch language govern the purchase agreement between PIPA and the Purchaser. PIPA is not responsible for any translation
errors or deviations contained in translated general conditions of sale and/or on the website.

Furthermore the purchase agreement is governed by Belgian law, excluding the Vienna Convention, the Convention of 14 June 1974 on the Limitation Period in the
International Sale of Goods (Limitation Convention) and the rules of Belgian International Private Law.

Clause 17 - Jurisdiction
All disputes between the parties that result from or are related to the validity, the execution and/or interpretation, and/or the termination of the purchase
agreement, including the Conditions of Sale, are submitted to the jurisdiction of the Belgian courts, in particular the courts of Ghent, which hold exclusive
jurisdiction. PIPA is entitled to expressly waive this jurisdiction clause in writing.

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