SALES AND PURCHAS AGREEMENT FOR RUSSIAN

AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

SALES AND PURCHASE AGREEMENT

Seller’s Code: XXXXXXXXXXXXX

Buyer’s Code: KOZARA/121714-JP.54.368.RF

Contract Code:

This Contract is for the sale and purchases of Commodity AVIATION KEROSENE
COLONIAL GOST 10227-86, hereinafter referred to as the "Product" and is not to
be freely circulated. It is solely for the purchase for the purpose of this
transaction.
The quantity is 5,000,000.0 BBL over 12 (Twelve) months with possible rolls and
extensions.
This Contract is entered into this 23th of December, 2014
This agreement, hereinafter referred to as the “Contract”, is made between and
entered into effect on the date of execution.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 1 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

Seller : KOZARA GMBH

Address: Im Galluspark 24, Frankfurt 60326, Deutschland.
Registration No.: 6412000

Tel/Fax: +496973904737

Cell: +971528375399
E-Mail: info@kozara.de

Contact Person: Dr. MOHAMMED SAYED ABDALLA KOTB

Title: CEO

Hereinafter referred to as "Seller"

Buyer : US OIL & GAS TRADE PTE.LTD.

Address: BIK 45 LENGKOK BAHRU, #03-229, SINGAPORE 150045

Registration No.: 201224306C

Tel/Fax: 310-568 0638

Cell: 818 437 2929
E-Mail: us.energy@hotmail.com
Contact Person: JOE KWANIL MOON
Title: PRESIDENT/MD

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 2 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

INDEX

CLAUSE PAGE
1. COMMODITY 04
2. QUANTITY 04
3. TIME PERIOD 04
4. QUALITY 04
5. PRICE 05
6.DELIVERY TERMS 05
7.PAYMENT 05
8. BANKING PROCEDURE 05
9.TRANSACTION PROCEDURES 06
10. INSPECTION – QUANTITY & QUALITY DETERMINATION 06
11. BANKING COORDINATES 07
12. SANCTION (NON PERFORMANCE) 08
13. INSURANCE 08
14. NON-CIRCUMVENTION NON-DISCLOSURE CONFIDENTIALLY 09
15. ARBITRATION 09
16. CLAIMS 10
17.TAXES, OBLIGATIONS AND IMPORTS 10
18.LIABILITY EXEMPTIONS - FORCE MAJEURE 10
19.APPLICABLE LAW 11
20.ARBITRATION 11
21.SPECIAL CONDITIONS 12
22.LAYCAN / LAYTIME / DEMURAGE 12
23.ORDER OF ASSIGNMENT 13
24.CONTRACTUAL VALIDITY PERIOD 14
25. GENERAL 14
APPENDIX NO. 1 (QUALITY OF THE GOODS) 15
APPENDIX NO. 2 (DELIVERY SCHEDULE) 16
AUTHORIZED SIGNATORIES OF CONFORMING PARTIES 17

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 3 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

CLAUSE 1 - COMMODITY

AVIATION KEROSENE COLONIAL JP54GOST 10227-86 having the contractual,

maximum/minimum as appropriate, guaranteed specifications as per (Appendix№ 1),
hereinafter attached as an integral part of the Contract.
CLAUSE 2 - QUANTITY

2.1 The total contractual quantity of the Commodity sold and purchased under the Contract is
60,000,000.0 (Sixty Million) Barrel of JP54 GOST 10227-86, which shall be delivered in the
amount of 5,000,000.0 (Five Million) Metric Tons per month, over a 12 (Twelve) Month Contract,
with a variation of +/- 10% (Plus / Minus Ten Percent) at Seller’s option as agreed, with possible
rolls and extensions.
2.2 Parties hereby agree to deliver and accept, respectively, the above quantity in partial
shipments of not less than 500,000 (Fife Hundred Thousand) Barrel, or quantity as mutually
agreed, in barrels per shipment. The contracted quantity shall be delivered monthly in
accordance with information on nominated ports of delivery and loading information provided
respectively by the Buyer and Seller from time to time hereinafter referred to as the “Delivery
Schedule”, hereafter attached as or to (Appendix№ 2)which constitute an integral part of the
Contract.

2.3 The First Loading is subject to acceptance by the Seller, and the Seller’s bank, of the
Buyer’s Financial Instrument.
CLAUSE 3 - TIME PERIOD

3.1 The duration of the Contract is for a period of 12 (Twelve) consecutive calendar months,
with possible rolls and extensions.
3.2 The Contract time period shall commence to count from the date on which the nominated
international Surveyor Company has ascertained the quantity and quality of the first batch
discharged at the Buyer’s nominated discharge terminal facilities.
CLAUSE 4 - QUALITY

4.1 For the full duration of the Contract, the Seller guarantees that the quality of the product sold
will conform to the specifications as reported on Appendix№ 1, which constitutes an integral part
of the Contract.
4.2 The Parties agree that an independent surveyor, SGS or equivalent, according to the terms
stated herein, shall conduct quality and quantity inspection of the Goods onboard of the vessel,
or at the shore tanks at the loading port.
4.3 The Parties agree that inspection costs as shown in the surveyor’s invoice in the port of
loading shall be borne by the Seller.
4.4 The results of the SGS or equivalent shall be sent to the buyer's bank, bank-to-bank.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 4 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

CLAUSE 5 – PRICE

The price for the Products shall be for Discount of ROTTERDAM PLATTS of Gross 7.0%
/BBL Net 6.0% /BBL, paid by the Buyer.
CLAUSE 6 –DELIVERY TERMS

6.1 Date of the Bill of Lading for the Goods loaded shall be considered as the date of delivery of
the Goods.
6.2 The Discharge Port is to be CIF ROTTERDAM, nominated and included on the Delivery
Schedule (Appendix№ 2) as soon as they are available to Buyer but not later than 14 days prior
to the date of loading to allow shipment to the nominated port.
6.3 The Performance Bond shall be calculated as 2% (Two percent) of the agreed CIF value of
the (Appendix№ 2) monthly loading schedule quantity.
CLAUSE 7 - PAYMENT

7.1 Prior to the commencement of each monthly shipment of delivery of product according to
the Contract, the Buyer shall establish security, either by Cash Funds or Letter of Credit, (the
“Financial Instrument”) equal to the One monthly shipment value, emitted by the Buyer to the
authorized Security Account provided by the Seller.
7.2 The Financial Instrument’s, where applicable to be issued by, or with AVAL from a Bank
acceptable to the Seller, shall be valid for One (1) year and One (1) day, in favor of Seller.
7.3 Payment shall be made based on SGS or equivalent Q&Q Report conducted at loading.
7.4 All bank charges in the Seller’s Bank shall be on the Seller’s account; and all bank charges
in the Buyer’s Bank shall on the Buyer’s account. All parties has the right to change bank co-
ordinates if need be.
7.5 All commissions, Seller will pay from the Gross Price.
CLAUSE 8 - BANKING PROCEDURE

8.1 Seller and Buyer hereby agreed that upon execution of the contract by the parties, Within 2
(Two) International Banking Days to launch the signed contracts in their respective Banks.

8.2 Within 5 (Five) International Banking Days of the Parties signing the Contract, on a Bank to
Bank basis, the Seller shall issue a Partial Proof of Product (PPOP) to the Buyer.

8.3 Within 5 (Five) International Banking Days of receipt of Seller’s PPOP, Buyer’s Bank shall
issue SBLC MT760 or RDLC MT700.

8.4 Within 5 (Five) International Banking Days upon confirmation and acceptance of Buyer’s
Financial instruments (MT760 or MT700), on a Bank to Bank basis the Seller’s Bank shall issue
an Operative Performance Bond (PB) 2%,and swift the Full POP documents to Buyer’s Bank.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 5 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

8.5 Payment shall be made against a satisfactory quality and quantity report performed by the
surveyor SGS or equivalent, within 5 (Five) International Banking Days, and Payment shall be
released either via the Letter of Credit or by T/T, MT103.
CLAUSE 9 - TRANSACTION PROCEDURES

9.1 Buyer issues an ICPO with seller working procedure.

9.2 Seller issues draft contract to the Buyer.
9.3 Buyer signs and returns contract with NCNDA/IMFPA for seller endorsement.
9.4 Seller and Buyer launch the signed contracts in their respective banks.
9.5 Seller issues PPOP, on Bank to Bank basis with buyer secure E-Mail.
A) Passport of the product.
B) Certificate of origin.
C) Company license.
D) Q&Q by SGS current date report.
E) Certificate of conformity.
F) Refinery commitment to supply.
G) Refinery statement of availability of product.

9.6 Buyer issues MT760-SBLC/MT700-RDLC.

9.7 Seller issues PB 2% & POP, on Bank to Bank basis.
9.8Upon verification of Q&Q performed by the surveyor SGS or equivalent Payment shall be
released either via the Letter of Credit or by T/T, MT103.

CLAUSE 10 - INSPECTION – QUANTITY & QUALITY DETERMINATION

10.1 Parties mutually agree that the SGS or equivalent shall be appointed at both designated
loading and discharge ports, to assess the quality and quantity of the cargo according to the
provisions herein stated.

10.2 Quantity and quality assessments conducted by the SGS or equivalent shall be in
accordance with methods and procedures in oil industry practice and shall strictly comply with
the current ASTM/IP International Standards and Procedures in force on the date of inspection.

10.3 When converting volumes, from observed volume and temperature to standard
temperatures, volumes and weight ASTM tables, latest revised editions, must be used.

10.4 The quantity of each shipment of the Commodity shall be assessed by the SGS or
equivalent at the discharge port on completion of each discharging operation. This assessed
quantity will be used for computing the final amount to be paid to the Seller, via adjustment
invoices to the commercial invoice, applying the price and any payments to or from Buyer or
Seller to close the account on each vessel’s shipment.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 6 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

10.5 Latest revised edition of ASTM tables shall be used for conversion of observed volumes of
the Goods to the volumes at the standard temperature and for conversion of volumes to weight.

10.6 Buyer at its own expense may appoint an additional inspection service company, including
but not limited to SGS or CIQ at the unloading port. The results of any such inspections shall
have no standing in respect to the Contract.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 7 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

CLAUSE 11 - BANKING COORDINATES

SELLER BANKING DETAILS

BANK NAME: Commerzbank

BANK ADDRESS: Kaiserstra Be 30 60311 Frankfurt.

CITY/COUNTRY: Frankfurt, Germany

ACCOUNT NAME: KOZARA GmbH

ACCOUNT NUMBER/IBAN: DE73500400000640542700

SWIFT CODE: COBADEFFXXX

BANK TELEPHONE: +496913659103

BANK FAX: N/A

BANK OFFICER NAME: Stefanie Kolloch

BUYER BANKING DETAILS

BANK NAME: DBS Bank

12 Marina Boulevard #43-02, DBS Asia Central, Marina Bay Financial

BANK ADDRESS:
Centre Tower 3

CITY/COUNTRY: Singapore 018982

ACCOUNT NAME: US OIL & GAS TRADE PTE. LTD.

ACCOUNT NUMBER/IBAN: 0003-013118-01-4 / 322271627

SWIFT CODE: DBSSSGSG

BANK TELEPHONE: +65-6878-5772 / +65-6443-3643 (Premier Service)

BANK FAX: +65-6878-5224 / 6878-5446

BANK OFFICER NAME: cardinwong@dbs.com

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 8 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

CLAUSE 12- SANCTION (NON PERFORMANCE)

12.1. Should either party fail to comply with any of their obligations to the other party related to
the contract, then the suffering party will have the option to the declare non-performance against
the defaulting party.

12.1.1 In a case of incomplete delivery and/or termination of delivery of the Goods on fault of
the
Seller, the Seller is obliged to pay, in addition to any other rights or benefits otherwise provided
in this Contract including but not limited to claims against the Seller’s Performance Bond, to the
Buyer a penalty amount calculated at a rate of one-tenth percent (0.1%) of the value delayed for
each delayed day from the sum of incomplete delivery of the Goods, but no more than three
percent (3%) of the total value of a delivery delayed.

12.1.2. In case of delayed payment, the Buyer shall pay a penalty at a rate of one-tenth percent
(0.1%)of the amount owed for each delayed payment, but no more than three percent (3%) of
the total value of a payment delayed.

12.2. Failure by either party to take action against the other, in case of the other party’s non-
compliance with obligations or conditions set forth with this contract, shall not be interpreted as
a waiver to take action for a subsequent non-compliance of the same or other obligations or
conditions.

12.3 After both Parties agreed all terms of this contract, and one of the parties don’t perform his
part especial the procedure out of this contract, this party has to pay a penalty. The penalty
amount is calculated at a rate of five percent (5%) of the value of the agreed Payment
Instrument.

CLAUSE 13 - INSURANCE

13.1. Seller, at its own expense, shall procure a policy with a qualified Marine Insurance Carrier
to cover 110% (One Hundred and Ten Percent) of the value of the cargo. The insurance policy
will cover all risks of loss or damages to said cargo, including war, hijacking, explosion etc. from
the time the cargo has passed the ship’s manifold flanges at the loading port until the cargo has
passed the ship’s manifold flanges at the discharge port.

13.2 The sole beneficiary of the Insurance shall be the Seller.

CLAUSE 14 – NON-CIRCUMVENTION NON-DISCLOSURE CONFIDENTIALLY

14.1 This Agreement and all documents related to this Agreement or otherwise obtained by one
Party from the other Party shall be treated as confidential. Such information shall be kept
confidential, and shall not be subsequently disclosed to third parties or reproduced in any way;
provided however, that each Party may disclose such information to the Party’s affiliates,
agents, employees, lenders, counsel, Sales and Purchase accountants or advisors who have a
need to know such information and have agreed to keep such terms confidential, or as may be
Seller’s Signature & Seal Buyer’s Signature & Seal

Page 9 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

required in order to comply with any law or government regulations(including reporting

requirements),court or regulatory proceeding.

14.2 Both parties agree that they are bound by any Non Circumvention Non-Disclosure
Agreements which they have entered into with regard to the above referenced transaction and
shall not circumvent, avoid, bypass or obviate each other directly or indirectly to avoid payment
of commissions or fees in any transaction pending, or in the future, for as long as this
Agreement shall remain in force between the two principles.

14.3 This Agreement includes by reference and incorporates the customary practices of the
Non-Circumvention and Non-Disclosure set forth in Article 6 & 7 of I.C.C Publication No. 619,
2000

14.4 The provisions of this Paragraph shall be valid for Five years commencing from the date of
the Agreement.

CLAUSE 15- ARBITRATION

15.1 The present Contract is a purely commercial deal concluded in accordance with
International rules related to preparations, interpretation, execution of legality and any other
issues regarding performance of the present Contract including customary norms of honesty,
confidentiality adopted by the International Chamber of Commerce (ICC), Paris, as well as
temporary suspension of deliveries due to force-majeure circumstances. Should the Parties fail
to reach an agreement as regards any aspect of performance of the present Contract theParties
agree to submit the matter to Arbitration Court.

15.2 All disputes or controversies which may arise out of the present Contract shall be settled at
the Arbitration Court in accordance with the rules and procedures of the stated Arbitration Court.

15.3 Decision of the stated Arbitration Court shall be final and binding upon both Parties.

CLAUSE 16 - CLAIMS

16.1 Any claim(s) that either Party has must be submitted to the other Party within a period of
15 (Fifteen) calendar days from the date of the occurrence causing the claim. If within 15
(Fifteen) calendar days from date of discharge of vessel at the discharge port, the Buyer fails to
inform the Seller confirming non – compliance, the Commodity will be deemed to have been
accepted by the Buyer and no claim will be accepted by the Seller. All claims will be done in
writing and both Parties agree to acknowledge such claims by written acceptance thereof.

16.2 In the Event that the quality of any one of the delivered shipments fail to comply with the
contractual specifications (verified by the SGS or equivalent inspection at Loading), then the
Buyer shall have the option to either refuse delivery without incurring any liability or make a
counter offer for the said shipment at a lower price to be negotiated between Buyer and Seller
prior to the commencement of the discharge operations. In the event there is a discrepancy
Seller’s Signature & Seal Buyer’s Signature & Seal

Page 10 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

between the SGS or equivalent at Loading and the SGS or equivalent at Discharge it shall be
the responsibility of both Parties to cooperate in determining whether there is a claim against
the Vessel for improper handling or storage during transit or a claim against SGS or equivalent
for errors at either Port in their testing procedure, such claims to accrue to the benefit of the
Seller.

CLAUSE 17 - TAXES, OBLIGATIONS AND IMPORTS

17.1 The Seller shall pay all duties and taxes of any kind whatsoever related to the performance
of the Contract and collected up to the nominated discharge port.

17.2 The Buyer shall pay all and any taxes and duties, related to the performance of the
Contract and collected at the ships discharge manifold and beyond the discharge port.

CLAUSE 18 - LIABILITY EXEMPTIONS - FORCE MAJEURE

18.1 Such events defined by INCOTERMS 2010 beyond the control of the Parties and which
neither Party causes or contributes to shall be referred to as a “Force Majeure Event”. In the
event of any Force Majeure Event(s) and circumstances, such events shall be defined by, and
the Contract shall be governed by, the regulations of CIF Deliveries according to INCOTERMS
2010.

18.2 Neither Party shall be responsible for full or partial non-performance of their obligations
under the present Contract if such non-performance is a result of a Force Majeure circumstance
as defined in Clause 18.1.

18.3. In the event any Force Majeure Event directly affects fulfillment of the obligations during
the Contract Term, the time for such obligations to be fulfilled will be extended accordingly by
and during the duration of such Force Majeure Event. No reduction or suspension in the
deliveries or receipts of the product due to any of the above-mentioned circumstances shall
extend the Contract Term nor operate to terminate the Contract.

18.4. In the event a Force Majeure Event lasts more than 60 (Sixty) days, each Party has the
right to cancel the present Contract partially or completely without prejudice to any sum owing
by either Party to the other Party for performance hereunder. In such case, neither Party shall
have the right to claim for any reimbursement of possible loss from the other Party beyond the
settlement of outstanding invoices and costs to wind-up the Contract, (including costs of
Demurrage as outlined in Clause 22.3(c).

18.5. Any Party claiming excuse by reason of Force Majeure shall deliver prompt written
notice to the other Party within 7 (Seven) calendar days following the event or circumstance and
the expected duration of the Force Majeure Event. A certificate issued in original by a
competent recognized authority shall be deemed sufficient proof for the claim of the existence of
the Force Majeure Event and for its duration.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 11 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

18.6. Except as specifically mentioned herein, no claim shall be made for any special, indirect,
incidental, punitive, exemplary and/or consequential damages of any nature including but not
limited to lost profits, revenues, business interruption, or damages by either Party against the
other under the Contract when a Force Majeure Event occurs.

CLAUSE 19 - APPLICABLE LAW

The laws of The United States shall govern all matters relating to the validity, interpretation or
performance of the Contract.
CLAUSE 20 - ARBITRATION

20.1 All disputes arising in connection with the Contract shall firstly be settled amicably. Should
the Parties reach no Agreement, the case shall be brought for final settlement under the rules of
Arbitration of the International Chamber of Commerce in the State of New York, in the city of
New York, in the United States of America by one or more arbitrators appointed in accordance
with the said Rules.

20.2 In the event of Arbitration, each Party shall appoint one arbitrator, with a third appointed by
an independent party. Nothing in the Contract shall be construed to prevent any Court having
jurisdiction from issuing injunctions, attachment orders or orders for other similar relief in aid of
any arbitration commenced (or to be commenced) pursuant to this section.

20.3 Neither Party shall fail to comply in a timely manner with the obligations of any part of the
Contract although a dispute has arisen and proceeded to arbitration.

20.4 Findings as assessed by arbitration will be final and binding on both Parties without any
possibility of recourse.

CLAUSE 21 - SPECIAL CONDITIONS

The Parties hereby agree that all terms, which are not specifically confirmed and agreed upon in
this Contract, have to be referred to the general rules of the ICC INCOTERMS Edition 2000
with latest amendments.

CLAUSE 22- LAYCAN /LAYTIME /DEMURAGE

22.1 LAYCAN

22.1(a) Seller and Buyer hereby agree on a rolling quarterly Delivery Schedule specifying the
Laycan’s at Buyer’s designated discharge port(s) per each single shipment to be delivered. The
fifteenth (15th) day of every third month or otherwise described as quarterly, the Parties shall
upload nominated discharge ports and resulting loading information for the subsequent quarter
to the Delivery Schedule as agreed upon by the Parties.

22.1(b) Laycan’s at the Buyer’s designated discharge port(s) to be fixed within range of time - 3
(Three) days.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 12 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

22.2 LAYTIME

22.2(a) Buyer warrants the Seller’s nominated vessel(s) will be allowed to discharge her cargo
within 24 (Twenty Four) free running hours SHINC, plus 6 (Six) hours NOR, and however,
maintaining at the ship’s manifolds an average discharge pressure of not more than 10 (Ten)
kilograms per square centimeter (Kg/m2 ).
22.2(b) Notice of Readiness (NOR) shall be given to the Buyer and/or agent, on vessel’s arrival
at the Buyer’s designated Discharge port(s) by the ship’s Master by radio, cable, telex or by
hand, at any time including Saturdays, Sunday and holidays.

22.2(c) Laytime shall commence upon the expiration of 6 (six) hours after Tender of Notice of
Readiness, or upon vessel being all fast in berth, whichever is earlier.

20.2(d) Time spent for customs / health / port authority formalities, pilotage from anchorage area
to berth, mooring or crossing river mouth, not to count as Laytime.

22.2(e) Discharge will be considered completed and Laytime will cease upon disconnection of
the loading arms (delivery hoses) provided the relevant shipping documents are procured and
put on the vessel within 3 (Three) hours after disconnection of the hoses. Should the shipping
documents not be put on board the vessel within 3 (Three) hours, then any time lost in excess
of 3 (Three) hours shall count as Laytime, and in case of demurrage, shall be paid by the Buyer
at the relevant demurrage rate as agreed.

22.2(f) Should the Seller’s nominated vessel arrive before the agreed discharge window, the
Buyer will take all commercially reasonable measures in its power to effect the discharge as
promptly as possible, but the computation of Laytime will start only on 06:00 of the first day of
the discharge window or upon the actual berthing of the vessel, whichever first occurs as
agreed.

22.2(g) Should the Seller’s nominated vessel arrive after the agreed discharge window, the
Seller will take all commercially reasonable measure in its power to effect the discharge of the
vessel as promptly as possible, but the computation of the Laytime will start only upon the
actual berthing of the vessel as agreed.

22.2(h) Laytime for part cargoes shall be prorated according to cargo size as agreed.

22.3 DEMURRAGES

22.3(a) In the event that the Laytime is exceeded, the Buyer shall pay to the Seller demurrage in
respect of the excess time based on a sum agreed thereof or in the absence of any agreement
on the Vessel's charter party demurrage rate per Day (or pro rata for part of a Day). In the
absence of such rate the Parties shall obtain the appropriate demurrage rate for the size of
Vessel, type and capacity and voyage in question from the London Tanker Broker's Panel
Limited which findings shall be final and binding on both Parties. The obtained demurrage rate
shall be the one current on the date the Vessel commences loading.
Seller’s Signature & Seal Buyer’s Signature & Seal

Page 13 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

22.3(b) The Seller warrants that the Vessel is able to discharge the Cargo within the Laytime
provided shore facilities permit. All time lost as a result of the Vessel being unable to discharge
the Cargo in accordance with agreed pumping time, through fault of the Vessel, shall not count
as Laytime nor, if the Vessel is on demurrage as time on demurrage.

22.3(c) If, however, demurrage is incurred directly attributable to adverse weather or sea state
conditions or as a result of fire, explosion, strike, lockout, stoppage or restraint of labor or by
breakdown or failure of machinery, plant or equipment at the Discharge Port (not in either case
resulting from want of due diligence by the Buyer or it's consignee and always provided that the
Vessel is not already on demurrage), the rate of demurrage shall be reduced by one-half per
running hour or pro rata for part of an hour for demurrage thus incurred.

22.3(d) Payment of demurrage due shall be paid by the Buyer to the Seller no later than thirty
(30) Days after the Seller's invoicing supported by appropriate documentation is received by the
Buyer.

CLAUSE 23 - ORDER OF ASSIGNMENT

23.1 The property and risk on the product shall pass to the Buyer as the product passes
Vessel's first (1st) permanent hose connection at loading port.

23.2The Contract may be assigned by either Buyer or Seller, but only with the prior, expressed
written agreement of both Buyer and Seller. Subject to such agreement, Buyer and/or Seller
may at any time assign the Contract or its total or partial performance hereof to any other
Company, which assumes the obligations of the Buyer or Seller, as appropriate, under the
terms of the assignment, with quality and quantity to remain as stated in the original Contract.

23.3 Formal notice of the assignment shall be rendered to the Buyer and Seller immediately for
acceptance, expressly indicating thereon the assignee’s address and countersigned by
assignee to signify acceptance of the obligations in the Contract. Written Buyer’s consent or
seller’s consent, as appropriate to be given by original letter, posted by special courier prior to
any assignment.

CLAUSE 24 - CONTRACTUAL VALIDITY PERIOD

The present Contract comes into force on the day of it’s signing by the Parties and shall remain
valid until full settlement in respect to the contractual payment.

CLAUSE 25 - GENERAL

25.1 The Contract contains the entire understanding between the Parties with respect to the
transactions contemplated hereby; and, it may only be amended by mutual agreement signed
by the Parties. Any prior agreement, written or verbal is deemed merged herein and shall be
superseded by the Contract.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 14 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

25.2 All taxes, customs and other duties connected with performance of this Contract levied
before the point of receipt of the Goods shall be paid by the Seller.

25.3All taxes and duties levied after the point of receipt shall be paid by the Buyer.

25.4 All signed appendices, annexes and supplements shall constitute an integral part of the
Contract.

25.5Except for the cases, expressly stipulated in the present Contract, neither of the Parties
should bear responsibility for indirect losses, which have arisen as a result of performance (non-
performance) of the obligations under the present Contract.

25.6 Grammatical mistakes, typing errors, if any, shall not be regarded as contradictions.

25.7 Any information contained herein shall be kept confidential, and shall not be subsequently
disclosed to third parties or reproduced in any way, except to third parties who are necessary to
the implementation of the Contract.

25.8 The Seller reserves the right to nominate alternate or additional Banking Coordinates to
undertake any of the Banking processes required by the Contract.

25.9No contact may be made with Seller’s Bank by Buyer and his respective Bank without prior
written approval from seller. Any such unauthorized contact shall entitle the non-offending party
to immediately cancel the Contract, at their election.

25.10EDT (Electronic Document Transmission) shall be deemed to be valid and enforceable in

respect of the provisions of the Contract. Either party shall be in a position to request a hard
copy of any previous electronic transmitted document.

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 15 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

APPENDIX NO. 1

Specification as agreed for RUSSIAN JP54 GOST 10227-86

CERTIFICATE OF QUALITY

PROPERTY UNIT RESULT TEST-IP METHOD ASTM

ADDITIVES
Antioxidantinhydroprocessedfuel mg/I min 17
mg/I max 24
Antioxidantnonhydroprocessedfuel mg/I min 24
Static dissipaterfirstdopingASA-3 mg/I min 1
Stadis 450 mg/I min 3
COMBUSTION PROPERTIES
Specific energy, net mj/lkg min 18.4 D4808
Smoke point mm min 19 D1322
Luminomitter number min 45 D1740
Naphthalenes % vol max 3 D1840

COMPOSITION
TotalAcidity 354 D3242
mgKOH/g max 0.01
Aromatics 158 D1318
% vol max 22
Sulphur,Total 107 D1266/2622
%mass max 0.30
Sulphur, Mercaptan 342 D3227
%mass max 0.003
Doctor,test 30 D4952
VOLATILITY
Report
InitialBoilingPoint
Centigrade max 240
10% volatC
Report
20% volatC
Report D96
50% volatC
Centigrade Report
80% volatC
% vol max 300
Endpoint
% vol max 1.5 170/303 D56/3828
Recoveredresiduals
Centigrade max 1.5 180/385 D1298
Loss 2 max 42
FlashPoint kg/m min/max 776/840
Densityat 15C
LOWTEMPERATURE
FreezingPoint Centigrade max -40 15 D2256
CORROSION
Corrosion,copper(2hrs at100C) max 1 154
D130
Corrosion,silver(4hrs at50C) max 1 227
STABILITY
Thermalstability control,Temp. 280C
Filter pressure,differentialmm.Hg max 323
Tube depositrating(visual) max 25 <3
CONTAMINATIONS
ExistentGum max 7
D361
Waterreaction,interface rating max 16 131
mg/100ml D1084
Fuelwithstatic dissipateradditives min 75 258
D3648
Fuelwithoutstatic dissipateradditive min 85

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 16 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

APPENDIX NO. 2

DELIVERY SCHEDULE:

MONTH YEAR PORT SHIPMENT QTY

AGGREGATE QTY (BBL)
(BBL)
JANUARY 2015 CIF ROTTERDAM 5,000,000.0 5,000,000.0

FEBRUARY 2015 CIF ROTTERDAM 5,000,000.0 10,000,000.0

MARCH 2015 CIF ROTTERDAM 5,000,000.0 15,000,000.0

APRIL 2015 CIF ROTTERDAM 5,000,000.0 20,000,000.0

MAY 2015 CIF ROTTERDAM 5,000,000.0 25,000,000.0

JUNE 2015 CIF ROTTERDAM 5,000,000.0 30,000,000.0

JULY 2015 CIF ROTTERDAM 5,000,000.0 35,000,000.0

AUGUST 2015 CIF ROTTERDAM 5,000,000.0 40,000,000.0

SEPTEMBER 2015 CIF ROTTERDAM 5,000,000.0 45,000,000.0

OCTOBER 2015 CIF ROTTERDAM 5,000,000.0 50,000,000.0

NOVEMBER 2015 CIF ROTTERDAM 5,000,000.0 55,000,000.0

DECEMBER 2015 CIF ROTTERDAM 5,000,000.0 60,000,000.0

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 17 of 18
 SALES AND PURCHAS AGREEMENT FOR RUSSIAN
AVIATION KEROSENE COLONIAL JP54 GOST 10227-86

AUTHORIZED SIGNATORIES OF CONFORMING PARTIES:

FOR THE SELLER: KOZARA GmbH

__________________________________

Seller Authorized Signature

Date: 23th, December , 2014

Name: Dr. MOHAMMED SAYED ABDALLA KOTB
Position held: CEO

FOR THE BUYER:US OIL&GAS TRADE PTE.LTD,

_________________________________

Buyer Authorized Signature

Date: December 23, 2014

Name: JOE KWANIL MOON
Position held: PREIDENT/MD

----------------------------END OF CONTRACT-----------------------------

Seller’s Signature & Seal Buyer’s Signature & Seal

Page 18 of 18