Duration and Termination

7.1 This Agreement shall come into force on the date of its execution and shall be in effect until it is fulfilled in accordance with its terms. The period of this Agreement shall not exceed one year.

7.2 Either party shall have the right to terminate the Agreement by giving 30 calendar days notice to the other party. Provided that neither party has sent the other party a notice of termination 30 calendar days before the expiration of this Agreement in accordance with Clause 7.1, this Agreement shall be deemed concluded for an unlimited duration and may be terminated by any party on 30 calendar days written notice.

7.3 Either party shall be entitled to terminate this Agreement forthwith by written notice to the other if:

a) the other party is in material breach of this Agreement and fails to remedy the same, if such breach is capable of remedy, within 30 calendar days of receipt of a written notice specifying the details of such breach and the requirement for such breach to be remedied;

b) the other party ceases to carry on business;

c) if the parties fail to reach any agreement as contemplated by this Agreement.

7.4 This Agreement may be terminated at any time by express agreement of the parties.

Notices

8.1 Any notice given pursuant to this Agreement shall be in writing and signed by persons acting on behalf of the parties.

Applicable Law and Dispute Resolution

9.1 This Agreement is governed by and shall be construed in accordance with the laws of Russia.

9.2 All disputes arising from this Agreement shall be resolved in an amicable way. If the parties fail to reach an agreement in an amicable way, such dispute shall be resolved by the International Commercial Arbitration Court under the Chamber of Commerce and Trade of the Russian Federation.