CEDC » Topics » §1. Expenses

This excerpt taken from the CEDC 8-K filed Jul 15, 2005.

§1. Expenses


1. Subject to the provisions of Section 3 below, each of the Seller and the Buyer shall cover their own costs and expenses incurred in relation to this Agreement.


2. Subject to the provisions of Section 3 below, each of the Seller and the Buyer shall bear its own fees and commissions due in relation to the conclusion of this Agreement.


3. The Buyer shall pay all costs, fees and commissions related to purchasing the Shares and the Employee Shares from the Seller, including the fees for a permit to transfer the shares off the regulated market, the commissions and fees payable to the Brokerage House, as well as the fees and commissions payable by the Seller or the Brokerage House to the National Depository for Securities (Krajowy Depozyt Papierów Wartosciowych S.A.), the Warsaw Stock Exchange (Gielda Papierow Wartosciowych w Warszawie S.A.) and/or the SEC. The Buyer shall not cover the costs of the fees payable to the Brokerage House or to other entities in relation to advisory services related to the Company’s privatization that will be covered by the Seller.


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