Stipulation,Agreement: TEXTAINER EQUIPMENT MANAGEMENT LIMITED VS. PACIFIC INTER-LINK SDN BDH et al

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                                TORN

SUPERIOR COURT OF CALIFORNIA
COUNTY OF SAN FRANCISCO

. Document Scanning Lead Sheet
Mar-16-2012 4:09 pm

Case Number: CGC-10-498933
Filing Date: Mar-14-2012 2:24
Juke Box: 001 Image: 03534039
STIPULATION

TEXTAINER EQUIPMENT MANAGEMENT LIMITED VS. PACIFIC INTER-LINK SDN BDH

001C03534039

Instructions:
Please place this sheet on top of the document to be scanned.co oe ER HW A OY hw

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A Professional Law Corporation

go Fourth Street San Franrisen Caunty Sunerior Co!

Yreka, CA 96097
Tel: $30-841-3670 MAR 1 2 2012

Fax: 541-770-7483 CLERK QE JHE COURT
Attorney for Plaintiff oS

Textainer Equipment Management Limited

William M. Duncan, SBN 133788 F L E D

SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SAN FRANCISCO
APPEALS DIVISION

&

TEXTAINER EQUIPMENT MANAGEMENT
LIMITED,

CIVIL CASE NO. CGC 10-498933

Plaintiff/Respondent, STIPULATION OF CERTAIN
RESPONDENT'S EXHIBITS
vs. REGARDING AUTHENTICITY
OF ADMITTED TRIAL
. EXHIBITS FOR CLERK’S
PACIFIC INTER-LINK. SDN BDH, a TRANSCRIPT

company incorporated under the laws of |
Malaysia, and DOES | through 10, inclusive,

Defendant/Appellant.

APPEAL FILED: 9/6/2011

STIPULATION OF APPELLANT & RESPONDENT REGARDING
AUTHENTICITY OP ADMITTED TRIAL EXHIBIT

Textainer v, Pacific Inter-Link

Case'No. CGC 10-498933

Page |TO THE CLERK OF THE COURT:

Appellant and Respondent stipulate that attached exhibits 22 and $7 are true and
correct copies of said exhibits and that they were admitted into evidence during trial on
motion of plaintiff and respondent, Textainer Equipment Management Limited,

Appellant and Respondent further stipulate that the attached exhibits 1,2, 3,4, 5,
6, 7, 8,9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 21, 30, 31, 32, 33, 34, 35, 36, 37, 38,
39,40, 42, 43, 44, 45, 46, 47, 48, 49, 50, 54, and 58 were admitted into evidence upen
motion of plaintiff and that the original exhibits admitted into evidence are attached
hereto.

Appellant and Respondent further Stipulate that “Plaintiff's List of Admitted
Exhibits” is a true and correct Copy of the same and that it be included in the Clerk’s

Transcript,
Dated: March &, 2012 WILLIAM M. DUNCAN, A PROF. LAW CORP.
ney for Piaintiff/Respondent
TEXTAINER EQUIPMENT MANAGEMENT
LIMITED
Dated: March L 2012 DLA PIPLER US LLP

, Attomeys for Berean Ap ellant
PACIFIC INTER-LINK SDN BDH

STIPULATION OF APPELLANT & RESPONDENT REGARDING

AUTHENTICITY OF ADMITTED TRIAL EXHIBIT Page 2
Textainer v. Pacific Inter-Link

Case No. CGC 10-498933oO

EXHIBIT 22

(Chon
ow New
t Please address TEXTAINER - $50 California Slreet, 1Sth Figor Telephone. 415.434 0851
e€ queries (0: San Franciseo, California $4 198 Facsimile; 415.434.0599
xX USA
LESSEE: LESSOR:
ASIATIC SHIPPING SERVICES INC TEXTAINER EQUIPMENT
PANAMA~REPUBLIC OF PANAMA MENAGEMENT LIMITED
C/O P.O. BOX 64 »
45, JALAN TUN ISMAIL *
50480 KUALA LUMPUR, MALAYSIA *
TEML YAT NO. GB 493 6743 05
INVOICE NO, LESSEE LEASE PAGE
V10372131 24-03-21 PLINK1 = INDLE118 1
£QP TYPE OF
TYPE CHARGE DESCRIPTION
AS AGREED PER THE TERMS OF YOUR AGREC-
MENT, WE BILL YOUR ACCOUNT FOR
RELOCATLON/POSITIONING OF 198 x 20°
STANDARD CONTAINERS ANG 81 X 40' HIGH
CUBE CONTAINERS, AT RATE OF USO4DD. 06
PER UNIT
BS SUSPENSE 198 « 20° STANDAR MTATNERS x 3406 90 79200.00
BS «SUSPENSE 81 X 4G) HIGH CUBE CONTAINERS x $400 G6 32490.66

MLCUZ11193
MLCUZ19296
MLCU215663
MLCU215 666
MLCU216237
MLCUZ18375
MLCU2 20001
MLCU 226148
MLCU226524
MLCU245795,
MLCUZd9611
MLCUZ56517
MLCU2 56546
MLCU2565 90
MLCUZ 62263
MECU2 684 35
MLCUZ T1694
MLCUZB2 950
MULCU28 3763
MLCEUZBGBEO
MLCU 288961
MLCU293607
MLCU2 95887
NLCOU312959
MLCU321099

TEXUZC3329
TEXUZO3422
TEXU20S398
TEXU205483
TEXUZ05997
TEXU206131
TEXU206492
TExU2Z074 97
PEMUZOTITG
TRXU208159
TEXU208 184
TEXU20a 14S
TRXUZ104148
TEXU212638
PEXU222051
TEXU2Z1 2138
TEAUZ1 3420
TEX 21491)
PEXUDLSLES
L 15
TEXUE 7904
TEXUZIIII3

TEXDE20912
TEAUZ2212%

TEXUSG POF S
TEXU34 8507

FEXU3GRSB1 -
PEKUIES2E7
TEKUG9375
TEXU35SO137
TEXU352552
TEXUSS2562
was2€20
TEXUSS2637
TEXU393718
TEXUIS386S
TExUI54493
TEXU3S 7644
TEXVISSS 78
TEXUBBL LSE
TEXUSELELS
TEXU362421
TERY 3G2E52
TEXU364640
TEXY3§ 6306
TRXUIOIOIZ
TEXU368228
TRKUIERI SB
UI68751

wwe texisinercom650 Califorma Sireei, 6th Flos:
San Francisco, California 94108

USA

O)

~
~
t Please address TEXTAINER
e queries 10:
LESSEE:
ASIATIC SHIPPING SER
PANAMA-REPUBLIC OF >,

C/O P.O. BOX 64
45, JALAN TUN ISMATL
50489 KUALA LUMPUR

INVOICE NO.
110371171

OaTE
14-03-11

LESSEE
PLINKL

eQp  tyee OF

TYPE CHARGE OESCRIPTION

MLCUS40163
MLCU34535?
MLCU35 1189
MLCUI60481
MLCUIS1755
MLCU392463
PROUZ0I134
PRSU201008
PRSU203095
PRSU2029¢8
PRSU204374
PRSU204635
PRSUZ04675
PRSUZ98016
PREUZLI1OGE
PRSU21)853
PRSU212184
PRSUZ12937
PRSU21I216
PRSUZ215585
PRSUZ 16082
PRSU216412
PRSU219109
PRSU219214
PRSU219256
PRSU219578
PRSUZZS056
PRSU225253
PRSUZZ5743
PRSU226200
PRSU2 26861
PRSUZ27859
PRSU229064
PRSUZ29180
PRSUZ29426

VICES INC
ANAMA

MALAYSIA,

LEASE
INOL8i18

PEKU223683
TEXU223703
TEXU225167
TEXU225366
TEXUZZ7111
TEXU229287
TEX02 30510
PEXUZ31S24
TEXU232950
TEXU22«008
TEXU226533
PEXUZ35471
TOXU2 36803
TEXU2I9974
TEXUZ46646
TEXU240998
TEXO2461179
TEXUZE 4019
TEKUZ94196,
TEXUZ4E94
TEXU25664
TERUZS4 220
TEXU2§ 4426
TEXU259¢d67
PEXUZSS37L
TEXU255B20
TEXUZ58270
TEAUZIS629
TEXU332348
TERUI32383
TEXU332503
TEXU334654
TEXUII6I69
TEXUII 7654
TEXUI37744

Telephone 415.430.0551
Facsimite 415.434.0599
LESSOR:

TEXTAINER EQUIPMENT
MANAGEMENT LIMITED

TEML VAT NO. GB 493 6743 95

PAS!

o

mS

TEXU368915
TEXU369225
TEXURE9ASL
PEXI37H997
TEXU372510
TEXU3 72694
EXU372762
TEXU3 73165
TEXU3 723495
TEXU374 082
TEXU37E920
TEXU3 76945
TEXU3769S2
TEXUIT TODS
TEXU377956
TPEXUSITI24
TEXU377323
TEXU380586
TEXUIB2015
YEXUIO4553
TENUSB6S37
TEXURB6149
TEKU388501
TERUIE91LE6
TEXU39OGS1
TEXU393345
TEXU393651
TOXUSSS457
TEXUIGSO39
TEXURI69 73
TERVIIILI4
TEXUS 97799
TEXU397939
TGHU202 262
TGHUZ0ANG?

won leaiainer.com-~
_

we
t Please address YEXTAINER 850 Catifernia Street, [61h Floor Teiepione 415.434.0551
@ queries 10° San Franc.seo, California 94108 Facsuntie 455.434.0599
xX USA
LESSEE: LESSOR:
ASIATIC SHIPPING SERVICES INC TEATAINER EQUIPMENT
PANAMA-REPUBLIC OF PANAMA MANAGEMENT LIMITED
C/O P.O. BOX 64 *
45, JALAN TUN ISMAIL *
50480 KUALA LUMPUR, MALAYSIA *
TEM. VET WO. G8 493 5743 95
INVOICE NO DATE LESSES LEASE FAGE
LLO371171 4-03-22 PLINEL  INALaTLS 3

BQe TYPE OF

TYRE CHARGE DESCRIETION
TEXUZ0G144 TEXUI40I3T PGHUZI0G82
TEXU200221 TEKUIG2Z01 TGHUZZ0259
TEXUZO1257 TEXUD42408 TEHUD24I2¢
TEXU20LE99 TEXY246673 UXXU22
TEXU202049 TEXU346986 UXxu22 1073
TEXU203008 TEXUI47478 UXKUZZ469
198 X 20' STANDARO CONTAINERS TOTAL
MLCU930550 TEXUS29171 TEXUSS4B 44
MLCU9IO583 TEXUS31777? TEXUSSS774
MLCU950109 TEXUS32314 TEKUSS75950
MLCU9GO1H8 TEXUS32357 TEXUS6I9SL
PRSUGEOOST TEXUSSIBGT TGHUTCIZI3
TEXUSOLIS] TEXUSI5G71 TEHUIOGO LG
PEXUSOGLOZ TEXUSSO5S7 TCORUTIGMRE
TEXUSOUSSO TEXUSIESLO TGHUI0S9B2
PEXUSO9136 TEXUSIGEIC TOHUIOT 790,
TERUSOGS G4 TEXUSIISZ6 MEHIIZLLAS
TEXUSIOL4O TEXUSI7528 TGHU722018
PEXUSLIGT4 TEXUS39GR4 TGHUT22526
TEXUSIZ462 TEKUS38S06 TGHUT
TEXUSIS670 TEXVS42I86 TOHUT
TEXUSIS9ZS TEXUSA2ZE06 TGHUTIE9T2
TEXUSLT3OG TEXUSdS419 TGHUTI72S98
TEXUSLI720 TEXUS45824 TGHU
TEXUSETTS) TEXUS46342 TGHUT43214
TEXUS17763 TExuSdG6e63 TSOHUTAIS74
FEXUSIG116 THXYS47063 TOHUTA S82
TEXUSI9247 TEXUS47S27 TOHUT4TE22
TEAUSZ1160 TEXUS48233 TGNUIGIS 14
TEXUS22028 TEXUSGB405 TGHUTS4364
TEXUS22240 TEXUSSIIB9 TOHUTSS 364
TEXUS249¢50 TEXUSS2 793 TONY76G563
TEAUS2STI€ TRAUSS3724 TGHUIGISGS
TEXUS28409 TEXUS94283 TGHUTS1949q)

Please address TEXTAINER

USA

650 Celiforma Street, 16th Floor
queries 10 San Francisco, Catiforsia 94 108

Telephone: 915.934.0551
Facsimile 495.434 0595

ESSEE

ATIC SHIPPING SERVICES INC.
PANAMA-REPUBLIC OF PANAMA

C/O 8.0. BOX 6s

45, JALAN TUN TSMAIL

$0480 KUALA LUMPUR, MALAYSIA

INVOICE NO. DATE
1,0371171

LESSEE LEASE
14-03-11 PLINKi INOLE118

EQP TYPE OF

TYPE CHARGE GESCRIPTION

LESSOR:
TEXTATINER EQUIPMENT
MANAGEMENT LIMETED

TEML VAT NO. GB 493 6743 05
PAGE
4

31 % 40° HIGH CUBE CONTAINERS TOTAL

PAY: TEXTAINER EQUIPMENT MANAGEMENT LTC.
ACCOUNT NO: 10020-108435-002
SWIFT CODE: HKBC CATT
HS8C BANK CANADA
885 W. GEORGIA ST, VANCOUVER, CANADA

wader iainer.com

YS DOLLARS

222,609.00EXHIBIT 57

()vwwwwwewwewweww ee ~ ~~ _ _ _

()

rom: wang veng Lnong
Sent: Wednesday, February @3, 2610 12:37 PM
To: Richard Murghy

Cc: andy Lim; Vincent Mak; Ning Kim Lin
Subject: RE: PLINK1 - SOA eS OF DEC'Ag

Hi Richard,
Summary of discussions I had with Plink yesterday as follows

~ There was a contradictory issue brought up on the total lost declaration. They contemdlated
that they had already declared totel lost for the list of units they given to us back in
Mar’@9, I countered that as far as our records is concerned, we are stiil waiting for their
declaration confzrmation back then

- AS a cesult of this, Mr. Fouad commented that tne daily rental paid from then tili now
shovld be waived and that the amount paid are to be considered as payment for the DV, I did
conveyed tnat this will definitely not be considered as what they perceived or claims,

~ Mr. Fouad’s intention is to nave this total lost issue resolved and that they will then
paid all the outstanding invoices in full. He dig Continuously mentioned that they hed
resolved the same total lost issues with the other 2 lessors of which the discount given was
substentiably higher than our proposed amount

- On this issue, I did highiignted to them that the previous proposed discounts in Mar'@9 is
ho longer valid and that we are to re-evaluate if there will be discounts given.

Thonn ] Aa©)
©)

In my opinion, to have this issue with PLinki resolved without further toenr acti
we to Consider extending the discounts we gave them in Mar'@9. They wil) definite

tO get more discounts as they are looking at around 36%-45% but we don’t need to
it.

ons, perhaps
ty be trying
succumb to

Please advice your tnoughts and opinion, thanks

Regards. ‘
ChongList of
Exhibits~ ~
ww ~~

04/27/2811 21:45 5417707483 WILLIAM DUNCAN PAGE 82/85

1 | WILLIAM M. DUNCAN (CA Bar #133788)
A Professional Law Corporation
2 || 600 Fourth Street
P.O. Box 929
3] Yreka, CA 96097
Tek: (530) 841-2670
41 Bax: (5415 770-7483
5
6
7

Attormeys For Plaintiff

8 SUPERIOR COURT OF THE STATE OF CALIFORNIA
9 COUNTY OF SAN FRANCISCO
10
1 | TEXTAINER EQUIPMENT MANAGEMENT
a LIMITED, CIVIL CASE NO. CGC 16-498933
Plaintiff, PLAINTIFF'S LIST
13 OF ADMITTED EXHIBITS
VS,
i4

13 | PACIFIC INTER-LINK SDN BDH, a
company incorporated under the laws of
16 || Malaysia, and DORS | through 10, inclusive,

Trial Date: April 18, 20t¢
Judge: Hon, Michacl I. Begert

)
)
)
)
)
} Complaint Filed: April 22,2010 -
}
}

Dept: 218
17 Defendants.
18
Wo Pursuant to the directions of the Court at trial in this matter, Plaintiff Textainer

20 || Equipment Management Limited submits the following list of its exhibits which were admitted

21 | into evidence at trial:

22 a "S

23 EXH. # EXHIBIT DESCRIPTION

oa} Lease Agreement Terms and Conditions, and Schedules 1, 2 and 3 thereto,

5 Formal Notice of Default & Termination - Lease Agrcement Dated as of 1" of Anti
26 Continuing Notice of Default ~ Lease Agreement Dated as of 1 of April 2001

7 Invoice No, 100313250 did March 31, 2010 for $443,656.87

28 Invoice No. 110371171 dtd March 14, 2011 in amount $111,600.

‘age |
List of Exhibits Admitted for Plaintiffam

Nw Net

84/27/2811 21:45 5417707483 WILLIAM DUNCAN PAGE

Oo oe A A Hh mh we Ww

Baos = 65

[6 Stint of Account as of 12/31/2010
7__| Stmt of Acoount as of 3/14/2011 ~
8 Invoice No. 100316586 in amount $4258.20
9 Invoice No. INT-PLINK1-TEXSI-20),002 in amount $1901.17 ~ |
10 __| Invoice No. INT-PLINK |-TEXSI-201003 in amsount $768 09
j rh Invoice INT-PLINK 1-TEXSI-201.004 in amount $858,17
12 Invoice No, SC-PLINK-TBXSI-20! 005 in amount $7734,35 __|
3 Invoice No, SC-PLINK1-TEXSI-201006 in amount $2859.59
ld Invoice No, $C-PLINK1-TEXS1-201007 in amount $2954.91
| 15 Tnvoice No. SC-PLINK 1-TEXS1-201008: in amount $2954.91
16 Invoice No. SC-PLINK J-TEXSI-201009 in amount $2849.59
17 Invoice No, $C-PLINK1-TEXSI-201010 in amount $2954.91

18 Invoice No. SC-PLINK! -TEXSI-20190) in amount $2859.59
19 Invoice No, 8C-PLINK1-TEXSI-201012 in amount $2954.91
20 Invoice No. SC-PLINK]-TEXSI-201 101 in amount $2954.91

at Invoice No. SC-PLINK !-TEXSI-201 102 in amount $2668.95
28 | Invoice No. 110371171 dtd March 14, 201! in amount $111,600.

30 E-mail from Chong Pen dtd March J, 2007 @ J:32 p.m. and associated e-mails.
i E-mail from Chong Peng dicd March 20, 2007 @ 3:04 and associated e-mails
—

32 E-mail fom Chong Peng dtd Sept. 14, 2007 @ 12:18 p.m. and associated e-mails,
Co
| 33 E-mait from Saad Khoury dtd July 19, 2008 @ 11:04 a.m. and associated e-mails

34 E-mail ftom Saad Khoury dtd luly 19, 2007 @ 7:12 p.m.

38 E-inail from Chong Peng dtd October 8, 2068 @ 3:37 p.m. and associated e-mails.

36 E-mail from Saad Khoury dtd October 16, 2008 @ 11:38 a.m. and associated e-
tails,

37 E-mail from Chong Peng dtd Apri] |, 2009 @ 11:36 a.m. and associated e-mails.
38 E-mail from Saad Khoury dtd April 1, 2007 @ 3:38 p.m. and associated e-mails.
39 E-mait fom Saad Khoury dtd July £9, 2008 @ 11:04 a.m.

40 B-mail from Saad Khoury dtd Oct, 16,2008 @ 11:38 a.m. and associated e-mails,
42 E-mail from Chong Peng dtd April 1, 2009 @ 1:38 a.m. and associated c-mails.

Page 2
List of Exhibits Admitted for Plaintiff

63/25” -_
~ cd cea eee
84/27/2011 21:45 417787483 WILLIAM DUNCAN PAGE &4/85
fi

eC -

1 | 43 E-mail from Chong Peng did April 13, 2009 @ 8:05 am. and associated e-mails,
E-mail from Chong Peng did April 14, 2009 @ 11:05 a.m. and associated e-mails,
31) 45 E-toai! from Chong Peng dtd Nov. 15, 2009 @ 12:01 p.m. and associated e-mails.

41} 46 B-mail ftom Chong Peng dtd Sept. 14, 2007 @ 12:03 a.m. and associated e-mails.
5 B-mail from Saad Khoury dtd Sept. 13, 2007 @ 10:25 an. and associated e-mails,
é [a E-mail from Chong Peng dtd Feb 8, 2010 @ 3:15 am.

7 ag _| E-mail from Chong Peng dtd July 10, 2007 @ 8:19 p.m. and associated e-mails,

$0 | B-mail from Saad Khoury dtd Oct. 17, 2007 @ 5:51 pm _|
54 E-mail from Chong Peng cttel Oct. 12, 2009 @ 10:04 p.m.
E-mail from Chong Peng dtd Feb. 3, 2010 @ 12:37 pm.
10 || 58 E-mail from Chia dtd March 9, 2010 @ 8:48 p.m. and associated e-mails,

UT Dated: April 25, 2011. WILLIAM M. DUNCAN, A PROF. LAW CORP.

homey for plaintiff

Page 3
List of Exhibits Admitted for Plaintiff‘we

TEXTAINER

LEASE AGREEMENT
4 TERMS AND CONDITIONS

DS oD et

This Lease Agreement, including ail attached Schedules, (the "Lease”) is made and entered into as of the 1ST day of
APRIL 2001 (the "Effective Bate"), by and between Textaiher Equipment Management Limited, a company incorporated
under the laws of Bermuda of Its assigns (hereinafter called the “Lessor"}, and HAYEL SAEED ANAM GROUP & COMPANIES, a
company incorporated unde? the laws of YEMEN, jointly and severally with, PACIFIC INTER-LINK SDN BHD, a company
incorporeted under the laws of MALAYSIA (hereinafter called the “Lessee").

Lessor, acting on its awn befialf or on behalf of undisdosed Container owners, shall lease to Lessee, and Lessee shall lease from
Lessor, the Containers described in Schedule 1 attached hereto and In ‘any additional schedules which may hereafter be made a
part hereof by execution by both Lessor and Lessee and attachment hereto, afl upon the terms and conditions set forth herein.

2. DEFINITIONS:

“Build-down Period” means the perlod designated in any Schedule 1 hereto, extending beyond the termination date of this Lease, wherein
the Lessee will continue to be Invoiced the charges agreed herein for ail Containers remaining Or-hire until re-delivered. -

“Bulid-up Period" means an Initial period of the Lease wherein Lessee ts accepUIng Containers from Lessor up to a spedhied minimum
umber of Contalnets to te leased under this Lease.

"Containers" means, the equipment, and any machinery supplied with the equipment, eased to Lessee hereunder and described on any
Schedule 1 to this Lease.

“Damaye" means physical defects in a Container as defined in (2) the current Institute of International Container Lessors’ ("IICL")
Inspection Guide (for a non-refrigerated Container), or (b) the Container manufacturers’ repair, service and maintenance manval(s) (for 3
refigerated Container), and caused by 2 single event or a seties of single events during the perlod such Container is On-hire to Lessee,
except for Nérmal Wear and Tear.

“Damage Protection Plan” (DPP") means an optional arrangement whereby Lessor will assume responsibility for sore portion of the cost
(as sat forth In Schedule 2) of repair to any Container damaged while under lease to Lessee.

"Delivery Locations” means those locations, as set forth In Section 4, where Lessee may accept delivery of Containers.
“Direct Interchange" means the transfer of Containers from the Lessee to another lessee, in accordance with any Schedule 1 hereto.

“Environmental Laws" means, without limitation, any and all state, provincial, municipal, local, national and international laws, regulations,
standards or requirements relating to health, safety or pollution or protection of the environment, Including, without Umllation, those relating
to emissions, discharges, spills or other releases of threatened releases of Hazardous Substances Into or impocting the environment or
natural resources {including, without limitation, ambient alr, surface water, groundwater, fresh water, salt water, oceans, bays, sees, tdst
Waters, tlvers and their tributaries, lakes, storm drains, sanitary drains or land), or otherwise relating. to the manufacture, processing,
distribution, use, treatment, recycle, storage, disposal, transport, sale, offer for sale, distribution or handling of Hazardous Substances.

“Handling Charges” means chatges levied by Lessor based upon movements of the Containers into and out of Lessor's depots.

“Hazardous Substancay* means those substances, whether waste materials, raw matertals, finished products, coptoducts, byproducts of
any other materials a aflicies which (during use, handling, process, storage, emisslon, disposal, spil, release or any other activity) are
feguiated by, form the basls of ability under, of are defined as hazardous, extremely hazardous or toxke under any Environmental Laws,
including, without Hmitation, petroleum or any byproducts or fractions thereof, any form of natural gas, asbestos, polychlorinated bipheny!,
radon of other radioactivesubstances, infectious, cardnogenic, mutagenic ot etiologic agents; pestiddes, defoliants, explosives, flammables,
Corrosives, urea formaldehyde, alcohols, chemical solvents, potlutants or contaminants or any other material or substance which constitutes 9
health, safety or environmental hazard to any person, property or naturat resource, +

"In-Service Charges” means all charges Incurred in ports, depots, storage areas or otherwise arlsing out of the use of the Containers,
Induding without imitation, custom charges, whart Fees, all taxes, fees, penalties, and charges levied an oF in connection with the Containers

+ Subsequent to delivery, including, without limitation, property, sales, use and all further government levies, fees or charges, Induding without
limitation, fines, penalties and interest thereon.

“Lease,” “herein,” “hereunder” or other like words, unless the context otherwise requires, mean and Indude this Lease Agreement
{including at! schedules and appendices thereto), as the same may from time to time be supplemented or amended.

“Location Charges" means charges, including but not bmited to pick-up, drop-off, Off-hire Service, Direct Interchange and Handling
Charges, levied by Lessor whenever any Container Is delivered from or returned to a Lessor’s depot or to another lessee.

“Normal Wear ang Ter” means chenges to the condition of any Container, such as light rust and random small dents and scratches on
any side of the Container, consistent with proper treatment and use of a Container under conditions for which it was specifically designed by
employing acceptable methods of handling, securing, ground storage, ship stowage and transport, "Normal Wear and Tear" fe
changes to the condition of any Container which would have been prevented by routine washing and/or lubrication, spot painting, or other0)

normal repair or maintenance, or changes affecting security, water tightness, weather-proof qualities, mechanical and/or electricat function of
Integral components, the integrity of design or structure, or regulatory, dassification or certification requirements, or affecting the inside or
outside dimensions or cublc content of a Container (Whether or not such changes may threaten the safety of person or property).

“Off-hire Date" means the same date as the Return Date, but:

{a) in the case where &refrigerated Contalner has been returned with Damage, the “Off-hire Date" shall be the date upon which Lessee
has provided wrkiten autherization to repalr such Container; and

(®) in the case of any Container which Is not returned by Lessee due to such Container having been lost, stolen or damaged beyond repair
while in the possession of Lessee, the Off-hire Date shall be the date upon which Lessee has paid the Replacement Value of the
Coritainer to Lessor.

“Off-hire Service" means a service provided by Lessor wherein any Container subject to this service will be Off-hired as of the Return Date
and Lessor will be responstble for the cost of any sweeping of, steam or water deaning to, and/or label removal from such Container, up to &
total of one-half hour of labor time,

“On-hire Date” means the date upon which any Container Is delivered to the Lessee by Lesgor or Lessor's agent.

“Rental. Charges* means those charges to Lessee, as specified on any Schedule £ to this Lease, for the use of the Contalners during the
period from the On-hire Date through the Off-hire Date.

“Replacement Value" means the amount specified in any Schedule 1 lo this Lease which Lessor and Lessee agree will equal the cost to
Lessee to replace a Container which has been lest, stolen or damaged beyond repair,

"Return Date” means the date of physical return of any Container to a depot designated by Lessor.
“Return Locations” means depots designated by Lessor where Lessee may return (Off-hire) containers to Lessor.

"Vessel" means a ship owned or chartered by the Lessee or any of Its subsidiaries or affllates. The Vessel(s) are cetalled on any
Schedule 4,

TERM

‘The lerm of this Lease, except for any Schedule 1 hereto, (the "Term") shall commence on the date first above wrilten and continue
indefinitely until amended by mutual agreement of the parties or until terminated by Lessor under the terms of Section 14, The term of any
Schedule 1 hereto (the “Schedule 1 Term) shall be.as specified in Part (C) of any Schedule 1 hereto. This Lease and each Schedule t Tetm
's non-cancelabie and Irrevocable, and Lessee’s obligallons to pay alt Rental Charges end other charges with respect to the Containers
Covered by each Schedule 1 are absolute and unconditional, and shall not be subject to any abatement, reduction, setoff, defense of
counterdaim whatsoever. All aims and hablitles arising ou of acts and omissions of Lessee occurring during the Term of the Lease
Ginctuding, without fimitetton, Rental, Location and Handling Charges, as well as charges far loss or damage to the Contalniers) shall survive
any termination of this Lease. Moreover, with respect to each and every Container which Lessee has not returned to Lessor prior to the
Termination of the Lease, Lessee shal be fable to Lessor as though the Lease were soll in effect, This includes, but Is not limited to,
Lessee’s obligations lo Lessor under Sections 9, 10 and 12 of this Lease. :

EQUIPMENT

(a) This Lease covers the lease of Containers of types as specified In any Schedule 1 to this Lease. This Lease shail apply to all Containers,
Onrhire to Lessee as of the Effective Date and shall also apply to those Containers On-hire on or after the Effective Date,

(D) Lessor represents that all Containers were orginally manufactured to ISO specifications and have been treated to meet Austratian and
New Zealand timber treatment reguiations in effect as of the Effective Date of this Lease.

(c) Lessor represents that as of thelr On-hire Date, all Containers delivered from Lessor's depots will conform to Intemational Convention
for Safe Containers ("CSC") requirements, are plated accordingly, and will have no less than thirty (30) months validity before any re-
examination is required,

(0) Lessor has selected the Approved Continuous Examination Program ("ACEP") procedure for relnspection control.

{e) Lessee agrees to be responsible for the re-examination, induding all costs and expenses associated therewith, of the Containers, in
accordance with CSC regulations and requirements, both for Containers already on lease, and for those Container’ taken on iease
subsequent to the Sffective Date if such Containers remain On-bire beyond their Tespective perlods of CSC validity.

DELIVERY LOCATIONS:

Containers shalt be defivered from any of Lessor's depots, as specified on any Schedule 3, a5 and when available. Prior nolificatton of
Lessee’s requirements shall be given to an office or authorized agent of Lessor,

RETURN OF CONTAINERS

Tn accordance with any Schedule 1 hereto, the Lessee is obligated to return the Containers to the location(s) specified in the corresponding
‘Schedute 3, subject to the maximum return quantities specified In such Schedule 3. Lessor shall not be obligated to accept returns In excess
of those specified in such Schedule 3 (“Excess Retums"). For all such Excess Returns which Lessor agrees to accept, Lessee shall pay a fee
(“Excess Return Fee") as specified In such Schedule 1. Upon return of the Containers, Lessee will be responsible for the costs af repairing
the Containers in accordance with Sections 9 and 10 (subject to the terms of DPP, if any, in effect at Retum Date),BILLING AND PAYMENT

PAYMENT OF ALL CHARGES MUST BE MADE IN ACCORDANCE WITH INSTRUCTIONS STATED ON EACH INVOICE ISSUED BY LESSOR. ALL
CHARGES INVOICED BY LESSOR ARE DUE AND PAYABLE WITHIN THIRTY (30) DAYS FROM THE DATE OF €ACH INVOICE. IF LESSOR'S
INVOICE IS NOT PAID WHEN DUE, LESSOR MAY CHARGE, AS ADDITIONAL RENTAL, A SERVICE CHARGE AT THE RATE OF 3.5% PER
MONTH (18% PER ANNUM) ON THE UNPAID BALANCE.

LESSOR’S DEPOTS MAY AIL OR DISPATCH TO LESSEE INVOICES FOR REPAIR AND OTHER CHARGES FOR THE CONTAINERS. ALL
CHARGES INVOICED BY LESSOR'S DEPOTS ARE DUE AND PAYABLE TO SUCH DEPOTS WITHIN THIRTY (30) DAYS FROM THE DATE OF
EACH INVOICE. IF SUCH ENVOICE IS NOT PAID WHEN.DUE AND LESSOR IS REQUIRED TO PAY SUCH INVOICE TO JTS DEPOT ON BEHALF
OF LESSEE, LESSOR MAY-SHARGE LESSEE, AS ADDITIONAL RENTAL; A SERVICE CHARGE AT THE RATE OF 1.5% PER MONTH (18% PER

ANNUM) ON THE UNPAID*BALANCE.

(2) Rental, Hangiine ani Location Charges. During the Ter, Lessee wl be Invlced on a manthy bis for spetied Rental, Handing
and Location Chara.

{b) Repair Charaes. If gepairs are required to Containers pursuant to elther Section 9 or 10 of this Lease, and Lessee falls to make such
repairs, Lessor wil large Lessee and Lessee will pay Lessor all costs and expenses Incurred by Lessor in making such repairs

(c) FBEUREREAEWani2iitin the event that Lessee shall become responsible under the Lease for the Replacement Value of Containers,
harge Lessee, and Lessee will pay Lessor for the Replacement Valve of such Containers.

(6) In-Service Charges. Puring the Term, Lessee will be responsible for, and shai pay directly, all In-Service Charges.

INSPECTION
Lessee acknowledges that jhe Containers are In good condition and repair as of the On-hire Date of each Container.

EXCLUSION OF WARRANTIES

ALL CONTAINERS ARE LEASED AS 1S, AND LESSOR WARRANTS ONLY THAT THEY CORRESPOND WITH THE DESCRIPTION SET OUT IN THE
LEASE, AND THAT SO LONG AS NO EVENT OF DEFAULT HAS OCCURRED LESSEE SHALL HAVE QUIET POSSESSION AS AGAINST ANY
PERSON CLAIMING UNDER OR THROUGH LESSOR. SAVE AS AFORESAID, NO CONDITION OR WARRANTY WHATSOEVER OF ANY KINO HAS

BEEN OR 7S GIVEN BY LESSOR IN RELATION TO THE CONTAINERS, AND ALL CONDITIONS AND WARRANTIES: IN RELATION THERETD,
WHETHER EXPRESSED OR IMPLIED, WHETHER STATUTORY, COLLATERAL HERETO OR OTHERWISE, WHETHER IN RELATION TO THE
FITNESS OF THE CONTAINERS OR ANY ITEM THEREOF FOR ANY PARTICULAR PURPOSE, OR IN COMPLIANCE WITH ANY CONVENTION,
STATUTE, REGULATION, ORDER OR OTHER’ PROVISION OF LAW OR STANDARD, OR WHETHER IN RELATION TO MERCHANTABILITY OR
AS TO DESCRIPTION, STATE, QUALITY OR CONDITION OF THE CONTAINERS OR ANY ITEM THEREOF AT DELIVERY OR AT ANY OTHER
TIME, ARE HEREBY EXCLUDED AND EXTINGUISHED.

OPERATION, MAINTENANCE AND REPAIRS.

(2) Lessee shall, at its sole expense, keep the Containers free from Damage, and maintain the Contalners in good order and repalr and
shall require its sub-lessees (W any) to do likewise, Normal Wear and Tear excepted.

(0) Lessee shall use each Container so a5 to comply with afl foading limitations, handling procedures and operating Instructions, and to
prevent excessive Impact, unbalanced loading, and other hazardous conditions. Lessee shal} not use the Containels for storage of
transportation of Hazardous Substances or other unsuitable contents which may corrode, oxidize, severely Gent, puncture,

In, or otherwise damage the Containers or be In contravention of any Environmental Laws.

(c) Except as otherwise provided herein, Lessee shall be Hable for all Damage sustained by any Container prior to its retum to Lessor,
Including, without limitation, costs associated with: (1) contamination from Hazardous Substances, (il) removal and disposal of any
Hazardous Substances and (iil) the removal and disposal of eny Container, or components thereof, affected by Hazardous Substances.
Lessee shal! not be responsible for such Normal Wear and Tear as may reasonably be expected between delivery of the Containers and
their Return Date, cr for such Damage as ts conclusively shown th have been caused by Lessor.

(0) Allimprovements, repalrs, accessories, additions and replacements made or attached to any Container by Lessee become fixtures, part
of the Container and the property of Lessor. without Lessor incurring any lability therefor, Lessee shall make no modifications,
iinprovements, repairs or replacements, nor attach accessories or additions to any Contatner without the prior writtén consent of
Lessor, exicept as may be necessary for emergency purposes or to comply with other provisions of the Lease. Such written consent
imap nha uch condtians, including but not Rove 1 tater restoration of Bye Goolalner bo its por conan, os Lessor in Bs sole

iscretion may require. .

{e) Lessee shall not change or supplement any Identification marks on the Containers, including without imitation, letters and numbers,
except as may be otherwise required under this Lease or agreed in writing by Lessor. Such agreement may include such conditions,
Induding but not Iimited to Lessee's later restoration of the Containers to thelr prior condition, as Lessor in Its sole discretion may
reasonably require. Subject to any such agreement, Lessee, at its sole expense, shall keep such marks and the color of the Containers
In good condition.

(f) Lessee shall, at Its sole expense comply with all conventions (induding CSC), laws, regulations or orders of federal, state, foreign and
focal governments and agencies which In any way affect any Contalner or its use, operation or storage or which In any way affect this
Lease, and shall be Hable for all fines, penalties, Fees afid interest thereon for fallure to comply. Lessor shall have no responsibility for
compliance with any such conventions, laws, regulations or orders, Inckuging, without imitation, all such conventions, laws, regulations
or orders as may relate to customs, transportation, handling, safety, labor regulation, repalr and standards.10,

wa

42,

13.

~~

(9) Lessee will not, directly or indirectly, create, incur or permit to exist, any security Interest, lien, charge or other encumbrance against
the Containers. Lessee, at its own cost and expense, will promplly pay, satisfy and otherwise take such action as may be necessary to
keep the Containers free and clear of any such encumbrances. .

RISK OF LOSS AND DAMAGE,

Lessee Is Hable for all loss-and Damage to the Containers subsequent fo delivery and prior to return to Lessor, regardless of when such loss
or damage may be discelvdred. Lessee Is obligated to pay all Rental Charges on lost or damaged Containers untit the Off-hire Date of each
Contalner.

(2) Loss, “if & Contalné fs.lost, stolen of, in'Lessbt# sole Jutloment, démaged beyond economic repait while on lease to Lessee, Lessee

sBhallpay td Lessor'the Replackniest’ Valuer: Such-Gostalnenin’sccortancéwith-the.provistons*at:thed gate. Loss of a Contalner

incudes the Conta being held by a thitd party (Including, but not fiiked to, a governmental entity) after effiration oc termination

of this Lease with #éspect to such Container and Lessee's Inability or unwillingness to retum the Container to Lessor within shxty (60)

days after the terrtination or expiration of the Lease with respect to the Container. Should Lessee return a Contalner to Lessor after

having paid the Rifélacement Value for such Container to Lessor, Lessor will retum such Replacement Value to Lessee, net of any
Rental Charges anthother charges due on such Container from Its Off-hire Date,

(b) Damage, If a Conlgines Is returned to Lessor with Damage, Lessor shall, in its sole discretion, determine whether It is economically
feasible to repair sich Contalner.

(1) if Lessor elects to repair such Container and Lessee or its agent does not authorize the repair of such Container within seven (7)
days from Lesgee’s receipt of the repalr estate, and where Lessee is unable to deffionstrate a justifiable reason for such non:
authorization, ‘at Lessor’s sole option: (1) such Container wall be authorized for repair by Lessor on behalf of Lessee and Lessee
agrees to payéhe cost and expense of such repalr (‘Repair Charge”), subject to the benefits of any OPP cover provided by Lessor
2s described Wi Schedble 2 to this Lease, or (2) such Container will become On-hire again with effect from the Return Date and
the Off-hire Gate will be the date upon which Lessee or Rs agent authorizes the repairs to the same Container or Lessor has

. feceived the Replacement Value payment for the same Container. Lessor shall have the right to repalr such Container or to
require Lesse@'to repair It at any repalr facility of Lessor’s choice.

(8) HF, in Lessorg sole Judgment, sucli Container is beyond economic repair, Lessee shal’ pay to Lessor the lesser of: (1) the
estimated coét.ta repair such Container to awrent FICL standards, or (2) the Replacement Value for such Container in accordance
with the prowsions of the Lease, subject, In elther case, to the benefits of any DPP cover provided by Lessor as described In
Schedule 2 t6,this Lease. Any such unrepatred Container shall remain the property of Lessor.

(c) Replacement. in'fie event of damage, loss or theft of a Contalner, Lessor may elect, but shall not be obliged, to deliver another
Container which it deems of similar type, whereupon this Lease shall apply to such replacement Container.

INTEREST IN LEASE

Notwithstanding any athép provislons herein, including without limitation, the definitions and nomenclature used herein, the Lease shall not
be deemed a sale or anyffiing other than a lease for any purpose. Lessee shail have no right to sublease the Containers or assign its rights
under this Lease, except with the prior written consent of Lessor. In the event of a permitted subletting or assignment, Lessee shal} remain
personally liable for the payment and performance of ail obligations of “Lessee” under this Lease.

INDEMNITY

Lessee hereby agrees to release, protect, defend, indemnify and hold harmless Lessor, its parent, subsidiary and/or affiliate companies, and
thei respective employens, officers, directors and agents ("Indemnitees*) from and agalast any and all claims, lablty, causes of action,
damage, loss of expense (Inchiding without Timitation, expenses In connection with any claim or sutt, such as attorneys" fees, cout costs ai
other expenses), Inckding but not limited to claims arising olt of: (3) any fallure to comply with Lessee's obligations under this Lease, or
attempt by any thied party, whether private or governmental, to impose upon any Indemnitee Habihty for Lessee’s obligations; (6) any claim,
whether private or goverrmental, for personal injury or death, and for lass‘or damage’ to person. property, cargo of vessels arising out of or
Incidental to the selection, possession, leasing, operation, control, use, storage, loading, unloading, moving, maintenance, delivery or return
of any Container; and (c) any forfeiture, selzute or impounding of, or charge or Ren on, any Contalner {each of the foregoing being referred
to collectively as "Clatms"], whether any Indernnitee is negligent, actively, passively of not at all, or any Indemnitée is alleged or proven to
bbe absolutely or strictly Hable, or to have breached any duty or warrenty, excent to the extent such Claims are shown by final judgment to
have been catised by the sole gross negligence at wilful misconduct of an Indemnitee. ‘The Indemniters and Lessee agree that if any court
of competent Jurisaiction determines that the indemnity required herein exceeds In scope or amount that which is permitted by applicable
law, such indemnity shat be construed and enforced to the maximum extent permitted thereby. Each Indemnitee undertakes promptly to
give notice to Lessee of any Claims asserted against of Incurred by it, but fallure to give such notice shall not affect Lesses's obligations
under this Section. Lessee agrees not to settle any Claim affecting an Indemaltee without its consent unless such settlement results in 3
complete release of calms against such Indemoitee without any monetary or other Habltty.

In the event Lessee has not returned aif Containers to Lessor by the explration or termination, as applicable, of this Lease, Lessee will
nonetheless indemnify Lessor, as set forth above, as though the Lease were ki effect until the date Lessee returns all Containers to Lessor.

INSURANCE

At ail times during the Term, Lessee shall at its own expense maintain, or cause its sublessees at thelr expense to maintain, Insurance
covering: :

(a) Broad form comprehensive general liablifty, including property damage, In amounts not less than specified in Schedule 1,

(b)Albtisks physical damage to the Containers in an amount not less than the Replacement Value of the Containers, covering such
Containers while orfland, afloat, in transit or at rest anywhere In the worid, induding Particular Average and General Average.14,

- om

‘

Satisfactory evidence of such coverage shall be furnished promptly to Lessor upon request. All polickes are to be endorsed noting the interest
of the Lessor and/or Its principals as managers or ownets of the Containers and giving Lessor thirty (30) days’ written notice prior to any
modification or cancellation of such coverages, Within thirty (30) days after execution of this Lease and thereafter at intervals of once every
twelve calendar monte geineates Indicating such loss payee and additional Insured endorsements, exéciited by an insurance carrier or
broker acceptable to ;, are to be provided to Lessor or its agents promptly upon request. Lessee shall not use or allow the Containers
t6 be used for any purpose nat permitted or covered by the terms and conditions of such Insurance policies, or do o¢ altow to be done any
act that may lavalidate coverage.

DEFAULT AND REMEDIES
(a) Defaults. ‘The occurrence of any of the folloviing events shall constitute an event of default hereunder (“Event of Defauit*):

(X) . Lessee shall fall to pay any Rental Charge, Repair Charge, Location Charge or other charges, and such failure shalt continue for
ten (10) days‘br more from the date such payment first came due;

(iH) Within ten (16) days after notice from Lessor thereof Lessee shall fall to pay any other sum becoming due Under this Lease, or
Lessee shall fail to cure any other breach of this Lease, or any condition which may jeopardize or adversely affect Lessors rights
in any Contalders;

(i) The levy of arty distress, execution or other jegal process on any Containers;

(iv) The entry of any judgment against Lessee in excess of U.S. $5,000 which remains unsatisfied for seven (7) days, or the failure of
Lessee 06 «1 with the order of any court for seven (7) days;

(The filing of dy petition In any bankruptcy proceeding, any assignment for the benefit of creditors, appolniment of a receiver of
all or any of Lessee's assets, entry Inté any type of liquidation, whether computsory or voluntary, or the initiation of any other
‘dankruptcy or insolvency proceeding by or against Lessee Including, without limitation, any action by Lessee to call a meeting of
ks creditors of! to compound with or negolate for any composition with Its creditors; or

(vi) The seizure ot nationalization of Lessee or any of Lessee’s assets by a government or governmental Instrumentallty.

(0) te occurrence of any Event of Dafault, and at any time thereafter so long as the same shall be continuing, Lessor

Remedies. Upon
‘tay forthwith (butAvithout prejudice to any rights under this Lease), by notice In writing to the Lessee, dedare ths Lease to be in
defauit and may then exerclse any perrnltted remedy at law or equity, Including, without Iknitation, one or mote of the following:

() Sect to accelgtate att Rental Charges (including amounts previously invoked but not yet otherwise due) for the full Term to and
nc the Heturn Dates set forth In the Lease, causing these Rental Charges to become due and payable immediately for all
Containers oF,-Jf, in Lessor’s sole discretion, it shall specify that acceleration shall apply only to certain Containers, then only for
such Containers thereof as may be specified In such notice; and/or

(Q Terminate thisjLease with respect to all, or any, of the Contalners, whereupon this Lease shall, except as otherwise provided in
Section 2, territinate and Lessee shill be bound to return any Container In its possession as soon as possible after termination, in
a state of repair satisfactory to Lessor In Lessor’s absolute discretion, and to pay within the same time ail Rental and other
charges due upider the Lease; and/or

WB) bessor may viilke such legal remedies as may be available to It, including, without limitation, replevin, Injunction or any other
provisional rerfjedy designed to obtain possession of or protect the Containers or any items thereof, Lessee hereby specifically
‘waives any hepring with respect to any such provisional remedy; and/or

(WY) Lessor may relake possession of the Contalners or any items thereof without resort to judictal process and for such purpose may
enter upon ani premises belonging to or In the occupation or control of Lessee. Jn that event, Lessor shall use reasonable efforts
to lease such ainers to others, and Lessee shall be liable for the difference between the Rental Charges due and payable for
such Containe’s under thls Lease and the rental charges collected by Lessor upon the leasing of such Containers to others;
and/or

() If Lessee falls to return a Container within sixty (60) days after termination of this Lease with respect to such Container, the foss
of such Container shall be Irrebuttably presumed and Lesseé shall pay the Replacement Value therefor, plus U.S. $400 per
Container for retocatlorypositioning charges; endjor

(A) Elect, with effect from the date this Lease Is deciared In default by Lessor, to charge Lessee as the Rental Charge the post bulla-
down Rental Charge as defined in the related Schedule'l hereto. If no post bulld-down Rental Charge is shown Tn such Schedule
1, for purposeg of this section 14(b)(vi) the post bufld-down Rental Charge shall be equal to one and one-half times the Rental
Charge specified In such Schedule 1.

(c) Lessee shall indemtify Lessor and Its" prindpats and thelr respectlve agents In respect of any legal cost and other expense (including
Without limitation fees, court costs, and costs and expenses associated with vessel survey and vessel valuation surveys)
incurred by or on behalf of Lessor or Its principals by reason of any Event of Default or the exercise of Lessor's remedies with respect
thereto, including: at costs and expenses incurred in seeking to recover any Container and ali Rental Charges, Repair Charges or any
‘other charges of whatsoever kind due In relation to any Container.

(6) The remedies and pther rights set forth In this Section, elsewhere In this Lease or otherwise available to Lessor, are cumulative and:
not altemative. Suth remedies and sights may be exercised separately or in any combination or sequence, and the use of any remedy
or right Individually’or In any combination or sequence shall be without prejudice to and shall not waive any others, The exerdse of
any such remedy gf right, nctuding, without fimltation, termination, shalt not relieve Lessee of any lability or obtigation under this
Lease Incurred priot to the exercise thereof.15,

16.

W7.

¢

(e) The termination of this Lease with respect to all, or any, of the Containers shal not releve Lessee of its obligation to pay to Lessor an
Excess Return Charge for sucts Containers, as specified in the related Schedule 3 hereto. If no Excess Return Charge is shown In such
Schedule 1, for purposes of this Section 14(e) the Excess Return Charge shall be eqjual to U.S. §400 for each twenty-foot standard dry
freight Container and U.S. $800 for all other Containers.

FORCE MAJEURE

Lessor shalt not be Hable to Lessee or any other person for any failure or delay In the performance of ary obligation hereunder due to events
beyond Lessor’s reasonable control, Including but not Bmited to fire, storm, flood, accidents, labor disputes {including strikes and jockouts),
cit disorder, transportation embargoes or delays, failure of repair faclitles to finish repalrs, acts of God, government regulations oF
Interferences, or any cause whatsoever not within the sole control of Lessor, No obligation of Lessee hereunder shall be suspended for any
Teason herein specified, or for any other cause within or outside of Lessee's control. .

FINANCIAL STATEMENTS

Withini oné hundred twenty (120) days after the close of each fiscal year of Lessee, Lessee shai! debver to Lessor a copy of Lessee’s audited
financial statements in the Engiish tanguage, (cluding, at a minimum, a balance shel, Incofne statement, statement of cash Nows and all
Aotes and statements attached thereto. Lessor agrees to treat all such financial statements received from Lessee as confidential.

MISCELLANEOUS:
(2) This tease Is birding upon the partles and thélr respective helrs, legal representatives, and pennitted successors and assigns.

(©) This Lease, together with all schedules appended hereto now or In the future, contains the entire agreement between the parties and
this Lease may not be amended, altered, modified or added to except by @ writing signed by the parties. Any schedule, or portion
thereof, may be amended, altered, modified or added to by Lessor, provided that Lessee is given prlor written notice thereof, per the
terms on each schecie. .

(c) Lessor may assign ail or any part of its obligations, right, title or Interest in this Lease, Including Rental Charges cue or to become due.
(@ The Sectlon headings In this Lease are for convenience onty and shall not be deemed to alter any provision hereof,

(e) Except as otherwise set forth In this Lezse, all notices required to be given tn writing shall be given by hand delivery, registered mil,
ficst class mall, alr cotrier, or facsimile transmission to the addressée as shown below or as modified from time to time by Lessor of
Lessee by notice glven In the manner provided In this paragraph, Nolice shall be deemed effective as follows: (1) for hand delivery,
the date delivered; (2) for air courler, two business days after sender delivers the notice to the alr courier for delivery to addressee;
(3) for facsimile trafismission, the date the Facsimile was sent to addressee; (4) for registered mall, the date signed for by addressee;
and (5) for regular thal, five days after deposit In the mails if malled and delivered within the same country, and ten days after deposit
{F mailed From ‘one country to another.

{Inthe event that ary of the terms and conalitons of this Lease are not completed by Insertion of the necessary words and/or figures,
the parties agree to!adopt Lessor's standard terms and conditions for comparable Containers prevailing on the date on which Lessee
executes the Lease Including, without limitation, Rental Charges, penalties for Iinproper return and logs and insurance valves.

(9) Where there are t¥ or more persons who are parties to the Lease as “Lessee,” their liabilities under this Lease shalt be Joint and
several.

(h) The provisions of this Lease are severable and any provisions found upon judicial Interpretation or construction to be prohibited by faw
shall be ineffective to the extent of such Prohibition without invalidating the remaining provisions hereof.

(i) No waiver of any remedy or other right under this Lease shall operate as a walver of another remedy or right, nor shal any single or
partlal exercise of any semedy or right precludé any other or further exercise thereof or of any other remedy or right.

G) References In this Lease to "Lessee" shall be deemed to refer also to Lessee's employees and to Lessee’s agents, Including without
fianttation, shipping companies, depots and truckers under hire to it. Any action or agreement