12. Settlement of Disputes

12.1. In case of arising disputes between The Licensor and The Licensee on provisions stipulated by the present Agreement, the Parties shall take all measures for settling them through

negotiations between the Parties.

12.2. In case of impossibility of settling the said disputes by negotiations, they shall be

resolved by Arbitration of the defendant.

13. Duration of the Agreement

13.1. The present Agreement is concluded for 5 (five) years and enters into force from the date of its registration in accordance with the established order at Patent Service of Russia.

13.2. Each of the Parties shall have the right to cancel the present Agreement ahead of time by way of directing a written notification thereof, if the other Party fails to fulfill any of the provisions of the present Agreement. However, the Party which has failed to fulfill its commitment, shall be granted 1 (one) month, to rectify the breach of obligations.

13.3. If the present Agreement is invalidated ahead of time for non-fulfillment by The Licensee his obligations, he shall be deprived of the right to use the inventions under Clause 2.1 in any form and shall be obliged to return to «The Licensor» all technical documentation.

13.4. After termination of the present Agreement The Licensee shall have the right to use The Licensor's inventions under Clause 2.1. in the scope provided by the present Agreement, fire of indemnity.

The commitment to keep confidentiality shall be retained.

14. Legal addresses of parties and signatures of responsible persons

Licensor:

Public Limited Company «Union»

Address:

26 Montajnaj Str., Moscow 107497, Russian Federation

INN/ KPP: 4567891234/675439753

Telephone/ Fax : [phone]

Banking details:

Account No. 400499654106

Licensee:

ABC Inc

Address:

1 Alex Manoogian Str., Toronto 0025, Canada

INN/ KPP: 6543218976/334521986

Telephone/ Fax : [phone]

Specification 1

License Agreement of

«09 January 2012»