CONNERY

CONNERY PISSARRO SEYDOUX Sr. Sak Agreement To: ?ell= Europe, Ltd Atilt Mr. Guy Deana 5 Hanover Square London NWIS HE United Kingdom Genen, November 13, 2014 Re: Sale of the following property: Pablo Piano (1881-1973) Burn dr feat Ption;r7Wrizn) or Hasa Masit..73frist Original Plaster - 78 x 46 x 48 cm Realized in 1931 in Boisgdoup Prawns cc The artist audits Privat Collecion. aNlicsflphr W. Spm, Lene+tins le Par. Sa3t692.rt, 1971, p. 304, a• 131 <biome cast imsteated, p. 1159. 8.4163i6oec Losdoe4 Taw Gatry,28~.ta4ter/PdAte, (Unary 16 -hay 9199t•.. p.269, n• 78 ~zed, p.117). (the '''Plopeety") Sold Ards with the excepdoo oft:waxen to Peahen: Europe, Ltd (the "Buyer" that the Mier (Country Pissarro Seydour SA, Roe du Giant-Dufour 22 - CH-12/4 Geneve, the "Seiler" has suthozity to sell the Work on behalf of the own= who has good, clean and rrorketable title to the Property which such men= shall expire upon payment in full by the purchaser bactuner. The Sac fad= warrants anthencicity which such want shell =pi= upon ddkeery of the Property to Pet= Europe, Ltd. Furtherance, Buyer am only cancel the sak of the Property, and only - to the payment owing hereunder, in the eve= the owner's rim:ship and/or fide to the Property is duller:ma in a born fide claim. It is understood that no tide shell pan to the Buyer, and Buy= shall have no tight whatsoever on the Property, until it km made MI payment in good, clear funds. Ass compulsory and decLeive condition of the sale of the Property, Buy« agree Lod confirms not to teproducc the Property and not to reproduce any bronze cast of the Property (Øling my other modium/cmase i4. Ilria prohibition to proceed with any reproduction of the Property shill be attached to the Property. Buyer bratty mdertaket the obligation to include this prohibition in a =whim duly signed by any potential purchaser, any purchaser or any new owner of the Property, whether the Propw..y is (anefred %reconsideration or fire of nbscst. Fseserratze, Buyer shall =pike as a condition of sale or trectif= of Property that say subsequent bolder of the Property shag make the same commitment and sign a provision in at to make sure that Si. obligation shall apply without any dale Ilmiatioa. Price, CXChIlin of any applicable taxes, VAT and use fees EVROS 33 000 000 (euro! thirty-eight =Mao) payable as follow - Rums 1 900 MO before December 1, 2014; Lae d• Gbael•Didaas 22 -CH-1I04 GENEVA EFTA01090694 CONNERY PISSARRO SEYDOUX SA - (u) Euros 4 100 000 before January IS, 2015 . • (U) Euros 32 000 000 before April 20, 2015. C- Please remit payment according to the following bank reference number FUR burnatreer • Beneficiary : Bank: Connelly Pissarro Seydoux SA BANQUE PR1VEE EDMOND DE ROTHSCHILD S.A. Rue dc Hesse 18, CH•1204 Geneve In the event that the Buyer has failed to pay the amount owed within thirty (30) days after any of the above- mentioned date, the Seller shall be entitled to cancel the sale and retain any of the amounts already received from the Buyer. sale will take place in the Geneva Freeport ("under customs") and the address of delivery will be stared as follows . Pelham Europe Ltd - c/o Mabel Transpon AG, Freeport "under customs", Gaswerkstrasse 12, CH — 6952 Schlieten). The Buyer will insure the Property from the date of signature of this Agreement and will provide the Seller with a ceni6eate of insurance. The Buyer shall be solely responsible for all soles or use rues on this purchase and will reimburse the shipping costs to the Seller (for the shipping from the Geneva Freeport to the address of delivery). The parties hereby agrees that this transaction, including the face that the Property wit be sold, the sale price, and the identity of the parties, is strictly confidential and shall not be disclosed to any party other than the attorneys and accountants of the panics who must agree to keep this transaction, and the details surrounding such, strictly confidential. This agreement is to be governed by, and construed in accordance with Swiss Law. In the event of any dispute hereunder, the panics hereby consent to the exclusive jurisdiction of the courts of Geneva (the Seller's business address in Switzerland). Please sign both copies of this agreement to confirm your agreement with its Tenn& • ACCEPTED AND AGREED: 2Zala) Connery Piss* Duly represen er Sey us Nur Jul*roCal Ourour 32 • Cl1.13u C:11.81:V.1 ‘1.1 {49 43 EFTA01090695