Common use of Qualifications for Membership Clause in Contracts

Qualifications for Membership. ‌ 4.1 An independent firm or entity located in the Regional Member’s territory may apply for membership in the Regional Member as an IMF (as defined in Article I, section 1). The Executive Management Team, use criteria approved by the Board of Directors, to determine whether the firm or entity is qualified for membership. Recruitment focuses on firms that provide core audit, tax, and accounting services. However, a firm or entity which complements IMFs core services may be qualified for membership, for example, corporate finance practices, insolvency practices, tax specialists or technology consultants. A firm or entity which demonstrates leading practices in emerging services may also meet the membership criteria if their admission will support IMFs development of such services. 4.1.1 Membership in the Regional Member is available to firms qualified under the requirements above, who also have: a) passed the entrance criteria which have been approved by the Board of Directors; b) agreed that they will participate in Regional Member and PrimeGlobal events, electronic communications and benchmarking/annual survey; c) agreed that they are available to accept inbound referral work; d) met the demographic requirements, to include: i) size, ii) number of partners and staff, iii) market position, iv) geographic location, and v) niche competency; e) paid the application and initiation fees; f) completed the application forms; g) agreed to be bound by and adhere to the Certificate of Incorporation, Bylaws and Standards of PrimeGlobal, as adopted (and amended from time to time) by PrimeGlobal and to the Articles of Incorporation, Articles of Association, and/or Bylaws of the Regional Member, as adopted (and amended from time to time) by the Regional Member, and shall comply with the requirements for continued membership set forth in these Bylaws; h) acknowledged that (i) PrimeGlobal may, acting in its sole and unfettered discretion amend or alter the qualifications for membership in PrimeGlobal and thus in the Regional Member, and (ii) Regional Member’s continuing rights to use the Marks as set forth in the License Agreement is conditioned upon Regional Member’s acceptance of any such changes or amendments; i) agreed to the terms and conditions of the Sublicense Agreement; and j) confirmed that that they are not a member of another association or network of accounting or accounting and advisory firms unless the Board of Directors deems, in its sole discretion, such membership is permitted. 4.2 The PrimeGlobal Membership Standards, contained within Annex 1, detail further minimum requirements for admission and maintenance as an IMF of PrimeGlobal. These Standards exist alongside and are complementary to these Bylaws, and other Standards and policies adopted by PrimeGlobal. The Board of Directors may approve revisions to the Membership Standards at its sole discretion. 4.3 The PrimeGlobal Communication Standards, contained within Annex 2, detail requirements which each IMF shall commit to follow when using the PrimeGlobal name and logo and outline how to describe the IMF’s relationship with PrimeGlobal. The Board of Directors may approve revisions to the Communication Standards at its sole discretion.

Qualifications for Membership. ‌ 4.1 An Any independent public accounting firm or entity located in the Regional Member’s territory may meeting the following criteria shall be qualified to apply for membership in the Regional Member as an IMF (as defined in Article I, section 1). ): 4.1.1 The Executive Management Teammajority of active proprietors, use criteria approved by the Board partners, members or shareholders of Directors, to determine whether the each such firm or entity shall be Certified Public Accountants, Chartered Accountants or hold an equivalent professional qualification in the jurisdiction in which they practice. Membership in the Regional Member is qualified for membership. Recruitment focuses on limited to independent accounting firms that provide with core auditskills in the areas of accounting, taxauditing and/or taxation, and those independent accounting services. However, a firm firms shall regularly perform engagements in one or entity which complements IMFs more of the core services may be qualified for membership, for example, corporate finance practices, insolvency practices, tax specialists or technology consultants. A firm or entity which demonstrates leading practices in emerging services may also meet the membership criteria if their admission will support IMFs development of such servicesskill areas. 4.1.1 4.1.2 Membership in the Regional Member is available to firms qualified under the requirements above, who also have: a) passed the entrance criteria which have been approved by the Board of Directors; b) agreed that they will participate in Regional Member and PrimeGlobal events, electronic communications and benchmarking/annual survey; c) agreed that they are available to accept inbound referral work; d) met the demographic requirements, to include: i) size, ii) number of partners and staff, iii) market position, iv) geographic location, and v) niche competency; e) paid the application and initiation fees; f) completed the application forms; g) agreed to be bound by and adhere to the Certificate of Incorporation, Bylaws and Standards of PrimeGlobal, as adopted (and amended from time to time) by PrimeGlobal and to the Articles of Incorporation, Articles of Association, and/or Bylaws of the Regional Member, as adopted (and amended from time to time) by the Regional Member, and shall comply with the requirements for continued membership set forth in these Bylaws; h) acknowledged that (i) PrimeGlobal may, acting in its sole and unfettered discretion amend or alter the qualifications for membership in PrimeGlobal and thus in the Regional Member, and (ii) Regional Member’s continuing rights to use the Marks as set forth in the License Agreement is conditioned upon Regional Member’s acceptance of any such changes or amendments; i) agreed to the terms and conditions of the Sublicense Agreement; and j) confirmed that that they are not a member of another association or network of accounting or accounting and advisory firms unless the Board of Directors deems, in its sole discretion, such membership is permitted. 4.2 The PrimeGlobal Membership Standards, contained within Annex 1, detail further minimum requirements for admission and maintenance as an IMF of PrimeGlobal. These Standards exist alongside and are complementary to these Bylaws, and other Standards and policies adopted by PrimeGlobal. The Board of Directors may approve revisions to the Membership Standards at its sole discretion. 4.3 The PrimeGlobal Communication Standards, contained within Annex 2, detail requirements which each IMF shall commit to follow when using the PrimeGlobal name and logo and outline how to describe the IMF’s relationship with PrimeGlobal. The Board of Directors may approve revisions to the Communication Standards at its sole discretion.