Shareholders' current account between Mr Heinz Jürgen Scholz, Horgen (hereafter referred to as HJS) and DWM Petroleum AG, Baar (hereafter referred to as DWM)
Shareholders'
current account
between
▇▇
▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇
(hereafter
referred to as HJS)
and
DWM
Petroleum AG, Baar
(hereafter
referred to as DWM)
I.
PREAMBLE
A
current account-based loan exists between HJS and DWM, with the possibility
of
an alternating obligation.
Il.
PAYING
OUT/PAYING
lN
Withdrawals
and deposits by HJS are debited from or credited to the current account on
a
continual basis. Further claims by HJS or DWM against the other party to the
contract are also debited tram or credited to the current account on a continual
basis.
III.
LIMITS
CHF
1,000,000 on both sides.
IV.
INTEREST / REPAYMENT
OBLIGATION
1.
Interest
|
|
a.
The current account interest is laid down once a year, each year,
taking
into account the underlying tax conditions laid down by the Swiss
tax
authorities.
|
2.
Repayment obligation
a.
For the time being, there is no specified repayment obligation.
V.
SURETIES
1.
None
VI.
TERM OF THE CONTRACT
1.
None
VII.
APPLICABLE LAW AND COURT OF JURISDICTION
The
legal relationship is subject to Swiss law. The court of jurisdiction
and
place
of fulfillment of the contract is that of the head office of DWM.
Date,
place: 05/09/2005, ▇▇▇▇▇▇
▇▇▇▇▇
▇▇▇▇▇▇ ScholzDWM Petroleum
AG
/s/
Heinz ▇▇▇▇▇▇
▇▇▇▇▇▇/s/
DWM Petroleum AG