Common use of CONSIDERATION Clause in Contracts

CONSIDERATION. IRVT shall pay to IZSVe for all Services rendered pursuant to this Agreement the sum of € 54,90 for each testing performed, in compliance with the costs that can be found reported in the IZSVe price list (▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇). Invoicing can be set on a 3-month basis, as this is a possible option in case of cumulative billing and guarantees a simpler process for paying the due amount (see form in attachment). Invoices may be sent by regular mail or e-mail. The payment shall be made by bank transfer using the following bank details: Beneficiary bank – Intesa San Paolo Bank account – IBAN ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ BIC or SWIFT code – ▇▇▇▇▇▇▇▇. IRVT undertakes to make all payments due under this Agreement within 60 days after the receipt of invoice by IZSVe. All payments by IRVT shall constitute admission by the Customer as to the performance by IZSVe of its obligations under this Agreement. In case the of payment’s delay exceeds one hundred and eighty (180) days, IZSVe may terminate this Agreement pursuant to art.7 of this Agreement, without prejudice to its right to claim for further damages, if any. The present Agreement doesn’t involve travel and accommodation costs at the expense of IZSVe for the performance of the Services; but if there are any, IZSVe shall be reimbursed by the Customer upon presentation of the corresponding documentation. The Parties agree that this Agreement is subject to VAT according to Italian law (D.P.R. n. 633/1972 and its amendments) that is conform to EU single market rules. The registration fee is due just in the event of judicial or administrative use, as set forth in Italian law (D.P.R. n. 131/1986) and costs and expenses will be borne by the requesting Party. The Parties will contribute in equal measure to the other tax duties related to this agreement, stamp duty included.

CONSIDERATION. IRVT The Company shall pay to IZSVe for all Services rendered pursuant to this Agreement the a lump sum of € 54,90 for each testing performedEuro 54.000,00 (fifty-four thousand) (taxes and pension fund included but VAT excluded) against presentation of regular invoice, in compliance with according to the costs that can be found reported in following terms: • a first installment equal to 50% of the IZSVe price list Consideration (▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇). Invoicing can be set on i.e. Euro 27.000,00 taxes and pension fund included but VAT excluded) at the execution of this Agreement; • a 3-month basis, as final balance equal to 50% of the Consideration (i.e. Euro 27.000,00 taxes and pension fund included but VAT excluded) upon the termination of this is a possible option in case of cumulative billing and guarantees a simpler process for paying the due amount (see form in attachment)Agreement. Invoices may be sent by regular mail or e-mail. The payment shall be made by bank transfer using the following bank details: Beneficiary bank – Intesa San Paolo Bank account – IBAN ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ BIC or SWIFT code – ▇▇▇▇▇▇▇▇. IRVT The Company undertakes to make all payments due under this Agreement within 60 30 days after the receipt of invoice by IZSVe. All payments by IRVT shall constitute admission by the Customer as to the performance by IZSVe of its obligations under this Agreement. In case the of payment’s delay exceeds one hundred and eighty (180) days, IZSVe may terminate this Agreement pursuant to art.7 of this Agreement, without prejudice to its right to claim for further damages, if any. The present Agreement doesn’t does not involve travel and accommodation costs at the expense of IZSVe for the performance of the Services; but if there are any, IZSVe shall be reimbursed by the Customer Company upon presentation of the corresponding documentation. The Parties agree that this Agreement is subject to VAT according to Italian law (D.P.R. n. 633/1972 and its amendments) that is conform in accordance to EU single market rules. The registration fee is due just in the event of judicial or administrative use, as set forth in Italian law (D.P.R. n. 131/1986) and costs and expenses will be borne by the requesting Party. The Parties will contribute in equal measure to the other tax duties related to this agreement, stamp duty included.