ARBITRATION CLAUSE 1

(version for one arbitrator and with the possibility of deciding based on the principles of justice without a justification of the arbitration award)

All the disputes resulting from this agreement or in conjunction with it, will be settled excluding the jurisdiction of the general courts with the definite force in the arbitration procedure before one arbitrator registered in the list of arbitrators of the Arbitration Court of the Czech Republic with the seat in Prague, Id. No.: 26675048, and appointed in accordance with the Rules of Procedure and other Rules of this Arbitration Court. The parties hereby authorize the arbitrators to settle the dispute based on the principles of justice. The parties agreed, that no reasoning for the arbitration award is necessary. The venue of the arbitration procedure will be Prague. The compensation for the costs of the arbitration procedure (including the expenses of the contractual parties) will be awarded by the arbitrator based on the principle of a success in the dispute. The amount of the legal representation costs will be determined likewise in accordance with Regulation No. 484/2000 Sb., as amended.