DECLARATION OF TRUST

THIS DEED is made this the BY NAME OF TRUSTEE a company incorporated under the laws of XXX as Company : XXX and having its registered office at XXXX ("the Trustee"); IN FAVOUR OF XXX ("the Beneficiary"). RECITAL: The Trustee being the registered owner of (NUMBER OF SHARES) fully paid ordinary shares (THE SHARES) in the Company called XXX, a company incorporated under the laws of XXX and having its registered office at XXXX. HEREBY DECLARES:
1. THE SHARES are held by the Trustee for and on behalf of the Beneficiary. 2. THE SHARES will not be encumbered transferred assigned or dealt with in any way

day of

20XX

by the Trustee without the consent in writing of the Beneficiary being first held and obtained.
3. The Trustee will account to the Beneficiary in respect of all income earned derived or

received from THE SHARES and all other benefits in respect thereof and the proceeds of any disposal thereof in such manner as the Beneficiary may from time to time direct.
4. The Trustee acknowledges that the Beneficiary may from time to time appoint a new or

additional trustee and remove any trustees so appointed, and call for a transfer of THE SHARES to itself or as it may direct.

Signed Sealed and Delivered by The Trustee

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______________________ Witness