Schedule, The Bayer Preussag Agreement 1973 (Ratification) Act, 1974

CONTENTS 6. RENTS AND TAXES (a) Mining and Surface Rent (b) Royalty (c) Income Tax (d) Surtax (e) Limitations of Amount of Tax (f) Development Act (g) Royalty (h) Dividends (i) Non-Discrimination Clause (j) Shipment 9. GENERAL RIGHTS OF THE COMPANIES (a) Rights incident to Dredging Operations (b) Occupation of Surface Land (c) Accessory Works and Installation (d) Customs Duties (e) Export of Titanium Minerals (f) Entry of Personnel (g) Housing of Labourers (h) Force Majeure (i) Government Protection and Assistance (j) Repatriation of Profits (k) Importation of Machinery 10. GENERAL PROVISIONS (a) Revocation by the Government (b) Limitation on Minerals Act Application (c) Interpretation and Arbitration (d) Assignment (e) Surveys (f) Companies to use best endeavours (g) Notices (h) Prior Consent or Approval (i) Ratification A 142 No. 21 Bayer Preussag Agreement 1973 (Ratification) 1974 THIS AGREEMENT IS MADE 29th day of January, 1973 between the Honourable Sheku Bockari Kawusu-Konte, Esquire, Minister of Mines acting for and on behalf of the Government of the Republic of Sierra Leone (hereinafter referred to as " the Government ") of the one part and Bayer Aktiengesellschaft, a company incorporated and existing under the laws of the Federal Republic of Germany whose registered Office is at Leverkusen, Germany (hereinafter referred to as " Bayer ") and Preussag Aktiengesellscaft a company incorporated and existing under the laws of the Federal Republic of Germany whose registered office is at Hannover, Germany, Leibnizufer 9 (hereinafter referred to as " PREUSSAG ") of the other part (" Bayer " and " PREUSSAG" being hereinafter called " the Companies "). WHEREAS: (1) It is desirable to develop efficiently enterprises in Sierra Leone which will utilize its natural resources. (2) Acting under Special Exclusive Prospecting Licence No. 2070 granted by the Government the Companies have expended substantial sums of money in an effort to determine whether there are in Sierra Leone deposits of titanium-bearing minerals of such quality and in such quantity as would justify commercial mining thereof.