Carpaneto Piacentino, 01th September 2014

SUBJECT: LETTER OF AGREEMENT

TO WHOM IT MAY CONCERN

We, DOUGLAS CHERO S.p.A., having the Head Office/offices/factory at Localita Predaglie-29013 Carpaneto Piacentino -Italy

Hereby appoint

Messrs.FARAKARAN TAJHIZ KALA (FTK Co)Tehran -Iran

as official Exclusive Agent of DOUGLAS CHERO for all different types of Strainers, Steam Traps,and Forged Valves.

Furthermore, FTK is authorized to act on our behalf to submit offers, to Regotiate and to concludecontracts.

This Agreement is valid for 2(two) years and may to terminated by both parties in any moment.

Yours Faithfully.

BaC ·ef L.."''';;''ULI

DOUGLAS CHERO S.p.A.

Transm. DLG0283/ 13-AEC - Sheet no. 1/1

SWE LEGALl!JHEADOFFICE·STABILIMENTOIFACTORYUFnCIAMMINISTRATIVIECOMMERClALl/ADMtNlSTRATtVEANDSALESOFFlCELocalila P,edagie· 29013 Carpanelo P.no (PC) -ITALY - C.F.P.IVA. R.L 09358430156 - R.EA PC 158508 - Cap. Soc.:€. 1.033.000.00Tel. I Phone: 05231854011 - Fax: 05231850389 - E-MAIL: webmaster@dQUQlss-chefO comSodeUI soggetta alia direzione ed ill coordinarnerto del SOdo Unico Oot.GIas Hc*:ting&r.t - Company subject to the control ofiu immediate parent lDdataking Douglas Holding u.l

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OOC. GQOC 003V01 ITEN REV. 11