MEMORANDUMOFUNDERSTANDING

ONCOOPERATIONIN****PPPPROJECT

ThisMemorandumofUnderstanding(the“MOU”)ismadeinBeijing,tPeople’sRepublicofChina,onthisdayof……June2020among:

(1) …………CompanyLimited(hereinafterreferredtoas“………”,whichshallmeanandincludeitssuccessors,affiliatesandpermittedassignees),acompanydulyorganizedandexistingunderthelawsofthePeople’sRepublicofChina,withitsprincipalofficeat…………………..Beijing,People’sRepublicofChina.

(2) ………….CompanyLimited(hereinafterreferredtoas“……….”,whichshallmeanandincludeitssuccessors,affiliatesandpermittedassignees),acompanydulyorganizedandexistingunderthelawsofthePeople’sRepublicofChina,withitsprincipalofficeat…………………..Beijing,People’sRepublicofChina.

(3) ………….CompanyLimited(hereinafterreferredtoas“……….”,whichshallmeanandincludeitssuccessors,affiliatesandpermittedassignees),acompanydulyorganizedandexistingunderthelawsofthePeople’sRepublicofChina,withitsprincipalofficeat…………………..Beijing,People’sRepublicofChina.

Hereinafter,eachofthepartiestothisMOUshallbeindividuallyreferredtoasa"Party"andcollectivelyreferredtoasthe“Parties”.

WHEREAS:

(A) TheDepartmentofHighwaysoftheMinistryofConstructionof****(the“Employer”)hasissuedaninvitationtolocaland/orinternationalfirmstosubmittheExpressionofInterest(the“EOI”)forthe****PPPProject(the“Project”)on18thJan2020.

(B) ThePartieshavethefinancialstrength,technicalknow-howandconsiderableexperiencesinthefieldofinfrastructuredevelopment.

(c) ThePartiesenterintothisMOUinordertoformaConsortiumandsubmittheEOIfortheProjecttotheEmployer.

NOW,THEREFORE,ITISHEREBYAGREEDASFOLLOWS:

1. OBJECTIVES

(a) ThePartiesintendtoworktogethertoformaConsortiumandsubmittheEOItotheEmployerinordertoprequalifytheProject.

(b) AllPartiesarewellawareandunderstandthatthisMOUisexecutedonlyaimingfortheEOIsubmissionfortheProject.

2. SCOPEOFWORK

(a) ThePartiesagreetoundertaketheprocessinordertoformaConsortiumlegallyincludingtheexecutionoftheConsortiumFormationAgreement.

(b) TheConsortiumshallincludeallthePartiestothisMOU.IncaseofnewPartiesadmission,thePartiesmayadmitthemintotheConsortiumbyunanimousdecisioninaccordancewiththetermsandconditionsoftheConsortiumFormationAgreement.

(c) ThePartiesshallcooperateinordertojointlypreparetheEOIsubmissionfortheProjecttogetherwiththerequireddocuments.

3. STRUCTUREOFCOOPERATION

AftertheConsortiumhavebeenpre-qualifiedfortheProject,thedetailsofthestructureofcooperationincludingfinancing,revenuesharing,costsandexpenses,feasibilitystudies,acquisitionofrelevantlicenses/approvals/permits,provisionofprofessionalandtechnicalexpertiseaswellastheknowledgeandknow-howfortheProjectwilldecidedbythePartiesthroughfurthernegotiationsanddiscussionsingoodfaith.

4. Confidentiality

ThisMOUandallinformationdisclosedorfurnishedbyonePartytotheotherPartiesinconnectionwiththeMOUshallbedeemedconfidentialduringtheperiodofvalidityandtwo(2)yearsaftertheterminationofthisMOU.ThisinformationshallnotbedisclosedorfurnishedtoanythirdpartyexceptfortheappropriatepurposeofdevelopmentandimplementationoftheProject.ThereceivingPartiesshallprotecttheinformationwiththesameconfidentialityasappliestotheParties.

5. Assignment

NeitherPartyshallassignortransferthebenefitofthisMOUand/oritsrightsandobligationsthereundertoanythirdpartywithoutthepriorwrittenconsentsoftheotherParties.

6. Term

ThisMOUshallenterintoforceonthedateofsignatureandshallbevalidforaperiodofone(1)year.TheeffectivetermofthisMOUshallbeextendedbymutualagreementofthePartiesinwritingatleastonemonthbeforethedateoftermination.ThisMOUmaybeearlyterminateduponmutualconsentoftheParties.

7. ModificationsandSeparateAgreements

(a) ThereshallbenomodificationofthisMOUexceptbywrittenconsentoftheParties.

(b) ThePartiesagreetoenterintotheConsortiumFormationAgreementandanyotheragreementsinrelationtotheProjectasandwhennecessary.Theterms,conditions,rightsandobligationswouldbestipulatedaccordinglyinthoseagreements.

8. WITHDRAWALOFAPARTY

(a) EachPartyshallhavetherighttowithdrawitsparticipationfromthisMOUandconsequentlyfromtheConsortium(the“WithdrawingParty”)withoutanyliability,exceptforaccruedliabilitiesatthetimeofwithdrawal.

(b) TheWithdrawingPartyshallserveawrittennoticeofwithdrawaltotheotherParties.

9. Others

(a) ThisMOUdefinesandspecifiestherelationshipamongthePartiesandsupersedesallpriorwrittenororalagreements.

(b) AnydisputesthatariseduringtheimplementationofthisMOUshallbesettledthroughamicableconsultationsamongtheParties.

(c) ThepartnershipwillbesteeredbyaworkingteamconsistingofseniorexecutivesfromallParties.ThisworkingteamwillinteractcloselyandliaisewiththeProject.

(d) ThePartiesagreetoshareallcostsandexpensesequallyinconnectionwiththepreparationandsubmissiontheEOItotheEmployer.

(e) ThisMOUshallbegovernedbyandconstruedinaccordancewiththelawsofMyanmar.

ThisMOUisconstruedandsignedbytherepresentativesofallPartiesingood