MEMORANDUM OF UNDERSTANDING

Between
HARRIS ARNOLD CARR

Nationality: American
Passport N°: 531376702
Hereinafter referred to as the “buyer”

And
TERIITUA PATRICE MEO

ADRESSE : PUNAAUIA PK12 CÔTÉ MONTAGNE RUE SCHOLERMAN 2

RÉSIDENCE RAUMANU2

Mailbox : 1468 PUNAVAI PLAINE

Country : POLYNÉSIE FRANÇAISE

Nationality : française
N° passeport : 20CE93230
Tel: +689 89 74 7464

The following has been agreed and adopted by the parties

 Entered on this day 2021 and Monday the 4th of the month ofOctoberbetween the undersigned;
HARRIS ARNOLD CARR hereinafter referred to as “The Buyer” of American nationality and
residing in Miami Florida USA on the one hand.
AND
TERIITUAPATRICEMEO hereinafter referred to as “The Seller” of French nationality and
residing inPolynésie françaiseon the other hand.
The following has been agreed upon by both parties:
Both parties affirm being invested with full power to assert their right. On the one hand the
buyer establishes this contract which is witness thereof of his full engagement to purchase the
collection of which both parties have good knowledge and placed in annex. On the other hand,
the seller affirms that he has full rights to dispose of the collection without the consent of any
third party and thus proclaims his full status as sole owner and legal proprietor of the said
collection.

PARTY OBLIGATIONS

ARTICLE 1. Nature and Convention

The two parties enter upon signature into a purchasing relation following the modalities below
which will be legal, binding and irrevocable.
ARTICLE 2. Object
The present object of a binding protocol and which is witness thereof of the full engagement of
both parties to act according.TERIITUAPATRICEMEO proprietor of a fine African art
collection consistingof6 pieces (wooden ancient statues of Cameroonian origin), asserts that he is
engaging to sell all pieces to HARRIS ARNOLRD CARR who asserts his full engagement to
purchase all 6 pieces equally.
ARTICLE 3.Purchasing Price
It is agreed by both parties that the transaction will be finalized on payments and successful
receipt of the sum of 27. 000 000 € (TWENTY SEVEN MILLION EUROS) by the buyer to the
seller.
ARTICLE 4.Modalities Relative to Payments and Closure of Transaction
The buyer will give a 25% deposit on the seller's account as soon as he receives the legal
documents of the objects from the seller.
The balance of the 75% will be paid by the buyer on site at the seller domicile in physical
exchange of the collection.

ARTICLE 4. Transport and Other

i) The displacement of the buyer is made possible by the fact that the seller has assured
him that on the scheduled date for the final transaction that is the date for payments
and eventual collecting of the fine African art collection, the seller has assured the
buyer that all 6 pieces are in french and arranged in one place to facilitate the
transaction.
ii) Once the collection has been physically confirmed and payments received by the
seller, the seller agrees to transfer exclusive right to the buyer and thus the buyer will
not be object of any other claims whatsoever after full payments.
iii) The buyer however has organized 3 annual exhibitions for the collection and will
entitle the seller to 5% annual percentage benefits in addition.
iv) Once payments have been done, the transport to the USA, insurance and care of the 5
pieces will be the responsibility of the buyer.

ARTICLE 5. Deadline
The current contract takes effect from the date of signature of both parties. The transaction will
have to be executed in at most 15days from the date of signature, after which a fresh contract
with commercial and other terms will have to be concluded.

SELLER. BUYER
TERIITUAPATRICEMEO HARRIS ARNOLD CARR