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Gold Bullion POP before POF. 12.5-kilo bars of GLD Standard 999.5% or better Internationally accepted hallmarks by Johnson Matthey EUROPE CIF at Buyer’s designed place min 100 MT with rolls and extensions to 5000 MT 1st TRANCHE: 1MT SUBSEQUENT TRANCHES: To be decided and agreed by Buyer and Seller. DURATION: 1 Year and 1 day The agreed purchase price is the quoted price in USD or EUR as set forth in the latest valid Second Fixing Rate (PM) issued by the London Bullion Market Association (LBMA) on the Day-of-Transaction. In the event that the LBMA is not operating on that scheduled day, the price calculation used shall be based on second LBMA fixing of the next change to last Market opening day and per tranche. AGE: Less than 5 years DISCOUNT: 12% Gross, 9% net to Buyer Seller’s and Buyer’s side 1.5% & 1.5%.