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TRNCoins Creation Conditions: Explanatory Note & Governance Terms

Principles
By transferring Ether (ETH), other accepted ERC20 tokens, or cryptocurrency to the Blockchain Address creating TRNCoins (“TRN”), the User understands and accepts that the User makes a contribution into a Smart Contract System for the development of the TRNCoins Project, as described in the TRNCoins Project Crowdfunding Whitepaper (“TRNCoins Project” / “the Whitepaper”). For the Whitepaper and/or further information on the TRNCoins Project, visit: www.TRNCoins.com.The information contained in the Whitepaper and on the website are of descriptive nature only, are not binding and do – unless explicitly referred to herein – not form part of the Terms as set forth under para. 4 below.

The User understands and accepts that while the individuals and entities, including TRNCoins Technology GmbH (under formation, hereinafter “TRNCoins Technology”), assigned to this task will make reasonable efforts to develop and complete the TRNCoins Project, it is possible that such development may fail and User’s TRN become useless and/or valueless due to technical, commercial, regulatory or any other reasons (see also Chapter 5 regarding Risks).

The User is also aware of the risk that even if all or parts of the TRNCoins Project are successfully developed and released in full or in parts, due to a lack of public interest, the TRNCoins Project could be fully or partially abandoned, remain commercially unsuccessful or shut down for lack of interest, regulatory or other reasons. The User therefore understands and accepts that the transfer of ETH or other ERC20 tokens to the Smart Contract System and the creation of TRN by the Smart Contract System carry significant financial, regulatory and/or reputational risks (including the complete loss of value of created TRN if any, and attributed features of the TRNCoins Project).

The User furthermore understands and accepts that – as the creation of the TRN as well as the assignment of the execution of the TRNCoins Project are smart contract based – the terms and conditions applicable thereon are set forth in the Smart Contract System Code, consisting of multiple interconnected software codes, existing on the Ethereum blockchain at as set forth on the website: www.TRNCoins.com. To the extent the terms contained herein or in any other document or communication contradict to the ones set forth in the Smart Contract System, the terms of the Smart Contract System prevail. Furthermore, neither this document nor any other document or communication may modify or add any additional obligations to TRNCoins Technology or publisher of these terms or developer of the Smart Contract System and/or any other person, entity and/or affiliates involved with the deployment of the Smart Contract System and the setting up of the TRNCoins Project beyond those set forth in the Smart Contract System.

By transferring ETH or other ERC20 tokens to the Smart Contract System, the User

expressly agrees to all of the terms and conditions set forth in Smart Contract System Code existing on the Ethereum blockchain (at the addresses set forth under para 4) and in this document (together the “Terms”). The User further confirms to have carefully reviewed the Smart Contract System Code, its functions and the terms and conditions set forth in this document and to fully understand the risks and costs of creating TRN and contributing into a Smart Contract System for the development of the TRNCoins Project.

This document does not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an initial public offering or a share/equity offering and does not pertain in any way to an offering of securities in any jurisdiction. It is a description of the functionality of a Smart Contract System.

By transferring ETH or other ERC20 tokens to the Smart Contract System and/or receiving TRN, no form of partnership, joint venture or any similar relationship between the Users and TRNCoins Technology and/or other individuals or entities involved with the deployment of the Smart Contract System and the setting up of the TRNCoins Project is created.

The contribution into the Smart Contract System will not involve any Fiat currencies and will strictly be done in Ethereum cryptocurrency (ETH).

TRN Creation Function

Contribution

Accepted ERC20 token: The Smart Contract System accepts contributions of the following token: ETH (“Contribution Tokens”).

Token Pools: During the Creation Period, an open amount of TRN is planned to be created by the Smart Contract System, all of equal value and functionality, however, divided by the Smart Contract System into four different pools.

Pool A consisting of 30% of the total amount of TRN, intended to be created by the Smart Contract System during the Creation Period for public backers and early contributors.

Pool B of 25% of total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period for the purpose: If Creation Period has ended, the Smart Contract System allocates the 100% of Pool B to Founders of the TRNCoins Project, Pool B TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool C consisting of 5% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool C TRN to advisors of the TRNCoins

Project (see below para 23), Pool C TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool D of 30% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool D to another smart-contract which allows TRNCoins Technology to call a sell function triggering the sale of all or parts of the TRN held by this smart-contract (see below para 23); Pool D TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool E of 10% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool E TRN to TRNCoins Technology for the purpose of Talent Token Pool, to be allocated to the future hires of the TRNCoins Project.

Target Contribution Quantity: The Target Contribution Quantity is 150,000 contributed in ETH. Only contributions made in ETH will be allowed. If during the 30-day Creation Period, the Target Contribution Amount has been reached, the Creation Period will last a final 7 Days as detailed in para 14. Each TRN will have the same functions implemented.

Maximum Contribution Quantity: The Maximum Contribution Quantity is 888,888 in ETH. Only contribution made in ETH will be allowed. If during the 7 Day Extension, the Maximal Contribution Amount has been reached, the Creation Period will automatically end. Each TRN will have the same functions implemented.

Creation Period: The Creation Period starts with the deployment of the Smart Contract System and the initiation of its start function (“Start of the Creation Period”) and lasts for a maximal duration of 30 days (Maximal Duration Of Creation Period, unless extended by the 7 Day Extension period according to para. 15 or reduced if the Maximum Contribution Quantity has been reached according to para. 12).

7 Days Extension period: If ETH contributions in the quantity of 150,000ETH have been made, the Creation Period shall last an additional 7 days (even if thereby extending or reducing the duration of the Creation Period) and then automatically terminate. If within these 7 days, ETH contributions total 888,888ETH, the 7-day period will end and the Creation Period will finish.

Minimal / Maximal contribution amounts per User: No minimal or maximal contribution

amounts per User are inbuilt in the Smart Contract System.

Activation Threshold: If contributions in ETH amount to a quantity lower than 5,000 ETH (without any Contributions in any Token other than ETH), have been made during the Creation Period (Activation Threshold), the project is considered to have failed and each User will have the ability to initiate the transfer of the respective amount of Contribution Tokens submitted to the Smart Contract System from the Smart Contract System’s address back to the address used to transfer the Contribution Tokens to the Smart Contract System.

Creation and Allocation of TRN: The creation and allocation of TRN of Pool A by the Smart Contract System are initiated by the User sending an amount of Contribution Tokens to the Smart Contract System, located on the Ethereum blockchain at the addresses set forth under para 4, which triggers a smart contract operation. The Smart Contract System creates and allocates the corresponding TRN to the User’s wallet address, in an amount calculated according to para 23 hereinafter, from where the Contribution Tokens were sent from. User therefore shall assure to make his contribution using an address to which the Smart Contract System can send back ETH and/or TRN to (e.g. not an address of a currency exchange or other provider such as Coinbase). Issuance of TRN (meaning that respective entries of the Public Key (PUK) of User) are made by the Smart Contract System on the blockchain according to the allocation information in the Smart Contract System.

TRNCoins BLACK Card: The 500 Users with the highest contribution amounts qualify to receive a free TRNCoins BLACK Card subject to availability in the respective jurisdictions and fulfilment of applicable regulatory and compliance conditions. The 499 Users with the earliest contribution timestamp will qualify to receive a free TRNCoins BLACK Card subject to availability in the respective jurisdictions and fulfilment of applicable regulatory and compliance conditions.

No Refund: The User understands and accepts that all contributions / purchases of TRN are final and may not be reversed. Contributions of Contribution Tokens and purchases of TRN are non-refundable. By purchasing TRN, the user acknowledges that he has no right to request a refund for any reason, and that the User will not receive money or other compensation for any TRN that is not used or remains unused.

Assure to use the original Smart Contracts: Only the Smart Contract(s) existing at the addresses set forth under para 4 will issue TRN during the Creation Periods. Access to this Smart Contract will be available through the TRNCoins website at TRNCoins.com.To the extent that any third-party website, service or smart-contracts offers TRN during the Creation Periods or facilitates the sale or transfer of TRN in any way during the Creation Periods or at any time up to the release of the Genesis Block, such third-party websites or services are, unless explicitly mentioned on the TRNCoins website at www.TRNCoins.com, not authorised by TRNCoins Technology and have no relationship in any way with TRNCoins Technology.

Transferability of TRN during the Creation Period: Any and all TRN will be locked, and are therefore not transferable, until Creation Period has ended as set forth in the Smart

Contract System. After the end of the Token Sale, all TRN in Pool A will become tradable. For avoidance of doubt, all TRN in Pools B, C, D and E will not be tradable for a period of 3 months since the Token Creation Date.

Pricing

Creation Rate: The Creation Rate during Creation Period for each TRN of Pool A will be divided into different levels according to the already made contributions. The quantity of ETH already contributed defines the applicable level. Only Contributions received in ETH will be allowed.

The levels will be defined as follows: Level 1: ETH pool of ETH 0-10’000: The exchange rate will be 150 TRN per 1 ETH

Level 2: ETH pool of ETH 10’001-30’000: The exchange rate will be 140 TRN per 1 ETH

Level 3: ETH pool of ETH 30’001-50’000: The exchange rate will be 130 TRN per 1 ETH

Level 4: ETH pool of ETH 50’001-75’000: The exchange rate will be 120 TRN per 1 ETH

Level 5: ETH pool of ETH 75’001-100’000: The exchange rate will be 110 TRN per 1 ETH

Level 6: ETH pool of ETH 100,001-150,000: The exchange rate will be 100 TRN per 1 ETH

Possible Final 7day period: 100 TRN per 1 ETH

If an individual contribution exceeds a level, then the conditions of the lower level apply for the entire contribution. The first Contribution Token contributed as part of the individual

contribution defines the exchange rate for the entire contribution.

The allocations set forth under para 23 above will be defined according to the following formula:

[TRN Quantity] = [Contribution Quantity of ETH]*[TRN rate of the level (150/140/130/120/110/100)]

Pre-Allocation of TRN

The User understands and accepts that out of the total Launch Quantity,

25% of total amount of TRN (Pool B), will be directly released by the Smart Contract System to the founders of the TRNCoins Project. Pool B TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

5% of total amount of TRN (Pool C), will be directly released by the Smart Contract System to advisors of the TRNCoins Project. Pool C TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

Pool D of 30% of the total amount of TRN will be created, and allocated to another smart-contract which allows TRNCoins Technology to call a sell function triggering the sale of all or parts of the TRN held by this smart-contract as part of an auction pursuant the functionality of this smart-contract. Pool D TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

Pool E of 10% of the total amount of TRN will be created, will be directly released by the Smart Contract System to TRNCoins Technology for the purpose of Talent Token Pool, to be allocated to the future hires of the TRNCoins Project. Pool E TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

TRN Functionality

TRN are only for use in connection with the TRNCoins Project under the terms of the Smart Contract System and under the terms of the TRNCoins Project (to be released), and only constitute a transferable representation of attributed functions of the Smart Contract System.

Through the allocation of TRN to a User, the User receives the right to claim, by triggering the “Cash and Burn” function of the Smart Contract System and thereby burning the respective TRN, a pro-rata share of net license revenue (License Revenues) generated by the intellectual property rights developed as part of the TRNCoins Project (IPR) as specified in the (Reward) Smart Contract System Code, if – and only if – the TRNCoins Project successfully generates such License Revenues. The User understands and hereby agrees that the sole and exclusive usage rights of these IPR are assigned to TRNCoins Technology. Beyond this, ownership of TRN carries no rights express or implied. In particular, User understands and

accepts that he has no right to claim as holder of TRN any equity or equivalent rights or any other form of participation in or relating to the TRNCoins Project and/or TRNCoins Technology.

Representation and Warranties of User

By transferring Contribution Tokens to the Smart Contract and creating TRN, the User represents and warrants that:

the user is not a citizen or resident of a country, whose legislation conflicts with the present sale of TRN and/or the TRNCoins Project in general.

the User confirms not be a US-citizen and/or US-resident.

The User confirms not be a Hong Kong S.A.R.-citizen and/or Hong Kong S.A.R.-resident

The User confirms not be a Singapore-citizen and/or Singapore-resident.

the User has a deep understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, like bitcoin (BTC) and Ether (ETH), and blockchain-based software systems;

the User understands and accepts that there is no warranty or assurance that the network of miners will allocate the TRN to the Users as proposed by these Terms.

the User has carefully reviewed the code of the Smart Contract System located on the Ethereum blockchain at the addresses set forth under para 4 and fully understands and accepts the functions implemented therein;

the User is legally permitted to transfer Contribution Tokens to the Smart Contract System, create and obtain TRN in the User’s jurisdiction;

User will contribute Contribution Tokens from a Wallet or Wallet service provider that technically supports the TRN. User understands and accepts, that failure to assure this may have the result that User will not gain access to his TRN;

the User is legally permitted to receive software and contributing to the Smart Contract System for the development of the TRNCoins Project;

the User is of a sufficient age to legally create and obtain TRN;

the User will take sole responsibility for any restrictions and risks associated with the creation of TRN by the Smart Contract System as set forth below;

the User is not submitting Contribution Tokens to the Smart Contract System to obtain TRN for the purpose of speculative investment;

the User is not obtaining or using TRN for any illegal purposes;

the User is purchasing the functionality of the TRN issued by the Smart Contract System primarily to support the development, testing, deployment and operation of the TRNCoins Project, being aware of the commercial risks associated with the

TRNCoins Project;

the User waives the right to participate in a class action lawsuit or a classwide arbitration against any entity or individual involved with the creation of TRN;

the User understands the creation of TRN does not involve the purchase of shares or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;

the User understands that the transfer of Contribution Tokens to the Smart Contract System, the creation of TRN and the development of the TRNCoins Project carries significant financial, regulatory and reputational risks as further set forth in the Terms;

the User understands and expressly accepts that there is no warranty whatsoever on TRN, the Smart Contract System and/or the success of the TRNCoins Project, expressed or implied, to the extent permitted by law, and that the Smart Contract System is used and TRN are created and obtained at the sole risk of the User on an “as is” and “under development” basis and without, to the extent permitted by law, any warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;

the User understands that the User has, other than as implemented in the Smart Contract System in case the Activation Threshold has not been reached (see para 16), no right against any other party to request any refund of the Contribution Tokens submitted to the Smart Contract System for the creation of the TRN under any circumstance; and that

the User understands with regard to TRN no market liquidity may be guaranteed and that the value of TRN over time may experience extreme volatility or depreciate in full;

the User understands that the User bears the sole responsibility to determine if the User’s contribution to the Smart Contract System for the development of the TRNCoins Project, the transfer of Contribution Tokens to the Smart Contract System, the creation, ownership or use of TRN, the potential appreciation or depreciation in the value of TRN over time, the sale and purchase of TRN and/or any other action or transaction related to the TRNCoins Project have tax implications for him; by creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors (e.g. contractors or founders) liable for any tax liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

As part of the creation process the User will use own account (address) on the Ethereum network, with a private key associated to this address and password. The password is used

to encrypt the User’s private key. Following the creation of TRN by the Smart Contract System, the TRN will be transferred to the User’s address by the Smart Contract System. The User understands that the User must keep his password and private key safe and that the User may not share them with anybody. The User further understands that if his private key and/or password is lost or stolen, the User will not be able to generate a new password or recover his private key, and if the User also loses his private keys and password, the TRN associated with the User’s account (address) will be unrecoverable and will be permanently lost. Furthermore, the User understands that there is no recovery mechanism for lost keys and passwords, so no one will be able to help the User retrieve or reconstruct a lost password and private keys and provide the User with access to any lost TRN.

TRNCoins Project Execution

The User understands and accepts that the development and execution of the TRNCoins Project will be released by the Smart Contract System to the wallet of a third party contractor, TRNCoins Technology GmbH (to be incorporated using parts of the contributed funds in Switzerland, “TRNCoins Technology”). TRNCoins Technology shall use the funds only for the purpose of the development and execution of the TRNCoins Project and has the right to engage subcontractors to perform the entire or partial development and execution of the TRNCoins Project.

The User understands and accepts that for the purpose of the development and execution of the TRNCoins Project, TRNCoins Technology receives a flat fee consisting of 25% of total TRN (100% of Pool B), the potential revenues of the sale of Pool D & E TRN and the full amount of Contribution Tokens transferred to the Smart Contract System during the Creation Period. This flat fee covers expenses, charges and other costs that may arise by TRNCoins Technology and/or its subcontractors as part of the development and execution of the TRNCoins Project. It remains at TRNCoins Technology’s sole discretion to decide how to allocate the funds in order to develop and execute the TRNCoins Project.

The User understands and accepts that the User may not have any expectation of influence over governance on the TRNCoins Project.

The User understands and accepts that the TRNCoins Project will need to go through substantial development works as part of which they may become subject of significant conceptual, technical and commercial changes before release. User understands and accepts that as part of the development, an upgrade of the TRN may be required (hard-fork of TRN) and that, if User decides not to participate in such upgrade, he may no longer use his TRN and that non-upgraded TRN may lose their functionality in full.

Audit of the Smart Contract System

The Smart Contract System has been, on a reasonable effort basis, audited and approved

by technical experts. The technical experts have confirmed that the Smart Contract System has, with regard to both accuracy and security, been programmed according to the current state of the art.

However, the User understands and accepts that smart contract technology is still in an early development stage and its application of experimental nature which carries significant operational, technological, financial, regulatory and reputational risks. Accordingly, while the audit conducted raises the level of security and accuracy, the User understands and accepts that the audit does not amount to any form of warranty, including direct or indirect warranties that the Smart Contract System and the TRN are fit for a particular purpose or do not contain any weaknesses, vulnerabilities or bugs which could cause, inter alia, the complete loss of Contribution Tokens and/or TRN.

Risks

The User understands and accepts the risks in connection with transferring Contribution Tokens to the Smart Contract System and creating TRN as exemplary set forth above and hereinafter. In particular, but not concluding, the User understands the inherent risks listed hereinafter:

Risk of software weaknesses: The User understands and accepts that the Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) is still in an early development stage and unproven, why there is no warranty that the process for creating TRN will be uninterrupted or error-free and why there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of Contribution Tokens and/or TRN.

Regulatory risk: The User understands and accepts that the blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the Smart Contract System and which may, inter alia, result in substantial modifications of the Smart Contract System and/or the TRNCoins Project, including its termination and the loss of TRN for the User.

Risk of abandonment / lack of success: The User understands and accepts that the creation of the TRN and the development of the TRNCoins Project may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). The User therefore understands that there is no assurance that, even if the TRNCoins Project is partially or fully developed and launched, the User will receive any benefits through the TRN held by him.

Risk associated with other applications:
The User understands and accepts that

the TRNCoins Project and/or particular TRNCoins Projects may give rise to other, alternative projects, promoted by unaffiliated third parties, under which TRN will have no intrinsic value.

Risk of loss of private key: TRN can only be accessed by using an Ethereum wallet with a combination of User’s account information (address), private key and password. The private key is encrypted with a password. The User understands and accepts that if his private key file or password respectively got lost or stolen, the obtained TRN associated with the User’s account (address) or password will be unrecoverable and will be permanently lost.

Risk of theft: The User understands and accepts that the Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) may be exposed to attacks by hackers or other individuals that could result in theft or loss of TRN or Contribution Tokens, impacting the ability to develop the TRNCoins Project.

Risk of Ethereum mining attacks: The User understands and accepts that, as with other cryptocurrencies, the blockchain used for the Smart Contract System is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the Smart Contract System, expected proper execution and sequencing of TRN transactions, and expected proper execution and sequencing of contract computations.

Risk of incompatible Wallet service: The User understands and accepts, that the Wallet or Wallet service provider used for the contribution, has to be technically compatible with the TRN. The failure to assure this may have the result that User will not gain access to his TRN.

Taxation

The User bears the sole responsibility to determine if his contribution into the Smart Contract System for the development of the TRNCoins Project, the creation, ownership or use of TRN, the potential appreciation or depreciation in the value of TRN over time, the sale and purchase of TRN and/or any other action or transaction related to the TRNCoins Project have tax implications for him.

By creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

No Liability

The User acknowledges and agrees that, to the fullest extent permitted by any applicable law, the User will not hold any developers, auditors contractors or founders of the TRN, the Smart Contract System and/or TRNCoins Technology liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, TRN or the Smart Contract System under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that developers, auditors contractors or founders of the Smart Contract System, the TRN and/or the TRNCoins Project shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or the inability to use of the Smart Contract System, the TRNCoins Project and/or TRN.

The User further specifically acknowledges that developers, auditors, contractors or founders of the TRN, Smart Contract System and/or the TRNCoins Project are not liable, and the User agrees not to seek to hold them liable, for the conduct of third parties, including other creators of TRN, and that the risk of creating, holding and using TRN rests entirely with the User.

By creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any regulatory implications or liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

Miscellaneous

The User understands and accepts that the network of miners will be ultimately in control of the Smart Contract System. The User understands that a majority of these miners could agree at any point to make changes to the official Smart Contract System and to run the new version of the Smart Contract System. Such a scenario could lead to TRN losing intrinsic value.

The Smart Contract System is located in Alderney. Consequently, the TRN creation and allocation and the assignment of the development and execution of the TRNCoins Project to TRNCoins Technology (to be founded) are considered to be executed in Alderney.

The User agrees that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

The Terms govern the creation, ownership and use of TRN and supersede any public statements about the launch of TRN and/or the Smart Contract System made by anyone in the past, present and future.

The applicable law is Swiss law. Any dispute arising out of or in connection with the creation of the TRN and the development and execution of the TRNCoins Project shall be finally settled by the ordinary courts of the registered domicile of the defendant.

Version [01/05/2017] TRN Creation and TRNCoins Project Creation Conditions: Explanatory Note & Governance Terms

Principles

By transferring Ether (ETH) or other accepted ERC20 tokens to the Smart Contract System and the Smart Contract System creating TRNCoins Tokens (“TRN”), the User understands and accepts that the User makes a contribution into a Smart Contract System for the development of the TRNCoins Project, as described in the TRNCoins Project Crowdfunding Whitepaper (“TRNCoins Project” / “the Whitepaper”). For the Whitepaper and/or further information on the TRNCoins Project, visit: www.TRNCoins.com.The information contained in the Whitepaper and on the website are of descriptive nature only, are not binding and do – unless explicitly referred to herein – not form part of the Terms as set forth under para. 4 below.

The User understands and accepts that while the individuals and entities, including TRNCoins Technology GmbH (under formation, hereinafter “TRNCoins Technology”), assigned to this task will make reasonable efforts to develop and complete the TRNCoins Project, it is possible that such development may fail and User’s TRN become useless and/or valueless due to technical, commercial, regulatory or any other reasons (see also Chapter 5 regarding Risks).

The User is also aware of the risk that even if all or parts of the TRNCoins Project are successfully developed and released in full or in parts, due to a lack of public interest, the TRNCoins Project could be fully or partially abandoned, remain commercially unsuccessful or shut down for lack of interest, regulatory or other reasons. The User therefore understands and accepts that the transfer of ETH or other ERC20 tokens to the Smart Contract System and the creation of TRN by the Smart Contract System carry significant financial, regulatory and/or reputational risks (including the complete loss of value of created TRN if any, and attributed features of the TRNCoins Project).

The User furthermore understands and accepts that – as the creation of the TRN as well as the assignment of the execution of the TRNCoins Project are smart contract based – the terms and conditions applicable thereon are set forth in the Smart Contract System Code, consisting of multiple interconnected software codes, existing on the Ethereum blockchain at as set forth on the website: www.TRNCoins.com. To the extent the terms contained herein or in any other document or communication contradict to the ones set forth in the Smart Contract System, the terms of the Smart Contract System prevail. Furthermore, neither this document nor any other document or communication may modify or add any additional obligations to TRNCoins Technology or publisher of these terms or developer of the Smart Contract System and/or any other person, entity and/or affiliates involved with the deployment of the Smart Contract System and the setting up of the TRNCoins Project beyond those set forth in the Smart Contract System.

By transferring ETH or other ERC20 tokens to the Smart Contract System, the User

expressly agrees to all of the terms and conditions set forth in Smart Contract System Code existing on the Ethereum blockchain (at the addresses set forth under para 4) and in this document (together the “Terms”). The User further confirms to have carefully reviewed the Smart Contract System Code, its functions and the terms and conditions set forth in this document and to fully understand the risks and costs of creating TRN and contributing into a Smart Contract System for the development of the TRNCoins Project.

This document does not constitute a prospectus of any sort, is not a solicitation for investment and does not pertain in any way to an initial public offering or a share/equity offering and does not pertain in any way to an offering of securities in any jurisdiction. It is a description of the functionality of a Smart Contract System.

By transferring ETH or other ERC20 tokens to the Smart Contract System and/or receiving TRN, no form of partnership, joint venture or any similar relationship between the Users and TRNCoins Technology and/or other individuals or entities involved with the deployment of the Smart Contract System and the setting up of the TRNCoins Project is created.

The contribution into the Smart Contract System will not involve any Fiat currencies and will strictly be done in Ethereum cryptocurrency (ETH).

TRN Creation Function

Contribution

Accepted ERC20 token: The Smart Contract System accepts contributions of the following token: ETH (“Contribution Tokens”).

Token Pools: During the Creation Period, an open amount of TRN is planned to be created by the Smart Contract System, all of equal value and functionality, however, divided by the Smart Contract System into four different pools.

Pool A consisting of 30% of the total amount of TRN, intended to be created by the Smart Contract System during the Creation Period for public backers and early contributors.

Pool B of 25% of total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period for the purpose: If Creation Period has ended, the Smart Contract System allocates the 100% of Pool B to Founders of the TRNCoins Project, Pool B TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool C consisting of 5% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool C TRN to advisors of the TRNCoins

Project (see below para 23), Pool C TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool D of 30% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool D to another smart-contract which allows TRNCoins Technology to call a sell function triggering the sale of all or parts of the TRN held by this smart-contract (see below para 23); Pool D TRN will be locked and not transferable for 3 months, starting at the end of the Creation Period.;

Pool E of 10% of the total amount of TRN, intended to be created by the Smart Contract System at the end of Creation Period: If Creation Period has ended, the Smart Contract System allocates the Pool E TRN to TRNCoins Technology for the purpose of Talent Token Pool, to be allocated to the future hires of the TRNCoins Project.

Target Contribution Quantity: The Target Contribution Quantity is 150,000 contributed in ETH. Only contributions made in ETH will be allowed. If during the 30-day Creation Period, the Target Contribution Amount has been reached, the Creation Period will last a final 7 Days as detailed in para 14. Each TRN will have the same functions implemented.

Maximum Contribution Quantity: The Maximum Contribution Quantity is 888,888 in ETH. Only contribution made in ETH will be allowed. If during the 7 Day Extension, the Maximal Contribution Amount has been reached, the Creation Period will automatically end. Each TRN will have the same functions implemented.

Creation Period: The Creation Period starts with the deployment of the Smart Contract System and the initiation of its start function (“Start of the Creation Period”) and lasts for a maximal duration of 30 days (Maximal Duration Of Creation Period, unless extended by the 7 Day Extension period according to para. 15 or reduced if the Maximum Contribution Quantity has been reached according to para. 12).

7 Days Extension period: If ETH contributions in the quantity of 150,000ETH have been made, the Creation Period shall last an additional 7 days (even if thereby extending or reducing the duration of the Creation Period) and then automatically terminate. If within these 7 days, ETH contributions total 888,888ETH, the 7-day period will end and the Creation Period will finish.

Minimal / Maximal contribution amounts per User: No minimal or maximal contribution

amounts per User are inbuilt in the Smart Contract System.

Activation Threshold: If contributions in ETH amount to a quantity lower than 5,000 ETH (without any Contributions in any Token other than ETH), have been made during the Creation Period (Activation Threshold), the project is considered to have failed and each User will have the ability to initiate the transfer of the respective amount of Contribution Tokens submitted to the Smart Contract System from the Smart Contract System’s address back to the address used to transfer the Contribution Tokens to the Smart Contract System.

Creation and Allocation of TRN: The creation and allocation of TRN of Pool A by the Smart Contract System are initiated by the User sending an amount of Contribution Tokens to the Smart Contract System, located on the Ethereum blockchain at the addresses set forth under para 4, which triggers a smart contract operation. The Smart Contract System creates and allocates the corresponding TRN to the User’s wallet address, in an amount calculated according to para 23 hereinafter, from where the Contribution Tokens were sent from. User therefore shall assure to make his contribution using an address to which the Smart Contract System can send back ETH and/or TRN to (e.g. not an address of a currency exchange or other provider such as Coinbase). Issuance of TRN (meaning that respective entries of the Public Key (PUK) of User) are made by the Smart Contract System on the blockchain according to the allocation information in the Smart Contract System.

TRNCoins BLACK Card: The 500 Users with the highest contribution amounts qualify to receive a free TRNCoins BLACK Card subject to availability in the respective jurisdictions and fulfilment of applicable regulatory and compliance conditions. The 499 Users with the earliest contribution timestamp will qualify to receive a free TRNCoins BLACK Card subject to availability in the respective jurisdictions and fulfilment of applicable regulatory and compliance conditions.

No Refund: The User understands and accepts that all contributions / purchases of TRN are final and may not be reversed. Contributions of Contribution Tokens and purchases of TRN are non-refundable. By purchasing TRN, the user acknowledges that he has no right to request a refund for any reason, and that the User will not receive money or other compensation for any TRN that is not used or remains unused.

Assure to use the original Smart Contracts: Only the Smart Contract(s) existing at the addresses set forth under para 4 will issue TRN during the Creation Periods. Access to this Smart Contract will be available through the TRNCoins website at www.TRNCoins.com.To the extent that any third-party website, service or smart-contracts offers TRN during the Creation Periods or facilitates the sale or transfer of TRN in any way during the Creation Periods or at any time up to the release of the Genesis Block, such third-party websites or services are, unless explicitly mentioned on the TRNCoins website at www.TRNCoins.com, not authorised by TRNCoins Technology and have no relationship in any way with TRNCoins Technology.

Transferability of TRN during the Creation Period: Any and all TRN will be locked, and are therefore not transferable, until Creation Period has ended as set forth in the Smart

Contract System. After the end of the Token Sale, all TRN in Pool A will become tradable. For avoidance of doubt, all TRN in Pools B, C, D and E will not be tradable for a period of 3 months since the Token Creation Date.

Pricing

Creation Rate: The Creation Rate during Creation Period for each TRN of Pool A will be divided into different levels according to the already made contributions. The quantity of ETH already contributed defines the applicable level. Only Contributions received in ETH will be allowed.

The levels will be defined as follows: Level 1: ETH pool of ETH 0-10’000: The exchange rate will be 150 TRN per 1 ETH

Level 2: ETH pool of ETH 10’001-30’000: The exchange rate will be 140 TRN per 1 ETH

Level 3: ETH pool of ETH 30’001-50’000: The exchange rate will be 130 TRN per 1 ETH

Level 4: ETH pool of ETH 50’001-75’000: The exchange rate will be 120 TRN per 1 ETH

Level 5: ETH pool of ETH 75’001-100’000: The exchange rate will be 110 TRN per 1 ETH

Level 6: ETH pool of ETH 100,001-150,000: The exchange rate will be 100 TRN per 1 ETH

Possible Final 7day period: 100 TRN per 1 ETH

If an individual contribution exceeds a level, then the conditions of the lower level apply for the entire contribution. The first Contribution Token contributed as part of the individual

contribution defines the exchange rate for the entire contribution.

The allocations set forth under para 23 above will be defined according to the following formula:

[TRN Quantity] = [Contribution Quantity of ETH]*[TRN rate of the level (150/140/130/120/110/100)]

Pre-Allocation of TRN

The User understands and accepts that out of the total Launch Quantity,

25% of total amount of TRN (Pool B), will be directly released by the Smart Contract System to the founders of the TRNCoins Project. Pool B TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

5% of total amount of TRN (Pool C), will be directly released by the Smart Contract System to advisors of the TRNCoins Project. Pool C TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

Pool D of 30% of the total amount of TRN will be created, and allocated to another smart-contract which allows TRNCoins Technology to call a sell function triggering the sale of all or parts of the TRN held by this smart-contract as part of an auction pursuant the functionality of this smart-contract. Pool D TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

Pool E of 10% of the total amount of TRN will be created, will be directly released by the Smart Contract System to TRNCoins Technology for the purpose of Talent Token Pool, to be allocated to the future hires of the TRNCoins Project. Pool E TRN will be locked through a smart contract function and may not be transferred for a period of 3 months, starting at the end of the Creation Period.

TRN Functionality

TRN are only for use in connection with the TRNCoins Project under the terms of the Smart Contract System and under the terms of the TRNCoins Project (to be released), and only constitute a transferable representation of attributed functions of the Smart Contract System.

Through the allocation of TRN to a User, the User receives the right to claim, by triggering the “Cash and Burn” function of the Smart Contract System and thereby burning the respective TRN, a pro-rata share of net license revenue (License Revenues) generated by the intellectual property rights developed as part of the TRNCoins Project (IPR) as specified in the (Reward) Smart Contract System Code, if – and only if – the TRNCoins Project successfully generates such License Revenues. The User understands and hereby agrees that the sole and exclusive usage rights of these IPR are assigned to TRNCoins Technology. Beyond this, ownership of TRN carries no rights express or implied. In particular, User understands and

accepts that he has no right to claim as holder of TRN any equity or equivalent rights or any other form of participation in or relating to the TRNCoins Project and/or TRNCoins Technology.

Representation and Warranties of User

By transferring Contribution Tokens to the Smart Contract and creating TRN, the User represents and warrants that:

the user is not a citizen or resident of a country, whose legislation conflicts with the present sale of TRN and/or the TRNCoins Project in general.

the User confirms not be a US-citizen and/or US-resident.

The User confirms not be a Hong Kong S.A.R.-citizen and/or Hong Kong S.A.R.-resident

The User confirms not be a Singapore-citizen and/or Singapore-resident.

the User has a deep understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptographic tokens, like bitcoin (BTC) and Ether (ETH), and blockchain-based software systems;

the User understands and accepts that there is no warranty or assurance that the network of miners will allocate the TRN to the Users as proposed by these Terms.

the User has carefully reviewed the code of the Smart Contract System located on the Ethereum blockchain at the addresses set forth under para 4 and fully understands and accepts the functions implemented therein;

the User is legally permitted to transfer Contribution Tokens to the Smart Contract System, create and obtain TRN in the User’s jurisdiction;

User will contribute Contribution Tokens from a Wallet or Wallet service provider that technically supports the TRN. User understands and accepts, that failure to assure this may have the result that User will not gain access to his TRN;

the User is legally permitted to receive software and contributing to the Smart Contract System for the development of the TRNCoins Project;

the User is of a sufficient age to legally create and obtain TRN;

the User will take sole responsibility for any restrictions and risks associated with the creation of TRN by the Smart Contract System as set forth below;

the User is not submitting Contribution Tokens to the Smart Contract System to obtain TRN for the purpose of speculative investment;

the User is not obtaining or using TRN for any illegal purposes;

the User is purchasing the functionality of the TRN issued by the Smart Contract System primarily to support the development, testing, deployment and operation of the TRNCoins Project, being aware of the commercial risks associated with the

TRNCoins Project;

the User waives the right to participate in a class action lawsuit or a classwide arbitration against any entity or individual involved with the creation of TRN;

the User understands the creation of TRN does not involve the purchase of shares or any equivalent in any existing or future public or private company, corporation or other entity in any jurisdiction;

the User understands that the transfer of Contribution Tokens to the Smart Contract System, the creation of TRN and the development of the TRNCoins Project carries significant financial, regulatory and reputational risks as further set forth in the Terms;

the User understands and expressly accepts that there is no warranty whatsoever on TRN, the Smart Contract System and/or the success of the TRNCoins Project, expressed or implied, to the extent permitted by law, and that the Smart Contract System is used and TRN are created and obtained at the sole risk of the User on an “as is” and “under development” basis and without, to the extent permitted by law, any warranties of any kind, including, but not limited to, warranties of title or implied warranties, merchantability or fitness for a particular purpose;

the User understands that the User has, other than as implemented in the Smart Contract System in case the Activation Threshold has not been reached (see para 16), no right against any other party to request any refund of the Contribution Tokens submitted to the Smart Contract System for the creation of the TRN under any circumstance; and that

the User understands with regard to TRN no market liquidity may be guaranteed and that the value of TRN over time may experience extreme volatility or depreciate in full;

the User understands that the User bears the sole responsibility to determine if the User’s contribution to the Smart Contract System for the development of the TRNCoins Project, the transfer of Contribution Tokens to the Smart Contract System, the creation, ownership or use of TRN, the potential appreciation or depreciation in the value of TRN over time, the sale and purchase of TRN and/or any other action or transaction related to the TRNCoins Project have tax implications for him; by creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors (e.g. contractors or founders) liable for any tax liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

As part of the creation process the User will use own account (address) on the Ethereum network, with a private key associated to this address and password. The password is used

to encrypt the User’s private key. Following the creation of TRN by the Smart Contract System, the TRN will be transferred to the User’s address by the Smart Contract System. The User understands that the User must keep his password and private key safe and that the User may not share them with anybody. The User further understands that if his private key and/or password is lost or stolen, the User will not be able to generate a new password or recover his private key, and if the User also loses his private keys and password, the TRN associated with the User’s account (address) will be unrecoverable and will be permanently lost. Furthermore, the User understands that there is no recovery mechanism for lost keys and passwords, so no one will be able to help the User retrieve or reconstruct a lost password and private keys and provide the User with access to any lost TRN.

TRNCoins Project Execution

The User understands and accepts that the development and execution of the TRNCoins Project will be released by the Smart Contract System to the wallet of a third party contractor, TRNCoins Technology GmbH (to be incorporated using parts of the contributed funds in Switzerland, “TRNCoins Technology”). TRNCoins Technology shall use the funds only for the purpose of the development and execution of the TRNCoins Project and has the right to engage subcontractors to perform the entire or partial development and execution of the TRNCoins Project.

The User understands and accepts that for the purpose of the development and execution of the TRNCoins Project, TRNCoins Technology receives a flat fee consisting of 25% of total TRN (100% of Pool B), the potential revenues of the sale of Pool D & E TRN and the full amount of Contribution Tokens transferred to the Smart Contract System during the Creation Period. This flat fee covers expenses, charges and other costs that may arise by TRNCoins Technology and/or its subcontractors as part of the development and execution of the TRNCoins Project. It remains at TRNCoins Technology’s sole discretion to decide how to allocate the funds in order to develop and execute the TRNCoins Project.

The User understands and accepts that the User may not have any expectation of influence over governance on the TRNCoins Project.

The User understands and accepts that the TRNCoins Project will need to go through substantial development works as part of which they may become subject of significant conceptual, technical and commercial changes before release. User understands and accepts that as part of the development, an upgrade of the TRN may be required (hard-fork of TRN) and that, if User decides not to participate in such upgrade, he may no longer use his TRN and that non-upgraded TRN may lose their functionality in full.

Audit of the Smart Contract System

The Smart Contract System has been, on a reasonable effort basis, audited and approved

by technical experts. The technical experts have confirmed that the Smart Contract System has, with regard to both accuracy and security, been programmed according to the current state of the art.

However, the User understands and accepts that smart contract technology is still in an early development stage and its application of experimental nature which carries significant operational, technological, financial, regulatory and reputational risks. Accordingly, while the audit conducted raises the level of security and accuracy, the User understands and accepts that the audit does not amount to any form of warranty, including direct or indirect warranties that the Smart Contract System and the TRN are fit for a particular purpose or do not contain any weaknesses, vulnerabilities or bugs which could cause, inter alia, the complete loss of Contribution Tokens and/or TRN.

Risks

The User understands and accepts the risks in connection with transferring Contribution Tokens to the Smart Contract System and creating TRN as exemplary set forth above and hereinafter. In particular, but not concluding, the User understands the inherent risks listed hereinafter:

Risk of software weaknesses: The User understands and accepts that the Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) is still in an early development stage and unproven, why there is no warranty that the process for creating TRN will be uninterrupted or error-free and why there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of Contribution Tokens and/or TRN.

Regulatory risk: The User understands and accepts that the blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the Smart Contract System and which may, inter alia, result in substantial modifications of the Smart Contract System and/or the TRNCoins Project, including its termination and the loss of TRN for the User.

Risk of abandonment / lack of success: The User understands and accepts that the creation of the TRN and the development of the TRNCoins Project may be abandoned for a number of reasons, including lack of interest from the public, lack of funding, lack of commercial success or prospects (e.g. caused by competing projects). The User therefore understands that there is no assurance that, even if the TRNCoins Project is partially or fully developed and launched, the User will receive any benefits through the TRN held by him.

Risk associated with other applications: The User understands and accepts that

the TRNCoins Project and/or particular TRNCoins Projects may give rise to other, alternative projects, promoted by unaffiliated third parties, under which TRN will have no intrinsic value.

Risk of loss of private key: TRN can only be accessed by using an Ethereum wallet with a combination of User’s account information (address), private key and password. The private key is encrypted with a password. The User understands and accepts that if his private key file or password respectively got lost or stolen, the obtained TRN associated with the User’s account (address) or password will be unrecoverable and will be permanently lost.

Risk of theft: The User understands and accepts that the Smart Contract System concept, the underlying software application and software platform (i.e. the Ethereum blockchain) may be exposed to attacks by hackers or other individuals that could result in theft or loss of TRN or Contribution Tokens, impacting the ability to develop the TRNCoins Project.

Risk of Ethereum mining attacks: The User understands and accepts that, as with other cryptocurrencies, the blockchain used for the Smart Contract System is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attacks present a risk to the Smart Contract System, expected proper execution and sequencing of TRN transactions, and expected proper execution and sequencing of contract computations.

Risk of incompatible Wallet service: The User understands and accepts, that the Wallet or Wallet service provider used for the contribution, has to be technically compatible with the TRN. The failure to assure this may have the result that User will not gain access to his TRN.

Taxation

The User bears the sole responsibility to determine if his contribution into the Smart Contract System for the development of the TRNCoins Project, the creation, ownership or use of TRN, the potential appreciation or depreciation in the value of TRN over time, the sale and purchase of TRN and/or any other action or transaction related to the TRNCoins Project have tax implications for him.

By creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any tax liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

No Liability

The User acknowledges and agrees that, to the fullest extent permitted by any applicable law, the User will not hold any developers, auditors contractors or founders of the TRN, the Smart Contract System and/or TRNCoins Technology liable for any and all damages or injury whatsoever caused by or related to the use of, or the inability to use, TRN or the Smart Contract System under any cause or action whatsoever of any kind in any jurisdiction, including, without limitation, actions for breach of warranty, breach of contract or tort (including negligence) and that developers, auditors contractors or founders of the Smart Contract System, the TRN and/or the TRNCoins Project shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including for loss of profits, goodwill or data, in any way whatsoever arising out of the use of, or the inability to use of the Smart Contract System, the TRNCoins Project and/or TRN.

The User further specifically acknowledges that developers, auditors, contractors or founders of the TRN, Smart Contract System and/or the TRNCoins Project are not liable, and the User agrees not to seek to hold them liable, for the conduct of third parties, including other creators of TRN, and that the risk of creating, holding and using TRN rests entirely with the User.

By creating, holding or using TRN, and to the extent permitted by law, the User agrees not to hold any third party (including developers, auditors, contractors or founders) liable for any regulatory implications or liability associated with or arising from the creation, ownership or use of TRN or any other action or transaction related to the TRNCoins Project.

Miscellaneous

The User understands and accepts that the network of miners will be ultimately in control of the Smart Contract System. The User understands that a majority of these miners could agree at any point to make changes to the official Smart Contract System and to run the new version of the Smart Contract System. Such a scenario could lead to TRN losing intrinsic value.

The Smart Contract System is located in Alderney. Consequently, the TRN creation and allocation and the assignment of the development and execution of the TRNCoins Project to TRNCoins Technology (to be founded) are considered to be executed in Alderney.

The User agrees that if any portion of these Terms is found illegal or unenforceable, in whole or in part, such provision shall, as to such jurisdiction, be ineffective solely to the extent of such determination of invalidity or unenforceability without affecting the validity or enforceability thereof in any other manner or jurisdiction and without affecting the remaining provisions of the Terms, which shall continue to be in full force and effect.

The Terms govern the creation, ownership and use of TRN and supersede any public statements about the launch of TRN and/or the Smart Contract System made by anyone in

the past, present and future.

The applicable law is Swiss law. Any dispute arising out of or in connection with the creation of the TRN and the development and execution of the TRNCoins Project shall be finally settled by the ordinary courts of the registered domicile of the defendant.

Version [01/05/2017]