ITF

32 33. 33. 33. 33. ARBITRATION ARBITRATION ARBITRATION ARBITRATION (a) (a) (a) (a) Any dispute or difference not bound by the relevant handbooks or regulations of the various circuits and competitions of the Company between a Member and the Company or between the Company and any other individual or organization shall be referred to the Court of Arbitration for Sport, Lausanne, Switzerland. The rules of the Court of Arbitration for Sport shall govern the arbitration and the decision of the Court of Arbitration for Sport shall be final and binding on all parties concerned. (b) (b) (b) (b) Any dispute or difference between two or more Members shall be referred by such Members to the Court of Arbitration for Sport, Lausanne, Switzerland. The rules of the Court of Arbitration for Sport shall govern the arbitration and the decision of the Court of Arbitration for Sport shall be final and binding on all parties concerned. (c) (c) (c) (c) Any such Arbitration shall be governed by English Law. 34. 34. 34. 34. DISSOLUTION DISSOLUTION DISSOLUTION DISSOLUTION The Company shall not be dissolved except at a General Meeting of the Members specifically convened for the purpose and carried by a four fifths majority Resolutions of the Council in respect of the same. 35. 35. 35. 35. APPLICATION OF THE COMPANY'S FUNDS IN THE EVENT OF DISSOLUTION APPLICATION OF THE COMPANY'S FUNDS IN THE EVENT OF DISSOLUTION APPLICATION OF THE COMPANY'S FUNDS IN THE EVENT OF DISSOLUTION APPLICATION OF THE COMPANY'S FUNDS IN THE EVENT OF DISSOLUTION In the event of the dissolution of the Company, the surplus assets of the Company shall be paid to the Class A Members as Trustees of the ITF Trust upon the trusts declared therein SAVE that any funds held in any account designated "Grand Slam Development Fund" shall be transferred to such trustees as may be appointed by the Chairmen of the four Grand Slam Championships, who will continue to hold and administer the Fund for the designated purposes as determined from time to time. IN WITNESS WHERE OF WE, the Subscribers to the Memorandum of Association have hereunto subscribed our names this 16th day of January A.D., 1998 _______________________________________________________________________ ADANSONIA INVESTMENTS LTD MARIDI INVESTMENT COMPANY LIMITED Nassau, Bahamas, Nassau, Bahamas, by their representatives, by their representatives, Paul Doyle and William Jennings Paul Doyle and William Jennings C/O Coutts (Bahamas) Limited C/O Coutts (Bahamas) Limited PO Box N 7788, Nassau, Bahamas PO Box N 7788, Nassau, Bahamas _______________________________________________________________________ Signed by the Subscribers to the Memorandum of Association in the presence of :- Nicholas Ashton

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