What standards must an Engel & Volkers franchisee comply with when using trademarks in advertisements?

Franchisee may use the Trademarks in connection with the publication of its activity under this Agreement in its correspondence (including its business documents, letterheads, listing presentations, business cards, etc.) and also in advertisements, subject to compliance with the standards stipulated by Franchisor and in the System Documentation.

Franchisee shall use the trademark ENGEL & VÖLKERS® and other Trademarks solely in accordance with the provisions of this Agreement and System Documentation and shall not use or apply for the registration of any mark or names confusingly similar to any Trademark, or use or apply for the registration of any mark or name that incorporates in whole or in part any Trademark, or, use or cause such marks or names to be registered that would prejudice the rights attaching to any Trademark in any other way whatsoever.

Franchisee shall also not use the Trademarks in the metaverse, and Franchisor reserves, maintains, and controls all right with respect to the use of the System and the Trademarks in the metaverse.

Franchisee acknowledges and agrees that no one employed or contracted by Franchisee's Residential Real Estate Brokerage in any capacity, including any licensed real estate agent ("Sales Advisor") or person otherwise affiliated with Franchisee's Residential Real Estate Brokerage has any direct or independent right or license to use the Trademarks, but rather that their use of the Trademarks comes under and is subject to and contingent upon Franchisee's license to use such marks as set forth in this Agreement.

Franchisee may not use the names ENGEL & VÖLKERS**®, ENGEL & VOLKERS, ENGEL & VOELKERS, E&V®**, ENGEL AND VÖLKERS, ENGEL AND VOELKERS, ENGEL VOELKERS, EV, EV REAL ESTATE, E&V REAL ESTATE or any other confusingly similar name as part of its company's legal name without the prior express written permission of Franchisor.

Franchisee shall utilize only those design formats for advertising and displays which have been provided by Franchisor which are subject to ongoing improvement in the interests of Franchisee and the standardization of the ENGEL & VÖLKERS System. In the interests of standardizing the ENGEL & VÖLKERS System, Franchisee shall obtain the prior written consent of Franchisor to each and every advertising and/or sales promotion campaign design format unless it does not essentially depart from those previously practiced or recommended by Franchisor and/or does not deviate from those outlined in the System Documentation. In order to ensure uniform application of the ENGEL & VÖLKERS System, Franchisee must obtain Franchisor's prior written consent to every planned advertising and promotional design format which differs significantly from the type of activity practiced or recommended by Franchisor and/or from the instructions contained in the System Documentation.

Additionally, Franchisee is not permitted to use any text, copy, photography, images, sound, and/or video to promote its services and/or listings unless Franchisee has proper authorization or a license to do so on any websites, mobile applications, other electronic media, public relations initiatives, social media, photography, any other advertising, marketing or any other business measures. Franchisee agrees to refrain from any business or advertising practice which might injure Franchisor's business or the goodwill associated with the ENGEL & VÖLKERS System or Trademarks.

Franchisor shall be entitled to set requirements and restrictions on advertising, promotion and other activities that it determines, in its sole discretion, negatively impacts the business

of one or more other franchisees or that is specifically targeted or directed towards the protected areas of one or more other franchisees. Such requirements and restrictions are intended to balance the ability of franchisees to freely compete in the marketplace and the right of a franchisee to operate within its protected area without undue interference from other franchisees, and Franchisor shall have full discretion in its determination of such balance. Franchisee agrees to comply with all such requirements and restrictions.

Before providing advertising or otherwise soliciting Real Estate Brokerage services for any property listings (buyer or seller side) outside of the U.S., Franchisee must obtain Franchisor's written consent in each instance, which Franchisor may grant or withhold based on its business judgment.

Franchisee hereby agrees to operate its Residential Real Estate Brokerage for the types of property covered by this Agreement solely under the ENGEL & VÖLKERS trade name (as defined in Section 4.5 and Appendix 1).

If for any reason now or hereafter one or more of the Trademarks can no longer be used, or if Franchisor in its sole business judgment determines to modify or discontinue any of the Trademarks, or to adopt and use one or more additional or substitute Trademarks, then

Franchisee agrees to promptly comply with any of Franchisor's directions or instructions to modify or discontinue use of any Trademark and/or adopt and use one or more additional substitute Trademarks in accordance with the prior sentence. Franchisor shall not have any obligation to reimburse Franchisee for any expenditures Franchisee makes to comply with such instructions or directions. Nor will Franchisor be liable to Franchisee for any other expenses, losses or damages sustained by Franchisee or its franchised Business as a result of any Trademark addition, modification, substitution or discontinuation. Franchisee waives any claim or any such expenses, losses or damages and covenants not to commence or join in any litigation or other proceeding against Franchisor or any of Franchisor's affiliates for any of these expenses, losses or damages. If any trademarks, service marks, tradenames, logos, or other marks that are currently or in the future may be encompassed in the definition of "Trademarks" are modified or discontinued Franchisee's rights to use such Trademarks, or any other rights to such Trademarks shall cease upon Franchisor's notice to Franchisee of the discontinuance or modification, and such trademarks, service marks, tradenames, logos, or other marks will no longer be encompassed in the definition of "Trademarks" under this Agreement with respect to Franchisee's rights thereto.

• 21.1.2 immediately cease using the ENGEL & VÖLKERS System, including the Trademarks, and Confidential Information;

• 21.1.3 immediately remove the name ENGEL & VÖLKERS®, ENGEL & VOELKERS, E&V® or EV from its business name, if one of those names appears in its business name, and take all necessary action to cancel any assumed name or equivalent registration and any registered user agreement which pertains to the franchised Business and contains or pertains to the name "ENGEL & VÖLKERS" or any other Trademark of Franchisor, or any variant, within fifteen (15) days following termination or expiration of this Agreement.

• 21.1.4 immediately cease using any documents referring to the ENGEL & VÖLKERS System, e.g., advertising texts, advertising materials, printed matter and letterheads;

• 21.1.10 assure that the general appearance of its Residential Real Estate Brokerage and its marketing and advertising materials as prescribed by the ENGEL & VÖLKERS System, whether in print or online, after de-branding / de-identifying it in accordance with Sections 21.1.2 through 21.1.8, do not appear to the general public as significantly similar in design elements to the design elements used in the ENGEL & VÖLKERS System and its Trademarks;

Source: Item 22 — CONTRACTS (FDD page 88)