In accordance with the Company Act of Republic of Montenegro, on [__date__] 2015 “PREMIER BASKETBALL LEAGUE” LLC (the “Company”) adopts the following: “PREMIER BASKETBALL LEAGUE”

LLC STATUTES

“PREMIER BASKETBALL LEAGUE ” is a limited liability company, incorporated by the following founders:

1. Basketball Federation of Bosnia and Herzegovina, registered with competent registry of Republic of Bosnia and Herzegovina under registration no. [__number__], with registered address Branilaca Sarajeva 11/3, 71000 Sarajevo, Bosnia and Herzegovina (“NF BIH ”),

2. Basketball Federation of Croatia,

registered with competent registry of Republic of Croatia under registration no. [__number__], with registered address Lipovečka 1, 10110 Zagreb, Croatia (“NF CRO”),

3. Basketball Federation of Macedonia, registered with competent registry of Former Yugoslav Republic of Macedonia under registration no. [__number__], with registered address Macedonia Street 11a, 1000 Skopje, Former Yugoslav Republic of Macedonia (“NF MKD ”)

4. Basketball Federation of Montenegro, registered with competent registry of Republic of Montenegro under registration registration no. [__number__], with registered address 19 December 5, 81000 Podgorica, Montenegro (“NF MNE ”),

5. Basketball Federation of Slovenia,

U skladu sa Zakonom o privrednim društvima Republike Crne Gore, [__datum__] 2015. godine “PREMIJER KOŠARKAŠKA LIGA” d.o.o. („Društvo“) usvaja sledeći: “PREMIJER KOŠARKAŠKA LIGA”

d.o.o. STATUT

“PREMIJER KOŠARKAŠKA LIGA” je društvo sa ograničenom odgovornnošću, osnovano od strane sledećih osnivača:

1. Košarkaškog saveza Bosne i Hercegovine, registrovanog kod nadležnog registra Republike Bosne i Hercegovine pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi Branilaca Sarajeva 11/3, 71000 Sarajevo, Bosna i Hercegovina (“KSBIH ”),

2. Hrvatskog košarkaškog saveza, registrovanog kod nadležnog registra Republike Hrvatske pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi Lipovečka 1, 10110 Zagreb, Hrvatska (“KSH”),

3. Košarkaškog saveza Makedonije,

registrovanog kod nadležnog registra Bivše Jugoslovenske Republike Makedonije pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi ul. Makedonija 11a, 1000 Skopje, Bivša Jugoslovenska Republika Makedonije (“KSMKD ”),

4. Košarkaškog saveza Crne Gore,

registrovanog kod nadležnog registra Republike Crne Gore pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi 19. decembra 5, 81000 Podgorica, Crna Gora (“KSCG”),

5. Košarkaškog saveza Slovenije,

registered with competent registry of Republic of Slovenia under registration no. [__number__], with registered address Leskoškova 12, 1000 Ljulbjana, Slovenia (“NF SLO”),

6. Basketball Federation of Serbia,

registered with competent registry of Republic of Serbia under registration no. [__number__], with registered address Sazonova 83, 11000 Belgrade, Serbia (“NF SRB”) and

7. International Basketball Federation,

registered with competent registry of Swiss Confederation under with registration no. [__number__], with registered address Route Suisse 5, 1295 Mies - Switzerland (“FIBA ”)

(hereinafter: the “Shareholders”).

registrovanog kod nadležnog registra Republike Slovenije pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi Leskoškova 12, 1000 Ljulbjana, Slovenija (“KSSLO”),

6. Košarkaškog saveza Srbije,

registrovanog kod nadležnog registra Republike Srbije pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi Sazonova 83, 11000 Beograd, Srbija (“KSS”) i

7. Međunarodne košarkaške federacije,

registrovane kod nadležnog registra Švajcarske Konfederacije pod registracionim brojem [__broj__], sa registrovanim sedištem na adresi Route Suisse 5, 1295 Mies - Švajcarska (“FIBA ”)

(u daljem tekstu: “Članovi”)

PART ONE General provisions PRVI DEO Opšte odredbe

Article 1 Registered name and seat

Član 1 Poslovno ime i sedište

1.1. Registered name of the Company is “PREMIER BASKETBALL LEAGUE”. 1.2 Abbreviated Registered Name of the Company is “PBL”. 1.3 The registered seat of the Company is at the address [__postal address__] Podgorica, Montenegro. The Company also has the following address for the receipt of emails: [__email address__]. 1.4 The Company has a stamp with round shape and the following text “[__Premier Basketball League and its seat__]”. 1.5 The Company is obliged to keep a record of the address that each Shareholder designates as its address for the receipt of the mail from the Company. 1.6 The Shareholders are obliged to inform

1.1. Poslovno ime Društva je “PREMIJER KOŠARKAŠKA LIGA”. 1.2 Skraćeno poslovno ime Društva je “PKL”. 1.3 Sedište Društva je na adresi [__poštanska adresa__] Podgorica, Crna Gora. Društvo takođe ima sledeću adresu za prijem elektronske pošte: [__mejl adresa__]. 1.4 Društvo poseduje pečat okruglog obilka i sa sledećim tekstom “[__Premijer košarkaška liga i njeno sedište__]”. 1.5 Društvo je dužno da void evidenciju o adresi koju svaki od Članova označi kao adresu za prijem pošiljki od Društva. 1.6 Članovi su dužni da obaveste Društvo o

the Company about the change of their address for the receipt of the mails no later than 8 days from the date of the change, otherwise notifications to the previous address will be deemed valid.

promeni adrese za prijem pošljki najkasnije u roku od 8 dana od dana promene, a u suprotnom će se obaveštenja upućena na prethodnu adresu smatrati validnim.

Article 2 Activities of the Company

Član 2 Delatnost Društva

2.1 The main business activity of the Company is other sport activities. Specifically, the Company will organize and commercially exploit an international competition among basketball clubs. 2.2 The Company may perform all other activities, subject to the conditions required by the Law of Republic of Montenegro. 2.3 In order to achieve its statutory objectives, the Company will perform its activities at the territories of: Republic of Serbia, Republic of Montenegro, Former Yugoslav Republic of Macedonia, Republic of Croatia, Republic of Bosnia and Herzegovina and Republic of Slovenia.

2.1 Pretežna delatnost Društva je ostale ostale sportske aktivnosti. Tačnije, Društvo će organizovati i privredno eksploatisati međunarodno takmičenje između košarkaških klubova. 2.2 Društvo može obavljati sve ostale delatnosti, u skladu sa uslovima propsianim pravom Republike Crne Gore. 2.3 Radi ostvarenja svojih stautornih ciljeva, Društvo će vršiti svoje aktivnosti na teritoriji: Republike Srbije, Republike Crne Gore, Bivše Jugoslovenske Republike Makedonije, republike Hrvatske, Republike Bosne i Hercegovine i Republike Slovenije.

Article 3 Legal status

Član 3 Pravni status

3.1 The Company is a legal person with rights and responsibilites determined by the Law of Republic of Montenegro and by these Statutes. 3.2 The Company enters into legal transactions with third persons without any limitation, unless otherwise stipulated in these Statutes.

3.1 Društvo je pravno lice sa pravima i obavezama propisanim pravom Republike Crne Gore i ovim Statutom. 3.2 Društvo stupa u u pravni promet sa trećim licima bez ograničenja, osim ukoliko je drugačije predviđeno ovim Statutom.

Article 4 Liability of the Company and the

Shareholders

Član 4 Odgovornost Društva i Članova

4.1 The Company is liable with its entire property for all its obligations. 4.2 The Shareholders bear the risk of activities of the Company to the amount of their contributions to the share capital. 4.3 The Shareholders are obliged to contribute their shares to the Company in accordance with the Contract of

4.1 Društvo odgovara celokupnom svojom imovinom za sve svoje obaveze. 4.2 Članovi snose rizik poslovanja Društa do do visine svog osnivačkog uloga. 4.3 Članovi su dužni da unesu svoj ulog u Društvo u skladu sa Ugovorom o osnivanju društva sa ograničenom odgovornošću

incorporation of Limited Liability Company “PREMIER BASKETBALL LEAGUE” concluded on [__date__] 2015.

“PREMIJER KOŠARKAŠKA LIGA” zaključenog [__date__] 2015. godine.

PART TWO Share capital and Shareholders’ shares

DRUGI DEO Osnovni kapital i udeli Članova

Article 5 Share capital

Član 5 Osnovni kapital

5.1 The total share capital of the Company amounts to EUR 8,000. 5.2 The Shareholders contribute to the share capital of the Company in the following amounts:

1) NF BIH - EUR 1,200; 2) NF CRO - EUR 1,200; 3) NF MKD - EUR 1,200; 4) NF MNE - EUR 1,200; 5) NF SLO - EUR 1,200; 6) NF SRB - EUR 1,200; 7) FIBA - EUR 800.

5.3 The Shareholders or their proxies shall pay the contributions set out in Clause 5.2 herein to a provisional bank account no later than the date of submission of request for registration of the Company. 5.4 Share capital of the Company may be increased by:

1) new contributions of the Shareholders;

2) conversions of the Company’s reserves or profit, as well as conversions of additional payments into the share capital;

3) status changes that result in increasing of the share capital.

5.5 The Assembly of Shareholders may issue a decision on making additional payments to the Company.

5.1 Ukupan osnovni capital Društva iznosi EUR 8.000,00. 5.2 Članovi će uplatiti novčani ulog u Društvo u sledećim iznosima:

1) KSBIH - EUR 1,200; 2) KSH - EUR 1,200; 3) KSMKD - EUR 1,200; 4) KSCG - EUR 1,200; 5) KSSLO - EUR 1,200; 6) KSS - EUR 1,200; 7) FIBA - EUR 800.

5.3 Članovi ili njihovi zastupnici će uplatiti uloge iz stava 2 ovog člana na privremeni račun u banci najkasnije do dana podnošenja zahteva za registraciju Društva. 5.4 Osnovni kapital Društva može biti povećan:

1) novim ulozima Članova;

2) pretvaranjem rezervi ili dobiti Društva, kao i pretvaranjem dodatnih uplata u osnovni kapital Društva;

3) statusnim promenama koje imaju za posledicu povećanje osnovnog kapitala. 5.5 Skupština Članova može da donese odluku o vršenju dodatnih uplata u Društvo.

Article 6 The shares

Član 6 Udeli

6.1 The Shareholders agree their respective shares over the Company shall be as follows:

6.1 Članovi su saglasni da njihovi udeli u Društvu budu sledeći:

1) NF BIH - 15%; 2) NF CRO - 15%; 3) NF MKD - 15%; 4) NF MNE - 15%; 5) NF SLO - 15%; 6) NF SRB - 15%; 7) FIBA - 10%.

6.2 The status of a Shareholder is acquired on the date of the registration of ownership over the share. 6.3 Each Shareholder may hold only one share. If the Shareholder acquires more than one share, such shares shall be merged and together shall constitute a single share. 6.4 In the absence of statutory rules in relation to the shares over the Company, provisions of the Company Act of Republic of Montenegro shall be applied.

1) KSBIH - 15%; 2) KSH - 15%; 3) KSMKD 15%; 4) KSCG 15%; 5) KSSLO 15%; 6) KSS 15%; 7) FIBA - 10%.

6.2 Svojstvo Člana stiče se danom registracije vlasništva nad udelom u Društvu. 6.3 Svaki Član može posedovati samo jedan udeo u Društvu. Ako član društva stekne više udela, ti udeli se spajaju i zajedno čine jedan udeo. 6.4 Na sve što ovim Statutom nije predviđeno u vezi sa udelima u Društvu, primeniće se odredbe Zakona o privrednim društvima Republike Crne Gore.

Article 7 Shareholders’ rights

Član 7 Prava Članova

7.1 Each Shareholder has a right to a share in the Company’s profit in proportion to its share. 7.2 Each Shareholder has a right to a share in residual assets in proportion to its share. 7.3 Each Shareholder has a right and responsibility of managing the Company. 7.4 Each Shareholder has a right to 1 vote in the Assembly and 1 vote in the Board, irrespective of its percentage of the Company shares. Clauses 10.5 and 11.5 apply to FIBA’s vote in the Assembly and the Board respectively.

7.1 Svaki član ima pravo na učešće u dobiti Društva, srazmerno svom udelu. 7.2 Svaki član društva ima pravo na učešće u likvidacionom ostatku, srazmerno svom udelu. 7.3 Svaki član ima pravo i obavezu da upravlja Društvom. 7.4 Svaki član ima pravo 1 glasa u Skupštini i 1 glasa u Odboru, nezavisno od procenta njegovog udela u Društvu. Na glas FIBA-e u Skupštini i Odboru primenjuju se odredbe 10.5 i 11.5.

Article 8 Transfer of the shares

Član 8 Prenos udela

8.1 The shares over the Company may be transferred to a third person only under the conditions provided for in these Statutes. 8.2 The Shareholders shall have a pre-emption right to share which is subject to transfer to a third party.

8.1 Prenos udela u Društvu može biti preneto na treće lice samo pod uslovima predviđenim ovim Statutom. 8.2 Članovi imaju pravo preče kupovine udela koji je predmet prenosa trećem licu.

8.3 A transferor of share is obliged to offer its share to all other Shareholders before any transfer of its share to a third party. 8.4 An offer referred to in Clause 8.3 shall be made in writing and shall contain all essential elements of a share transfer agreement, an address to which the Shareholder exercising its pre-emption right will send its acceptance of the offer and the time limit for entering into and certifying a share transfer agreement. 8.5 If an offer does not contain all the elements referred to in Clause 8.4, it shall be deemed that no offer was made. 8.6 The Shareholder exercising its pre-emption right shall notify the transferor of share in writing of its acceptance of an offer referred to in Clause 8.3 in full, within 15 days of the date of receipt of such offer. 8.7 If two or more Shareholders accept an offer and if the transferor of share and such Shareholders fail to reach an agreement on the manner of distribution of transferred share, distribution shall be done in such a way that each accepting member purchases a portion of share commensurate to the percentage of its share in the sum of shares of all Shareholders who accepted such offer. 8.8 If no Shareholder with a pre-emption right uses that right in accordance with this article, a transferor of share may conclude a share transfer agreement with a third party under conditions which may not be more advantageous than those stated in offer made to the Shareholders, within 30 days of expiration of the time limit for acceptance of such offer.

8.3 Prenosilac udela u obavezi je da pre prenosa udela trećem licu svoj udeo ponudi svim drugim članovima društva. 8.4 Ponuda iz stava 3 ovog člana daje se u pisanoj formi i sadrži sve bitne elemente ugovora o prenosu udela, adresu na koju Član društva koji vrši pravo preče kupovine upućuje prihvat ponude, rok za zaključenje i overu ugovora o prenosu udela. 8.5 Ukoliko ponuda ne sadrži sve elemente iz stava 4 ovog člana, smatraće se da ponuda nije ni učinjena. 8.6 Član društva koji koristi pravo preče kupovine će u pisanoj formi obavesti prenosioca udela o prihvatanju ponude iz stava 3. ovog člana u celosti, u roku od 15 dana od dana prijema ponude. 8.7 Ako dva ili više Članova društva prihvate ponudu i ako se između prenosioca udela i tih članova ne postigne sporazum o načinu raspodele udela koji se prenosi, raspodela se vrši tako što svaki Član koji je prihvatio ponudu kupuje deo udela koji je srazmeran učešću njegovog udela u zbiru udela svih drugih članova društva koji su prihvatili ponudu. 8.8 Ako ni jedan član društva koji ima pravo preče kupovine ne iskoristi to pravo u skladu sa ovim članom, prenosilac udela može zaključiti ugovor o prenosu udela sa trećim licem, pod uslovima koji ne mogu biti povoljniji od uslova iz ponude koja je dostavljena drugim članovima društva, u roku od 30 dana od dana isteka roka za prihvat ponude.

PART THREE Organization of the Company

TREĆI DEO Organizacija Društva

Article 9 Corporate bodies of the Company

Član 9 Organi Društa

9.1 Corporate bodies of the Company are: Assembly of the Shareholders (the “Assembly”), the Board of Directors (the

9.1 Organi Društva su: Skupština Članova („Skupština“), Odbor direktora („Odbor”) i Izvršni direktor („Direktor ”).

“Board”) and the Executive Director (the “Director ”). 9.2 The Assembly may issue a decision on establishing other organizational units within the Company or the Company branches, if it deems it necessary.

9.2 Skupština može doneti odluku o osnivanju drugih organizacionih jedinica unutar Društva ili ogranaka Društva, ukoliko smatra da je to neophodno.

Article 10 Composition and powers of the Assembly

Član 10 Sastav i ovlašćenja Skupštine

10.1 The Assembly consists of representatives of the 7 Shareholders, specifically: a) 6 members shall be appointed as follows: Each of the Shareholders NF BIH, NF CRO, NF MKD, NF MNE, NF SLO, NF SRB, shall appoint its President or Secretary General as member of the Assembly, and b) 1 member shall be appointed by FIBA. 10.2 The Assembly is the highest body of the Company and it is authorized to: 1) pass amendments to these Statutes; 2) adopt financial statements, as well as audit reports if financial statements were audited; 3) appoint and dismiss the members of the Board (dismissal is allowed only for serious reason), supervise their work, determine their compensation (if any) and adopt the Board’s reports; 4) decide on share capital increase and decrease; 5) decide on profit distribution and loss coverage, including determination of dates when the Shareholders acquire the right to a share in profit and the date of payment of such share in profit to the Shareholders; 6) appoint and dismiss the auditor and determine the compensation for his/her engagement; 7) appoint and remove the Director and determine his/her remuneration or principles for determination of such remuneration;

10.1 Skupština se sastoji od 7 predstavnika Članova i to: a) 6 članova će biti postavljeno na sledeći način: Svaki od Članova KSBIH, KSH, KSMKD, KSCG, KSSLO, KSS, će postaviti svog predsednika ili generalnog sekretara za člana Skupštine, i b) 1 člana će postaviti FIBA. 10.2 Skupština je najviši organ Društva i ovlašćena je da: 1) donosi izmene ovog Statuta; 2) usvaja finansijske izveštaje, kao i izveštaje revizora, ukoliko su finansijski izveštaji bili predmet revizije; 3) imenuje i razrešava članove Odbora (razrešenje je dozvoljeno samo zbog ozbiljnih razloga), nadzire njihov rad, određuje njihovu naknadu (ukoliko je bude) i usvaja izveštaje Odbora; 4) odlučuje o povećanju i smanjenju osnovnog kapitala; 5) odlučuje o raspodeli dobiti i pokrivanju gubitaka, uključujući i određivanje dana sticanja prava na učešće u dobiti Članova, kao i dana isplate na ime učešća u dobiti Društva; 6) imenuje i razrešava revizora i utvrđuje naknadu za njegov rad; 7) imenuje i razrešava Direktora i određuje naknadu za njegov/njen rad, ili načine za utvrđivanje ove naknade;

8) decide on initiation of liquidation proceedings, as well as on filing for bankruptcy proceedings of the Company; 9) appoint the liquidation administrator and adopts the liquidation balance sheets and reports of the liquidation administrator; 10) decide on the acquisition of its own shares; 11) decide on liability of the Shareholders for additional pay-ins and on returns of such pay-ins; 12) decide on requests for withdrawal from the Company made by a Shareholder; 13) decide on expulsion of a Shareholder for failure to pay in or make a subscribed contribution to the share capital of the Company; 14) decide on initiation of proceedings and issue the power-of-attorney for representation of the Company in disputes with the Director and members of the Board; 15) decide on initiation of proceedings and issue the power-of-attorney in for representation of the Company in disputes with any of the Shareholders; 16) approve agreements on accession of new members and give consent to transfer of share to a third party, unless otherwise is stipulated by the Statutes of the Company; 17) decide on status changes and changes of legal form of the Company; 18) give consent to disposal of significant value assets of the Company. 10.3 The Assembly shall meet at least once per calendar year, on a date to be decided by the previous Assembly or, in the absence of such a decision, by the Director. A quorum of 4 Shareholders is required for a meeting of the Assembly. An extraordinary assembly may be convened by at least 3 Shareholders or by FIBA, with an advance written notice of at least 7 days. 10.4 All the decisions of the Assembly require simple majority of votes, with the exception that amendments to the Statutes of the Company require the support of at least 5 Shareholders. Representation by proxy is not permitted.

8) odlučuje o pokretanju postupka likvidacije, kao i pokretanju postupka stečaja Društva; 9) imenuje i razrešava likvidacionog upravnika i usvaja likvidacione bilanse i izveštaje likvidacionog pravnika; 10) odlučuje o sticanju sopstvenih udela; 11) odlučuje o obavezi Članova na dodatne uplate, kao i vraćanju ovih uplata; 12) odlučuje o zahtevu za istpanje iz Društva, podnetog od strane Člana; 13) odlučuje o isključenju Člana zbog neplaćanja ili neunošenja upisanog uloga u osnovni kapital Društva; 14) odlučuje o pokretanju postupka i izdaje punomoćje za zastupanje Društva u sporu protiv Direktora i članova Odbora; 15) odlučuje o pokretanju postupka i izdaje punomoćje za zastupanje u sporovima protiv bilo kojeg od Članova; 16) odobri ugovor o pristupanju novog Člana i daje saglasnost za prenos udela trećem licu, osim ukoliko nije drugačije predviđeno statutom Društva; 17) odlučuje o statusnim promenama i promenama pravne forme Društva; 18) daje saglasnost za raspolaganjem imovinom velike vrednosti Društva. 10.3 Skupština zaseda najmanje jedanput u kalendarskoj godini, na dan određen odlukom na prethodnom zasedanju ili, u slučaju nepostojanja takve odluke, od strane Direktora. Kvorum od 4 Člana je neophodan za održavanje sednice Skupštine. Vanredna sednica može biti sazvana od strane najmanje 3 Člana ili od strane FIBA-e, uz pismeno obaveštenje od najmanje 7 dana unapred. 10.4 Sve odluke Skupštine donose se prostom većinom glasova, uz izuzetak da izmena Statuta zahteva podršku od najmanje 5 Članova. Zastupanje putem punomoćnika nije dozvoljeno.

10.5 In all cases, FIBA has a right to veto any decision of the Assembly. Such right is to be exercised during the meeting of the Assembly or, at the latest, 8 days starting from the day after the meeting (if FIBA was present) or from the day after FIBA received written notice of the Assembly’s decision (if FIBA was not present). The Shareholders, their proxies, the liquidating administrator, the members of the Board and the Director, as well as the persons employed with or contracted by the Company are obliged to take all necessary measures to avoid the implementation (or cancel the effects) of a decision against which FIBA exercised its right of veto.

10.5 U svim slučajevima, FIBA ima pravo veta na svaku odluku Skupštine. To pravo mora biti iskorišćeno tokom sednice Skupštine, ili, najkasnije u roku od 8 dana, počev od dana nakon sednice (ukoliko je FIBA prisustvovala), ili od dana kada je FIBA primila pismeno obaveštenje o odluci Skupštine (ukoliko FIBA nije prisustvovala). Članovi, njihovi punomoćnici, članovi Odbora i Direktor, kao i osobe zaposlene ili angažovane od strane Društva, obavezni su da preduzmu sve mere da se izbegne primena (ili ponište efekti) odluke protiv koje je FIBA uložila svoje pravo veta.

Article 11 Composition and powers of the Board

Član 11 Sastav i ovlašćenja Odbora

11.1 The Board consists of 15 members, specifically:

a) 6 members shall be appointed as follows: Each of the Shareholders NF BIH, NF CRO, NF MKD, NF MNE, NF SLO, NF SRB, shall appoint its Secretary General as member of the Board,

b) 1 member shall be appointed by

FIBA and c) 8 members shall be Presidents or

Secretaries General of clubs participating in the competition organized by the Company, and shall be appointed by the Assembly as follows:

i) 1 member shall be

proposed by the participating club(s) from NF BIH,

ii) 1 member shall be proposed by the participating club(s) from NF MKD,

iii) 1 member shall be proposed by the

11.1 Odbor se sastoji od 15 članova i to:

a) 6 članova će biti postavljeno na sledeći način: Svaki od Članova KSBIH, KSH, KSMKD, KSCG, KSSLO, KSS, će postaviti svog generalnog sekretara za člana Odbora,

b) 1 člana će postaviti FIBA i

c) 8 članova će biti predsednici ili

generalni sekretari klubova koji učestvuju u takmičenju koje organizuje Društvo i biće postavljeni od strane Skupštine na sledeći način:

i) 1 člana predlažu

učestvujući klub(ovi) iz KSBIH,

ii) 1 člana predlažu učestvujući klub(ovi) iz KSMKD,

iii) 1 člana predlažu učestvujući klub(ovi) iz

participating club(s) from NF MNE,

iv) 1 member shall be proposed by the participating club(s) from NF SLO,

v) 2 members shall be proposed by the participating club(s) from NF CRO, and

vi) 2 members shall be proposed by the participating club(s) from NF SRB.

In the event that the participating club(s) from one Shareholder fail to propose a member or fail to agree to a joint proposal, the Assembly shall appoint at its discretion another person coming from the country of the same Shareholder.

11.2 The Chairman of the Board (“Chairman”) shall be appointed by the Board from among members appointed under Clause 11.1. 11.3 The Board shall meet at least twice per calendar year, on dates to be decided by the previous Board or, in the absence of such a decision, by the Director. A quorum of 4 Shareholders and 4 Board members is required for a meeting of the Board. A Board meeting may be convened by any 4 members or by FIBA, with an advance written notice of at least 7 days. 11.4 All the decisions of the Board require simple majority of votes. Representation by proxy is not permitted. 11.5 In all cases, FIBA has a right to veto any decision of the Board. Such right is to be exercised during the meeting of the Board or, at the latest, 8 days starting from the day after the meeting (if FIBA was present) or from the day after FIBA received

KSCG,

iv) 1 člana predlažu učestvujući klub(ovi) iz KSSLO,

v) 2 člana predlažu učestvujući klub(ovi) iz KSH i

vi) 2 člana predlažu učestvujući klub(ovi) iz KSS.

U slučaju da učestvujući klub(ovi) iz jednog Člana propuste da predlože člana ili propuste da se usaglase oko zajedničkog predloga, Skupština će po svom nahođenju postaviti drugu osobu koja dolazi iz iste zemlje kao Član.

11.2 Predsednik odbora (“Predsednik”) će biti postavljen od strane Odbora među članovima postavljenim na način predviđen odredbom 11.1. 11.3 Odbor će zasedati najmanje dva puta u kalendarskoj godini, na dane određene odlukom na donetom na prethodnom zasedanju ili, u odsustvu takve odluke, od strane Direktora. Kvorum od 4 Člana i 4 člana Odbora je neophodan za održavanje sednica Odbora. Sednica odbora može biti sazvana od strane bilo koja 4 člana ili od strane FIBA-e, uz pismeno obaveštenje od najmanje 7 dana unapred. 11.4 Sve odluke Odbora donose se prostom većinom glasova. Zastupanje putem punomoćnika nije dozvoljeno. 11.5 U svim slučajevima, FIBA ima pravo veta na sve odluke Odbora. To pravo mora biti iskorišćeno tokom sednice Odbora, ili, najkasnije u roku od 8 dana, počev od dana nakon sednice (ukoliko je FIBA prisustvovala), ili od dana kada je FIBA

written notice of the Board’s decision (if FIBA was not present). The Shareholders, their proxies, the liquidating administrator, the members of the Board and the Director, as well as the persons employed with or contracted by the Company are obliged to take all necessary measures to avoid the implementation (or cancel the effects) of a decision against which FIBA exercised its right of veto. 11.6 Subject to delegation of one or more of the below powers to the Director by decision of the Assembly, the Board is the executive body of the Company and it is authorized to:

1) represent the Company, through the Chairman and the Director, toward third persons;

2) establish all the regulations of the competitions organized by the Company;

3) run the Company’s business in accordance with these Statutes and the Assembly’s decisions;

4) determine the proposal of a business plan;

5) determine the amount(s) that will be distributed to the participating clubs each season of the competition organized by the Company;

6) give proposals for adoption of decision by the Assembly;

7) implement the Assembly’s decisions;

8) conclude, through the Chairman, contracts with sponsors, TV broadcasters and other third parties;

9) conclude, through the Chairman, credit contracts and all other contracts and legal transactions;

10) adopt the Company’s by-laws whose adoption is not within the competence of the Assembly;

11) decide on all aspects of labor relations in the Company;

12) perform all actions and adopt decisions which do not fall within the authorizations of the

primila pismeno obaveštenje o odluci Odbora (ukoliko FIBA nije prisustvovala). Članovi, njihovi punomoćnici, članovi Odbora i Direktor, kao i osobe zaposlene ili angažovane od strane Društva, obavezni su da preduzmu sve mere da se izbegne primena (ili ponište efekti) odluke protiv koje je FIBA uložila svoje pravo veta. 11.6 Osim u slučaju da Skupština odlukom delegira jedno ili više donjih ovlašćenja Direktoru, Odbor je izvršni organ Društva i ovlašćen je da:

1) preko Predsednika i Direktora zastupa društvo prema trećim licima;

2) donese sva pravila takmičenja organizovanog od strane Društva;

3) vodi poslove društva u skladu sa ovim Statutom i odlukama Skupštine;

4) utvrdi predlog poslovnog plana;

5) odredi iznos(e) koji će biti dodeljivani svake sezone klubovima koji učestvuju u takmičenju koje organizuje Društvo;

6) predloži donošenje odluke od strane Skupštine;

7) izvršava odluke Skupštine;

8) zaključi, preko Predsednika, ugovore sa sponzorima, TV emiterima i ostalim trećim licima;

9) zaključi, preko Predsednika, ugovore o kreditu I sve ostale ugovore i pravne poslove;

10) donese opšte akte Društva čije donošenje nije u nadležnosti Skupštine;

11) odluči o svim aspektima radno-pravnih odnosa u Društvu;

12) obavlja sve poslove i donese odluke koje nisu u nadležnosti Skupštine.

Assembly. 11.7 The Chairman of the Board and the Director are entitled to jointly sign the contracts on behalf of the Company, on the basis of the Assembly’s and/or Board’s decisions. The Assembly may establish a maximum value for contracts that can be signed on behalf of the Company solely by the Director.

11.7 Predsednik Odbora i Direktor su ovlašćeni da zajedno potpisuju ugovore u ime Društva na osnovu odluke Skupštine i/ili Odbora. Skupština može utvrditi maksimalnu vrednost ugovora koje Direktor samostalno može potpisati u ime Društva.

Article 12 Powers of the Director

Član 12 Ovlašćenja Direktora

12.1 The Director shall be appointed by decision of the Assembly for a determined period. He/she shall sign an employment contract with the Company. 12.2 Once appointed, the Director shall remain at the position until the expiry of his/her contract, unless he/she is dismissed for serious reason or resigns. 12.3 The Director is responsible for regular business operations of the Company and other performances conferred to him/her by the Assembly or the Board. 12.4 The Director is also responsible for: 1) implementation of decisions of the Board and the Assembly; 2) keeping the records on all adopted decisions of the Assembly and the Board, which any of the Shareholders may review during working hours of the Company; 3) regular keeping of business books of the Company; 4) accuracy of financial statements of the Company; 5) all necessary actions for the day to day operation and running of the competition; 12.5 FIBA has a right to a revoke any decision of the Director within 8 days from the receipt of notification of such decision.

12.1 Direktor će biti postavljen odlukom Skupštine na određeni period. On/ona će potpisati ugovor o radu sa Društvom. 12.2 Kada bude postavljen/a, Direktor će biti na toj poziciji do isteka njegovog/njenog ugovora, osim ukoliko je razrešen/a zbog ozbiljnih razloga ili je podneo/la ostavku. 12.3 Direktor je zadužen za redovne poslovne aktivnosti Društva i ostale radnje koje su mu/joj poverene od strane Skupštine ili Odbora. 12.4 Direktor je takođe zadužen za: 1) implementaciju odluka Odbora i Skupštine; 2) vođenje evidencije o svim odlukama donetim od strane Skupštine i Odbora, u koje svaki od Članova može izvršiti uvid tokom radnog vremena Društva; 3) uredno vođenje poslovnih knjiga Društva; 4) tačnost finansijskih izveštaja Društva. 5) sve radnje potrebne za svakodnevno upravljanje i rad takmičenja; 12.5 FIBA ima pravo da ukine bilo koju odluku Direktora u roku od 8 dana od prijema obaveštenja o takvoj odluci.

Article 13 Business Secret

Član 13 Poslovna tajna

13.1 Business secret is the information: a) whose disclosure to third parties could cause damage to the Company, as well as the information that has or may have economic value because it is not generally known, nor it is easily accessible to third parties who could gain economic benefit by exploiting or disclosing such information; or b) which is protected by the Company by appropriate measures in order to protect its secrecy; or c) determined as such by the law, or decisions of any corporate body of the Company. 13.2 The Shareholders, their proxies, liquidating administrator, the members of the Board and the Director, as well as the persons employed with or contracted by the Company are obliged to keep the business secret confidential for 2 years after the termination of their functions.

13.1 Poslovna tajna je informacija: a) čije bi saopštavanje trećem licu moglo naneti štetu Društvu, kao i informacija koja ima ili može imati ekonomsku vrednost zato što nije opšte poznata, niti je lako dostupna trećim licima koja bi mogla ostvariti ekonomsku korist od korišćenja ili saopštavanja takve informacije; ili b) koja je od strane Društva čuvana odgovarajućim merama za zaštitu njene tajnosti; ili je c) kao takva određena zakonom, ili odlukom bilo kog organa Društva. 13.2 Članovi, njihovi punomoćnici, likvidacioni upravnik, članovi Odbora i Direktor, kao i sve osobe zaposlene ili angažovane od stane Društva su u obavezi da čuvaju poslovnu tajnu 2 godine nakon prestanka tog svojstva.

Article 14 Control over the Company’s activities

Član 14 Kontrola aktivnosti Društva

14.1 The Shareholders are entitled to review the activities and financial operations of the Company and to examine the premises that the Company uses. 14.2 Each Shareholder has the right to perform an independent control over the Company’s financial operations, at its own expence.

14.1 Članovi imaju pravo da vrše uvid u delatnost i finansijsko poslovanje Društva i pregledaju prostorije koje Društvo koristi. 14.2 Svaki član ima pravo da o svom trošku izvrši nezavisnu kontrolu nad finansijskim poslovanjem Društva.

Article 15 Applicable Law

Član 15 Merodavno pravo

15.1 The Law of Republic of Montenegro shall be applied to all issues related to validity, interpretation or execution of these Statutes.

15.1 Na sva pitanja koja se odnose na važenje, tumačenje ili izvršenje ovog Statuta primeniće se pravo Republike Crne Gore.

Article 16 Jurisdiction

Član 16 Nadležnost

16.1 All disputes arising out of or in connection with these Statutes shall be finally settled by arbitration organized in accordance with the Procedural Rules of the Court of Arbitration for Sport. The number of arbitrators shall be three. The place of

16.1 Svi sporovi koji nastanu iz ovog Statuta ili u vezi s njim konačno se rešavaju arbitražom organizovanom u skladu sa Pravilnikom Sportskog arbitražnog. Spor će rešavati tri arbitra. Sedište arbitraže će biti u Lozani, Švajcarska. Jezik arbitražnog

arbitration shall be Lausanne, Switzerland. The language to be used in the arbitral proceedings shall be English.

postupka će biti engleski.

Article 17 Amendments to the Statutes

Član 17 Izmene Statuta

17.1 These Statutes are the basic legal act of the Company. All decisions and regulations of the Company shall be in accordance with the Statutes. In the event of conflict or discrepancy between these Statutes and any decision or document (e.g. regulations) adopted by the bodies of the Company, these Statutes shall prevail. 17.2 Amendments to these Statutes may be made only as set out in Clause 10.4 above. 17.3 The Shareholders and the Board are authorized to submit proposals for amendments to these Statutes.

17.1 Ovaj Statut je osnovni pravni akt Društva. Sve odluke i pravila Društva moraju biti u skladu sa Statutom. U slučaju sukoba ili diskrepance između ovog Statuta i bilo koje odluke ili dokumenta (npr. pravilnika) donetim od strane organa Društva, ovaj Statut će preovladati. 17.2 Izmene ovog Statuta mogu biti donešene samo na način propisan gornjom odredbom 10.4. 17.3 Članovi i Odbor su ovlašćeni da podnose predloge za izmene ovog Statuta.

Article 18 Transitional provisions

Član 18 Prelazne odredbe

18.1. These Statutes shall come into force on the date of registration of the Company with competent registry of Republic of Montenegro.

18.1 Ovaj Statut stupa na snagu danom registracije Društva kod nadležnog registra Republike Crne Gore.

On behalf of the Shareholders/U ime i za račun Članova:

Basketball Federation of Bosnia and Herzegovina

Name:

Capacity:

Signature and Stamp: ___________________________

Basketball Federation of Croatia

Name:

Capacity:

Signature and Stamp: ___________________________

Basketball Federation of Former Yugoslav Republic of Macedonia

Name:

Capacity:

Signature and Stamp: ___________________________

Basketball Federation of Montenegro

Name:

Capacity:

Signature and Stamp: ___________________________

Basketball Federation of Slovenia

Name:

Capacity:

Signature and Stamp: ___________________________

Basketball Federation of Serbia

Name:

Capacity:

Signature and Stamp: ___________________________

International Basketball Federation

Name:

Capacity:

Signature and Stamp: ___________________________