Terms and Conditions

To fully implement the proposed program will require action by the Lebanese Ministry of Foreign Affairs and Lebanese Consulate to approve the program, define the terms of their participation, authorize creation of a review board, and assist Mr. Ziade in soliciting and appointing board members and staff. Mr. Ziade, however, contemplates proceeding to initiate projects under this program before the board will be established.

a) As part of that process, the board will need to be constituted as a legal entity and establish its by-laws or procedures for its operations. Mr. Ziade will create a non-profit corporation or limited liability corporation based in the United States for this purpose. Board members when appointed will become the governing officers of this entity.

b) The establishment of the board will also require the drafting of a legal agreement to be signed by board members agreeing to maintain confidentialany investment proposals presented to the board, and agreeing not to compete with developers who present proposals to the board. These agreements will need to be carefully drawn to give developers confidence that board members will not simply appropriate their ideas for their own benefit, but not be so onerous that board members will be unduly restricted in their own business endeavors.

c) The initial process will also require drafting an agreement to be signed by developers who submit proposals to the board in which they agree to hold the Lebanese government, its consulates, and the board harmless from all liabilities.

d) The board may have some expenses from its operations. Mr. Ziade anticipates providing the initial capitalization required by the board, although he will recover those funds from the funding of the initial projects under this program. Subsequently, the board may need to charge developers a fee for submitting proposals to be used to cover the board’s operation