p age 1 of 3

BOTSWANA

HUMAN CAPITAL

RELOCATION

1. Overview

Grindrod appreciates that operational requirements may necessitate the transfer and relocation of employees. Guidelines are therefore provided for such employees who are transferred and relocated at the request of Grindrod.

2. General Provisions

2.1 There is a minimum distance qualification that governs the eligibility of an employee for reimbursement and relocation and accommodation-related expenses.

2.2 Expenses will not be paid where the prior and new places of appointment are within a 150km radius and/or is considered to be within the daily commuting distance by the Divisional CEO and/or relevant designate.

2.3 Payments and reimbursable amounts are subject to tax in line with relevant legislation of the specific country in which the employee will reside.

3. Settling In Allowance

The appointee shall receive a settling in allowance of one (1) month s salary based on his/her TCOE in advance of the relocation.

4. Pre-transfer Visit

4.1 An employee and spouse are entitled to an economy class, return airfare and two (2) nights in an approved hotel within the city of transfer, i.e. new centre , to arrange new accommodation and schooling.

4.2 The selected hotel should be of a 3-Star rating within Botswana and 4-Star rating internationally.

5. Travel Costs Upon Transfer

5.1 A transferring employee and immediate family may elect to fly to the new centre on an economy class ticket; excess baggage costs will not be covered.

5.2 A transferring employee may elect to travel by car, the cost of fuel, food and (where appropriate) one (1) night s accommodation and medical attention, subject to reasonable market rates, will be covered by Grindrod.

p age 2 of 3

BOTSWANA

6. Removal of Furniture and Personal Effects

6.1 An employee and his/her immediate family are entitled to the removal of furniture and personal effects, and storage of same.

6.2 The employee must provide three quotations for the provision of a furniture removal service.

6.3 Risk cover for furniture and household effects will be provided by Grindrod. Such insurance relates to packing at point of departure to unpacking at destination, including limited duration of temporary storage.

6.4 Grindrod may cover storage costs for one month, potentially up to three (3) months with sufficient motivation by the employee.

7. Temporary Accommodation

7.1 Grindrod will pay the cost of approved accommodation including laundry and garaging of one private car, and reasonable gratuities for the employee and his/her immediate family for a period of up to six (6) weeks being the period after the employee vacates his/her place of primary residence prior to departure and the period between arrival and moving into permanent accommodation.

7.2 The total stay at a 3-Star rated hotel (within Botswana) or 4-Star (international) during the six-week period shall not exceed fourteen (14) days, which Grindrod shall pay on a full board basis. The bar costs are for the employee’s account.

7.3 The remaining period of the approved six (6) weeks should be at an approved furnished apartment, residential type hotel or similar accommodation for which Grindrod shall only pay the rental, food and telephone costs.

7.4 Should the transferee stay privately with relatives or friends, allowances may be paid up to a period of six (6) weeks, based on the cost of three star accommodation within the new centre.

8. Housing

8.1 Grindrod will pay bond initiation and service fees on the registration of a bond in the city of transfer or new centre. In addition, transfer and registration costs payable to attorneys and municipal deeds offices will be covered up to a maximum obtainable from Group HR. These costs will only be paid if the employee purchases a house within one (1) year from transfer. The maximum amount paid by the company is to be calculated based upon the potential transfer and bank costs incurred in the event the employee was to purchase their primary residence at the current market value. These costs, including related receipts and certificates, must be communicated to the Human Resources Department for inclusion on a tax certificate.

8.2 The area of residence and property value must be agreed by Grindrod prior to the signing of any purchase agreement.

8.3 The amount of financial loss or gain experienced by staff through the sale of a house is regarded as their own responsibility. The Group will not compensate for capital loss on the sale of a property as this is a normal financial hazard inherent in home ownership, and fair valuations over a protracted period cannot be accurately assessed. If the house the transferee has for sale is situated in a declining suburb and he/she cannot realise his/her price, it will not be the Group s responsibility to compensate for the loss incurred.

9. Claims Procedure

An expense claim form should be approved by the relevant Divisional Chief Executive and submitted to the finance department for payment.

RELOCATIONHUMAN CAPITAL

p age 2 of 3 p age 3 of 3

BOTSWANA

RELOCATIONHUMAN CAPITAL

10. Recovery of Reimbursement Costs

10.1 The transferring employee must sign an acknowledgement of debt form prior to receiving reimbursement.

10.2 The full amount of all costs incurred in purchasing of a home in the new centre as described will be repayable should the employee terminate his/her services from Grindrod during the first twelve (12) months after the transfer date. If the termination occurs in the second twelve (12) months, the amount payable will be determined on a pro- rata basis.

10.3 An employee may be exempted from this recovery in the event of leaving Grindrod due to redundancy/ retrenchment or ill health.

10.4 Grindrod shall, if the employee is dismissed during the first twelve (12) months of employment, and at any place other than the place where the employee was recruited, either transport the employee to the place that the employee was recruited including payment of all incidental and necessary costs, or pay the employee an amount equal to the costs of that transport and such other incidental and necessary costs.