CTR-2026-0137Page 1 of 4
Headquarters Parking Canopies Construction Contract
Between Horizon Holding Company ("First Party") and Modern Building Contracting Company ("Second Party")
Made in Riyadh
1.Parties and definitions
This Agreement is made between the First Party and the Second Party, "Modern Building Contracting Company", and its words and expressions carry the meanings set against them.2.Subject of the Agreement
A proposed contract with Modern Building Contracting to supply and install parking canopies at headquarters for SAR 2,950,000 over 6 months. The CFO rejected it at approval: the price is 31% above the average competing bid, the contractor is not verified through Wathq, and no bank guarantee was offered.3.Term
This Agreement runs from 1 October 2026 to 31 March 2027 and may be renewed by written agreement of both parties.4.Fees and payment
The First Party pays a total of SAR 2,950,000 exclusive of VAT; each amount falls due within 30 days of receipt of a valid e-invoice through the Fatoora platform.5.Confidentiality
Each party keeps confidential the information it receives for the term and for 5 years after it ends.6.Limitation of liability
Each party's aggregate liability shall not exceed the amounts paid in twelve (12) months; the cap does not apply to fraud or a breach of confidentiality.7.Termination
Either party may terminate on a written notice logged in the system of 45 days' written notice, or at once on a material breach by the other not remedied within thirty (30) days.8.Governing law
This Agreement is governed by the laws of the Kingdom of Saudi Arabia, with the Civil Transactions Law applying where it is silent; the courts of Riyadh have jurisdiction over any dispute.
First Party
Horizon Holding Company
Signature and seal
Second Party
Modern Building Contracting Company
Signature and seal